Adobe (ADBE) 10-Q 26 Jun 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares shares in Millions	6 Months Ended
	May 31, 2024	Jun. 21, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 31, 2024
Document Transition Report	false
Entity File Number	0-15175
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
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		443.4
Entity Central Index Key	0000796343
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--11-29

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	May 31, 2024	Dec. 01, 2023	[1]
Current assets:
Cash and cash equivalents	$ 7,660	$ 7,141
Short-term investments	405	701
Trade receivables, net of allowances for doubtful accounts of $19 and $16, respectively	1,612	2,224
Prepaid expenses and other current assets	1,346	1,018
Total current assets	11,023	11,084
Property and equipment, net	1,969	2,030
Operating lease right-of-use assets, net	381	358
Goodwill	12,803	12,805
Other intangibles, net	933	1,088
Deferred income taxes	1,436	1,191
Other assets	1,462	1,223
Total assets	30,007	29,779
Current liabilities:
Trade payables	357	314
Accrued expenses	1,899	1,942
Debt	1,498	0
Deferred revenue	5,558	5,837
Income taxes payable	95	85
Operating lease liabilities	67	73
Total current liabilities	9,474	8,251
Long-term liabilities:
Debt	4,127	3,634
Deferred revenue	128	113
Income taxes payable	591	514
Operating lease liabilities	398	373
Other liabilities	446	376
Total liabilities	15,164	13,261
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;  449 and 455 shares outstanding, respectively	0	0
Additional paid-in capital	12,504	11,586
Retained earnings	35,227	33,346
Accumulated other comprehensive income (loss)	(276)	(285)
Treasury stock, at cost (152 and 146 shares, respectively)	(32,612)	(28,129)
Total stockholders’ equity	14,843	16,518
Total liabilities and stockholders’ equity	$ 30,007	$ 29,779
[1] The condensed consolidated balance sheet as of December 1, 2023 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 (Parenthetical) - USD ($) shares in Millions, $ in Millions	May 31, 2024	Dec. 01, 2023
Current assets:
Allowances for doubtful accounts	$ 19	$ 16
Stockholders’ equity:
Preferred stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	2	2
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	900	900
Common stock, shares issued (in shares)	601	601
Common stock, shares outstanding (in shares)	449	455
Treasury stock, shares (in shares)	152	146

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2024	Jun. 02, 2023	May 31, 2024	Jun. 02, 2023
Revenue:
Revenue	$ 5,309	$ 4,816	$ 10,491	$ 9,471
Cost of revenue:
Cost of revenue	598	572	1,188	1,140
Gross profit	4,711	4,244	9,303	8,331
Operating expenses:
Research and development	984	876	1,923	1,703
Sales and marketing	1,445	1,345	2,797	2,646
General and administrative	355	357	707	688
Acquisition termination fee	0	0	1,000	0
Amortization of intangibles	42	42	84	84
Total operating expenses	2,826	2,620	6,511	5,121
Operating income	1,885	1,624	2,792	3,210
Non-operating income (expense):
Interest expense	(41)	(26)	(68)	(58)
Investment gains (losses), net	4	5	22	6
Other income (expense), net	82	47	152	90
Total non-operating income (expense), net	45	26	106	38
Income before income taxes	1,930	1,650	2,898	3,248
Provision for income taxes	357	355	705	706
Net income	$ 1,573	$ 1,295	$ 2,193	$ 2,542
Basic net income per share (in usd per share)	$ 3.50	$ 2.83	$ 4.86	$ 5.55
Shares used to compute basic net income per share (in shares)	449.1	457.8	450.9	458.4
Diluted net income per share (in usd per share)	$ 3.49	$ 2.82	$ 4.83	$ 5.54
Shares used to compute diluted net income per share (in shares)	451.4	458.7	453.9	459.1
Subscription
Revenue:
Revenue	$ 5,060	$ 4,517	$ 9,976	$ 8,890
Cost of revenue:
Cost of revenue	456	436	911	870
Product
Revenue:
Revenue	104	130	223	250
Cost of revenue:
Cost of revenue	8	8	13	16
Services and other
Revenue:
Revenue	145	169	292	331
Cost of revenue:
Cost of revenue	$ 134	$ 128	$ 264	$ 254

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2024	Jun. 02, 2023	May 31, 2024	Jun. 02, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 1,573	$ 1,295	$ 2,193	$ 2,542
Other comprehensive income (loss), net of taxes:
Unrealized gains / losses on available-for-sale securities	3	6	7	14
Reclassification adjustment for recognized gains / losses on available-for-sale securities	0	5	0	5
Net increase (decrease) from available-for-sale securities	3	11	7	19
Derivatives designated as hedging instruments:
Unrealized gains / losses on derivative instruments	(2)	0	1	(9)
Reclassification adjustment for realized gains / losses on derivative instruments	4	(7)	8	(24)
Net increase (decrease) from derivatives designated as hedging instruments	2	(7)	9	(33)
Foreign currency translation adjustments	(4)	6	(7)	10
Other comprehensive income (loss), net of taxes	1	10	9	(4)
Total comprehensive income, net of taxes	$ 1,574	$ 1,305	$ 2,202	$ 2,538

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 (in shares) at Dec. 02, 2022			601
Beginning balances at Dec. 02, 2022	$ 14,051		$ 0	$ 9,868	$ 28,319	$ (293)	$ (23,843)
Beginning balance, treasury stock (in shares) at Dec. 02, 2022							(139)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,542				2,542
Other comprehensive income (loss), net of taxes	(4)					(4)
Re-issuance of treasury stock under stock compensation plans	$ (197)			0	(252)		$ 55
Re-issuance of treasury stock under stock compensation plans (in shares)							2
Repurchase of common stock (in shares)	(7.6)						(8)
Repurchases of common stock	$ (2,404)						$ (2,404)
Stock-based compensation	849			849
Value of shares in deferred compensation plan	1						1
Ending balances (in shares) at Jun. 02, 2023			601
Ending balances at Jun. 02, 2023	14,838		$ 0	10,717	30,609	(297)	$ (26,191)
Ending balance, treasury stock (in shares) at Jun. 02, 2023							(145)
Beginning balances (in shares) at Mar. 03, 2023			601
Beginning balances at Mar. 03, 2023	14,206		$ 0	10,284	29,435	(307)	$ (25,206)
Beginning balance, treasury stock (in shares) at Mar. 03, 2023							(142)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,295				1,295
Other comprehensive income (loss), net of taxes	10					10
Re-issuance of treasury stock under stock compensation plans	(102)				(121)		$ 19
Re-issuance of treasury stock under stock compensation plans (in shares)							0
Repurchase of common stock (in shares)							(3)
Repurchases of common stock	(1,004)						$ (1,004)
Stock-based compensation	433			433
Ending balances (in shares) at Jun. 02, 2023			601
Ending balances at Jun. 02, 2023	14,838		$ 0	10,717	30,609	(297)	$ (26,191)
Ending balance, treasury stock (in shares) at Jun. 02, 2023							(145)
Beginning balances (in shares) at Dec. 01, 2023			601
Beginning balances at Dec. 01, 2023	$ 16,518	[1]	$ 0	11,586	33,346	(285)	$ (28,129)
Beginning balance, treasury stock (in shares) at Dec. 01, 2023	(146)						(146)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 2,193				2,193
Other comprehensive income (loss), net of taxes	9					9
Re-issuance of treasury stock under stock compensation plans	$ (260)			0	(312)		$ 52
Re-issuance of treasury stock under stock compensation plans (in shares)							2
Repurchase of common stock (in shares)	(7.7)						(8)
Repurchases of common stock	$ (4,534)						$ (4,534)
Stock-based compensation	918			918
Value of shares in deferred compensation plan	(1)						(1)
Ending balances (in shares) at May. 31, 2024			601
Ending balances at May. 31, 2024	$ 14,843		$ 0	12,504	35,227	(276)	$ (32,612)
Ending balance, treasury stock (in shares) at May. 31, 2024	(152)						(152)
Beginning balances (in shares) at Mar. 01, 2024			601
Beginning balances at Mar. 01, 2024	$ 15,460		$ 0	12,037	33,809	(277)	$ (30,109)
Beginning balance, treasury stock (in shares) at Mar. 01, 2024							(148)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,573				1,573
Other comprehensive income (loss), net of taxes	1					1
Re-issuance of treasury stock under stock compensation plans	(135)				(155)		$ 20
Re-issuance of treasury stock under stock compensation plans (in shares)							1
Repurchase of common stock (in shares)							(5)
Repurchases of common stock	(2,521)						$ (2,521)
Stock-based compensation	467			467
Value of shares in deferred compensation plan	(2)						(2)
Ending balances (in shares) at May. 31, 2024			601
Ending balances at May. 31, 2024	$ 14,843		$ 0	$ 12,504	$ 35,227	$ (276)	$ (32,612)
Ending balance, treasury stock (in shares) at May. 31, 2024	(152)						(152)
[1] The condensed consolidated balance sheet as of December 1, 2023 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
	May 31, 2024	Jun. 02, 2023
Cash flows from operating activities:
Net income	$ 2,193	$ 2,542
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion	426	432
Stock-based compensation	918	849
Reduction of operating lease right-of-use assets	37	36
Deferred income taxes	(238)	(168)
Unrealized losses (gains) on investments, net	(14)	(2)
Other non-cash items	6	(3)
Changes in operating assets and liabilities, net of acquired assets and assumed liabilities:
Trade receivables, net	604	385
Prepaid expenses and other assets	(641)	(562)
Trade payables	45	(29)
Accrued expenses and other liabilities	(45)	(36)
Income taxes payable	87	421
Deferred revenue	(264)	(33)
Net cash provided by operating activities	3,114	3,832
Cash flows from investing activities:
Maturities of short-term investments	295	538
Proceeds from sales of short-term investments	7	195
Purchases of property and equipment	(78)	(222)
Purchases of long-term investments, intangibles and other assets	(49)	(34)
Proceeds from sale of long-term investments and other assets	2	1
Net cash provided by investing activities	177	478
Cash flows from financing activities:
Repurchases of common stock	(4,500)	(2,400)
Proceeds from re-issuance of treasury stock	97	70
Taxes paid related to net share settlement of equity awards	(357)	(267)
Proceeds from issuance of debt	1,997	0
Repayment of debt	0	(500)
Other financing activities, net	(7)	3
Net cash used for financing activities	(2,770)	(3,094)
Effect of foreign currency exchange rates on cash and cash equivalents	(2)	4
Net change in cash and cash equivalents	519	1,220
Cash and cash equivalents at beginning of period	7,141	4,236
Cash and cash equivalents at end of period	7,660	5,456
Supplemental disclosures:
Cash paid for income taxes, net of refunds	901	435
Cash paid for interest	$ 48	$ 56

