v3.19.3.a.u2
Fair Value of Financial Assets and Liabilities
 12 Months Ended
Jan. 26, 2020
Fair Value Disclosures [Abstract]  
Fair Value of Financial Assets and Liabilities Fair Value of Financial Assets and Liabilities
The fair values of our financial assets and liabilities are determined using quoted market prices of identical assets or quoted market prices of similar assets from active markets. We review fair value hierarchy classification on a quarterly basis. There were no significant transfers between Levels 1 and 2 financial assets and liabilities for fiscal year 2020. Level 3 financial assets and liabilities are based on unobservable inputs to the valuation methodology and include our own data about assumptions market participants would use in pricing the asset or liability based on the best information available under the circumstances.
 
 
Fair Value at
 
Pricing Category
 
January 26, 2020
 
January 27, 2019
 
 
 
(In millions)
Assets
 
 
 
 
 
Cash equivalents and marketable securities:
 
 
 
 
 
Money market funds
Level 1
 
$
7,507

 
$
483

Debt securities issued by the United States Treasury
Level 2
 
$
1,358

 
$
1,492

Debt securities issued by United States government agencies
Level 2
 
$
1,096

 
$
2,280

Corporate debt securities
Level 2
 
$
592

 
$
2,620

Foreign government bonds
Level 2
 
$
200

 
$
209

Certificates of Deposit
Level 2
 
$
27

 
$
—

Asset-backed securities
Level 2
 
$
1

 
$
151

Mortgage-backed securities issued by United States government-sponsored enterprises
Level 2
 
$
—

 
$
89

 
 
 
 
 
 
Liabilities
 
 
 
 
 
Other noncurrent liabilities:
 
 
 
 
 
3.20% Notes Due 2026 (1)
Level 2
 
$
1,065

 
$
961

2.20% Notes Due 2021 (1)
Level 2
 
$
1,006

 
$
978

 
 
 
 
 
 

(1)
These liabilities are carried on our Consolidated Balance Sheets at their original issuance value, net of unamortized debt discount and issuance costs, and are not marked to fair value each period. Refer to Note 12 of these Notes to the Consolidated Financial Statements for additional information.