Fair Value Measurements (Tables)

3 Months Ended

Jan. 01, 2022

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 1, 2022	Level 1		Level 2		Level 3		Netting (a)		Total
Other Current Assets:
Derivative financial instruments:
Designated as hedges	$	—	$	3	$	—	$	(2)	$	1
Undesignated	—		130		—		(49)		81
Other Assets:
Available-for-sale securities	—		62		46		—		108
Deferred compensation assets	12		414		—		—		426
Total assets	$	12	$	609	$	46	$	(51)	$	616
Other Current Liabilities:
Derivative financial instruments:
Designated as hedges	$	—	$	15	$	—	$	(15)	$	—
Undesignated	—		70		—		(59)		11
Total liabilities	$	—	$	85	$	—	$	(74)	$	11

October 2, 2021	Level 1		Level 2		Level 3		Netting (a)		Total
Other Current Assets:
Derivative financial instruments:
Designated as hedges	$	—	$	18	$	—	$	(10)	$	8
Undesignated	—		169		—		(89)		80
Other Assets:
Available-for-sale securities	—		61		48		—		109
Deferred compensation assets	14		397		—		—		411
Total assets	$	14	$	645	$	48	$	(99)	$	608
Other Current Liabilities:
Derivative financial instruments:
Designated as hedges	$	—	$	12	$	—	$	(12)	$	—
Undesignated	—		159		—		(143)		16
Total liabilities	$	—	$	171	$	—	$	(155)	$	16

(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 1, 2022, and October 2, 2021, we had $23 million and $56 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 1, 2022		January 2, 2021
Balance at beginning of year	$	48	$	53
Total realized and unrealized gains (losses):
Included in other comprehensive income (loss)	(1)		—
Purchases	1		5
Issuances	—		—
Settlements	(2)		(7)
Balance at end of period	$	46	$	51
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 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 1, 2022				October 2, 2021
	Fair Value		Carrying Value		Fair Value		Carrying Value
Total debt	$	10,862	$	9,364	$	10,810	$	9,348

Debt Securities, Available-for-sale

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 1, 2022						October 2, 2021
	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	$	62	$	62	$	—	$	61	$	61	$	—
Corporate and asset-backed	46		46		—		47		48		1