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Cash, Cash Equivalents and Short-Term Investments
 3 Months Ended
Mar. 04, 2022
Cash, Cash Equivalents, and Short-term Investments [Abstract]  
CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
Cash equivalents consist of highly liquid marketable securities with remaining maturities of three months or less at the date of purchase. We classify our investments in marketable debt securities as “available-for-sale.” We carry these investments at fair value, based on quoted market prices or other readily available market information. Unrealized gains and unrealized non-credit-related losses of marketable debt securities are included in accumulated other comprehensive income, net of taxes, in our condensed consolidated balance sheets. Unrealized credit-related losses are recorded to other income (expense), net in our condensed consolidated statements of income with a corresponding allowance for credit-related losses in our condensed consolidated balance sheets. Gains and losses are determined using the specific identification method and recognized when realized in our condensed consolidated statements of income.
Cash, cash equivalents and short-term investments consisted of the following as of March 4, 2022:
(in millions)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Estimated
Fair Value
Current assets:    
Cash$644 $— $— $644 
Cash equivalents:
Corporate debt securities6 — — 6 
Money market funds1,979 — — 1,979 
Time deposits110 — — 110 
Total cash equivalents2,095 — — 2,095 
Total cash and cash equivalents2,739 — — 2,739 
Short-term fixed income securities:
Asset-backed securities130 — (1)129 
Corporate debt securities1,408 1 (11)1,398 
Foreign government securities5 — — 5 
Municipal securities33 — — 33 
U.S. Treasury securities402 — (5)397 
Total short-term investments1,978 1 (17)1,962 
Total cash, cash equivalents and short-term investments$4,717 $1 $(17)$4,701 
Cash, cash equivalents and short-term investments consisted of the following as of December 3, 2021:
(in millions)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Estimated
Fair Value
Current assets:    
Cash$750 $— $— $750 
Cash equivalents:  
Corporate debt securities5 — — 5 
Money market funds2,914 — — 2,914 
Time deposits175 — — 175 
Total cash equivalents3,094 — — 3,094 
Total cash and cash equivalents3,844 — — 3,844 
Short-term fixed income securities: 
Asset-backed securities124 — — 124 
Corporate debt securities1,426 2 (3)1,425 
Municipal securities28 — — 28 
U.S. Treasury securities378 — (1)377 
Total short-term investments1,956 2 (4)1,954 
Total cash, cash equivalents and short-term investments$5,800 $2 $(4)$5,798 

The following table summarizes the estimated fair value of short-term fixed income debt securities classified as short-term investments based on stated effective maturities as of March 4, 2022:
(in millions)Estimated
Fair Value
Due within one year$840 
Due between one and two years678 
Due between two and three years417 
Due after three years27 
Total$1,962 
We review our debt securities classified as short-term investments on a regular basis for impairment. For debt securities in unrealized loss positions, we determine whether any portion of the decline in fair value below the amortized cost basis is due to credit-related factors if we neither intend to sell nor anticipate that it is more likely than not that we will be required to sell prior to recovery of the amortized cost basis. We consider factors such as the extent to which the market value has been less than the cost, any noted failure of the issuer to make scheduled payments, changes to the rating of the security and other relevant credit-related factors in determining whether or not a credit loss exists. During the three months ended March 4, 2022 and March 5, 2021, we did not recognize an allowance for credit-related losses on any of our investments.