
	Oct 27, 2024
	Amortized Cost		Unrealized Gain		Unrealized Loss		Estimated Fair Value		Reported as
									Cash Equivalents		Marketable Securities

	(In millions)
Debt securities issued by the U.S. Treasury	$	14,629	$	72	$	(12)	$	14,689	$	1,795	$	12,894
Corporate debt securities	14,221		74		(17)		14,278		1,154		13,124
Money market funds	5,147		—		—		5,147		5,147		—
Debt securities issued by U.S. government agencies	3,542		11		(4)		3,549		759		2,790
Certificates of deposit	142		—		—		142		42		100



Total debt securities with fair value adjustments recorded in other comprehensive income	37,681		157		(33)		37,805		8,897		28,908
Publicly-held equity securities (1)							472		—		472
Total	$	37,681	$	157	$	(33)	$	38,277	$	8,897	$	29,380

(1) Fair value adjustments on publicly-held equity securities are recorded in net income. Beginning in the second quarter of fiscal year 2025, publicly-held equity securities from investments in non-affiliated entities were classified in marketable securities on our Condensed Consolidated Balance Sheets.

Net unrealized gains on investments in publicly-held equity securities were not significant and $195 million for the third quarter and first nine months of fiscal year 2025, respectively. Net unrealized gains on investments in publicly-held equity securities were not significant for the third quarter and first nine months of fiscal year 2024.


	Jan 28, 2024
	Amortized Cost		Unrealized Gain		Unrealized Loss		Estimated Fair Value		Reported as
									Cash Equivalents		Marketable Securities

	(In millions)
Corporate debt securities	$	10,126	$	31	$	(5)	$	10,152	$	2,231	$	7,921
Debt securities issued by the U.S. Treasury	9,517		17		(10)		9,524		1,315		8,209
Money market funds	3,031		—		—		3,031		3,031		—
Debt securities issued by U.S. government agencies	2,326		8		(1)		2,333		89		2,244
Certificates of deposit	510		—		—		510		294		216
Foreign government bonds	174		—		—		174		60		114


Total debt securities with fair value changes recorded in other comprehensive income	$	25,684	$	56	$	(16)	$	25,724	$	7,020	$	18,704

The following tables provide the breakdown of unrealized losses, aggregated by investment category and length of time that individual debt securities have been in a continuous loss position:


	Oct 27, 2024
	Less than 12 Months				12 Months or Greater				Total
	Estimated Fair Value		Gross Unrealized Loss		Estimated Fair Value		Gross Unrealized Loss		Estimated Fair Value		Gross Unrealized Loss

	(In millions)
Corporate debt securities	$	2,967	$	(17)	$	105	$	—	$	3,072	$	(17)
Debt securities issued by the U.S. Treasury	2,562		(12)		532		—		3,094		(12)
Debt securities issued by U.S. government agencies	1,134		(4)		21		—		1,155		(4)
Total	$	6,663	$	(33)	$	658	$	—	$	7,321	$	(33)


	Jan 28, 2024
	Less than 12 Months				12 Months or Greater				Total
	Estimated Fair Value		Gross Unrealized Loss		Estimated Fair Value		Gross Unrealized Loss		Estimated Fair Value		Gross Unrealized Loss

	(In millions)
Debt securities issued by the U.S. Treasury	$	3,343	$	(5)	$	1,078	$	(5)	$	4,421	$	(10)
Corporate debt securities	1,306		(3)		618		(2)		1,924		(5)
Debt securities issued by U.S. government agencies	670		(1)		—		—		670		(1)
Total	$	5,319	$	(9)	$	1,696	$	(7)	$	7,015	$	(16)

The amortized cost and estimated fair value of debt securities included in cash equivalents and marketable securities are shown below by contractual maturity.


	Oct 27, 2024				Jan 28, 2024
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value

	(In millions)
Less than one year	$	17,695	$	17,715	$	16,336	$	16,329
Due in 1 - 5 years	19,986		20,090		9,348		9,395

Total	$	37,681	$	37,805	$	25,684	$	25,724