Adobe (ADBE) 10-Q 30 Jun 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares shares in Millions	6 Months Ended
	Jun. 04, 2021	Jun. 25, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 4, 2021
Document Transition Report	false
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-03
Entity File Number	0-15175
Entity Central Index Key	0000796343
Entity Registrant Name	ADOBE INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0019522
Entity Address, Address Line One	345 Park Avenue
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95110-2704
City Area Code	408
Local Phone Number	536-6000
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	ADBE
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Amendment Flag	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		476.4

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 04, 2021	Nov. 27, 2020	[1]
Current assets:
Cash and cash equivalents	$ 4,250	$ 4,478
Short-term investments	1,518	1,514
Trade receivables, net of allowances for doubtful accounts of $19 and $21, respectively	1,477	1,398
Prepaid expenses and other current assets	833	756
Total current assets	8,078	8,146
Property and equipment, net	1,573	1,517
Operating lease right-of-use assets, net	458	487
Goodwill	11,859	10,742
Other intangibles, net	1,641	1,359
Deferred income taxes	1,168	1,370
Other assets	805	663
Total assets	25,582	24,284
Current liabilities:
Trade payables	312	306
Accrued expenses	1,538	1,422
Deferred revenue	4,144	3,629
Income taxes payable	55	63
Operating lease liabilities	96	92
Total current liabilities	6,145	5,512
Long-term liabilities:
Debt	4,120	4,117
Deferred revenue	139	130
Income taxes payable	510	529
Deferred income taxes	80	10
Operating lease liabilities	477	499
Other liabilities	259	223
Total liabilities	11,730	11,020
Stockholders' equity:
Preferred stock, $0.0001 par value; 2 shares authorized, none issued	0	0
Common stock, $0.0001 par value; 900 shares authorized; 601 shares issued; 477 and 479 shares outstanding, respectively	0	0
Additional paid-in-capital	7,877	7,357
Retained earnings	21,538	19,611
Accumulated other comprehensive income (loss)	(121)	(158)
Treasury stock, at cost (124 and 122 shares, respectively)	(15,442)	(13,546)
Total stockholders’ equity	13,852	13,264
Total liabilities and stockholders' equity	$ 25,582	$ 24,284
[1]	The condensed consolidated balance sheet as of November 27, 2020 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.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) shares in Millions, $ in Millions	Jun. 04, 2021	Nov. 27, 2020
Stockholders' equity:
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	2	2
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	900	900
Common stock, shares issued	601	601
Common stock, shares outstanding	477	479
Treasury stock, shares	124	122
Allowances for doubtful accounts	$ (19)	$ (21)

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 04, 2021	May 29, 2020	Jun. 04, 2021	May 29, 2020
Revenue:
Subscription	$ 3,520	$ 2,831	$ 7,104	$ 5,563
Product	153	128	308	271
Services and other	162	169	328	385
Total revenue	3,835	3,128	7,740	6,219
Cost of revenue:
Subscription	328	269	652	543
Product	9	9	19	16
Services and other	107	137	220	308
Total cost of revenue	444	415	891	867
Gross profit	3,391	2,713	6,849	5,352
Operating expenses:
Research and development	612	532	1,232	1,064
Sales and marketing	1,073	901	2,122	1,758
General and administrative	256	224	546	495
Amortization of intangibles	44	40	89	82
Total operating expenses	1,985	1,697	3,989	3,399
Operating income	1,406	1,016	2,860	1,953
Non-operating income (expense):
Interest expense	(28)	(28)	(58)	(61)
Investment gains (losses), net	8	0	13	(3)
Other income (expense), net	0	12	4	30
Total non-operating income (expense), net	(20)	(16)	(41)	(34)
Income before income taxes	1,386	1,000	2,819	1,919
Provision for (benefit from) income taxes	270	(100)	442	(136)
Net income	$ 1,116	$ 1,100	$ 2,377	$ 2,055
Basic net income per share	$ 2.34	$ 2.28	$ 4.97	$ 4.26
Shares used to compute basic net income per share	477.8	481.5	478.3	481.9
Diluted net income per share	$ 2.32	$ 2.27	$ 4.93	$ 4.23
Shares used to compute diluted net income per share	480.8	484.8	481.9	486.3

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 04, 2021	May 29, 2020	Jun. 04, 2021		May 29, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 1,116	$ 1,100	$ 2,377		$ 2,055
Available-for-sale securities:
Unrealized gains / losses on available-for-sale securities	0	2	(3)		6
Derivatives designated as hedging instruments:
Unrealized gains / losses on derivative instruments	(15)	1	(10)		2
Reclassification adjustment for realized gains / losses on derivative instruments	12	(2)	24	[1]	(4)
Net increase (decrease) from derivatives designated as hedging instruments	(3)	(1)	14		(2)
Foreign currency translation adjustments	23	(7)	26		(11)
Other comprehensive income (loss), net of taxes	20	(6)	37		(7)
Total comprehensive income, net of taxes	$ 1,136	$ 1,094	$ 2,414		$ 2,048
[1]	Reclassification adjustments for gains / losses on foreign currency hedges are classified in revenue and reclassification adjustments for gains / losses on Treasury lock hedges are classified in interest expense.

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) shares in Millions, $ in Millions	Total		Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Beginning balances at Nov. 29, 2019	$ 10,530		$ 0	$ 6,504	$ 14,829	$ (188)	$ (10,615)
Beginning balances, shares at Nov. 29, 2019			601
Beginning Treasury stock, shares at Nov. 29, 2019							(118)
Net income	2,055				2,055
Other comprehensive income (loss), net of taxes	(7)					(7)
Re-issuance of treasury stock under stock compensation plans	(431)			(56)	(456)		$ 81
Re-issuance of treasury stock under stock compensation plans, shares							2
Repurchases of common stock	$ (1,700)						$ (1,700)
Repurchase of common stock, shares	(5)						(5)
Stock-based compensation	$ 444			444
Value of shares in deferred compensation plan	(10)						$ (10)
Ending balances at May. 29, 2020	10,881		$ 0	6,892	16,428	(195)	$ (12,244)
Ending balances, shares at May. 29, 2020			601
Ending Treasury stock, shares at May. 29, 2020							(121)
Beginning balances at Feb. 28, 2020	10,465		$ 0	6,665	15,390	(189)	$ (11,401)
Beginning balances, shares at Feb. 28, 2020			601
Beginning Treasury stock, shares at Feb. 28, 2020							(118)
Net income	1,100				1,100
Other comprehensive income (loss), net of taxes	(6)					(6)
Re-issuance of treasury stock under stock compensation plans	(53)			0	(62)		$ 9
Re-issuance of treasury stock under stock compensation plans, shares							0
Repurchases of common stock	(850)						$ (850)
Repurchase of common stock, shares							(3)
Stock-based compensation	227			227
Value of shares in deferred compensation plan	(2)						$ (2)
Ending balances at May. 29, 2020	10,881		$ 0	6,892	16,428	(195)	$ (12,244)
Ending balances, shares at May. 29, 2020			601
Ending Treasury stock, shares at May. 29, 2020							(121)
Beginning balances at Nov. 27, 2020	13,264	[1]	$ 0	7,357	19,611	(158)	$ (13,546)
Beginning balances, shares at Nov. 27, 2020			601
Beginning Treasury stock, shares at Nov. 27, 2020							(122)
Net income	2,377				2,377
Other comprehensive income (loss), net of taxes	37					37
Re-issuance of treasury stock under stock compensation plans	(393)			0	(450)		$ 57
Re-issuance of treasury stock under stock compensation plans, shares							2
Repurchases of common stock	$ (1,950)						$ (1,950)
Repurchase of common stock, shares	(3.9)						(4)
Stock-based compensation	$ 520			520
Value of shares in deferred compensation plan	(3)						$ (3)
Ending balances at Jun. 04, 2021	13,852		$ 0	7,877	21,538	(121)	$ (15,442)
Ending balances, shares at Jun. 04, 2021			601
Ending Treasury stock, shares at Jun. 04, 2021							(124)
Beginning balances at Mar. 05, 2021	13,546		$ 0	7,617	20,521	(141)	$ (14,451)
Beginning balances, shares at Mar. 05, 2021			601
Beginning Treasury stock, shares at Mar. 05, 2021							(122)
Net income	1,116				1,116
Other comprehensive income (loss), net of taxes	20					20
Re-issuance of treasury stock under stock compensation plans	(89)			0	(99)		$ 10
Re-issuance of treasury stock under stock compensation plans, shares							0
Repurchases of common stock	(1,000)						$ (1,000)
Repurchase of common stock, shares							(2)
Stock-based compensation	260			260
Value of shares in deferred compensation plan	(1)						$ (1)
Ending balances at Jun. 04, 2021	$ 13,852		$ 0	$ 7,877	$ 21,538	$ (121)	$ (15,442)
Ending balances, shares at Jun. 04, 2021			601
Ending Treasury stock, shares at Jun. 04, 2021							(124)
[1]	The condensed consolidated balance sheet as of November 27, 2020 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.

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 04, 2021		May 29, 2020
Cash flows from operating activities:
Net income	$ 2,377		$ 2,055
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion	390		376
Stock-based compensation	520		444
Reduction of operating lease right-of-use assets	33		42
Deferred income taxes	210		(265)
Unrealized losses (gains) on investments, net	(7)		5
Other non-cash items	5		16
Changes in operating assets and liabilities, net of acquired assets and assumed liabilities:
Trade receivables, net	(39)		155
Prepaid expenses and other assets	(258)		(303)
Trade payables	(1)		80
Accrued expenses and other liabilities	87		(58)
Income taxes payable	(26)		2
Deferred revenue	469		(40)
Net cash provided by operating activities	3,760		2,509
Cash flows from investing activities:
Purchases of short-term investments	(639)		(263)
Maturities of short-term investments	521		417
Proceeds from sales of short-term investments	104		70
Acquisitions, net of cash acquired	(1,470)		0
Purchases of property and equipment	(154)		(190)
Purchases of long-term investments, intangibles and other assets	(27)		(6)
Proceeds from sale of long-term investments and other assets	0		4
Net cash provided by (used for) investing activities	(1,665)		32
Cash flows from financing activities:
Repurchases of common stock	(1,950)		(1,700)
Proceeds from re-issuance of treasury stock	87		89
Taxes paid related to net share settlement of equity awards	(480)		(521)
Proceeds from issuance of debt	0		3,144
Repayment of debt	0		(3,150)
Other financing activities, net	19		4
Net cash used for financing activities	(2,324)		(2,134)
Effect of foreign currency exchange rates on cash and cash equivalents	1		(13)
Net increase (decrease) in cash and cash equivalents	(228)		394
Cash and cash equivalents at beginning of period	4,478	[1]	2,650
Cash and cash equivalents at end of period	4,250		3,044
Supplemental disclosures:
Cash paid for income taxes, net of refunds	277		116
Cash paid for interest	$ 50		$ 38
[1]	The condensed consolidated balance sheet as of November 27, 2020 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.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 04, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Significant Accounting Policies	BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES We have prepared the accompanying unaudited condensed consolidated financial statements pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Pursuant to these rules and regulations, we have condensed or omitted certain information and footnote disclosures we normally include in our annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). In management’s opinion, we have made all adjustments (consisting only of normal, recurring adjustments, except as otherwise indicated) necessary to fairly present our financial position, results of operations and cash flows. Our interim period operating results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. These financial statements and accompanying notes should be read in conjunction with the consolidated financial statements and notes thereto in our Annual Report on Form 10-K for the fiscal year ended November 27, 2020 on file with the SEC (our “Annual Report”). Use of Estimates In preparing the condensed consolidated financial statements and related disclosures in conformity with GAAP and pursuant to the rules and regulations of the SEC, we must make estimates and judgments that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results may differ materially from these estimates. Fiscal Year Our fiscal year is a 52- or 53-week year that ends on the Friday closest to November 30. Our financial results for the six months ended June 4, 2021 benefited from an extra week in the first quarter of fiscal 2021 due to our 52/53 week financial calendar whereby fiscal 2021 is a 53-week year compared with fiscal 2020 which was a 52-week year. Reclassifications In the fourth quarter of fiscal 2020, we moved our Advertising Cloud offerings from our Digital Experience segment into our new Publishing and Advertising segment, which combined our Advertising Cloud offerings with our previous Publishing segment. This realignment is consistent with how we manage our Digital Experience segment to better reflect the strategic shift related to Advertising Cloud and to align with our overall core value proposition of delivering on customer experience management. Further, we reclassified revenue and related cost of revenue of our Advertising Cloud offerings from subscription to services and other on our condensed consolidated statements of income. Financial information for all periods presented has been updated to reflect these reclassifications. Significant Accounting Policies There have been no material changes to our significant accounting policies as compared to the significant accounting policies described in our Annual Report. Recently Adopted Accounting Guidance On June 16, 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments-Credit Losses (Topic 326). The FASB subsequently issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. These updates require the measurement and recognition of expected credit losses for financial assets held at amortized cost, which include our trade receivables and contract assets. The standard also requires that we recognize credit impairment losses related to our available-for-sale debt securities through an allowance for credit losses instead of a reduction in the cost basis. On November 28, 2020, the beginning of our fiscal year 2021, we adopted the accounting requirements of the updated standard utilizing the modified retrospective method of transition. The adoption of this standard did not have a material impact on our condensed consolidated financial statements and related disclosures. Recent Accounting Pronouncements Not Yet Effective There have been no other recent accounting pronouncements or changes in accounting pronouncements during the six months ended June 4, 2021, as compared to the recent accounting pronouncements described in our Annual Report, that are of significance or potential significance to us.

