CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Aug. 28, 2026	Aug. 29, 2025	Aug. 28, 2026	Aug. 29, 2025
Revenue:
Total revenue	$ 6,760	$ 5,988	$ 19,776	$ 17,575
Cost of revenue:
Total cost of revenue	763	642	2,142	1,902
Gross profit	5,997	5,346	17,634	15,673
Operating expenses:
Research and development	1,288	1,088	3,596	3,196
Sales and marketing	1,827	1,639	5,419	4,760
General and administrative	488	408	1,497	1,152
Amortization of intangibles	40	38	112	120
Total operating expenses	3,643	3,173	10,624	9,228
Operating income	2,354	2,173	7,010	6,445
Non-operating income (expense):
Interest expense	(66)	(67)	(194)	(197)
Investment gains (losses), net	21	23	44	31
Other income (expense), net	48	58	157	191
Total non-operating income (expense), net	3	14	7	25
Income before income taxes	2,357	2,187	7,017	6,470
Provision for income taxes	530	415	1,589	1,196
Net income	$ 1,827	$ 1,772	$ 5,428	$ 5,274
Basic net income per share (in usd per share)	$ 4.63	$ 4.18	$ 13.48	$ 12.28
Shares used to compute basic net income per share (in shares)	395.0	423.5	402.5	429.3
Diluted net income per share (in usd per share)	$ 4.62	$ 4.18	$ 13.47	$ 12.26
Shares used to compute diluted net income per share (in shares)	395.5	424.1	402.9	430.2
Subscription
Revenue:
Total revenue	$ 6,582	$ 5,791	$ 19,196	$ 16,915
Cost of revenue:
Total cost of revenue	633	510	1,759	1,505
Product
Revenue:
Total revenue	67	68	246	251
Cost of revenue:
Total cost of revenue	5	5	16	17
Services and other
Revenue:
Total revenue	111	129	334	409
Cost of revenue:
Total cost of revenue	$ 125	$ 127	$ 367	$ 380

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Aug. 28, 2026	Aug. 29, 2025
Cash flows from operating activities:
Net income	$ 5,428	$ 5,274
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion	582	634
Stock-based compensation	1,582	1,453
Deferred income taxes	164	(391)
Impairment of goodwill	70	0
Other non-cash items	94	37
Changes in operating assets and liabilities, net of acquired assets and assumed liabilities:
Trade receivables, net	278	(25)
Prepaid expenses and other assets	(497)	(157)
Trade payables	67	(23)
Accrued expenses and other liabilities	(196)	(195)
Income taxes payable	3	(11)
Deferred revenue	71	275
Net cash provided by operating activities	7,646	6,871
Cash flows from investing activities:
Purchases of short-term investments	(1,625)	(1,351)
Maturities of short-term investments	1,530	681
Proceeds from sales of short-term investments	5	4
Acquisitions, net of cash acquired	(1,560)	(17)
Purchases of property and equipment	(180)	(145)
Purchases of long-term investments, intangibles and other assets	(80)	(216)
Other investing activities, net	2	3
Net cash used for investing activities	(1,908)	(1,041)
Cash flows from financing activities:
Repurchases of common stock	(6,821)	(8,807)
Proceeds from re-issuance of treasury stock	262	348
Taxes paid related to net share settlement of equity awards	(306)	(381)
Proceeds from issuance of debt	493	1,997
Repayment of debt	(250)	(1,500)
Other financing activities, net	(192)	(162)
Net cash used for financing activities	(6,814)	(8,505)
Effect of foreign currency exchange rates on cash and cash equivalents	4	44
Net change in cash and cash equivalents	(1,072)	(2,631)
Cash and cash equivalents at beginning of period	5,431	7,613
Cash and cash equivalents at end of period	4,359	4,982
Supplemental disclosures:
Cash paid for income taxes, net of refunds	1,529	1,705
Cash paid for interest	$ 197	$ 196

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions

Aug. 28, 2026

Nov. 28, 2025

^[1]

Current assets:

Cash and cash equivalents

$ 4,359

$ 5,431

Short-term investments

1,280

1,164

Trade receivables, net of allowances for doubtful accounts of $12 and $13, respectively

2,081

2,344

Prepaid expenses and other current assets

1,438

1,224

Total current assets

9,158

10,163

Property and equipment, net

1,870

1,873

Operating lease right-of-use assets, net

286

312

Goodwill

14,037

12,857

Other intangibles, net

956

495

Deferred income taxes

1,928

2,186

Other assets

1,746

1,610

Total assets

29,981

29,496

Current liabilities:

Trade payables

529

417

Accrued expenses and other current liabilities

2,516

2,648

Debt

1,597

Deferred revenue

7,094

6,905

Income taxes payable

153

Operating lease liabilities

Total current liabilities

11,888

10,200

Long-term liabilities:

Debt

4,766

6,210

Deferred revenue

110

125

Income taxes payable

567

469

Operating lease liabilities

310

361

Other liabilities

576

508

Total liabilities

18,217

17,873

Stockholders’ equity:

Preferred stock, $0.0001 par value; 2 shares authorized; none issued

Common stock, $0.0001 par value; 900 shares authorized; 601 shares issued; 391 and 413 shares outstanding, respectively

Additional paid-in capital

16,992

15,361

Retained earnings

50,594

45,354

Accumulated other comprehensive income (loss)

(203)

(245)

Treasury stock, at cost (210 and 188 shares, respectively)

(55,619)

(48,847)

Total stockholders’ equity

11,764

11,623

Total liabilities and stockholders’ equity

$ 29,981

$ 29,496

[1]	The condensed consolidated balance sheet as of November 28, 2025 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements.