v3.26.1
Fair Value Measurements and Marketable Securities
 9 Months Ended
Jun. 28, 2026
Fair Value Measurements [Abstract]  
Fair Value Measurements and Marketable Securities
Note 7. 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 June 28, 2026 (in millions):
Level 1Level 2Total
Assets   
Cash equivalents$1,529 $299 $1,828 
Marketable securities:   
Corporate bonds and notes— 2,249 2,249 
Mortgage- and asset-backed securities— 557 557 
U.S. Treasury securities and government-related securities32 7 39 
Equity securities (1)926 — 926 
Total marketable securities958 2,813 3,771 
Derivative instruments— 54 54 
Other investments (2)1,293 — 1,293 
Total assets measured at fair value$3,780 $3,166 $6,946 
Liabilities   
Derivative instruments$— $251 $251 
Other liabilities (2)1,289 — 1,289 
Total liabilities measured at fair value$1,289 $251 $1,540 
(1) Primarily consists of equity securities in certain QSI investees that have completed initial public offerings, which remain subject to short-term lock-up restrictions on the ability to sell.
(2) Other investments and other liabilities included in Level 1 are comprised of our deferred compensation plan assets and liabilities.
Long-term Debt. At June 28, 2026, the aggregate fair value of our outstanding fixed-rate notes, based on Level 2 inputs, was approximately $14.0 billion.
Marketable Securities. At June 28, 2026 and September 28, 2025, our marketable securities were all classified as current and were primarily comprised of available-for-sale debt securities (the vast majority of which were corporate bonds and notes).
The contractual maturities of available-for-sale debt securities were as follows (in millions):
June 28,
2026
Years to maturity
Less than one year$616 
One to five years1,670 
Five to ten years2 
No single maturity date557 
Total$2,845 
Debt securities with no single maturity date included mortgage- and asset-backed securities.