ACCUMULATED OTHER COMPREHENSIVE LOSS

3 Months Ended

Dec. 30, 2023

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

ACCUMULATED OTHER COMPREHENSIVE LOSS

The following table presents the total changes by component in accumulated other comprehensive loss (“AOCI”), net of taxes, for the thirteen week periods ended December 30, 2023 and December 31, 2022 (in millions):

	Unrealized (losses) gains on derivatives (1)		Pension and post-retirement benefit plans adjustment (2)		Foreign currency translation adjustment (3)		Total
Balance at September 30, 2023	$	143	$	2	$	(243)	$	(98)
Net current-period other comprehensive (loss) income (4)	(53)		—		91		38
Balance at December 30, 2023	$	90	$	2	$	(152)	$	(60)
Balance at September 30, 2022	$	123	$	(10)	$	(380)	$	(267)
Net current-period other comprehensive income (4)	22		—		137		159
Balance at December 31, 2022	$	145	$	(10)	$	(243)	$	(108)

(1)Represents unrealized (losses) gains on derivatives designated and qualifying as cash flow hedges, net of taxes, of ($18) million and $7 million for the thirteen week periods ended December 30, 2023 and December 31, 2022, respectively.

(2)There were no material pension liability adjustments, net of taxes, related to activity on the defined pension plan and postretirement benefit plan for the thirteen week periods ended December 30, 2023 and December 31, 2022.

(3)Represents gains (losses) resulting from foreign currency translation of financial statements, including gains (losses) from certain intercompany transactions, into U.S. dollars at the rates of exchange in effect at the balance sheet dates.

(4)Presented net of reclassifications out of AOCI into earnings, specifically net sales and interest expense-net, for realized (losses) gains on derivatives designated and qualifying as cash flow hedges of ($1) million (net of taxes of less than ($1) million) and $28 million (net of taxes of $9 million), respectively, for the thirteen week period ended December 30, 2023 and ($1) million (net of taxes of less than ($1) million) and $6 million (net of taxes of $2 million), respectively, for the thirteen week period ended December 31, 2022.