Financial Instruments and Fair Value Measurements (Tables)

9 Months Ended

Jul. 03, 2021

Financial Instruments and Fair Value Measurements [Abstract]

Fair Value of Derivatives and Location on Consolidated Balance Sheets

The Company records the fair value positions of all derivative financial instruments on a net basis by counterparty for which a master netting arrangement is utilized. Balances on a gross basis are as follows:

Derivative Instruments	Hedge Designation	Balance Sheet Location	July 3, 2021		September 26, 2020
Cross-currency swaps	Designated	Other long-term liabilities	$	419	$	270
Interest rate swaps	Designated	Other long-term liabilities		92		226
Interest rate swaps	Not designated	Other long-term liabilities		53		—

Effect of Derivatives on Consolidated Statements of Income

The effect of the Company’s derivative instruments on the Consolidated Statements of Income is as follows:

		Quarterly Period Ended						Three Quarterly Periods Ended
Derivative Instruments	Statements of Income Location	July 3, 2021			June 27, 2020			July 3, 2021			June 27, 2020
Cross-currency swaps	Interest expense, net	$	(2	)	$	(2	)	$	(6	)	$	(5	)
Interest rate swaps	Interest expense, net		18			13			52			17

Assets Measured at Fair Value on Non-recurring Basis

Included in the following table are the major categories of assets measured at fair value on a non-recurring basis as of July 3, 2021 and September 26, 2020, along with the impairment loss recognized on the fair value measurement during the period:

	As of July 3, 2021
	Level 1		Level 2		Level 3		Total		Impairment
Indefinite-lived trademarks	$	—	$	—	$	248	$	248	$	—
Goodwill		—		—		5,265		5,265		—
Definite lived intangible assets		—		—		2,086		2,086		—
Property, plant, and equipment		—		—		4,731		4,731		1
Total	$	—	$	—	$	12,330	$	12,330	$	1

	As of September 26, 2020
	Level 1		Level 2		Level 3		Total		Impairment
Indefinite-lived trademarks	$	—	$	—	$	248	$	248	$	—
Goodwill		—		—		5,173		5,173		—
Definite lived intangible assets		—		—		2,249		2,249		—
Property, plant, and equipment		—		—		4,561		4,561		2
Total	$	—	$	—	$	12,231	$	12,231	$	2