Income Taxes (Tables)

12 Months Ended

Sep. 29, 2024

Income Tax Disclosure [Abstract]

Components of Earnings/(Loss) Before Income Taxes

Components of earnings before income taxes (in millions):

Fiscal Year Ended	Sep 29, 2024		Oct 1, 2023		Oct 2, 2022
United States	$	4,087.6	$	4,488.6	$	3,484.9
Foreign	882.0		913.3		747.0
Total earnings before income taxes	$	4,969.6	$	5,401.9	$	4,231.9

Provision/(Benefit) for Income Taxes

Provision/(benefit) for income taxes (in millions):

Fiscal Year Ended	Sep 29, 2024		Oct 1, 2023		Oct 2, 2022
Current taxes:
U.S. federal	$	681.2	$	678.2	$	477.6
U.S. state and local	210.9		235.9		164.0
Foreign	328.8		422.4		283.8
Total current taxes	1,220.9		1,336.5		925.4
Deferred taxes:
U.S. federal	10.7		117.0		92.6
U.S. state and local	(0.7)		(0.8)		10.5
Foreign	(23.6)		(175.5)		(80.0)
Total deferred taxes	(13.6)		(59.3)		23.1
Total income tax expense	$	1,207.3	$	1,277.2	$	948.5

Reconciliation of the Statutory U.S. Federal Income Tax Rate With Our Effective Income Tax Rate

Reconciliation of the statutory U.S. federal income tax rate with our effective income tax rate:

Fiscal Year Ended	Sep 29, 2024		Oct 1, 2023		Oct 2, 2022
Statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit	3.3		3.4		3.3
Foreign rate differential	0.3		0.4		0.3
Other, net	(0.3)		(1.2)		(2.2)
Effective tax rate	24.3	%	23.6	%	22.4	%

Tax Effect of Temporary Differences and Carryforwards that Comprise Significant Portions of Deferred Tax Assets and Liabilities

Tax effect of temporary differences and carryforwards that comprise significant portions of deferred tax assets and liabilities (in millions):

	Sep 29, 2024		Oct 1, 2023
Deferred tax assets:
Operating lease liabilities	$	2,595.1	$	2,395.3
Stored value card liability and deferred revenue	1,612.5		1,638.1
Intangible assets and goodwill	372.6		313.4
Other	692.2		642.3
Total	5,272.4		4,989.1
Valuation allowance	(194.5)		(148.6)
Total deferred tax asset, net of valuation allowance	5,077.9		4,840.5
Deferred tax liabilities:
Operating lease, right-of-use assets	(2,483.7)		(2,291.8)
Property, plant and equipment	(580.8)		(525.4)
Other	(267.8)		(268.1)
Total	(3,332.3)		(3,085.3)
Net deferred tax asset (liability)	$	1,745.6	$	1,755.2
Reported as:
Deferred income tax assets	$	1,766.7	$	1,769.8
Deferred income tax liabilities (included in Other long-term liabilities)	(21.1)		(14.6)
Net deferred tax asset (liability)	$	1,745.6	$	1,755.2

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes the activity related to our unrecognized tax benefits (in millions):

	Sep 29, 2024		Oct 1, 2023		Oct 2, 2022
Beginning balance	$	105.0	$	89.7	$	82.6
Increase related to prior year tax positions	7.9		1.2		0.2
Decrease related to prior year tax positions	(6.4)		(0.4)		(0.7)
Increase related to current year tax positions	10.3		14.5		9.0
Decreases related to settlements with taxing authorities	(8.8)		—		—
Decrease related to lapsing of statute of limitations	—		—		(1.4)
Ending balance	$	108.0	$	105.0	$	89.7