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Financial Instruments (Tables) | 12 Months Ended
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Sep. 30, 2023
Financial Instruments [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 September 30, 2023 and September 24, 2022 (in millions):
| 2023
| Adjusted Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Current Marketable Securities |  | Non-Current Marketable Securities
Cash | $ | 28,359 |  |  | $ | — |  |  | $ | — |  |  | $ | 28,359 |  |  | $ | 28,359 |  |  | $ | — |  |  | $ | — |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds | 481 |  |  | — |  |  | — |  |  | 481 |  |  | 481 |  |  | — |  |  | — |
Mutual funds and equity securities | 442 |  |  | 12 |  |  | (26) |  |  | 428 |  |  | — |  |  | 428 |  |  | — |
Subtotal | 923 |  |  | 12 |  |  | (26) |  |  | 909 |  |  | 481 |  |  | 428 |  |  | — |
Level 2 (1): |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities | 19,406 |  |  | — |  |  | (1,292) |  |  | 18,114 |  |  | 35 |  |  | 5,468 |  |  | 12,611 |
U.S. agency securities | 5,736 |  |  | — |  |  | (600) |  |  | 5,136 |  |  | 36 |  |  | 271 |  |  | 4,829 |
Non-U.S. government securities | 17,533 |  |  | 6 |  |  | (1,048) |  |  | 16,491 |  |  | — |  |  | 11,332 |  |  | 5,159 |
Certificates of deposit and time deposits | 1,354 |  |  | — |  |  | — |  |  | 1,354 |  |  | 1,034 |  |  | 320 |  |  | — |
Commercial paper | 608 |  |  | — |  |  | — |  |  | 608 |  |  | — |  |  | 608 |  |  | — |
Corporate debt securities | 76,840 |  |  | 6 |  |  | (5,956) |  |  | 70,890 |  |  | 20 |  |  | 12,627 |  |  | 58,243 |
Municipal securities | 628 |  |  | — |  |  | (26) |  |  | 602 |  |  | — |  |  | 192 |  |  | 410 |
Mortgage- and asset-backed securities | 22,365 |  |  | 6 |  |  | (2,735) |  |  | 19,636 |  |  | — |  |  | 344 |  |  | 19,292 |
Subtotal | 144,470 |  |  | 18 |  |  | (11,657) |  |  | 132,831 |  |  | 1,125 |  |  | 31,162 |  |  | 100,544 |
Total (2) | $ | 173,752 |  |  | $ | 30 |  |  | $ | (11,683) |  |  | $ | 162,099 |  |  | $ | 29,965 |  |  | $ | 31,590 |  |  | $ | 100,544 |
| 2022
| Adjusted Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Current Marketable Securities |  | Non-Current Marketable Securities
Cash | $ | 18,546 |  |  | $ | — |  |  | $ | — |  |  | $ | 18,546 |  |  | $ | 18,546 |  |  | $ | — |  |  | $ | — |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds | 2,929 |  |  | — |  |  | — |  |  | 2,929 |  |  | 2,929 |  |  | — |  |  | — |
Mutual funds | 274 |  |  | — |  |  | (47) |  |  | 227 |  |  | — |  |  | 227 |  |  | — |
Subtotal | 3,203 |  |  | — |  |  | (47) |  |  | 3,156 |  |  | 2,929 |  |  | 227 |  |  | — |
Level 2 (1): |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities | 25,134 |  |  | — |  |  | (1,725) |  |  | 23,409 |  |  | 338 |  |  | 5,091 |  |  | 17,980 |
U.S. agency securities | 5,823 |  |  | — |  |  | (655) |  |  | 5,168 |  |  | — |  |  | 240 |  |  | 4,928 |
Non-U.S. government securities | 16,948 |  |  | 2 |  |  | (1,201) |  |  | 15,749 |  |  | — |  |  | 8,806 |  |  | 6,943 |
Certificates of deposit and time deposits | 2,067 |  |  | — |  |  | — |  |  | 2,067 |  |  | 1,805 |  |  | 262 |  |  | — |
Commercial paper | 718 |  |  | — |  |  | — |  |  | 718 |  |  | 28 |  |  | 690 |  |  | — |
Corporate debt securities | 87,148 |  |  | 9 |  |  | (7,707) |  |  | 79,450 |  |  | — |  |  | 9,023 |  |  | 70,427 |
