Fair Value Measurements

6 Months Ended

Mar. 26, 2023

Fair Value Measurements [Abstract]

Fair Value Measurements

Fair Value Measurements and Marketable Securities

The following table presents our fair value hierarchy for assets and liabilities measured at fair value on a recurring basis at March 26, 2023 (in millions):

	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents	$	1,779	$	367	$	—	$	2,146
Marketable securities:
Corporate bonds and notes	—		2,943		—		2,943
Equity securities	145		—		—		145
Mortgage- and asset-backed securities	—		84		—		84
U.S. Treasury securities and government-related securities	—		16		—		16
Total marketable securities	145		3,043		—		3,188
Derivative instruments	—		37		—		37
Other investments	731		—		20		751
Total assets measured at fair value	$	2,655	$	3,447	$	20	$	6,122
Liabilities
Derivative instruments	$	—	$	210	$	—	$	210
Other liabilities	730		—		—		730
Total liabilities measured at fair value	$	730	$	210	$	—	$	940

At March 26, 2023 and September 25, 2022, our marketable securities were all classified as current and were primarily comprised of available-for-sale debt securities (substantially all of which were corporate bonds and notes).

The contractual maturities of available-for-sale debt securities were as follows (in millions):

	March 26, 2023
Years to Maturity
Less than one year	$	1,463
One to five years	1,496
No single maturity date	84
Total	$	3,043

Debt securities with no single maturity date included mortgage- and asset-backed securities.