v3.24.3
Equity
 12 Months Ended
Sep. 28, 2024
Equity [Abstract]  
Equity Equity
Dividends
On February 7, 2024, the Board of Directors declared a cash dividend of $0.45 per share ($0.8 billion) with respect to the first half of fiscal 2024, which was paid in July 2024 to shareholders of record as of July 8, 2024.
On November 30, 2023, the Board of Directors declared a cash dividend of $0.30 per share ($0.5 billion) with respect to the second half of fiscal 2023, which was paid in January 2024 to shareholders of record as of December 11, 2023.
The Company did not declare or pay a dividend with respect to fiscal 2022 operations.
Share Repurchase Program
Effective February 7, 2024, the Board of Directors authorized the Company to repurchase a total of 400 million shares of its common stock. During the year ended September 28, 2024, the Company repurchased 28 million shares of its common stock for $3.0 billion (excluding the one percent excise tax on stock repurchases imposed by the Inflation Reduction Act of 2022). As of September 28, 2024, the Company had remaining authorization in place to repurchase approximately 372 million additional shares. The repurchase program does not have an expiration date.
The following table summarizes the changes in each component of accumulated other comprehensive income (loss) (AOCI) including our proportional share of equity method investee amounts:
 Market Value
Adjustments
for Hedges		Unrecognized
Pension and 
Postretirement
Medical 
Expense		Foreign
Currency
Translation
and Other		AOCI
AOCI, before tax
Balance at October 2, 2021$(152) $(7,025) $(1,047) $(8,224) 
Unrealized gains (losses) arising during the period
1,098  2,635  (967) 2,766  
Reclassifications of net (gains) losses to net income(142) 620  —  478  
Balance at October 1, 2022$804  $(3,770) $(2,014) $(4,980) 
Unrealized gains (losses) arising during the period(101) 1,594  (2) 1,491  
Reclassifications of net (gains) losses to net income(444) 4  42  (398) 
Balance at September 30, 2023$259  $(2,172) $(1,974) $(3,887) 
Unrealized gains (losses) arising during the period
(112) 25  119  32  
Reclassifications of net (gains) losses to net income
(466) (96) —  (562) 
Balance at September 28, 2024$(319) $(2,243) $(1,855) $(4,417) 
 Market Value
Adjustments
for Hedges		Unrecognized
Pension and 
Postretirement
Medical 
Expense		Foreign
Currency
Translation
and Other		AOCI
Tax on AOCI
Balance at October 2, 2021$42  $1,653  $89  $1,784  
Unrealized gains (losses) arising during the period
(254) (608) 50  (812) 
Reclassifications of net (gains) losses to net income33  (144) —  (111) 
Balance at October 1, 2022$(179) $901  $139  $861  
Unrealized gains (losses) arising during the period
12  (384) 17  (355) 
Reclassifications of net (gains) losses to net income
103  —  (14) 89  
Balance at September 30, 2023$(64) $517  $142  $595  
Unrealized gains (losses) arising during the period
27  (10) (26) (9) 
Reclassifications of net (gains) losses to net income
108  24  —  132  
Balance at September 28, 2024$71  $531  $116  $718  
 Market Value
Adjustments
for Hedges		Unrecognized
Pension and 
Postretirement
Medical 
Expense		Foreign
Currency
Translation
and Other		AOCI
AOCI, after tax
Balance at October 2, 2021$(110) $(5,372) $(958) $(6,440) 
Unrealized gains (losses) arising during the period
844  2,027  (917) 1,954  
Reclassifications of net (gains) losses to net income(109) 476  —  367  
Balance at October 1, 2022$625  $(2,869) $(1,875) $(4,119) 
Unrealized gains (losses) arising during the period
(89) 1,210  15  1,136  
Reclassifications of net (gains) losses to net income
(341) 4  28  (309) 
Balance at September 30, 2023$195  $(1,655) $(1,832) $(3,292) 
Unrealized gains (losses) arising during the period
(85) 15  93  23  
Reclassifications of net (gains) losses to net income
(358) (72) —  (430) 
Balance at September 28, 2024$(248) $(1,712) $(1,739) $(3,699) 
Details about AOCI components reclassified to net income are as follows:
Gains (losses) in net income:
Affected line item in the Consolidated Statements of Operations:202420232022
Market value adjustments, primarily cash flow hedges
Primarily revenue$466  $444  $142  
Estimated taxIncome taxes(108) (103) (33) 
358  341  109  
Pension and postretirement medical expense
Interest expense, net96  (4) (620) 
Estimated taxIncome taxes(24) —  144  
72  (4) (476) 
Foreign currency translation and other
Other income (expense), net—  (42) —  
Estimated tax
Income taxes—  14  —  
—  (28) —  
Total reclassifications for the period
$430  $309  $(367)