Segment Reporting

6 Months Ended

Mar. 30, 2025

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

Segment information is prepared on the same basis that our chief executive officer, who is our Chief Operating Decision Maker, manages the segments, evaluates financial results, and makes key operating decisions.

Consolidated revenue mix by product type (in millions):

	Quarter Ended								Two Quarters Ended
	Mar 30, 2025				Mar 31, 2024				Mar 30, 2025				Mar 31, 2024
Beverage(1)	$	5,293.6	60	%	$	5,160.6	60	%	$	10,971.6	60	%	$	10,856.4	60	%
Food(2)	1,691.9		19	%	1,583.0		18	%	3,482.3		19	%	3,339.9		19	%
Other(3)	1,776.1		21	%	1,819.4		22	%	3,705.5		21	%	3,792.0		21	%
Total	$	8,761.6	100	%	$	8,563.0	100	%	$	18,159.4	100	%	$	17,988.3	100	%

(1)“Beverage” represents sales within our company-operated stores.

(2)“Food” includes sales within our company-operated stores.

(3)“Other” primarily consists of packaged and single-serve coffees and teas, royalty and licensing revenues, beverage-related ingredients, and serveware, among other items.

The tables below present financial information for our reportable operating segments and Corporate and Other (in millions):

Quarter Ended

	North America		International		Channel Development		Corporate and Other		Total
March 30, 2025
Total net revenues	$	6,472.7	$	1,867.1	$	409.0	$	12.8	$	8,761.6
Depreciation and amortization expenses	299.2		89.0		—		30.7		418.9
Income/(loss) from equity investees	—		(0.2)		59.3		—		59.1
Operating income/(loss)	$	748.3	$	217.0	$	193.5	$	(557.8)	$	601.0
March 31, 2024
Total net revenues	$	6,380.0	$	1,757.3	$	418.2	$	7.5	$	8,563.0
Depreciation and amortization expenses	257.1		84.3		—		30.5		371.9
Income/(loss) from equity investees	—		0.2		67.8		—		68.0
Operating income/(loss)	$	1,148.3	$	233.8	$	216.3	$	(499.5)	$	1,098.9
Two Quarters Ended
	North America		International		Channel Development		Corporate and Other		Total
March 30, 2025
Total net revenues	$	13,544.6	$	3,738.4	$	845.3	$	31.1	$	18,159.4
Depreciation and amortization expenses	588.1		178.1		—		60.0		826.2
Income from equity investees	—		(0.7)		106.2		—		105.5
Operating income/(loss)	$	1,929.6	$	454.1	$	401.6	$	(1,062.5)	$	1,722.8
March 31, 2024
Total net revenues	$	13,500.7	$	3,603.6	$	866.2	$	17.8	$	17,988.3
Depreciation and amortization expenses	507.5		168.3		—		61.4		737.2
Income from equity investees	—		0.3		123.5		—		123.8
Operating income/(loss)	$	2,669.1	$	475.3	$	426.0	$	(986.1)	$	2,584.3