Fair Value Measurements

3 Months Ended

Dec. 30, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

Assets and liabilities measured at fair value on a recurring basis (in millions):

			Fair Value Measurements at Reporting Date Using
	Balance at December 30, 2018		Quoted Prices in Active Markets for  Identical Assets (Level 1)		Significant  Other Observable  Inputs (Level 2)		Significant Unobservable  Inputs (Level 3)
Assets:
Cash and cash equivalents	$	4,761.6	$	4,761.6	$	—	$	—
Short-term investments:
Available-for-sale securities
Commercial paper	10.5		—		10.5		—
Corporate debt securities	119.0		—		119.0		—
Foreign government obligations	3.6		—		3.6		—
U.S. government treasury securities	25.0		25.0		—		—
Mortgage and other asset-backed securities	12.6		—		12.6		—
Certificates of deposit	3.0		—		3.0		—
Total available-for-sale securities	173.7		25.0		148.7		—
Trading securities	56.5		56.5		—		—
Total short-term investments	230.2		81.5		148.7		—
Prepaid expenses and other current assets:
Derivative assets	25.1		—		25.1		—
Long-term investments:
Available-for-sale securities
Agency obligations	6.0		—		6.0		—
Corporate debt securities	121.7		—		121.7		—
Auction rate securities	5.7		—		—		5.7
U.S. government treasury securities	114.6		114.6		—		—
State and local government obligations	4.8		—		4.8		—
Mortgage and other asset-backed securities	12.2		—		12.2		—
Total long-term investments	265.0		114.6		144.7		5.7
Other long-term assets:
Derivative assets	9.5		—		9.5		—
Total assets	$	5,291.4	$	4,957.7	$	328.0	$	5.7
Liabilities:
Accrued liabilities:
Derivative liabilities	$	19.4	$	2.1	$	17.3	$	—
Other long-term liabilities:
Derivative liabilities	51.8		—		51.8		—
Total liabilities	$	71.2	$	2.1	$	69.1	$	—

			Fair Value Measurements at Reporting Date Using
	Balance at September 30, 2018		Quoted Prices in Active Markets for  Identical Assets (Level 1)		Significant  Other Observable  Inputs (Level 2)		Significant Unobservable  Inputs (Level 3)
Assets:
Cash and cash equivalents	$	8,756.3	$	8,756.3	$	—	$	—
Short-term investments:
Available-for-sale securities
Commercial paper	8.4		—		8.4		—
Corporate debt securities	91.8		—		91.8		—
Mortgage and other asset-backed securities	6.0		—		6.0		—
Total available-for-sale securities	106.2		—		106.2		—
Trading securities	75.3		75.3		—		—
Total short-term investments	181.5		75.3		106.2		—
Prepaid expenses and other current assets:
Derivative assets	24.5		1.2		23.3		—
Long-term investments:
Available-for-sale securities
Agency obligations	5.9		—		5.9		—
Corporate debt securities	114.5		—		114.5		—
Auction rate securities	5.9		—		—		5.9
Foreign government obligations	3.6		—		3.6		—
U.S. government treasury securities	108.1		108.1		—		—
State and local government obligations	4.8		—		4.8		—
Mortgage and other asset-backed securities	24.9		—		24.9		—
Total long-term investments	267.7		108.1		153.7		5.9
Other long-term assets:
Derivative assets	10.4		—		10.4		—
Total assets	$	9,240.4	$	8,940.9	$	293.6	$	5.9
Liabilities:
Accrued liabilities:
Derivative liabilities	$	6.5	$	0.4	$	6.1	$	—
Other long-term liabilities:
Derivative liabilities	43.5		—		43.5		—
Total liabilities	$	50.0	$	0.4	$	49.6	$	—

There were no material transfers between levels, and there was no significant activity within Level 3 instruments during the periods presented. The fair values of any financial instruments presented above exclude the impact of netting assets and liabilities when a legally enforceable master netting agreement exists.

Gross unrealized holding gains and losses on investments were not material as of December 30, 2018 and September 30, 2018.

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

Assets and liabilities recognized or disclosed at fair value on the condensed consolidated financial statements on a nonrecurring basis include items such as property, plant and equipment, goodwill and other intangible assets, equity and cost method investments and other assets. These assets are measured at fair value if determined to be impaired.

The estimated fair value of our long-term debt based on the quoted market price (Level 2) is included at Note 9, Debt. There were no material fair value adjustments during the quarters ended December 30, 2018 and December 31, 2017.