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	May 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION AND SUMMARY OF 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 (the “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 generally accepted accounting principles in the United States (“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 December 1, 2023 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. 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. Recent Accounting Pronouncements Not Yet Effective In November 2023, the Financial Accounting Standards Board (“the FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting, which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The updated standard is effective for our annual periods beginning in fiscal 2025 and interim periods beginning in the first quarter of fiscal 2026. Early adoption is permitted. We are currently evaluating the impact that the updated standard will have on our financial statement disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes, which prescribes standardized categories and disaggregation of information in the reconciliation of provision for income taxes, requires disclosure of disaggregated income taxes paid, and modifies other income tax-related disclosure requirements. The updated standard is effective for us beginning with our fiscal year 2026 annual reporting period. Early adoption is permitted. We are currently evaluating the impact that the updated standard will have on our financial statement disclosures. With the exception of the new standards discussed above, there have been no other recent accounting pronouncements or changes in accounting pronouncements during the six months ended May 31, 2024, 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
	May 31, 2024
Revenue [Abstract]
REVENUE	REVENUE Segment Information Our segment results for the three months ended May 31, 2024 and June 2, 2023 were as follows: (dollars in millions) Digital Digital Publishing and Total Three months ended May 31, 2024 Revenue $ 3,908 $ 1,327 $ 74 $ 5,309 Cost of revenue 181 395 22 598 Gross profit $ 3,727 $ 932 $ 52 $ 4,711 Gross profit as a percentage of revenue 95 % 70 % 70 % 89 % Three months ended June 2, 2023 Revenue $ 3,511 $ 1,222 $ 83 $ 4,816 Cost of revenue 152 399 21 572 Gross profit $ 3,359 $ 823 $ 62 $ 4,244 Gross profit as a percentage of revenue 96 % 67 % 75 % 88 % Our segment results for the six months ended May 31, 2024 and June 2, 2023 were as follows: (dollars in millions) Digital Digital Publishing and Total Six months ended May 31, 2024 Revenue $ 7,724 $ 2,616 $ 151 $ 10,491 Cost of revenue 352 792 44 1,188 Gross profit $ 7,372 $ 1,824 $ 107 $ 9,303 Gross profit as a percentage of revenue 95 % 70 % 71 % 89 % Six months ended June 2, 2023 Revenue $ 6,906 $ 2,398 $ 167 $ 9,471 Cost of revenue 294 803 43 1,140 Gross profit $ 6,612 $ 1,595 $ 124 $ 8,331 Gross profit as a percentage of revenue 96 % 67 % 74 % 88 % Revenue by geographic area for the three and six months ended May 31, 2024 and June 2, 2023 were as follows: Three Months Six Months (in millions) 2024 2023 2024 2023 Americas $ 3,188 $ 2,879 $ 6,298 $ 5,658 EMEA 1,361 1,213 2,680 2,386 APAC 760 724 1,513 1,427 Total $ 5,309 $ 4,816 $ 10,491 $ 9,471 Revenue by major offerings in our Digital Media reportable segment for the three and six months ended May 31, 2024 and June 2, 2023 were as follows: Three Months Six Months (in millions) 2024 2023 2024 2023 Creative Cloud $ 3,126 $ 2,852 $ 6,192 $ 5,613 Document Cloud 782 659 1,532 1,293 Total Digital Media revenue $ 3,908 $ 3,511 $ 7,724 $ 6,906 Subscription revenue by segment for the three and six months ended May 31, 2024 and June 2, 2023 were as follows: Three Months Six Months (in millions) 2024 2023 2024 2023 Digital Media $ 3,828 $ 3,418 $ 7,553 $ 6,719 Digital Experience 1,204 1,070 2,368 2,112 Publishing and Advertising 28 29 55 59 Total subscription revenue $ 5,060 $ 4,517 $ 9,976 $ 8,890 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 May 31, 2024, the balance of trade receivables, net of allowances for doubtful accounts, was $1.61 billion, inclusive of unbilled receivables of $99 million. As of December 1, 2023, the balance of trade receivables, net of allowances for doubtful accounts, was $2.22 billion, inclusive of unbilled receivables of $80 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 $16 million as of May 31, 2024 and December 1, 2023, 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 May 31, 2024. Contract assets were $193 million and $141 million as of May 31, 2024 and December 1, 2023, 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 May 31, 2024, the balance of deferred revenue was $5.69 billion, which includes $55 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 4% of the total deferred revenue. As of December 1, 2023, the balance of deferred revenue was $5.95 billion. During the three and six months ended May 31, 2024, approximately $1.69 billion and $4.36 billion of revenue, respectively, was recognized that was included in the balance of deferred revenue as of December 1, 2023. 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 May 31, 2024, remaining performance obligations were approximately $17.86 billion. Non-cancellable and non-refundable funds related to some of our enterprise customer agreements referred to above comprised approximately 4% of the total remaining performance obligations. Approximately 68% 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 $716 million and $656 million as of May 31, 2024 and December 1, 2023, respectively. 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 $105 million and $111 million as of May 31, 2024 and December 1, 2023, respectively.

Acquisitions

Acquisitions	6 Months Ended
	May 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
ACQUISITIONS	ACQUISITIONS Figma On September 15, 2022, we entered into a definitive merger agreement under which we intended to acquire Figma, Inc. (“Figma”) for approximately $20 billion, comprised of approximately half cash and half stock. On December 17, 2023, we entered into a mutual termination agreement with Figma to terminate the proposed merger. In accordance with the terms of the termination agreement, we paid Figma a termination fee of $1 billion. The termination fee was recorded in operating expenses in our condensed consolidated statements of income during the six months ended May 31, 2024, and was not tax-deductible for financial statement purposes.

Cash, Cash Equivalents and Shor

Cash, Cash Equivalents and Short-Term Investments	6 Months Ended
	May 31, 2024
Cash, Cash Equivalents, and Short-Term Investments [Abstract]
CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS	CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS Cash equivalents consist of highly liquid marketable 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 of marketable debt securities 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 May 31, 2024: (in millions) Amortized Unrealized Unrealized Estimated Current assets: Cash $ 564 $ — $ — $ 564 Cash equivalents: Money market funds 7,012 — — 7,012 Time deposits 84 — — 84 Total cash equivalents 7,096 — — 7,096 Total cash and cash equivalents 7,660 — — 7,660 Short-term fixed income securities: Asset-backed securities 8 — — 8 Corporate debt securities 202 — (1) 201 U.S. agency securities 13 — — 13 U.S. Treasury securities 187 — (4) 183 Total short-term investments 410 — (5) 405 Total cash, cash equivalents and short-term investments $ 8,070 $ — $ (5) $ 8,065 Cash, cash equivalents and short-term investments consisted of the following as of December 1, 2023: (in millions) Amortized Unrealized Unrealized Estimated Current assets: Cash $ 618 $ — $ — $ 618 Cash equivalents: Money market funds 6,498 — — 6,498 Time deposits 25 — — 25 Total cash equivalents 6,523 — — 6,523 Total cash and cash equivalents 7,141 — — 7,141 Short-term fixed income securities: Asset-backed securities 15 — — 15 Corporate debt securities 438 — (4) 434 U.S. agency securities 13 — (1) 12 U.S. Treasury securities 247 — (7) 240 Total short-term investments 713 — (12) 701 Total cash, cash equivalents and short-term investments $ 7,854 $ — $ (12) $ 7,842 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 debt securities classified as short-term investments based on stated effective maturities as of May 31, 2024: (in millions) Estimated Due within one year $ 342 Due between one and two years 60 Due between two and three years 3 Total $ 405

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	May 31, 2024
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 May 31, 2024 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: Money market funds $ 7,012 $ 7,012 $ — $ — Time deposits 84 84 — — Short-term investments: Asset-backed securities 8 — 8 — Corporate debt securities 201 — 201 — U.S. agency securities 13 — 13 — U.S. Treasury securities 183 — 183 — Prepaid expenses and other current assets: Foreign currency derivatives 51 — 51 — Other assets: Deferred compensation plan assets 251 251 — — Total assets $ 7,803 $ 7,347 $ 456 $ — Liabilities: Accrued expenses: Foreign currency derivatives $ 4 $ — $ 4 $ — The fair value of our financial assets and liabilities at December 1, 2023 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: Money market funds $ 6,498 $ 6,498 $ — $ — Time deposits 25 25 — — Short-term investments: Asset-backed securities 15 — 15 — Corporate debt securities 434 — 434 — U.S. agency securities 12 — 12 — U.S. Treasury securities 240 — 240 — Prepaid expenses and other current assets: Foreign currency derivatives 52 — 52 — Other assets: Deferred compensation plan assets 206 206 — — Total assets $ 7,482 $ 6,729 $ 753 $ — 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 available-for-sale debt securities consist of high quality, investment grade securities from diverse issuers with a weighted average credit rating of AA. 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 available-for-sale 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 funds, time deposits and deferred compensation plan assets, which consist of money market and other mutual funds, are based on quoted prices in active markets at the measurement date. Our 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 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 senior notes was $5.39 billion as of May 31, 2024, 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
	May 31, 2024
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. 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 and forward contracts to hedge a portion of our forecasted foreign currency denominated revenue and expenses. These foreign exchange contracts, carried at fair value, have maturities of up to 24 months. As of May 31, 2024, we had net derivative losses on our foreign currency cash flow hedges expected to be recognized within the next 36 months, of which $4 million of net losses are expected to be recognized into revenue 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. 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. The fair value of derivative instruments as of May 31, 2024 and December 1, 2023 were as follows: (in millions) 2024 2023 Fair Value Fair Value Fair Value Fair Value Derivatives designated as hedging instruments: Foreign exchange option contracts $ 44 $ — $ 42 $ — Foreign exchange forward contracts 3 — 1 — Derivatives not designated as hedging instruments: Foreign exchange forward contracts 4 4 9 4 Total derivatives $ 51 $ 4 $ 52 $ 4 For the three and six months ended May 31, 2024 and June 2, 2023, gains and losses on derivative instruments, net of tax, recognized in our condensed consolidated statements of comprehensive income and the effects of derivative instruments on our condensed consolidated statements of income were immaterial.