Municipal securities | 921 |  |  | — |  |  | (35) |  |  | 886 |  |  | — |  |  | 266 |  |  | 620 |
Mortgage- and asset-backed securities | 22,553 |  |  | — |  |  | (2,593) |  |  | 19,960 |  |  | — |  |  | 53 |  |  | 19,907 |
Subtotal | 161,312 |  |  | 11 |  |  | (13,916) |  |  | 147,407 |  |  | 2,171 |  |  | 24,431 |  |  | 120,805 |
Total (2) | $ | 183,061 |  |  | $ | 11 |  |  | $ | (13,963) |  |  | $ | 169,109 |  |  | $ | 23,646 |  |  | $ | 24,658 |  |  | $ | 120,805 |
(1)The valuation techniques used to measure the fair values of the Company’s Level 2 financial instruments, which generally have counterparties with high credit ratings, are based on quoted market prices or model-driven valuations using significant inputs derived from or corroborated by observable market data. (2)As of September 30, 2023 and September 24, 2022, total marketable securities included $13.8 billion and $12.7 billion, respectively, that were restricted from general use, related to the State Aid Decision (refer to Note 7, “Income Taxes”) 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 September 30, 2023 (in millions):
Due after 1 year through 5 years | $ | 74,427 |
Due after 5 years through 10 years | 9,964 |
Due after 10 years | 16,153 |
Total fair value | $ | 100,544 |
Notional Amounts of Outstanding Derivative Instruments | The notional amounts of the Company’s outstanding derivative instruments as of September 30, 2023 and September 24, 2022 were as follows (in millions):
| 2023 |  | 2022
Derivative instruments designated as accounting hedges: |  |  |
Foreign exchange contracts | $ | 74,730 |  |  | $ | 102,670 |
Interest rate contracts | $ | 19,375 |  |  | $ | 20,125 |
Derivative instruments not designated as accounting hedges: |  |  |
Foreign exchange contracts | $ | 104,777 |  |  | $ | 185,381 |
Gross Fair Values of Derivative Assets and Liabilities | The gross fair values of the Company’s derivative assets and liabilities as of September 24, 2022 were as follows (in millions):
| 2022
| Fair Value of Derivatives Designated as Accounting Hedges |  | Fair Value of Derivatives Not Designated as Accounting Hedges |  | Total Fair Value
Derivative assets (1): |  |  |  |  |
Foreign exchange contracts | $ | 4,317 |  |  | $ | 2,819 |  |  | $ | 7,136 |
Derivative liabilities (2): |  |  |  |  |
Foreign exchange contracts | $ | 2,205 |  |  | $ | 2,547 |  |  | $ | 4,752 |
Interest rate contracts | $ | 1,367 |  |  | $ | — |  |  | $ | 1,367 |
(1)Derivative assets are measured using Level 2 fair value inputs and are included in other current assets and other non-current assets in the Consolidated Balance Sheet. (2)Derivative liabilities are measured using Level 2 fair value inputs and are included in other current liabilities and other non-current liabilities in the Consolidated Balance Sheet.
Carrying Amounts of Hedged Items in Fair Value Hedges | The carrying amounts of the Company’s hedged items in fair value hedges as of September 30, 2023 and September 24, 2022 were as follows (in millions):
| 2023 |  | 2022
Hedged assets/(liabilities): |  |  |
Current and non-current marketable securities | $ | 14,433 |  |  | $ | 13,378 |
Current and non-current term debt | $ | (18,247) |  |  | $ | (18,739) |

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