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Financial Instruments (Tables)
 3 Months Ended
Dec. 26, 2020
Investments, All Other Investments [Abstract]  
Cash and Marketable Securities by Significant Investment Category
The following tables show the Company’s cash and marketable securities by significant investment category as of December 26, 2020 and September 26, 2020 (in millions):
December 26, 2020
Adjusted
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Current
Marketable
Securities
Non-Current
Marketable
Securities
Cash$18,729 $— $— $18,729 $18,729 $— $— 
Level 1 (1): Money market funds
6,312 — — 6,312 6,312 — — 
Level 2 (2):
U.S. Treasury securities21,939 270 (6)22,203 3,227 8,527 10,449 
U.S. agency securities8,698 9 (1)8,706 1,000 3,319 4,387 
Non-U.S. government securities20,185 395 (67)20,513 100 2,874 17,539 
Certificates of deposit and time deposits
8,002 — — 8,002 5,009 2,623 370 
Commercial paper8,620 — — 8,620 1,632 6,988 — 
Corporate debt securities83,042 2,155 (44)85,153 1 16,117 69,035 
Municipal securities1,004 20 — 1,024 — 94 930 
Mortgage- and asset-backed securities
16,051 281 (23)16,309 — 274 16,035 
Subtotal167,541 3,130 (141)170,530 10,969 40,816 118,745 
Total (3)
$192,582 $3,130 $(141)$195,571 $36,010 $40,816 $118,745 
September 26, 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 — — 
Level 2 (2):
U.S. Treasury securities28,439 331 — 28,770 8,580 11,972 8,218 
U.S. agency securities8,604 8 — 8,612 2,009 3,078 3,525 
Non-U.S. government securities19,361 275 (186)19,450 255 3,329 15,866 
Certificates of deposit and time deposits
10,399 — — 10,399 4,043 6,246 110 
Commercial paper11,226 — — 11,226 3,185 8,041 — 
Corporate debt securities76,937 1,834 (175)78,596 — 19,687 58,909 
Municipal securities1,001 22 — 1,023 — 139 884 
Mortgage- and asset-backed securities
13,520 314 (24)13,810 — 435 13,375 
Subtotal169,487 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 
(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 December 26, 2020 and September 26, 2020, total marketable securities included $19.5 billion and $18.6 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 Condensed Consolidated Balance Sheets to cash, cash equivalents and restricted cash in the Condensed Consolidated Statements of Cash Flows as of December 26, 2020 and September 26, 2020 is as follows (in millions):
December 26,
2020		September 26,
2020
Cash and cash equivalents$36,010 $38,016 
Restricted cash1,709 1,773 
Cash, cash equivalents and restricted cash$37,719 $39,789 
Derivative Instruments at Gross Fair Value The following tables show the Company’s derivative instruments at gross fair value as of December 26, 2020 and September 26, 2020 (in millions):
December 26, 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$524 $780 $1,304 
Interest rate contracts$1,443 $— $1,443 
Derivative liabilities (2):
Foreign exchange contracts$2,332 $1,314 $3,646 
September 26, 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 $2,046 
(1)The fair value of derivative assets is measured using Level 2 fair value inputs and is included in other current assets and other non-current assets in the Condensed Consolidated Balance Sheets.
(2)The fair value of derivative liabilities is measured using Level 2 fair value inputs and is included in other current liabilities and other non-current liabilities in the Condensed Consolidated Balance Sheets.
Pre-Tax Gains and Losses of Derivative and Non-Derivative Instruments Designated as Cash Flow and Net Investment Hedges
The following table shows the pre-tax gains and losses of the Company’s derivative and non-derivative instruments designated as cash flow and net investment hedges in OCI and the Condensed Consolidated Statements of Operations for the three months ended December 26, 2020 and December 28, 2019 (in millions):
Three Months Ended
December 26,
2020		December 28,
2019
Gains/(Losses) recognized in OCI – included in effectiveness assessment:
Cash flow hedges:
Foreign exchange contracts$(191)$271 
Interest rate contracts54 — 
Total$(137)$271 
Net investment hedges:
Foreign currency debt$— $24 
Gains/(Losses) reclassified from AOCI into net income – included in effectiveness assessment:
Cash flow hedges:
Foreign exchange contracts$314 $491 
Interest rate contracts(3)(2)
Total$311 $489 
Derivative Instruments Designated as Fair Value Hedges and the Related Hedged Items
The following tables show information about the Company’s derivative instruments designated as fair value hedges and the related hedged items for the three months ended December 26, 2020 and December 28, 2019 and as of December 26, 2020 and September 26, 2020 (in millions):
Three Months Ended
December 26,
2020		December 28,
2019
Gains/(Losses) on derivative instruments (1):
Foreign exchange contracts$(753)$(183)
Interest rate contracts(167)(162)
Total$(920)$(345)
Gains/(Losses) related to hedged items (1):
Marketable securities$752 $183 
Fixed-rate debt167 162 
Total$919 $345 
December 26,
2020		September 26,
2020
Carrying amounts of hedged assets/(liabilities):
Marketable securities (2)
$17,009 $16,270 
Fixed-rate debt (3)
$(20,866)$(21,033)
Cumulative hedging adjustments included in the carrying amounts of hedged items:
Marketable securities carrying amount increases/(decreases)$956 $493 
Fixed-rate debt carrying amount (increases)/decreases$(1,374)$(1,541)
(1)Gains and losses related to fair value hedges are included in OI&E in the Condensed 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 Condensed Consolidated Balance Sheets
(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 Condensed Consolidated Balance Sheets.
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 December 26, 2020 and September 26, 2020 (in millions):
December 26, 2020September 26, 2020
Notional
Amount		Credit Risk
Amount		Notional
Amount		Credit Risk
Amount
Instruments designated as accounting hedges:
Foreign exchange contracts$71,191 $524 $57,410 $749 
Interest rate contracts$20,900 $1,443 $20,700 $1,557 
Instruments not designated as accounting hedges:
Foreign exchange contracts$123,267 $780 $88,636 $303