Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Notes)

v3.10.0.1
Fair Value Measurements (Notes)
 3 Months Ended
Dec. 30, 2018
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 December 30, 2018 (in millions):
 
Level 1
 
Level 2
 
Level 3
 
Total
Assets
 
 
 
 
 
 
 
Cash equivalents
$
5,336

 
$
2,992

 
$
—

 
$
8,328

Marketable securities:
 
 
 
 
 
 
 
Corporate bonds and notes
—

 
108

 
—

 
108

Auction rate securities
—

 
—

 
35

 
35

Equity securities
141

 
—

 
—

 
141

Total marketable securities
141

 
108

 
35

 
284

Derivative instruments
—

 
6

 
—

 
6

Other investments
364

 
—

 
6

 
370

Total assets measured at fair value
$
5,841

 
$
3,106

 
$
41

 
$
8,988

Liabilities
 
 
 
 
 
 
 
Derivative instruments
$
—

 
$
33

 
$
—

 
$
33

Other liabilities
364

 
—

 
85

 
449

Total liabilities measured at fair value
$
364

 
$
33

 
$
85

 
$
482


Activity between Levels of the Fair Value Hierarchy. There were no transfers of marketable securities into or out of Level 3 during the three months ended December 30, 2018 and December 24, 2017. Other investments and other liabilities included in Level 3 at December 30, 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 three months ended December 30, 2018 and December 24, 2017.
Assets Measured and Recorded at Fair Value on a Nonrecurring Basis. We measure certain assets and liabilities at fair value on a nonrecurring basis. These assets and liabilities include equity method investments when they are deemed to be other-than-temporarily impaired, non-marketable equity securities if there is an observable price adjustment or impairment, assets acquired, and liabilities assumed in an acquisition or nonmonetary exchange and property, plant and equipment and intangible assets that are written down to fair value when they are held for sale or determined to be impaired. If an observable price adjustment or impairment is recognized on our non-marketable equity securities during the period, we classify these fair value measurements as Level 3 based on the nature of the inputs. During the first quarter of fiscal 2019, goodwill related to a nonreportable segment that we agreed to sell was written down to its estimated fair value (Note 8). 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 three months ended December 30, 2018 and December 24, 2017, we did not have any other significant assets or liabilities that were measured at fair value on a nonrecurring basis.