Deferred Revenue (Tables)

3 Months Ended

Dec. 29, 2024

Revenue from Contract with Customer [Abstract]

Changes in Deferred Revenue Balance Related to Stored Value Cards and Loyalty Program

Changes in our deferred revenue balance related to our stored value cards and loyalty program (in millions):

Quarter Ended December 29, 2024	Total
Stored value cards and loyalty program at September 29, 2024	$	1,718.7
Revenue deferred - card activations, card reloads and Stars earned	4,414.4
Revenue recognized - card and Stars redemptions and breakage	(3,892.9)
Other(1)	(27.1)
Stored value cards and loyalty program at December 29, 2024(2)	$	2,213.1
Quarter Ended December 31, 2023	Total
Stored value cards and loyalty program at October 1, 2023	$	1,567.5
Revenue deferred - card activations, card reloads and Stars earned	4,687.2
Revenue recognized - card and Stars redemptions and breakage	(4,098.4)
Other(1)	13.4
Stored value cards and loyalty program at December 31, 2023(2)	$	2,169.7

(1)“Other” primarily consists of changes in the stored value cards and loyalty program balances resulting from foreign currency translation.

(2)As of December 29, 2024 and December 31, 2023, approximately $2.1 billion and $2.0 billion, respectively, of these amounts were current.