XML 84 R11.htm IDEA: XBRL DOCUMENT
v3.20.1

Cash, Cash Equivalents and Short-Term Investments | 3 Months Ended
--- | ---
Feb. 28, 2020
Cash, Cash Equivalents, and Short-term Investments [Abstract] |
CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS | CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS Cash equivalents consist of highly liquid marketable debt securities with remaining maturities of three months or less at the date of purchase. We classify our investments in marketable debt securities as “available-for-sale.” We carry these investments at fair value, based on quoted market prices or other readily available market information. Unrealized gains and losses, net of taxes, are included in accumulated other comprehensive income, which is reflected as a separate component of stockholders’ equity in our condensed consolidated balance sheets. Gains and losses are determined using the specific identification method and recognized when realized in our condensed consolidated statements of income. When we have determined that an other-than-temporary decline in fair value has occurred, the amount of the decline that is related to a credit loss is recognized in income. Cash, cash equivalents and short-term investments consisted of the following as of February 28, 2020:
(in millions) | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value
Current assets: |  |  |  |  |  |  |
Cash | $ | 473 |  |  | $ | — |  |  | $ | — |  |  | $ | 473 |
Cash equivalents: |  |  |  |  |  |  |
Corporate debt securities | 45 |  |  | — |  |  | — |  |  | 45 |
Money market mutual funds | 2,143 |  |  | — |  |  | — |  |  | 2,143 |
Time deposits | 27 |  |  | — |  |  | — |  |  | 27 |
Total cash equivalents | 2,215 |  |  | — |  |  | — |  |  | 2,215 |
Total cash and cash equivalents | 2,688 |  |  | — |  |  | — |  |  | 2,688 |
Short-term fixed income securities: |  |  |  |  |  |  |
Asset-backed securities | 95 |  |  | 1 |  |  | — |  |  | 96 |
Corporate debt securities | 1,368 |  |  | 8 |  |  | — |  |  | 1,376 |
Municipal securities | 11 |  |  | — |  |  | — |  |  | 11 |
Total short-term investments | 1,474 |  |  | 9 |  |  | — |  |  | 1,483 |
Total cash, cash equivalents and short-term investments | $ | 4,162 |  |  | $ | 9 |  |  | $ | — |  |  | $ | 4,171 |
Cash, cash equivalents and short-term investments consisted of the following as of November 29, 2019:
(in millions) | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value
Current assets: |  |  |  |  |  |  |
Cash | $ | 467 |  |  | $ | — |  |  | $ | — |  |  | $ | 467 |
Cash equivalents: |  |  |  |  |  |  |  |  |
Corporate debt securities | 46 |  |  | — |  |  | — |  |  | 46 |
Money market mutual funds | 2,049 |  |  | — |  |  | — |  |  | 2,049 |
Time deposits | 88 |  |  | — |  |  | — |  |  | 88 |
Total cash equivalents | 2,183 |  |  | — |  |  | — |  |  | 2,183 |
Total cash and cash equivalents | 2,650 |  |  | — |  |  | — |  |  | 2,650 |
Short-term fixed income securities: |  |  |  |  |  |  |  |
Asset-backed securities | 89 |  |  | — |  |  | — |  |  | 89 |
Corporate debt securities | 1,408 |  |  | 4 |  |  | — |  |  | 1,412 |
Municipal securities | 18 |  |  | — |  |  | — |  |  | 18 |
U.S. Treasury securities | 8 |  |  | — |  |  | — |  |  | 8 |
Total short-term investments | 1,523 |  |  | 4 |  |  | — |  |  | 1,527 |
Total cash, cash equivalents and short-term investments | $ | 4,173 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 4,177 |
See Note 5 for further information regarding the fair value of our financial instruments. We had immaterial gross unrealized losses related to our available-for-sale securities as of February 28, 2020 and November 29, 2019. The following table summarizes the fair value of our available-for-sale securities that have been in a continuous unrealized loss position as of February 28, 2020 and November 29, 2019:
(in millions) | 2020 |  | 2019
| Less Than Twelve Months |  | More Than Twelve Months |  | Less Than Twelve Months |  | More Than Twelve Months
Corporate debt securities | $ | 70 |  |  | $ | 9 |  |  | $ | 235 |  |  | $ | 44 |
Asset-backed securities | 3 |  |  | — |  |  | 7 |  |  | 7 |
Municipal securities | — |  |  | — |  |  | 3 |  |  | — |
Total | $ | 73 |  |  | $ | 9 |  |  | $ | 245 |  |  | $ | 51 |
There were 4 securities and 38 securities in an unrealized loss position for more than twelve months at February 28, 2020 and at November 29, 2019, respectively. There were 27 securities and 115 securities in an unrealized loss position for less than twelve months at February 28, 2020 and at November 29, 2019, respectively. 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 February 28, 2020:
(in millions) | Amortized Cost |  | Estimated Fair Value
Due within one year | $ | 922 |  |  | $ | 925 |
Due between one and two years | 364 |  |  | 367 |
Due between two and three years | 188 |  |  | 191 |
Total | $ | 1,474 |  |  | $ | 1,483 |
We review our debt securities classified as short-term investments on a regular basis to evaluate whether or not any security has experienced an other-than-temporary decline in fair value. We consider factors such as the length of time and extent to which the market value has been less than the cost, the financial condition and near-term prospects of the issuer and our intent to sell, or whether it is more likely than not we will be required to sell the investment before recovery of the investment’s amortized cost basis. If we believe that an other-than-temporary decline exists in one of these securities, we write down these investments to fair value. The portion of the write-down related to credit loss would be recorded to other income (expense), net in our condensed consolidated statements of income. Any portion not related to credit loss would be recorded to accumulated other comprehensive income, which is reflected as a separate component of stockholders’ equity in our condensed consolidated balance sheets. During the three months ended February 28, 2020 and March 1, 2019, we did not consider any of our investments to be other-than-temporarily impaired.

X
- References No definition available. + Details
Name: | us-gaap_CashCashEquivalentsAndShortTermInvestmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of the components of cash, cash equivalents, and short-term investments. Short-term investments may include current marketable securities. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
Name: | us-gaap_CashCashEquivalentsAndShortTermInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration