Financial Instruments and Fair Value Measurements (Tables)

9 Months Ended

Jul. 01, 2023

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 1, 2023		October 1, 2022
Cross-currency swaps	Designated	Other assets	$	—	$	147
Cross-currency swaps	Designated	Other current liabilities		116		—
Cross-currency swaps	Designated	Other long-term liabilities		24		—
Interest rate swaps	Designated	Other assets		19		11
Interest rate swaps	Designated	Other long-term liabilities		4		3
Interest rate swaps	Not designated	Other long-term liabilities		104		117

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 1, 2023			July 2, 2022			July 1, 2023			July 2, 2022
Cross-currency swaps	Interest expense	$	(10	)	$	(5	)	$	(31	)	$	(12	)
Interest rate swaps	Interest expense		(21	)		11			(38	)		35

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 1, 2023 and October 1, 2022, along with the impairment loss recognized on the fair value measurement during the period:

	As of July 1, 2023
	Level 1		Level 2		Level 3		Total		Impairment
Indefinite-lived trademarks	$	—	$	—	$	248	$	248	$	—
Goodwill		—		—		5,050		5,050		—
Definite lived intangible assets		—		—		1,532		1,532		—
Property, plant, and equipment		—		—		4,651		4,651		5
Total	$	—	$	—	$	11,481	$	11,481	$	5

	As of October 1, 2022
	Level 1		Level 2		Level 3		Total		Impairment
Indefinite-lived trademarks	$	—	$	—	$	247	$	247	$	—
Goodwill		—		—		4,832		4,832		—
Definite lived intangible assets		—		—		1,606		1,606		—
Property, plant, and equipment		—		—		4,342		4,342		—
Total	$	—	$	—	$	11,027	$	11,027	$	—