Fair Value Measurements (Tables)

6 Months Ended

Jun. 04, 2021

The fair value of our financial assets and liabilities at June 4, 2021 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	$	14	$	—	$	14	$	—

Money market mutual funds	3,432		3,432		—		—

Time deposits	145		145		—		—


Short-term investments:
Asset-backed securities	109		—		109		—
Corporate debt securities	1,385		—		1,385		—


Municipal securities	24		—		24		—



Prepaid expenses and other current assets:
Foreign currency derivatives	37		—		37		—

Other assets:
Deferred compensation plan assets	143		5		138		—

Total assets	$	5,289	$	3,582	$	1,707	$	—


Liabilities:
Accrued expenses:

Foreign currency derivatives	$	5	$	—	$	5	$	—

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 funds	3,483		3,483		—		—

Time deposits	118		118		—		—

Short-term investments:
Asset-backed securities	106		—		106		—
Corporate debt securities	1,386		—		1,386		—
Foreign government securities	3		—		3		—

Municipal securities	19		—		19		—


Prepaid expenses and other current assets:
Foreign currency derivatives	15		—		15		—
Other assets:
Deferred compensation plan assets	116		7		109		—

Total assets	$	5,274	$	3,608	$	1,666	$	—


Liabilities:
Accrued expenses:

Foreign currency derivatives	$	4	$	—	$	4	$	—