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Cash, Cash Equivalents and Short-Term Investments (Tables) | 6 Months Ended
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May 29, 2020
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 May 29, 2020:
(in millions) | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value
Current assets: |  |  |  |  |  |  |
Cash | $ | 786 |  |  | $ | — |  |  | $ | — |  |  | $ | 786 |
Cash equivalents: |  |  |  |  |  |  |
Money market mutual funds | 2,192 |  |  | — |  |  | — |  |  | 2,192 |
Time deposits | 66 |  |  | — |  |  | — |  |  | 66 |
Total cash equivalents | 2,258 |  |  | — |  |  | — |  |  | 2,258 |
Total cash and cash equivalents | 3,044 |  |  | — |  |  | — |  |  | 3,044 |
Short-term fixed income securities: |  |  |  |  |  |  |
Asset-backed securities | 79 |  |  | 1 |  |  | — |  |  | 80 |
Corporate debt securities | 1,207 |  |  | 10 |  |  | (1 | ) |  | 1,216 |
Municipal securities | 11 |  |  | — |  |  | — |  |  | 11 |
Total short-term investments | 1,297 |  |  | 11 |  |  | (1 | ) |  | 1,307 |
Total cash, cash equivalents and short-term investments | $ | 4,341 |  |  | $ | 11 |  |  | $ | (1 | ) |  | $ | 4,351 |
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 |
Fair Value of Available-for-Sale Securities in a continuous loss position | We had immaterial gross unrealized losses related to our available-for-sale securities as of May 29, 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 May 29, 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 | $ | 206 |  |  | $ | — |  |  | $ | 235 |  |  | $ | 44 |
Asset-backed securities | 2 |  |  | — |  |  | 7 |  |  | 7 |
Municipal securities | 3 |  |  | — |  |  | 3 |  |  | — |
Total | $ | 211 |  |  | $ | — |  |  | $ | 245 |  |  | $ | 51 |
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 May 29, 2020:
(in millions) | Amortized Cost |  | Estimated Fair Value
Due within one year | $ | 890 |  |  | $ | 896 |
Due between one and two years | 258 |  |  | 260 |
Due between two and three years | 149 |  |  | 151 |
Total | $ | 1,297 |  |  | $ | 1,307 |

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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27290-111563 + Details
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