Derivative Instruments (Tables)

3 Months Ended

Dec. 31, 2022

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 December 31, 2022
	Current Assets		Other Assets		Other Current Liabilities		Other Long- Term Liabilities
Derivatives designated as hedges
Foreign exchange	$	559	$	365	$	(234)	$	(221)
Interest rate	—		—		(1,722)		—
Other	8		1		(3)		—
Derivatives not designated as hedges
Foreign exchange	208		1		(378)		(1)
Other	—		—		(14)		—
Gross fair value of derivatives	775		367		(2,351)		(222)
Counterparty netting	(653)		(264)		804		113
Cash collateral (received) paid	(63)		(22)		1,491		72
Net derivative positions	$	59	$	81	$	(56)	$	(37)

	As of October 1, 2022
	Current Assets		Other Assets		Other Current Liabilities		Other Long- Term Liabilities
Derivatives designated as hedges
Foreign exchange	$	864	$	786	$	(228)	$	(350)
Interest rate	—		1		(1,783)		—
Other	10		—		(4)		—
Derivatives not designated as hedges
Foreign exchange	336		247		(374)		(287)
Other	—		—		(27)		—
Gross fair value of derivatives	1,210		1,034		(2,416)		(637)
Counterparty netting	(831)		(715)		1,070		476
Cash collateral (received) paid	(341)		(151)		1,282		96
Net derivative positions	$	38	$	168	$	(64)	$	(65)

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				Fair Value Adjustments Included in Hedged Borrowings
	December 31, 2022		October 1, 2022		December 31, 2022		October 1, 2022
Borrowings:
Current	$	—	$	997	$	—	$	(3)
Long-term	12,465		12,358		(1,666)		(1,733)
	$	12,465	$	13,355	$	(1,666)	$	(1,736)

Adjustments Related to Fair Value Hedges Included in Interest Expense, net in the Consolidated Statements of Income

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

	Quarter Ended
	December 31, 2022		January 1, 2022
Gain (loss) on:
Pay-floating swaps	$	71	$	(178)
Borrowings hedged with pay-floating swaps	(71)		178
Benefit (expense) associated with interest accruals on pay-floating swaps	(95)		37

Effect of Foreign Exchange Cash Flow Hedges on AOCI

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

	Quarter Ended
	December 31, 2022		January 1, 2022
Gain (loss) recognized in Other Comprehensive Income	$	(502)	$	79
Gain (loss) reclassified from AOCI into the Statements of Operations(1)	222		13

(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 Condensed Consolidated Statements of Income:

	Costs and Expenses				Interest expense, net				Income Tax Expense
Quarter Ended:	December 31, 2022		January 1, 2022		December 31, 2022		January 1, 2022		December 31, 2022		January 1, 2022
Net gains (losses) on foreign currency denominated assets and liabilities	$	145	$	(63)	$	(18)	$	1	$	(88)	$	8
Net gains (losses) on foreign exchange risk management contracts not designated as hedges	(213)		33		18		—		70		(8)
Net gains (losses)	$	(68)	$	(30)	$	—	$	1	$	(18)	$	—