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Cash, Cash Equivalents and Short-Term Investments (Tables)

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 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 securities			28						—						—						28
Money market mutual funds			3,483						—						—						3,483
Time deposits			118						—						—						118
Total cash equivalents			3,629						—						—						3,629
Total cash and cash equivalents			4,478						—						—						4,478
Short-term fixed income securities:
Asset-backed securities			105						1						—						106
Corporate debt securities			1,378						8						—						1,386
Foreign government securities			3						—						—						3
Municipal securities			19						—						—						19
Total short-term investments			1,505						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 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 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)			2020												2019
			Less Than Twelve Months						More Than Twelve Months						Less Than Twelve Months						More Than Twelve Months
Corporate debt securities			$	207					$	—					$	235					$	44
Asset-backed securities			22						—						7						7
Municipal securities			—						—						3						—
Foreign government securities			3						—						—						—
Total			$	232					$	—					$	245					$	51

Cost and Estimated Fair Value of Debt Securities

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 years			428						433
Due between two and three years			185						186
Due after three years			51						52
Total			$	1,505					$	1,514

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- References

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- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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- Definition

Tabular disclosure of the components of cash, cash equivalents, and investments.

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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=121645371&loc=d3e27290-111563

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