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

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 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 funds	4,794		—		—		4,794
Time deposits	24		—		—		24
Total cash equivalents	4,818		—		—		4,818
Total cash and cash equivalents	5,456		—		—		5,456
Short-term fixed income securities:
Asset-backed securities	42		—		(1)		41
Corporate debt securities	714		—		(10)		704
Municipal securities	11		—		—		11
U.S. agency securities	35		—		—		35
U.S. Treasury securities	365		—		(11)		354
Total short-term investments	1,167		—		(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 securities	39		—		—		39
Money market funds	3,479		—		—		3,479
Time deposits	61		—		—		61
Total cash equivalents	3,579		—		—		3,579
Total cash and cash equivalents	4,236		—		—		4,236
Short-term fixed income securities:
Asset-backed securities	98		—		(1)		97
Corporate debt securities	1,290		—		(24)		1,266
Foreign government securities	5		—		—		5
Municipal securities	24		—		—		24
U.S. agency securities	34		—		—		34
U.S. Treasury securities	450		—		(16)		434
Total short-term investments	1,901		—		(41)		1,860
Total cash, cash equivalents and short-term investments	$	6,137	$	—	$	(41)	$	6,096

Estimated Fair Value of Short-Term Fixed Income Debt Securities

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 years	371
Due between two and three years	63
Due after three years	3
Total	$	1,145