Comprehensive Income

9 Months Ended

Jun. 26, 2021

The Company’s OCI consists of foreign currency translation adjustments from those subsidiaries not using the U.S. dollar as their functional currency, net deferred gains and losses on certain derivative instruments accounted for as hedges, and unrealized gains and losses on marketable debt securities classified as available-for-sale.

The following table shows the pre-tax amounts reclassified from AOCI into the Condensed Consolidated Statements of Operations, and the associated financial statement line items, for the three- and nine-month periods ended June 26, 2021 and June 27, 2020 (in millions):


		Three Months Ended				Nine Months Ended
Comprehensive Income Components	Financial Statement Line Items	June 26, 2021		June 27, 2020		June 26, 2021		June 27, 2020
Unrealized (gains)/losses on derivative instruments:
Foreign exchange contracts	Total net sales	$	60	$	(270)	$	478	$	(333)
	Total cost of sales	101		(362)		752		(521)
	Other income/(expense), net	(155)		(760)		(590)		(212)
Interest rate contracts	Other income/(expense), net	1		3		6		6
		7		(1,389)		646		(1,060)
Unrealized (gains)/losses on marketable debt securities	Other income/(expense), net	(70)		(14)		(284)		10
Total amounts reclassified from AOCI		$	(63)	$	(1,403)	$	362	$	(1,050)

The following table shows the changes in AOCI by component for the nine months ended June 26, 2021 (in millions):


	Cumulative Foreign Currency Translation		Unrealized Gains/Losses on Derivative Instruments		Unrealized Gains/Losses on Marketable Debt Securities		Total
Balances as of September 26, 2020	$	(1,375)	$	(877)	$	1,846	$	(406)
Other comprehensive income/(loss) before reclassifications	659		81		(783)		(43)
Amounts reclassified from AOCI	—		646		(284)		362
Tax effect	—		(130)		275		145
Other comprehensive income/(loss)	659		597		(792)		464
Balances as of June 26, 2021	$	(716)	$	(280)	$	1,054	$	58