Revenue

Revenue	6 Months Ended
	Jun. 04, 2021
Revenue [Abstract]
Revenue	REVENUE Segment Information Our segment results for the three months ended June 4, 2021 and May 29, 2020 were as follows: (dollars in millions) Digital Digital Publishing and Total Three months ended June 4, 2021 Revenue $ 2,787 $ 938 $ 110 $ 3,835 Cost of revenue 99 319 26 444 Gross profit $ 2,688 $ 619 $ 84 $ 3,391 Gross profit as a percentage of revenue 96 % 66 % 76 % 88 % Three months ended May 29, 2020 Revenue $ 2,232 $ 774 $ 122 $ 3,128 Cost of revenue 84 275 56 415 Gross profit $ 2,148 $ 499 $ 66 $ 2,713 Gross profit as a percentage of revenue 96 % 64 % 54 % 87 % Our segment results for the six months ended June 4, 2021 and May 29, 2020 were as follows: (dollars in millions) Digital Digital Publishing and Total Six months ended June 4, 2021 Revenue $ 5,646 $ 1,872 $ 222 $ 7,740 Cost of revenue 197 638 56 891 Gross profit $ 5,449 $ 1,234 $ 166 $ 6,849 Gross profit as a percentage of revenue 97 % 66 % 75 % 88 % Six months ended May 29, 2020 Revenue $ 4,401 $ 1,527 $ 291 $ 6,219 Cost of revenue 171 552 144 867 Gross profit $ 4,230 $ 975 $ 147 $ 5,352 Gross profit as a percentage of revenue 96 % 64 % 51 % 86 % Revenue by geographic area for the three and six months ended June 4, 2021 and May 29, 2020 were as follows: Three Months Six Months (in millions) 2021 2020 2021 2020 Americas $ 2,185 $ 1,811 $ 4,409 $ 3,608 EMEA 1,026 825 2,078 1,642 APAC 624 492 1,253 969 Total $ 3,835 $ 3,128 $ 7,740 $ 6,219 Revenue by major offerings in our Digital Media reportable segment for the three and six months ended June 4, 2021 and May 29, 2020 were as follows: Three Months Six Months (in millions) 2021 2020 2021 2020 Creative Cloud $ 2,318 $ 1,872 $ 4,697 $ 3,690 Document Cloud 469 360 949 711 Total $ 2,787 $ 2,232 $ 5,646 $ 4,401 Subscription revenue by segment for the three and six months ended June 4, 2021 and May 29, 2020 were as follows: Three Months Six Months (in millions) 2021 2020 2021 2020 Digital Media $ 2,668 $ 2,135 $ 5,399 $ 4,193 Digital Experience 817 656 1,629 1,295 Publishing and Advertising 35 40 76 75 Total $ 3,520 $ 2,831 $ 7,104 $ 5,563 Contract Balances A receivable is recorded when an unconditional right to invoice and receive payment exists, such that only the passage of time is required before payment of consideration is due. Included in trade receivables on the condensed consolidated balance sheets are unbilled receivable balances which have not yet been invoiced, and are typically related to license revenue or services which are delivered prior to invoicing. As of June 4, 2021, the balance of trade receivables, net of allowances for doubtful accounts, was $1.48 billion, inclusive of unbilled receivables of $100 million. As of November 27, 2020, the balance of trade receivables, net of allowances for doubtful accounts, was $1.40 billion, inclusive of unbilled receivables of $84 million. We maintain an allowance for doubtful accounts which reflects our best estimate of potentially uncollectible trade receivables and is based on both specific and general reserves. We maintain general reserves on a collective basis by considering factors such as historical experience, credit-worthiness, the age of the trade receivable balances, current economic conditions and a reasonable and supportable forecast of future economic conditions. The allowance for doubtful accounts was $19 million and $21 million as of June 4, 2021 and November 27, 2020, respectively. A contract asset is recognized when a conditional right to consideration exists and transfer of control has occurred. Contract assets are included in prepaid expenses and other current assets for the current portion and other assets for the long-term portion on the condensed consolidated balance sheets. We regularly review contract asset balances for impairment, considering factors such as historical experience, credit-worthiness, age of the balance, current economic conditions and a reasonable and supportable forecast of future economic conditions. Contract asset impairments were not material for the six months ended June 4, 2021. Contract assets were $68 million and $81 million as of June 4, 2021 and November 27, 2020, respectively. Deferred revenue primarily consists of billings or payments received in advance of revenue recognition from subscription services, including non-cancellable and non-refundable committed funds and refundable customer deposits. Deferred revenue is recognized as revenue when transfer of control to customers has occurred. As of June 4, 2021, the balance of deferred revenue was $4.28 billion, which includes $39 million of refundable customer deposits. Arrangements with some of our enterprise customers with non-cancellable and non-refundable committed funds provide options to either renew monthly on-premise term-based licenses or use some or all funds to purchase other Adobe products or services. Non-cancellable and non-refundable committed funds related to these agreements comprised approximately 5% of the total deferred revenue. As of November 27, 2020, the balance of deferred revenue was $3.76 billion. During the three and six months ended June 4, 2021, approximately $996 million and $2.70 billion of revenue, respectively, was recognized that was included in the balance of deferred revenue as of November 27, 2020. Transaction price allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and unbilled amounts that will be recognized as revenue in future periods. As of June 4, 2021, remaining performance obligations were approximately $12.23 billion. Non-cancellable and non-refundable funds related to some of our enterprise customer agreements referred to in the paragraph above comprised approximately 5% of the total remaining performance obligations. Approximately 73% of the remaining performance obligations, excluding the aforementioned enterprise customer agreements, are expected to be recognized over the next 12 months with the remainder recognized thereafter. Incremental costs of obtaining a contract with a customer are capitalized if we expect the benefit of those costs to be longer than one year and primarily relate to sales commissions paid to our sales force personnel. Capitalized contract acquisition costs are included in prepaid expenses and other current assets for the current portion and other assets for the long-term portion on the condensed consolidated balance sheets. Capitalized contract acquisition costs were $587 million and $530 million as of June 4, 2021 and November 27, 2020, respectively. As part of our revenue reserves, we record refund liabilities for amounts that may be subject to future refunds, which include sales returns reserves and customer rebates and credits. Refund liabilities are included in accrued expenses on the condensed consolidated balance sheets. Refund liabilities were $118 million and $127 million as of June 4, 2021 and November 27, 2020, respectively.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 04, 2021
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS On December 7, 2020, we completed the acquisition of Workfront, a privately held company that provides a workflow platform, for approximately $1.52 billion of cash consideration. During the first quarter of fiscal 2021, we began integrating Workfront into our Digital Experience reportable segment. The table below represents the preliminary purchase price allocation to total identifiable intangible assets acquired and net liabilities assumed based on their respective estimated fair values as of December 7, 2020. The fair values assigned to assets acquired and liabilities assumed are based on management’s best estimates and assumptions as of the reporting date. Fair values associated with the net tax liabilities assumed and their related impact to goodwill were pending finalization as of the reporting date. (in millions) Amount Useful Life (years) Customer contracts and relationships $ 290 10 Purchased technology 100 3 Backlog 40 2 Trademarks 30 5 Total identifiable intangible assets 460 Net liabilities assumed (41) N/A Goodwill (1) 1,105 N/A Total purchase price $ 1,524 _________________________________________ (1) Non-deductible for tax-purposes.

Cash, Cash Equivalents and Shor

Cash, Cash Equivalents and Short-Term Investments	6 Months Ended
	Jun. 04, 2021
Cash, Cash Equivalents, and Short-term Investments [Abstract]
CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS	CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTSCash equivalents consist of highly liquid marketable debt securities with remaining maturities of three months or less at the date of purchase. We classify our investments in marketable debt securities as “available-for-sale.” We carry these investments at fair value, based on quoted market prices or other readily available market information. Unrealized gains and unrealized non-credit-related losses are included in accumulated other comprehensive income, net of taxes, in our condensed consolidated balance sheets. Unrealized credit-related losses are recorded to other income (expense), net in our condensed consolidated statements of income with a corresponding allowance for credit-related losses in our condensed consolidated balance sheets. Gains and losses are determined using the specific identification method and recognized when realized in our condensed consolidated statements of income. Cash, cash equivalents and short-term investments consisted of the following as of June 4, 2021: (in millions) Amortized Unrealized Unrealized Estimated Current assets: Cash $ 659 $ — $ — $ 659 Cash equivalents: Corporate debt securities 14 — — 14 Money market mutual funds 3,432 — — 3,432 Time deposits 145 — — 145 Total cash equivalents 3,591 — — 3,591 Total cash and cash equivalents 4,250 — — 4,250 Short-term fixed income securities: Asset-backed securities 109 — — 109 Corporate debt securities 1,379 6 — 1,385 Municipal securities 24 — — 24 Total short-term investments 1,512 6 — 1,518 Total cash, cash equivalents and short-term investments $ 5,762 $ 6 $ — $ 5,768 Cash, cash equivalents and short-term investments consisted of the following as of November 27, 2020: (in millions) Amortized Unrealized Unrealized Estimated Current assets: Cash $ 849 $ — $ — $ 849 Cash equivalents: Corporate debt securities 28 — — 28 Money market mutual funds 3,483 — — 3,483 Time deposits 118 — — 118 Total cash equivalents 3,629 — — 3,629 Total cash and cash equivalents 4,478 — — 4,478 Short-term fixed income securities: Asset-backed securities 105 1 — 106 Corporate debt securities 1,378 8 — 1,386 Foreign government securities 3 — — 3 Municipal securities 19 — — 19 Total short-term investments 1,505 9 — 1,514 Total cash, cash equivalents and short-term investments $ 5,983 $ 9 $ — $ 5,992 See Note 5 for further information regarding the fair value of our financial instruments. The following table summarizes the estimated fair value of short-term fixed income securities classified as short-term investments based on stated effective maturities as of June 4, 2021: (in millions) Estimated Due within one year $ 760 Due between one and two years 452 Due between two and three years 283 Due after three years 23 Total $ 1,518

