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Retirement Plans
 12 Months Ended
Oct. 03, 2025
Retirement Benefits [Abstract]  
Retirement Plans Retirement Plans
Defined Contribution Plans
The Company sponsors various participant-directed, defined contribution, 401(k) savings plans for the benefit of employees that meet certain eligibility requirements. The total expense for the defined contribution plans was $95 million, $55 million and $54 million for the years ended October 3, 2025, September 27, 2024 and September 29, 2023, respectively.
Deferred Compensation Plans
The Company has non-qualified deferred compensation programs which provide benefits payable to directors, officers, and certain key employees or their designated beneficiaries at specified future dates, upon retirement or death. The plans are
unfunded and benefits are paid from the general assets of the Company. Participants’ cash deferrals earn a return based on the participants’ selection of investments in several hypothetical investment options.
Defined Benefit Pension Plans
The Company sponsors various postretirement benefit plans in the United States including defined benefit pension plans (“Defined Benefit Pension Plans”). The Defined Benefit Pension Plans are closed to new participants and benefits are generally based on the employee’s years of creditable service and compensation. The Defined Benefit Pension Plans benefit obligations and the fair value of the plan assets were measured as of October 3, 2025.
The following tables provide reconciliations of the changes in the Defined Benefit Pension Plans benefit obligations, reconciliations of the changes in the fair value of assets for the years ended October 3, 2025, September 27, 2024 and September 29, 2023 and reconciliations of the funded status as of October 3, 2025 and September 27, 2024.
For the years ended
(Amounts in millions)
October 3, 2025September 27, 2024September 29, 2023
Change in benefit obligation
Benefit obligation at beginning of period$313 $292 $310 
Interest cost14 17 16 
Benefits paid from the plans(21)(22)(21)
Actuarial (gain) loss(10)26 (13)
Benefit obligation at end of period$296 $313 $292 

For the years ended
(Amounts in millions)
October 3, 2025September 27, 2024September 29, 2023
Change in plan assets
Fair value of plan assets at beginning of period$315 $281 $271 
Actual return on plan assets11 55 30 
Employer contributions to plans— 1 — 
Benefits paid from the plans(21)(22)(20)
Fair value of plan assets at end of period$305 $315 $281 

The benefit obligation remained materially consistent with the accumulated benefit obligation for each of the fiscal years ended October 3, 2025 and September 27, 2024. The net amount recognized within Other long-term assets as of October 3, 2025 and September 27, 2024 was $9 million and $2 million, respectively.
As of October 3, 2025 and September 27, 2024, the fair values of the Defined Benefit Pension Plan by major asset categories were as follows:
October 3, 2025September 27, 2024
Carrying ValueQuoted Prices in Active Markets (Level 1)Significant Other
Observable Inputs
(Level 2)		Carrying ValueQuoted Prices in Active Markets (Level 1)
(Amounts in millions)
Investments measured at fair value
Cash and cash equivalents$9 $9 $— $6 $6 
Investment funds
Fixed income funds233 50 183 128 128 
Total investments measured at fair value$242 $59 $183 $134 $134 
Investments measured at NAV
Investment funds
Common collective funds - debt$— $87 
Diversified and equity funds63 94 
Total investments measured at NAV63 181 
Total$305 $315 
Cash equivalents are mostly comprised of short‑term money‑market instruments and are valued at cost, which approximates fair value. Fixed income investment funds categorized as Level 1 are publicly traded on an active exchange. Fixed income funds, not traded on an active exchange, categorized as Level 2 are valued using pricing models that use verifiable observable market data (e.g., interest rates and yield curves observable at commonly quoted intervals), bids provided by brokers or dealers, or quoted prices of securities with similar characteristics. Common collective funds are valued based on net asset value (“NAV”) per share or unit as a practical expedient as reported by the fund manager, multiplied by the number of shares or units held as of the measurement date. Accordingly, these NAV‑based investments have been excluded from the fair value hierarchy. These collective investment funds have minimal redemption notice periods and are redeemable daily at the NAV, less transaction fees, without significant restrictions. There are no significant unfunded commitments related to these investments.
The Company may make discretionary contributions. The required minimum contributions and the expected annual future benefit payments for the Defined Benefit Pension Plans are not significant.
Multiemployer Pension Plans
We are subject to several collective-bargaining agreements (“CBAs”) that require contributions to a multiemployer defined benefit pension plan that covers its union-represented employees. These plans are not significant for the years ended October 3, 2025, September 27, 2024 and September 29, 2023.