Cash, Cash Equivalents and Short-Term Investments (Tables)

3 Months Ended

Mar. 02, 2018

Cash, Cash Equivalents, and Short-term Investments [Abstract]

Cash Cash Equivalents and Short term Investments

Cash, cash equivalents and short-term investments consisted of the following as of March 2, 2018 (in thousands):



	Amortized Cost		Unrealized Gains		Unrealized Losses			Estimated Fair Value
Current assets:
Cash	$	336,972	$	—	$	—		$	336,972
Cash equivalents:
Money market mutual funds	2,322,247		—		—			2,322,247
Time deposits	7,762		—		—			7,762
Total cash equivalents	2,330,009		—		—			2,330,009
Total cash and cash equivalents	2,666,981		—		—			2,666,981
Short-term fixed income securities:
Asset-backed securities	92,067		—		(810		)	91,257
Corporate debt securities	2,461,348		797		(29,828		)	2,432,317
Foreign government securities	3,852		—		(55		)	3,797
Municipal securities	19,249		—		(268		)	18,981
U.S. Treasury securities	939,016		7		(4,386		)	934,637
Total short-term investments	3,515,532		804		(35,347		)	3,480,989
Total cash, cash equivalents and short-term investments	$	6,182,513	$	804	$	(35,347	)	$	6,147,970

Cash, cash equivalents and short-term investments consisted of the following as of December 1, 2017 (in thousands):



	Amortized Cost		Unrealized Gains		Unrealized Losses			Estimated Fair Value
Current assets:
Cash	$	280,488	$	—	$	—		$	280,488
Cash equivalents:
Money market mutual funds	2,006,741		—		—			2,006,741
Time deposits	18,843		—		—			18,843
Total cash equivalents	2,025,584		—		—			2,025,584
Total cash and cash equivalents	2,306,072		—		—			2,306,072
Short-term fixed income securities:
Asset-backed securities	98,403		1		(403		)	98,001
Corporate debt securities	2,461,691		2,694		(10,125		)	2,454,260
Foreign government securities	2,396		—		(8		)	2,388
Municipal securities	21,189		8		(132		)	21,065
U.S. Treasury securities	941,538		2		(3,552		)	937,988
Total short-term investments	3,525,217		2,705		(14,220		)	3,513,702
Total cash, cash equivalents and short-term investments	$	5,831,289	$	2,705	$	(14,220	)	$	5,819,774

Continuous Unrealized Loss Position Less Than Twelve Months Related to Available-for-Sale Securities

The following table summarizes the fair value and gross unrealized losses related to available-for-sale securities, aggregated by investment category, that have been in an unrealized loss position for less than twelve months, as of March 2, 2018 and December 1, 2017 (in thousands):



	2018					2017
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Corporate debt securities	$	1,811,370	$	(22,326	)	$	1,338,232	$	(5,459	)
Asset-backed securities	57,439		(495		)	64,618		(193		)
Municipal securities	18,389		(246		)	11,805		(115		)
Foreign government securities	3,796		(55		)	2,388		(8		)
U.S. Treasury securities	592,296		(3,050		)	593,296		(2,087		)
Total	$	2,483,290	$	(26,172	)	$	2,010,339	$	(7,862	)

Continuous Unrealized Loss Position Twelve Months or Longer Related to Available-for-Sale-Securities

The following table summarizes the fair value and gross unrealized losses related to available-for-sale securities, aggregated by investment category, that were in a continuous unrealized loss position for more than twelve months, as of March 2, 2018 and December 1, 2017 (in thousands):



	2018					2017
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Corporate debt securities	$	479,654	$	(7,502	)	$	500,689	$	(4,666	)
Asset-backed securities	33,818		(315		)	32,383		(210		)
Municipal securities	592		(22		)	598		(17		)
U.S. Treasury securities	299,842		(1,336		)	338,950		(1,465		)
Total	$	813,906	$	(9,175	)	$	872,620	$	(6,358	)

Cost and Estimated Fair Value of Debt Securities

The following table summarizes the cost and estimated fair value of short-term fixed income securities classified as short-term investments based on stated effective maturities as of March 2, 2018 (in thousands):



	Amortized Cost		Estimated Fair Value
Due within one year	$	1,210,398	$	1,205,298
Due between one and two years	1,099,330		1,088,663
Due between two and three years	856,020		844,181
Due after three years	349,784		342,847
Total	$	3,515,532	$	3,480,989