Derivative Financial Instruments (Tables)

9 Months Ended

Jul. 02, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Gains and Losses Included in AOCI and Expected to be Reclassified into Earnings in 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)
	Jul 2, 2023		Oct 2, 2022
Cash Flow Hedges:
Coffee	$	(107.6)	$	153.9	$	(95.6)	6
Cross-currency swaps	(1.1)		(1.9)		—		17
Dairy	(5.2)		(2.6)		(5.2)		9
Foreign currency - other	25.7		55.3		18.2		33
Interest rates	(5.9)		(5.8)		(1.7)		0
Net Investment Hedges:
Cross-currency swaps	76.5		67.3		—		105
Foreign currency	16.0		16.1		—		0
Foreign currency debt	126.8		125.7		—		9

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 other comprehensive income (“OCI”) and reclassifications from AOCI to earnings (in millions):

	Quarter Ended
	Gains/(Losses) Recognized in OCI Before Reclassifications				Gains/(Losses) Reclassified from AOCI to Earnings				Location of gain/(loss)
	Jul 2, 2023		Jul 3, 2022		Jul 2, 2023		Jul 3, 2022
Cash Flow Hedges:
Coffee	$	(20.0)	$	(19.3)	$	0.3	$	32.2	Product and distribution costs
Cross-currency swaps	4.2		12.9		(3.5)		(2.1)		Interest expense
					7.5		16.0		Interest income and other, net
Dairy	(6.1)		(1.4)		(3.8)		4.4		Product and distribution costs
Foreign currency - other	26.5		43.4		6.1		6.6		Licensed stores revenue
					1.4		(0.9)		Product and distribution costs
Interest rates	—		18.8		0.8		(0.6)		Interest expense
Net Investment Hedges:
Cross-currency swaps	47.6		37.0		7.8		3.8		Interest expense
Foreign currency debt	53.4		72.2		—		—
	Three Quarters Ended
	Gains/(Losses) Recognized in OCI Before Reclassifications				Gains/(Losses) Reclassified from AOCI to Earnings				Location of gain/(loss)
	Jul 2, 2023		Jul 3, 2022		Jul 2, 2023		Jul 3, 2022
Cash Flow Hedges:
Coffee	$	(139.9)	$	76.1	$	156.9	$	56.6	Product and distribution costs
Cross-currency swaps	(10.0)		22.3		(9.2)		(3.7)		Interest expense
					(1.7)		32.3		Interest income and other, net
Dairy	(12.0)		6.6		(8.6)		6.8		Product and distribution costs
Foreign currency - other	(15.7)		51.1		18.0		11.0		Licensed stores revenue
					5.8		(2.5)		Product and distribution costs
					0.2		—		Interest income and other, net
Interest rates	0.3		54.2		0.5		(1.5)		Interest expense
Net Investment Hedges:
Cross-currency swaps	32.5		51.2		20.1		10.7		Interest expense
Foreign currency debt	1.2		137.6		—		—

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	Quarter Ended				Three Quarters Ended
		Jul 2, 2023		Jul 3, 2022		Jul 2, 2023		Jul 3, 2022
Non-Designated Derivatives:
Dairy	Interest income and other, net	$	(0.1)	$	0.1	$	(0.1)	$	0.2
Foreign currency - other	Interest income and other, net	—		6.4		(10.0)		28.2
Coffee	Interest income and other, net	—		(0.2)		(5.5)		9.1
Diesel fuel and other commodities	Interest income and other, net	(1.0)		3.3		(2.9)		4.0
Fair Value Hedges:
Interest rate swap	Interest expense	(12.2)		(11.6)		(9.1)		(37.7)
Long-term debt (hedged item)	Interest expense	3.4		14.5		(12.0)		47.5

Notional Amounts of Outstanding Derivative Contracts

Notional amounts of outstanding derivative contracts (in millions):

	Jul 2, 2023		Oct 2, 2022
Coffee	$	373	$	649
Cross-currency swaps	1,092		741
Dairy	67		94
Diesel fuel and other commodities	24		33
Foreign currency - other	1,190		1,269
Interest rate swaps	1,100		1,100

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	Jul 2, 2023		Oct 2, 2022
Designated Derivative Instruments:
Cross-currency swaps	Other long-term assets	$	117.3	$	115.4
Dairy	Prepaid expenses and other current assets	0.1		0.5
Foreign currency - other	Prepaid expenses and other current assets	27.3		39.9
	Other long-term assets	17.4		33.5
Non-designated Derivative Instruments:
Diesel fuel and other commodities	Prepaid expenses and other current assets	0.2		0.4
Foreign currency	Prepaid expenses and other current assets	6.7		34.3
	Other long-term assets	—		7.3
		Derivative Liabilities
	Balance Sheet Location	Jul 2, 2023		Oct 2, 2022
Designated Derivative Instruments:
Dairy	Accrued liabilities	$	3.0	$	2.9
Foreign currency - other	Accrued liabilities	5.5		0.3
	Other long-term liabilities	5.5		—
Interest rate swaps	Accrued liabilities	12.9		12.0
	Other long-term liabilities	37.1		34.0
Non-designated Derivative Instruments:
Diesel fuel and other commodities	Accrued liabilities	1.2		—
Foreign currency	Accrued liabilities	2.0		5.8

Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

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

	Carrying amount of hedged item				Cumulative amount of fair value hedging adjustment included in the carrying amount
	Jul 2, 2023		Oct 2, 2022		Jul 2, 2023		Oct 2, 2022
Location on the balance sheet
Long-term debt	$	1,059.7	$	1,047.7	$	(40.3)	$	(52.3)