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Derivative Financial Instruments (Tables)

6 Months Ended

Mar. 30, 2024

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Derivative Instruments, Gain (Loss) [Table Text Block]

The following table sets forth the pretax impact of the cash flow, fair value and undesignated derivative instruments in the Consolidated Condensed Statements of Income (in millions):

Consolidated Condensed Statements of Income Classification						Three Months Ended												Six Months Ended
						March 30, 2024						April 1, 2023						March 30, 2024						April 1, 2023
Cost of Sales			Gain (Loss) on fair value hedges:
			Commodity contracts (a)			$	4					$	2					$	3					$	(1)
			Gain (Loss) on derivatives not designated as hedging instruments:
			Commodity contracts			(50)						(23)						(54)						(8)
Total						$	(46)					$	(21)					$	(51)					$	(9)
Interest Expense			Gain (Loss) on cash flow hedges reclassified from OCI to Earnings:
			Interest rate contracts			$	(1)					$	—					$	(1)					$	(1)
Other, net			Gain (Loss) on derivatives not designated as hedging instruments:
			Foreign exchange contracts			$	(5)					$	5					$	—					$	10

Schedule of Income Statement Items Impacted by Derivatives [Table Text Block]

The following table sets forth the total amounts of each income and expense line item presented in the Consolidated Condensed Statements of Income in which the effects of hedges are recorded (in millions):

Consolidated Condensed Statements of Income Classification			Three Months Ended												Six Months Ended
			March 30, 2024						April 1, 2023						March 30, 2024						April 1, 2023
Cost of Sales			$	12,206					$	12,606					$	24,702					$	24,898
Interest Expense			111						89						216						173
Other, net			12						(1)						(13)						(43)

Schedule of Notional Amounts of Outstanding Derivative Positions

We had the following net aggregated outstanding notional amounts related to our derivative financial instruments:

in millions, except soybean meal tons			Metric						March 30, 2024						September 30, 2023
Commodity:
Corn			Bushels						130						65
Soybean Meal			Tons						893,260						956,630
Live Cattle			Pounds						211						319
Lean Hogs			Pounds						238						454
Foreign Currency			United States dollar						$	285					$	171

Designated as Hedging Instrument [Member] | Fair Value Hedging [Member]

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The following table sets forth the carrying amount of fair value hedge (assets) liabilities as of March 30, 2024 and September 30, 2023 (in millions):

Consolidated Condensed Balance Sheets Classification						March 30, 2024						September 30, 2023
Inventory						$	2					$	16

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Schedule of Income Statement Items Impacted by Derivatives [Table Text Block]

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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Tabular disclosure of the notional amounts of outstanding derivative positions.

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