Adobe (ADBE) 10-Q25 Sep 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares shares in Millions	9 Months Ended
Cover Page - shares shares in Millions	Aug. 30, 2024	Sep. 20, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 30, 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		440.2
Entity Central Index Key	0000796343
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--11-29

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Aug. 30, 2024	Dec. 01, 2023	[1]
Current assets:
Cash and cash equivalents	$ 7,193	$ 7,141
Short-term investments	322	701
Trade receivables, net of allowances for doubtful accounts of $17 and $16, respectively	1,802	2,224
Prepaid expenses and other current assets	1,399	1,018
Total current assets	10,716	11,084
Property and equipment, net	1,969	2,030
Operating lease right-of-use assets, net	368	358
Goodwill	12,814	12,805
Other intangibles, net	858	1,088
Deferred income taxes	1,548	1,191
Other assets	1,557	1,223
Total assets	29,830	29,779
Current liabilities:
Trade payables	318	314
Accrued expenses	1,848	1,942
Debt	1,499	0
Deferred revenue	5,779	5,837
Income taxes payable	130	85
Operating lease liabilities	70	73
Total current liabilities	9,644	8,251
Long-term liabilities:
Debt	4,128	3,634
Deferred revenue	127	113
Income taxes payable	585	514
Operating lease liabilities	381	373
Other liabilities	420	376
Total liabilities	15,285	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; 445 and 455 shares outstanding, respectively	0	0
Additional paid-in capital	13,026	11,586
Retained earnings	36,911	33,346
Accumulated other comprehensive income (loss)	(309)	(285)
Treasury stock, at cost (156 and 146 shares, respectively)	(35,083)	(28,129)
Total stockholders’ equity	14,545	16,518
Total liabilities and stockholders’ equity	$ 29,830	$ 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	Aug. 30, 2024	Dec. 01, 2023
Current assets:
Allowances for doubtful accounts	$ 17	$ 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)	445	455
Treasury stock, shares (in shares)	156	146

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Aug. 30, 2024	Sep. 01, 2023	Aug. 30, 2024	Sep. 01, 2023
Revenue:
Revenue	$ 5,408	$ 4,890	$ 15,899	$ 14,361
Cost of revenue:
Cost of revenue	554	580	1,742	1,720
Gross profit	4,854	4,310	14,157	12,641
Operating expenses:
Research and development	1,022	881	2,945	2,584
Sales and marketing	1,431	1,337	4,228	3,983
General and administrative	366	353	1,073	1,041
Acquisition termination fee	0	0	1,000	0
Amortization of intangibles	43	42	127	126
Total operating expenses	2,862	2,613	9,373	7,734
Operating income	1,992	1,697	4,784	4,907
Non-operating income (expense):
Interest expense	(51)	(27)	(119)	(85)
Investment gains (losses), net	12	6	34	12
Other income (expense), net	89	67	241	157
Total non-operating income (expense), net	50	46	156	84
Income before income taxes	2,042	1,743	4,940	4,991
Provision for income taxes	358	340	1,063	1,046
Net income	$ 1,684	$ 1,403	$ 3,877	$ 3,945
Basic net income per share (in usd per share)	$ 3.78	$ 3.07	$ 8.63	$ 8.62
Shares used to compute basic net income per share (in shares)	445.3	456.4	449.1	457.7
Diluted net income per share (in usd per share)	$ 3.76	$ 3.05	$ 8.58	$ 8.59
Shares used to compute diluted net income per share (in shares)	447.6	459.5	451.8	459.2
Subscription
Revenue:
Revenue	$ 5,180	$ 4,631	$ 15,156	$ 13,521
Cost of revenue:
Cost of revenue	413	447	1,324	1,317
Product
Revenue:
Revenue	82	96	305	346
Cost of revenue:
Cost of revenue	6	7	19	23
Services and other
Revenue:
Revenue	146	163	438	494
Cost of revenue:
Cost of revenue	$ 135	$ 126	$ 399	$ 380

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 30, 2024	Sep. 01, 2023	Aug. 30, 2024	Sep. 01, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 1,684	$ 1,403	$ 3,877	$ 3,945
Other comprehensive income (loss), net of taxes:
Unrealized gains / losses on available-for-sale securities	3	5	10	19
Reclassification adjustment for recognized gains / losses on available-for-sale securities	0	0	0	5
Net increase (decrease) from available-for-sale securities	3	5	10	24
Derivatives designated as hedging instruments:
Unrealized gains / losses on derivative instruments	(60)	8	(59)	0
Reclassification adjustment for realized gains / losses on derivative instruments	1	(4)	9	(28)
Net increase (decrease) from derivatives designated as hedging instruments	(59)	4	(50)	(28)
Foreign currency translation adjustments	23	3	16	12
Other comprehensive income (loss), net of taxes	(33)	12	(24)	8
Total comprehensive income, net of taxes	$ 1,651	$ 1,415	$ 3,853	$ 3,953

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	3,945				3,945
Other comprehensive income (loss), net of taxes	8					8
Re-issuance of treasury stock under stock compensation plans	$ (113)			36	(252)		$ 103
Re-issuance of treasury stock under stock compensation plans (in shares)							4
Repurchase of common stock (in shares)	(9.7)						(10)
Repurchases of common stock	$ (3,407)						$ (3,407)
Stock-based compensation	1,291			1,291
Value of shares in deferred compensation plan	1						1
Ending balances (in shares) at Sep. 01, 2023			601
Ending balances at Sep. 01, 2023	15,776		$ 0	11,195	32,012	(285)	$ (27,146)
Ending balance, treasury stock (in shares) at Sep. 01, 2023							(145)
Beginning balances (in shares) at Jun. 02, 2023			601
Beginning balances at Jun. 02, 2023	14,838		$ 0	10,717	30,609	(297)	$ (26,191)
Beginning balance, treasury stock (in shares) at Jun. 02, 2023							(145)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,403				1,403
Other comprehensive income (loss), net of taxes	12					12
Re-issuance of treasury stock under stock compensation plans	84			36			$ 48
Re-issuance of treasury stock under stock compensation plans (in shares)							2
Repurchase of common stock (in shares)							(2)
Repurchases of common stock	(1,003)						$ (1,003)
Stock-based compensation	442			442
Ending balances (in shares) at Sep. 01, 2023			601
Ending balances at Sep. 01, 2023	15,776		$ 0	11,195	32,012	(285)	$ (27,146)
Ending balance, treasury stock (in shares) at Sep. 01, 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	$ 3,877				3,877
Other comprehensive income (loss), net of taxes	(24)					(24)
Re-issuance of treasury stock under stock compensation plans	$ (164)			48	(312)		$ 100
Re-issuance of treasury stock under stock compensation plans (in shares)							3
Repurchase of common stock (in shares)	(12.9)						(13)
Repurchases of common stock	$ (7,053)						$ (7,053)
Stock-based compensation	1,392			1,392
Value of shares in deferred compensation plan	(1)						(1)
Ending balances (in shares) at Aug. 30, 2024			601
Ending balances at Aug. 30, 2024	$ 14,545		$ 0	13,026	36,911	(309)	$ (35,083)
Ending balance, treasury stock (in shares) at Aug. 30, 2024	(156)						(156)
Beginning balances (in shares) at May. 31, 2024			601
Beginning balances at May. 31, 2024	$ 14,843		$ 0	12,504	35,227	(276)	$ (32,612)
Beginning balance, treasury stock (in shares) at May. 31, 2024							(152)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,684				1,684
Other comprehensive income (loss), net of taxes	(33)					(33)
Re-issuance of treasury stock under stock compensation plans	96			48			$ 48
Re-issuance of treasury stock under stock compensation plans (in shares)							1
Repurchase of common stock (in shares)							(5)
Repurchases of common stock	(2,519)						$ (2,519)
Stock-based compensation	474			474
Ending balances (in shares) at Aug. 30, 2024			601
Ending balances at Aug. 30, 2024	$ 14,545		$ 0	$ 13,026	$ 36,911	$ (309)	$ (35,083)
Ending balance, treasury stock (in shares) at Aug. 30, 2024	(156)						(156)