Goodwill and Other Intangibles

Goodwill and Other Intangibles	6 Months Ended
	May 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLES	GOODWILL AND OTHER INTANGIBLES Goodwill as of May 31, 2024 and December 1, 2023 was $12.80 billion and $12.81 billion, respectively. During the second quarter of fiscal 2024, we completed our annual goodwill impairment test associated with our reporting units and determined there was no impairment of goodwill. Other intangible assets subject to amortization as of May 31, 2024 and December 1, 2023 were as follows: (in millions) 2024 2023 Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Customer contracts and relationships $ 1,204 $ (681) $ 523 $ 1,204 $ (619) $ 585 Purchased technology 884 (630) 254 984 (647) 337 Trademarks 376 (239) 137 376 (217) 159 Other 28 (9) 19 22 (15) 7 Other intangibles, net $ 2,492 $ (1,559) $ 933 $ 2,586 $ (1,498) $ 1,088 Amortization expense related to other intangibles was $84 million and $168 million for the three and six months ended May 31, 2024, respectively. Comparatively, amortization expense related to other intangibles was $96 million and $192 million for the three and six months ended June 2, 2023, respectively. Of these amounts, $42 million and $84 million were included in cost of revenue for the three and six months ended May 31, 2024, respectively, and $54 million and $108 million were included in cost of revenue for the three and six months ended June 2, 2023, respectively. As of May 31, 2024, the estimated aggregate amortization expense in future periods was as follows: (in millions) Fiscal Year Other Intangibles (1) Remainder of 2024 $ 166 2025 301 2026 149 2027 107 2028 65 Thereafter 125 Total expected amortization expense $ 913 _________________________________________ (1) Excludes capitalized in-process research and development which is considered indefinite lived until the completion or abandonment of the associated research and development efforts.

Accrued Expenses

Accrued Expenses	6 Months Ended
	May 31, 2024
Payables and Accruals [Abstract]
ACCRUED EXPENSES	ACCRUED EXPENSES Accrued expenses as of May 31, 2024 and December 1, 2023 consisted of the following: (in millions) 2024 2023 Accrued compensation and benefits $ 744 $ 535 Accrued bonuses 305 547 Accrued corporate marketing 125 132 Sales and use taxes 105 122 Refund liabilities 105 111 Other 515 495 Accrued expenses $ 1,899 $ 1,942 Other primarily includes general business accruals, accrued hosting fees, royalties payable, and derivative collateral liabilities.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	May 31, 2024
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Restricted Stock Units Restricted stock unit activity for the six months ended May 31, 2024 was as follows: Number of Shares (in millions) Weighted Average Aggregate Fair Value (1) (in millions) Beginning outstanding balance 7.8 $ 418.63 Awarded 2.6 $ 590.97 Released (1.8) $ 431.10 Forfeited (0.2) $ 442.98 Ending outstanding balance 8.4 $ 468.88 $ 3,734 Expected to vest 7.7 $ 467.98 $ 3,435 _________________________________________ (1) The aggregate fair value is calculated using the closing stock price as of May 31, 2024 of $444.76. The total fair value of restricted stock units vested during the six months ended May 31, 2024 was $953 million. Performance Shares In the first quarter of fiscal 2024, the Executive Compensation Committee of our Board of Directors (the “ECC”) approved the 2024 Performance Share Program, the terms of which are similar to the 2023 Performance Share Program that is still outstanding. For information regarding our outstanding 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 December 1, 2023. As of May 31, 2024, the performance shares awarded under our 2024, 2023 and 2022 Performance Share Programs remained outstanding and unvested. Performance share activity for the six months ended May 31, 2024 was as follows: Number of Shares (in millions) Weighted Average Aggregate Fair Value (1) (in millions) Beginning outstanding balance 0.5 $ 465.71 Awarded 0.2 $ 645.40 Released (0.1) $ 455.65 Forfeited (0.1) $ 474.70 Ending outstanding balance 0.5 $ 536.56 $ 238 Expected to vest 0.5 $ 534.33 $ 215 _________________________________________ (1) The aggregate fair value is calculated using the closing stock price as of May 31, 2024 of $444.76. Under our Performance Share Programs, participants generally have the ability to receive up to 200% of the target number of shares originally granted. Shares released during the six months ended May 31, 2024 resulted from 83% achievement of target for the 2021 Performance Share Program, as certified by the ECC in the first quarter of fiscal 2024. The total fair value of performance shares vested during the six months ended May 31, 2024 was $63 million. Employee Stock Purchase Plan Shares Employees purchased 0.3 million shares at an average price of $299.89 and 0.2 million shares at an average price of $286.05 for the six months ended May 31, 2024 and June 2, 2023, respectively. The intrinsic value of shares purchased during the six months ended May 31, 2024 and June 2, 2023 was $96 million and $12 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 May 31, 2024, there was $3.56 billion of unrecognized compensation cost, adjusted for estimated forfeitures, related to unvested stock-based awards and purchase rights which will be recognized over a weighted average period of 2.31 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 May 31, 2024 and June 2, 2023 were as follows: Three Months Six Months (in millions) 2024 2023 2024 2023 Cost of revenue $ 31 $ 29 $ 60 $ 58 Research and development 234 224 463 433 Sales and marketing 134 123 263 245 General and administrative 68 57 132 113 Total $ 467 $ 433 $ 918 $ 849

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	May 31, 2024
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) December 1, Increase / Decrease Reclassification Adjustments May 31, Net unrealized gains / losses on available-for-sale securities $ (12) $ 7 $ — (1) $ (5) Net unrealized gains / losses on derivative instruments designated as hedging instruments (26) 1 8 (2) (17) Cumulative foreign currency translation adjustments (247) (7) — (254) Total accumulated other comprehensive income (loss), net of taxes $ (285) $ 1 $ 8 $ (276) _________________________________________ (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 or operating expenses, depending on the nature of the underlying transaction, 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 May 31, 2024 and June 2, 2023 were immaterial.

Stock Repurchase Program

Stock Repurchase Program	6 Months Ended
	May 31, 2024
Stock Repurchase Program [Abstract]
STOCK 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 our shares in the open market or enter into structured repurchase agreements with third parties. In December 2020, our Board of Directors granted authority to repurchase up to $15 billion in our common stock, which became fully utilized during the six months ended May 31, 2024. In March 2024, our Board of Directors granted additional authority to repurchase up to $25 billion in our common stock through March 14, 2028. During the six months ended May 31, 2024 and June 2, 2023, we entered into accelerated share repurchase agreements (“ASRs”) with large financial institutions whereupon we provided them with prepayments totaling $4.5 billion and $1.4 billion, respectively. Under the terms of our ASRs, the financial institutions agree to deliver a portion of shares to us at contract inception and the remaining shares at settlement. The total number of shares delivered and average purchase price paid per share are determined upon settlement based on the Volume Weighted Average Price (“VWAP”) over the term of the ASR, less an agreed upon discount. During the six months ended June 2, 2023, we also entered into a structured stock repurchase agreement with a large financial institution whereupon we provided them with a prepayment of $1 billion. Under the terms of our structured stock repurchase agreements, the financial institutions agree to deliver shares to us at monthly intervals during the respective contract terms, and the number of shares delivered each month are determined based on the total notional amount of the contracts, the number of trading days in the intervals and the VWAP during the intervals, less an agreed upon discount. Share repurchase activity for the six months ended May 31, 2024 and June 2, 2023 was as follows: Number of Shares Delivered (in millions) Average Price Paid Per Share Six months ended May 31, 2024 Structured stock repurchase agreement entered into in fiscal 2023 0.6 $ 626.68 ASR entered into in December 2023 3.5 $ 578.11 ASR entered into in March 2024 3.6 $ — (1) Total shares delivered 7.7 Six months ended June 2, 2023 Structured stock repurchase agreements entered into in fiscal 2022 and the six months ended June 2, 2023 3.6 $ 346.84 ASR entered into in December 2022 4.0 $ 348.46 Total shares delivered 7.6 _________________________________________ (1) During the six months ended May 31, 2024, we received the initial delivery of shares under the ASR entered into in March 2024, which remained outstanding as of May 31, 2024. Subsequent to May 31, 2024, the outstanding ASR was settled which resulted in total repurchases of 5.2 million shares at an average price of $475.94. Prepayments for stock repurchases are classified as treasury stock, a component of stockholders’ equity on our condensed consolidated balance sheets, at the payment date, though only shares physically delivered to us by the end of the respective period are excluded from the computation of net income per share. As of May 31, 2024, a portion of the $2.5 billion prepayment under the ASR entered into in March 2024 was evaluated as an unsettled forward contract indexed to our own stock, classified within stockholders’ equity. Subsequent to May 31, 2024, as part of the March 2024 stock repurchase authority, we entered into an ASR with a large financial institution whereupon we provided them with a prepayment of $2.5 billion and received an initial delivery of 3.6 million shares, which represents approximately 75% of our prepayment. Upon completion of this $2.5 billion ASR, $20.15 billion remains under our March 2024 stock repurchase authority.

