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Derivative Financial Instruments (Tables)

12 Months Ended

Oct. 02, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Gains and Losses on Derivative Contracts Designated as Hedging Instruments Included in AOCI and Expected to be Reclassified into Earnings Within 12 months, Net of Tax

Gains and losses on derivative contracts and foreign currency-denominated debt designated as hedging instruments included in AOCI and expected to be reclassified into earnings within 12 months, net of tax (in millions):

			Net Gains/(Losses) Included in AOCI																		Net Gains/(Losses) Expected to be Reclassified from AOCI into Earnings within 12 Months						Outstanding Contract/Debt Remaining Maturity (Months)
			Oct 2, 2022						Oct 3, 2021						Sep 27, 2020
Cash Flow Hedges:
Coffee			$	153.9					$	197.8					$	(2.5)					$	148.3					6
Cross-currency swaps			(1.9)						4.4						5.2						—						26
Dairy			(2.6)						(0.4)						0.5						(2.6)						11
Foreign currency - other			55.3						1.3						5.3						32.5						33
Interest rates			(5.8)						(44.8)						(90.6)						1.2						0
Net Investment Hedges:
Cross-currency swaps			67.3						37.9						32.6						—						84
Foreign currency			16.1						16.0						16.0						—						0
Foreign currency debt			125.7						(5.3)						(37.1)						—						18

Pretax Gains and Losses on Derivative Contracts Designated as Hedging Instruments Recognized in OCI and Reclassifications from AOCI to Earnings

Pre-tax gains and losses on derivative contracts and foreign currency-denominated long-term debt designated as hedging instruments recognized in OCI and reclassifications from AOCI to earnings (in millions):

																		Year Ended
												Gains/(Losses) Recognized in OCI Before Reclassifications																		Gains/(Losses) Reclassified from AOCI to Earnings																		Location of gain/(loss)
															Oct 2, 2022						Oct 3, 2021						Sep 27, 2020						Oct 2, 2022						Oct 3, 2021						Sep 27, 2020
Cash Flow Hedges:
Coffee																		$	76.9					$	223.5					$	(1.2)					$	126.2					$	(3.5)					$	0.5					Product and distribution costs
Cross-currency swaps																		24.8						13.7						4.4						(6.9)						1.9						2.3						Interest expense
																																				39.4						12.7						(6.1)						Interest income and other, net
Dairy																		3.6						0.5						3.0						6.5						1.7						4.0						Product and distribution costs
																																				—						—						(1.7)						Interest income and other, net(1)
Foreign currency - other																		103.9						(10.0)						(6.4)						22.0						1.8						5.5						Licensed stores revenues
																																				(2.3)						(7.3)						(8.7)						Product and distribution costs
																																				13.7						—						6.1						Interest income and other, net(1)
Interest rates																		50.3						56.1						(126.1)						(2.0)						(1.8)						—						Interest expense
																																				—						(3.6)						—						Interest income and other, net
Net Investment Hedges:
Cross-currency swaps																		53.5						20.5						56.8						14.3						13.4						13.3						Interest expense
Foreign currency debt																		175.5						42.6						(18.1)						—						—						—

(1)As a result of the global COVID-19 impacts, we discontinued certain cash flow hedges during the fiscal year ended September 27, 2020.

Pretax Gains and Losses on Derivative Contracts Not Designated as Hedging Instruments Recognized in Earnings

Pre-tax gains and losses on non-designated derivatives and designated fair value hedging instruments and the related fair value hedged item recognized in earnings (in millions):

																					Gains/(Losses) Recognized in Earnings
			Location of gain/(loss) recognized in earnings												Year Ended
																					Oct 2, 2022						Oct 3, 2021						Sep 27, 2020
Non-Designated Derivatives:
Dairy			Interest income and other, net																		$	0.2					$	—					$	—
Diesel fuel and other commodities			Interest income and other, net																		3.7						2.6						(8.8)
Coffee			Interest income and other, net																		9.2						—						—
Foreign currency - other			Interest income and other, net																		46.8						7.5						0.3
Fair Value Hedges:
Interest rate swap			Interest expense																		(65.0)						(0.5)						28.7
Long-term debt (hedged item)			Interest expense																		73.9						14.0						(23.8)

Notional Amounts of Outstanding Derivative Contracts

Notional amounts of outstanding derivative contracts (in millions):

			Oct 2, 2022						Oct 3, 2021
Coffee			$	649					$	481
Cross-currency swaps			741						806
Dairy			94						53
Diesel fuel and other commodities			33						10
Foreign currency - other			1,269						1,009
Interest rate swaps			1,100						1,250

Fair Value of Outstanding Derivative Contracts

Fair value of outstanding derivative contracts (in millions) including the location of the asset and/or liability on the consolidated balance sheets:

									Derivative Assets
			Balance Sheet Location						Oct 2, 2022						Oct 3, 2021
Designated Derivative Instruments:
Coffee			Prepaid expenses and other current assets						$	—					$	130.5
Cross-currency swaps			Other long-term assets						115.4						54.7
Dairy			Prepaid expenses and other current assets						0.5						0.8
Foreign currency - other			Prepaid expenses and other current assets						39.9						8.9
			Other long-term assets						33.5						6.9
Interest rate swap			Other long-term assets						—						22.7
Non-designated Derivative Instruments:
Diesel fuel and other commodities			Prepaid expenses and other current assets						0.4						0.1
Foreign currency			Prepaid expenses and other current assets						34.3						7.3
			Other long-term assets						7.3						—
									Derivative Liabilities
			Balance Sheet Location						Oct 2, 2022						Oct 3, 2021
Designated Derivative Instruments:
Cross-currency swaps			Other long-term liabilities						$	—					$	3.3
Dairy			Accrued liabilities						2.9						0.9
Foreign currency - other			Accrued liabilities						0.3						7.4
			Other long-term liabilities						—						3.6
Interest rates			Accrued liabilities						12.0						—
			Other long-term liabilities						—						1.3
Interest rate swap			Other long-term liabilities						34.0						—
Non-designated Derivative Instruments:
Dairy			Accrued liabilities						—						0.2
Foreign currency			Accrued liabilities						5.8						0.1

Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following amounts were recorded on the consolidated balance sheets related to fixed-to-floating interest rate swaps designated in fair value hedging relationships:

			Carrying amount of hedged item												Cumulative amount of fair value hedging adjustment included in the carrying amount
			Oct 2, 2022						Oct 3, 2021						Oct 2, 2022						Oct 3, 2021
Location on the balance sheet
Long-term debt			$	1,047.7					$	771.7					$	(52.3)					$	21.7

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Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

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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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Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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