[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	9 Months Ended
	Aug. 30, 2024	Sep. 01, 2023
Cash flows from operating activities:
Net income	$ 3,877	$ 3,945
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion	639	650
Stock-based compensation	1,392	1,291
Reduction of operating lease right-of-use assets	56	54
Deferred income taxes	(341)	(276)
Unrealized losses (gains) on investments, net	(24)	(7)
Other non-cash items	9	0
Changes in operating assets and liabilities, net of acquired assets and assumed liabilities:
Trade receivables, net	414	217
Prepaid expenses and other assets	(799)	(787)
Trade payables	2	(47)
Accrued expenses and other liabilities	(162)	(153)
Income taxes payable	116	749
Deferred revenue	(44)	69
Net cash provided by operating activities	5,135	5,705
Cash flows from investing activities:
Maturities of short-term investments	379	754
Proceeds from sales of short-term investments	9	215
Purchases of property and equipment	(135)	(313)
Purchases of long-term investments, intangibles and other assets	(125)	(34)
Proceeds from sale of long-term investments and other assets	2	1
Net cash provided by investing activities	130	623
Cash flows from financing activities:
Repurchases of common stock	(7,000)	(3,400)
Proceeds from re-issuance of treasury stock	361	314
Taxes paid related to net share settlement of equity awards	(525)	(387)
Proceeds from issuance of debt	1,997	0
Repayment of debt	0	(500)
Other financing activities, net	(56)	8
Net cash used for financing activities	(5,223)	(3,965)
Effect of foreign currency exchange rates on cash and cash equivalents	10	2
Net change in cash and cash equivalents	52	2,365
Cash and cash equivalents at beginning of period	7,141	4,236
Cash and cash equivalents at end of period	7,193	6,601
Supplemental disclosures:
Cash paid for income taxes, net of refunds	1,389	590
Cash paid for interest	$ 94	$ 103

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Aug. 30, 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 nine months ended August 30, 2024, as compared to the recent accounting pronouncements described in our Annual Report, that are of significance or potential significance to us.

Revenue

Revenue	9 Months Ended
Revenue	Aug. 30, 2024
Revenue [Abstract]
REVENUE	REVENUE Segment Information Our segment results for the three months ended August 30, 2024 and September 1, 2023 were as follows: (dollars in millions) Digital Digital Publishing and Total Three months ended August 30, 2024 Revenue $ 3,995 $ 1,354 $ 59 $ 5,408 Cost of revenue 137 395 22 554 Gross profit $ 3,858 $ 959 $ 37 $ 4,854 Gross profit as a percentage of revenue 97 % 71 % 63 % 90 % Three months ended September 1, 2023 Revenue $ 3,594 $ 1,229 $ 67 $ 4,890 Cost of revenue 161 397 22 580 Gross profit $ 3,433 $ 832 $ 45 $ 4,310 Gross profit as a percentage of revenue 96 % 68 % 67 % 88 % Our segment results for the nine months ended August 30, 2024 and September 1, 2023 were as follows: (dollars in millions) Digital Digital Publishing and Total Nine months ended August 30, 2024 Revenue $ 11,719 $ 3,970 $ 210 $ 15,899 Cost of revenue 489 1,187 66 1,742 Gross profit $ 11,230 $ 2,783 $ 144 $ 14,157 Gross profit as a percentage of revenue 96 % 70 % 69 % 89 % Nine months ended September 1, 2023 Revenue $ 10,500 $ 3,627 $ 234 $ 14,361 Cost of revenue 455 1,200 65 1,720 Gross profit $ 10,045 $ 2,427 $ 169 $ 12,641 Gross profit as a percentage of revenue 96 % 67 % 72 % 88 % Revenue by geographic area for the three and nine months ended August 30, 2024 and September 1, 2023 were as follows: Three Months Nine Months (in millions) 2024 2023 2024 2023 Americas $ 3,241 $ 2,943 $ 9,539 $ 8,601 EMEA 1,405 1,229 4,085 3,615 APAC 762 718 2,275 2,145 Total $ 5,408 $ 4,890 $ 15,899 $ 14,361 Revenue by major offerings in our Digital Media reportable segment for the three and nine months ended August 30, 2024 and September 1, 2023 were as follows: Three Months Nine Months (in millions) 2024 2023 2024 2023 Creative Cloud $ 3,188 $ 2,909 $ 9,380 $ 8,522 Document Cloud 807 685 2,339 1,978 Total Digital Media revenue $ 3,995 $ 3,594 $ 11,719 $ 10,500 Subscription revenue by segment for the three and nine months ended August 30, 2024 and September 1, 2023 were as follows: Three Months Nine Months (in millions) 2024 2023 2024 2023 Digital Media $ 3,921 $ 3,506 $ 11,474 $ 10,225 Digital Experience 1,231 1,096 3,599 3,208 Publishing and Advertising 28 29 83 88 Total subscription revenue $ 5,180 $ 4,631 $ 15,156 $ 13,521 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 August 30, 2024, the balance of trade receivables, net of allowances for doubtful accounts, was $1.80 billion, inclusive of unbilled receivables of $83 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 $17 million and $16 million as of August 30, 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 nine months ended August 30, 2024. Contract assets were $214 million and $141 million as of August 30, 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 August 30, 2024, the balance of deferred revenue was $5.91 billion, which includes $44 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 nine months ended August 30, 2024, approximately $1.07 billion and $5.43 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 August 30, 2024, remaining performance obligations were approximately $18.14 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 69% 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 $717 million and $656 million as of August 30, 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 $107 million and $111 million as of August 30, 2024 and December 1, 2023, respectively.

