Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements

v3.23.1
Fair Value Measurements
 6 Months Ended
Mar. 26, 2023
Fair Value Measurements [Abstract]  
Fair Value Measurements 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 26, 2023 (in millions):
Level 1 Level 2 Level 3 Total
Assets        
Cash equivalents $ 1,779  $ 367  $ —  $ 2,146 
Marketable securities:        
Corporate bonds and notes —  2,943  —  2,943 
Equity securities 145  —  —  145 
Mortgage- and asset-backed securities —  84  —  84 
U.S. Treasury securities and government-related securities —  16  —  16 
Total marketable securities 145  3,043  —  3,188 
Derivative instruments —  37  —  37 
Other investments 731  —  20  751 
Total assets measured at fair value $ 2,655  $ 3,447  $ 20  $ 6,122 
Liabilities        
Derivative instruments $ —  $ 210  $ —  $ 210 
Other liabilities 730  —  —  730 
Total liabilities measured at fair value $ 730  $ 210  $ —  $ 940 
At March 26, 2023 and September 25, 2022, our marketable securities were all classified as current and were primarily comprised of available-for-sale debt securities (substantially all of which were corporate bonds and notes).
The contractual maturities of available-for-sale debt securities were as follows (in millions):
March 26,
2023
Years to Maturity
Less than one year $ 1,463 
One to five years 1,496 
No single maturity date 84 
Total $ 3,043 
Debt securities with no single maturity date included mortgage- and asset-backed securities.