Net Income Per Share

Net Income Per Share	6 Months Ended
	May 31, 2024
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 May 31, 2024 and June 2, 2023: Three Months Six Months (in millions, except per share data) 2024 2023 2024 2023 Net income $ 1,573 $ 1,295 $ 2,193 $ 2,542 Shares used to compute basic net income per share 449.1 457.8 450.9 458.4 Dilutive potential common shares from stock plans and programs 2.3 0.9 3.0 0.7 Shares used to compute diluted net income per share 451.4 458.7 453.9 459.1 Basic net income per share $ 3.50 $ 2.83 $ 4.86 $ 5.55 Diluted net income per share $ 3.49 $ 2.82 $ 4.83 $ 5.54 Anti-dilutive potential common shares 2.5 3.8 1.7 5.0

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	May 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES 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 We are subject to legal proceedings, claims, including claims relating to intellectual property, commercial, employment and other matters, and investigations, including government investigations, that arise in the ordinary course of our business. Some of these disputes, legal proceedings and investigations 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. As of May 31, 2024, we accrued provisions for legal liabilities that were probable and estimable, which were not material to our financial statements. Unless otherwise specifically disclosed in this note, we have determined that no 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. Since June 2022, we have been cooperating with the Federal Trade Commission (the “FTC”) staff in response to a Civil Investigative Demand seeking information regarding our disclosure and subscription cancellation practices relative to the Restore Online Shoppers’ Confidence Act (“ROSCA”). In November 2023, the FTC staff asserted that they had the authority to enter into consent negotiations to determine if a settlement regarding their investigation of these issues could be reached. On March 20, 2024, we were informed that the FTC had voted to authorize a filing of the case. The FTC then referred the case to the Department of Justice (the “DOJ”), and on June 17, 2024, the DOJ filed a civil complaint in the United States District Court for the Northern District of California, naming Adobe and certain of our employees as defendants. The complaint alleges that Adobe failed to clearly and conspicuously disclose material terms, failed to obtain express informed consent and failed to provide a simple cancellation mechanism regarding our disclosure and subscription cancellation practices in violation of ROSCA and the FTC Act. The DOJ is seeking injunctive relief, civil penalties, equitable monetary relief and other relief. The defense or resolution of this matter could involve significant monetary costs or penalties and have a significant impact on our financial results and operations. There can be no assurance that we will be successful in negotiating a favorable settlement or in litigation. Any remedies or compliance requirements could adversely affect our ability to operate our business or have a materially adverse impact on our financial results. At this stage, we are unable to estimate a reasonably possible financial loss or range of any potential financial loss, if any, as a result of this litigation. On October 20, 2023, a securities class action captioned Pembroke Pines Firefighters & Police Officers Pension Fund et al v. Adobe, Inc. et al, Case No. 1:23-cv-09260, was filed in the U.S. District Court for the Southern District of New York (the “Securities Action”) naming Adobe and certain of our current and former officers as defendants. The Securities Action purports to be brought on behalf of purchasers of the Company’s stock between July 23, 2021 and September 22, 2022 (the “Class Period”). The complaint, which was amended on February 23, 2024, alleges that certain public statements made by Adobe during the Class Period related to competition from Figma and the adequacy of Adobe’s existing offerings to counter harms Adobe may have faced due to Figma’s growing market position were materially false and misleading. The Securities Action seeks unspecified compensatory damages, attorneys’ fees and costs, and extraordinary equitable and/or injunctive relief. On November 16, 2023, a shareholder derivative action captioned Shah v. Narayen et al, Case No. 1:23-cv-01315, was filed in the U.S. District Court for the District of Delaware (the “Shah Action”), purportedly on behalf of Adobe. On January 3, 2024, a second shareholder derivative action captioned Gervat v. Narayen et al, Case No. 1:24-cv-00006, was filed in the U.S. District Court for the District of Delaware (the “Gervat Action”), purportedly on behalf of Adobe. On January 24, 2024, the Court consolidated the Shah and Gervat Actions (together, the “Consolidated Derivative Action”). On January 18, 2024, a shareholder derivative action captioned Sbriglio v. Narayen et al., Case No. 24-cv-429458, was filed in California Superior Court (the “Sbriglio Action”), purportedly on behalf of Adobe. On January 29, 2024, a shareholder derivative action captioned Roy v. Narayen et al., No. 1:24-cv-00633, was filed in the U.S. District Court for the Southern District of New York, (the “Roy Action,” and together with the Consolidated Derivative Action and the Sbriglio Action, the “Derivative Actions”), purportedly on behalf of Adobe. The Derivative Actions are based largely on the same alleged facts and circumstances as the Securities Action, and name certain of our current and former officers and members of our Board of Directors as defendants and Adobe as a nominal defendant. The Derivative Actions together allege claims for breach of fiduciary duty and/or aiding and abetting breach of fiduciary duties, unjust enrichment, waste of corporate assets, abuse of control, and violations of Section 10(b) (and Rule 10b-5 promulgated thereunder), Section 20(a), and/or Section 21D of the Securities Exchange Act of 1934, as amended, and seek recovery of unspecified damages, restitution, and attorney’s fees and costs, as well as disgorgement of profits and certain payments and benefits, in the case of the Gervat Action, and improvements to Adobe’s corporate governance and internal procedures, in the case of the Shah Action, on behalf of Adobe. We dispute the allegations of wrongdoing in the Securities Action and the Derivative Actions and intend to vigorously defend ourselves in these matters. In view of the complexity and ongoing and uncertain nature of the outstanding proceedings and inquiries, at this time we are unable to estimate a reasonably possible financial loss or range of financial loss, if any, that we may incur to resolve or settle the Securities Action and the Derivative Actions. 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.

Debt

Debt	6 Months Ended
	May 31, 2024
Debt Disclosure [Abstract]
DEBT	DEBT The carrying value of our borrowings as of May 31, 2024 and December 1, 2023 were as follows: (dollars in millions) Issuance Date Due Date Effective Interest Rate 2024 2023 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 4.85% 2027 Notes April 2024 April 2027 5.03% 500 — 4.80% 2029 Notes April 2024 April 2029 4.93% 750 — 2.30% 2030 Notes February 2020 February 2030 2.69% 1,300 1,300 4.95% 2034 Notes April 2024 April 2034 5.03% 750 — Total debt outstanding, at par $ 5,650 $ 3,650 Less: Current portion of debt, at par (1,500) — Unamortized discount and debt issuance costs (23) (16) Carrying value of long-term debt $ 4,127 $ 3,634 Current portion of debt, at par $ 1,500 $ — Unamortized discount and debt issuance costs (2) — Carrying value of current debt $ 1,498 $ — 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, 2025, $850 million of senior notes due February 1, 2027 and $1.30 billion of senior notes due February 1, 2030. 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. In April 2024, we issued $500 million of senior notes due April 4, 2027, $750 million of senior notes due April 4, 2029 and $750 million of senior notes due April 4, 2034. Our total proceeds of approximately $1.99 billion, net of an issuance discount of $3 million and total issuance costs of $9 million. 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 April 4 and October 4. During the first quarter of fiscal 2024, we reclassified the senior notes due February 1, 2025 as current debt in our condensed consolidated balance sheets. As of May 31, 2024, the carrying value of our current debt was $1.50 billion, net of the related discount and issuance costs. Though we intend to refinance the current portion of our debt on or before the due date, the timing of the refinancing may be impacted by market conditions. Our senior notes rank equally with our other unsecured and unsubordinated indebtedness, and do not contain financial covenants. We may redeem the notes at any time, subject to a make-whole premium. For the senior notes issued in January 2015 and February 2020, 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. In addition, these notes 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 June 2022, we entered into a credit agreement (the “Revolving Credit Agreement”), providing for a five-year $1.5 billion senior unsecured revolving credit facility, which replaced our previous five-year $1 billion senior unsecured revolving credit agreement entered into in October 2018. 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 $2 billion. At our election, loans under the Revolving Credit Agreement will bear interest at either (i) term Secured Overnight Financing Rate (“SOFR”), plus a margin, (ii) adjusted daily SOFR, plus a margin, (iii) alternative currency rate, plus a margin, or (iv) base rate, which is defined as the highest of (a) the federal funds rate plus 0.50%, (b) the agent’s prime rate, or (c) term SOFR plus 1.00%. The margin for term SOFR, adjusted daily SOFR and alternative currency rate loans is based on our debt ratings, and ranges from 0.460% to 0.900%. 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 0.040% to 0.100% 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 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 transactions, dispositions and other matters, all subject to certain exceptions. 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. As of May 31, 2024, there were no outstanding borrowings under this Revolving Credit Agreement. Commercial Paper Program In September 2023, we established a commercial paper program under which we may issue unsecured commercial paper up to a total of $3 billion outstanding at any time, with maturities of up to 397 days from the date of issue. The net proceeds from the issuance of commercial paper are expected to be used for general corporate purposes, which may include working capital, capital expenditures, acquisitions, stock repurchases, refinancing indebtedness or any other general corporate purposes. As of May 31, 2024, there were no outstanding borrowings under the commercial paper program. Term Loan Credit Agreement In January 2023, we entered into a delayed draw term loan credit agreement (the “Term Loan Credit Agreement”), providing for a senior unsecured term loan of up to $3.5 billion for the purpose of partially funding the purchase price for our intended acquisition of Figma and the related fees and expenses. During the six months ended May 31, 2024, we entered into a mutual termination agreement with Figma to terminate the previously announced merger agreement. Consequently, the Term Loan Credit Agreement was terminated. There were no outstanding borrowings under the Term Loan Credit Agreement at the time of termination.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2024	Jun. 02, 2023	May 31, 2024	Jun. 02, 2023
Pay vs Performance Disclosure
Net income	$ 1,573	$ 1,295	$ 2,193	$ 2,542