Acquisitions

Acquisitions	9 Months Ended
Acquisitions	Aug. 30, 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 nine months ended August 30, 2024, and was not tax-deductible for financial statement purposes.

Cash, Cash Equivalents and Shor

Cash, Cash Equivalents and Short-Term Investments	9 Months Ended
Cash, Cash Equivalents and Short-Term Investments	Aug. 30, 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 August 30, 2024: (in millions) Amortized Unrealized Unrealized Estimated Current assets: Cash $ 571 $ — $ — $ 571 Cash equivalents: Money market funds 6,622 — — 6,622 Total cash and cash equivalents 7,193 — — 7,193 Short-term fixed income securities: Asset-backed securities 6 — — 6 Corporate debt securities 146 — (1) 145 U.S. agency securities 13 — — 13 U.S. Treasury securities 159 — (1) 158 Total short-term investments 324 — (2) 322 Total cash, cash equivalents and short-term investments $ 7,517 $ — $ (2) $ 7,515 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 August 30, 2024: (in millions) Estimated Due within one year $ 308 Due between one and two years 14 Total $ 322

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Aug. 30, 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 August 30, 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 $ 6,622 $ 6,622 $ — $ — Short-term investments: Asset-backed securities 6 — 6 — Corporate debt securities 145 — 145 — U.S. agency securities 13 — 13 — U.S. Treasury securities 158 — 158 — Prepaid expenses and other current assets: Foreign currency derivatives 9 — 9 — Other assets: Deferred compensation plan assets 266 266 — — Foreign currency derivatives 1 — 1 — Total assets $ 7,220 $ 6,888 $ 332 $ — Liabilities: Accrued expenses: Foreign currency derivatives $ 42 $ — $ 42 $ — Other liabilities: Foreign currency derivatives 9 — 9 — Total liabilities $ 51 $ — $ 51 $ — 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 $5.53 billion as of August 30, 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	9 Months Ended
Derivative Financial Instruments	Aug. 30, 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 August 30, 2024, we had net derivative losses on our foreign currency cash flow hedges expected to be recognized within the next 36 months, of which $52 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 for the current portion and other assets for the long-term portion, and fair value liability derivatives are included in accrued expenses for the current portion and other liabilities for the long-term portion on our condensed consolidated balance sheets. The fair value of derivative instruments as of August 30, 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 $ 5 $ — $ 42 $ — Foreign exchange forward contracts 3 49 1 — Derivatives not designated as hedging instruments: Foreign exchange forward contracts 2 2 9 4 Total derivatives $ 10 $ 51 $ 52 $ 4 Gains and losses on derivative instruments, net of tax, recognized in our condensed consolidated statements of comprehensive income for the three and nine months ended August 30, 2024 were primarily associated with our foreign exchange forward contracts, for which we recognized $40 million of net losses in both periods. Gains and losses on derivative instruments, net of tax, for the three and nine months ended September 1, 2023 were immaterial. For the three and nine months ended August 30, 2024 and September 1, 2023, the effects of derivative instruments on our condensed consolidated statements of income were immaterial.

Goodwill and Other Intangibles

Goodwill and Other Intangibles	9 Months Ended
Goodwill and Other Intangibles	Aug. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLES	GOODWILL AND OTHER INTANGIBLES Goodwill as of August 30, 2024 and December 1, 2023 was $12.81 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 August 30, 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 $ 1,205 $ (713) $ 492 $ 1,204 $ (619) $ 585 Purchased technology 877 (664) 213 984 (647) 337 Trademarks 376 (250) 126 376 (217) 159 Other 36 (9) 27 22 (15) 7 Other intangibles, net $ 2,494 $ (1,636) $ 858 $ 2,586 $ (1,498) $ 1,088 Amortization expense related to other intangibles was $84 million and $252 million for the three and nine months ended August 30, 2024, respectively. Comparatively, amortization expense related to other intangibles was $92 million and $284 million for the three and nine months ended September 1, 2023, respectively. Of these amounts, $41 million and $125 million were included in cost of revenue for the three and nine months ended August 30, 2024, respectively, and $50 million and $158 million were included in cost of revenue for the three and nine months ended September 1, 2023, respectively. As of August 30, 2024, the estimated aggregate amortization expense in future periods was as follows: (in millions) Fiscal Year Other Intangibles (1) Remainder of 2024 $ 83 2025 303 2026 151 2027 109 2028 66 Thereafter 126 Total expected amortization expense $ 838 _________________________________________ (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	9 Months Ended
Accrued Expenses	Aug. 30, 2024
Payables and Accruals [Abstract]
ACCRUED EXPENSES	ACCRUED EXPENSES Accrued expenses as of August 30, 2024 and December 1, 2023 consisted of the following: (in millions) 2024 2023 Accrued compensation and benefits $ 504 $ 535 Accrued bonuses 447 547 Accrued corporate marketing 149 132 Sales and use taxes 111 122 Refund liabilities 107 111 Other 530 495 Accrued expenses $ 1,848 $ 1,942 Other primarily includes general business accruals, accrued hosting fees, royalties payable and accrued interest expense.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
Stock-Based Compensation	Aug. 30, 2024
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Restricted Stock Units Restricted stock unit activity for the nine months ended August 30, 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 2.9 $ 586.20 Released (2.6) $ 441.45 Forfeited (0.4) $ 449.34 Ending outstanding balance 7.7 $ 472.50 $ 4,436 Expected to vest 7.1 $ 471.45 $ 4,100 _________________________________________ (1) The aggregate fair value is calculated using the closing stock price as of August 30, 2024 of $574.41. The total fair value of restricted stock units vested during the nine months ended August 30, 2024 was $1.42 billion. 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 August 30, 2024, the performance shares awarded under our 2024, 2023 and 2022 Performance Share Programs remained outstanding and unvested. Performance share activity for the nine months ended August 30, 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) $ 487.20 Ending outstanding balance 0.5 $ 536.74 $ 301 Expected to vest 0.5 $ 534.50 $ 277 _________________________________________ (1) The aggregate fair value is calculated using the closing stock price as of August 30, 2024 of $574.41. 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 nine months ended August 30, 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 nine months ended August 30, 2024 was $63 million. Employee Stock Purchase Plan Shares Employees purchased 1.2 million shares at an average price of $298.53 and 1.1 million shares at an average price of $286.31 for the nine months ended August 30, 2024 and September 1, 2023, respectively. The intrinsic value of shares purchased during the nine months ended August 30, 2024 and September 1, 2023 was $324 million and $185 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 August 30, 2024, there was $3.28 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 2.32 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 nine months ended August 30, 2024 and September 1, 2023 were as follows: Three Months Nine Months (in millions) 2024 2023 2024 2023 Cost of revenue $ 30 $ 30 $ 90 $ 88 Research and development 241 224 704 657 Sales and marketing 140 130 403 375 General and administrative 63 58 195 171 Total $ 474 $ 442 $ 1,392 $ 1,291

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
Accumulated Other Comprehensive Income (Loss)	Aug. 30, 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 August 30, Net unrealized gains / losses on available-for-sale securities $ (12) $ 10 $ — (1) $ (2) Net unrealized gains / losses on derivative instruments designated as hedging instruments (26) (59) 9 (2) (76) Cumulative foreign currency translation adjustments (247) 16 — (231) Total accumulated other comprehensive income (loss), net of taxes $ (285) $ (33) $ 9 $ (309) _________________________________________ (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 nine months ended August 30, 2024 and September 1, 2023 were immaterial.

