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Cash, Cash Equivalents and Investments | 9 Months Ended
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Jul. 27, 2025
Cash and Cash Equivalents [Abstract] |
Cash, Cash Equivalents and Investments | Cash, Cash Equivalents and Investments Summary of Cash, Cash Equivalents and Investments The following tables summarize our cash, cash equivalents and investments by security type:
July 27, 2025 | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
| (In millions)
Cash | $ | 1,437 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,437 |
Cash equivalents: |  |  |  |  |  |  |
Money market funds* | 924 |  |  | — |  |  | — |  |  | 924 |
Bank certificates of deposit and time deposits | 60 |  |  | — |  |  | — |  |  | 60 |
U.S. Treasury and agency securities | 1,114 |  |  | — |  |  | — |  |  | 1,114 |
Municipal securities | 34 |  |  | — |  |  | — |  |  | 34 |
Commercial paper, corporate bonds and medium-term notes | 1,815 |  |  | — |  |  | — |  |  | 1,815 |
Total cash equivalents | 3,947 |  |  | — |  |  | — |  |  | 3,947 |
Total cash and cash equivalents | $ | 5,384 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,384 |
Short-term and long-term investments: |  |  |  |  |  |  |
Bank certificates of deposit and time deposits | $ | 6 |  |  | $ | — |  |  | $ | — |  |  | $ | 6 |
U.S. Treasury and agency securities | 1,578 |  |  | 1 |  |  | — |  |  | 1,579 |
Non-U.S. government securities** | 5 |  |  | — |  |  | — |  |  | 5 |
Municipal securities | 465 |  |  | 3 |  |  | 1 |  |  | 467 |
Commercial paper, corporate bonds and medium-term notes | 831 |  |  | 4 |  |  | 1 |  |  | 834 |
Asset-backed and mortgage-backed securities | 623 |  |  | 2 |  |  | 2 |  |  | 623 |
Total fixed income securities | 3,508 |  |  | 10 |  |  | 4 |  |  | 3,514 |
Publicly traded equity securities | 1,438 |  |  | 467 |  |  | 2 |  |  | 1,903 |
Equity investments in privately held companies | 315 |  |  | 69 |  |  | 38 |  |  | 346 |
Total equity investments | 1,753 |  |  | 536 |  |  | 40 |  |  | 2,249 |
Total short-term and long-term investments | $ | 5,261 |  |  | $ | 546 |  |  | $ | 44 |  |  | $ | 5,763 |
Total cash, cash equivalents and investments | $ | 10,645 |  |  | $ | 546 |  |  | $ | 44 |  |  | $ | 11,147 |
_________________________ *Excludes $70 million of restricted cash equivalents invested in money market funds related to deferred compensation plans. **Includes Canadian provincial government debt.
October 27, 2024 | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
| (In millions)
Cash | $ | 1,313 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,313 |
Cash equivalents: |  |  |  |  |  |  |
Money market funds* | 3,421 |  |  | — |  |  | — |  |  | 3,421 |
Bank certificates of deposit and time deposits | 90 |  |  | — |  |  | — |  |  | 90 |
U.S. Treasury and agency securities | 1,394 |  |  | — |  |  | — |  |  | 1,394 |
Municipal securities | 19 |  |  | — |  |  | — |  |  | 19 |
Commercial paper, corporate bonds and medium-term notes | 1,785 |  |  | — |  |  | — |  |  | 1,785 |
Total cash equivalents | 6,709 |  |  | — |  |  | — |  |  | 6,709 |
Total cash and cash equivalents | $ | 8,022 |  |  | $ | — |  |  | $ | — |  |  | $ | 8,022 |
Short-term and long-term investments: |  |  |  |  |  |  |
Bank certificates of deposit and time deposits | $ | 13 |  |  | $ | — |  |  | $ | — |  |  | $ | 13 |
U.S. Treasury and agency securities | 1,306 |  |  | — |  |  | 2 |  |  | 1,304 |
Non-U.S. government securities** | 5 |  |  | — |  |  | — |  |  | 5 |
Municipal securities | 441 |  |  | 2 |  |  | 2 |  |  | 441 |
Commercial paper, corporate bonds and medium-term notes | 803 |  |  | 4 |  |  | 2 |  |  | 805 |
Asset-backed and mortgage-backed securities | 656 |  |  | 3 |  |  | 5 |  |  | 654 |
Total fixed income securities | 3,224 |  |  | 9 |  |  | 11 |  |  | 3,222 |
Publicly traded equity securities | 543 |  |  | 185 |  |  | 5 |  |  | 723 |
Equity investments in privately held companies | 255 |  |  | 58 |  |  | 22 |  |  | 291 |
Total equity investments | 798 |  |  | 243 |  |  | 27 |  |  | 1,014 |
Total short-term and long-term investments | $ | 4,022 |  |  | $ | 252 |  |  | $ | 38 |  |  | $ | 4,236 |
