Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements and Marketable Securities

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Fair Value Measurements and Marketable Securities
 3 Months Ended
Dec. 24, 2023
Fair Value Measurements [Abstract]  
Fair Value Measurements and Marketable Securities 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 December 24, 2023 (in millions):
Level 1 Level 2 Level 3 Total
Assets        
Cash equivalents $ 4,979  $ 1,796  $ —  $ 6,775 
Marketable securities:        
Corporate bonds and notes —  3,220  —  3,220 
U.S. Treasury securities and government-related securities 220  65  —  285 
Mortgage- and asset-backed securities —  280  —  280 
Equity securities 136  —  —  136 
Total marketable securities 356  3,565  —  3,921 
Derivative instruments —  30  —  30 
Other investments 815  —  51  866 
Total assets measured at fair value $ 6,150  $ 5,391  $ 51  $ 11,592 
Liabilities        
Derivative instruments $ —  $ 205  $ —  $ 205 
Other liabilities 813  —  —  813 
Total liabilities measured at fair value $ 813  $ 205  $ —  $ 1,018 
Long-term Debt. At December 24, 2023, the aggregate fair value of our outstanding fixed-rate notes, based on Level 2 inputs, was approximately $15.1 billion.
Marketable Securities. At December 24, 2023 and September 24, 2023, 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):
December 24,
2023
Years to Maturity
Less than one year $ 1,820 
One to five years 1,678 
Five to ten years 7 
No single maturity date 280 
Total $ 3,785 
Debt securities with no single maturity date included mortgage- and asset-backed securities.