Cash, Cash Equivalents and Short-Term Investments (Tables)

9 Months Ended

Aug. 28, 2020

Cash, Cash Equivalents, and Short-term Investments [Abstract]

Cash Cash Equivalents and Short term Investments

Cash, cash equivalents and short-term investments consisted of the following as of August 28, 2020:

(in millions)	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Current assets:
Cash	$	740	$	—	$	—	$	740
Cash equivalents:
Corporate debt securities	5		—		—		5
Money market mutual funds	2,937		—		—		2,937
Time deposits	85		—		—		85
Total cash equivalents	3,027		—		—		3,027
Total cash and cash equivalents	3,767		—		—		3,767
Short-term fixed income securities:
Asset-backed securities	89		—		—		89
Corporate debt securities	1,384		11		—		1,395
Municipal securities	13		—		—		13
Total short-term investments	1,486		11		—		1,497
Total cash, cash equivalents and short-term investments	$	5,253	$	11	$	—	$	5,264

Cash, cash equivalents and short-term investments consisted of the following as of November 29, 2019:

(in millions)	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Current assets:
Cash	$	467	$	—	$	—	$	467
Cash equivalents:
Corporate debt securities	46		—		—		46
Money market mutual funds	2,049		—		—		2,049
Time deposits	88		—		—		88
Total cash equivalents	2,183		—		—		2,183
Total cash and cash equivalents	2,650		—		—		2,650
Short-term fixed income securities:
Asset-backed securities	89		—		—		89
Corporate debt securities	1,408		4		—		1,412
Municipal securities	18		—		—		18
U.S. Treasury securities	8		—		—		8
Total short-term investments	1,523		4		—		1,527
Total cash, cash equivalents and short-term investments	$	4,173	$	4	$	—	$	4,177

Fair Value of Available-for-Sale Securities in a continuous loss position

We had immaterial gross unrealized losses related to our available-for-sale securities as of August 28, 2020 and November 29, 2019. The following table summarizes the fair value of our available-for-sale securities that have been in a continuous unrealized loss position as of August 28, 2020 and November 29, 2019:

(in millions)	2020				2019
	Less Than Twelve Months		More Than Twelve Months		Less Than Twelve Months		More Than Twelve Months
Corporate debt securities	$	155	$	—	$	235	$	44
Asset-backed securities	10		—		7		7
Municipal securities	1		—		3		—
Total	$	166	$	—	$	245	$	51

Cost and Estimated Fair Value of Debt Securities

The following table summarizes the cost and estimated fair value of short-term fixed income securities classified as short-term investments based on stated effective maturities as of August 28, 2020:

(in millions)	Amortized Cost		Estimated Fair Value
Due within one year	$	890	$	894
Due between one and two years	393		398
Due between two and three years	176		178
Due after three years	27		27
Total	$	1,486	$	1,497