Derivative Financial Instruments (Tables)

12 Months Ended

Oct. 03, 2021

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)
	Oct 3, 2021		Sep 27, 2020		Sep 29, 2019
Cash Flow Hedges:
Coffee	$	197.8	$	(2.5)	$	(1.0)	$	117.4	8
Cross-currency swaps	4.4		5.2		(1.4)		—		38
Dairy	(0.4)		0.5		—		(0.4)		11
Foreign currency - other	1.3		5.3		12.9		(0.6)		34
Interest rates	(44.8)		(90.6)		0.5		(1.6)		133
Net Investment Hedges:
Cross-currency swaps	37.9		32.6		—		—		96
Foreign currency	16.0		16.0		16.0		—		0
Foreign currency debt	(5.3)		(37.1)		(26.1)		—		30

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)
	Oct 3, 2021		Sep 27, 2020		Sep 29, 2019		Oct 3, 2021		Sep 27, 2020		Sep 29, 2019
Cash Flow Hedges:
Coffee	$	223.5	$	(1.2)	$	(1.2)	$	(3.5)	$	0.5	$	(0.3)	Product and distribution costs
Cross-currency swaps	13.7		4.4		(5.9)		1.9		2.3		0.1		Interest expense
							12.7		(6.1)		(19.8)		Interest income and other, net
Dairy	0.5		3.0		—		1.7		4.0		—		Product and distribution costs
							—		(1.7)		—		Interest income and other, net(1)
Foreign currency - other	(10.0)		(6.4)		20.8		1.8		5.5		7.0		Licensed stores revenues
							(7.3)		(8.7)		4.4		Product and distribution costs
							—		6.1		—		Interest income and other, net(1)
Interest rates	56.1		(126.1)		(27.8)		(1.8)		—		4.7		Interest expense
							(3.6)		—		—		Interest income and other, net
Net Investment Hedges:
Cross-currency swaps	20.5		56.8		—		13.4		13.3		—		Interest expense
Foreign currency debt	42.6		(18.1)		(39.8)		—		—		—

(1)As a result of the global COVID-19 impacts, we discontinued cash flow hedges during the year ended September 27, 2020.

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
		Oct 3, 2021		Sep 27, 2020		Sep 29, 2019
Non-Designated Derivatives:
Dairy	Interest income and other, net	$	—	$	—	$	(1.9)
Diesel fuel and other commodities	Interest income and other, net	2.6		(8.8)		(5.9)
Foreign currency - other	Interest income and other, net	7.5		0.3		(8.1)
Fair Value Hedges:
Interest rate swap	Interest expense	(0.5)		28.7		54.7
Long-term debt (hedged item)	Interest expense	14.0		(23.8)		(50.7)

Notional Amounts of Outstanding Derivative Contracts

Notional amounts of outstanding derivative contracts (in millions):

	Oct 3, 2021		Sep 27, 2020
Coffee	$	481	$	63
Cross-currency swaps	806		870
Dairy	53		61
Diesel fuel and other commodities	10		5
Foreign currency - other	1,009		1,140
Interest rate swaps	1,250		1,750

Fair Value of Outstanding Derivative Contracts

Fair value of outstanding derivative contracts (in millions) including the location of the asset and/or liability on the consolidated balance sheets:

		Derivative Assets
	Balance Sheet Location	Oct 3, 2021		Sep 27, 2020
Designated Derivative Instruments:
Coffee	Prepaid expenses and other current assets	$	130.5	$	2.6
Cross-currency swaps	Other long-term assets	54.7		37.7
Dairy	Prepaid expenses and other current assets	0.8		2.1
Foreign currency - other	Prepaid expenses and other current assets	8.9		8.6
	Other long-term assets	6.9		3.8
Interest rate swap	Other long-term assets	22.7		45.8
Non-designated Derivative Instruments:
Diesel fuel and other commodities	Prepaid expenses and other current assets	0.1		—
Foreign currency	Prepaid expenses and other current assets	7.3		2.3
		Derivative Liabilities
	Balance Sheet Location	Oct 3, 2021		Sep 27, 2020
Designated Derivative Instruments:
Coffee	Accrued liabilities	$	—	$	1.4
	Other long-term liabilities	—		0.1
Cross-currency swaps	Other long-term liabilities	3.3		7.3
Dairy	Accrued liabilities	0.9		1.4
Foreign currency - other	Accrued liabilities	7.4		1.6
	Other long-term liabilities	3.6		2.6
Interest rates	Other long-term liabilities	1.3		69.3
Non-designated Derivative Instruments:
Dairy	Accrued liabilities	0.2		—
Diesel fuel and other commodities	Accrued liabilities	—		1.7
Foreign currency	Accrued liabilities	0.1		1.2

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
	Oct 3, 2021		Sep 27, 2020		Oct 3, 2021		Sep 27, 2020
Location on the balance sheet
Long-term debt	$	771.7	$	785.6	$	21.7	$	35.6