v3.24.3
Derivative Instruments (Tables)
 12 Months Ended
Sep. 28, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Gross Fair Value of Derivative Positions
The Company’s derivative positions measured at fair value (see Note 16) are summarized in the following tables:
 As of September 28, 2024
 Current
Assets
Investments/Other
Assets
Other
Current
Liabilities		Other Long-
Term
Liabilities
Derivatives designated as hedges
Foreign exchange$273  $184  $(164) $(149) 
Interest rate—  —  (983) —  
Other—  —  (7) (1) 
Derivatives not designated as hedges
Foreign exchange110  2  (273) (2) 
Other18  94  —  —  
Gross fair value of derivatives401  280  (1,427) (152) 
Counterparty netting(330) (182) 396  116  
Cash collateral (received) paid(27) —  679  —  
Net derivative positions$44  $98  $(352) $(36) 
 As of September 30, 2023
 Current
Assets
Investments/Other
Assets
Other
Current
Liabilities		Other Long-
Term
Liabilities
Derivatives designated as hedges
Foreign exchange$595  $338  $(123) $(93) 
Interest rate—  —  (1,791) —  
Other12  6  —  —  
Derivatives not designated as hedges
Foreign exchange384  19  (520) (79) 
Other— 128 (13)— 
Gross fair value of derivatives991  491  (2,447) (172) 
Counterparty netting(770) (262) 900  132  
Cash collateral (received) paid(123) (7) 1,257  —  
Net derivative positions$98  $222  $(290) $(40) 
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
September 28, 2024September 30, 2023September 28, 2024September 30, 2023
Borrowings:
Current$1,414  $1,439  $(10) $(59) 
Long-term10,128  10,748  (913) (1,694) 
$11,542  $12,187  $(923) $(1,753) 
Adjustments Related to Fair Value Hedges Included in Net Interest Income/(Expense) in Consolidated Statements of Income
The following amounts are included in “Interest expense, net” in the Consolidated Statements of Income:
 202420232022
Gain (loss) on:
Pay-floating swaps$799  $(14) $(1,635) 
Borrowings hedged with pay-floating swaps(799) 14  1,635  
Benefit (expense) associated with interest accruals on pay-floating swaps
(611) (510) 31  
Effect of foreign Exchange Cash Flow Hedges on AOCI The following table summarizes the effect of foreign exchange cash flow hedges on AOCI:
202420232022
Gain (loss) recognized in Other Comprehensive Income
$(97) $(136) $1,093  
Gain (loss) reclassified from AOCI into the Statement of Operations(1)
472  446  116  
(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 Consolidated Statements of Income:
Costs and expenses
Interest expense, net
Income taxes on continuing operations
202420232022202420232022202420232022
Net gains (losses) on foreign currency denominated assets and liabilities
$(63) $(37) $(685) $(6) $(15) $82  $(65) $(91) $212  
Net gains (losses) on foreign exchange risk management contracts not designated as hedges
(72) (159) 547  (6) 10  (82) 42  64  (208) 
Net gains (losses)
$(135) $(196) $(138) $(12) $(5) $—  $(23) $(27) $4