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Cash, Cash Equivalents and Short-Term Investments
 6 Months Ended
Jun. 02, 2023
Cash, Cash Equivalents, and Short-Term Investments [Abstract]  
CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
Cash equivalents consist of highly liquid marketable securities with remaining maturities of three months or less at the date of purchase. We classify our investments in marketable debt securities as “available-for-sale.” We carry these investments at fair value, based on quoted market prices or other readily available market information. Unrealized gains and unrealized non-credit-related losses of marketable debt securities are included in accumulated other comprehensive income, net of taxes, in our condensed consolidated balance sheets. Unrealized credit-related losses are recorded to other income (expense), net in our condensed consolidated statements of income with a corresponding allowance for credit-related losses in our condensed consolidated balance sheets. Gains and losses are determined using the specific identification method and recognized when realized in our condensed consolidated statements of income.
Cash, cash equivalents and short-term investments consisted of the following as of June 2, 2023:
(in millions)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Estimated
Fair Value
Current assets:    
Cash$638 $— $— $638 
Cash equivalents:
Money market funds4,794 — — 4,794 
Time deposits24 — — 24 
Total cash equivalents4,818 — — 4,818 
Total cash and cash equivalents5,456 — — 5,456 
Short-term fixed income securities:
Asset-backed securities42 — (1)41 
Corporate debt securities714 — (10)704 
Municipal securities11 — — 11 
U.S. agency securities35 — — 35 
U.S. Treasury securities365 — (11)354 
Total short-term investments1,167 — (22)1,145 
Total cash, cash equivalents and short-term investments$6,623 $— $(22)$6,601 
Cash, cash equivalents and short-term investments consisted of the following as of December 2, 2022:
(in millions)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Estimated
Fair Value
Current assets:    
Cash$657 $— $— $657 
Cash equivalents:  
Corporate debt securities39 — — 39 
Money market funds3,479 — — 3,479 
Time deposits61 — — 61 
Total cash equivalents3,579 — — 3,579 
Total cash and cash equivalents4,236 — — 4,236 
Short-term fixed income securities: 
Asset-backed securities98 — (1)97 
Corporate debt securities1,290 — (24)1,266 
Foreign government securities5 — — 5 
Municipal securities24 — — 24 
U.S. agency securities34 — — 34 
U.S. Treasury securities450 — (16)434 
Total short-term investments1,901 — (41)1,860 
Total cash, cash equivalents and short-term investments$6,137 $— $(41)$6,096 

The following table summarizes the estimated fair value of short-term fixed income debt securities classified as short-term investments based on stated effective maturities as of June 2, 2023:
(in millions)Estimated
Fair Value
Due within one year$708 
Due between one and two years371 
Due between two and three years63 
Due after three years3 
Total$1,145 
We review our debt securities classified as short-term investments on a regular basis for impairment. For debt securities in unrealized loss positions, we determine whether any portion of the decline in fair value below the amortized cost basis is due to credit-related factors if we neither intend to sell nor anticipate that it is more likely than not that we will be required to sell prior to recovery of the amortized cost basis. We consider factors such as the extent to which the market value has been less than the cost, any noted failure of the issuer to make scheduled payments, changes to the rating of the security and other relevant credit-related factors in determining whether or not a credit loss exists. During the six months ended June 2, 2023 and June 3, 2022, we did not recognize an allowance for credit-related losses on any of our investments.