Deferred Revenue (Tables)

6 Months Ended

Mar. 30, 2025

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 March 30, 2025	Total
Stored value cards and loyalty program at December 29, 2024	$	2,213.1
Revenue deferred - card activations, card reloads and Stars earned	3,496.8
Revenue recognized - card and Stars redemptions and breakage	(3,862.9)
Other(1)	6.2
Stored value cards and loyalty program at March 30, 2025(2)	$	1,853.2
Quarter Ended March 31, 2024	Total
Stored value cards and loyalty program at December 31, 2023	$	2,169.7
Revenue deferred - card activations, card reloads and Stars earned	3,456.5
Revenue recognized - card and Stars redemptions and breakage	(3,792.4)
Other(1)	(14.9)
Stored value cards and loyalty program at March 31, 2024(2)	$	1,818.9
Two Quarters Ended March 30, 2025	Total
Stored value cards and loyalty program at September 29, 2024	$	1,718.7
Revenue deferred - card activations, card reloads and Stars earned	7,911.2
Revenue recognized - card and Stars redemptions and breakage	(7,755.8)
Other(1)	(20.9)
Stored value cards and loyalty program at March 30, 2025(2)	$	1,853.2
Two Quarters Ended March 31, 2024	Total
Stored value cards and loyalty program at October 1, 2023	$	1,567.5
Revenue deferred - card activations, card reloads and Stars earned	8,143.7
Revenue recognized - card and Stars redemptions and breakage	(7,890.8)
Other(1)	(1.5)
Stored value cards and loyalty program at March 31, 2024(2)	$	1,818.9

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

(2)As of March 30, 2025 and March 31, 2024, approximately $1.7 billion of these amounts were current.