XML 31 R16.htm IDEA: XBRL DOCUMENT
v3.25.3

Leases | 12 Months Ended
--- | ---
Sep. 27, 2025
Leases [Abstract] |
Leases | Leases The Company has lease arrangements for certain equipment and facilities, including corporate, data center, manufacturing and retail space. These leases typically have original terms not exceeding 10 years and generally contain multiyear renewal options, some of which are reasonably certain of exercise. Payments under the Company’s lease arrangements may be fixed or variable, and variable lease payments are primarily based on purchases of output of the underlying leased assets. Lease costs associated with fixed payments on the Company’s operating leases were $2.1 billion for 2025 and $2.0 billion for both 2024 and 2023. Lease costs associated with variable payments on the Company’s leases were $16.1 billion, $13.8 billion and $13.9 billion for 2025, 2024 and 2023, respectively. The Company made fixed cash payments related to operating leases of $2.1 billion in 2025 and $1.9 billion in both 2024 and 2023. Noncash activities involving right-of-use (“ROU”) assets obtained in exchange for lease liabilities were $2.8 billion, $1.0 billion and $2.1 billion for 2025, 2024 and 2023, respectively. The following table shows ROU assets and lease liabilities, and the associated financial statement line items, as of September 27, 2025 and September 28, 2024 (in millions):
Lease-Related Assets and Liabilities |  | Financial Statement Line Items |  | 2025 |  | 2024 |  |
Right-of-use assets: |  |  |  |  |  |  |  |
Operating leases |  | Other non-current assets |  | $ | 11,205 |  |  | $ | 10,234 |  |  |
Finance leases |  | Property, plant and equipment, net |  | 1,033 |  |  | 1,069 |  |  |
Total right-of-use assets |  |  |  | $ | 12,238 |  |  | $ | 11,303 |  |  |
Lease liabilities: |  |  |  |  |  |  |  |
Operating leases |  | Other current liabilities |  | $ | 1,579 |  |  | $ | 1,488 |  |  |
|  | Other non-current liabilities |  | 10,911 |  |  | 10,046 |  |  |
Finance leases |  | Other current liabilities |  | 538 |  |  | 144 |  |  |
|  | Other non-current liabilities |  | 692 |  |  | 752 |  |  |
Total lease liabilities |  |  |  | $ | 13,720 |  |  | $ | 12,430 |  |  |
Lease liability maturities as of September 27, 2025, are as follows (in millions):
| Operating Leases |  | Finance Leases |  | Total
2026 | $ | 1,967 |  |  | $ | 563 |  |  | $ | 2,530 |
2027 | 1,988 |  |  | 73 |  |  | 2,061 |
2028 | 1,848 |  |  | 51 |  |  | 1,899 |
2029 | 1,585 |  |  | 48 |  |  | 1,633 |
2030 | 1,381 |  |  | 43 |  |  | 1,424 |
Thereafter | 5,956 |  |  | 801 |  |  | 6,757 |
Total undiscounted liabilities | 14,725 |  |  | 1,579 |  |  | 16,304 |
Less: Imputed interest | (2,235) |  |  | (349) |  |  | (2,584) |
Total lease liabilities | $ | 12,490 |  |  | $ | 1,230 |  |  | $ | 13,720 |
The weighted-average remaining lease term related to the Company’s lease liabilities as of September 27, 2025 and September 28, 2024 was 9.8 years and 10.3 years, respectively. The discount rate related to the Company’s lease liabilities as of September 27, 2025 and September 28, 2024 was 3.4% and 3.1%, respectively. The discount rates related to the Company’s lease liabilities are generally based on estimates of the Company’s incremental borrowing rate, as the discount rates implicit in the Company’s leases cannot be readily determined. As of September 27, 2025, the Company had $523 million of fixed payment obligations under additional leases, primarily for corporate facilities and retail space, that had not yet commenced. These leases are expected to commence between 2026 and 2027, with lease terms ranging from 1 year to 21 years.
Leases | Leases The Company has lease arrangements for certain equipment and facilities, including corporate, data center, manufacturing and retail space. These leases typically have original terms not exceeding 10 years and generally contain multiyear renewal options, some of which are reasonably certain of exercise. Payments under the Company’s lease arrangements may be fixed or variable, and variable lease payments are primarily based on purchases of output of the underlying leased assets. Lease costs associated with fixed payments on the Company’s operating leases were $2.1 billion for 2025 and $2.0 billion for both 2024 and 2023. Lease costs associated with variable payments on the Company’s leases were $16.1 billion, $13.8 billion and $13.9 billion for 2025, 2024 and 2023, respectively. The Company made fixed cash payments related to operating leases of $2.1 billion in 2025 and $1.9 billion in both 2024 and 2023. Noncash activities involving right-of-use (“ROU”) assets obtained in exchange for lease liabilities were $2.8 billion, $1.0 billion and $2.1 billion for 2025, 2024 and 2023, respectively. The following table shows ROU assets and lease liabilities, and the associated financial statement line items, as of September 27, 2025 and September 28, 2024 (in millions):
Lease-Related Assets and Liabilities |  | Financial Statement Line Items |  | 2025 |  | 2024 |  |
Right-of-use assets: |  |  |  |  |  |  |  |
Operating leases |  | Other non-current assets |  | $ | 11,205 |  |  | $ | 10,234 |  |  |
Finance leases |  | Property, plant and equipment, net |  | 1,033 |  |  | 1,069 |  |  |
Total right-of-use assets |  |  |  | $ | 12,238 |  |  | $ | 11,303 |  |  |
Lease liabilities: |  |  |  |  |  |  |  |
Operating leases |  | Other current liabilities |  | $ | 1,579 |  |  | $ | 1,488 |  |  |
|  | Other non-current liabilities |  | 10,911 |  |  | 10,046 |  |  |
Finance leases |  | Other current liabilities |  | 538 |  |  | 144 |  |  |
|  | Other non-current liabilities |  | 692 |  |  | 752 |  |  |
Total lease liabilities |  |  |  | $ | 13,720 |  |  | $ | 12,430 |  |  |
Lease liability maturities as of September 27, 2025, are as follows (in millions):
| Operating Leases |  | Finance Leases |  | Total
2026 | $ | 1,967 |  |  | $ | 563 |  |  | $ | 2,530 |
2027 | 1,988 |  |  | 73 |  |  | 2,061 |
2028 | 1,848 |  |  | 51 |  |  | 1,899 |
2029 | 1,585 |  |  | 48 |  |  | 1,633 |
2030 | 1,381 |  |  | 43 |  |  | 1,424 |
Thereafter | 5,956 |  |  | 801 |  |  | 6,757 |
Total undiscounted liabilities | 14,725 |  |  | 1,579 |  |  | 16,304 |
Less: Imputed interest | (2,235) |  |  | (349) |  |  | (2,584) |
Total lease liabilities | $ | 12,490 |  |  | $ | 1,230 |  |  | $ | 13,720 |
The weighted-average remaining lease term related to the Company’s lease liabilities as of September 27, 2025 and September 28, 2024 was 9.8 years and 10.3 years, respectively. The discount rate related to the Company’s lease liabilities as of September 27, 2025 and September 28, 2024 was 3.4% and 3.1%, respectively. The discount rates related to the Company’s lease liabilities are generally based on estimates of the Company’s incremental borrowing rate, as the discount rates implicit in the Company’s leases cannot be readily determined. As of September 27, 2025, the Company had $523 million of fixed payment obligations under additional leases, primarily for corporate facilities and retail space, that had not yet commenced. These leases are expected to commence between 2026 and 2027, with lease terms ranging from 1 year to 21 years.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeFinanceLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration