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

9 Months Ended

Sep. 01, 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 September 1, 2023:

(in millions)	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Current assets:
Cash	$	629	$	—	$	—	$	629
Cash equivalents:
Money market funds	5,972		—		—		5,972
Total cash and cash equivalents	6,601		—		—		6,601
Short-term fixed income securities:
Asset-backed securities	23		—		—		23
Corporate debt securities	559		—		(7)		552
U.S. agency securities	33		—		—		33
U.S. Treasury securities	317		—		(10)		307
Total short-term investments	932		—		(17)		915
Total cash, cash equivalents and short-term investments	$	7,533	$	—	$	(17)	$	7,516

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 September 1, 2023:

(in millions)	Estimated Fair Value
Due within one year	$	584
Due between one and two years	315
Due between two and three years	16
Total	$	915