Fair Value Measurements

12 Months Ended

Sep. 24, 2023

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [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 September 24, 2023 (in millions):

	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	5,335	$	1,819	$	—	$	7,154
Marketable securities:
Corporate bonds and notes	$	—	$	2,590	$	—	$	2,590
Mortgage- and asset-backed securities	—		123		—		123
Equity securities	121		—		—		121
U.S. Treasury securities and government-related securities	20		20		—		40
Total marketable securities	141		2,733		—		2,874
Derivative instruments	—		32		—		32
Other investments	742		—		43		785
Total assets measured at fair value	$	6,218	$	4,584	$	43	$	10,845
Liabilities:
Derivative instruments	$	—	$	317	$	—	$	317
Other liabilities	740		—		—		740
Total liabilities measured at fair value	$	740	$	317	$	—	$	1,057

At September 24, 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):

	September 24, 2023
Years to Maturity:
Less than one year	$	1,321
One to five years	1,306
Five to ten years	3
No single maturity date	123
Total	$	2,753

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