Stock Repurchase Program

Stock Repurchase Program	9 Months Ended
Stock Repurchase Program	Aug. 30, 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 nine months ended August 30, 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 nine months ended August 30, 2024 and September 1, 2023, we entered into accelerated share repurchase agreements (“ASRs”) with large financial institutions whereupon we provided them with prepayments totaling $7 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 nine months ended September 1, 2023, we also entered into structured stock repurchase agreements with a large financial institution whereupon we provided them with prepayments totaling $2 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 nine months ended August 30, 2024 and September 1, 2023 was as follows: Number of Shares Delivered (in millions) Average Price Paid Per Share Nine months ended August 30, 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 5.2 $ 475.94 ASR entered into in June 2024 3.6 $ — (1) Total shares delivered 12.9 Nine months ended September 1, 2023 Structured stock repurchase agreements entered into in fiscal 2022 and the nine months ended September 1, 2023 5.7 $ 396.43 ASR entered into in December 2022 4.0 $ 348.46 Total shares delivered 9.7 _________________________________________ (1) During the nine months ended August 30, 2024, we received the initial delivery of shares under the ASR entered into in June 2024, which remained outstanding as of August 30, 2024. Subsequent to August 30, 2024, the outstanding ASR was settled which resulted in total repurchases of 4.6 million shares at an average price of $546.30. 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 August 30, 2024, a portion of the $2.5 billion prepayment under the ASR entered into in June 2024 was evaluated as an unsettled forward contract indexed to our own stock, classified within stockholders’ equity. Subsequent to August 30, 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, $17.65 billion remains under our March 2024 stock repurchase authority.

Net Income Per Share

Net Income Per Share	9 Months Ended
Net Income Per Share	Aug. 30, 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 nine months ended August 30, 2024 and September 1, 2023: Three Months Nine Months (in millions, except per share data) 2024 2023 2024 2023 Net income $ 1,684 $ 1,403 $ 3,877 $ 3,945 Shares used to compute basic net income per share 445.3 456.4 449.1 457.7 Dilutive potential common shares from stock plans and programs 2.3 3.1 2.7 1.5 Shares used to compute diluted net income per share 447.6 459.5 451.8 459.2 Basic net income per share $ 3.78 $ 3.07 $ 8.63 $ 8.62 Diluted net income per share $ 3.76 $ 3.05 $ 8.58 $ 8.59 Anti-dilutive potential common shares 2.0 0.5 1.8 3.5

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Aug. 30, 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 August 30, 2024, accrued provisions for legal proceedings were immaterial. 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	9 Months Ended
Debt	Aug. 30, 2024
Debt Disclosure [Abstract]
DEBT	DEBT The carrying value of our borrowings as of August 30, 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 (22) (16) Carrying value of long-term debt $ 4,128 $ 3,634 Current portion of debt, at par $ 1,500 $ — Unamortized discount and debt issuance costs (1) — Carrying value of current debt $ 1,499 $ — 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 were 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 August 30, 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 August 30, 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 August 30, 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 nine months ended August 30, 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		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Aug. 30, 2024	Sep. 01, 2023	Aug. 30, 2024	Sep. 01, 2023
Pay vs Performance Disclosure
Net income	$ 1,684	$ 1,403	$ 3,877	$ 3,945

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Aug. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Director Trading Arrangement [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	The following table shows the trading arrangements intended to satisfy the affirmative defense of Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, adopted by our Section 16 officers and directors during the three months ended August 30, 2024. Name and Position Adoption Date Total Number of Shares to be Sold Expiration Date Amy Banse 8/2/2024 Up to 5,779 9/30/2025 Director
Director Trading Arrangement [Member] \| Amy Banse [Member]
Trading Arrangements, by Individual
Name	Amy Banse
Title	Director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	8/2/2024
Expiration Date	9/30/2025
Arrangement Duration	424 days
Aggregate Available	5,779

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Aug. 30, 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 nine months ended August 30, 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)	9 Months Ended
Revenue (Tables)	Aug. 30, 2024
Revenue [Abstract]
Disaggregation of Revenue	Segment Information Our segment results for the three months ended August 30, 2024 and September 1, 2023 were as follows: (dollars in millions) Digital Digital Publishing and Total Three months ended August 30, 2024 Revenue $ 3,995 $ 1,354 $ 59 $ 5,408 Cost of revenue 137 395 22 554 Gross profit $ 3,858 $ 959 $ 37 $ 4,854 Gross profit as a percentage of revenue 97 % 71 % 63 % 90 % Three months ended September 1, 2023 Revenue $ 3,594 $ 1,229 $ 67 $ 4,890 Cost of revenue 161 397 22 580 Gross profit $ 3,433 $ 832 $ 45 $ 4,310 Gross profit as a percentage of revenue 96 % 68 % 67 % 88 % Our segment results for the nine months ended August 30, 2024 and September 1, 2023 were as follows: (dollars in millions) Digital Digital Publishing and Total Nine months ended August 30, 2024 Revenue $ 11,719 $ 3,970 $ 210 $ 15,899 Cost of revenue 489 1,187 66 1,742 Gross profit $ 11,230 $ 2,783 $ 144 $ 14,157 Gross profit as a percentage of revenue 96 % 70 % 69 % 89 % Nine months ended September 1, 2023 Revenue $ 10,500 $ 3,627 $ 234 $ 14,361 Cost of revenue 455 1,200 65 1,720 Gross profit $ 10,045 $ 2,427 $ 169 $ 12,641 Gross profit as a percentage of revenue 96 % 67 % 72 % 88 % Revenue by geographic area for the three and nine months ended August 30, 2024 and September 1, 2023 were as follows: Three Months Nine Months (in millions) 2024 2023 2024 2023 Americas $ 3,241 $ 2,943 $ 9,539 $ 8,601 EMEA 1,405 1,229 4,085 3,615 APAC 762 718 2,275 2,145 Total $ 5,408 $ 4,890 $ 15,899 $ 14,361 Revenue by major offerings in our Digital Media reportable segment for the three and nine months ended August 30, 2024 and September 1, 2023 were as follows: Three Months Nine Months (in millions) 2024 2023 2024 2023 Creative Cloud $ 3,188 $ 2,909 $ 9,380 $ 8,522 Document Cloud 807 685 2,339 1,978 Total Digital Media revenue $ 3,995 $ 3,594 $ 11,719 $ 10,500 Subscription revenue by segment for the three and nine months ended August 30, 2024 and September 1, 2023 were as follows: Three Months Nine Months (in millions) 2024 2023 2024 2023 Digital Media $ 3,921 $ 3,506 $ 11,474 $ 10,225 Digital Experience 1,231 1,096 3,599 3,208 Publishing and Advertising 28 29 83 88 Total subscription revenue $ 5,180 $ 4,631 $ 15,156 $ 13,521

