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Leases (Notes)
 12 Months Ended
Sep. 28, 2024
Leases [Abstract]  
Supplemental Balance Sheet Disclosures
Supplemental balance sheet information related to lease liabilities is as follows:
Operating LeasesFinance Leases
2024202320242023
Weighted-average remaining lease term (in years)6 years5 years5 years6 years
Weighted-average discount rate4 %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):
20242023
Other Assets$710 $544 
Other current liabilities173 153 
Other Liabilities521 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):
20242023
Net Property, Plant and Equipment$122 $72 
Current Debt36 21 
Long-term debt90 53 
The components of lease costs for fiscal years 2024, 2023 and 2022 were as follows (in millions):
202420232022
Operating lease cost (a)
$178 $181 $175 
Finance lease cost:
Amortization of right-of-use assets36 28 27 
Interest on lease liabilities4 2 2 
Variable lease cost (b)
527 531 508 
Short-term lease cost40 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 LeasesFinance Leases
2024202320242023
Weighted-average remaining lease term (in years)6 years5 years5 years6 years
Weighted-average discount rate4 %4 %5 %4 %
Supplemental cash flow information related to lease liabilities is as follows (in millions):
202420232022
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 CommitmentsFinance Lease Commitments
2025$197 $40 
2026156 33 
2027110 26 
202886 16 
202971 6 
2030 and beyond187 20 
Total undiscounted lease payments$807 $141 
Less: Imputed interest113 15 
Present value of total lease liabilities$694 $126 
At September 28, 2024, our leases that had not yet commenced were not significant.