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
 6 Months Ended
Mar. 24, 2024
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 March 24, 2024 (in millions):
Level 1 Level 2 Level 3 Total
Assets        
Cash equivalents $ 6,197  $ 1,813  $ —  $ 8,010 
Marketable securities:        
Corporate bonds and notes —  3,844  —  3,844 
U.S. Treasury securities and government-related securities 217  39  —  256 
Mortgage- and asset-backed securities —  402  —  402 
Equity securities 130  —  —  130 
Total marketable securities 347  4,285  —  4,632 
Derivative instruments —  27  —  27 
Other investments 889  —  33  922 
Total assets measured at fair value $ 7,433  $ 6,125  $ 33  $ 13,591 
Liabilities        
Derivative instruments $ —  $ 243  $ —  $ 243 
Other liabilities 886  —  —  886 
Total liabilities measured at fair value $ 886  $ 243  $ —  $ 1,129 
Long-term Debt. At March 24, 2024, the aggregate fair value of our outstanding fixed-rate notes, based on Level 2 inputs, was approximately $14.8 billion.
Marketable Securities. At March 24, 2024 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):
March 24,
2024
Years to Maturity
Less than one year $ 1,728 
One to five years 2,367 
Five to ten years 5 
No single maturity date 402 
Total $ 4,502 
Debt securities with no single maturity date included mortgage- and asset-backed securities.