Derivative Financial Instruments (Tables)

3 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Derivative Instruments, Gain (Loss) [Table Text Block]

The following table sets forth the pretax impact of the cash flow, fair value and undesignated derivative instruments in the Consolidated Condensed Statements of Income (in millions):

Consolidated Condensed Statements of Income Classification		Three Months Ended
		December 31, 2022		January 1, 2022
Cost of Sales	Gain (Loss) on cash flow hedges reclassified from OCI to Earnings:
	Commodity contracts	$	—	$	—
	Gain (Loss) on fair value hedges:
	Commodity contracts (a)	(3)		(3)
	Gain (Loss) on derivatives not designated as hedging instruments:
	Commodity contracts	15		81
Total		$	12	$	78
Interest Expense	Gain (Loss) on cash flow hedges reclassified from OCI to Earnings:
	Interest rate contracts	$	(1)	$	—
Other, net	Gain (Loss) on derivatives not designated as hedging instruments:
	Foreign exchange contracts	$	5	$	—

Schedule of Income Statement Items Impacted by Derivatives [Table Text Block]

The following table sets forth the total amounts of each income and expense line item presented in the Consolidated Condensed Statements of Income in which the effects of hedges are recorded (in millions):

Consolidated Condensed Statements of Income Classification	Three Months Ended
	December 31, 2022		January 1, 2022
Cost of Sales	$	12,292	$	10,918
Interest Expense	84		100
Other, net	(42)		(52)

Schedule of Notional Amounts of Outstanding Derivative Positions

We had the following net aggregated outstanding notional amounts related to our derivative financial instruments:

in millions, except soybean meal tons	Metric	December 31, 2022		October 1, 2022
Commodity:
Corn	Bushels	61		44
Soybean Meal	Tons	574,600		532,700
Live Cattle	Pounds	143		280
Lean Hogs	Pounds	338		339
Foreign Currency	United States dollar	$	164	$	249

Designated as Hedging Instrument [Member] | Fair Value Hedging [Member]

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The following table sets forth the carrying amount of fair value hedge (assets) liabilities as of December 31, 2022 and October 1, 2022 (in millions):

Consolidated Condensed Balance Sheets Classification	December 31, 2022		October 1, 2022
Inventory	$	7	$	(12)