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Fair Value Measurements
 12 Months Ended
Nov. 27, 2020
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis 
We measure certain financial assets and liabilities at fair value on a recurring basis. There have been no transfers between fair value measurement levels during the year ended November 27, 2020.
The fair value of our financial assets and liabilities at November 27, 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:    
Corporate debt securities$28 $— $28 $— 
Money market mutual funds3,483 3,483 — — 
Time deposits118 118 — — 
Short-term investments:
Asset-backed securities106 — 106 — 
Corporate debt securities1,386 — 1,386 — 
Foreign government securities3 — 3 — 
Municipal securities19 — 19 — 
Prepaid expenses and other current assets:   
Foreign currency derivatives15 — 15 — 
Other assets:   
Deferred compensation plan assets116 7 109 — 
Total assets$5,274 $3,608 $1,666 $— 
    
Liabilities:    
Accrued expenses:    
Foreign currency derivatives$4 $— $4 $— 
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 funds2,049 2,049 — — 
Time deposits88 88 — — 
Short-term investments: 
Asset-backed securities89 — 89 — 
Corporate debt securities1,412 — 1,412 — 
Municipal securities18 — 18 — 
U.S. Treasury securities 8 — 8 — 
Prepaid expenses and other current assets:    
Foreign currency derivatives29 — 29 — 
Other assets:    
Deferred compensation plan assets94 5 89 — 
Total assets$3,833 $2,142 $1,691 $— 
    
Liabilities:    
Accrued expenses:    
Treasury lock derivatives$30 $— $30 $— 
Foreign currency derivatives3 — 3 — 
Total liabilities$33 $— $33 $— 

Our fixed income available-for-sale debt securities consist of high quality, investment grade securities from diverse issuers with a weighted average credit rating of A+. We value these securities based on pricing from independent pricing vendors who use matrix pricing valuation techniques including market approach methodologies that model information generated by market transactions involving identical or comparable assets, as well as discounted cash flow methodologies. Inputs include quoted prices in active markets for identical assets or inputs other than quoted prices that are observable either directly or indirectly in determining fair value, including benchmark yields, issuer spreads off benchmark yields, interest rates and U.S. Treasury or swap curves. We therefore classify all of our fixed income available-for-sale securities as Level 2. We perform routine procedures such as comparing prices obtained from multiple independent sources to ensure that appropriate fair values are recorded.
The fair values of our money market mutual funds and time deposits are based on the closing price of these assets as of the reporting date. We classify our money market mutual funds and time deposits as Level 1.
Our Level 2 over-the-counter foreign currency derivatives are valued using pricing models and discounted cash flow methodologies based on observable foreign exchange and interest rate data at the measurement date.
The invested amounts under our deferred compensation plan consist of money market mutual funds and other mutual funds, which are recorded as other assets on our Consolidated Balance Sheets with a corresponding offset to long-term liabilities.
Our other current financial assets and current financial liabilities have fair values that approximate their carrying values.
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
The fair value of our senior notes was $4.48 billion as of November 27, 2020, based on observable market prices in less active markets and categorized as Level 2. See Note 17 for further details regarding our debt.