Derivative Financial Instruments (Tables)

12 Months Ended

Sep. 27, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Gains and Losses on Derivative Contracts Designated as Hedging Instruments Included in AOCI and Expected to be Reclassified into Earnings Within 12 months, Net of Tax

Gains and losses on derivative contracts and foreign currency-denominated debt designated as hedging instruments included in AOCI and expected to be reclassified into earnings within 12 months, net of tax (in millions):

	Net Gains/(Losses) Included in AOCI						Net Gains/(Losses) Expected to be Reclassified from AOCI into Earnings within 12 Months		Outstanding Contract/Debt Remaining Maturity (Months)
	Sep 27, 2020		Sep 29, 2019		Sep 30, 2018
Cash Flow Hedges:
Coffee	$	(2.5)	$	(1.0)	$	(0.2)	$	(3.2)	15
Cross-currency swaps	5.2		(1.4)		(12.6)		—		50
Dairy	0.5		—		—		0.5		9
Foreign currency - other	5.3		12.9		5.8		4.6		36
Interest rates	(90.6)		0.5		24.7		(2.9)		145
Net Investment Hedges:
Cross-currency swaps	32.6		—		—		—		108
Foreign currency	16.0		16.0		16.0		—		0
Foreign currency debt	(37.1)		(26.1)		3.6		—		42

Pretax Gains and Losses on Derivative Contracts Designated as Hedging Instruments Recognized in OCI and Reclassifications from AOCI to Earnings

Pre-tax gains and losses on derivative contracts and foreign currency-denominated long-term debt designated as hedging instruments recognized in OCI and reclassifications from AOCI to earnings (in millions):

	Year Ended
	Gains/(Losses) Recognized in OCI Before Reclassifications						Gains/(Losses) Reclassified from AOCI to Earnings						Location of gain/(loss)
	Sep 27, 2020		Sep 29, 2019		Sep 30, 2018		Sep 27, 2020		Sep 29, 2019		Sep 30, 2018
Cash Flow Hedges:
Coffee	$	(1.2)	$	(1.2)	$	(0.3)	$	0.5	$	(0.3)	$	(7.4)	Product and distribution costs
Cross-currency swaps	4.4		(5.9)		(6.1)		2.3		0.1		0.3		Interest expense
							(6.1)		(19.8)		1.9		Interest income and other, net
Dairy	3.0		—		—		4.0		—		—		Product and distribution costs
							(1.7)		—		—		Interest income and other, net(1)
Foreign currency - other	(6.4)		20.8		16.7		5.5		7.0		(0.3)		Licensed stores revenues
							(8.7)		4.4		(3.3)		Product and distribution costs
							6.1		—		—		Interest income and other, net(1)
Interest rates	(126.1)		(27.8)		14.1		—		4.7		4.9		Interest expense
Net Investment Hedges:
Cross-currency swaps	56.8		—		—		13.3		—		—		Interest expense
Foreign currency	—		—		(0.1)		—		—		—
Foreign currency debt	(18.1)		(39.8)		7.9		—		—		—

Pretax Gains and Losses on Derivative Contracts Not Designated as Hedging Instruments Recognized in Earnings

Pre-tax gains and losses on non-designated derivatives and designated fair value hedging instruments and the related fair value hedged item recognized in earnings (in millions):

		Gains/(Losses) Recognized in Earnings
	Location of gain/(loss) recognized in earnings	Year Ended
		Sep 27, 2020		Sep 29, 2019		Sep 30, 2018
Non-Designated Derivatives:
Dairy	Interest income and other, net	$	—	$	(1.9)	$	(2.4)
Diesel fuel and other commodities	Interest income and other, net	(8.8)		(5.9)		3.7
Foreign currency - other	Interest income and other, net	0.3		(8.1)		4.6
Fair Value Hedges:
Interest rate swap	Interest expense	28.7		54.7		(33.7)
Long-term debt (hedged item)	Interest expense	(23.8)		(50.7)		33.7

Notional Amounts of Outstanding Derivative Contracts

Notional amounts of outstanding derivative contracts (in millions):

	Sep 27, 2020		Sep 29, 2019
Coffee	$	63	$	52
Cross-currency swaps	870		341
Dairy	61		1
Diesel fuel and other commodities	5		17
Foreign currency - other	1,140		1,125
Interest rate swaps	1,750		1,500

Fair Value of Outstanding Derivative Contracts

		Derivative Assets
	Balance Sheet Location	Sep 27, 2020		Sep 29, 2019
Designated Derivative Instruments:
Coffee	Prepaid expenses and other current assets	$	2.6	$	—
Cross-currency swaps	Other long-term assets	37.7		0.2
Dairy	Prepaid expenses and other current assets	2.1		—
Foreign currency - other	Prepaid expenses and other current assets	8.6		11.4
	Other long-term assets	3.8		7.8
Interest rates	Other long-term assets	—		0.1
Interest rate swap	Other long-term assets	45.8		18.2
Non-designated Derivative Instruments:
Diesel fuel and other commodities	Prepaid expenses and other current assets	—		0.2
Foreign currency	Prepaid expenses and other current assets	2.3		1.0
		Derivative Liabilities
	Balance Sheet Location	Sep 27, 2020		Sep 29, 2019
Designated Derivative Instruments:
Coffee	Accrued liabilities	$	1.4	$	1.0
	Other long-term liabilities	0.1		0.1
Cross-currency swaps	Other long-term liabilities	7.3		9.7
Dairy	Accrued liabilities	1.4		—
Foreign currency - other	Accrued liabilities	1.6		0.6
	Other long-term liabilities	2.6		0.1
Interest rates	Other long-term liabilities	69.3		2.6
Non-designated Derivative Instruments:
Diesel fuel and other commodities	Accrued liabilities	1.7		1.1
Foreign currency	Accrued liabilities	1.2		3.0

Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following amounts were recorded on the consolidated balance sheets related to fixed-to-floating interest rate swaps designated in fair value hedging relationships:

	Carrying amount of hedged item				Cumulative amount of fair value hedging adjustment included in the carrying amount
	Sep 27, 2020		Sep 29, 2019		Sep 27, 2020		Sep 29, 2019
Location on the balance sheet
Long-term debt	$	785.6	$	761.8	$	35.6	$	11.8