Financial Instruments (Tables)

9 Months Ended

Jun. 26, 2020

Cash flow hedges

Schedule of impacts of hedging program

	For the				For the
	Quarters Ended				Nine Months Ended
	June 26,		June 28,		June 26,		June 28,
	2020		2019		2020		2019
	(in millions)
Gains recorded in other comprehensive income (loss)	$	—	$	10	$	32	$	42
Gains (losses) excluded from the hedging relationship(1)		(14)		(16)		(19)		22

(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			Nine Months Ended
	June 26,		June 28,		June 26,		June 28,
	2020		2019		2020		2019
	(in millions)
Foreign currency exchange gains (losses) on intercompany loans and external borrowings(1)	$	(52)	$	(58)	$	(60)	$	54
Gains (losses) on cross-currency swap contracts designated as hedges of net investment(1)		(25)		(20)		(3)		17

(1) Recorded as currency translation, a component of accumulated other comprehensive income (loss).

Cross-currency swap contracts | Cash flow hedges

Summary of fair value of derivative instruments

	June 26,		September 27,
	2020		2019
	(in millions)
Other assets	$	25	$	19

Cross-currency swap contracts | Net investment hedges

Summary of fair value of derivative instruments

	June 26,		September 27,
	2020		2019
	(in millions)
Prepaid expenses and other current assets	$	16	$	27
Other assets		30		46
Accrued and other current liabilities		3		2
Other liabilities		2		1

Forward starting interest rate swap contracts | Cash flow hedges

Summary of fair value of derivative instruments

	June 26,		September 27,
	2020		2019
	(in millions)
Other liabilities	$	66	$	34

Schedule of impacts of hedging program

	For the				For the
	Quarters Ended				Nine Months Ended
	June 26,		June 28,		June 26,		June 28,
	2020		2019		2020		2019
	(in millions)
Losses recorded in other comprehensive income (loss)	$	—	$	(12)	$	(32)	$	(18)