Fair Value Measurements

12 Months Ended

Sep. 28, 2025

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 28, 2025 (in millions):

	Level 1		Level 2		Total
Assets:
Cash equivalents	$	2,890	$	437	$	3,327
Marketable securities:
Corporate bonds and notes	$	—	$	3,309	$	3,309
Mortgage- and asset-backed securities	—		802		802
U.S. Treasury securities and government-related securities	110		62		172
Equity securities	352		—		352
Total marketable securities	462		4,173		4,635
Derivative instruments	—		59		59
Other investments (1)	1,099		—		1,099
Total assets measured at fair value	$	4,451	$	4,669	$	9,120
Liabilities:
Derivative instruments	$	—	$	163	$	163
Other liabilities (1)	1,095		—		1,095
Total liabilities measured at fair value	$	1,095	$	163	$	1,258

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

At September 28, 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):

	September 28, 2025
Years to Maturity:
Less than one year	$	1,041
One to five years	2,431
Five to ten years	9
No single maturity date	802
Total	$	4,283

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