Fair Value Measurements (Notes)

6 Months Ended

Mar. 25, 2018

Notes to Financial Statements [Abstract]

The following table presents the Company’s fair value hierarchy for assets and liabilities measured at fair value on a recurring basis at March 25, 2018 (in millions):



	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents	$	26,328	$	10,573	$	—	$	36,901
Marketable securities:
U.S. Treasury securities and government-related securities	10		2		—		12
Corporate bonds and notes	—		1,498		—		1,498
Mortgage- and asset-backed and auction rate securities	—		73		35		108
Equity and preferred securities and equity funds	40		—		—		40
Total marketable securities	50		1,573		35		1,658
Derivative instruments	—		7		—		7
Other investments	408		—		13		421
Total assets measured at fair value	$	26,786	$	12,153	$	48	$	38,987
Liabilities
Derivative instruments	$	—	$	65	$	—	$	65
Other liabilities	408		—		194		602
Total liabilities measured at fair value	$	408	$	65	$	194	$	667

Activity between Levels of the Fair Value Hierarchy. There were no transfers between Level 1 and Level 2 in the six months ended March 25, 2018 and March 26, 2017. There were no transfers of marketable securities into or out of Level 3 during the six months ended March 25, 2018 and March 26, 2017. Other investments and other liabilities included in Level 3 at March 25, 2018 were comprised of convertible debt instruments issued by private companies and contingent consideration related to business combinations, respectively. There were no transfers of convertible debt instruments or contingent consideration amounts into or out of Level 3 during the six months ended March 25, 2018 and March 26, 2017.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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