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 04, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis The fair value of our financial assets and liabilities at June 4, 2021 was determined using the following inputs: (in millions) Fair Value Measurements at Reporting Date Using Quoted Prices Significant Significant Total (Level 1) (Level 2) (Level 3) Assets: Cash equivalents: Corporate debt securities $ 14 $ — $ 14 $ — Money market mutual funds 3,432 3,432 — — Time deposits 145 145 — — Short-term investments: Asset-backed securities 109 — 109 — Corporate debt securities 1,385 — 1,385 — Municipal securities 24 — 24 — Prepaid expenses and other current assets: Foreign currency derivatives 37 — 37 — Other assets: Deferred compensation plan assets 143 5 138 — Total assets $ 5,289 $ 3,582 $ 1,707 $ — Liabilities: Accrued expenses: Foreign currency derivatives $ 5 $ — $ 5 $ — The fair value of our financial assets and liabilities at November 27, 2020 was determined using the following inputs: (in millions) Fair Value Measurements at Reporting Date Using Quoted Prices Significant Significant Total (Level 1) (Level 2) (Level 3) Assets: Cash equivalents: Corporate debt securities $ 28 $ — $ 28 $ — Money market mutual funds 3,483 3,483 — — Time deposits 118 118 — — Short-term investments: Asset-backed securities 106 — 106 — Corporate debt securities 1,386 — 1,386 — Foreign government securities 3 — 3 — Municipal securities 19 — 19 — Prepaid expenses and other current assets: Foreign currency derivatives 15 — 15 — Other assets: Deferred compensation plan assets 116 7 109 — Total assets $ 5,274 $ 3,608 $ 1,666 $ — Liabilities: Accrued expenses: Foreign currency derivatives $ 4 $ — $ 4 $ — See Note 4 for further information regarding the fair value of our financial instruments. Our fixed income debt securities consist of high quality, investment grade securities from diverse issuers with a weighted average credit rating of A+. We value these securities based on pricing from independent pricing vendors who use matrix pricing valuation techniques including market approach methodologies that model information generated by market transactions involving identical or comparable assets, as well as discounted cash flow methodologies. Inputs include quoted prices in active markets for identical assets or inputs other than quoted prices that are observable either directly or indirectly in determining fair value, including benchmark yields, issuer spreads off benchmark yields, interest rates and U.S. Treasury or swap curves. We therefore classify all of our fixed income debt securities as Level 2. We perform routine procedures such as comparing prices obtained from multiple independent sources to ensure that appropriate fair values are recorded. The fair values of our money market mutual funds and time deposits are based on the closing price of these assets as of the reporting date. We classify our money market mutual funds and time deposits as Level 1. Our Level 2 over-the-counter foreign currency derivatives are valued using pricing models and discounted cash flow methodologies based on observable foreign exchange and interest rate data at the measurement date. Our deferred compensation plan assets consist of money market and other mutual funds. Our other current financial assets and current financial liabilities have fair values that approximate their carrying values. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis The fair value of our debt was $4.35 billion as of June 4, 2021, based on observable market prices in less active markets and categorized as Level 2. See Note 14 for further details regarding our debt.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 04, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS We may use derivatives to partially offset our business exposure to foreign currency and interest rate risk on expected future cash flows, and certain existing assets and liabilities. We do not use any of our derivative instruments for trading purposes. We enter into master netting arrangements to mitigate credit risk in derivative transactions by permitting net settlement of transactions with the same counterparty. We do not offset fair value amounts recognized for derivative instruments under master netting arrangements. We also enter into collateral security agreements with certain of our counterparties to exchange cash collateral when the net fair value of certain derivative instruments fluctuates from contractually established thresholds. Collateral posted is included in prepaid expenses and other current assets and collateral received is included in accrued expenses on our condensed consolidated balance sheets. Cash Flow Hedges In countries outside the United States, we transact business in U.S. Dollars and in various other currencies. We may use foreign exchange option contracts or forward contracts to hedge a portion of our forecasted foreign currency denominated revenue. These foreign exchange contracts, carried at fair value, have maturities of up to twelve months. In June 2019, we entered into Treasury lock agreements with large financial institutions which fixed benchmark U.S. Treasury rates for an aggregate notional amount of $1 billion of our future debt issuance. These derivative instruments hedged the impact of changes in the benchmark interest rate to future interest payments and were settled upon debt issuance in the first quarter of fiscal 2020. We incurred a loss related to the settlement of the instruments which is amortized to interest expense over the term of our debt due February 1, 2030. See Note 14 for further details regarding our debt. As of June 4, 2021, we had net derivative losses on our foreign exchange option contracts expected to be recognized within the next 18 months, of which $23 million of losses are expected to be recognized into revenue within the next 12 months. In addition, we had net derivative losses on our Treasury lock agreements, of which $4 million is expected to be recognized into interest expense within the next 12 months. Non-Designated Hedges Our derivatives not designated as hedging instruments consist of foreign currency forward contracts that we primarily use to hedge monetary assets and liabilities denominated in non-functional currencies. The fair value of derivative instruments on our condensed consolidated balance sheets as of June 4, 2021 and November 27, 2020 were as follows: (in millions) 2021 2020 Fair Value Fair Value Fair Value Fair Value Derivatives designated as hedging instruments: Foreign exchange option contracts (1) $ 31 $ — $ 12 $ — Derivatives not designated as hedging instruments: Foreign exchange forward contracts (1) 6 5 3 4 Total derivatives $ 37 $ 5 $ 15 $ 4 _________________________________________ (1) Fair value asset derivatives are included in prepaid expenses and other current assets and fair value liability derivatives are included in accrued expenses on our condensed consolidated balance sheets. Gains and losses on derivative instruments, net of tax, recognized in our condensed consolidated statements of comprehensive income for the three and six months ended June 4, 2021 and May 29, 2020 were not material.

Goodwill and Other Intangibles

Goodwill and Other Intangibles	6 Months Ended
	Jun. 04, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLES	GOODWILL AND OTHER INTANGIBLES Goodwill as of June 4, 2021 and November 27, 2020 was $11.86 billion and $10.74 billion, respectively. The increase was primarily due to our acquisition of Workfront in the first quarter of fiscal 2021. During the second quarter of fiscal 2021, we completed our annual goodwill impairment test associated with our reporting units and determined there was no impairment of goodwill. We continually monitor events and changes in circumstances that could indicate that the fair value of any one of our reporting units may more likely than not have fallen below its respective carrying amount. Other intangible assets subject to amortization as of June 4, 2021 and November 27, 2020 were as follows: (in millions) 2021 2020 Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Customer contracts and relationships $ 1,236 $ (341) $ 895 $ 958 $ (289) $ 669 Purchased technology 771 (332) 439 756 (347) 409 Trademarks 393 (126) 267 384 (122) 262 Other 108 (68) 40 84 (65) 19 Other intangibles, net $ 2,508 $ (867) $ 1,641 $ 2,182 $ (823) $ 1,359 During the six months ended June 4, 2021, other intangibles increased primarily due to identifiable intangible assets acquired through Workfront. Amortization expense related to other intangibles was $88 million and $178 million for the three and six months ended June 4, 2021, respectively. Comparatively, amortization expense related other intangible assets was $92 million and $189 million for the three and six months ended May 29, 2020, respectively. Of these amounts, $44 million and $89 million were included in cost of revenue for the three and six months ended June 4, 2021, respectively, and $52 million and $107 million were included in cost of revenue for the three and six months ended May 29, 2020, respectively. As of June 4, 2021, we expect amortization expense in future periods to be as follows: (in millions) Other Intangibles Remainder of 2021 $ 165 2022 313 2023 282 2024 238 2025 217 Thereafter 426 Total expected amortization expense $ 1,641

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 04, 2021
Payables and Accruals [Abstract]
ACCRUED EXPENSES	ACCRUED EXPENSES Accrued expenses as of June 4, 2021 and November 27, 2020 consisted of the following: (in millions) 2021 2020 Accrued compensation and benefits $ 571 $ 375 Accrued bonuses 228 330 Refund liabilities 118 127 Accrued corporate marketing 129 134 Taxes payable 100 95 Accrued hosting fees 33 66 Royalties payable 36 34 Accrued interest expense 34 32 Other 289 229 Accrued expenses $ 1,538 $ 1,422

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 04, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Restricted Stock Units Restricted stock unit activity for the six months ended June 4, 2021 was as follows: Number of Shares (in millions) Weighted Average Aggregate Fair Value (1) (in millions) Beginning outstanding balance 7.0 $ 285.69 Awarded 2.8 $ 473.69 Released (2.3) $ 261.70 Forfeited (0.3) $ 322.65 Ending outstanding balance 7.2 $ 365.95 $ 3,635 Expected to vest 6.5 $ 362.62 $ 3,291 _________________________________________ (1) The aggregate fair value is calculated using the closing stock price as of June 4, 2021 of $504.50. The total fair value of restricted stock units vested during the six months ended June 4, 2021 was $1.10 billion. Performance Shares In the first quarter of fiscal 2021, the Executive Compensation Committee of our Board of Directors approved the 2021 Performance Share Program, the terms of which are similar to prior year programs that are still outstanding. For information regarding our Performance Share Programs including the terms, see “Note 12. Stock-Based Compensation” of our Annual Report on Form 10-K for the fiscal year ended November 27, 2020. As of June 4, 2021, the shares awarded under our 2021, 2020 and 2019 Performance Share Programs remain outstanding and are yet to be achieved. Performance share activity for the six months ended June 4, 2021 was as follows: Number of Shares (in millions) Weighted Average Aggregate Fair Value (1) (in millions) Beginning outstanding balance 0.7 $ 333.85 Awarded 0.4 $ 325.24 Achieved (0.4) $ 218.55 Forfeited (0.1) $ 371.55 Ending outstanding balance 0.6 $ 408.67 $ 314 Expected to vest 0.6 $ 404.16 $ 281 _________________________________________ (1) The aggregate fair value is calculated using the closing stock price as of June 4, 2021 of $504.50. Under our Performance Share Programs, participants generally have the ability to receive up to 200% of the target number of shares originally granted. Shares achieved during the six months ended June 4, 2021 resulted from 200% achievement of target for the 2018 Performance Share Program, as certified by the Executive Compensation Committee in the first quarter of fiscal 2021. Shares awarded during the six months ended June 4, 2021 include 0.2 million additional shares awarded for the final achievement of the 2018 Performance Share Program. The remaining awarded shares were for the 2021 Performance Share Program. The total fair value of performance shares achieved during the six months ended June 4, 2021 was $212 million. Employee Stock Purchase Plan Employees purchased 0.4 million shares at an average price of $241.52 and 0.4 million shares at an average price of $196.45 for the six months ended June 4, 2021 and May 29, 2020, respectively. The intrinsic value of shares purchased during the six months ended June 4, 2021 and May 29, 2020 was $93 million and $56 million, respectively. The intrinsic value is calculated as the difference between the market value on the date of purchase and the purchase price of the shares. Compensation Costs As of June 4, 2021, there was $2.34 billion of unrecognized compensation cost, adjusted for estimated forfeitures, related to non-vested stock-based awards and purchase rights which will be recognized over a weighted average period of 2.36 years. Total unrecognized compensation cost will be adjusted for future changes in estimated forfeitures. Total stock-based compensation costs included in our condensed consolidated statements of income for the three and six months ended June 4, 2021 and May 29, 2020 were as follows: Three Months Six Months (in millions) 2021 2020 2021 2020 Cost of revenue $ 17 $ 17 $ 34 $ 32 Research and development 132 116 267 226 Sales and marketing 73 65 146 130 General and administrative 38 29 94 56 Total $ 260 $ 227 $ 541 $ 444

