Fair Value Measurements (Tables)

3 Months Ended

Jan. 02, 2021

Fair Value Disclosures [Abstract]

Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis

The following tables set forth by level within the fair value hierarchy our financial assets and liabilities accounted for at fair value on a recurring basis according to the valuation techniques we used to determine their fair values (in millions): 

January 2, 2021	Level 1		Level 2		Level 3		Netting (a)		Total
Other Current Assets:
Derivative financial instruments:
Designated as hedges	$	—	$	1	$	—	$	—	$	1
Undesignated	—		210		—		(146)		64
Other Assets:
Available-for-sale securities:
Non-current	—		57		51		—		108
Deferred compensation assets	11		373		—		—		384
Total assets	$	11	$	641	$	51	$	(146)	$	557
Other Current Liabilities:
Derivative financial instruments:
Designated as hedges	$	—	$	9	$	—	$	(9)	$	—
Undesignated	—		98		—		(82)		16
Total liabilities	$	—	$	107	$	—	$	(91)	$	16

October 3, 2020	Level 1		Level 2		Level 3		Netting (a)		Total
Other Current Assets:
Derivative financial instruments:
Designated as hedges	$	—	$	4	$	—	$	(2)	$	2
Undesignated	—		96		—		(51)		45
Other Assets:
Available-for-sale securities:
Non-current	—		55		53		—		108
Deferred compensation assets	19		336		—		—		355
Total assets	$	19	$	491	$	53	$	(53)	$	510
Other Current Liabilities:
Derivative financial instruments:
Designated as hedges	$	—	$	10	$	—	$	(10)	$	—
Undesignated	—		74		—		(59)		15
Total liabilities	$	—	$	84	$	—	$	(69)	$	15

(a) Our derivative assets and liabilities are presented in our Consolidated Condensed Balance Sheets on a net basis when a legally enforceable master netting arrangement exists between the counterparty to a derivative contract and us. Additionally, at January 2, 2021, and October 3, 2020, we had $22 million and $16 million, respectively, of net cash collateral with various counterparties where master netting arrangements exist and held no cash collateral.

Schedule Of Debt Securities Measured At Fair Value On A Recurring Basis, Unobservable Input Reconciliation

The following table provides a reconciliation between the beginning and ending balance of marketable debt securities measured at fair value on a recurring basis in the table above that used significant unobservable inputs (Level 3) (in millions): 

	Three Months Ended
	January 2, 2021		December 28, 2019
Balance at beginning of year	$	53	$	52
Total realized and unrealized gains (losses):
Included in earnings	—		—
Included in other comprehensive income (loss)	—		—
Purchases	5		3
Issuances	—		—
Settlements	(7)		(6)
Balance at end of period	$	51	$	49
Total gains (losses) for the three month period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities still held at end of period	$	—	$	—

Schedule Of Available For Sale Securities

The following table sets forth our available-for-sale securities' amortized cost basis, fair value and unrealized gain (loss) by significant investment category (in millions):

	January 2, 2021						October 3, 2020
	Amortized Cost Basis		Fair Value		Unrealized Gain (Loss)		Amortized Cost Basis		Fair Value		Unrealized Gain (Loss)
Available-for-sale securities:
Debt securities:
U.S. treasury and agency	$	57	$	57	$	—	$	55	$	55	$	—
Corporate and asset-backed	49		51		2		51		53		2

Schedule Of Fair Value And Carrying Value Of Debt

Fair value of our debt is principally estimated using Level 2 inputs based on quoted prices for those or similar instruments. Fair value and carrying value for our debt are as follows (in millions):

	January 2, 2021				October 3, 2020
	Fair Value		Carrying Value		Fair Value		Carrying Value
Total debt	$	13,332	$	11,357	$	12,982	$	11,339