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Leases (Notes) | 12 Months Ended
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Sep. 28, 2024
Leases [Abstract] |
Supplemental Balance Sheet Disclosures | Supplemental balance sheet information related to lease liabilities is as follows:
| Operating Leases |  | Finance Leases
| 2024 |  | 2023 |  | 2024 |  | 2023
Weighted-average remaining lease term (in years) | 6 years |  | 5 years |  | 5 years |  | 6 years
Weighted-average discount rate | 4 | % |  | 4 | % |  | 5 | % |  | 4 | %
Lessee Leases | LEASES We lease certain equipment, buildings and land related to transportation, distribution, storage, production, livestock grower assets and office activities. These lease arrangements can be structured as a standard lease agreement or embedded in a service or supply agreement. For further description of our lease accounting policy, refer to Note 1: Business and Summary of Significant Accounting Policies. Operating lease ROU assets and liabilities presented in our Consolidated Balance Sheets were as follows as of September 28, 2024 and September 30, 2023 (in millions):
| 2024 |  | 2023
Other Assets | $ | 710 |  |  | $ | 544 |
Other current liabilities | 173 |  |  | 153 |
Other Liabilities | 521 |  |  | 376 |
Finance lease ROU assets and liabilities presented in our Consolidated Balance Sheets were as follows as of September 28, 2024 and September 30, 2023 (in millions):
| 2024 |  | 2023
Net Property, Plant and Equipment | $ | 122 |  |  | $ | 72 |
Current Debt | 36 |  |  | 21 |
Long-term debt | 90 |  |  | 53 |
The components of lease costs for fiscal years 2024, 2023 and 2022 were as follows (in millions):
| 2024 |  | 2023 |  | 2022
Operating lease cost (a) | $ | 178 |  |  | $ | 181 |  |  | $ | 175 |
Finance lease cost: |  |  |  |  |
Amortization of right-of-use assets | 36 |  |  | 28 |  |  | 27 |
Interest on lease liabilities | 4 |  |  | 2 |  |  | 2 |
Variable lease cost (b) | 527 |  |  | 531 |  |  | 508 |
Short-term lease cost | 40 |  |  | 39 |  |  | 30 |
Total | $ | 785 |  |  | $ | 781 |  |  | $ | 742 |
(a) Sublease income is immaterial and not deducted from operating lease cost. (b) Variable lease costs are determined based on volume of output received, flocks placed or other performance metrics. Supplemental balance sheet information related to lease liabilities is as follows:
| Operating Leases |  | Finance Leases
| 2024 |  | 2023 |  | 2024 |  | 2023
Weighted-average remaining lease term (in years) | 6 years |  | 5 years |  | 5 years |  | 6 years
Weighted-average discount rate | 4 | % |  | 4 | % |  | 5 | % |  | 4 | %
Supplemental cash flow information related to lease liabilities is as follows (in millions):
| 2024 |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |
Operating cash outflows from operating leases | $ | 200 |  |  | $ | 191 |  |  | $ | 194 |
Operating cash outflows from finance leases | $ | 4 |  |  | $ | 2 |  |  | $ | 2 |
Financing cash outflows from finance leases | $ | 51 |  |  | $ | 38 |  |  | $ | 74 |
ROU assets obtained in exchange for lease liabilities |  |  |  |  |
Operating leases | $ | 360 |  |  | $ | 288 |  |  | $ | 159 |
Finance leases | $ | 82 |  |  | $ | 43 |  |  | $ | 50 |
At September 28, 2024, future maturities of operating and finance leases were as follows (in millions):
| Operating Lease Commitments |  | Finance Lease Commitments
2025 | $ | 197 |  |  | $ | 40 |
2026 | 156 |  |  | 33 |
2027 | 110 |  |  | 26 |
2028 | 86 |  |  | 16 |
2029 | 71 |  |  | 6 |
2030 and beyond | 187 |  |  | 20 |
Total undiscounted lease payments | $ | 807 |  |  | $ | 141 |
Less: Imputed interest | 113 |  |  | 15 |
Present value of total lease liabilities | $ | 694 |  |  | $ | 126 |
At September 28, 2024, our leases that had not yet commenced were not significant.

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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