Cash, Cash Equivalents and Short-Term Investments (Tables)

3 Months Ended

Feb. 28, 2020

Cash, Cash Equivalents, and Short-term Investments [Abstract]

Cash Cash Equivalents and Short term Investments

Cash, cash equivalents and short-term investments consisted of the following as of February 28, 2020:

(in millions)	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Current assets:
Cash	$	473	$	—	$	—	$	473
Cash equivalents:
Corporate debt securities	45		—		—		45
Money market mutual funds	2,143		—		—		2,143
Time deposits	27		—		—		27
Total cash equivalents	2,215		—		—		2,215
Total cash and cash equivalents	2,688		—		—		2,688
Short-term fixed income securities:
Asset-backed securities	95		1		—		96
Corporate debt securities	1,368		8		—		1,376
Municipal securities	11		—		—		11
Total short-term investments	1,474		9		—		1,483
Total cash, cash equivalents and short-term investments	$	4,162	$	9	$	—	$	4,171

Cash, cash equivalents and short-term investments consisted of the following as of November 29, 2019:

(in millions)	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Current assets:
Cash	$	467	$	—	$	—	$	467
Cash equivalents:
Corporate debt securities	46		—		—		46
Money market mutual funds	2,049		—		—		2,049
Time deposits	88		—		—		88
Total cash equivalents	2,183		—		—		2,183
Total cash and cash equivalents	2,650		—		—		2,650
Short-term fixed income securities:
Asset-backed securities	89		—		—		89
Corporate debt securities	1,408		4		—		1,412
Municipal securities	18		—		—		18
U.S. Treasury securities	8		—		—		8
Total short-term investments	1,523		4		—		1,527
Total cash, cash equivalents and short-term investments	$	4,173	$	4	$	—	$	4,177

Fair Value of Available-for-Sale Securities in a continuous loss position

We had immaterial gross unrealized losses related to our available-for-sale securities as of February 28, 2020 and November 29, 2019. The following table summarizes the fair value of our available-for-sale securities that have been in a continuous unrealized loss position as of February 28, 2020 and November 29, 2019:

(in millions)	2020				2019
	Less Than Twelve Months		More Than  Twelve Months		Less Than  Twelve Months		More Than  Twelve Months
Corporate debt securities	$	70	$	9	$	235	$	44
Asset-backed securities	3		—		7		7
Municipal securities	—		—		3		—
Total	$	73	$	9	$	245	$	51

Cost and Estimated Fair Value of Debt Securities

The following table summarizes the cost and estimated fair value of short-term fixed income securities classified as short-term investments based on stated effective maturities as of February 28, 2020:

(in millions)	Amortized Cost		Estimated Fair Value
Due within one year	$	922	$	925
Due between one and two years	364		367
Due between two and three years	188		191
Total	$	1,474	$	1,483