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Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 02, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Instruments

Fair value asset derivatives are included in prepaid expenses and other current assets and fair value liability derivatives are included in accrued expenses on our Consolidated Balance Sheets. The fair value of derivative instruments on our Consolidated Balance Sheets as of December 2, 2022 and December 3, 2021 were as follows:

(in millions)			2022												2021
			Fair Value Asset Derivatives						Fair Value Liability Derivatives						Fair Value Asset Derivatives						Fair Value Liability Derivatives
Derivatives designated as hedging instruments:
Foreign exchange option contracts			$	36					$	—					$	91					$	—
Foreign exchange forward contracts			—						7						—						—
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts			15						8						7						8
Total derivatives			$	51					$	15					$	98					$	8

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

Gains (losses) on derivative instruments, net of tax, recognized in our Consolidated Statements of Comprehensive Income for fiscal 2022, 2021 and 2020 were as follows:

(in millions)			2022						2021						2020
Derivatives in cash flow hedging relationships:
Foreign exchange option contracts			$	144					$	69					$	(43)
Foreign exchange forward contracts			$	(5)					$	—					$	—
Treasury lock			$	—					$	—					$	(1)

Schedule of Derivatives Instruments, Effect on Statements of Income

The effects of derivative instruments on our Consolidated Statements of Income for fiscal 2022, 2021 and 2020 were as follows:

(in millions)			Financial Statement Classification						2022						2021						2020
Derivatives in cash flow hedging relationships:
Foreign exchange option contracts
Net gain (loss) reclassified from accumulated OCI into income			Revenue						$	176					$	(16)					$	3
Treasury lock
Net gain (loss) reclassified from accumulated OCI into income			Interest expense						$	(4)					$	(4)					$	(3)
Derivatives not designated as hedging relationships:
Foreign exchange forward contracts			Other income (expense), net						$	(29)					$	(3)					$	5

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
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