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Fair Value of Financial Assets and Liabilities
 12 Months Ended
Sep. 27, 2024
Fair Value Disclosures [Abstract]  
Fair Value of Financial Assets and Liabilities Fair Value of Financial Assets and Liabilities
ASC 820 — Fair Value Measurements and Disclosures establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include:
•Level 1, defined as observable inputs such as quoted prices in active markets;
•Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and
•Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.
The following table summarizes the financial assets and liabilities measured at fair value on a recurring basis and the level they fall within the fair value hierarchy (in millions):
Fair Value
DescriptionClassificationFair Value HierarchySeptember 27, 2024September 29, 2023
Interest rate swapsPrepaid expenses and other current assetsLevel 2$8 $56 
Interest rate swapsOther long-term assetsLevel 21 20 
Interest rate swapsOther accrued liabilitiesLevel 2(3)— 
Interest rate swapsOther long-term liabilitiesLevel 2(13)—