Cash, Cash Equivalents and Sh_2

Cash, Cash Equivalents and Short-Term Investments (Tables)	9 Months Ended
Cash, Cash Equivalents and Short-Term Investments (Tables)	Aug. 30, 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 August 30, 2024: (in millions) Amortized Unrealized Unrealized Estimated Current assets: Cash $ 571 $ — $ — $ 571 Cash equivalents: Money market funds 6,622 — — 6,622 Total cash and cash equivalents 7,193 — — 7,193 Short-term fixed income securities: Asset-backed securities 6 — — 6 Corporate debt securities 146 — (1) 145 U.S. agency securities 13 — — 13 U.S. Treasury securities 159 — (1) 158 Total short-term investments 324 — (2) 322 Total cash, cash equivalents and short-term investments $ 7,517 $ — $ (2) $ 7,515 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 August 30, 2024: (in millions) Estimated Due within one year $ 308 Due between one and two years 14 Total $ 322

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Aug. 30, 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 August 30, 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 $ 6,622 $ 6,622 $ — $ — Short-term investments: Asset-backed securities 6 — 6 — Corporate debt securities 145 — 145 — U.S. agency securities 13 — 13 — U.S. Treasury securities 158 — 158 — Prepaid expenses and other current assets: Foreign currency derivatives 9 — 9 — Other assets: Deferred compensation plan assets 266 266 — — Foreign currency derivatives 1 — 1 — Total assets $ 7,220 $ 6,888 $ 332 $ — Liabilities: Accrued expenses: Foreign currency derivatives $ 42 $ — $ 42 $ — Other liabilities: Foreign currency derivatives 9 — 9 — Total liabilities $ 51 $ — $ 51 $ — 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)	9 Months Ended
Derivative Financial Instruments (Tables)	Aug. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivative Instruments	The fair value of derivative instruments as of August 30, 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 $ 5 $ — $ 42 $ — Foreign exchange forward contracts 3 49 1 — Derivatives not designated as hedging instruments: Foreign exchange forward contracts 2 2 9 4 Total derivatives $ 10 $ 51 $ 52 $ 4

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	9 Months Ended
Goodwill and Other Intangibles (Tables)	Aug. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Other intangible assets	Other intangible assets subject to amortization as of August 30, 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 $ 1,205 $ (713) $ 492 $ 1,204 $ (619) $ 585 Purchased technology 877 (664) 213 984 (647) 337 Trademarks 376 (250) 126 376 (217) 159 Other 36 (9) 27 22 (15) 7 Other intangibles, net $ 2,494 $ (1,636) $ 858 $ 2,586 $ (1,498) $ 1,088
Amortization expense in future periods	As of August 30, 2024, the estimated aggregate amortization expense in future periods was as follows: (in millions) Fiscal Year Other Intangibles (1) Remainder of 2024 $ 83 2025 303 2026 151 2027 109 2028 66 Thereafter 126 Total expected amortization expense $ 838 _________________________________________ (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)	9 Months Ended
Accrued Expenses (Tables)	Aug. 30, 2024
Payables and Accruals [Abstract]
Accrued Expenses	Accrued expenses as of August 30, 2024 and December 1, 2023 consisted of the following: (in millions) 2024 2023 Accrued compensation and benefits $ 504 $ 535 Accrued bonuses 447 547 Accrued corporate marketing 149 132 Sales and use taxes 111 122 Refund liabilities 107 111 Other 530 495 Accrued expenses $ 1,848 $ 1,942

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
Stock-Based Compensation (Tables)	Aug. 30, 2024
Share-Based Payment Arrangement [Abstract]
Restricted Stock Unit Activity	Restricted stock unit activity for the nine months ended August 30, 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 2.9 $ 586.20 Released (2.6) $ 441.45 Forfeited (0.4) $ 449.34 Ending outstanding balance 7.7 $ 472.50 $ 4,436 Expected to vest 7.1 $ 471.45 $ 4,100 _________________________________________ (1)
Performance Share Activity	Performance share activity for the nine months ended August 30, 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) $ 487.20 Ending outstanding balance 0.5 $ 536.74 $ 301 Expected to vest 0.5 $ 534.50 $ 277 _________________________________________ (1)
Stock-Based Compensation, Income Statement Location	Total stock-based compensation costs included in our condensed consolidated statements of income for the three and nine months ended August 30, 2024 and September 1, 2023 were as follows: Three Months Nine Months (in millions) 2024 2023 2024 2023 Cost of revenue $ 30 $ 30 $ 90 $ 88 Research and development 241 224 704 657 Sales and marketing 140 130 403 375 General and administrative 63 58 195 171 Total $ 474 $ 442 $ 1,392 $ 1,291

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Aug. 30, 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 August 30, Net unrealized gains / losses on available-for-sale securities $ (12) $ 10 $ — (1) $ (2) Net unrealized gains / losses on derivative instruments designated as hedging instruments (26) (59) 9 (2) (76) Cumulative foreign currency translation adjustments (247) 16 — (231) Total accumulated other comprehensive income (loss), net of taxes $ (285) $ (33) $ 9 $ (309) _________________________________________ (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)	9 Months Ended
Stock Repurchase Program (Tables)	Aug. 30, 2024
Stock Repurchase Program [Abstract]
Schedule of Repurchase Agreements	Share repurchase activity for the nine months ended August 30, 2024 and September 1, 2023 was as follows: Number of Shares Delivered (in millions) Average Price Paid Per Share Nine months ended August 30, 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 5.2 $ 475.94 ASR entered into in June 2024 3.6 $ — (1) Total shares delivered 12.9 Nine months ended September 1, 2023 Structured stock repurchase agreements entered into in fiscal 2022 and the nine months ended September 1, 2023 5.7 $ 396.43 ASR entered into in December 2022 4.0 $ 348.46 Total shares delivered 9.7 _________________________________________ (1) During the nine months ended August 30, 2024, we received the initial delivery of shares under the ASR entered into in June 2024, which remained outstanding as of August 30, 2024. Subsequent to August 30, 2024, the outstanding ASR was settled which resulted in total repurchases of 4.6 million shares at an average price of $546.30.

