Financial Instruments (Tables)

6 Months Ended

Mar. 26, 2022

Investments, All Other Investments [Abstract]

Cash, Cash Equivalents and Marketable Securities by Significant Investment Category

The following tables show the Company’s cash, cash equivalents and marketable securities by significant investment category as of March 26, 2022 and September 25, 2021 (in millions):

	March 26, 2022
	Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value		Cash and Cash Equivalents		Current Marketable Securities		Non-Current Marketable Securities
Cash	$	14,298	$	—	$	—	$	14,298	$	14,298	$	—	$	—
Level 1 (1):
Money market funds	7,653		—		—		7,653		7,653		—		—
Mutual funds	230		7		(9)		228		—		228		—
Subtotal	7,883		7		(9)		7,881		7,653		228		—
Level 2 (2):
Equity securities	1,527		—		(1,132)		395		—		395		—
U.S. Treasury securities	28,711		2		(1,037)		27,676		2,306		3,554		21,816
U.S. agency securities	6,561		—		(407)		6,154		251		683		5,220
Non-U.S. government securities	18,868		44		(551)		18,361		25		4,526		13,810
Certificates of deposit and time deposits	2,872		—		—		2,872		2,221		601		50
Commercial paper	2,913		—		—		2,913		1,310		1,603		—
Corporate debt securities	93,057		94		(4,266)		88,885		34		11,309		77,542
Municipal securities	990		1		(22)		969		—		162		807
Mortgage- and asset-backed securities	23,613		3		(1,290)		22,326		—		352		21,974
Subtotal	179,112		144		(8,705)		170,551		6,147		23,185		141,219
Total (3)	$	201,293	$	151	$	(8,714)	$	192,730	$	28,098	$	23,413	$	141,219

	September 25, 2021
	Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value		Cash and Cash Equivalents		Current Marketable Securities		Non-Current Marketable Securities
Cash	$	17,305	$	—	$	—	$	17,305	$	17,305	$	—	$	—
Level 1 (1):
Money market funds	9,608		—		—		9,608		9,608		—		—
Mutual funds	175		11		(1)		185		—		185		—
Subtotal	9,783		11		(1)		9,793		9,608		185		—
Level 2 (2):
Equity securities	1,527		—		(564)		963		—		963		—
U.S. Treasury securities	22,878		102		(77)		22,903		3,596		6,625		12,682
U.S. agency securities	8,949		2		(64)		8,887		1,775		1,930		5,182
Non-U.S. government securities	20,201		211		(101)		20,311		390		3,091		16,830
Certificates of deposit and time deposits	1,300		—		—		1,300		490		810		—
Commercial paper	2,639		—		—		2,639		1,776		863		—
Corporate debt securities	83,883		1,242		(267)		84,858		—		12,327		72,531
Municipal securities	967		14		—		981		—		130		851
Mortgage- and asset-backed securities	20,529		171		(124)		20,576		—		775		19,801
Subtotal	162,873		1,742		(1,197)		163,418		8,027		27,514		127,877
Total (3)	$	189,961	$	1,753	$	(1,198)	$	190,516	$	34,940	$	27,699	$	127,877

(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 March 26, 2022 and September 25, 2021, total marketable securities included $15.4 billion and $17.9 billion, respectively, that were restricted from general use, related to the European Commission decision finding that Ireland granted state aid to the Company, and other agreements.

Non-Current Marketable Debt Securities by Contractual Maturity

The following table shows the fair value of the Company’s non-current marketable debt securities, by contractual maturity, as of March 26, 2022 (in millions):

Due after 1 year through 5 years	$	97,603
Due after 5 years through 10 years	22,899
Due after 10 years	20,717
Total fair value	$	141,219

Notional Amounts of Outstanding Derivative Instruments

The notional amounts of the Company’s outstanding derivative instruments as of March 26, 2022 and September 25, 2021 were as follows (in millions):

	March 26, 2022		September 25, 2021
Derivative instruments designated as accounting hedges:
Foreign exchange contracts	$	65,140	$	76,475
Interest rate contracts	$	20,775	$	16,875
Derivative instruments not designated as accounting hedges:
Foreign exchange contracts	$	110,758	$	126,918

Carrying Amounts of Hedged Items in Fair Value Hedges

The carrying amounts of the Company’s hedged items in fair value hedges as of March 26, 2022 and September 25, 2021 were as follows (in millions):

	March 26, 2022		September 25, 2021
Hedged assets/(liabilities):
Current and non-current marketable securities	$	14,943	$	15,954
Current and non-current term debt	$	(19,766)	$	(17,857)