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	May 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	May 31, 2024
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 (the “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 generally accepted accounting principles in the United States (“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 December 1, 2023 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.
Significant Accounting Policies	Significant Accounting Policies
Recent Accounting Pronouncements Not Yet Effective	Recent Accounting Pronouncements Not Yet Effective In November 2023, the Financial Accounting Standards Board (“the FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting, which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The updated standard is effective for our annual periods beginning in fiscal 2025 and interim periods beginning in the first quarter of fiscal 2026. Early adoption is permitted. We are currently evaluating the impact that the updated standard will have on our financial statement disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes, which prescribes standardized categories and disaggregation of information in the reconciliation of provision for income taxes, requires disclosure of disaggregated income taxes paid, and modifies other income tax-related disclosure requirements. The updated standard is effective for us beginning with our fiscal year 2026 annual reporting period. Early adoption is permitted. We are currently evaluating the impact that the updated standard will have on our financial statement disclosures. With the exception of the new standards discussed above, there have been no other recent accounting pronouncements or changes in accounting pronouncements during the six months ended May 31, 2024, 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
	May 31, 2024
Revenue [Abstract]
Disaggregation of Revenue	Segment Information Our segment results for the three months ended May 31, 2024 and June 2, 2023 were as follows: (dollars in millions) Digital Digital Publishing and Total Three months ended May 31, 2024 Revenue $ 3,908 $ 1,327 $ 74 $ 5,309 Cost of revenue 181 395 22 598 Gross profit $ 3,727 $ 932 $ 52 $ 4,711 Gross profit as a percentage of revenue 95 % 70 % 70 % 89 % Three months ended June 2, 2023 Revenue $ 3,511 $ 1,222 $ 83 $ 4,816 Cost of revenue 152 399 21 572 Gross profit $ 3,359 $ 823 $ 62 $ 4,244 Gross profit as a percentage of revenue 96 % 67 % 75 % 88 % Our segment results for the six months ended May 31, 2024 and June 2, 2023 were as follows: (dollars in millions) Digital Digital Publishing and Total Six months ended May 31, 2024 Revenue $ 7,724 $ 2,616 $ 151 $ 10,491 Cost of revenue 352 792 44 1,188 Gross profit $ 7,372 $ 1,824 $ 107 $ 9,303 Gross profit as a percentage of revenue 95 % 70 % 71 % 89 % Six months ended June 2, 2023 Revenue $ 6,906 $ 2,398 $ 167 $ 9,471 Cost of revenue 294 803 43 1,140 Gross profit $ 6,612 $ 1,595 $ 124 $ 8,331 Gross profit as a percentage of revenue 96 % 67 % 74 % 88 % Revenue by geographic area for the three and six months ended May 31, 2024 and June 2, 2023 were as follows: Three Months Six Months (in millions) 2024 2023 2024 2023 Americas $ 3,188 $ 2,879 $ 6,298 $ 5,658 EMEA 1,361 1,213 2,680 2,386 APAC 760 724 1,513 1,427 Total $ 5,309 $ 4,816 $ 10,491 $ 9,471 Revenue by major offerings in our Digital Media reportable segment for the three and six months ended May 31, 2024 and June 2, 2023 were as follows: Three Months Six Months (in millions) 2024 2023 2024 2023 Creative Cloud $ 3,126 $ 2,852 $ 6,192 $ 5,613 Document Cloud 782 659 1,532 1,293 Total Digital Media revenue $ 3,908 $ 3,511 $ 7,724 $ 6,906 Subscription revenue by segment for the three and six months ended May 31, 2024 and June 2, 2023 were as follows: Three Months Six Months (in millions) 2024 2023 2024 2023 Digital Media $ 3,828 $ 3,418 $ 7,553 $ 6,719 Digital Experience 1,204 1,070 2,368 2,112 Publishing and Advertising 28 29 55 59 Total subscription revenue $ 5,060 $ 4,517 $ 9,976 $ 8,890

Cash, Cash Equivalents and Sh_2

Cash, Cash Equivalents and Short-Term Investments (Tables)	6 Months Ended
	May 31, 2024
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 May 31, 2024: (in millions) Amortized Unrealized Unrealized Estimated Current assets: Cash $ 564 $ — $ — $ 564 Cash equivalents: Money market funds 7,012 — — 7,012 Time deposits 84 — — 84 Total cash equivalents 7,096 — — 7,096 Total cash and cash equivalents 7,660 — — 7,660 Short-term fixed income securities: Asset-backed securities 8 — — 8 Corporate debt securities 202 — (1) 201 U.S. agency securities 13 — — 13 U.S. Treasury securities 187 — (4) 183 Total short-term investments 410 — (5) 405 Total cash, cash equivalents and short-term investments $ 8,070 $ — $ (5) $ 8,065 Cash, cash equivalents and short-term investments consisted of the following as of December 1, 2023: (in millions) Amortized Unrealized Unrealized Estimated Current assets: Cash $ 618 $ — $ — $ 618 Cash equivalents: Money market funds 6,498 — — 6,498 Time deposits 25 — — 25 Total cash equivalents 6,523 — — 6,523 Total cash and cash equivalents 7,141 — — 7,141 Short-term fixed income securities: Asset-backed securities 15 — — 15 Corporate debt securities 438 — (4) 434 U.S. agency securities 13 — (1) 12 U.S. Treasury securities 247 — (7) 240 Total short-term investments 713 — (12) 701 Total cash, cash equivalents and short-term investments $ 7,854 $ — $ (12) $ 7,842
Estimated Fair Value of Short-Term Fixed Income Debt Securities	The following table summarizes the estimated fair value of short-term fixed income debt securities classified as short-term investments based on stated effective maturities as of May 31, 2024: (in millions) Estimated Due within one year $ 342 Due between one and two years 60 Due between two and three years 3 Total $ 405

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	May 31, 2024
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 May 31, 2024 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: Money market funds $ 7,012 $ 7,012 $ — $ — Time deposits 84 84 — — Short-term investments: Asset-backed securities 8 — 8 — Corporate debt securities 201 — 201 — U.S. agency securities 13 — 13 — U.S. Treasury securities 183 — 183 — Prepaid expenses and other current assets: Foreign currency derivatives 51 — 51 — Other assets: Deferred compensation plan assets 251 251 — — Total assets $ 7,803 $ 7,347 $ 456 $ — Liabilities: Accrued expenses: Foreign currency derivatives $ 4 $ — $ 4 $ — The fair value of our financial assets and liabilities at December 1, 2023 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: Money market funds $ 6,498 $ 6,498 $ — $ — Time deposits 25 25 — — Short-term investments: Asset-backed securities 15 — 15 — Corporate debt securities 434 — 434 — U.S. agency securities 12 — 12 — U.S. Treasury securities 240 — 240 — Prepaid expenses and other current assets: Foreign currency derivatives 52 — 52 — Other assets: Deferred compensation plan assets 206 206 — — Total assets $ 7,482 $ 6,729 $ 753 $ — Liabilities: Accrued expenses: Foreign currency derivatives $ 4 $ — $ 4 $ —

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	May 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivative Instruments	The fair value of derivative instruments as of May 31, 2024 and December 1, 2023 were as follows: (in millions) 2024 2023 Fair Value Fair Value Fair Value Fair Value Derivatives designated as hedging instruments: Foreign exchange option contracts $ 44 $ — $ 42 $ — Foreign exchange forward contracts 3 — 1 — Derivatives not designated as hedging instruments: Foreign exchange forward contracts 4 4 9 4 Total derivatives $ 51 $ 4 $ 52 $ 4

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	6 Months Ended
	May 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Other intangible assets	Other intangible assets subject to amortization as of May 31, 2024 and December 1, 2023 were as follows: (in millions) 2024 2023 Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Customer contracts and relationships $ 1,204 $ (681) $ 523 $ 1,204 $ (619) $ 585 Purchased technology 884 (630) 254 984 (647) 337 Trademarks 376 (239) 137 376 (217) 159 Other 28 (9) 19 22 (15) 7 Other intangibles, net $ 2,492 $ (1,559) $ 933 $ 2,586 $ (1,498) $ 1,088
Amortization expense in future periods	As of May 31, 2024, the estimated aggregate amortization expense in future periods was as follows: (in millions) Fiscal Year Other Intangibles (1) Remainder of 2024 $ 166 2025 301 2026 149 2027 107 2028 65 Thereafter 125 Total expected amortization expense $ 913 _________________________________________ (1) Excludes capitalized in-process research and development which is considered indefinite lived until the completion or abandonment of the associated research and development efforts.

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	May 31, 2024
Payables and Accruals [Abstract]
Accrued Expenses	Accrued expenses as of May 31, 2024 and December 1, 2023 consisted of the following: (in millions) 2024 2023 Accrued compensation and benefits $ 744 $ 535 Accrued bonuses 305 547 Accrued corporate marketing 125 132 Sales and use taxes 105 122 Refund liabilities 105 111 Other 515 495 Accrued expenses $ 1,899 $ 1,942

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	May 31, 2024
Share-Based Payment Arrangement [Abstract]
Restricted Stock Unit Activity	Restricted stock unit activity for the six months ended May 31, 2024 was as follows: Number of Shares (in millions) Weighted Average Aggregate Fair Value (1) (in millions) Beginning outstanding balance 7.8 $ 418.63 Awarded 2.6 $ 590.97 Released (1.8) $ 431.10 Forfeited (0.2) $ 442.98 Ending outstanding balance 8.4 $ 468.88 $ 3,734 Expected to vest 7.7 $ 467.98 $ 3,435 _________________________________________ (1)
Performance Share Activity	Performance share activity for the six months ended May 31, 2024 was as follows: Number of Shares (in millions) Weighted Average Aggregate Fair Value (1) (in millions) Beginning outstanding balance 0.5 $ 465.71 Awarded 0.2 $ 645.40 Released (0.1) $ 455.65 Forfeited (0.1) $ 474.70 Ending outstanding balance 0.5 $ 536.56 $ 238 Expected to vest 0.5 $ 534.33 $ 215 _________________________________________ (1)
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 May 31, 2024 and June 2, 2023 were as follows: Three Months Six Months (in millions) 2024 2023 2024 2023 Cost of revenue $ 31 $ 29 $ 60 $ 58 Research and development 234 224 463 433 Sales and marketing 134 123 263 245 General and administrative 68 57 132 113 Total $ 467 $ 433 $ 918 $ 849

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	May 31, 2024
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) December 1, Increase / Decrease Reclassification Adjustments May 31, Net unrealized gains / losses on available-for-sale securities $ (12) $ 7 $ — (1) $ (5) Net unrealized gains / losses on derivative instruments designated as hedging instruments (26) 1 8 (2) (17) Cumulative foreign currency translation adjustments (247) (7) — (254) Total accumulated other comprehensive income (loss), net of taxes $ (285) $ 1 $ 8 $ (276) _________________________________________ (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 or operating expenses, depending on the nature of the underlying transaction, and reclassification adjustments for gains / losses on Treasury lock hedges are classified in interest expense.

