Fair Value Measurements and Marketable Securities

9 Months Ended

Jun. 29, 2025

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 June 29, 2025 (in millions):

	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents	$	2,932	$	257	$	—	$	3,189
Marketable securities:
Corporate bonds and notes	—		2,990		—		2,990
Mortgage- and asset-backed securities	—		813		—		813
U.S. Treasury securities and government-related securities	238		183		—		421
Equity securities	339		—		—		339
Total marketable securities	577		3,986		—		4,563
Derivative instruments	—		91		—		91
Other investments (1)	1,052		—		34		1,086
Total assets measured at fair value	$	4,561	$	4,334	$	34	$	8,929
Liabilities
Derivative instruments	$	—	$	139	$	—	$	139
Other liabilities (1)	1,049		—		—		1,049
Total liabilities measured at fair value	$	1,049	$	139	$	—	$	1,188

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

Marketable Securities. At June 29, 2025 and September 29, 2024, our marketable securities were all classified as current and were primarily comprised of available-for-sale debt securities (the vast majority of which were corporate bonds and notes).

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

	June 29, 2025
Years to Maturity
Less than one year	$	1,066
One to five years	2,342
Five to ten years	3
No single maturity date	813
Total	$	4,224

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