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Debt | 6 Months Ended
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Apr. 01, 2017
Debt Instruments [Abstract] |
Debt | DEBT The major components of debt are as follows (in millions):
| April 1, 2017 |  | October 1, 2016
Revolving credit facility | $ | 3 |  |  | $ | 300 |
Commercial paper | 500 |  |  | — |
Senior notes: |  |  |
7.00% Notes due May 2018 | 120 |  |  | 120 |
2.65% Notes due August 2019 | 1,000 |  |  | 1,000 |
4.10% Notes due September 2020 | 283 |  |  | 284 |
4.50% Senior notes due June 2022 | 1,000 |  |  | 1,000 |
3.95% Notes due August 2024 | 1,250 |  |  | 1,250 |
7.00% Notes due January 2028 | 18 |  |  | 18 |
6.13% Notes due November 2032 | 162 |  |  | 163 |
4.88% Notes due August 2034 | 500 |  |  | 500 |
5.15% Notes due August 2044 | 500 |  |  | 500 |
Discount on senior notes | (8 | ) |  | (8 | )
Term loans: |  |  |
Tranche B due April 2019 (2.13% at 04/01/17) | 500 |  |  | 500 |
Tranche B due August 2019 (2.50% at 04/01/17) | 552 |  |  | 552 |
Amortizing notes - tangible equity units (see Note 7: Equity) | 35 |  |  | 71 |
Other | 59 |  |  | 58 |
Unamortized debt issuance costs | (26 | ) |  | (29 | )
Total debt | 6,448 |  |  | 6,279 |
Less current debt | 543 |  |  | 79 |
Total long-term debt | $ | 5,905 |  |  | $ | 6,200 |
Revolving Credit Facility We have a $1.25 billion revolving credit facility that supports short-term funding needs and letters of credit. The facility will mature and the commitments thereunder will terminate in September 2019. Amounts available for borrowing under this facility totaled $739 million at April 1, 2017, net of outstanding letters of credit and amounts outstanding under our commercial paper program. At April 1, 2017, we had outstanding letters of credit issued under this facility totaling $8 million, none of which were drawn upon. We had an additional $82 million of bilateral letters of credit issued separately from the revolving credit facility, none of which were drawn upon. Our letters of credit are issued primarily in support of leasing obligations and workers’ compensation insurance programs. If in the future any of our subsidiaries shall guarantee any of our material indebtedness, such subsidiary shall be required to guarantee the indebtedness, obligations and liabilities under this facility. Commercial Paper Program In February 2017, our Board of Directors authorized a commercial paper program under which we may issue unsecured short-term promissory notes (commercial paper) up to a maximum aggregate principal amount of $500 million. We intend to use the net proceeds from the commercial paper program for general corporate purposes. As of April 1, 2017, we had $500 million of commercial paper outstanding at a weighted average interest rate of 1.27% with maturities of less than 45 days. Debt Covenants Our revolving credit and term loan facilities contain affirmative and negative covenants that, among other things, may limit or restrict our ability to: create liens and encumbrances; incur debt; merge, dissolve, liquidate or consolidate; make acquisitions and investments; dispose of or transfer assets; change the nature of our business; engage in certain transactions with affiliates; and enter into hedging transactions, in each case, subject to certain qualifications and exceptions. In addition, we are required to maintain minimum interest expense coverage and maximum debt-to-capitalization ratios. Our senior notes also contain affirmative and negative covenants that, among other things, may limit or restrict our ability to: create liens; engage in certain sale/leaseback transactions; and engage in certain consolidations, mergers and sales of assets. We were in compliance with all debt covenants at April 1, 2017.

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- 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
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