Fair Value Measurements (Tables)

6 Months Ended

May 29, 2020

The fair value of our financial assets and liabilities at May 29, 2020 was determined using the following inputs:



(in millions)	Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash equivalents:
Money market mutual funds	$	2,192	$	2,192	$	—	$	—
Time deposits	66		66		—		—
Short-term investments:
Asset-backed securities	80		—		80		—
Corporate debt securities	1,216		—		1,216		—
Municipal securities	11		—		11		—
Prepaid expenses and other current assets:
Foreign currency derivatives	38		—		38		—
Other assets:
Deferred compensation plan assets	99		8		91		—
Total assets	$	3,702	$	2,266	$	1,436	$	—



Liabilities:
Accrued expenses:
Foreign currency derivatives	$	5	$	—	$	5	$	—

The fair value of our financial assets and liabilities at November 29, 2019 was determined using the following inputs:



(in millions)	Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash equivalents:
Corporate debt securities	$	46	$	—	$	46	$	—
Money market mutual funds	2,049		2,049		—		—
Time deposits	88		88		—		—
Short-term investments:
Asset-backed securities	89		—		89		—
Corporate debt securities	1,412		—		1,412		—
Municipal securities	18		—		18		—
U.S. Treasury securities	8		—		8		—
Prepaid expenses and other current assets:
Foreign currency derivatives	29		—		29		—
Other assets:
Deferred compensation plan assets	94		5		89		—
Total assets	$	3,833	$	2,142	$	1,691	$	—



Liabilities:
Accrued expenses:
Treasury lock derivatives	$	30	$	—	$	30	$	—
Foreign currency derivatives	3		—		3		—
Total liabilities	$	33	$	—	$	33	$	—