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Derivative Instruments (Tables)
 3 Months Ended
Dec. 29, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Gross Fair Value of Derivative Positions The Company’s derivative positions measured at fair value are summarized in the following tables: 
 
As of December 29, 2018
 
Current
Assets
 
Other Assets
 
Other Current Liabilities
 
Other Long-
Term
Liabilities
Derivatives designated as hedges
 
 
 
 
 
 
 
Foreign exchange
$
211

 
$
181

 
$
(72
)
 
$
(77
)
Interest rate
—

 
—

 
(221
)
 
—

Other
2

 
—

 
(7
)
 
(4
)
Derivatives not designated as hedges
 
 
 
 
 
 
 
Foreign exchange
27

 
89

 
(140
)
 
(53
)
Interest rate
—

 
—

 
—

 
(63
)
Gross fair value of derivatives
240

 
270

 
(440
)
 
(197
)
Counterparty netting
(145
)
 
(225
)
 
228

 
142

Cash collateral (received)/paid
(3
)
 
—

 
104

 
15

Net derivative positions
$
92

 
$
45

 
$
(108
)
 
$
(40
)
 
As of September 29, 2018
 
Current
Assets
 
Other Assets
 
Other Current Liabilities
 
Other Long-
Term
Liabilities
Derivatives designated as hedges
 
 
 
 
 
 
 
Foreign exchange
$
166

 
$
169

 
$
(80
)
 
$
(39
)
Interest rate
—

 
—

 
(329
)
 
—

Other
13

 
2

 
—

 
—

Derivatives not designated as hedges
 
 
 
 
 
 
 
Foreign exchange
38

 
96

 
(95
)
 
(60
)
Interest rate
—

 
—

 
—

 
(81
)
Gross fair value of derivatives
217

 
267

 
(504
)
 
(180
)
Counterparty netting
(158
)
 
(227
)
 
254

 
131

Cash collateral (received)/paid
—

 
—

 
135

 
5

Net derivative positions
$
59

 
$
40

 
$
(115
)
 
$
(44
)
Carrying Amount and Cumulative Basis Adjustments for Fair Value Hedges Recorded on the Balance Sheet The following table summarizes fair value hedge adjustments to hedged borrowings at December 29, 2018 and September 29, 2018:
 
Carrying Amount of Hedged Borrowings (1)
 
Fair Value Adjustments Included
in Hedged Borrowings (1)
 
December 29, 2018
 
September 29, 2018
 
December 29, 2018
 
September 29, 2018
Borrowings:
 
 
 
 
 
 
 
Current
$
1,590

 
$
1,585

 
$
(9
)
 
$
(14
)
Long-term
6,499

 
6,425

 
(177
)
 
(290
)
 
$
8,089

 
$
8,010

 
$
(186
)
 
$
(304
)
(1) 
Includes $40 million and $41 million of gains on terminated interest rate swaps as of December 29, 2018 and September 29, 2018, respectively.
Adjustments Related to Fair Value Hedges Included in Interest Expense, net in the Consolidated Statements of Income The following amounts are included in “Interest expense, net” in the Condensed Consolidated Statements of Income:
 
Quarter Ended
 
December 29,
2018
 
December 30,
2017
Gain (loss) on:
 
 
 
Pay-floating swaps
$
117

 
$
(64
)
Borrowings hedged with pay-floating swaps
(117
)
 
64

Benefit (expense) associated with interest accruals on pay-floating swaps
(14
)
 
7
Effect of Foreign Exchange Cash Flow Hedges on AOCI The following table summarizes the effect of foreign exchange cash flow hedges on AOCI for the quarter ended December 29, 2018:
 
December 29,
2018
Gain/(loss) recognized in Other Comprehensive Income
$
50

Gain/(loss) reclassified from AOCI into the Statement of Income (1)
37

(1) 
Primarily recorded in revenue
Net Gains or Losses Recognized in Costs and Expenses on Economic Exposures Associated with Foreign Currency Exchange Rates The following table summarizes the net foreign exchange gains or losses recognized on foreign currency denominated assets and liabilities and the net foreign exchange gains or losses on the foreign exchange contracts we entered into to mitigate our exposure with respect to foreign currency denominated assets and liabilities for the quarter ended December 29, 2018 and December 30, 2017 by the corresponding line item in which they are recorded in the Condensed Consolidated Statements of Income:
 
Costs and Expenses
 
Interest expense, net
 
Income Tax expense
Quarter Ended:
December 29,
2018
 
December 30,
2017
 
December 29,
2018
 
December 30,
2017
 
December 29,
2018
 
December 30,
2017
Net gain (loss) on foreign currency denominated assets and liabilities
$
(27
)
 
$
17

 
$
40

 
$
3

 
$
15

 
$
3

Net gain (loss) on foreign exchange risk management contracts not designated as hedges
24

 
(14
)
 
(39
)
 
(1
)
 
(18
)
 
(1
)
Net gain (loss)
$
(3
)
 
$
3

 
$
1

 
$
2

 
$
(3
)
 
$
2