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v3.23.3

Nature of Business, Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Sep. 29, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Components of Comprehensive Income | The summary of the components of comprehensive income is as follows (in thousands):
| Fiscal Year Ended
| September 29, 2023 |  | September 30, 2022 |  | October 1, 2021
| Pre-Tax Amount | Tax Effect | After-Tax Amount |  | Pre-Tax Amount | Tax Effect | After-Tax Amount |  | Pre-Tax Amount | Tax Effect | After-Tax Amount
Net income (loss) |  |  | $ | 673,530 |  |  |  |  | $ | 194,177 |  |  |  |  | $ | (92,219) |
Pension plan adjustments | (7,960) |  | 929 |  | (7,031) |  |  | 26,184 |  | (9,071) |  | 17,113 |  |  | 63,959 |  | (15,391) |  | 48,568 |
Foreign currency translation adjustments | 28,136 |  | (7,863) |  | 20,273 |  |  | (96,783) |  | 10,407 |  | (86,376) |  |  | 7,383 |  | 1,542 |  | 8,925 |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |
Unrealized gains arising during the period | 51,541 |  | (13,401) |  | 38,140 |  |  | 193,616 |  | (50,340) |  | 143,276 |  |  | 1,228 |  | (319) |  | 909 |
Reclassification adjustments | (59,117) |  | 15,371 |  | (43,746) |  |  | 27,970 |  | (7,272) |  | 20,698 |  |  | 50,595 |  | (13,155) |  | 37,440 |
Share of equity investee's comprehensive income | 10,616 |  | (4,918) |  | 5,698 |  |  | 1,729 |  | — |  | 1,729 |  |  | 3,405 |  | — |  | 3,405 |
Other comprehensive income | 23,216 |  | (9,882) |  | 13,334 |  |  | 152,716 |  | (56,276) |  | 96,440 |  |  | 126,570 |  | (27,323) |  | 99,247 |
Comprehensive income |  |  | 686,864 |  |  |  |  | 290,617 |  |  |  |  | 7,028 |
Less: Net loss attributable to noncontrolling interests |  |  | (578) |  |  |  |  | (307) |  |  |  |  | (1,386) |
Comprehensive income attributable to Aramark stockholders |  |  | $ | 687,442 |  |  |  |  | $ | 290,924 |  |  |  |  | $ | 8,414 |
Schedule of Accumulated Other Comprehensive Loss | Accumulated other comprehensive loss consists of the following (in thousands):
| September 29, 2023 |  | September 30, 2022
Pension plan adjustments | $ | (14,241) |  |  | $ | (7,210) |
Foreign currency translation adjustments | (193,115) |  |  | (213,388) |
Cash flow hedges | 109,119 |  |  | 114,725 |
Share of equity investee's accumulated other comprehensive loss | — |  |  | (5,698) |
| $ | (98,237) |  |  | $ | (111,571) |
Schedule of Components of Inventories | The components of inventories are as follows:
|  | September 29, 2023 |  | September 30, 2022
Food |  | 66.9 | % |  | 64.0 | %
Career apparel and linens |  | 28.6 | % |  | 31.7 | %
Parts, supplies and novelties |  | 4.5 | % |  | 4.3 | %
|  | 100.0 | % |  | 100.0 | %
Schedule of Prepayments and Other Current Assets | Prepayments and other current assets The following table presents details of "Prepayments and other current assets" as presented in the Consolidated Balance Sheets (in thousands):
|  | September 29, 2023 |  | September 30, 2022
Prepaid Insurance |  | $ | 21,573 |  |  | $ | 15,192 |
Prepaid Taxes and Licenses |  | 13,575 |  |  | 11,087 |
Current Income Tax Asset |  | 10,198 |  |  | 10,842 |
Marketable Securities(1) |  | 110,714 |  |  | 78,204 |
Other Prepaid Expenses |  | 158,703 |  |  | 146,870 |
|  | $ | 314,763 |  |  | $ | 262,195 |
(1) | Marketable securities represent held-to-maturity debt securities with original maturities greater than three months, which are maturing within one year.