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
Net Income Per Share (Tables)	Aug. 30, 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 nine months ended August 30, 2024 and September 1, 2023: Three Months Nine Months (in millions, except per share data) 2024 2023 2024 2023 Net income $ 1,684 $ 1,403 $ 3,877 $ 3,945 Shares used to compute basic net income per share 445.3 456.4 449.1 457.7 Dilutive potential common shares from stock plans and programs 2.3 3.1 2.7 1.5 Shares used to compute diluted net income per share 447.6 459.5 451.8 459.2 Basic net income per share $ 3.78 $ 3.07 $ 8.63 $ 8.62 Diluted net income per share $ 3.76 $ 3.05 $ 8.58 $ 8.59 Anti-dilutive potential common shares 2.0 0.5 1.8 3.5

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	Aug. 30, 2024
Debt Disclosure [Abstract]
Carrying value of outstanding debt	The carrying value of our borrowings as of August 30, 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 (22) (16) Carrying value of long-term debt $ 4,128 $ 3,634 Current portion of debt, at par $ 1,500 $ — Unamortized discount and debt issuance costs (1) — Carrying value of current debt $ 1,499 $ —

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 30, 2024	Sep. 01, 2023	Aug. 30, 2024	Sep. 01, 2023
Segment Reporting Information
Revenue	$ 5,408	$ 4,890	$ 15,899	$ 14,361
Cost of revenue	554	580	1,742	1,720
Gross profit	$ 4,854	$ 4,310	$ 14,157	$ 12,641
Gross profit as a percentage of revenue	90%	88%	89%	88%
Digital Media
Segment Reporting Information
Revenue	$ 3,995	$ 3,594	$ 11,719	$ 10,500
Cost of revenue	137	161	489	455
Gross profit	$ 3,858	$ 3,433	$ 11,230	$ 10,045
Gross profit as a percentage of revenue	97%	96%	96%	96%
Digital Experience
Segment Reporting Information
Revenue	$ 1,354	$ 1,229	$ 3,970	$ 3,627
Cost of revenue	395	397	1,187	1,200
Gross profit	$ 959	$ 832	$ 2,783	$ 2,427
Gross profit as a percentage of revenue	71%	68%	70%	67%
Publishing and Advertising
Segment Reporting Information
Revenue	$ 59	$ 67	$ 210	$ 234
Cost of revenue	22	22	66	65
Gross profit	$ 37	$ 45	$ 144	$ 169
Gross profit as a percentage of revenue	63%	67%	69%	72%

Revenue - Disaggregation of R_2

Revenue - Disaggregation of Revenue by Geography (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 30, 2024	Sep. 01, 2023	Aug. 30, 2024	Sep. 01, 2023
Revenue
Revenue	$ 5,408	$ 4,890	$ 15,899	$ 14,361
Americas
Revenue
Revenue	3,241	2,943	9,539	8,601
EMEA
Revenue
Revenue	1,405	1,229	4,085	3,615
APAC
Revenue
Revenue	$ 762	$ 718	$ 2,275	$ 2,145

Revenue - Disaggregation of Dig

Revenue - Disaggregation of Digital Media Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 30, 2024	Sep. 01, 2023	Aug. 30, 2024	Sep. 01, 2023
Revenue
Revenue	$ 5,408	$ 4,890	$ 15,899	$ 14,361
Digital Media
Revenue
Creative Cloud	3,188	2,909	9,380	8,522
Document Cloud	807	685	2,339	1,978
Revenue	$ 3,995	$ 3,594	$ 11,719	$ 10,500

Revenue - Disaggregation of Sub

Revenue - Disaggregation of Subscription Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 30, 2024	Sep. 01, 2023	Aug. 30, 2024	Sep. 01, 2023
Disaggregation of Revenue
Revenue	$ 5,408	$ 4,890	$ 15,899	$ 14,361
Digital Media
Disaggregation of Revenue
Revenue	3,995	3,594	11,719	10,500
Digital Experience
Disaggregation of Revenue
Revenue	1,354	1,229	3,970	3,627
Publishing and Advertising
Disaggregation of Revenue
Revenue	59	67	210	234
Subscription
Disaggregation of Revenue
Revenue	5,180	4,631	15,156	13,521
Subscription \| Digital Media
Disaggregation of Revenue
Revenue	3,921	3,506	11,474	10,225
Subscription \| Digital Experience
Disaggregation of Revenue
Revenue	1,231	1,096	3,599	3,208
Subscription \| Publishing and Advertising
Disaggregation of Revenue
Revenue	$ 28	$ 29	$ 83	$ 88

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Aug. 30, 2024	Aug. 30, 2024	Dec. 01, 2023
Disaggregation of Revenue
Trade receivables, net of allowances for doubtful accounts	$ 1,802	$ 1,802	$ 2,224	[1]
Unbilled receivables included in balance of trade receivables, net	83	83	80
Allowances for doubtful accounts	(17)	(17)	(16)
Contract assets	214	214	141
Deferred revenue	$ 5,910	$ 5,910	5,950
Non-cancellable committed funds, deferred revenue, percentage	4%	4%
Revenue recognized that was included in the beginning balance of deferred revenue	$ 1,070	$ 5,430
Remaining performance obligations	$ 18,140	$ 18,140
Non-cancellable committed funds, remaining performance obligation, percentage	4%	4%
Percent of remaining performance obligations expected to be recognized in next 12 months	69%	69%
Capitalized contract acquisition costs	$ 717	$ 717	656
Refund liabilities	107	107	$ 111
Refundable customer deposits
Disaggregation of Revenue
Deferred revenue	$ 44	$ 44

[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	Aug. 30, 2024	Dec. 01, 2023
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	$ 7,517	$ 7,854
Unrealized gains	0	0
Unrealized losses	(2)	(12)
Estimated fair value	7,515	7,842
Cash \| Cash
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	571	618
Unrealized gains	0	0
Unrealized losses	0	0
Estimated fair value	571	618
Total cash equivalents \| Money market funds
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	6,622	6,498
Unrealized gains	0	0
Unrealized losses	0	0
Estimated fair value	6,622	6,498
Total cash equivalents \| Time deposits
Debt Securities, Available-for-Sale [Line Items]
Amortized cost		25
Unrealized gains		0
Unrealized losses		0
Estimated fair value		25
Total cash equivalents \| Total cash equivalents
Debt Securities, Available-for-Sale [Line Items]
Amortized cost		6,523
Unrealized gains		0
Unrealized losses		0
Estimated fair value		6,523
Total cash and cash equivalents \| Total cash and cash equivalents
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	7,193	7,141
Unrealized gains	0	0
Unrealized losses	0	0
Estimated fair value	7,193	7,141
Short-term fixed income securities: \| Asset-backed securities
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	6	15
Unrealized gains	0	0
Unrealized losses	0	0
Estimated fair value	6	15
Short-term fixed income securities: \| Corporate debt securities
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	146	438
Unrealized gains	0	0
Unrealized losses	(1)	(4)
Estimated fair value	145	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	159	247
Unrealized gains	0	0
Unrealized losses	(1)	(7)
Estimated fair value	158	240
Total short-term investments \| Total short-term investments
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	324	713
Unrealized gains	0	0
Unrealized losses	(2)	(12)
Estimated fair value	$ 322	$ 701

