Debt

6 Months Ended

Mar. 29, 2025

Debt Disclosure [Abstract]

Debt

Debt

Commercial Paper

The Company issues unsecured short-term promissory notes pursuant to a commercial paper program. The Company uses net proceeds from the commercial paper program for general corporate purposes, including dividends and share repurchases. As of March 29, 2025 and September 28, 2024, the Company had $6.0 billion and $10.0 billion of commercial paper outstanding, respectively.

Term Debt

As of March 29, 2025 and September 28, 2024, the Company had outstanding fixed-rate notes with varying maturities for an aggregate carrying amount of $92.2 billion and $96.7 billion, respectively (collectively the “Notes”). As of March 29, 2025 and September 28, 2024, the fair value of the Company’s Notes, based on Level 2 inputs, was $80.9 billion and $88.4 billion, respectively.