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Financial Instruments (Tables)
 12 Months Ended
Sep. 26, 2020
Investments, All Other Investments [Abstract]  
Cash and Available-for-Sale Securities by Significant Investment Category
The following tables show the Company’s cash and marketable securities by significant investment category as of September 26, 2020 and September 28, 2019 (in millions):
2020
Adjusted
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Current
Marketable
Securities		Non-Current
Marketable
Securities
Cash
$17,773 $— $— $17,773 $17,773 $— $— 
Level 1 (1):
Money market funds
2,171 — — 2,171 2,171 — — 
Subtotal
2,171 — — 2,171 2,171 — — 
Level 2 (2):
U.S. Treasury securities
28,439 331 — 28,770 8,580 11,972 8,218 
U.S. agency securities
8,604 8 — 8,612 2,009 3,078 3,525 
Non-U.S. government securities
19,361 275 (186)19,450 255 3,329 15,866 
Certificates of deposit and time deposits
10,399 — — 10,399 4,043 6,246 110 
Commercial paper
11,226 — — 11,226 3,185 8,041 — 
Corporate debt securities
76,937 1,834 (175)78,596 — 19,687 58,909 
Municipal securities
1,001 22 — 1,023 — 139 884 
Mortgage- and asset-backed securities
13,520 314 (24)13,810 — 435 13,375 
Subtotal
169,487 2,784 (385)171,886 18,072 52,927 100,887 
Total (3)
$189,431 $2,784 $(385)$191,830 $38,016 $52,927 $100,887 
2019
Adjusted
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Current
Marketable
Securities		Non-Current
Marketable
Securities
Cash
$12,204 $— $— $12,204 $12,204 $— $— 
Level 1 (1):
Money market funds
15,897 — — 15,897 15,897 — — 
Subtotal
15,897 — — 15,897 15,897 — — 
Level 2 (2):
U.S. Treasury securities
30,293 33 (62)30,264 6,165 9,817 14,282 
U.S. agency securities
9,767 1 (3)9,765 6,489 2,249 1,027 
Non-U.S. government securities
19,821 337 (50)20,108 749 3,168 16,191 
Certificates of deposit and time deposits
4,041 — — 4,041 2,024 1,922 95 
Commercial paper
12,433 — — 12,433 5,193 7,240 — 
Corporate debt securities
85,383 756 (92)86,047 123 26,127 59,797 
Municipal securities
958 8 (1)965 — 68 897 
Mortgage- and asset-backed securities
14,180 67 (73)14,174 — 1,122 13,052 
Subtotal
176,876 1,202 (281)177,797 20,743 51,713 105,341 
Total (3)
$204,977 $1,202 $(281)$205,898 $48,844 $51,713 $105,341 
(1)Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities.
(2)Level 2 fair value estimates are based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
(3)As of September 26, 2020 and September 28, 2019, total marketable securities included $18.6 billion and $18.9 billion, respectively, that was restricted from general use, related to the State Aid Decision (refer to Note 5, “Income Taxes”) and other agreements.
Cash, Cash Equivalents and Restricted Cash Reconciliation
A reconciliation of the Company’s cash and cash equivalents in the Consolidated Balance Sheets to cash, cash equivalents and restricted cash in the Consolidated Statements of Cash Flows as of September 26, 2020 and September 28, 2019 is as follows (in millions):
20202019
Cash and cash equivalents$38,016 $48,844 
Restricted cash included in other current assets36 23 
Restricted cash included in other non-current assets1,737 1,357 
Cash, cash equivalents and restricted cash$39,789 $50,224 
Derivative Instruments at Gross Fair Value The following tables show the Company’s derivative instruments at gross fair value as of September 26, 2020 and September 28, 2019 (in millions):
2020
Fair Value of
Derivatives Designated
as Hedge Instruments		Fair Value of
Derivatives Not Designated
as Hedge Instruments		Total
Fair Value
Derivative assets (1):
Foreign exchange contracts
$749 $303 $1,052 
Interest rate contracts
$1,557 $— $1,557 
Derivative liabilities (2):
Foreign exchange contracts
$1,561 $485 $2,046 
2019
Fair Value of
Derivatives Designated
as Hedge Instruments		Fair Value of
Derivatives Not Designated
as Hedge Instruments		Total
Fair Value
Derivative assets (1):
Foreign exchange contracts
$1,798 $323 $2,121 
Interest rate contracts
$685 $— $685 
Derivative liabilities (2):
Foreign exchange contracts
$1,341 $160 $1,501 
Interest rate contracts
$105 $— $105 
(1)The fair value of derivative assets is measured using Level 2 fair value inputs and is included in other current assets and other non-current assets in the Consolidated Balance Sheets.
