Deferred Revenue (Tables)

9 Months Ended

Jun. 29, 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 June 29, 2025	Total
Stored value cards and loyalty program at March 30, 2025	$	1,853.2
Revenue deferred - card activations, card reloads and Stars earned	3,764.0
Revenue recognized - card and Stars redemptions and breakage	(3,788.2)
Other(1)	15.3
Stored value cards and loyalty program at June 29, 2025(2)	$	1,844.3
Quarter Ended June 30, 2024	Total
Stored value cards and loyalty program at March 31, 2024	$	1,818.9
Revenue deferred - card activations, card reloads and Stars earned	3,833.4
Revenue recognized - card and Stars redemptions and breakage	(3,870.2)
Other(1)	(8.3)
Stored value cards and loyalty program at June 30, 2024(2)	$	1,773.8
Three Quarters Ended June 29, 2025	Total
Stored value cards and loyalty program at September 29, 2024	$	1,718.7
Revenue deferred - card activations, card reloads and Stars earned	11,675.2
Revenue recognized - card and Stars redemptions and breakage	(11,544.0)
Other(1)	(5.6)
Stored value cards and loyalty program at June 29, 2025(2)	$	1,844.3
Three Quarters Ended June 30, 2024	Total
Stored value cards and loyalty program at October 1, 2023	$	1,567.5
Revenue deferred - card activations, card reloads and Stars earned	11,977.1
Revenue recognized - card and Stars redemptions and breakage	(11,761.0)
Other(1)	(9.8)
Stored value cards and loyalty program at June 30, 2024(2)	$	1,773.8

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

(2)As of June 29, 2025 and June 30, 2024, approximately $1.7 billion and $1.6 billion, respectively, of these amounts were current.