Cash, Cash Equivalents and Sh_4

Cash, Cash Equivalents and Short-Term Investments - Estimated Fair Value (Details) $ in Millions	Aug. 30, 2024 USD ($)
Estimated fair value of short-term fixed income securities
Due within one year	$ 308
Due between one and two years	14
Total	$ 322

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	Aug. 30, 2024	Dec. 01, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Deferred compensation plan assets	$ 266	$ 206
Total assets	7,220	7,482
Total liabilities	51
Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and cash equivalents	6,622	6,498
Time deposits
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and cash equivalents		25
Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments:	6	15
Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments:	145	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:	158	240
Foreign currency derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Foreign currency derivatives, asset, current	9	52
Foreign currency derivatives, asset, long-term	1
Foreign currency derivatives, liability, current	42	4
Foreign currency derivatives, liability, long-term	9
Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Deferred compensation plan assets	266	206
Total assets	6,888	6,729
Total liabilities	0
Fair Value, Inputs, Level 1 \| Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and cash equivalents	6,622	6,498
Fair Value, Inputs, Level 1 \| Time deposits
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and cash equivalents		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, current	0	0
Foreign currency derivatives, asset, long-term	0
Foreign currency derivatives, liability, current	0	0
Foreign currency derivatives, liability, long-term	0
Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Deferred compensation plan assets	0	0
Total assets	332	753
Total liabilities	51
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
Fair Value, Inputs, Level 2 \| Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments:	6	15
Fair Value, Inputs, Level 2 \| Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments:	145	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:	158	240
Fair Value, Inputs, Level 2 \| Foreign currency derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Foreign currency derivatives, asset, current	9	52
Foreign currency derivatives, asset, long-term	1
Foreign currency derivatives, liability, current	42	4
Foreign currency derivatives, liability, long-term	9
Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Deferred compensation plan assets	0	0
Total assets	0	0
Total liabilities	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
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, current	0	0
Foreign currency derivatives, asset, long-term	0
Foreign currency derivatives, liability, current	0	$ 0
Foreign currency derivatives, liability, long-term	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) $ in Millions	Aug. 30, 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	$ 5,530

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Aug. 30, 2024	Aug. 30, 2024	Sep. 01, 2023	Aug. 30, 2024	Sep. 01, 2023
Derivatives and Hedging
Net unrealized gains / losses on derivative instruments designated as hedging instruments, increase or decrease		$ (60)	$ 8	$ (59)	$ 0
Foreign Exchange Contract \| Cash Flow Hedging
Derivatives and Hedging
Maximum remaining maturity of foreign currency derivatives	24 months
Designated as Hedging Instrument \| Foreign Exchange Contract \| Cash Flow Hedging
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	$ (52)	(52)		(52)
Designated as Hedging Instrument \| Foreign exchange forward contracts \| Cash Flow Hedging
Derivatives and Hedging
Net unrealized gains / losses on derivative instruments designated as hedging instruments, increase or decrease		$ (40)	$ 0	$ (40)	$ 0

Derivative Financial Instrume_4

Derivative Financial Instruments - Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions	Aug. 30, 2024	Dec. 01, 2023
Derivative, Fair Value, Net
Fair Value Asset Derivatives	$ 10	$ 52
Fair Value Liability Derivatives	51	4
Designated as Hedging Instrument \| Foreign exchange option contracts
Derivative, Fair Value, Net
Fair Value Asset Derivatives	5	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	49	0
Derivatives not designated as hedging instruments \| Foreign exchange forward contracts
Derivative, Fair Value, Net
Fair Value Asset Derivatives	2	9
Fair Value Liability Derivatives	$ 2	$ 4

Goodwill and Other Intangible_2

Goodwill and Other Intangibles - Additional Information (Details) - USD ($)	3 Months Ended			9 Months Ended
	Aug. 30, 2024	May 31, 2024	Sep. 01, 2023	Aug. 30, 2024	Sep. 01, 2023	Dec. 01, 2023	[1]
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 12,814,000,000			$ 12,814,000,000		$ 12,805,000,000
Goodwill, impairment		$ 0
Amortization of other intangible assets	84,000,000		$ 92,000,000	252,000,000	$ 284,000,000
Amortization included in cost of revenue	$ 41,000,000		$ 50,000,000	$ 125,000,000	$ 158,000,000

[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	Aug. 30, 2024	Dec. 01, 2023
Finite-Lived Intangible Assets
Gross Carrying Amount	$ 2,494	$ 2,586
Accumulated Amortization	(1,636)	(1,498)
Net	858	1,088
Customer contracts and relationships
Finite-Lived Intangible Assets
Gross Carrying Amount	1,205	1,204
Accumulated Amortization	(713)	(619)
Net	492	585
Purchased technology
Finite-Lived Intangible Assets
Gross Carrying Amount	877	984
Accumulated Amortization	(664)	(647)
Net	213	337
Trademarks
Finite-Lived Intangible Assets
Gross Carrying Amount	376	376
Accumulated Amortization	(250)	(217)
Net	126	159
Other
Finite-Lived Intangible Assets
Gross Carrying Amount	36	22
Accumulated Amortization	(9)	(15)
Net	$ 27	$ 7

Goodwill and Other Intangible_4

Goodwill and Other Intangibles - Amortization Expense In Future Period (Details) - Other intangibles $ in Millions	Aug. 30, 2024 USD ($)
Amortization Expense in Future Periods
Remainder of 2024	$ 83
2025	303
2026	151
2027	109
2028	66
Thereafter	126
Total expected amortization expense	$ 838

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Millions	Aug. 30, 2024	Dec. 01, 2023
Accrued Expense
Accrued compensation and benefits	$ 504	$ 535
Accrued bonuses	447	547
Accrued corporate marketing	149	132
Sales and use taxes	111	122
Refund liabilities	107	111
Other	530	495
Accrued expenses	$ 1,848	$ 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	9 Months Ended
	Aug. 30, 2024 USD ($) $ / shares shares
Other
Share price (in usd per share)	$ 574.41
Restricted Stock Units
Share Activity
Beginning outstanding balance (in shares) \| shares	7.8
Awarded (in shares) \| shares	2.9
Released (in shares) \| shares	(2.6)
Forfeited (in shares) \| shares	(0.4)
Ending outstanding balance (in shares) \| shares	7.7
Expected to vest (in shares) \| shares	7.1
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)	586.20
Released, weighted average grant date fair value (in usd per share)	441.45
Forfeited, weighted average grant date fair value (in usd per share)	449.34
Ending outstanding balance, weighted average grant date fair value (in usd per share)	472.50
Expected to vest, weighted average grant date fair value (in usd per share)	$ 471.45
Aggregate Fair Value
Ending outstanding balance, aggregate fair value \| $	$ 4,436
Expected to vest, aggregate fair value \| $	4,100
Other
Total fair value of restricted stock units vested \| $	$ 1,420

