Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Notes)

v3.19.3.a.u2
Fair Value Measurements (Notes)
3 Months Ended
Dec. 29, 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 December 29, 2019 (in millions):
 
Level 1
 
Level 2
 
Level 3
 
Total
Assets
 
 
 
 
 
 
 
Cash equivalents
$
6,101

 
$
3,658

 
$

 
$
9,759

Marketable securities:
 
 
 
 
 
 
 
Auction rate securities

 

 
35

 
35

Equity securities
315

 

 

 
315

Total marketable securities
315

 

 
35

 
350

Derivative instruments

 
24

 

 
24

Other investments
474

 

 
98

 
572

Total assets measured at fair value
$
6,890

 
$
3,682

 
$
133

 
$
10,705

Liabilities
 
 
 
 
 
 
 
Derivative instruments
$

 
$
2

 
$

 
$
2

Other liabilities
475

 

 
40

 
515

Total liabilities measured at fair value
$
475

 
$
2

 
$
40

 
$
517


Activity within Level 3 of the Fair Value Hierarchy. Other investments and other liabilities included in Level 3 at December 29, 2019 were comprised of debt instruments issued by private companies and contingent consideration related to business combinations, respectively. Activity for marketable securities, other investments and other liabilities classified within Level 3 of the valuation hierarchy was insignificant during the three months ended December 29, 2019, which was primarily related to purchases of convertible debt instruments issued by private companies, and the three months ended December 30, 2018, which was primarily related to settlements of convertible debt instruments by private companies.
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 and non-marketable equity investments, assets acquired and liabilities assumed in an acquisition or in a 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. During the three months ended December 29, 2019, certain non-marketable securities were written down to their estimated fair values, which was recorded as a component of impairment losses on other investments in investment and other income, net (Note 2). During the three months ended December 30, 2018, goodwill related to a nonreportable segment that we agreed to sell was written down to its estimated fair value and recorded as a component of restructuring and restructuring-related charges within other expenses. 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 29, 2019 and December 30, 2018, we did not have any other significant assets or liabilities that were measured at fair value on a nonrecurring basis.
Long-term Debt. At December 29, 2019 and September 29, 2019, the aggregate fair value of our remaining outstanding principal floating- and fixed-rate notes, based on Level 2 inputs, was approximately $16.6 billion and $16.5 billion, respectively.