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Derivative Financial Instruments (Tables)

12 Months Ended

Nov. 29, 2024

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 for the current portion and other assets for the long-term portion, and fair value liability derivatives are included in accrued expenses for the current portion and other liabilities for the long-term portion on our Consolidated Balance Sheets. The fair value of derivative instruments as of November 29, 2024 and December 1, 2023 were as follows:

(in millions)			2024												2023
			Fair Value Asset Derivatives						Fair Value Liability Derivatives						Fair Value Asset Derivatives						Fair Value Liability Derivatives
Derivatives designated as hedging instruments:
Foreign exchange contracts			$	128					$	10					$	43					$	—
Derivatives not designated as hedging instruments:
Foreign exchange contracts			1						1						9						4
Total derivatives			$	129					$	11					$	52					$	4

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 2024, 2023 and 2022 were as follows:

(in millions)			2024						2023						2022
Derivatives in cash flow hedging relationships:
Foreign exchange contracts			$	89					$	(12)					$	139

Schedule of Derivatives Instruments, Effect on Statements of Income

The effects of derivative instruments on our Consolidated Statements of Income for fiscal 2024, 2023 and 2022 were as follows:

(in millions)			Financial Statement Classification						2024						2023						2022
Derivatives in cash flow hedging relationships:
Foreign exchange contracts
Net gain (loss) reclassified from accumulated OCI into income			Revenue						$	(20)					$	41					$	176
Net gain (loss) reclassified from accumulated OCI into income			Operating expenses						$	4					$	(2)					$	—
Treasury lock
Net gain (loss) reclassified from accumulated OCI into income			Interest expense						$	(5)					$	(5)					$	(4)
Derivatives not designated as hedging relationships:
Foreign exchange contracts			Other income (expense), net						$	3					$	12					$	(29)

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- Definition

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
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E

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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

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-Section 50
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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
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
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