Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Notes)

v3.19.2
Fair Value Measurements (Notes)
 9 Months Ended
Jun. 30, 2019
Fair Value Measurements [Abstract]  
Fair Value Measurements Fair Value Measurements
The following table presents our fair value hierarchy for assets and liabilities measured at fair value on a recurring basis at June 30, 2019 (in millions):
 
Level 1
 
Level 2
 
Level 3
 
Total
Assets
 
 
 
 
 
 
 
Cash equivalents
$
8,135

 
$
4,000

 
$
—

 
$
12,135

Marketable securities:
 
 
 
 
 
 
 
Corporate bonds and notes
—

 
19

 
—

 
19

Auction rate securities
—

 
—

 
35

 
35

Equity securities
417

 
—

 
—

 
417

Total marketable securities
417

 
19

 
35

 
471

Derivative instruments
—

 
19

 
—

 
19

Other investments
415

 
—

 
64

 
479

Total assets measured at fair value
$
8,967

 
$
4,038

 
$
99

 
$
13,104

Liabilities
 
 
 
 
 
 
 
Derivative instruments
$
—

 
$
4

 
$
—

 
$
4

Other liabilities
415

 
—

 
41

 
456

Total liabilities measured at fair value
$
415

 
$
4

 
$
41

 
$
460


Activity between Levels of the Fair Value Hierarchy. There were no transfers of marketable securities into or out of Level 3 during the nine months ended June 30, 2019 and June 24, 2018. Other investments and other liabilities included in
Level 3 at June 30, 2019 were comprised of debt instruments issued by private companies and contingent consideration related to business combinations, respectively. There were no transfers of debt instruments or contingent consideration amounts into or out of Level 3 during the nine months ended June 30, 2019 and June 24, 2018.
Assets Measured and Recorded at Fair Value on a Nonrecurring Basis. During the nine months ended June 30, 2019, certain intangible assets and goodwill were written down to their estimated fair values (Note 8). We also measured certain non-marketable equity securities received as non-cash consideration at fair value on a nonrecurring basis (Note 2). The estimation of fair value required the use of significant unobservable inputs, and as a result, the fair value measurements were classified as Level 3. During the nine months ended June 30, 2019 and June 24, 2018, we did not have any other significant assets or liabilities that were measured at fair value on a nonrecurring basis.