Item 3. Quantitative and Qualitative Disclosures About Market Risk.

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Item 3. Quantitative and Qualitative Disclosures About Market Risk.

The estimated maximum potential value-at-risk arising from a one-day loss in fair value for our interest rate, foreign exchange, commodity, and equity market-risk-sensitive instruments outstanding as of November 28, 2021, was as follows:

In Millions		One-day Loss in Fair Value		Change During Six-Month Period Ended Nov. 28, 2021	Analysis of Change
Interest rate instruments	$	39	$	2	Immaterial
Foreign currency instruments		14		(12)	Lower Exchange Rate Volatility
Commodity instruments		11		7	Larger Portfolio & Higher Market Volatility
Equity instruments		2		(1)	Immaterial

For additional information, see Item 7A of Part II of our Annual Report on Form 10-K for the fiscal year ended May 30, 2021.

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