Derivative Instruments (Tables)

3 Months Ended

Dec. 28, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Gross Fair Value of Derivative Positions

The Company’s derivative positions measured at fair value (see Note 14) are summarized in the following tables:

	As of December 28, 2024
	Current Assets		Investments/ Other Assets		Other Current Liabilities		Other Long- Term Liabilities
Derivatives designated as hedges
Foreign exchange	$	586	$	323	$	(176)	$	(139)
Interest rate	—		—		(1,239)		—
Other	—		—		(5)		—
Derivatives not designated as hedges
Foreign exchange	216		2		(210)		(2)
Other	—		100		(12)		—
Gross fair value of derivatives	802		425		(1,642)		(141)
Counterparty netting	(618)		(239)		722		135
Cash collateral (received) paid	(74)		—		675		—
Net derivative positions	$	110	$	186	$	(245)	$	(6)

	As of September 28, 2024
	Current Assets		Investments/ Other Assets		Other Current Liabilities		Other Long- Term Liabilities
Derivatives designated as hedges
Foreign exchange	$	273	$	184	$	(164)	$	(149)
Interest rate	—		—		(983)		—
Other	—		—		(7)		(1)
Derivatives not designated as hedges
Foreign exchange	110		2		(273)		(2)
Other	18		94		—		—
Gross fair value of derivatives	401		280		(1,427)		(152)
Counterparty netting	(330)		(182)		396		116
Cash collateral (received) paid	(27)		—		679		—
Net derivative positions	$	44	$	98	$	(352)	$	(36)

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 28, 2024		September 28, 2024		December 28, 2024		September 28, 2024
Borrowings:
Current	$	495	$	1,414	$	(5)	$	(10)
Long-term	9,874		10,128		(1,109)		(913)
	$	10,369	$	11,542	$	(1,114)	$	(923)

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 28, 2024		December 30, 2023
Gain (loss) on:
Pay-floating swaps	$	(195)	$	432
Borrowings hedged with pay-floating swaps	195		(432)
Expense associated with interest accruals on pay-floating swaps	(111)		(154)

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 28, 2024		December 30, 2023
Gain (loss) recognized in Other Comprehensive Income	$	562	$	(264)
Gain reclassified from AOCI into the Statements of Operations(1)	89		141

(1)Primarily recorded in revenue.