(2)The fair value of derivative liabilities is measured using Level 2 fair value inputs and is included in other current liabilities and other non-current liabilities in the Consolidated Balance Sheets.
Pre-Tax Gains and Losses of Derivative and Non-Derivative Instruments Designated as Cash Flow and Net Investment Hedges
The following table shows the pre-tax gains and losses of the Company’s derivative and non-derivative instruments designated as cash flow and fair value hedges in OCI and the Consolidated Statements of Operations for 2020, 2019 and 2018 (in millions):
202020192018
Gains/(Losses) recognized in OCI – included in effectiveness assessment:
Cash flow hedges:
Foreign exchange contracts
$365 $(959)$682 
Interest rate contracts
(57)— 1 
Total
$308 $(959)$683 
Net investment hedges:
Foreign currency debt
$15 $(58)$4 
Gains/(Losses) reclassified from AOCI into net income – included in effectiveness assessment:
Cash flow hedges:
Foreign exchange contracts
$1,553 $(116)$(482)
Interest rate contracts
(8)(7)1 
Total
$1,545 $(123)$(481)
Derivative Instruments Designated as Fair Value Hedges and the Related Hedged Items
The following tables show information about the Company’s derivative instruments designated as fair value hedges and the related hedged items for 2020, 2019 and 2018 and as of September 26, 2020 (in millions):
202020192018
Gains/(Losses) on derivative instruments (1):
Foreign exchange contracts$(992)$1,020 $(168)
Interest rate contracts1,114 2,068 (1,363)
Total$122 $3,088 $(1,531)
Gains/(Losses) related to hedged items (1):
Marketable securities$991 $(1,018)$167 
Fixed-rate debt(1,114)(2,068)1,363 
Total$(123)$(3,086)$1,530 
2020
Carrying amounts of hedged assets/(liabilities):
Marketable securities (2)
$16,270 
Fixed-rate debt (3)
$(21,033)
Cumulative hedging adjustments included in the carrying amounts of hedged items:
Marketable securities carrying amount increases/(decreases)$493 
Fixed-rate debt carrying amount (increases)/decreases$(1,541)
(1)Gains and losses related to fair value hedges are included in OI&E in the Consolidated Statements of Operations.
(2)The carrying amounts of marketable securities that are designated as hedged items in fair value hedges are included in current marketable securities and non-current marketable securities in the Consolidated Balance Sheet.
(3)The carrying amounts of fixed-rate debt instruments that are designated as hedged items in fair value hedges are included in current term debt and non-current term debt in the Consolidated Balance Sheet.
Notional Amounts of Outstanding Derivative Instruments and Credit Risk Amounts Associated with Outstanding or Unsettled Derivative Instruments
The following table shows the notional amounts of the Company’s outstanding derivative instruments and credit risk amounts associated with outstanding or unsettled derivative instruments as of September 26, 2020 and September 28, 2019 (in millions):
20202019
Notional
Amount		Credit Risk
Amount		Notional
Amount		Credit Risk
Amount
Instruments designated as accounting hedges:
Foreign exchange contracts
$57,410 $749 $61,795 $1,798 
Interest rate contracts
$20,700 $1,557 $31,250 $685 
Instruments not designated as accounting hedges:
Foreign exchange contracts
$88,636 $303 $76,868 $323