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Sales of Receivables (Tables)

12 Months Ended

Sep. 27, 2024

Transfers and Servicing of Financial Assets [Abstract]

Summary of MARPA Activity

The Company's MARPA activity consisted of the following (in millions):

						As of and for the Year Ended September 27, 2024
Beginning balance:									$	—
Sales of receivables						1,574
Cash collections						(1,397)
Outstanding balance sold to Purchaser (1)						177
Cash collected, not remitted to Purchaser (2)						(39)
Remaining sold receivables						$	138

(1)    For the year ended September 27, 2024, the Company recorded a net cash inflow of $177 million in its cash flows from operating activities, respectively, from sold receivables. MARPA cash flows are calculated as the change in the outstanding balance during the fiscal year.

(2)    Includes the cash collected on behalf of but not yet remitted to the Purchaser as of September 27, 2024. This balance is included in Other accrued liabilities as of the balance sheet date.

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- Definition

Tabular disclosure of derecognized financial assets from transactions which comprise an initial transfer and an agreement entered into in contemplation of the initial transfer resulting in retention of substantially all of the exposure to the economic return throughout the term of the transaction.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 4D
-SubTopic 20
-Topic 860
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481326/860-20-50-4D

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- References

No definition available.

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