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 04, 2021
Stockholders' Equity Note [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The components of accumulated other comprehensive income (loss) and activity, net of related taxes, were as follows: (in millions) November 27, Increase / Decrease Reclassification Adjustments June 4, Unrealized gains on available-for-sale securities $ 6 $ (3) $ — (1) $ 3 Net unrealized gains / losses on derivative instruments designated as hedging instruments (60) (10) 24 (2) (46) Cumulative foreign currency translation adjustments (104) 26 — (78) Total accumulated other comprehensive income (loss), net of taxes $ (158) $ 13 $ 24 $ (121) _________________________________________ (1) Reclassification adjustments for gains / losses on available-for-sale securities are classified in other income (expense), net. (2) Reclassification adjustments for gains / losses on foreign currency hedges are classified in revenue and reclassification adjustments for gains / losses on Treasury lock hedges are classified in interest expense. Taxes related to each component of other comprehensive income (loss) for the three and six months ended June 4, 2021 and May 29, 2020 were not material.

Stock Repurchase Program

Stock Repurchase Program	6 Months Ended
	Jun. 04, 2021
Share Repurchase Program [Abstract]
SHARE REPURCHASE PROGRAM	STOCK REPURCHASE PROGRAM To facilitate our stock repurchase program, designed to return value to our stockholders and minimize dilution from stock issuances, we may repurchase shares in the open market or enter into structured repurchase agreements with third parties. In May 2018, our Board of Directors granted us an authority to repurchase up to $8 billion in common stock through the end of fiscal 2021. In December 2020, our Board of Directors granted us additional authority to repurchase up to $15 billion in common stock through the end of fiscal 2024. During the six months ended June 4, 2021 and May 29, 2020, we entered into several structured stock repurchase agreements with large financial institutions, whereupon we provided them with prepayments totaling $1.95 billion and $1.7 billion, respectively. We enter into these agreements in order to take advantage of repurchasing shares at a guaranteed discount to the Volume Weighted Average Price (“VWAP”) of our common stock over a specified period of time. We only enter into such transactions when the discount that we receive is higher than the foregone return on our cash prepayments to the financial institutions. There were no explicit commissions or fees on these structured repurchases. Under the terms of the agreements, there is no requirement for the financial institutions to return any portion of the prepayment to us. The financial institutions agree to deliver shares to us at monthly intervals during the contract term. The parameters used to calculate the number of shares deliverable are: the total notional amount of the contract, the number of trading days in the contract, the number of trading days in the interval and the average VWAP of our stock during the interval less the agreed upon discount. During the six months ended June 4, 2021, we repurchased approximately 3.9 million shares at an average price of $478.58 through structured repurchase agreements entered into during fiscal 2020 and the six months ended June 4, 2021. During the six months ended May 29, 2020 we repurchased approximately 5.0 million shares at an average price of $332.31 through structured repurchase agreements entered into during fiscal 2019 and the six months ended May 29, 2020. For the six months ended June 4, 2021, the prepayments were classified as treasury stock on our condensed consolidated balance sheets at the payment date, though only shares physically delivered to us by June 4, 2021 were excluded from the computation of net income per share. As of June 4, 2021, $333 million of prepayment remained under our outstanding structured stock repurchase agreement. Subsequent to June 4, 2021, as part of both the May 2018 and December 2020 stock repurchase authorities, we entered into a structured stock repurchase agreement with a large financial institution whereupon we provided them with a prepayment of $1 billion. Upon completion of the $1 billion stock repurchase agreement, $14.1 billion remains under our December 2020 authority and there is no remaining balance under our May 2018 authority.

Net Income Per Share

Net Income Per Share	6 Months Ended
	Jun. 04, 2021
Earnings Per Share [Abstract]
NET INCOME PER SHARE	NET INCOME PER SHARE The following table sets forth the computation of basic and diluted net income per share for the three and six months ended June 4, 2021 and May 29, 2020: Three Months Six Months (in millions, except per share data) 2021 2020 2021 2020 Net income $ 1,116 $ 1,100 $ 2,377 $ 2,055 Shares used to compute basic net income per share 477.8 481.5 478.3 481.9 Dilutive potential common shares from stock plans and programs 3.0 3.3 3.6 4.4 Shares used to compute diluted net income per share 480.8 484.8 481.9 486.3 Basic net income per share $ 2.34 $ 2.28 $ 4.97 $ 4.26 Diluted net income per share $ 2.32 $ 2.27 $ 4.93 $ 4.23 Anti-dilutive potential common shares 0.2 0.6 0.2 0.4

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 04, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Royalties We have royalty commitments associated with the licensing of certain offerings and products. Royalty expense is generally based on a dollar amount per unit or a percentage of the underlying revenue. Indemnifications In the ordinary course of business, we provide indemnifications of varying scope to customers and channel partners against claims of intellectual property infringement made by third parties arising from the use of our products and from time to time, we are subject to claims by our customers under these indemnification provisions. Historically, costs related to these indemnification provisions have not been significant and we are unable to estimate the maximum potential impact of these indemnification provisions on our future results of operations. To the extent permitted under Delaware law, we have agreements whereby we indemnify our officers and directors for certain events or occurrences while the officer or director is or was serving at our request in such capacity. The indemnification period covers all pertinent events and occurrences during the officer’s or director’s lifetime. The maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited; however, we have director and officer insurance coverage that reduces our exposure and enables us to recover a portion of any future amounts paid. We believe the estimated fair value of these indemnification agreements in excess of applicable insurance coverage is minimal. Legal Proceedings In connection with disputes relating to the validity or alleged infringement of third-party intellectual property rights, including patent rights, we have been, are currently and may in the future be subject to claims, negotiations or complex, protracted litigation. Intellectual property disputes and litigation may be very costly and can be disruptive to our business operations by diverting the attention and energies of management and key technical personnel. Although we have successfully defended or resolved past litigation and disputes, we may not prevail in any ongoing or future litigation and disputes. Third-party intellectual property disputes could subject us to significant liabilities, require us to enter into royalty and licensing arrangements on unfavorable terms, prevent us from licensing certain of our products or offering certain of our services, subject us to injunctions restricting our sale of products or services, cause severe disruptions to our operations or the markets in which we compete, or require us to satisfy indemnification commitments with our customers including contractual provisions under various license arrangements and service agreements. In addition to intellectual property disputes, we are subject to legal proceedings, claims and investigations in the ordinary course of business, including claims relating to commercial, employment and other matters. Some of these disputes and legal proceedings may include speculative claims for substantial or indeterminate amounts of damages. We consider all claims on a quarterly basis in accordance with GAAP and based on known facts assess whether potential losses are considered reasonably possible or probable and estimable. Based upon this assessment, we then evaluate disclosure requirements and whether to accrue for such claims in our financial statements. This determination is then reviewed and discussed with the Audit Committee of the Board of Directors. We make a provision for a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed at least quarterly and adjusted to reflect the impacts of negotiations, settlements, rulings, advice of legal counsel and other information and events pertaining to a particular case. Unless otherwise specifically disclosed in this note, we have determined that no provision for liability nor disclosure is required related to any claim against us because: (a) there is not a reasonable possibility that a loss exceeding amounts already recognized (if any) may be incurred with respect to such claim; (b) a reasonably possible loss or range of loss cannot be estimated; or (c) such estimate is immaterial. All legal costs associated with litigation are expensed as incurred. Litigation is inherently unpredictable. However, we believe that we have valid defenses with respect to the legal matters pending against us. It is possible, nevertheless, that our consolidated financial position, results of operations or cash flows could be negatively affected by an unfavorable resolution of one or more of such proceedings, claims or investigations. In connection with our anti-piracy efforts, conducted both internally and through organizations such as the Business Software Alliance, from time to time we undertake litigation against alleged copyright infringers. Such lawsuits may lead to counter-claims alleging improper use of litigation or violation of other laws. We believe we have valid defenses with respect to such counter-claims; however, it is possible that our consolidated financial position, results of operations or cash flows could be negatively affected in any particular period by the resolution of one or more of these counter-claims.

