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Cash, Cash Equivalents and Short-Term Investments
 6 Months Ended
Jun. 04, 2021
Cash, Cash Equivalents, and Short-term Investments [Abstract]  
CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTSCash equivalents consist of highly liquid marketable debt securities 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 unrealized non-credit-related losses are included in accumulated other comprehensive income, net of taxes, in our condensed consolidated balance sheets. Unrealized credit-related losses are recorded to other income (expense), net in our condensed consolidated statements of income with a corresponding allowance for credit-related losses in our condensed consolidated
balance sheets. Gains and losses are determined using the specific identification method and recognized when realized in our condensed consolidated statements of income.
Cash, cash equivalents and short-term investments consisted of the following as of June 4, 2021:
(in millions)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Estimated
Fair Value
Current assets:    
Cash$659 $— $— $659 
Cash equivalents:
Corporate debt securities14 — — 14 
Money market mutual funds3,432 — — 3,432 
Time deposits145 — — 145 
Total cash equivalents3,591 — — 3,591 
Total cash and cash equivalents4,250 — — 4,250 
Short-term fixed income securities:
Asset-backed securities109 — — 109 
Corporate debt securities1,379 6 — 1,385 
Municipal securities24 — — 24 
Total short-term investments1,512 6 — 1,518 
Total cash, cash equivalents and short-term investments$5,762 $6 $— $5,768 
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 

The following table summarizes the estimated fair value of short-term fixed income securities classified as short-term investments based on stated effective maturities as of June 4, 2021:
(in millions)Estimated
Fair Value
Due within one year$760 
Due between one and two years452 
Due between two and three years283 
Due after three years23 
Total$1,518 
We review our debt securities classified as short-term investments on a regular basis for impairment. For debt securities in unrealized loss positions, we determine whether any portion of the decline in fair value below the amortized cost basis is due to credit-related factors if we neither intend to sell nor anticipate that it is more likely than not that we will be required to sell prior to recovery of the amortized cost basis. We consider factors such as the extent to which the market value has been less than the cost, any noted failure of the issuer to make scheduled payments, changes to the rating of the security and other relevant credit-related factors in determining whether or not a credit loss exists. During the six months ended June 4, 2021, we did not recognize an allowance for credit-related losses on any of our investments.