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Income Taxes (Tables)

12 Months Ended

Oct. 03, 2020

Income Tax Disclosure [Abstract]

Schedule Of Provision For Income Taxes From Continuing Operations

Detail of the provision (benefit) for income taxes from continuing operations consists of the following (in millions):

	2020				2019				2018
Federal	$	497			$	325			$	(426	)
State	105				42				118
Foreign	18				29				26
	$	620			$	396			$	(282	)
Current	$	575			$	304			$	583
Deferred	45				92				(865		)
	$	620			$	396			$	(282	)

Schedule Of Reasons For Differences Between Statutory Federal Tax Rate And Effective Income Tax Rate

The reasons for the difference between the statutory federal income tax rate and our effective income tax rate from continuing operations are as follows:

	2020			2019			2018
Federal income tax rate	21.0	%		21.0	%		24.5	%
State income taxes	3.0			2.9			3.3
Unrecognized tax benefits, net	(0.1	)		(6.6	)		(0.1	)
Impact of the Tax Act	—			—			(37.9	)
Domestic production deduction	—			—			(1.7	)
Impairment and sale of non-protein businesses	—			—			3.1
Other	(1.5	)%		(1.0	)		(1.5	)
	22.4	%		16.3	%		(10.3	)%

Schedule Of Tax Effects Of Major Items Recorded As Deferred Tax Assets And Liabilities

The tax effects of major items recorded as deferred tax assets and liabilities as of October 3, 2020, and September 28, 2019, are as follows (in millions):

	2020								2019
	Assets				Liabilities				Assets				Liabilities
Property, plant and equipment	$	—			$	923			$	—			$	891
Intangible assets	—				1,591				—				1,624
ROU assets	—				154				—				—
Accrued expenses	341				—				297				—
Lease liabilities	129				—				—				—
Net operating loss and other carryforwards	137				—				99				—
Other	75				265				84				231
	$	682			$	2,933			$	480			$	2,746
Valuation allowance	$	(127	)						$	(86	)
Net deferred tax liability					$	2,378							$	2,352

Schedule Of Activity Related To Gross Unrecognized Tax Benefits

The following table summarizes the activity related to our gross unrecognized tax benefits at October 3, 2020, September 28, 2019, and September 29, 2018 (in millions):

	2020				2019				2018
Balance as of the beginning of the year	$	169			$	308			$	316
Increases related to current year tax positions	21				20				19
Increases related to prior year tax positions	5				21				8
Reductions related to prior year tax positions	(9		)		(17		)		(18		)
Reductions related to settlements	(3		)		(9		)		(8		)
Reductions related to expirations of statutes of limitations	(18		)		(154		)		(9		)
Balance as of the end of the year	$	165			$	169			$	308

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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