Derivative Instruments (Tables)

12 Months Ended

Oct. 03, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Gross Fair Value of Derivative Positions

The Company’s derivative positions measured at fair value are summarized in the following tables:

	As of October 3, 2020
	Current Assets		Other Assets		Other Current Liabilities		Other Long- Term Liabilities
Derivatives designated as hedges
Foreign exchange	$	184	$	132	$	(77)	$	(273)
Interest rate	—		515		(4)		—
Other	1		—		(15)		(4)
Derivatives not designated as hedges
Foreign exchange	53		136		(98)		(101)
Interest Rate	—		—		—		—
Other	—		—		(3)		—
Gross fair value of derivatives	238		783		(197)		(378)
Counterparty netting	(143)		(378)		184		338
Cash collateral (received) paid	(26)		(142)		—		9
Net derivative positions	$	69	$	263	$	(13)	$	(31)

	As of September 28, 2019
	Current Assets		Other Assets		Other Current Liabilities		Other Long- Term Liabilities
Derivatives designated as hedges
Foreign exchange	$	302	$	241	$	(67)	$	(244)
Interest rate	—		89		(82)		—
Other	1		—		(3)		(1)
Derivatives not designated as hedges
Foreign exchange	65		163		(107)		(126)
Interest Rate	—		—		—		(11)
Gross fair value of derivatives	368		493		(259)		(382)
Counterparty netting	(231)		(345)		258		318
Cash collateral (received) paid	(55)		(6)		—		7
Net derivative positions	$	82	$	142	$	(1)	$	(57)

Carrying Amount and Cumulative Basis Adjustments for Fair Value Hedges Recorded on the Balance Sheet

The following table summarizes fair value hedge adjustments to hedged borrowings:

	Carrying Amount of Hedged Borrowings(1)				Fair Value Adjustments Included in Hedged Borrowings(1)
	October 3, 2020		September 28, 2019		October 3, 2020		September 28, 2019
Borrowings:
Current	$	753	$	1,121	$	4	$	(3)
Long-term	16,229		9,562		505		34
	$	16,982	$	10,683	$	509	$	31

(1)Includes $34 million and $37 million of gains on terminated interest rate swaps as of October 3, 2020 and September 28, 2019, respectively.

Adjustments Related to Fair Value Hedges Included in Net Interest Income/(Expense) in Consolidated Statements of Income

The following amounts are included in “Interest expense, net” in the Consolidated Statements of Operations:

	2020		2019		2018
Gain (loss) on:
Pay-floating swaps	$	479	$	337	$	(230)
Borrowings hedged with pay-floating swaps	(479)		(337)		230
Benefit (expense) associated with interest accruals on pay-floating swaps	28		(58)		(15)

Effect of foreign Exchange Cash Flow Hedges on AOCI

The following table summarizes the effect of foreign exchange cash flow hedges on AOCI:

	2020		2019
Gain (loss) recognized in Other Comprehensive Income	$	(63)	$	156
Gain (loss) reclassified from AOCI into the Statement of Operations(1)	269		183

(1)Primarily recorded in revenue.

Net Gains or Losses Recognized in Costs and Expenses on Economic Exposures Associated with Foreign Currency Exchange Rates

The following table summarizes the net foreign exchange gains or losses recognized on foreign currency denominated assets and liabilities and the net foreign exchange gains or losses on the foreign exchange contracts we entered into to mitigate our exposure with respect to foreign currency denominated assets and liabilities by the corresponding line item in which they are recorded in the Consolidated Statements of Operations:

	Costs and Expenses						Interest expense, net						Income Tax Expense
	2020		2019		2018		2020		2019		2018		2020		2019		2018
Net gains (losses) on foreign currency denominated assets and liabilities	$	10	$	(188)	$	(146)	$	1	$	16	$	39	$	(35)	$	50	$	29
Net gains (losses) on foreign exchange risk management contracts not designated as hedges	(56)		123		104		—		(19)		(46)		33		(51)		(19)
Net gains (losses)	$	(46)	$	(65)	$	(42)	$	1	$	(3)	$	(7)	$	(2)	$	(1)	$	10