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Leases (Notes)
 12 Months Ended
Sep. 27, 2025
Leases [Abstract]  
Supplemental Balance Sheet Disclosures
Supplemental balance sheet information related to lease liabilities is as follows:
Operating LeasesFinance Leases
2025202420252024
Weighted-average remaining lease term (in years)7 years6 years4 years5 years
Weighted-average discount rate5 %4 %5 %5 %
Lessee Leases LEASES
We lease certain equipment, buildings and land related to transportation, distribution, storage, production, livestock grower assets and office activities. These lease arrangements can be structured as a standard lease agreement or embedded in a service or supply agreement. For further description of our lease accounting policy, refer to Note 1: Business and Summary of Significant Accounting Policies. Operating lease ROU assets and liabilities presented in our Consolidated Balance Sheets were as follows as of September 27, 2025 and September 28, 2024 (in millions):
20252024
Other Assets$887 $710 
Other current liabilities201 173 
Other Liabilities664 521 
Finance lease ROU assets and liabilities presented in our Consolidated Balance Sheets were as follows as of September 27, 2025 and September 28, 2024 (in millions):
20252024
Net Property, Plant and Equipment$161 $122 
Current Debt55 36 
Long-term debt113 90 
The components of lease costs for fiscal years 2025, 2024 and 2023 were as follows (in millions):
202520242023
Operating lease cost (a)
$232 $178 $181 
Finance lease cost:
Amortization of right-of-use assets50 36 28 
Interest on lease liabilities7 4 2 
Variable lease cost (b)
545 527 531 
Short-term lease cost29 40 39 
Total$863 $785 $781 
(a) Sublease income is immaterial and not deducted from operating lease cost.
(b) Variable lease costs are determined based on volume of output received, flocks placed or other performance metrics.
Supplemental balance sheet information related to lease liabilities is as follows:
Operating LeasesFinance Leases
2025202420252024
Weighted-average remaining lease term (in years)7 years6 years4 years5 years
Weighted-average discount rate5 %4 %5 %5 %
Supplemental cash flow information related to lease liabilities is as follows (in millions):
202520242023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash outflows from operating leases$231 $200 $191 
Operating cash outflows from finance leases6 4 2 
Financing cash outflows from finance leases 77 51 38 
ROU assets obtained in exchange for lease liabilities
Operating leases402 360 288 
Finance leases117 82 43 
At September 27, 2025, future maturities of operating and finance leases were as follows (in millions):
Operating Lease CommitmentsFinance Lease Commitments
2026$232 $62 
2027180 48 
2028141 34 
2029115 16 
203092 7 
2031 and beyond268 20 
Total undiscounted lease payments$1,028 $187 
Less: Imputed interest163 19 
Present value of total lease liabilities$865 $168 
At September 27, 2025, our leases that had not yet commenced were not significant.