Debt

Debt	6 Months Ended
	Jun. 04, 2021
Debt Disclosure [Abstract]
Debt	DEBT The carrying values of our borrowings as of June 4, 2021 and November 27, 2020 were as follows: (dollars in millions) Issuance Date Due Date Effective Interest Rate 2021 2020 1.70% 2023 Notes February 2020 February 2023 1.92% $ 500 $ 500 1.90% 2025 Notes February 2020 February 2025 2.07% 500 500 3.25% 2025 Notes January 2015 February 2025 3.67% 1,000 1,000 2.15% 2027 Notes February 2020 February 2027 2.26% 850 850 2.30% 2030 Notes February 2020 February 2030 2.69% 1,300 1,300 Total debt outstanding, at par $ 4,150 $ 4,150 Unamortized discount and debt issuance costs (30) (33) Carrying value of long-term debt $ 4,120 $ 4,117 Senior Notes In January 2015, we issued $1 billion of senior notes due February 1, 2025. The related discount and issuance costs are amortized to interest expense over the term of the notes using the effective interest method. Interest is payable semi-annually, in arrears, on February 1 and August 1. In February 2020, we issued $500 million of senior notes due February 1, 2023, $500 million of senior notes due February 1, 2025, $850 million of senior notes due February 1, 2027 and $1.30 billion of senior notes due February 1, 2030. Our total proceeds of approximately $3.14 billion, net of issuance discount, were used for general corporate purposes including repayment of debt instruments due in fiscal 2020. The related discount and issuance costs are amortized to interest expense over the respective terms of the notes using the effective interest method. Interest is payable semi-annually, in arrears, on February 1 and August 1. Based on quoted prices in inactive markets, the total fair value of our outstanding senior notes was $4.35 billion as of June 4, 2021. Our senior notes rank equally with our other unsecured and unsubordinated indebtedness. We may redeem the notes at any time, subject to a make-whole premium. In addition, upon the occurrence of certain change of control triggering events, we may be required to repurchase the notes, at a price equal to 101% of their principal amount, plus accrued and unpaid interest to the date of repurchase. The notes do not contain financial covenants but include covenants that limit our ability to grant liens on assets and to enter into sale and leaseback transactions, subject to significant allowances. Revolving Credit Agreement In October 2018, we entered into a credit agreement (“Revolving Credit Agreement”), providing for a five-year $1 billion senior unsecured revolving credit facility, which replaced our previous five-year $1 billion senior unsecured revolving credit agreement dated as of March 2, 2012 (as amended, the “Prior Revolving Credit Agreement”). In addition, we incurred issuance costs of $1 million which is amortized to interest expense over the term using the straight-line method. The Revolving Credit Agreement provides for loans to Adobe and certain of its subsidiaries that may be designated from time to time as additional borrowers. Pursuant to the terms of the Revolving Credit Agreement, we may, subject to the agreement of lenders to provide additional commitments, obtain up to an additional $500 million in commitments, for a maximum aggregate commitment of $1.5 billion. At our election, loans under the Revolving Credit Agreement will bear interest at either (i) LIBOR plus a margin, based on our debt ratings, ranging from 0.585% to 1.015% or (ii) a base rate, which is defined as the highest of (a) the agent’s prime rate, (b) the federal funds effective rate plus 0.500% or (c) LIBOR plus 1.00% plus a margin, based on our debt ratings, ranging from 0.000% to 0.015%. In addition, facility fees determined according to our debt ratings are payable on the aggregate commitments, regardless of usage, quarterly in an amount ranging from 0.04% to 0.11% per annum. We are permitted to permanently reduce the aggregate commitment under the Revolving Credit Agreement at any time. Subject to certain conditions stated in the Revolving Credit Agreement, Adobe and any of its subsidiaries designated as additional borrowers may borrow, prepay and re-borrow amounts at any time during the term of the Revolving Credit Agreement. The Revolving Credit Agreement contains customary representations, warranties, affirmative and negative covenants, including a financial covenant, events of default and indemnification provisions in favor of the lenders. The negative covenants include restrictions regarding the incurrence of liens and indebtedness, certain merger and acquisition transactions, dispositions and other matters, all subject to certain exceptions. The financial covenant, based on a quarterly financial test, requires us not to exceed a maximum leverage ratio. As of June 4, 2021, we were in compliance with this covenant. The facility will terminate and all amounts owing thereunder will be due and payable on the maturity date unless (a) the commitments are terminated earlier upon the occurrence of certain events, including an event of default, or (b) the maturity date is further extended upon our request, subject to the agreement of the lenders.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 04, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	We have prepared the accompanying unaudited condensed consolidated financial statements pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Pursuant to these rules and regulations, we have condensed or omitted certain information and footnote disclosures we normally include in our annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). In management’s opinion, we have made all adjustments (consisting only of normal, recurring adjustments, except as otherwise indicated) necessary to fairly present our financial position, results of operations and cash flows. Our interim period operating results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. These financial statements and accompanying notes should be read in conjunction with the consolidated financial statements and notes thereto in our Annual Report on Form 10-K for the fiscal year ended November 27, 2020 on file with the SEC (our “Annual Report”).
Use of Estimates	Use of Estimates In preparing the condensed consolidated financial statements and related disclosures in conformity with GAAP and pursuant to the rules and regulations of the SEC, we must make estimates and judgments that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results may differ materially from these estimates.
Fiscal Year	Fiscal Year Our fiscal year is a 52- or 53-week year that ends on the Friday closest to November 30. Our financial results for the six months ended June 4, 2021 benefited from an extra week in the first quarter of fiscal 2021 due to our 52/53 week financial calendar whereby fiscal 2021 is a 53-week year compared with fiscal 2020 which was a 52-week year.
Reclassifications	Reclassifications In the fourth quarter of fiscal 2020, we moved our Advertising Cloud offerings from our Digital Experience segment into our new Publishing and Advertising segment, which combined our Advertising Cloud offerings with our previous Publishing segment. This realignment is consistent with how we manage our Digital Experience segment to better reflect the strategic shift related to Advertising Cloud and to align with our overall core value proposition of delivering on customer experience management. Further, we reclassified revenue and related cost of revenue of our Advertising Cloud offerings from subscription to services and other on our condensed consolidated statements of income. Financial information for all periods presented has been updated to reflect these reclassifications.
Significant Accounting Policies	Significant Accounting Policies There have been no material changes to our significant accounting policies as compared to the significant accounting policies described in our Annual Report.
Recently Adopted Accounting Guidance	Recently Adopted Accounting GuidanceOn June 16, 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments-Credit Losses (Topic 326). The FASB subsequently issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. These updates require the measurement and recognition of expected credit losses for financial assets held at amortized cost, which include our trade receivables and contract assets. The standard also requires that we recognize credit impairment losses related to our available-for-sale debt securities through an allowance for credit losses instead of a reduction in the cost basis. On November 28, 2020, the beginning of our fiscal year 2021, we adopted the accounting requirements of the updated standard utilizing the modified retrospective method of transition. The adoption of this standard did not have a material impact on our condensed consolidated financial statements and related disclosures.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Not Yet Effective There have been no other recent accounting pronouncements or changes in accounting pronouncements during the six months ended June 4, 2021, as compared to the recent accounting pronouncements described in our Annual Report, that are of significance or potential significance to us.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 04, 2021
Revenue [Abstract]
Disaggregation of Revenue	Segment Information Our segment results for the three months ended June 4, 2021 and May 29, 2020 were as follows: (dollars in millions) Digital Digital Publishing and Total Three months ended June 4, 2021 Revenue $ 2,787 $ 938 $ 110 $ 3,835 Cost of revenue 99 319 26 444 Gross profit $ 2,688 $ 619 $ 84 $ 3,391 Gross profit as a percentage of revenue 96 % 66 % 76 % 88 % Three months ended May 29, 2020 Revenue $ 2,232 $ 774 $ 122 $ 3,128 Cost of revenue 84 275 56 415 Gross profit $ 2,148 $ 499 $ 66 $ 2,713 Gross profit as a percentage of revenue 96 % 64 % 54 % 87 % Our segment results for the six months ended June 4, 2021 and May 29, 2020 were as follows: (dollars in millions) Digital Digital Publishing and Total Six months ended June 4, 2021 Revenue $ 5,646 $ 1,872 $ 222 $ 7,740 Cost of revenue 197 638 56 891 Gross profit $ 5,449 $ 1,234 $ 166 $ 6,849 Gross profit as a percentage of revenue 97 % 66 % 75 % 88 % Six months ended May 29, 2020 Revenue $ 4,401 $ 1,527 $ 291 $ 6,219 Cost of revenue 171 552 144 867 Gross profit $ 4,230 $ 975 $ 147 $ 5,352 Gross profit as a percentage of revenue 96 % 64 % 51 % 86 % Revenue by geographic area for the three and six months ended June 4, 2021 and May 29, 2020 were as follows: Three Months Six Months (in millions) 2021 2020 2021 2020 Americas $ 2,185 $ 1,811 $ 4,409 $ 3,608 EMEA 1,026 825 2,078 1,642 APAC 624 492 1,253 969 Total $ 3,835 $ 3,128 $ 7,740 $ 6,219 Revenue by major offerings in our Digital Media reportable segment for the three and six months ended June 4, 2021 and May 29, 2020 were as follows: Three Months Six Months (in millions) 2021 2020 2021 2020 Creative Cloud $ 2,318 $ 1,872 $ 4,697 $ 3,690 Document Cloud 469 360 949 711 Total $ 2,787 $ 2,232 $ 5,646 $ 4,401 Subscription revenue by segment for the three and six months ended June 4, 2021 and May 29, 2020 were as follows: Three Months Six Months (in millions) 2021 2020 2021 2020 Digital Media $ 2,668 $ 2,135 $ 5,399 $ 4,193 Digital Experience 817 656 1,629 1,295 Publishing and Advertising 35 40 76 75 Total $ 3,520 $ 2,831 $ 7,104 $ 5,563

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 04, 2021
Workfront
Business Acquisition
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The table below represents the preliminary purchase price allocation to total identifiable intangible assets acquired and net liabilities assumed based on their respective estimated fair values as of December 7, 2020. The fair values assigned to assets acquired and liabilities assumed are based on management’s best estimates and assumptions as of the reporting date. Fair values associated with the net tax liabilities assumed and their related impact to goodwill were pending finalization as of the reporting date. (in millions) Amount Useful Life (years) Customer contracts and relationships $ 290 10 Purchased technology 100 3 Backlog 40 2 Trademarks 30 5 Total identifiable intangible assets 460 Net liabilities assumed (41) N/A Goodwill (1) 1,105 N/A Total purchase price $ 1,524 _________________________________________ (1) Non-deductible for tax-purposes.

Cash, Cash Equivalents and Sh_2

Cash, Cash Equivalents and Short-Term Investments (Tables)	6 Months Ended
	Jun. 04, 2021
Cash, Cash Equivalents, and Short-term Investments [Abstract]
Cash Cash Equivalents and Short term Investments	Cash, cash equivalents and short-term investments consisted of the following as of June 4, 2021: (in millions) Amortized Unrealized Unrealized Estimated Current assets: Cash $ 659 $ — $ — $ 659 Cash equivalents: Corporate debt securities 14 — — 14 Money market mutual funds 3,432 — — 3,432 Time deposits 145 — — 145 Total cash equivalents 3,591 — — 3,591 Total cash and cash equivalents 4,250 — — 4,250 Short-term fixed income securities: Asset-backed securities 109 — — 109 Corporate debt securities 1,379 6 — 1,385 Municipal securities 24 — — 24 Total short-term investments 1,512 6 — 1,518 Total cash, cash equivalents and short-term investments $ 5,762 $ 6 $ — $ 5,768 Cash, cash equivalents and short-term investments consisted of the following as of November 27, 2020: (in millions) Amortized Unrealized Unrealized Estimated Current assets: Cash $ 849 $ — $ — $ 849 Cash equivalents: Corporate debt securities 28 — — 28 Money market mutual funds 3,483 — — 3,483 Time deposits 118 — — 118 Total cash equivalents 3,629 — — 3,629 Total cash and cash equivalents 4,478 — — 4,478 Short-term fixed income securities: Asset-backed securities 105 1 — 106 Corporate debt securities 1,378 8 — 1,386 Foreign government securities 3 — — 3 Municipal securities 19 — — 19 Total short-term investments 1,505 9 — 1,514 Total cash, cash equivalents and short-term investments $ 5,983 $ 9 $ — $ 5,992
Estimated Fair Value of Short-Term Fixed Income Securities	The following table summarizes the estimated fair value of short-term fixed income securities classified as short-term investments based on stated effective maturities as of June 4, 2021: (in millions) Estimated Due within one year $ 760 Due between one and two years 452 Due between two and three years 283 Due after three years 23 Total $ 1,518

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 04, 2021
Fair Value Disclosures [Abstract]
Financial assets and liabilities at fair value on a recurring basis	The fair value of our financial assets and liabilities at June 4, 2021 was determined using the following inputs: (in millions) Fair Value Measurements at Reporting Date Using Quoted Prices Significant Significant Total (Level 1) (Level 2) (Level 3) Assets: Cash equivalents: Corporate debt securities $ 14 $ — $ 14 $ — Money market mutual funds 3,432 3,432 — — Time deposits 145 145 — — Short-term investments: Asset-backed securities 109 — 109 — Corporate debt securities 1,385 — 1,385 — Municipal securities 24 — 24 — Prepaid expenses and other current assets: Foreign currency derivatives 37 — 37 — Other assets: Deferred compensation plan assets 143 5 138 — Total assets $ 5,289 $ 3,582 $ 1,707 $ — Liabilities: Accrued expenses: Foreign currency derivatives $ 5 $ — $ 5 $ — The fair value of our financial assets and liabilities at November 27, 2020 was determined using the following inputs: (in millions) Fair Value Measurements at Reporting Date Using Quoted Prices Significant Significant Total (Level 1) (Level 2) (Level 3) Assets: Cash equivalents: Corporate debt securities $ 28 $ — $ 28 $ — Money market mutual funds 3,483 3,483 — — Time deposits 118 118 — — Short-term investments: Asset-backed securities 106 — 106 — Corporate debt securities 1,386 — 1,386 — Foreign government securities 3 — 3 — Municipal securities 19 — 19 — Prepaid expenses and other current assets: Foreign currency derivatives 15 — 15 — Other assets: Deferred compensation plan assets 116 7 109 — Total assets $ 5,274 $ 3,608 $ 1,666 $ — Liabilities: Accrued expenses: Foreign currency derivatives $ 4 $ — $ 4 $ —

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 04, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivative Instruments	The fair value of derivative instruments on our condensed consolidated balance sheets as of June 4, 2021 and November 27, 2020 were as follows: (in millions) 2021 2020 Fair Value Fair Value Fair Value Fair Value Derivatives designated as hedging instruments: Foreign exchange option contracts (1) $ 31 $ — $ 12 $ — Derivatives not designated as hedging instruments: Foreign exchange forward contracts (1) 6 5 3 4 Total derivatives $ 37 $ 5 $ 15 $ 4 _________________________________________ (1) Fair value asset derivatives are included in prepaid expenses and other current assets and fair value liability derivatives are included in accrued expenses on our condensed consolidated balance sheets.