Stock Repurchase Program (Table

Stock Repurchase Program (Tables)	6 Months Ended
	May 31, 2024
Stock Repurchase Program [Abstract]
Schedule of Repurchase Agreements	Share repurchase activity for the six months ended May 31, 2024 and June 2, 2023 was as follows: Number of Shares Delivered (in millions) Average Price Paid Per Share Six months ended May 31, 2024 Structured stock repurchase agreement entered into in fiscal 2023 0.6 $ 626.68 ASR entered into in December 2023 3.5 $ 578.11 ASR entered into in March 2024 3.6 $ — (1) Total shares delivered 7.7 Six months ended June 2, 2023 Structured stock repurchase agreements entered into in fiscal 2022 and the six months ended June 2, 2023 3.6 $ 346.84 ASR entered into in December 2022 4.0 $ 348.46 Total shares delivered 7.6 _________________________________________ (1) During the six months ended May 31, 2024, we received the initial delivery of shares under the ASR entered into in March 2024, which remained outstanding as of May 31, 2024. Subsequent to May 31, 2024, the outstanding ASR was settled which resulted in total repurchases of 5.2 million shares at an average price of $475.94.

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	May 31, 2024
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 May 31, 2024 and June 2, 2023: Three Months Six Months (in millions, except per share data) 2024 2023 2024 2023 Net income $ 1,573 $ 1,295 $ 2,193 $ 2,542 Shares used to compute basic net income per share 449.1 457.8 450.9 458.4 Dilutive potential common shares from stock plans and programs 2.3 0.9 3.0 0.7 Shares used to compute diluted net income per share 451.4 458.7 453.9 459.1 Basic net income per share $ 3.50 $ 2.83 $ 4.86 $ 5.55 Diluted net income per share $ 3.49 $ 2.82 $ 4.83 $ 5.54 Anti-dilutive potential common shares 2.5 3.8 1.7 5.0

Debt (Tables)

Debt (Tables)	6 Months Ended
	May 31, 2024
Debt Disclosure [Abstract]
Carrying value of outstanding debt	The carrying value of our borrowings as of May 31, 2024 and December 1, 2023 were as follows: (dollars in millions) Issuance Date Due Date Effective Interest Rate 2024 2023 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 4.85% 2027 Notes April 2024 April 2027 5.03% 500 — 4.80% 2029 Notes April 2024 April 2029 4.93% 750 — 2.30% 2030 Notes February 2020 February 2030 2.69% 1,300 1,300 4.95% 2034 Notes April 2024 April 2034 5.03% 750 — Total debt outstanding, at par $ 5,650 $ 3,650 Less: Current portion of debt, at par (1,500) — Unamortized discount and debt issuance costs (23) (16) Carrying value of long-term debt $ 4,127 $ 3,634 Current portion of debt, at par $ 1,500 $ — Unamortized discount and debt issuance costs (2) — Carrying value of current debt $ 1,498 $ —

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2024	Jun. 02, 2023	May 31, 2024	Jun. 02, 2023
Segment Reporting Information
Revenue	$ 5,309	$ 4,816	$ 10,491	$ 9,471
Cost of revenue	598	572	1,188	1,140
Gross profit	$ 4,711	$ 4,244	$ 9,303	$ 8,331
Gross profit as a percentage of revenue	89%	88%	89%	88%
Digital Media
Segment Reporting Information
Revenue	$ 3,908	$ 3,511	$ 7,724	$ 6,906
Cost of revenue	181	152	352	294
Gross profit	$ 3,727	$ 3,359	$ 7,372	$ 6,612
Gross profit as a percentage of revenue	95%	96%	95%	96%
Digital Experience
Segment Reporting Information
Revenue	$ 1,327	$ 1,222	$ 2,616	$ 2,398
Cost of revenue	395	399	792	803
Gross profit	$ 932	$ 823	$ 1,824	$ 1,595
Gross profit as a percentage of revenue	70%	67%	70%	67%
Publishing and Advertising
Segment Reporting Information
Revenue	$ 74	$ 83	$ 151	$ 167
Cost of revenue	22	21	44	43
Gross profit	$ 52	$ 62	$ 107	$ 124
Gross profit as a percentage of revenue	70%	75%	71%	74%

Revenue - Disaggregation of R_2

Revenue - Disaggregation of Revenue by Geography (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2024	Jun. 02, 2023	May 31, 2024	Jun. 02, 2023
Revenue
Revenue	$ 5,309	$ 4,816	$ 10,491	$ 9,471
Americas
Revenue
Revenue	3,188	2,879	6,298	5,658
EMEA
Revenue
Revenue	1,361	1,213	2,680	2,386
APAC
Revenue
Revenue	$ 760	$ 724	$ 1,513	$ 1,427

Revenue - Disaggregation of Dig

Revenue - Disaggregation of Digital Media Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2024	Jun. 02, 2023	May 31, 2024	Jun. 02, 2023
Revenue
Revenue	$ 5,309	$ 4,816	$ 10,491	$ 9,471
Digital Media
Revenue
Creative Cloud	3,126	2,852	6,192	5,613
Document Cloud	782	659	1,532	1,293
Revenue	$ 3,908	$ 3,511	$ 7,724	$ 6,906

Revenue - Disaggregation of Sub

Revenue - Disaggregation of Subscription Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2024	Jun. 02, 2023	May 31, 2024	Jun. 02, 2023
Disaggregation of Revenue
Revenue	$ 5,309	$ 4,816	$ 10,491	$ 9,471
Digital Media
Disaggregation of Revenue
Revenue	3,908	3,511	7,724	6,906
Digital Experience
Disaggregation of Revenue
Revenue	1,327	1,222	2,616	2,398
Publishing and Advertising
Disaggregation of Revenue
Revenue	74	83	151	167
Subscription
Disaggregation of Revenue
Revenue	5,060	4,517	9,976	8,890
Subscription | Digital Media
Disaggregation of Revenue
Revenue	3,828	3,418	7,553	6,719
Subscription | Digital Experience
Disaggregation of Revenue
Revenue	1,204	1,070	2,368	2,112
Subscription | Publishing and Advertising
Disaggregation of Revenue
Revenue	$ 28	$ 29	$ 55	$ 59

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	May 31, 2024	May 31, 2024	Dec. 01, 2023
Disaggregation of Revenue
Trade receivables, net of allowances for doubtful accounts	$ 1,612	$ 1,612	$ 2,224	[1]
Unbilled receivables included in balance of trade receivables, net	99	99	80
Allowances for doubtful accounts	(19)	(19)	(16)
Contract assets	193	193	141
Deferred revenue	$ 5,690	$ 5,690	5,950
Non-cancellable committed funds, deferred revenue, percentage	4%	4%
Revenue recognized that was included in the beginning balance of deferred revenue	$ 1,690	$ 4,360
Remaining performance obligations	$ 17,860	$ 17,860
Non-cancellable committed funds, remaining performance obligation, percentage	4%	4%
Percent of remaining performance obligations expected to be recognized in next 12 months	68%	68%
Capitalized contract acquisition costs	$ 716	$ 716	656
Refund liabilities	105	105	$ 111
Refundable customer deposits
Disaggregation of Revenue
Deferred revenue	$ 55	$ 55
[1] The condensed consolidated balance sheet as of December 1, 2023 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 - Additional Infor

Acquisitions - Additional Information (Details) - Figma - USD ($) $ in Billions	Dec. 17, 2023	Sep. 15, 2022
Business Acquisition
Total purchase price, intended		$ 20
Termination fee, mutual termination agreement	$ 1

Cash, Cash Equivalents and Sh_3

Cash, Cash Equivalents and Short-Term Investments (Details) - USD ($) $ in Millions	May 31, 2024	Dec. 01, 2023
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	$ 8,070	$ 7,854
Unrealized gains	0	0
Unrealized losses	(5)	(12)
Estimated fair value	8,065	7,842
Cash | Cash
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	564	618
Unrealized gains	0	0
Unrealized losses	0	0
Estimated fair value	564	618
Total cash equivalents | Money market funds
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	7,012	6,498
Unrealized gains	0	0
Unrealized losses	0	0
Estimated fair value	7,012	6,498
Total cash equivalents | Time deposits
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	84	25
Unrealized gains	0	0
Unrealized losses	0	0
Estimated fair value	84	25
Total cash equivalents | Total cash equivalents
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	7,096	6,523
Unrealized gains	0	0
Unrealized losses	0	0
Estimated fair value	7,096	6,523
Total cash and cash equivalents | Total cash and cash equivalents
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	7,660	7,141
Unrealized gains	0	0
Unrealized losses	0	0
Estimated fair value	7,660	7,141
Short-term fixed income securities: | Asset-backed securities
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	8	15
Unrealized gains	0	0
Unrealized losses	0	0
Estimated fair value	8	15
Short-term fixed income securities: | Corporate debt securities
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	202	438
Unrealized gains	0	0
Unrealized losses	(1)	(4)
Estimated fair value	201	434
Short-term fixed income securities: | U.S. agency securities
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	13	13
Unrealized gains	0	0
Unrealized losses	0	(1)
Estimated fair value	13	12
Short-term fixed income securities: | U.S. Treasury securities
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	187	247
Unrealized gains	0	0
Unrealized losses	(4)	(7)
Estimated fair value	183	240
Total short-term investments | Total short-term investments
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	410	713
Unrealized gains	0	0
Unrealized losses	(5)	(12)
Estimated fair value	$ 405	$ 701

Cash, Cash Equivalents and Sh_4

Cash, Cash Equivalents and Short-Term Investments - Estimated Fair Value (Details) $ in Millions	May 31, 2024 USD ($)
Estimated fair value of short-term fixed income securities
Due within one year	$ 342
Due between one and two years	60
Due between two and three years	3
Total	$ 405

