Financial Instruments (Tables)

6 Months Ended

Mar. 27, 2020

Cash flow hedges

Schedule of impacts of hedging program

	For the				For the
	Quarters Ended				Six Months Ended
	March 27,		March 29,		March 27,		March 29,
	2020		2019		2020		2019
	(in millions)
Gains recorded in other comprehensive income (loss)	$	28	$	13	$	32	$	32
Gains (losses) excluded from the hedging relationship(1)		17		21		(5)		38

(1) Gains and losses excluded from the hedging relationship are recognized prospectively in selling, general, and administrative expenses and are offset by losses and gains generated as a result of re-measuring certain intercompany loans to the U.S. dollar.

Net investment hedges

Schedule of impacts of hedging program

		For the			For the
		Quarters Ended			Six Months Ended
	March 27,		March 29,		March 27,		March 29,
	2020		2019		2020		2019
	(in millions)
Foreign currency exchange gains (losses) on intercompany loans and external borrowings(1)	$	57	$	36	$	(8)	$	112
Gains on cross-currency swap contracts designated as hedges of net investment(2)		55		42		22		37

(1) Foreign currency exchange gains and losses on intercompany loans and external borrowings are recorded as currency translation, a component of accumulated other comprehensive income (loss), and are offset by changes attributable to the translation of the net investment.

(2) Gains and losses on cross-currency swap contracts designated as hedges of net investment are recorded as currency translation.

Cross-currency swap contracts | Cash flow hedges

Summary of fair value of derivative instruments

	March 27,		September 27,
	2020		2019
	(in millions)
Other assets	$	39	$	19

Cross-currency swap contracts | Net investment hedges

Summary of fair value of derivative instruments

	March 27,		September 27,
	2020		2019
	(in millions)
Prepaid expenses and other current assets	$	23	$	27
Other assets		50		46
Accrued and other current liabilities		2		2
Other liabilities		—		1