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	6 Months Ended
	Jun. 04, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Other intangible assets	Other intangible assets subject to amortization as of June 4, 2021 and November 27, 2020 were as follows: (in millions) 2021 2020 Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Customer contracts and relationships $ 1,236 $ (341) $ 895 $ 958 $ (289) $ 669 Purchased technology 771 (332) 439 756 (347) 409 Trademarks 393 (126) 267 384 (122) 262 Other 108 (68) 40 84 (65) 19 Other intangibles, net $ 2,508 $ (867) $ 1,641 $ 2,182 $ (823) $ 1,359
Amortization expense in future periods	As of June 4, 2021, we expect amortization expense in future periods to be as follows: (in millions) Other Intangibles Remainder of 2021 $ 165 2022 313 2023 282 2024 238 2025 217 Thereafter 426 Total expected amortization expense $ 1,641

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 04, 2021
Payables and Accruals [Abstract]
Accrued Expenses	Accrued expenses as of June 4, 2021 and November 27, 2020 consisted of the following: (in millions) 2021 2020 Accrued compensation and benefits $ 571 $ 375 Accrued bonuses 228 330 Refund liabilities 118 127 Accrued corporate marketing 129 134 Taxes payable 100 95 Accrued hosting fees 33 66 Royalties payable 36 34 Accrued interest expense 34 32 Other 289 229 Accrued expenses $ 1,538 $ 1,422

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 04, 2021
Share-based Payment Arrangement [Abstract]
Restricted Stock Unit Activity	Restricted stock unit activity for the six months ended June 4, 2021 was as follows: Number of Shares (in millions) Weighted Average Aggregate Fair Value (1) (in millions) Beginning outstanding balance 7.0 $ 285.69 Awarded 2.8 $ 473.69 Released (2.3) $ 261.70 Forfeited (0.3) $ 322.65 Ending outstanding balance 7.2 $ 365.95 $ 3,635 Expected to vest 6.5 $ 362.62 $ 3,291 _________________________________________
Performance Share Activity	Performance share activity for the six months ended June 4, 2021 was as follows: Number of Shares (in millions) Weighted Average Aggregate Fair Value (1) (in millions) Beginning outstanding balance 0.7 $ 333.85 Awarded 0.4 $ 325.24 Achieved (0.4) $ 218.55 Forfeited (0.1) $ 371.55 Ending outstanding balance 0.6 $ 408.67 $ 314 Expected to vest 0.6 $ 404.16 $ 281 _________________________________________
Stock-Based Compensation, Income Statement Location	Total stock-based compensation costs included in our condensed consolidated statements of income for the three and six months ended June 4, 2021 and May 29, 2020 were as follows: Three Months Six Months (in millions) 2021 2020 2021 2020 Cost of revenue $ 17 $ 17 $ 34 $ 32 Research and development 132 116 267 226 Sales and marketing 73 65 146 130 General and administrative 38 29 94 56 Total $ 260 $ 227 $ 541 $ 444

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 04, 2021
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive income (loss) and activity, net of related taxes, were as follows: (in millions) November 27, Increase / Decrease Reclassification Adjustments June 4, Unrealized gains on available-for-sale securities $ 6 $ (3) $ — (1) $ 3 Net unrealized gains / losses on derivative instruments designated as hedging instruments (60) (10) 24 (2) (46) Cumulative foreign currency translation adjustments (104) 26 — (78) Total accumulated other comprehensive income (loss), net of taxes $ (158) $ 13 $ 24 $ (121) _________________________________________ (1) Reclassification adjustments for gains / losses on available-for-sale securities are classified in other income (expense), net. (2) Reclassification adjustments for gains / losses on foreign currency hedges are classified in revenue and reclassification adjustments for gains / losses on Treasury lock hedges are classified in interest expense.

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Jun. 04, 2021
Earnings Per Share [Abstract]
Net Income Per Share	The following table sets forth the computation of basic and diluted net income per share for the three and six months ended June 4, 2021 and May 29, 2020: Three Months Six Months (in millions, except per share data) 2021 2020 2021 2020 Net income $ 1,116 $ 1,100 $ 2,377 $ 2,055 Shares used to compute basic net income per share 477.8 481.5 478.3 481.9 Dilutive potential common shares from stock plans and programs 3.0 3.3 3.6 4.4 Shares used to compute diluted net income per share 480.8 484.8 481.9 486.3 Basic net income per share $ 2.34 $ 2.28 $ 4.97 $ 4.26 Diluted net income per share $ 2.32 $ 2.27 $ 4.93 $ 4.23 Anti-dilutive potential common shares 0.2 0.6 0.2 0.4

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 04, 2021
Debt Disclosure [Abstract]
Carrying value of outstanding debt	The carrying values of our borrowings as of June 4, 2021 and November 27, 2020 were as follows: (dollars in millions) Issuance Date Due Date Effective Interest Rate 2021 2020 1.70% 2023 Notes February 2020 February 2023 1.92% $ 500 $ 500 1.90% 2025 Notes February 2020 February 2025 2.07% 500 500 3.25% 2025 Notes January 2015 February 2025 3.67% 1,000 1,000 2.15% 2027 Notes February 2020 February 2027 2.26% 850 850 2.30% 2030 Notes February 2020 February 2030 2.69% 1,300 1,300 Total debt outstanding, at par $ 4,150 $ 4,150 Unamortized discount and debt issuance costs (30) (33) Carrying value of long-term debt $ 4,120 $ 4,117

Revenue (Details 1)

Revenue (Details 1) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 04, 2021	May 29, 2020	Jun. 04, 2021	May 29, 2020
Segment Reporting Information
Revenue	$ 3,835	$ 3,128	$ 7,740	$ 6,219
Cost of revenue	444	415	891	867
Gross profit	$ 3,391	$ 2,713	$ 6,849	$ 5,352
Gross profit as a percentage of revenue	88.00%	87.00%	88.00%	86.00%
Digital Media
Segment Reporting Information
Revenue	$ 2,787	$ 2,232	$ 5,646	$ 4,401
Cost of revenue	99	84	197	171
Gross profit	$ 2,688	$ 2,148	$ 5,449	$ 4,230
Gross profit as a percentage of revenue	96.00%	96.00%	97.00%	96.00%
Digital Experience
Segment Reporting Information
Revenue	$ 938	$ 774	$ 1,872	$ 1,527
Cost of revenue	319	275	638	552
Gross profit	$ 619	$ 499	$ 1,234	$ 975
Gross profit as a percentage of revenue	66.00%	64.00%	66.00%	64.00%
Publishing and Advertising
Segment Reporting Information
Revenue	$ 110	$ 122	$ 222	$ 291
Cost of revenue	26	56	56	144
Gross profit	$ 84	$ 66	$ 166	$ 147
Gross profit as a percentage of revenue	76.00%	54.00%	75.00%	51.00%

Revenue (Details 2)

Revenue (Details 2) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 04, 2021	May 29, 2020	Jun. 04, 2021	May 29, 2020
Revenue
Revenue	$ 3,835	$ 3,128	$ 7,740	$ 6,219
Americas
Revenue
Revenue	2,185	1,811	4,409	3,608
EMEA
Revenue
Revenue	1,026	825	2,078	1,642
APAC
Revenue
Revenue	$ 624	$ 492	$ 1,253	$ 969

Revenue (Details 3)

Revenue (Details 3) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 04, 2021	May 29, 2020	Jun. 04, 2021	May 29, 2020
Revenue
Revenue	$ 3,835	$ 3,128	$ 7,740	$ 6,219
Digital Media
Revenue
Creative Cloud	2,318	1,872	4,697	3,690
Document Cloud	469	360	949	711
Revenue	$ 2,787	$ 2,232	$ 5,646	$ 4,401

Revenue (Details 4)

Revenue (Details 4) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 04, 2021	May 29, 2020	Jun. 04, 2021	May 29, 2020
Disaggregation of Revenue
Subscription revenue	$ 3,520	$ 2,831	$ 7,104	$ 5,563
Digital Media
Disaggregation of Revenue
Subscription revenue	2,668	2,135	5,399	4,193
Digital Experience
Disaggregation of Revenue
Subscription revenue	817	656	1,629	1,295
Publishing and Advertising
Disaggregation of Revenue
Subscription revenue	$ 35	$ 40	$ 76	$ 75

Revenue (Details Numeric)

Revenue (Details Numeric) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 04, 2021	Jun. 04, 2021	Nov. 27, 2020
Trade receivables, net of allowances for doubtful accounts	$ 1,477	$ 1,477	$ 1,398	[1]
Unbilled receivables included in balance of trade receivables, net	100	100	84
Allowances for doubtful accounts	19	19	21
Contract assets	68	68	81
Deferred Revenue	$ 4,280	$ 4,280	3,760
Non-Cancellable Committed Funds, Deferred Revenue, Percentage	5.00%	5.00%
Revenue recognized that was included in the beginning balance of deferred revenue	$ 996	$ 2,700
Remaining performance obligations	$ 12,230	$ 12,230
Non-Cancellable Comitted Funds, Remaining Performance Obligation, Percentage	5.00%	5.00%
Percent of remaining performance obligations expected to be recognized in next 12 months	73.00%	73.00%
Capitalized contract acquisition costs	$ 587	$ 587	530
Refund liabilities	118	118	$ 127
Refundable Customer Deposits
Deferred Revenue	$ 39	$ 39
[1]	The condensed consolidated balance sheet as of November 27, 2020 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.