Schedule of Other Assets | Other Assets The following table presents details of "Other Assets" as presented in the Consolidated Balance Sheets (in thousands):
|  | September 29, 2023 |  | September 30, 2022
Cost to fulfill - Client(1) |  | $ | 92,458 |  |  | $ | 97,830 |
Cost to fulfill - Rental merchandise in-service(2) |  | 366,677 |  |  | 359,657 |
Long-term receivables |  | 24,403 |  |  | 26,412 |
Miscellaneous investments(3) |  | 184,955 |  |  | 405,463 |
Computer software costs, net(4) |  | 202,665 |  |  | 199,521 |
Interest rate swap agreements(5) |  | 147,458 |  |  | 149,755 |
Employee sales commissions(6) |  | 138,400 |  |  | 131,443 |
Other(7) |  | 150,926 |  |  | 167,325 |
|  | $ | 1,307,942 |  |  | $ | 1,537,406 |
(1) | Cost to fulfill - Client represent payments made by the Company to enhance the service resources used by the Company to satisfy its performance obligation (see Note 7).
(2) | Costs to fulfill - Rental merchandise in-service represent personalized work apparel, linens and other rental items in service at customer locations (see Note 7).
(3) | Miscellaneous investments represent investments in 50% or less owned entities.
(4) | Computer software costs represent capitalized costs incurred to purchase or develop software for internal use and are amortized over the estimated useful life of the software, generally a period of three to 10 years. During fiscal 2023, the Company recorded a computer software impairment charge of $8.2 million within its FSS United States segment, which is included in "Cost of services provided (exclusive of depreciation and amortization)" on the Consolidated Statements of Income (Loss).
(5) | Interest rate swaps represent receivable under cash flow hedging agreements based on current forward interest rates (see Note 6).
(6) | Employee sales commissions represent commission payments made to employees related to new or retained business contracts (see Note 7).
(7) | Other consists primarily of noncurrent deferred tax assets, pension assets, deferred financing costs on certain revolving credit facilities and other noncurrent assets.
Schedule of Accrued Liabilities | Other Accrued Expenses and Liabilities The following table presents details of "Accrued expenses and other current liabilities" in the Consolidated Balance Sheets (in thousands):
|  | September 29, 2023 |  | September 30, 2022
Deferred income(1) |  | $ | 360,936 |  |  | $ | 346,954 |
Accrued client expenses |  | 212,303 |  |  | 172,894 |
Accrued taxes |  | 91,971 |  |  | 58,988 |
Accrued insurance(2) and interest |  | 194,830 |  |  | 184,676 |
Other |  | 501,826 |  |  | 408,559 |
|  | $ | 1,361,866 |  |  | $ | 1,172,071 |
(1) | Includes consideration received in advance from customers prior to the service being performed ($340.6 million and $324.5 million) or from vendors prior to the goods being consumed ($20.3 million and $22.4 million) in fiscal 2023 and fiscal 2022, respectively.
(2) | The Company is self-insured for certain obligations related to its employee health care benefit programs as well as for certain risks retained under its general liability, automobile liability, workers’ compensation liability and certain property damage programs. Reserves are estimated through actuarial methods, with the assistance of third-party actuaries using loss development assumptions based on the Company's claims history.
Schedule of Deferred Income Taxes and Other Noncurrent Liabilities | Deferred Income Taxes and Other Noncurrent Liabilities The following table presents details of "Deferred Income Taxes and Other Noncurrent Liabilities" as presented in the Consolidated Balance Sheets (in thousands):
|  | September 29, 2023 |  | September 30, 2022
Deferred income taxes (see Note 10) |  | $ | 610,470 |  |  | $ | 501,404 |
Deferred compensation |  | 211,892 |  |  | 211,703 |
Pension-related liabilities |  | 11,205 |  |  | 11,775 |
Insurance reserves(1) |  | 147,641 |  |  | 141,104 |
Other noncurrent liabilities(2) |  | 180,597 |  |  | 240,601 |
|  | $ | 1,161,805 |  |  | $ | 1,106,587 |
(1) | The Company is self-insured for certain obligations for certain risks retained under its general liability, automobile liability, workers’ compensation liability and certain property damage programs. Reserves are estimated through actuarial methods, with the assistance of third-party actuaries using loss development assumptions based on the Company's claims history.
(2) | Fiscal 2022 includes the contingent consideration liabilities related to the Union Supply Group, Inc. acquisition ($45.8 million) and Next Level acquisition ($48.4 million) (see Note 16).
Schedule of Cash Flow, Supplemental Disclosures | Supplemental Cash Flow Information
|  | Fiscal Year Ended
(in millions) |  | September 29, 2023 |  | September 30, 2022 |  | October 1, 2021
Interest paid |  | $ | 410.5 |  |  | $ | 333.3 |  |  | $ | 369.7 |
Income taxes paid (refunded) |  | 47.0 |  |  | 16.2 |  |  | (104.9) |

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