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets And Liabilities At Fair Value On A Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	May 31, 2024	Dec. 01, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Deferred compensation plan assets	$ 251	$ 206
Total assets	7,803	7,482
Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and cash equivalents	7,012	6,498
Time deposits
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and cash equivalents	84	25
Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments:	8	15
Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments:	201	434
U.S. agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments:	13	12
U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments:	183	240
Foreign currency derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Foreign currency derivatives, asset	51	52
Foreign currency derivatives, liability	4	4
Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Deferred compensation plan assets	251	206
Total assets	7,347	6,729
Fair Value, Inputs, Level 1 | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and cash equivalents	7,012	6,498
Fair Value, Inputs, Level 1 | Time deposits
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and cash equivalents	84	25
Fair Value, Inputs, Level 1 | Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments:	0	0
Fair Value, Inputs, Level 1 | Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments:	0	0
Fair Value, Inputs, Level 1 | U.S. agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments:	0	0
Fair Value, Inputs, Level 1 | U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments:	0	0
Fair Value, Inputs, Level 1 | Foreign currency derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Foreign currency derivatives, asset	0	0
Foreign currency derivatives, liability	0	0
Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Deferred compensation plan assets	0	0
Total assets	456	753
Fair Value, Inputs, Level 2 | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and cash equivalents	0	0
Fair Value, Inputs, Level 2 | Time deposits
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and cash equivalents	0	0
Fair Value, Inputs, Level 2 | Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments:	8	15
Fair Value, Inputs, Level 2 | Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments:	201	434
Fair Value, Inputs, Level 2 | U.S. agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments:	13	12
Fair Value, Inputs, Level 2 | U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments:	183	240
Fair Value, Inputs, Level 2 | Foreign currency derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Foreign currency derivatives, asset	51	52
Foreign currency derivatives, liability	4	4
Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Deferred compensation plan assets	0	0
Total assets	0	0
Fair Value, Inputs, Level 3 | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and cash equivalents	0	0
Fair Value, Inputs, Level 3 | Time deposits
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and cash equivalents	0	0
Fair Value, Inputs, Level 3 | Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments:	0	0
Fair Value, Inputs, Level 3 | Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments:	0	0
Fair Value, Inputs, Level 3 | U.S. agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments:	0	0
Fair Value, Inputs, Level 3 | U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments:	0	0
Fair Value, Inputs, Level 3 | Foreign currency derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Foreign currency derivatives, asset	0	0
Foreign currency derivatives, liability	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) $ in Millions	May 31, 2024 USD ($)
Outstanding Notes | Fair Value, Nonrecurring | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes, fair value	$ 5,390

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Details) - Cash Flow Hedging $ in Millions	May 31, 2024 USD ($)
Foreign Exchange Contract
Derivatives and Hedging
Maximum remaining maturity of foreign currency derivatives	24 months
Designated as Hedging Instrument | Foreign exchange option contracts
Derivatives and Hedging
Maximumlength of time, foreign currency cash flow hedge	36 months
Foreign currency cash flow hedge gain (loss) to be reclassified during next 12 months	$ (4)

Derivative Financial Instrume_4

Derivative Financial Instruments - Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions	May 31, 2024	Dec. 01, 2023
Derivative, Fair Value, Net
Fair Value Asset Derivatives	$ 51	$ 52
Fair Value Liability Derivatives	4	4
Designated as Hedging Instrument | Foreign exchange option contracts
Derivative, Fair Value, Net
Fair Value Asset Derivatives	44	42
Fair Value Liability Derivatives	0	0
Designated as Hedging Instrument | Foreign exchange forward contracts
Derivative, Fair Value, Net
Fair Value Asset Derivatives	3	1
Fair Value Liability Derivatives	0	0
Derivatives not designated as hedging instruments | Foreign exchange forward contracts
Derivative, Fair Value, Net
Fair Value Asset Derivatives	4	9
Fair Value Liability Derivatives	$ 4	$ 4

Goodwill and Other Intangible_2

Goodwill and Other Intangibles - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	May 31, 2024	Jun. 02, 2023	May 31, 2024	Jun. 02, 2023	Dec. 01, 2023	[1]
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 12,803,000,000		$ 12,803,000,000		$ 12,805,000,000
Goodwill, impairment	0
Amortization of other intangible assets	84,000,000	$ 96,000,000	168,000,000	$ 192,000,000
Amortization included in cost of revenue	$ 42,000,000	$ 54,000,000	$ 84,000,000	$ 108,000,000
[1] The condensed consolidated balance sheet as of December 1, 2023 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 - Other Intangible Assets (Details) - USD ($) $ in Millions	May 31, 2024	Dec. 01, 2023
Finite-Lived Intangible Assets
Gross Carrying Amount	$ 2,492	$ 2,586
Accumulated Amortization	(1,559)	(1,498)
Net	933	1,088
Customer contracts and relationships
Finite-Lived Intangible Assets
Gross Carrying Amount	1,204	1,204
Accumulated Amortization	(681)	(619)
Net	523	585
Purchased technology
Finite-Lived Intangible Assets
Gross Carrying Amount	884	984
Accumulated Amortization	(630)	(647)
Net	254	337
Trademarks
Finite-Lived Intangible Assets
Gross Carrying Amount	376	376
Accumulated Amortization	(239)	(217)
Net	137	159
Other
Finite-Lived Intangible Assets
Gross Carrying Amount	28	22
Accumulated Amortization	(9)	(15)
Net	$ 19	$ 7

Goodwill and Other Intangible_4

Goodwill and Other Intangibles - Amortization Expense In Future Period (Details) - Other intangibles $ in Millions	May 31, 2024 USD ($)
Amortization Expense in Future Periods
Remainder of 2024	$ 166
2025	301
2026	149
2027	107
2028	65
Thereafter	125
Total expected amortization expense	$ 913

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Millions	May 31, 2024	Dec. 01, 2023
Accrued Expense
Accrued compensation and benefits	$ 744	$ 535
Accrued bonuses	305	547
Accrued corporate marketing	125	132
Sales and use taxes	105	122
Refund liabilities	105	111
Other	515	495
Accrued expenses	$ 1,899	$ 1,942	[1]
[1] The condensed consolidated balance sheet as of December 1, 2023 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 - Rest

Stock-Based Compensation - Restricted Stock Unit Activity (Details) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	May 31, 2024 USD ($) $ / shares shares
Other
Share price (in usd per share)	$ 444.76
Restricted Stock Units
Share Activity
Beginning outstanding balance (in shares) | shares	7.8
Awarded (in shares) | shares	2.6
Released (in shares) | shares	(1.8)
Forfeited (in shares) | shares	(0.2)
Ending outstanding balance (in shares) | shares	8.4
Expected to vest (in shares) | shares	7.7
Weighted Average Grant Date Fair Value
Beginning outstanding balance, weighted average grant date fair value (in usd per share)	$ 418.63
Awarded, weighted average grant date fair value (in usd per share)	590.97
Released, weighted average grant date fair value (in usd per share)	431.10
Forfeited, weighted average grant date fair value (in usd per share)	442.98
Ending outstanding balance, weighted average grant date fair value (in usd per share)	468.88
Expected to vest, weighted average grant date fair value (in usd per share)	$ 467.98
Aggregate Fair Value
Ending outstanding balance, aggregate fair value | $	$ 3,734
Expected to vest, aggregate fair value | $	3,435
Other
Total fair value of restricted stock units vested | $	$ 953

Stock-Based Compensation - Perf

Stock-Based Compensation - Performance Share Activity (Details) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	May 31, 2024 USD ($) $ / shares shares
Other
Share price (in usd per share)	$ 444.76
Performance Shares
Share Activity
Beginning outstanding balance (in shares) | shares	0.5
Awarded (in shares) | shares	0.2
Released (in shares) | shares	(0.1)
Forfeited (in shares) | shares	(0.1)
Ending outstanding balance (in shares) | shares	0.5
Expected to vest (in shares) | shares	0.5
Weighted Average Grant Date Fair Value
Beginning outstanding balance, weighted average grant date fair value (in usd per share)	$ 465.71
Awarded, weighted average grant date fair value (in usd per share)	645.40
Released, weighted average grant date fair value (in usd per share)	455.65
Forfeited, weighted average grant date fair value (in usd per share)	474.70
Ending outstanding balance, weighted average grant date fair value (in usd per share)	536.56
Expected to vest, weighted average grant date fair value (in usd per share)	$ 534.33
Aggregate Fair Value
Ending outstanding balance, aggregate fair value | $	$ 238
Expected to vest, aggregate fair value | $	$ 215
Other
Maximum target percentage	200%
Total fair value of performance shares vested | $	$ 63
Performance Shares | Program 2021
Other
Actual percentage achieved	83%

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - Employee Stock Purchase Plan - USD ($) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	May 31, 2024	Jun. 02, 2023
Share-based Compensation Arrangement by Share-based Payment Award
Shares purchased, ESPP	0.3	0.2
Average purchase price of shares, ESPP ( in usd per share)	$ 299.89	$ 286.05
Total intrinsic value of shares purchased, ESPP	$ 96	$ 12

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Compensation, Income Statement Location (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2024	Jun. 02, 2023	May 31, 2024	Jun. 02, 2023
Total stock-based compensation costs
Stock-based compensation costs	$ 467	$ 433	$ 918	$ 849
Cost of revenue
Total stock-based compensation costs
Stock-based compensation costs	31	29	60	58
Research and development
Total stock-based compensation costs
Stock-based compensation costs	234	224	463	433
Sales and marketing
Total stock-based compensation costs
Stock-based compensation costs	134	123	263	245
General and administrative
Total stock-based compensation costs
Stock-based compensation costs	$ 68	$ 57	$ 132	$ 113

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) $ in Millions	May 31, 2024 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award
Unrecognized compensation cost, non-vested awards	$ 3,560
Period for recognition, unrecognized compensation cost	2 years 3 months 21 days

