Fair Value Measurements and Marketable Securities

6 Months Ended

Mar. 29, 2026

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 March 29, 2026 (in millions):

	Level 1		Level 2		Total
Assets
Cash equivalents	$	1,014	$	515	$	1,529
Marketable securities:
Corporate bonds and notes	—		3,266		3,266
Mortgage- and asset-backed securities	—		863		863
U.S. Treasury securities and government-related securities	58		37		95
Equity securities	140		—		140
Total marketable securities	198		4,166		4,364
Derivative instruments	—		36		36
Other investments (1)	1,138		—		1,138
Total assets measured at fair value	$	2,350	$	4,717	$	7,067
Liabilities
Derivative instruments	$	—	$	295	$	295
Other liabilities (1)	1,134		—		1,134
Total liabilities measured at fair value	$	1,134	$	295	$	1,429

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

Long-term Debt. At March 29, 2026, the aggregate fair value of our outstanding fixed-rate notes, based on Level 2 inputs, was approximately $13.7 billion.

Marketable Securities. At March 29, 2026 and September 28, 2025, 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):

	March 29, 2026
Years to maturity
Less than one year	$	870
One to five years	2,489
Five to ten years	2
No single maturity date	863
Total	$	4,224

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