Acquisitions (Details 1)

Acquisitions (Details 1) - Workfront $ in Millions	Dec. 07, 2020USD ($)
Schedule of acquired assets and liabilities
Customer contracts and relationships	$ 290
Purchased technology	100
Backlog	40
Trademarks	30
Total identifiable intangible assets	460
Net liabilities assumed	(41)
Goodwill	1,105	[1]
Total purchase price	$ 1,524
Customer contracts and relationships
Schedule of acquired assets and liabilities
Acquired Finite-lived Intangible Assets, Useful Life	10 years
Purchased technology
Schedule of acquired assets and liabilities
Acquired Finite-lived Intangible Assets, Useful Life	3 years
Backlog
Schedule of acquired assets and liabilities
Acquired Finite-lived Intangible Assets, Useful Life	2 years
Trademarks
Schedule of acquired assets and liabilities
Acquired Finite-lived Intangible Assets, Useful Life	5 years
[1]	Non-deductible for tax-purposes.

Cash, Cash Equivalents and Sh_3

Cash, Cash Equivalents and Short-Term Investments (Details) - USD ($) $ in Millions	Jun. 04, 2021	Nov. 27, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 5,762	$ 5,983
Unrealized Gains	6	9
Gross Unrealized Losses	0	0
Cash, Cash Equivalents, and Short-term Investments, Fair Value Disclosure	5,768	5,992
Cash and cash equivalents
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4,250	4,478
Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Cash and Cash Equivalents, Fair Value Disclosure	4,250	4,478
Cash
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	659	849
Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Cash and Cash Equivalents, Fair Value Disclosure	659	849
Cash equivalents
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,591	3,629
Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Cash and Cash Equivalents, Fair Value Disclosure	3,591	3,629
Cash equivalents | Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	14	28
Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Cash and Cash Equivalents, Fair Value Disclosure	14	28
Cash equivalents | Money market mutual funds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,432	3,483
Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Cash and Cash Equivalents, Fair Value Disclosure	3,432	3,483
Cash equivalents | Time deposits
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	145	118
Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Cash and Cash Equivalents, Fair Value Disclosure	145	118
Short-term Investments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,512	1,505
Unrealized Gains	6	9
Gross Unrealized Losses	0	0
Short-Term Investments, Fair Value Disclosure	1,518	1,514
Short-term fixed income securities | Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	109	105
Unrealized Gains	0	1
Gross Unrealized Losses	0	0
Short-Term Investments, Fair Value Disclosure	109	106
Short-term fixed income securities | Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,379	1,378
Unrealized Gains	6	8
Gross Unrealized Losses	0	0
Short-Term Investments, Fair Value Disclosure	1,385	1,386
Short-term fixed income securities | Municipal securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	24	19
Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Short-Term Investments, Fair Value Disclosure	$ 24	19
Short-term fixed income securities | Foreign Government Debt
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		3
Unrealized Gains		0
Gross Unrealized Losses		0
Short-Term Investments, Fair Value Disclosure		$ 3

Cash, Cash Equivalents and Sh_4

Cash, Cash Equivalents and Short-Term Investments (Details 1) $ in Millions	Jun. 04, 2021USD ($)
Estimated fair value of short-term fixed income securities
Due within one year, Estimated Fair value	$ 760
Due between one and two years, Estimated Fair value	452
Due between two and three years, Estimated Fair value	283
Available-for-Sale Securities, Debt Maturities, After Three Years, Fair Value	23
Estimated fair value of short-term investments, Total	$ 1,518

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Jun. 04, 2021	Nov. 27, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Deferred Compensation Plan Assets	$ 143	$ 116
Assets, Fair Value Disclosure	5,289	5,274
Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-Term Investment, Fair Value Disclosure	109	106
Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and Cash Equivalents, Fair Value Disclosure	14	28
Short-Term Investment, Fair Value Disclosure	1,385	1,386
Money market mutual funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and Cash Equivalents, Fair Value Disclosure	3,432	3,483
Time deposits
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and Cash Equivalents, Fair Value Disclosure	145	118
Foreign Government Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-Term Investment, Fair Value Disclosure		3
Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-Term Investment, Fair Value Disclosure	24	19
Foreign Exchange Forward Contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Foreign Currency Contracts, Asset, Fair Value Disclosure	37	15
Foreign Currency Contracts, Liability, Fair Value Disclosure	5	4
Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Deferred Compensation Plan Assets	5	7
Assets, Fair Value Disclosure	3,582	3,608
Fair Value, Inputs, Level 1 | Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-Term Investment, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 | Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Short-Term Investment, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 | Money market mutual funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and Cash Equivalents, Fair Value Disclosure	3,432	3,483
Fair Value, Inputs, Level 1 | Time deposits
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and Cash Equivalents, Fair Value Disclosure	145	118
Fair Value, Inputs, Level 1 | Foreign Government Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-Term Investment, Fair Value Disclosure		0
Fair Value, Inputs, Level 1 | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-Term Investment, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 | Foreign Exchange Forward Contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Foreign Currency Contracts, Asset, Fair Value Disclosure	0	0
Foreign Currency Contracts, Liability, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Deferred Compensation Plan Assets	138	109
Assets, Fair Value Disclosure	1,707	1,666
Fair Value, Inputs, Level 2 | Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-Term Investment, Fair Value Disclosure	109	106
Fair Value, Inputs, Level 2 | Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and Cash Equivalents, Fair Value Disclosure	14	28
Short-Term Investment, Fair Value Disclosure	1,385	1,386
Fair Value, Inputs, Level 2 | Money market mutual funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 2 | Time deposits
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 2 | Foreign Government Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-Term Investment, Fair Value Disclosure		3
Fair Value, Inputs, Level 2 | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-Term Investment, Fair Value Disclosure	24	19
Fair Value, Inputs, Level 2 | Foreign Exchange Forward Contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Foreign Currency Contracts, Asset, Fair Value Disclosure	37	15
Foreign Currency Contracts, Liability, Fair Value Disclosure	5	4
Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Deferred Compensation Plan Assets	0	0
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 | Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-Term Investment, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 | Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Short-Term Investment, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 | Money market mutual funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 | Time deposits
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 | Foreign Government Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-Term Investment, Fair Value Disclosure		0
Fair Value, Inputs, Level 3 | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-Term Investment, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 | Foreign Exchange Forward Contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Foreign Currency Contracts, Asset, Fair Value Disclosure	0	0
Foreign Currency Contracts, Liability, Fair Value Disclosure	$ 0	$ 0

Fair Value Measurements (Deta_2

Fair Value Measurements (Details Numeric) $ in Millions	Jun. 04, 2021USD ($)
Outstanding Notes | Fair Value, Nonrecurring | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding Debt, Fair Value Disclosure	$ 4,350

Derivative Financial Instrume_3

Derivative Financial Instruments (Details Numeric) - Cash Flow Hedging - USD ($) $ in Millions	Jun. 04, 2021	Jun. 04, 2021	Jun. 07, 2019
Foreign Exchange Contract
Derivatives and Hedging
Maximum Remaining Maturity of Foreign Currency Derivatives		12 months
Designated as Hedging Instrument | Treasury Lock
Derivatives and Hedging
Derivative, Notional Amount			$ 1,000
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	$ (4)
Designated as Hedging Instrument | Foreign Exchange Option Contracts
Derivatives and Hedging
Maximum Length of Time, Foreign Currency Cash Flow Hedge	18 months
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months	$ (23)	$ (23)

Derivative Financial Instrume_4

Derivative Financial Instruments (Details 1) - USD ($) $ in Millions		Jun. 04, 2021	Nov. 27, 2020
Derivative, Fair Value, Net
Fair value asset derivatives		$ 37	$ 15
Fair value liability derivatives		5	4
Designated as Hedging Instrument | Foreign Exchange Option Contracts
Derivative, Fair Value, Net
Fair value asset derivatives	[1]	31	12
Fair value liability derivatives	[1]	0	0
Derivatives not designated as hedging instruments | Foreign Exchange Forward Contracts
Derivative, Fair Value, Net
Fair value asset derivatives	[1]	6	3
Fair value liability derivatives	[1]	$ 5	$ 4
[1]	Fair value asset derivatives are included in prepaid expenses and other current assets and fair value liability derivatives are included in accrued expenses on our condensed consolidated balance sheets.

Derivative Financial Instrume_5

Derivative Financial Instruments (Details 2) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 04, 2021	May 29, 2020	Jun. 04, 2021	May 29, 2020
Designated as Hedging Instrument | Cash Flow Hedging | Foreign Exchange Option Contracts | Revenue
Derivative Instruments, Gain (Loss)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ (11)	$ 5	$ (21)	$ 12

Goodwill and Other Intangible_2

Goodwill and Other Intangibles (Details) - USD ($) $ in Millions	Jun. 04, 2021	Nov. 27, 2020
Finite-Lived Intangible Assets
Cost	$ 2,508	$ 2,182
Accumulated Amortization	(867)	(823)
Net	1,641	1,359	[1]
Customer contracts and relationships
Finite-Lived Intangible Assets
Cost	1,236	958
Accumulated Amortization	(341)	(289)
Net	895	669
Purchased technology
Finite-Lived Intangible Assets
Cost	771	756
Accumulated Amortization	(332)	(347)
Net	439	409
Trademarks
Finite-Lived Intangible Assets
Cost	393	384
Accumulated Amortization	(126)	(122)
Net	267	262
Other
Finite-Lived Intangible Assets
Cost	108	84
Accumulated Amortization	(68)	(65)
Net	$ 40	$ 19
[1]	The condensed consolidated balance sheet as of November 27, 2020 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.

Goodwill and Other Intangible_3

Goodwill and Other Intangibles (Details 1) - Other intangibles $ in Millions	Jun. 04, 2021USD ($)
Amortization Expense in Future Periods
Remainder of 2021	$ 165
2022	313
2023	282
2024	238
2025	217
Thereafter	426
Total expected amortization expense	$ 1,641

Goodwill and Other Intangible_4

Goodwill and Other Intangibles (Details Numeric) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 04, 2021	May 29, 2020	Jun. 04, 2021	May 29, 2020	Nov. 27, 2020	[1]
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 11,859		$ 11,859		$ 10,742
Finite-Lived Intangible Assets
Amortization of other intangible assets	88	$ 92	178	$ 189
Amortization included in cost of sales	$ 44	$ 52	$ 89	$ 107
[1]	The condensed consolidated balance sheet as of November 27, 2020 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.

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Millions	Jun. 04, 2021	Nov. 27, 2020
Accrued Expense
Accrued compensation and benefits	$ 571	$ 375
Accrued bonuses	228	330
Refund liabilities	118	127
Accrued corporate marketing	129	134
Taxes payable	100	95
Accrued hosting fees	33	66
Royalties payable	36	34
Accrued interest expense	34	32
Other	289	229
Accrued expenses	$ 1,538	$ 1,422	[1]
[1]	The condensed consolidated balance sheet as of November 27, 2020 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.

Stock-Based Compensation (Detai

Stock-Based Compensation (Details 1) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Jun. 04, 2021USD ($)$ / sharesshares
Other
Share Price	$ 504.50
Restricted Stock Units
Share Activity
Beginning outstanding balance, Shares | shares	7
Awarded, Shares | shares	2.8
Released, Shares | shares	(2.3)
Forfeited, Shares | shares	(0.3)
Ending outstanding balance, Shares | shares	7.2
Expected to vest, Shares | shares	6.5
Weighted Average Grant Date Fair Value
Beginning outstanding balance, Weighted average grant date fair value	$ 285.69
Awarded, Weighted average grant date fair value	473.69
Released, Weighted average grant date fair value	261.70
Forfeited, Weighted average grant date fair value	322.65
Ending outstanding balance, Weighted average grant date fair value	365.95
Expected to vest, Weighted average grant date fair value	$ 362.62
Aggregate Fair Value
Ending outstanding balance, Aggregate fair value | $	$ 3,635	[1]
Expected to vest, Aggregate fair value | $	3,291	[1]
Other
Total fair value of restricted stock units vested | $	$ 1,100
[1]	The aggregate fair value is calculated using the closing stock price as of June 4, 2021 of $504.50.

