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Cash, Cash Equivalents and Short-Term Investments
 12 Months Ended
Nov. 27, 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 all highly liquid debt investments 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 (loss), which is reflected as a separate component of stockholders’ equity in our Consolidated Balance Sheets. Gains and losses are determined using the specific identification method and recognized when realized in our 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 November 27, 2020:
 (in millions)
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Estimated
Fair Value
Current assets:    
Cash$849 $— $— $849 
Cash equivalents:
Corporate debt securities28 — — 28 
Money market mutual funds3,483 — — 3,483 
Time deposits118 — — 118 
Total cash equivalents3,629 — — 3,629 
Total cash and cash equivalents4,478 — — 4,478 
Short-term fixed income securities:
Asset-backed securities105 1 — 106 
Corporate debt securities1,378 8 — 1,386 
Foreign government securities3 — — 3 
Municipal securities19 — — 19 
Total short-term investments1,505 9 — 1,514 
Total cash, cash equivalents and short-term investments$5,983 $9 $— $5,992 
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 securities46 — — 46 
Money market mutual funds2,049 — — 2,049 
Time deposits88 — — 88 
Total cash equivalents2,183 — — 2,183 
Total cash and cash equivalents2,650 — — 2,650 
Short-term fixed income securities: 
Asset-backed securities89 — — 89 
Corporate debt securities1,408 4 — 1,412 
Municipal securities18 — — 18 
U.S. Treasury securities8 — — 8 
Total short-term investments1,523 4 — 1,527 
Total cash, cash equivalents and short-term investments$4,173 $4 $— $4,177 
We had immaterial gross unrealized losses related to our available-for-sale securities as of November 27, 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 November 27, 2020 and November 29, 2019:
(in millions)20202019
 Less Than
Twelve Months		More Than
Twelve Months		Less Than
Twelve Months		More Than
Twelve Months
Corporate debt securities$207 $— $235 $44 
Asset-backed securities22 — 7 7 
Municipal securities— — 3 — 
Foreign government securities3 — — — 
Total$232 $— $245 $51 
There were 99 securities and 115 securities in an unrealized loss position for less than twelve months at November 27, 2020 and November 29, 2019, respectively. There were no securities and 38 securities in an unrealized loss position for more than twelve months at November 27, 2020 and November 29, 2019, respectively.
The following table summarizes the cost and estimated fair value of the fixed income securities classified as short-term investments based on stated effective maturities as of November 27, 2020:
 (in millions)Amortized
Cost		Estimated
Fair Value
Due within one year$841 $843 
Due between one and two years428 433 
Due between two and three years185 186 
Due after three years51 52 
Total$1,505 $1,514 
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 Consolidated Statements of Income. Any portion not related to credit loss would be recorded to accumulated other comprehensive income (loss), which is reflected as a separate component of stockholders’ equity in our Consolidated Balance Sheets. During fiscal 2020, 2019 and 2018, we did not consider any of our investments to be other-than-temporarily impaired.