Fair Value Measurements (Tables)

9 Months Ended

Sep. 02, 2022

The fair value of our financial assets and liabilities at September 2, 2022 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	$	21	$	—	$	21	$	—

Money market funds	3,202		3,202		—		—

Time deposits	25		25		—		—
U.S. agency securities	13		—		13		—
U.S. Treasury securities	14		—		14		—
Short-term investments:
Asset-backed securities	112		—		112		—
Corporate debt securities	1,300		—		1,300		—
Foreign government securities	5		—		5		—

Municipal securities	23		—		23		—

U.S. agency securities	19		—		19		—
U.S. Treasury securities	435		—		435		—
Prepaid expenses and other current assets:
Foreign currency derivatives	183		—		183		—

Other assets:
Deferred compensation plan assets	150		150		—		—

Total assets	$	5,502	$	3,377	$	2,125	$	—


Liabilities:
Accrued expenses:

Foreign currency derivatives	$	9	$	—	$	9	$	—

The fair value of our financial assets and liabilities at December 3, 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	$	5	$	—	$	5	$	—
Money market funds	2,914		2,914		—		—

Time deposits	175		175		—		—

Short-term investments:
Asset-backed securities	124		—		124		—
Corporate debt securities	1,425		—		1,425		—


Municipal securities	28		—		28		—

U.S. Treasury securities	377		—		377		—
Prepaid expenses and other current assets:
Foreign currency derivatives	98		—		98		—
Other assets:
Deferred compensation plan assets	151		151		—		—

Total assets	$	5,297	$	3,240	$	2,057	$	—


Liabilities:
Accrued expenses:

Foreign currency derivatives	$	8	$	—	$	8	$	—