Fair Value Measurements and Marketable Securities

3 Months Ended

Dec. 29, 2024

Fair Value Measurements [Abstract]

Fair Value Measurements and Marketable Securities

Note 7. 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 December 29, 2024 (in millions):

	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents	$	4,111	$	363	$	—	$	4,474
Marketable securities:
Corporate bonds and notes	—		4,727		—		4,727
Mortgage- and asset-backed securities	—		457		—		457
U.S. Treasury securities and government-related securities	245		72		—		317
Equity securities	91		—		—		91
Total marketable securities	336		5,256		—		5,592
Derivative instruments	—		5		—		5
Other investments (1)	1,012		—		41		1,053
Total assets measured at fair value	$	5,459	$	5,624	$	41	$	11,124
Liabilities
Derivative instruments	$	—	$	244	$	—	$	244
Other liabilities (1)	1,008		—		—		1,008
Total liabilities measured at fair value	$	1,008	$	244	$	—	$	1,252

(1) Other investments and other liabilities included in Level 1 are comprised of our deferred compensation plan assets and liabilities.

Long-term Debt. At December 29, 2024, the aggregate fair value of our outstanding fixed-rate notes, based on Level 2 inputs, was approximately $13.6 billion.

Marketable Securities. At December 29, 2024 and September 29, 2024, 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):

	December 29, 2024
Years to Maturity
Less than one year	$	1,477
One to five years	3,567
No single maturity date	457
Total	$	5,501

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