CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Feb. 27, 2026	Feb. 28, 2025
Revenue:
Total revenue	$ 6,398	$ 5,714
Cost of revenue:
Total cost of revenue	664	622
Gross profit	5,734	5,092
Operating expenses:
Research and development	1,110	1,026
Sales and marketing	1,708	1,495
General and administrative	463	367
Amortization of intangibles	35	41
Total operating expenses	3,316	2,929
Operating income	2,418	2,163
Non-operating income (expense):
Interest expense	(63)	(62)
Investment gains (losses), net	5	6
Other income (expense), net	62	75
Total non-operating income (expense), net	4	19
Income before income taxes	2,422	2,182
Provision for income taxes	533	371
Net income	$ 1,889	$ 1,811
Basic net income per share (in usd per share)	$ 4.60	$ 4.15
Shares used to compute basic net income per share (in shares)	410.2	436.2
Diluted net income per share (in usd per share)	$ 4.60	$ 4.14
Shares used to compute diluted net income per share (in shares)	410.8	437.6
Subscription
Revenue:
Total revenue	$ 6,198	$ 5,483
Cost of revenue:
Total cost of revenue	540	490
Product
Revenue:
Total revenue	90	95
Cost of revenue:
Total cost of revenue	6	6
Services and other
Revenue:
Total revenue	110	136
Cost of revenue:
Total cost of revenue	$ 118	$ 126

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Feb. 27, 2026	Feb. 28, 2025
Cash flows from operating activities:
Net income	$ 1,889	$ 1,811
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion	174	217
Stock-based compensation	509	475
Deferred income taxes	64	(169)
Other non-cash items	46	17
Changes in operating assets and liabilities, net of acquired assets and assumed liabilities:
Trade receivables, net	252	97
Prepaid expenses and other assets	(240)	(156)
Trade payables	3	(28)
Accrued expenses and other liabilities	(450)	(378)
Income taxes payable	371	365
Deferred revenue	340	231
Net cash provided by operating activities	2,958	2,482
Cash flows from investing activities:
Purchases of short-term investments	(306)	(533)
Proceeds from maturities and sales of short-term investments	920	132
Purchases of property and equipment	(37)	(26)
Purchases of long-term investments, intangibles and other assets	(104)	(59)
Other investing activities, net	1	2
Net cash provided by (used for) investing activities	474	(484)
Cash flows from financing activities:
Repurchases of common stock	(2,478)	(3,250)
Proceeds from re-issuance of treasury stock	84	96
Taxes paid related to net share settlement of equity awards	(123)	(159)
Proceeds from issuance of debt	0	1,997
Repayment of debt	0	(1,500)
Other financing activities, net	(27)	(25)
Net cash used for financing activities	(2,544)	(2,841)
Effect of foreign currency exchange rates on cash and cash equivalents	13	(12)
Net change in cash and cash equivalents	901	(855)
Cash and cash equivalents at beginning of period	5,431	7,613
Cash and cash equivalents at end of period	6,332	6,758
Supplemental disclosures:
Cash paid for income taxes, net of refunds	125	182
Cash paid for interest	$ 79	$ 48

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

Feb. 27, 2026

Nov. 28, 2025

^[1]

Current assets:

Cash and cash equivalents

$ 6,332

$ 5,431

Short-term investments

558

1,164

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

2,092

2,344

Prepaid expenses and other current assets

1,404

1,224

Total current assets

10,386

10,163

Property and equipment, net

1,852

1,873

Operating lease right-of-use assets, net

305

312

Goodwill

12,869

12,857

Other intangibles, net

454

495

Deferred income taxes

2,138

2,186

Other assets

1,700

1,610

Total assets

29,704

29,496

Current liabilities:

Trade payables

419

417

Accrued expenses and other current liabilities

2,257

2,648

Debt

849

Deferred revenue

7,275

6,905

Income taxes payable

506

153

Operating lease liabilities

Total current liabilities

11,390

10,200

Long-term liabilities:

Debt

5,379

6,210

Deferred revenue

125

Income taxes payable

487

469

Operating lease liabilities

344

361

Other liabilities

576

508

Total liabilities

18,271

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; 406 and 413 shares outstanding, respectively

Additional paid-in capital

15,870

15,361

Retained earnings

47,170

45,354

Accumulated other comprehensive income (loss)

(295)

(245)

Treasury stock, at cost (195 and 188 shares, respectively)

(51,312)

(48,847)

Total stockholders’ equity

11,433

11,623

Total liabilities and stockholders’ equity

$ 29,704

$ 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.