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		May 31, 2024	Jun. 02, 2023	May 31, 2024	Jun. 02, 2023
Net unrealized gains / losses on available-for-sale securities
Beginning balance, net unrealized gains / losses on available-for-sale securities				$ (12)
Net unrealized gains / losses on available-for-sale securities, increase or decrease		$ 3	$ 6	7	$ 14
Net unrecognized gains / losses on available-for-sale securities, reclassification adjustments		0	5	0	5
Ending balance, net unrealized gains / losses on available-for-sale securities		(5)		(5)
Net unrealized gains / losses on derivatives designated as hedging instruments
Beginning balance, net unrealized gains / losses on derivative instruments designated as hedging instruments				(26)
Net unrealized gains / losses on derivative instruments designated as hedging instruments, increase or decrease		(2)	0	1	(9)
Net unrealized gains / losses on derivative instruments designated as hedging instruments, reclassification adjustments		4	(7)	8	(24)
Ending balance, net unrealized gains / losses on derivative instruments designated as hedging instruments		(17)		(17)
Cumulative foreign currency translation adjustments
Beginning balance, cumulative foreign currency translation adjustments				(247)
Cumulative foreign currency translation adjustment, increase or decrease		(4)	$ 6	(7)	$ 10
Cumulative foreign currency translation adjustment, reclassification adjustments				0
Ending balance, cumulative foreign currency translation adjustments		(254)		(254)
Accumulated other comprehensive income totals
Beginning balance, total accumulated other comprehensive income, net of taxes	[1]			(285)
Accumulated other comprehensive income, increase or decrease				1
Accumulated other comprehensive income, reclassification adjustments				8
Ending balance, total accumulated other comprehensive income, net of taxes		$ (276)		$ (276)
[1] The condensed consolidated balance sheet as of December 1, 2023 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) shares in Millions, $ in Millions	1 Months Ended	6 Months Ended
	Jun. 26, 2024 USD ($) shares	May 31, 2024 USD ($) shares	Jun. 02, 2023 USD ($) shares	Mar. 14, 2024 USD ($)	Dec. 10, 2020 USD ($)
Stock Repurchase Program [Line Items]
Payments for repurchase of common stock		$ 4,500	$ 2,400
Repurchase of common stock, shares, acquired (in shares) | shares		7.7	7.6
Subsequent Event
Stock Repurchase Program [Line Items]
Payments for repurchase of common stock	$ 2,500
Repurchase of common stock, shares, acquired (in shares) | shares	3.6
Prepayment, percentage	0.75
Stock repurchase program, remaining authorized repurchase amount	$ 20,150
December 2020 Repurchase Authority
Stock Repurchase Program [Line Items]
Stock repurchase program, authorized amount					$ 15,000
March 2024 Repurchase Authority
Stock Repurchase Program [Line Items]
Stock repurchase program, authorized amount				$ 25,000
Accelerated Share Repurchase Agreement
Stock Repurchase Program [Line Items]
Payments for repurchase of common stock		$ 4,500	$ 1,400
Structured Stock Repurchase Agreement
Stock Repurchase Program [Line Items]
Payments for repurchase of common stock			$ 1,000
Repurchase of common stock, shares, acquired (in shares) | shares		0.6	3.6
ASR entered into in March 2024
Stock Repurchase Program [Line Items]
Payments for repurchase of common stock		$ 2,500
Repurchase of common stock, shares, acquired (in shares) | shares		3.6
ASR entered into in March 2024 | Subsequent Event
Stock Repurchase Program [Line Items]
Repurchase of common stock, shares, acquired (in shares) | shares	5.2

Stock Repurchase Program - Sche

Stock Repurchase Program - Schedule of Repurchase Agreements (Details) - $ / shares shares in Millions	1 Months Ended	6 Months Ended
	Jun. 26, 2024	May 31, 2024	Jun. 02, 2023
Stock Repurchase Program [Line Items]
Repurchase of common stock, shares, acquired (in shares)		7.7	7.6
Subsequent Event
Stock Repurchase Program [Line Items]
Repurchase of common stock, shares, acquired (in shares)	3.6
Structured Stock Repurchase Agreement
Stock Repurchase Program [Line Items]
Repurchase of common stock, shares, acquired (in shares)		0.6	3.6
Treasury stock acquired, average cost per share (in usd per share)		$ 626.68	$ 346.84
ASR entered into in December 2023
Stock Repurchase Program [Line Items]
Repurchase of common stock, shares, acquired (in shares)		3.5
Treasury stock acquired, average cost per share (in usd per share)		$ 578.11
ASR entered into in March 2024
Stock Repurchase Program [Line Items]
Repurchase of common stock, shares, acquired (in shares)		3.6
Treasury stock acquired, average cost per share (in usd per share)		$ 0
ASR entered into in March 2024 | Subsequent Event
Stock Repurchase Program [Line Items]
Repurchase of common stock, shares, acquired (in shares)	5.2
Treasury stock acquired, average cost per share (in usd per share)	$ 475.94
ASR entered into in December 2022
Stock Repurchase Program [Line Items]
Repurchase of common stock, shares, acquired (in shares)			4
Treasury stock acquired, average cost per share (in usd per share)			$ 348.46

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
	May 31, 2024	Jun. 02, 2023	May 31, 2024	Jun. 02, 2023
Earnings Per Share [Abstract]
Net income	$ 1,573	$ 1,295	$ 2,193	$ 2,542
Shares used to compute basic net income per share (in shares)	449.1	457.8	450.9	458.4
Dilutive potential common shares from stock plans and programs (in shares)	2.3	0.9	3	0.7
Shares used to compute diluted net income per share (in shares)	451.4	458.7	453.9	459.1
Basic net income per share (in usd per share)	$ 3.50	$ 2.83	$ 4.86	$ 5.55
Diluted net income per share (in usd per share)	$ 3.49	$ 2.82	$ 4.83	$ 5.54
Anti-dilutive potential common shares (in shares)	2.5	3.8	1.7	5

Debt - Carrying Value of Outsta

Debt - Carrying Value of Outstanding Debt (Details) - USD ($) $ in Millions	May 31, 2024	Apr. 04, 2024	Dec. 01, 2023		Feb. 03, 2020	Jan. 21, 2015
Debt Instrument
Total debt outstanding, at par	$ 5,650		$ 3,650
Current portion of debt, at par	1,500		0
Unamortized discount and debt issuance costs	(23)		(16)
Carrying value of long-term debt	4,127		3,634	[1]
Unamortized discount and debt issuance costs	(2)		0
Carrying value of current debt	$ 1,498		0	[1]
Notes 1.90% 2025
Debt Instrument
Debt instrument, interest rate, stated percentage	1.90%
Debt instrument, interest rate, effective percentage	2.07%
Debt instrument, face amount	$ 500		500		$ 500
Notes 3.25% 2025
Debt Instrument
Debt instrument, interest rate, stated percentage	3.25%
Debt instrument, interest rate, effective percentage	3.67%
Debt instrument, face amount	$ 1,000		1,000			$ 1,000
Notes 2.15% 2027
Debt Instrument
Debt instrument, interest rate, stated percentage	2.15%
Debt instrument, interest rate, effective percentage	2.26%
Debt instrument, face amount	$ 850		850		850
Notes 4.85% 2027
Debt Instrument
Debt instrument, interest rate, stated percentage	4.85%
Debt instrument, interest rate, effective percentage	5.03%
Debt instrument, face amount	$ 500	$ 500	0
Notes 4.80% 2029
Debt Instrument
Debt instrument, interest rate, stated percentage	4.80%
Debt instrument, interest rate, effective percentage	4.93%
Debt instrument, face amount	$ 750	750	0
Notes 2.30% 2030
Debt Instrument
Debt instrument, interest rate, stated percentage	2.30%
Debt instrument, interest rate, effective percentage	2.69%
Debt instrument, face amount	$ 1,300		1,300		$ 1,300
Notes 4.95% 2034
Debt Instrument
Debt instrument, interest rate, stated percentage	4.95%
Debt instrument, interest rate, effective percentage	5.03%
Debt instrument, face amount	$ 750	$ 750	$ 0
[1] The condensed consolidated balance sheet as of December 1, 2023 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 - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Millions		6 Months Ended
	Apr. 04, 2024	May 31, 2024	Jun. 02, 2023	Dec. 01, 2023		Feb. 03, 2020	Jan. 21, 2015
Debt Instrument
Proceeds from issuance of debt		$ 1,997	$ 0
Carrying value of current debt		$ 1,498		$ 0	[1]
Outstanding Notes
Debt Instrument
Repurchase notes at price of their principal amount plus accrued and unpaid interest		101%
Notes 1.90% 2025
Debt Instrument
Debt instrument, face amount		$ 500		500		$ 500
Notes 3.25% 2025
Debt Instrument
Debt instrument, face amount		1,000		1,000			$ 1,000
Notes 2.15% 2027
Debt Instrument
Debt instrument, face amount		850		850		850
Notes 2.30% 2030
Debt Instrument
Debt instrument, face amount		1,300		1,300		$ 1,300
Notes 4.85% 2027
Debt Instrument
Debt instrument, face amount	$ 500	500		0
Notes 4.80% 2029
Debt Instrument
Debt instrument, face amount	750	750		0
Notes 4.95% 2034
Debt Instrument
Debt instrument, face amount	750	$ 750		$ 0
Notes 4.85% 2027, 4.80% 2029, and 4.95% 2034
Debt Instrument
Proceeds from issuance of debt	1,990
Discount on debt issuance	3
Debt issuance costs	$ 9
[1] The condensed consolidated balance sheet as of December 1, 2023 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 - Additional Information (

Debt - Additional Information (Details) - USD ($)	Sep. 27, 2023	Jun. 30, 2022	Oct. 17, 2018	May 31, 2024	Dec. 17, 2023	Jan. 19, 2023
Commercial Paper
Debt Instrument
Debt instrument, term	397 days
Maximum borrowing capacity	$ 3,000,000,000
Credit agreement, outstanding borrowings				$ 0
Term Loan Agreement
Debt Instrument
Debt instrument, face amount						$ 3,500,000,000
Credit agreement, outstanding borrowings					$ 0
Revolving Credit Facility
Debt Instrument
Debt instrument, term		5 years	5 years
Borrowing capacity		$ 1,500,000,000	$ 1,000,000,000
Option to request additional commitments on credit facility		500,000,000
Maximum borrowing capacity		$ 2,000,000,000
Credit agreement, outstanding borrowings				$ 0
Revolving Credit Facility | Minimum
Debt Instrument
Commitment fee percentage		0.04%
Revolving Credit Facility | Maximum
Debt Instrument
Commitment fee percentage		0.10%
Revolving Credit Facility | Scenario iv
Debt Instrument
Percentage added to effective funds rate in determining interest rate		0.50%
Percentage added to SOFR in determining interest rate		1%
Revolving Credit Facility | Scenario i, Scenario ii, Scenario iii | Minimum
Debt Instrument
Margin added to SOFR and alternative currency rate to determine interest rate		0.46%
Revolving Credit Facility | Scenario i, Scenario ii, Scenario iii | Maximum
Debt Instrument
Margin added to SOFR and alternative currency rate to determine interest rate		0.90%