v3.25.2
CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
 9 Months Ended
Aug. 29, 2025
Cash, Cash Equivalents, and Short-Term Investments [Abstract]  
CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
Cash equivalents consist of highly liquid marketable 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 of marketable debt securities are included in accumulated other comprehensive income (loss), 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 August 29, 2025:
(in millions)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Estimated
Fair Value
Current assets:    
Cash$940 $— $— $940 
Cash equivalents:
Corporate debt securities607 — — 607 
Money market funds3,389 — — 3,389 
Time deposits46 — — 46 
Total cash equivalents4,042 — — 4,042 
Total cash and cash equivalents4,982 — — 4,982 
Short-term fixed income securities:
Asset-backed securities1 — — 1 
Corporate debt securities700 — — 700 
U.S. Treasury securities257 — — 257 
Total short-term investments (1)
958 — — 958 
Total cash, cash equivalents and short-term investments$5,940 $— $— $5,940 

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(1)As of August 29, 2025, all short-term fixed income debt securities classified as short-term investments had stated effective maturities within one year.
Cash, cash equivalents and short-term investments consisted of the following as of November 29, 2024:
(in millions)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Estimated
Fair Value
Current assets:    
Cash$787 $— $— $787 
Cash equivalents:  
Corporate debt securities41 — — 41 
Money market funds6,726 — — 6,726 
Time deposits57 — — 57 
U.S. Treasury securities2 — — 2 
Total cash equivalents6,826 — — 6,826 
Total cash and cash equivalents7,613 — — 7,613 
Short-term fixed income securities: 
Asset-backed securities4 — — 4 
Corporate debt securities120 — — 120 
U.S. agency securities11 — — 11 
U.S. Treasury securities139 — (1)138 
Total short-term investments274 — (1)273 
Total cash, cash equivalents and short-term investments$7,887 $— $(1)$7,886 
See Note 4 for further information regarding the fair value of our financial instruments.
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 nine months ended August 29, 2025 and August 30, 2024, we did not recognize an allowance for credit-related losses on any of our investments.