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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Dec. 30, 2023
Dec. 31, 2022
OPERATING ACTIVITIES:    
NET INCOME $ 382 $ 229
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 36 29
Amortization of intangible assets and product certification costs 35 34
Amortization of debt issuance costs, original issue discount and premium 11 9
Amortization of inventory step-up 1 2
Amortization of loss contract reserves (5) (12)
Refinancing costs 0 4
Non-cash stock and deferred compensation expense 51 35
Foreign currency exchange losses 14 18
Changes in assets/liabilities, net of effects from acquisitions and sales of businesses:    
Trade accounts receivable 94 121
Inventories (78) (89)
Income taxes payable 94 77
Other assets 3 (2)
Accounts payable (21) (13)
Accrued interest 82 3
Accrued and other liabilities (63) (68)
Net cash provided by operating activities 636 377
INVESTING ACTIVITIES:    
Capital expenditures (36) (31)
Acquisition of businesses, net of cash acquired (14) (10)
Net cash used in investing activities (50) (41)
FINANCING ACTIVITIES:    
Proceeds from exercise of stock options 52 27
Dividends and dividend equivalent payments (2,038) (38)
Proceeds from issuance of senior secured notes, net 983 0
Proceeds from term loans, net 988 1,690
Proceeds from trade receivable securitization facility, net 100 0
Repayment on term loans (16) (1,739)
Financing costs and other, net (2) (5)
Net cash provided by (used in) financing activities 67 (65)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 10 16
NET INCREASE IN CASH AND CASH EQUIVALENTS 663 287
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 3,472 3,001
CASH AND CASH EQUIVALENTS, END OF PERIOD 4,135 3,288
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid during the period for interest, net 205 272
Cash paid (refunded) during the period for income taxes, net of refunds $ 11 $ (2)