v3.23.1
Derivative Instruments (Tables)
 6 Months Ended
Apr. 01, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Gross Fair Value of Derivative Positions
The Company’s derivative positions measured at fair value are summarized in the following tables:
 As of April 1, 2023
 Current
Assets		Other AssetsOther Current LiabilitiesOther Long-
Term
Liabilities
Derivatives designated as hedges
Foreign exchange$518 $326 $(229)$(90)
Interest rate— — (1,523)— 
Other3    1    (5)   (1)   
Derivatives not designated as hedges
Foreign exchange226 4 (424)(64)
Other18 — — — 
Gross fair value of derivatives765 331 (2,181)(155)
Counterparty netting(630)(221)760 91 
Cash collateral (received) paid(55)(5)1,382 51 
Net derivative positions $80 $105 $(39)$(13)
 As of October 1, 2022
 Current
Assets		Other AssetsOther Current LiabilitiesOther Long-
Term
Liabilities
Derivatives designated as hedges
Foreign exchange$864 $786 $(228)$(350)
Interest rate— 1 (1,783)— 
Other10    —    (4)   —    
Derivatives not designated as hedges
Foreign exchange336 247 (374)(287)
Other— — (27)— 
Gross fair value of derivatives1,210 1,034 (2,416)(637)
Counterparty netting(831)(715)1,070 476 
Cash collateral (received) paid(341)(151)1,282 96 
Net derivative positions $38 $168 $(64)$(65)
Carrying Amount and Cumulative Basis Adjustments for Fair Value Hedges Recorded on the Balance Sheet The following table summarizes fair value hedge adjustments to hedged borrowings:
Carrying Amount of Hedged BorrowingsFair Value Adjustments Included
in Hedged Borrowings
April 1,
2023		October 1, 2022April 1,
2023		October 1, 2022
Borrowings:
Current$—    $997    $—    $(3)   
Long-term12,708 12,358 (1,431)(1,733)
$12,708 $13,355 $(1,431)$(1,736)
Adjustments Related to Fair Value Hedges Included in Interest Expense, net in the Consolidated Statements of Income The following amounts are included in “Interest expense, net” in the Condensed Consolidated Statements of Income:
 Quarter EndedSix Months Ended
 April 1,
2023		April 2,
2022		April 1,
2023		April 2,
2022
Gain (loss) on:
Pay-floating swaps$235 $(741)$306 $(919)
Borrowings hedged with pay-floating swaps(235)  741   (306)  919   
Benefit (expense) associated with interest accruals on pay-floating swaps(125)33 (220)70 
Effect of Foreign Exchange Cash Flow Hedges on AOCI The following table summarizes the effect of foreign exchange cash flow hedges on AOCI:
Quarter EndedSix Months Ended
April 1,
2023		April 2,
2022		April 1,
2023		April 2,
2022
Gain (loss) recognized in Other Comprehensive Income$15 $42 $(487)$121 
Gain (loss) reclassified from AOCI into the Statements of Operations(1)
116    13    338    26    
(1)Primarily recorded in revenue.
Net Gains or Losses Recognized in Costs and Expenses on Economic Exposures Associated with Foreign Currency Exchange Rates The following table summarizes the net foreign exchange gains or losses recognized on foreign currency denominated assets and liabilities and the net foreign exchange gains or losses on the foreign exchange contracts we entered into to mitigate our exposure with respect to foreign currency denominated assets and liabilities by the corresponding line item in which they are recorded in the Condensed Consolidated Statements of Income:
 Costs and ExpensesInterest expense, netIncome Tax Expense
Quarter Ended:April 1,
2023		April 2,
2022		April 1,
2023		April 2,
2022		April 1,
2023		April 2,
2022
Net gains (losses) on foreign currency denominated assets and liabilities$15 $(82)$(2)$(13)$(21)$37 
Net gains (losses) on foreign exchange risk management contracts not designated as hedges(47)  37   1   10   17   (35)  
Net gains (losses)$(32)$(45)$(1)$(3)$(4)$2 
Six Months Ended:
Net gains (losses) on foreign currency denominated assets and liabilities$160 $(145)$(20)$(12)$(109)$45 
Net gains (losses) on foreign exchange risk management contracts not designated as hedges(260)70 19 10 87 (43)
Net gains (losses)$(100)$(75)$(1)$(2)$(22)$2