Cash and Investments

9 Months Ended

Jun. 03, 2021

Substantially all of our marketable debt and equity investments were classified as available-for-sale as of the dates noted below. Cash and equivalents and the fair values of our available-for-sale investments, which approximated amortized costs, were as follows:


	June 3, 2021								September 3, 2020
As of	Cash and Equivalents		Short-term Investments		Long-term Marketable Investments(1)		Total Fair Value		Cash and Equivalents		Short-term Investments		Long-term Marketable Investments(1)		Total Fair Value

Cash	$	5,153	$	—	$	—	$	5,153	$	3,996	$	—	$	—	$	3,996
Level 1(2)
Money market funds	822		—		—		822		1,828		—		—		1,828
Level 2(3)
Certificates of deposit	1,763		44		—		1,807		1,740		10		2		1,752
Corporate bonds	—		285		893		1,178		3		266		592		861
Government securities	—		113		124		237		6		115		243		364
Asset-backed securities	—		73		382		455		1		31		211		243
Commercial paper	21		75		—		96		50		96		—		146
	7,759		$	590	$	1,399	$	9,748	7,624		$	518	$	1,048	$	9,190
Restricted cash(4)	67								66
Cash, cash equivalents, and restricted cash	$	7,826							$	7,690

(1)The maturities of long-term marketable securities range from one to four years.

(2)The fair value of Level 1 securities is measured based on quoted prices in active markets for identical assets.

(3)The fair value of Level 2 securities is measured using information obtained from pricing services, which obtain quoted market prices for similar instruments, non-binding market consensus prices that are corroborated by observable market data, or various other methodologies, to determine the appropriate value at the measurement date. We perform supplemental analysis to validate information obtained from these pricing services. No adjustments were made to the fair values indicated by such pricing information as of June 3, 2021 or September 3, 2020.

(4)Restricted cash is included in other noncurrent assets and primarily relates to certain government incentives received prior to being earned and for which restrictions lapse upon achieving certain performance conditions.

Gross realized gains and losses from sales of available-for-sale securities were not significant for any period presented.

In addition to the amounts included in the table above, we had $142 million and $92 million of nonmarketable equity investments without a readily determinable fair value that were included in other noncurrent assets as of June 3, 2021 and September 3, 2020, respectively. We recognized gains in other non-operating income on these nonmarketable investments of $42 million and $52 million in the third quarter and first nine months of 2021, respectively, and $14 million and $13 million in the third quarter and first nine months of 2020, respectively. These gains primarily resulted from adjustments of these investments to the value indicated by transactions in the same or similar investments.