XML 25 R13.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Debt | 6 Months Ended
--- | ---
Apr. 02, 2017
Debt Disclosure [Abstract] |
Debt | Debt Short-term Debt Under our commercial paper program, we may issue unsecured commercial paper notes up to a maximum aggregate amount outstanding at any time of $1 billion, with individual maturities that may vary but not exceed 397 days from the date of issue. Amounts outstanding under the commercial paper program are required to be backstopped by available commitments under our credit facility. The proceeds from borrowings under our commercial paper program may be used for working capital needs, capital expenditures and other corporate purposes, including, but not limited to, business expansion, payment of cash dividends on our common stock and share repurchases. As of April 2, 2017, we had $25 million of borrowings outstanding under the program. The estimated fair value of the commercial paper approximates its carrying value. Long-term Debt In March 2017, we issued Japanese yen-denominated long-term debt in an underwritten registered public offering. The 7-year 0.372% Senior Notes (the "2024 notes") due March 2024 were issued with a face value of ¥85 billion, of which ¥76.0 billion has been designated to hedge the foreign currency exposure of our net investment in Japan. Interest on the 2024 notes is payable semi-annually on March 15 and September 15 of each year, commencing on September 15, 2017. In December 2016, we repaid the $400 million of 0.875% Senior Notes (the "2016 notes") at maturity. Components of long-term debt including the associated interest rates and related estimated fair values by calendar maturity (in millions, except interest rates):
| Apr 2, 2017 |  | Oct 2, 2016 |  | Stated Interest Rate | Effective Interest Rate (1)
Issuance | Face Value | Estimated Fair Value |  | Face Value | Estimated Fair Value |
2016 notes | $ | — |  | $ | — |  |  | $ | 400.0 |  | $ | 400 |  |  | 0.875 | % | 0.941 | %
2018 notes | 350.0 |  | 354 |  |  | 350.0 |  | 357 |  |  | 2.000 | % | 2.012 | %
2021 notes | 500.0 |  | 502 |  |  | 500.0 |  | 511 |  |  | 2.100 | % | 2.293 | %
2021 notes | 250.0 |  | 251 |  |  | 250.0 |  | 255 |  |  | 2.100 | % | 1.600 | %
2022 notes | 500.0 |  | 509 |  |  | 500.0 |  | 526 |  |  | 2.700 | % | 2.819 | %
2023 notes | 750.0 |  | 806 |  |  | 750.0 |  | 839 |  |  | 3.850 | % | 2.860 | %
2024 notes (2) | 761.1 |  | 762 |  |  | — |  | — |  |  | 0.372 | % | 0.462 | %
2026 notes | 500.0 |  | 480 |  |  | 500.0 |  | 509 |  |  | 2.450 | % | 2.511 | %
2045 notes | 350.0 |  | 370 |  |  | 350.0 |  | 417 |  |  | 4.300 | % | 4.348 | %
Total | 3,961.1 |  | 4,034 |  |  | 3,600.0 |  | 3,814 |  |  |  |
Aggregate debt issuance costs and unamortized premium, net | (18.6 | ) |  |  | (14.8 | ) |  |  |  |
Total | $ | 3,942.5 |  |  |  | $ | 3,585.2 |  |  |  |  |
(1) | Includes the effects of the amortization of any premium or discount and any gain or loss upon settlement of related treasury locks or forward-starting interest rate swaps utilized to hedge the interest rate risk prior to the debt issuance.
(2) | Japanese yen-denominated long-term debt.
The indentures under which the above notes were issued require us to maintain compliance with certain covenants, including limits on future liens and sale and leaseback transactions on certain material properties. As of April 2, 2017, we were in compliance with all applicable covenants. The following table summarizes our long-term debt maturities as of April 2, 2017 by fiscal year (in millions):
Fiscal Year | Total
2018 | $ | — |
2019 | 350.0 |
2020 | — |
2021 | 750.0 |
2022 | 500.0 |
Thereafter | 2,361.1 |
Total | $ | 3,961.1 |

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

X
- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration