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

6 Months Ended

Jun. 01, 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 June 1, 2018 (in thousands):



	Amortized Cost		Unrealized Gains		Unrealized Losses			Estimated Fair Value
Current assets:
Cash	$	345,475	$	—	$	—		$	345,475
Cash equivalents:
Corporate bonds and commercial paper	21,294		3		(1		)	21,296
Money market mutual funds	2,590,037		—		—			2,590,037
Time deposits	31,178		—		—			31,178
Total cash equivalents	2,642,509		3		(1		)	2,642,511
Total cash and cash equivalents	2,987,984		3		(1		)	2,987,986
Short-term fixed income securities:
Asset-backed securities	84,710		—		(823		)	83,887
Corporate debt securities	2,451,735		647		(32,110		)	2,420,272
Foreign government securities	3,852		—		(65		)	3,787
Municipal securities	19,236		—		(303		)	18,933
U.S. Treasury securities	822,735		—		(3,536		)	819,199
Total short-term investments	3,382,268		647		(36,837		)	3,346,078
Total cash, cash equivalents and short-term investments	$	6,370,252	$	650	$	(36,838	)	$	6,334,064

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 June 1, 2018 and December 1, 2017 (in thousands):



	2018					2017
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Corporate debt securities	$	1,806,212	$	(25,141	)	$	1,338,232	$	(5,459	)
Asset-backed securities	50,375		(525		)	64,618		(193		)
Municipal securities	17,987		(279		)	11,805		(115		)
Foreign government securities	3,787		(65		)	2,388		(8		)
U.S. Treasury securities	516,896		(2,231		)	593,296		(2,087		)
Total	$	2,395,257	$	(28,241	)	$	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 June 1, 2018 and December 1, 2017 (in thousands):



	2018					2017
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Corporate debt securities	$	461,358	$	(6,970	)	$	500,689	$	(4,666	)
Asset-backed securities	33,512		(298		)	32,383		(210		)
Municipal securities	945		(24		)	598		(17		)
U.S. Treasury securities	302,303		(1,305		)	338,950		(1,465		)
Total	$	798,118	$	(8,597	)	$	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 June 1, 2018 (in thousands):



	Amortized Cost		Estimated Fair Value
Due within one year	$	1,602,117	$	1,594,991
Due between one and two years	799,230		789,530
Due between two and three years	762,818		748,883
Due after three years	218,103		212,674
Total	$	3,382,268	$	3,346,078