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Derivative Financial Instruments (Tables)
 12 Months Ended
Sep. 28, 2019
Derivative [Line Items]  
Schedule Of Notional Amount Of Derivatives
We had the following aggregated outstanding notional amounts related to our derivative financial instruments:
 
 
 
 
in millions, except soy meal tons
 
 
 
Metric
 
September 28, 2019

 
September 29, 2018

Commodity:
 
 
 
 
 
 
Corn
 
Bushels
 
111

 
112

Soy Meal
 
Tons
 
1,078,800

 
651,700

Live Cattle
 
Pounds
 
14

 
105

Lean Hogs
 
Pounds
 
309

 
39

Foreign Currency
 
United States dollar
 
$
148

 
$
89

Interest Rate Swaps
 
Average monthly debt
 
$
400

 
$
400
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]  
Derivative [Line Items]  
Derivative Instruments, Gain (Loss)
The following table sets forth the pretax impact of cash flow hedge derivative instruments in the Consolidated Statements of Income:
 
 
 
 
 
 
 
 
 
 
 
in millions
 
 
Gain (Loss)
Recognized in OCI
on Derivatives
 
 
Consolidated
Statements of Income
Classification
 
Gain (Loss)
Reclassified from
OCI to Earnings
 
 
2019

 
2018

 
2017

 
 
 
2019

 
2018

 
2017

Cash Flow Hedge – Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commodity contracts
$
(15
)
 
$
(21
)
 
$
(3
)
 
Cost of Sales
 
$
(18
)
 
$
(12
)
 
$
(4
)
Interest rate hedges
(24
)
 
1

 
—

 
Interest expense
 
(1
)
 
—

 
—

Total
$
(39
)
 
$
(20
)
 
$
(3
)
 
 
 
$
(19
)
 
$
(12
)
 
$
(4
)
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member]  
Derivative [Line Items]  
Derivative Instruments, Gain (Loss)
 
 
in millions
 
 
 
Consolidated
Statements of Income
Classification
 
2019

 
2018

 
2017

Gain (Loss) on forwards
 
Cost of Sales
 
$
42

 
$
12

 
$
(20
)
Gain (Loss) on purchase contract
 
Cost of Sales
 
(42
)
 
(12
)
 
20
Not Designated as Hedging Instrument [Member]  
Derivative [Line Items]  
Derivative Instruments, Gain (Loss)
The following table sets forth the pretax impact of the undesignated derivative instruments in the Consolidated Statements of Income:
 
 
 
 
 
 
in millions
 
 
 
Consolidated
Statements of Income
Classification
 
Gain (Loss)
Recognized
in Earnings
 
 
 
 
 
2019

 
2018

 
2017

Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
Commodity contracts
 
Sales
 
$
(23
)
 
$
18

 
$
111

Commodity contracts
 
Cost of Sales
 
2

 
(33
)
 
(95
)
Foreign exchange contracts
 
Other Income/Expense
 
8

 
(3
)
 
—

Total
 
 
 
$
(13
)
 
$
(18
)
 
$
16