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Income Taxes (Tables) | 12 Months Ended
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Sep. 29, 2019
Income Tax Disclosure [Abstract] |
Components of Earnings/(Loss) Before Income Taxes | Components of earnings before income taxes (in millions):
Fiscal Year Ended | Sep 29, 2019 |  | Sep 30, 2018 |  | Oct 1, 2017
United States | $ | 3,518.7 |  |  | $ | 4,826.0 |  |  | $ | 3,393.0 |
Foreign | 947.5 |  |  | 954.0 |  |  | 924.5 |
Total earnings before income taxes | $ | 4,466.2 |  |  | $ | 5,780.0 |  |  | $ | 4,317.5 |
Provision/(Benefit) for Income Taxes | Provision/(benefit) for income taxes (in millions):
Fiscal Year Ended | Sep 29, 2019 |  | Sep 30, 2018 |  | Oct 1, 2017
Current taxes: |  |  |  |  |
U.S. federal | $ | 1,414.3 |  |  | $ | 156.2 |  |  | $ | 931.0 |
U.S. state and local | 447.8 |  |  | 52.0 |  |  | 170.8 |
Foreign | 458.3 |  |  | 327.0 |  |  | 216.6 |
Total current taxes | 2,320.4 |  |  | 535.2 |  |  | 1,318.4 |
Deferred taxes: |  |  |  |  |
U.S. federal | (1,074.5 | ) |  | 633.7 |  |  | 121.2 |
U.S. state and local | (322.4 | ) |  | 101.5 |  |  | 14.2 |
Foreign | (51.9 | ) |  | (8.4 | ) |  | (21.2 | )
Total deferred taxes | (1,448.8 | ) |  | 726.8 |  |  | 114.2 |
Total income tax expense | $ | 871.6 |  |  | $ | 1,262.0 |  |  | $ | 1,432.6 |
Reconciliation of the Statutory U.S. Federal Income Tax Rate With Our Effective Income Tax Rate | Reconciliation of the statutory U.S. federal income tax rate with our effective income tax rate:
Fiscal Year Ended | Sep 29, 2019 |  | Sep 30, 2018 |  | Oct 1, 2017
Statutory rate | 21.0 | % |  | 24.5 | % |  | 35.0 | %
State income taxes, net of federal tax benefit | 2.1 |  |  | 2.1 |  |  | 2.8 |
Foreign rate differential | (0.1 | ) |  | (0.1 | ) |  | (2.8 | )
Excess tax benefits of stock-based compensation | (2.1 | ) |  | (0.9 | ) |  | — |
Residual tax on foreign earnings | 1.7 |  |  | — |  |  | — |
Foreign derived intangible income | (1.5 | ) |  | — |  |  | — |
Tax impacts related to sale of certain operations | (1.3 | ) |  | — |  |  | — |
Domestic production activity deduction | — |  |  | — |  |  | (1.8 | )
Gain resulting from acquisition of joint venture | — |  |  | (5.8 | ) |  | — |
Impact of the Tax Act | — |  |  | 2.8 |  |  | — |
Other, net | (0.3 | ) |  | (0.8 | ) |  | — |
Effective tax rate | 19.5 | % |  | 21.8 | % |  | 33.2 | %
Tax Effect of Temporary Differences and Carryforwards that Comprise Significant Portions of Deferred Tax Assets and Liabilities | Tax effect of temporary differences and carryforwards that comprise significant portions of deferred tax assets and liabilities (in millions):
| Sep 29, 2019 |  | Sep 30, 2018
Deferred tax assets: |  |  |
Property, plant and equipment | $ | 66.5 |  |  | $ | 67.4 |
Intangible assets and goodwill | 230.0 |  |  | — |
Accrued occupancy costs | 121.6 |  |  | 109.0 |
Accrued compensation and related costs | 62.7 |  |  | 64.2 |
Stored value card liability and deferred revenue | 1,649.0 |  |  | 144.2 |
Stock-based compensation | 77.5 |  |  | 96.7 |
Net operating losses | 75.6 |  |  | 79.2 |
Other | 130.7 |  |  | 129.5 |
Total | $ | 2,413.6 |  |  | $ | 690.2 |
Valuation allowance | (75.1 | ) |  | (129.3 | )
Total deferred tax asset, net of valuation allowance | $ | 2,338.5 |  |  | $ | 560.9 |
Deferred tax liabilities: |  |  |
Property, plant and equipment | (400.9 | ) |  | (348.1 | )
Intangible assets and goodwill | (209.9 | ) |  | (274.2 | )
Other | (148.3 | ) |  | (74.1 | )
Total | (759.1 | ) |  | (696.4 | )
Net deferred tax asset (liability) | $ | 1,579.4 |  |  | $ | (135.5 | )
Reported as: |  |  |
Deferred income tax assets | 1,765.8 |  |  | 134.7 |
Deferred income tax liabilities (included in Other long-term liabilities) | (186.4 | ) |  | (270.2 | )
Net deferred tax asset (liability) | $ | 1,579.4 |  |  | $ | (135.5 | )
Summary of Activity Related to Unrecognized Tax Benefits | The following table summarizes the activity related to our unrecognized tax benefits (in millions):
| Sep 29, 2019 |  | Sep 30, 2018 |  | Oct 1, 2017
Beginning balance | $ | 224.6 |  |  | $ | 196.9 |  |  | $ | 146.5 |
Increase related to prior year tax positions | 3.8 |  |  | 17.5 |  |  | 10.4 |
Decrease related to prior year tax positions | (75.3 | ) |  | (41.8 | ) |  | — |
Increase related to current year tax positions | 18.5 |  |  | 62.4 |  |  | 41.3 |
Decreases related to settlements with taxing authorities | (16.4 | ) |  | (4.5 | ) |  | — |
Decrease related to lapsing of statute of limitations | (23.1 | ) |  | (5.9 | ) |  | (1.3 | )
Ending balance | $ | 132.1 |  |  | $ | 224.6 |  |  | $ | 196.9 |

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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
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