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Derivative Instruments (Tables)

3 Months Ended

Dec. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Gross Fair Value of Derivative Positions

The Company’s derivative positions measured at fair value are summarized in the following tables:

			As of December 30, 2023
			Current Assets						Investments/Other Assets						Other Current Liabilities						Other Long- Term Liabilities
Derivatives designated as hedges
Foreign exchange			$	399					$	206					$	(155)					$	(100)
Interest rate			—						—						(1,459)						—
Other			1						1						(3)						(1)
Derivatives not designated as hedges
Foreign exchange			59						4						(245)						(65)
Other			16						145						—						—
Gross fair value of derivatives			475						356						(1,862)						(166)
Counterparty netting			(372)						(195)						463						104
Cash collateral (received) paid			(13)						—						1,106						—
Net derivative positions			$	90					$	161					$	(293)					$	(62)

			As of September 30, 2023
			Current Assets						Investments/Other Assets						Other Current Liabilities						Other Long- Term Liabilities
Derivatives designated as hedges
Foreign exchange			$	595					$	338					$	(123)					$	(93)
Interest rate			—						—						(1,791)						—
Other			12						6						—						—
Derivatives not designated as hedges
Foreign exchange			384						19						(520)						(79)
Other			—						128						(13)						—
Gross fair value of derivatives			991						491						(2,447)						(172)
Counterparty netting			(770)						(262)						900						132
Cash collateral (received) paid			(123)						(7)						1,257						—
Net derivative positions			$	98					$	222					$	(290)					$	(40)

Carrying Amount and Cumulative Basis Adjustments for Fair Value Hedges Recorded on the Balance Sheet

The following table summarizes fair value hedge adjustments to hedged borrowings:

			Carrying Amount of Hedged Borrowings												Fair Value Adjustments Included in Hedged Borrowings
			December 30, 2023						September 30, 2023						December 30, 2023						September 30, 2023
Borrowings:
Current			$	2,381					$	1,439					$	(60)					$	(59)
Long-term			10,296						10,748						(1,253)						(1,694)
			$	12,677					$	12,187					$	(1,313)					$	(1,753)

Adjustments Related to Fair Value Hedges Included in Interest Expense, net in the Consolidated Statements of Income

The following amounts are included in “Interest expense, net” in the Condensed Consolidated Statements of Income:

			Quarter Ended
			December 30, 2023						December 31, 2022
Gain (loss) on:
Pay-floating swaps			$	432					$	71
Borrowings hedged with pay-floating swaps			(432)						(71)
Benefit (expense) associated with interest accruals on pay-floating swaps			(154)						(95)

Effect of Foreign Exchange Cash Flow Hedges on AOCI

The following table summarizes the effect of foreign exchange cash flow hedges on AOCI:

			Quarter Ended
			December 30, 2023						December 31, 2022
Gain (loss) recognized in Other Comprehensive Income			$	(264)					$	(502)
Gain (loss) reclassified from AOCI into the Statements of Operations(1)			141						222

(1)Primarily recorded in revenue.

Net Gains or Losses Recognized in Costs and Expenses on Economic Exposures Associated with Foreign Currency Exchange Rates

The following table summarizes the net foreign exchange gains or losses recognized on foreign currency denominated assets and liabilities and the net foreign exchange gains or losses on the foreign exchange contracts we entered into to mitigate our exposure with respect to foreign currency denominated assets and liabilities by the corresponding line item in which they are recorded in the Condensed Consolidated Statements of Income:

			Costs and Expenses												Interest expense, net												Income Tax Expense
Quarter Ended:			December 30, 2023						December 31, 2022						December 30, 2023						December 31, 2022						December 30, 2023						December 31, 2022
Net gains (losses) on foreign currency denominated assets and liabilities			$	35					$	145					$	(23)					$	(18)					$	(46)					$	(88)
Net gains (losses) on foreign exchange risk management contracts not designated as hedges			(126)						(213)						21						18						42						70
Net gains (losses)			$	(91)					$	(68)					$	(2)					$	—					$	(4)					$	(18)

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Tabular disclosure for cash flow hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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