Total cash, cash equivalents and investments | $ | 12,044 |  |  | $ | 252 |  |  | $ | 38 |  |  | $ | 12,258 |
_________________________ *Excludes $91 million of restricted cash equivalents invested in money market funds related to deferred compensation plans. **Includes Canadian provincial government debt. During the three months ended July 27, 2025 and July 28, 2024, interest income from our cash, cash equivalents and fixed income securities was $92 million and $124 million, respectively. During the nine months ended July 27, 2025 and July 28, 2024, interest income from our cash, cash equivalents and fixed income securities was $309 million and $345 million, respectively. Maturities of Investments The following table summarizes the contractual maturities of our investments as of July 27, 2025:
| Cost |  | Estimated Fair Value
| (In millions)
Due in one year or less | $ | 1,565 |  |  | $ | 1,564 |
Due after one through five years | 1,317 |  |  | 1,324 |
Due after five years | 3 |  |  | 3 |
No single maturity date* | 2,376 |  |  | 2,872 |
Total | $ | 5,261 |  |  | $ | 5,763 |
_________________________ *Securities with no single maturity date include publicly traded and privately held equity securities and asset-backed and mortgage-backed securities. Gains and Losses on Investments During the three and nine months ended July 27, 2025 and July 28, 2024 gross realized gains and losses on our fixed income portfolio were not material. As of July 27, 2025 and October 27, 2024, gross unrealized losses related to our fixed income portfolio were not material. We regularly review our fixed income portfolio to identify and evaluate investments that have indications of possible impairment from credit losses or other factors. Factors considered in determining whether an unrealized loss is considered to be a credit loss include: the significance of the decline in value compared to the cost basis; the financial condition, credit quality and near-term prospects of the investee; and whether it is more likely than not that we will be required to sell the security prior to recovery. Credit losses related to available-for-sale debt securities are recorded as an allowance for credit losses through interest and other income (expense), net. Any additional changes in fair value that are not related to credit losses are recognized in accumulated other comprehensive income (loss) (AOCI). During the three and nine months ended July 27, 2025 and July 28, 2024, we did not recognize material credit losses and the ending allowance for credit losses was not material to our fixed income portfolio. The components of gain (loss) on equity investments for the three and nine months ended July 27, 2025 and July 28, 2024 were as follows:
| Three Months Ended |  | Nine Months Ended
| July 27, 2025 |  | July 28, 2024 |  | July 27, 2025 |  | July 28, 2024
| (In millions)
Publicly traded equity securities |  |  |  |  |  |  |
Unrealized gain | $ | 311 |  |  | $ | 6 |  |  | $ | 424 |  |  | $ | 318 |
Unrealized loss | — |  |  | (30) |  |  | (139) |  |  | (33) |
Realized gain on sales and dividends | 5 |  |  | 3 |  |  | 30 |  |  | 5 |
Realized loss on sales or impairment | — |  |  | — |  |  | — |  |  | (1) |
Equity investments in privately held companies |  |  |  |  |  |  |
Unrealized gain | 9 |  |  | 1 |  |  | 16 |  |  | 2 |
Unrealized loss | (6) |  |  | (2) |  |  | (13) |  |  | (12) |
Realized gain on sales and dividends | 1 |  |  | — |  |  | 8 |  |  | 3 |
Realized loss on sales or impairment | (22) |  |  | (19) |  |  | (27) |  |  | (19) |
Total gain (loss) on equity investments, net | $ | 298 |  |  | $ | (41) |  |  | $ | 299 |  |  | $ | 263 |

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- Definition The entire disclosure for cash, cash equivalent, investment in debt and equity securities, equity method investment, investment in joint venture, and investment classified as other. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 65 -Paragraph 13 -Subparagraph (d)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482477/820-10-65-13 + Details
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