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Derivative Financial Instruments (Tables) | 12 Months Ended
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Oct. 03, 2020
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 soybean meal tons |
|  | Metric |  | October 3, 2020 |  |  | September 28, 2019 |
Commodity: |  |  |  |  |  |
Corn |  | Bushels |  | 43 |  |  | 111 |
Soybean Meal |  | Tons |  | 428,300 |  |  | 1,078,800 |
Live Cattle |  | Pounds |  | 234 |  |  | 14 |
Lean Hogs |  | Pounds |  | 283 |  |  | 309 |
Foreign Currency |  | United States dollar |  | $ | 536 |  |  | $ | 148 |
Interest Rate Swaps |  | Average monthly debt |  | $ | — |  |  | $ | 400 |
Derivative Instruments, Gain (Loss) | The following table sets forth the pretax impact of the cash flow, fair value and undesignated derivative instruments in the Consolidated Statements of Income (in millions):
Consolidated Statements of Income Classification | 2020 |  |  | 2019 |  |  | 2018 |
Sales | Gain (Loss) on derivatives not designated as hedging instruments: |  |  |  |  |
| Commodity contracts | $ | — |  |  | $ | (23 | ) |  | $ | 18 |
Cost of Sales | Gain (Loss) on cash flow hedges reclassified from OCI to Earnings: |  |  |  |  |
| Commodity contracts | $ | (24 | ) |  | $ | (18 | ) |  | $ | (12 | )
| Gain (Loss) on fair value hedges: |  |  |  |  |
| Commodity contracts (a) | 135 |  |  | 42 |  |  | 12 |
| Gain (Loss) on derivatives not designated as hedging instruments: |  |  |  |  |
| Commodity contracts | (103 | ) |  | 2 |  |  | (33 | )
Total |  | $ | 8 |  |  | $ | 26 |  |  | $ | (33 | )
Interest Expense | Gain (Loss) on cash flow hedges reclassified from OCI to Earnings: |  |  |  |  |
| Interest rate contracts | $ | (6 | ) |  | $ | (1 | ) |  | $ | — |
Other, net | Gain (Loss) on derivatives not designated as hedging instruments: |  |  |  |  |
| Foreign exchange contracts | $ | (5 | ) |  | $ | 8 |  |  | $ | (3 | )
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 Other Comprehensive Income (in millions):
Gain (Loss) Recognized in OCI on Derivatives | 2020 |  |  | 2019 |  |  | 2018 |
Cash Flow Hedge – Derivatives designated as hedging instruments: |  |  |  |  |
Commodity contracts | $ | (17 | ) |  | $ | (15 | ) |  | $ | (21 | )
Interest rate hedges | — |  |  | (24 | ) |  | 1 |
Total | $ | (17 | ) |  | $ | (39 | ) |  | $ | (20 | )
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] |
Derivative [Line Items] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The carrying amount of fair value hedge (assets) liabilities as of fiscal 2020, 2019 and 2018 were as follows (in millions):
Consolidated Balance Sheets Classification | 2020 |  |  | 2019 |  |  | 2018 |
Inventory | 6 |  |  | (19 | ) |  | 4 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579240-113959 + Details
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