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Segment Reporting (Tables)

12 Months Ended

Sep. 28, 2025

Segment Reporting [Abstract]

Consolidated Revenue Mix by Product Type

Consolidated revenue mix by product type (in millions):

Fiscal Year Ended			Sep 28, 2025												Sep 29, 2024												Oct 1, 2023
Beverage(1)			$	22,539.9					61		%				$	21,883.9					60		%				$	21,684.8					60		%
Food(2)			7,049.9						19		%				6,749.2						19		%				6,585.1						18		%
Other(3)			7,594.6						20		%				7,543.1						21		%				7,705.7						22		%
Total			$	37,184.4					100		%				$	36,176.2					100		%				$	35,975.6					100		%

(1)     “Beverage” represents sales within our company-operated stores.

(2)     “Food” represents sales within our company-operated stores.

(3)     “Other” primarily consists of packaged and single-serve coffees and teas, royalty and licensing revenues, beverage-related ingredients, and serveware, among other items.

Information by geographic area

Information by geographic area (in millions):

Fiscal Year Ended			Sep 28, 2025						Sep 29, 2024						Oct 1, 2023
Net revenues(1):
United States			$	27,124.7					$	26,707.4					$	26,398.3
China			3,160.8						3,008.2						3,081.5
Other countries			6,898.9						6,460.6						6,495.8
Total			$	37,184.4					$	36,176.2					$	35,975.6
									Sep 28, 2025						Sep 29, 2024
Long-lived assets:
United States									$	15,952.7					$	15,878.4
China									4,276.8						4,514.2
Other countries									4,407.9						4,099.3
Total									$	24,637.4					$	24,491.9

(1)Includes Channel Development segment and other net revenues.

Financial Information for Reportable Operating Segments and All Other Segments

The financial information below is presented for our reportable operating segments and Corporate and Other for the fiscal years ended September 28, 2025, September 29, 2024, and October 1, 2023.

(in millions)			North America						International												Channel Development						Corporate and Other						Total
Fiscal 2025
Total net revenues			$	27,373.1					$	7,819.9											$	1,871.7					$	119.7					$	37,184.4
Product and distribution costs			7,628.7						2,749.8												1,168.3						111.4						11,658.2
Store operating expenses			13,973.3						3,085.6												—						—						17,058.9
Other operating expenses			281.6						242.0												60.2						0.8						584.6
Depreciation and amortization expenses			1,196.3						363.9												—						124.5						1,684.7
General and administrative expenses			483.3						344.3												5.8						1,783.8						2,617.2
Restructuring and impairments			653.2						82.5												1.9						154.4						892.0
Total operating expenses			24,216.4						6,868.1												1,236.2						2,174.9						34,495.6
Income from equity method investees			—						(1.8)												249.6						—						247.8
Operating income/(loss)			$	3,156.7					$	950.0											$	885.1					$	(2,055.2)					$	2,936.6
Interest income and other, net																																	113.3
Interest expense																																	(542.6)
Earnings before income taxes																																	$	2,507.3

(in millions)			North America						International												Channel Development						Corporate and Other						Total
Fiscal 2024
Total net revenues			$	27,009.5					$	7,338.9											$	1,769.8					$	58.0					$	36,176.2
Product and distribution costs			7,478.0						2,575.2												1,075.4						52.0						11,180.6
Store operating expenses			12,467.1						2,819.4												—						—						15,286.5
Other operating expenses			280.9						225.1												58.4						1.2						565.6
Depreciation and amortization expenses			1,052.4						338.3												—						121.9						1,512.6
General and administrative expenses			375.8						338.8												7.7						1,801.0						2,523.3
Total operating expenses			21,654.2						6,296.8												1,141.5						1,976.1						31,068.6
Income from equity method investees			—						3.6												297.6						—						301.2
Operating income/(loss)			$	5,355.3					$	1,045.7											$	925.9					$	(1,918.1)					$	5,408.8
Interest income and other, net																																	122.8
Interest expense																																	(562.0)
Earnings before income taxes																																	$	4,969.6

(in millions)			North America						International												Channel Development						Corporate and Other						Total
Fiscal 2023
Total net revenues			$	26,569.6					$	7,487.6											$	1,893.8					$	24.6					$	35,975.6
Product and distribution costs			7,530.4						2,608.4												1,250.1						20.2						11,409.1
Store operating expenses			11,959.2						2,761.1												—						—						14,720.3
Other operating expenses			263.8						219.0												54.6						2.0						539.4
Depreciation and amortization expenses			910.1						335.1												0.1						117.3						1,362.6
General and administrative expenses			389.7						335.8												8.4						1,707.4						2,441.3
Restructuring and impairments			20.7						—												—						1.1						21.8
Total operating expenses			21,073.9						6,259.4												1,313.2						1,848.0						30,494.5
Income from equity method investees			—						2.7												295.7						—						298.4
Other segment items(1)			—						—												91.3						—						91.3
Operating income/(loss)			$	5,495.7					$	1,230.9											$	967.6					$	(1,823.4)					$	5,870.8
Interest income and other, net																																	81.2
Interest expense																																	(550.1)
Earnings before income taxes																																	$	5,401.9

X

- Definition

Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information.

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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