Stock-Based Compensation - Perf

Stock-Based Compensation - Performance Share Activity (Details) $ / shares in Units, shares in Millions, $ in Millions	9 Months Ended
	Aug. 30, 2024 USD ($) $ / shares shares
Other
Share price (in usd per share)	$ 574.41
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)	487.20
Ending outstanding balance, weighted average grant date fair value (in usd per share)	536.74
Expected to vest, weighted average grant date fair value (in usd per share)	$ 534.50
Aggregate Fair Value
Ending outstanding balance, aggregate fair value \| $	$ 301
Expected to vest, aggregate fair value \| $	$ 277
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	9 Months Ended
	Aug. 30, 2024	Sep. 01, 2023
Share-based Compensation Arrangement by Share-based Payment Award
Shares purchased, ESPP	1.2	1.1
Average purchase price of shares, ESPP ( in usd per share)	$ 298.53	$ 286.31
Total intrinsic value of shares purchased, ESPP	$ 324	$ 185

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Compensation, Income Statement Location (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 30, 2024	Sep. 01, 2023	Aug. 30, 2024	Sep. 01, 2023
Total stock-based compensation costs
Stock-based compensation costs	$ 474	$ 442	$ 1,392	$ 1,291
Cost of revenue
Total stock-based compensation costs
Stock-based compensation costs	30	30	90	88
Research and development
Total stock-based compensation costs
Stock-based compensation costs	241	224	704	657
Sales and marketing
Total stock-based compensation costs
Stock-based compensation costs	140	130	403	375
General and administrative
Total stock-based compensation costs
Stock-based compensation costs	$ 63	$ 58	$ 195	$ 171

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) $ in Millions	Aug. 30, 2024 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award
Unrecognized compensation cost, non-vested awards	$ 3,280
Period for recognition, unrecognized compensation cost	2 years 3 months 25 days

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Aug. 30, 2024	Sep. 01, 2023	Aug. 30, 2024	Sep. 01, 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	$ 5	10	$ 19
Net unrecognized gains / losses on available-for-sale securities, reclassification adjustments		0	0	0	5
Ending balance, net unrealized gains / losses on available-for-sale securities		(2)		(2)
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		(60)	8	(59)	0
Net unrealized gains / losses on derivative instruments designated as hedging instruments, reclassification adjustments		1	(4)	9	(28)
Ending balance, net unrealized gains / losses on derivative instruments designated as hedging instruments		(76)		(76)
Cumulative foreign currency translation adjustments
Beginning balance, cumulative foreign currency translation adjustments				(247)
Cumulative foreign currency translation adjustment, increase or decrease		23	$ 3	16	$ 12
Cumulative foreign currency translation adjustment, reclassification adjustments				0
Ending balance, cumulative foreign currency translation adjustments		(231)		(231)
Accumulated other comprehensive income totals
Beginning balance, total accumulated other comprehensive income, net of taxes	[1]			(285)
Accumulated other comprehensive income, increase or decrease				(33)
Accumulated other comprehensive income, reclassification adjustments				9
Ending balance, total accumulated other comprehensive income, net of taxes		$ (309)		$ (309)

[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	9 Months Ended
	Sep. 25, 2024 USD ($) shares	Aug. 30, 2024 USD ($) shares	Sep. 01, 2023 USD ($) shares	Mar. 14, 2024 USD ($)	Dec. 10, 2020 USD ($)
Stock Repurchase Program [Line Items]
Payments for repurchase of common stock		$ 7,000	$ 3,400
Repurchase of common stock, shares, acquired (in shares) \| shares		12.9	9.7
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	$ 17,650
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		$ 7,000	$ 1,400
Structured Stock Repurchase Agreement
Stock Repurchase Program [Line Items]
Payments for repurchase of common stock			$ 2,000
Repurchase of common stock, shares, acquired (in shares) \| shares		0.6	5.7
ASR entered into in June 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 June 2024 \| Subsequent Event
Stock Repurchase Program [Line Items]
Repurchase of common stock, shares, acquired (in shares) \| shares	4.6

Stock Repurchase Program - Sche

Stock Repurchase Program - Schedule of Repurchase Agreements (Details) - $ / shares shares in Millions	1 Months Ended	9 Months Ended
	Sep. 25, 2024	Aug. 30, 2024	Sep. 01, 2023
Stock Repurchase Program [Line Items]
Repurchase of common stock, shares, acquired (in shares)		12.9	9.7
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	5.7
Treasury stock acquired, average cost per share (in usd per share)		$ 626.68	$ 396.43
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
March 2024 Accelerated Share Repurchase Agreement [Member]
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
ASR entered into in June 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 June 2024 \| Subsequent Event
Stock Repurchase Program [Line Items]
Repurchase of common stock, shares, acquired (in shares)	4.6
Treasury stock acquired, average cost per share (in usd per share)	$ 546.30

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Aug. 30, 2024	Sep. 01, 2023	Aug. 30, 2024	Sep. 01, 2023
Earnings Per Share [Abstract]
Net income	$ 1,684	$ 1,403	$ 3,877	$ 3,945
Shares used to compute basic net income per share (in shares)	445.3	456.4	449.1	457.7
Dilutive potential common shares from stock plans and programs (in shares)	2.3	3.1	2.7	1.5
Shares used to compute diluted net income per share (in shares)	447.6	459.5	451.8	459.2
Basic net income per share (in usd per share)	$ 3.78	$ 3.07	$ 8.63	$ 8.62
Diluted net income per share (in usd per share)	$ 3.76	$ 3.05	$ 8.58	$ 8.59
Anti-dilutive potential common shares (in shares)	2	0.5	1.8	3.5

Debt - Carrying Value of Outsta

Debt - Carrying Value of Outstanding Debt (Details) - USD ($) $ in Millions	Aug. 30, 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	(22)		(16)
Carrying value of long-term debt	4,128		3,634	[1]
Unamortized discount and debt issuance costs	(1)		0
Carrying value of current debt	$ 1,499		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		9 Months Ended
Debt - Narrative (Details) - USD ($) $ in Millions	Apr. 04, 2024	Aug. 30, 2024	Sep. 01, 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		$ 1,499		$ 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	Aug. 30, 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%