Stock-Based Compensation (Det_2

Stock-Based Compensation (Details 2) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Jun. 04, 2021USD ($)$ / sharesshares
Other
Share Price | $ / shares	$ 504.50
Performance Shares
Share Activity
Beginning outstanding balance, Shares | shares	0.7
Awarded, Shares | shares	0.4
Achieved, Shares | shares	(0.4)
Forfeited, Shares | shares	(0.1)
Ending outstanding balance, Shares | shares	0.6
Expected to vest, Shares | shares	0.6
Weighted Average Grant Date Fair Value
Beginning outstanding balance, Weighted average grant date fair value | $ / shares	$ 333.85
Awarded, Weighted average grant date fair value | $ / shares	325.24
Achieved, Weighted average grant date fair value | $ / shares	218.55
Forfeited, Weighted average grant date fair value | $ / shares	371.55
Ending outstanding balance, Weighted average grant date fair value | $ / shares	408.67
Expected to vest, Weighted average grant date fair value | $ / shares	$ 404.16
Aggregate Fair Value
Ending outstanding balance, Aggregate fair value | $	$ 314	[1]
Expected to vest, Aggregate fair value | $	$ 281	[1]
Other
Maximum Target Percentage Allowed Under Program	200.00%
Total fair value of performance shares achieved | $	$ 212
Performance Shares | Program 2018
Other
Actual Percentage Achieved	200.00%
Additional shares awarded upon achievement | shares	0.2
[1]	The aggregate fair value is calculated using the closing stock price as of June 4, 2021 of $504.50

Stock-Based Compensation (Det_3

Stock-Based Compensation (Details 3) - Employee Stock Purchase Plan - USD ($) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Jun. 04, 2021	May 29, 2020
Share-based Compensation Arrangement by Share-based Payment Award
Shares Purchased, ESPP	0.4	0.4
Average purchase price of shares, ESPP	$ 241.52	$ 196.45
Total intrinsic value of shares purchased, ESPP	$ 93	$ 56

Stock-Based Compensation (Det_4

Stock-Based Compensation (Details 4) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 04, 2021	May 29, 2020	Jun. 04, 2021	May 29, 2020
Total stock-based compensation costs
Stock-based compensation costs	$ 260	$ 227	$ 541	$ 444
Cost of Revenue
Total stock-based compensation costs
Stock-based compensation costs	17	17	34	32
Research and Development
Total stock-based compensation costs
Stock-based compensation costs	132	116	267	226
Sales and Marketing
Total stock-based compensation costs
Stock-based compensation costs	73	65	146	130
General and Administrative
Total stock-based compensation costs
Stock-based compensation costs	$ 38	$ 29	$ 94	$ 56

Stock-Based Compensation (Det_5

Stock-Based Compensation (Details Numeric) $ in Millions	Jun. 04, 2021USD ($)
Share-based Compensation Arrangement by Share-based Payment Award
Unrecognized compensation cost, non-vested awards	$ 2,340
Period for recognition, unrecognized compensation cost	2 years 4 months 9 days

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details 1) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 04, 2021	May 29, 2020	Jun. 04, 2021		May 29, 2020
Gross unrealized gains, available-for-sale securities
Beginning balance, unrealized gains on available-for-sale securities				$ 6
Gross unrealized gains on available for sale securities, increase or decrease				(3)
Gross unrealized gains on available for sale securities, reclassification adjustments	[1]			0
Ending balance, unrealized gains on available-for-sale securities		$ 3		3
Net unrealized gains / losses on available-for-sale securities
Net unrealized gains / losses on available-for-sale securities, increase or decrease		0	$ 2	(3)		$ 6
Net unrealized gains on derivatives designated as hedging instruments
Beginning balance, net unrealized gains / losses on derivative instruments designated as hedging instruments				(60)
Net unrealized gains / losses on derivative instruments designated as hedging instruments, increase or decrease		(15)	1	(10)		2
Net unrealized gains / losses on derivative instruments designated as hedging instruments, reclassification adjustments		12	(2)	24	[2]	(4)
Ending balance, net unrealized gains / losses on derivative instruments designated as hedging instruments		(46)		(46)
Cumulative foreign currency translation adjustments
Beginning balance, cumulative foreign currency translation adjustments				(104)
Cumulative foreign currency translation adjustment, increase or decrease		23	$ (7)	26		$ (11)
Cumulative foreign currency translation adjustment, reclassification adjustments				0
Ending balance, cumulative foreign currency translation adjustments		(78)		(78)
Accumulated other comprehensive income totals
Beginning balance, total accumulated other comprehensive income, net of taxes	[3]			(158)
Accumulated other comprehensive income, increase or decrease				13
Accumulated other comprehensive income, reclassification adjustments				24
Ending balance, total accumulated other comprehensive income, net of taxes		$ (121)		$ (121)
[1]	Reclassification adjustments for gains / losses on available-for-sale securities are classified in other income (expense), net.
[2]	Reclassification adjustments for gains / losses on foreign currency hedges are classified in revenue and reclassification adjustments for gains / losses on Treasury lock hedges are classified in interest expense.
[3]	The condensed consolidated balance sheet as of November 27, 2020 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.

Stock Repurchase Program (Detai

Stock Repurchase Program (Details Numeric) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 04, 2021	May 29, 2020	Dec. 10, 2020	May 21, 2018
Payments for Repurchase of Common Stock		$ 1,950	$ 1,700
Repurchase of common stock, Shares, Acquired		3.9	5
Treasury Stock Acquired, Average Cost Per Share		$ 478.58	$ 332.31
Up Front Payments Treasury Stock Remaining Balance		$ 333
Stock Repurchase Authority 2018
Stock Repurchase Program, Authorized Amount					$ 8,000
Stock Repurchase Authority 2020
Stock Repurchase Program, Authorized Amount				$ 15,000
Subsequent Event | Stock Repurchase Authority 2018
Payments for Repurchase of Common Stock	$ 1,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 14,100

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 04, 2021	May 29, 2020	Jun. 04, 2021	May 29, 2020
Earnings Per Share [Abstract]
Net income	$ 1,116	$ 1,100	$ 2,377	$ 2,055
Shares used to compute basic net income per share	477.8	481.5	478.3	481.9
Dilutive potential common shares from stock plans and programs	3	3.3	3.6	4.4
Shares used to compute diluted net income per share	480.8	484.8	481.9	486.3
Basic net income per share	$ 2.34	$ 2.28	$ 4.97	$ 4.26
Diluted net income per share	$ 2.32	$ 2.27	$ 4.93	$ 4.23
Anti-dilutive potential common shares	0.2	0.6	0.2	0.4

Debt (Details)

Debt (Details) - USD ($) $ in Millions	Jun. 04, 2021	Nov. 27, 2020		Feb. 03, 2020	Jan. 21, 2015
Debt Instrument
Long-term Debt, Gross	$ 4,150	$ 4,150
Debt instrument, unamortized discount and issuance costs, noncurrent	(30)	(33)
Long-term Debt	4,120	4,117	[1]
Notes 2023
Debt Instrument
Debt Instrument, Face Amount	$ 500	500		$ 500
Debt Instrument, Interest Rate, Effective Percentage	1.92%
Notes 1.90% 2025
Debt Instrument
Debt Instrument, Face Amount	$ 500	500		500
Debt Instrument, Interest Rate, Effective Percentage	2.07%
Notes 3.25% 2025
Debt Instrument
Debt Instrument, Face Amount	$ 1,000	1,000			$ 1,000
Debt Instrument, Interest Rate, Effective Percentage	3.67%
Notes 2027
Debt Instrument
Debt Instrument, Face Amount	$ 850	850		850
Debt Instrument, Interest Rate, Effective Percentage	2.26%
Notes 2030
Debt Instrument
Debt Instrument, Face Amount	$ 1,300	$ 1,300		$ 1,300
Debt Instrument, Interest Rate, Effective Percentage	2.69%
[1]	The condensed consolidated balance sheet as of November 27, 2020 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.

Debt (Details Numeric 1)

Debt (Details Numeric 1) - USD ($) $ in Millions	Feb. 03, 2020	Jun. 04, 2021	May 29, 2020	Nov. 27, 2020	Jan. 21, 2015
Debt Instrument
Proceeds from issuance of debt		$ 0	$ 3,144
Outstanding Notes
Debt Instrument
Repurchase notes at price of their principal amount plus accrued and unpaid interest		101.00%
Fair Value, Inputs, Level 2 | Fair Value, Nonrecurring | Outstanding Notes
Debt Instrument
Outstanding Debt, Fair Value Disclosure		$ 4,350
Notes 2023
Debt Instrument
Debt Instrument, Face Amount	$ 500	$ 500		$ 500
Debt Instrument, Interest Rate, Effective Percentage		1.92%
Notes 1.90% 2025
Debt Instrument
Debt Instrument, Face Amount	500	$ 500		500
Debt Instrument, Interest Rate, Effective Percentage		2.07%
Notes 3.25% 2025
Debt Instrument
Debt Instrument, Face Amount		$ 1,000		1,000	$ 1,000
Debt Instrument, Interest Rate, Effective Percentage		3.67%
Notes 2027
Debt Instrument
Debt Instrument, Face Amount	850	$ 850		850
Debt Instrument, Interest Rate, Effective Percentage		2.26%
Notes 2030
Debt Instrument
Debt Instrument, Face Amount	1,300	$ 1,300		$ 1,300
Debt Instrument, Interest Rate, Effective Percentage		2.69%
Notes 2023, 1.90% 2025, 2027, and 2030
Debt Instrument
Proceeds from issuance of debt	$ 3,140

Debt (Details Numeric 2)

Debt (Details Numeric 2) - USD ($) $ in Millions	6 Months Ended
	Jun. 04, 2021	Oct. 17, 2018	Mar. 02, 2012
Revolving Credit Facility
Debt Instrument
Long-term Line of Credit	$ 0
Revolving Credit Facility
Debt Instrument
Revolving Credit Agreement, Borrowing Capacity		$ 1,000	$ 1,000
Unamortized Debt Issuance Expense		1
Option To Request Additional Commitments On Credit Facility		500
Revolving Credit Agreement, Maximum Borrowing Capacity		$ 1,500
Revolving Credit Facility | Minimum
Debt Instrument
Commitment Fee Percentage	0.04%
Revolving Credit Facility | Maximum
Debt Instrument
Commitment Fee Percentage	0.11%
Scenarioi | Revolving Credit Facility | Minimum
Debt Instrument
Margin Added to LIBOR to Determine Interest Rate		0.585%
Scenarioi | Revolving Credit Facility | Maximum
Debt Instrument
Margin Added to LIBOR to Determine Interest Rate		1.015%
Scenarioii | Revolving Credit Facility
Debt Instrument
Percentage Added to Effective Funds Rate in Determining Interest Rate		0.50%
Percentage Added to LIBOR in Determining Interest Rate		1.00%
Scenarioii | Revolving Credit Facility | Minimum
Debt Instrument
Margin Added to LIBOR to Determine Interest Rate		0.00%
Scenarioii | Revolving Credit Facility | Maximum
Debt Instrument
Margin Added to LIBOR to Determine Interest Rate		0.015%