Derivative Instruments (Tables)

12 Months Ended

Sep. 29, 2012

Gross Fair Value of Derivative Positions

The following tables summarize the gross fair value of the Company’s derivative positions as of September 29, 2012 and October 1, 2011:


	As of September 29, 2012
	Current Assets		Other Assets		Other Accrued Liabilities		Other Long- Term Liabilities
Derivatives designated as hedges
Foreign exchange	$	84	$	30	$	(94)	$	(50)
Interest rate		1		238		–		–
Derivatives not designated as hedges
Foreign exchange		258		18		(91)		–

Gross fair value of derivatives		343		286		(185)		(50)
Counterparty netting		(117)		(36)		117		36


Total Derivatives ⁽¹⁾	$	226	$	250	$	(68)	$	(14)


	As of October 1, 2011
	Current Assets		Other Assets		Other Accrued Liabilities		Other Long- Term Liabilities
Derivatives designated as hedges
Foreign exchange	$	133	$	33	$	(100)	$	(90)
Interest rate		1		213		–		–
Derivatives not designated as hedges
Foreign exchange		103		229		(51)		(21)
Interest rate		–		–		–		(18)

Gross fair value of derivatives		237		475		(151)		(129)
Counterparty netting		(111)		(56)		111		56


Total Derivatives ⁽¹⁾	$	126	$	419	$	(40)	$	(73)

⁽¹⁾	Refer to Note 15 for further information on derivative fair values and counterparty netting.

The following table summarizes adjustments related to fair value hedges included in net interest expense in the Consolidated Statements of Income.


	2012		2011
Gain (loss) on interest rate swaps	$	23	$	17
Gain (loss) on hedged borrowings		(23)		(17)

Net Gains or Losses Recognized in Costs and Expenses on Economic Exposures Associated with Foreign Currency Exchange Rates

The following table summarizes the net gains or losses recognized in costs and expenses on the economic exposures associated with foreign currency exchange rates and the offsetting net gains or losses on the related foreign exchange contracts for the years ended September 29, 2012 and October 1, 2011:


	2012		2011
Net gains (losses) on the economic exposures related to foreign currency exchange contracts	$	(72)	$	(25)
Net gains (losses) on related foreign exchange contracts not designated as hedges		9		24

Net gains (losses) recognized in costs and expenses ⁽¹⁾	$	(63)	$	(1)

⁽¹⁾	Gross gains or losses on exchange hedge contracts may include interest rate or other non-foreign currency related components which impact the fair value of the contracts, and which do not impact the foreign currency assets and liabilities which they are intended to offset

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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