Fair Value Measurements (Tables)

9 Months Ended

Sep. 03, 2021

Fair Value Disclosures [Abstract]

Financial assets and liabilities at fair value on a recurring basis

The fair value of our financial assets and liabilities at September 3, 2021 was determined using the following inputs:

(in millions)	Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash equivalents:
Corporate debt securities	$	16	$	—	$	16	$	—
Money market funds	3,739		3,739		—		—
Time deposits	150		150		—		—
U.S. Treasury securities	2		—		2		—
Short-term investments:
Asset-backed securities	120		—		120		—
Corporate debt securities	1,400		—		1,400		—
Municipal securities	21		—		21		—
Prepaid expenses and other current assets:
Foreign currency derivatives	48		—		48		—
Other assets:
Deferred compensation plan assets	152		5		147		—
Total assets	$	5,648	$	3,894	$	1,754	$	—

Liabilities:
Accrued expenses:
Foreign currency derivatives	$	5	$	—	$	5	$	—

The fair value of our financial assets and liabilities at November 27, 2020 was determined using the following inputs:

(in millions)	Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash equivalents:
Corporate debt securities	$	28	$	—	$	28	$	—
Money market funds	3,483		3,483		—		—
Time deposits	118		118		—		—
Short-term investments:
Asset-backed securities	106		—		106		—
Corporate debt securities	1,386		—		1,386		—
Foreign government securities	3		—		3		—
Municipal securities	19		—		19		—
Prepaid expenses and other current assets:
Foreign currency derivatives	15		—		15		—
Other assets:
Deferred compensation plan assets	116		7		109		—
Total assets	$	5,274	$	3,608	$	1,666	$	—

Liabilities:
Accrued expenses:
Foreign currency derivatives	$	4	$	—	$	4	$	—