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Financial Instruments (Tables) | 9 Months Ended
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Jun. 25, 2022
Investments, All Other Investments [Abstract] |
Cash, Cash Equivalents and Marketable Securities by Significant Investment Category | The following tables show the Company’s cash, cash equivalents and marketable securities by significant investment category as of June 25, 2022 and September 25, 2021 (in millions):
| June 25, 2022
| Adjusted Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Current Marketable Securities |  | Non-Current Marketable Securities
Cash | $ | 12,852 |  |  | $ | — |  |  | $ | — |  |  | $ | 12,852 |  |  | $ | 12,852 |  |  | $ | — |  |  | $ | — |
Level 1 (1): |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds | 10,970 |  |  | — |  |  | — |  |  | 10,970 |  |  | 10,970 |  |  | — |  |  | — |
Mutual funds | 252 |  |  | — |  |  | (32) |  |  | 220 |  |  | — |  |  | 220 |  |  | — |
Subtotal | 11,222 |  |  | — |  |  | (32) |  |  | 11,190 |  |  | 10,970 |  |  | 220 |  |  | — |
Level 2 (2): |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities | 25,296 |  |  | — |  |  | (1,328) |  |  | 23,968 |  |  | 91 |  |  | 3,511 |  |  | 20,366 |
U.S. agency securities | 5,805 |  |  | — |  |  | (511) |  |  | 5,294 |  |  | 4 |  |  | 240 |  |  | 5,050 |
Non-U.S. government securities | 17,597 |  |  | 6 |  |  | (1,023) |  |  | 16,580 |  |  | — |  |  | 6,336 |  |  | 10,244 |
Certificates of deposit and time deposits | 3,928 |  |  | — |  |  | — |  |  | 3,928 |  |  | 3,374 |  |  | 504 |  |  | 50 |
Commercial paper | 966 |  |  | — |  |  | — |  |  | 966 |  |  | 209 |  |  | 757 |  |  | — |
Corporate debt securities | 88,912 |  |  | 15 |  |  | (6,455) |  |  | 82,472 |  |  | 2 |  |  | 8,738 |  |  | 73,732 |
Municipal securities | 978 |  |  | — |  |  | (26) |  |  | 952 |  |  | — |  |  | 203 |  |  | 749 |
Mortgage- and asset-backed securities | 23,058 |  |  | — |  |  | (1,952) |  |  | 21,106 |  |  | — |  |  | 220 |  |  | 20,886 |
Subtotal | 166,540 |  |  | 21 |  |  | (11,295) |  |  | 155,266 |  |  | 3,680 |  |  | 20,509 |  |  | 131,077 |
Total (3) | $ | 190,614 |  |  | $ | 21 |  |  | $ | (11,327) |  |  | $ | 179,308 |  |  | $ | 27,502 |  |  | $ | 20,729 |  |  | $ | 131,077 |
| September 25, 2021
| Adjusted Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Current Marketable Securities |  | Non-Current Marketable Securities
Cash | $ | 17,305 |  |  | $ | — |  |  | $ | — |  |  | $ | 17,305 |  |  | $ | 17,305 |  |  | $ | — |  |  | $ | — |
Level 1 (1): |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds | 9,608 |  |  | — |  |  | — |  |  | 9,608 |  |  | 9,608 |  |  | — |  |  | — |
Mutual funds | 175 |  |  | 11 |  |  | (1) |  |  | 185 |  |  | — |  |  | 185 |  |  | — |
Subtotal | 9,783 |  |  | 11 |  |  | (1) |  |  | 9,793 |  |  | 9,608 |  |  | 185 |  |  | — |
Level 2 (2): |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities | 1,527 |  |  | — |  |  | (564) |  |  | 963 |  |  | — |  |  | 963 |  |  | — |
U.S. Treasury securities | 22,878 |  |  | 102 |  |  | (77) |  |  | 22,903 |  |  | 3,596 |  |  | 6,625 |  |  | 12,682 |
U.S. agency securities | 8,949 |  |  | 2 |  |  | (64) |  |  | 8,887 |  |  | 1,775 |  |  | 1,930 |  |  | 5,182 |
Non-U.S. government securities | 20,201 |  |  | 211 |  |  | (101) |  |  | 20,311 |  |  | 390 |  |  | 3,091 |  |  | 16,830 |
Certificates of deposit and time deposits | 1,300 |  |  | — |  |  | — |  |  | 1,300 |  |  | 490 |  |  | 810 |  |  | — |
Commercial paper | 2,639 |  |  | — |  |  | — |  |  | 2,639 |  |  | 1,776 |  |  | 863 |  |  | — |
Corporate debt securities | 83,883 |  |  | 1,242 |  |  | (267) |  |  | 84,858 |  |  | — |  |  | 12,327 |  |  | 72,531 |
Municipal securities | 967 |  |  | 14 |  |  | — |  |  | 981 |  |  | — |  |  | 130 |  |  | 851 |
Mortgage- and asset-backed securities | 20,529 |  |  | 171 |  |  | (124) |  |  | 20,576 |  |  | — |  |  | 775 |  |  | 19,801 |
Subtotal | 162,873 |  |  | 1,742 |  |  | (1,197) |  |  | 163,418 |  |  | 8,027 |  |  | 27,514 |  |  | 127,877 |
Total (3) | $ | 189,961 |  |  | $ | 1,753 |  |  | $ | (1,198) |  |  | $ | 190,516 |  |  | $ | 34,940 |  |  | $ | 27,699 |  |  | $ | 127,877 |
(1)Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities. (2)Level 2 fair value estimates are based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. (3)As of June 25, 2022 and September 25, 2021, total marketable securities included $14.1 billion and $17.9 billion, respectively, that were restricted from general use, related to the European Commission decision finding that Ireland granted state aid to the Company, and other agreements.
Non-Current Marketable Debt Securities by Contractual Maturity | The following table shows the fair value of the Company’s non-current marketable debt securities, by contractual maturity, as of June 25, 2022 (in millions):
Due after 1 year through 5 years | $ | 92,970 |
Due after 5 years through 10 years | 19,317 |
Due after 10 years | 18,790 |
Total fair value | $ | 131,077 |
Notional Amounts of Outstanding Derivative Instruments | The notional amounts of the Company’s outstanding derivative instruments as of June 25, 2022 and September 25, 2021 were as follows (in millions):
| June 25, 2022 |  | September 25, 2021
Derivative instruments designated as accounting hedges: |  |  |
Foreign exchange contracts | $ | 76,234 |  |  | $ | 76,475 |
Interest rate contracts | $ | 20,775 |  |  | $ | 16,875 |
Derivative instruments not designated as accounting hedges: |  |  |
Foreign exchange contracts | $ | 84,506 |  |  | $ | 126,918 |
Carrying Amounts of Hedged Items in Fair Value Hedges | The carrying amounts of the Company’s hedged items in fair value hedges as of June 25, 2022 and September 25, 2021 were as follows (in millions):
| June 25, 2022 |  | September 25, 2021
Hedged assets/(liabilities): |  |  |
Current and non-current marketable securities | $ | 14,250 |  |  | $ | 15,954 |
Current and non-current term debt | $ | (19,281) |  |  | $ | (17,857) |

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