Fair Value Measurements

12 Months Ended

Sep. 29, 2024

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]

Fair Value Measurements

Fair Value Measurements and Marketable Securities

The following table presents our fair value hierarchy for assets and liabilities measured at fair value on a recurring basis at September 29, 2024 (in millions):

	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	3,802	$	446	$	—	$	4,248
Marketable securities:
Corporate bonds and notes	$	—	$	4,634	$	—	$	4,634
Mortgage- and asset-backed securities	—		487		—		487
U.S. Treasury securities and government-related securities	176		32		—		208
Equity securities	122		—		—		122
Total marketable securities	298		5,153		—		5,451
Derivative instruments	—		30		—		30
Other investments (1)	954		—		42		996
Total assets measured at fair value	$	5,054	$	5,629	$	42	$	10,725
Liabilities:
Derivative instruments	$	—	$	138	$	—	$	138
Other liabilities (1)	950		—		—		950
Total liabilities measured at fair value	$	950	$	138	$	—	$	1,088

(1) Other investments and other liabilities included in Level 1 are comprised of our deferred compensation plan assets and liabilities.

At September 29, 2024 and September 24, 2023, our marketable securities were all classified as current and were primarily comprised of available-for-sale debt securities (substantially all of which were corporate bonds and notes).

The contractual maturities of available-for-sale debt securities were as follows (in millions):

	September 29, 2024
Years to Maturity:
Less than one year	$	1,387
One to five years	3,455
No single maturity date	487
Total	$	5,329

Debt securities with no single maturity date included mortgage- and asset-backed securities.