Other Income (Expense), Net

9 Months Ended

Jul. 01, 2023

Other Income and Expenses [Abstract]

Other Income and Other Expense Disclosure [Text Block]

Other Income (Expense), net

Other income (expense), net is as follows:

	Quarter Ended				Nine Months Ended
	July 1, 2023		July 2, 2022		July 1, 2023		July 2, 2022
DraftKings gain (loss)	$	90	$	(136)	$	169	$	(726)
Other, net	(101)		—		(73)		(4)
Other income (expense), net	$	(11)	$	(136)	$	96	$	(730)

For the quarter and nine months ended July 1, 2023, the Company recognized a gain of $90 million and $169 million, respectively, on its investment in DraftKings, Inc. (DraftKings), which was sold in the current quarter. “Other, net” for the quarter and nine months ended July 1, 2023 includes a charge of $101 million related to a legal ruling. For the prior-year quarter and nine months ended July 2, 2022, the Company recognized a non-cash loss of $136 million and $726 million, respectively, to adjust its investment in DraftKings to fair value.