Deferred Revenue (Tables)

9 Months Ended

Jul. 02, 2023

Revenue from Contract with Customer [Abstract]

Changes in Deferred Revenue Balance Related to Stored Value Cards and Loyalty Program

Changes in our deferred revenue balance related to our stored value cards and loyalty program (in millions):

Quarter Ended July 2, 2023	Total
Stored value cards and loyalty program at April 2, 2023	$	1,664.5
Revenue deferred - card activations, card reloads and Stars earned	3,641.3
Revenue recognized - card and Stars redemptions and breakage	(3,662.9)
Other(1)	(14.7)
Stored value cards and loyalty program at July 2, 2023(2)	$	1,628.2
Quarter Ended July 3, 2022	Total
Stored value cards and loyalty program at April 3, 2022	$	1,645.2
Revenue deferred - card activations, card reloads and Stars earned	3,282.6
Revenue recognized - card and Stars redemptions and breakage	(3,312.3)
Other(1)	(21.7)
Stored value cards and loyalty program at July 3, 2022(2)	$	1,593.8
Three Quarters Ended July 2, 2023	Total
Stored value cards and loyalty program at October 2, 2022	$	1,503.0
Revenue deferred - card activations, card reloads and Stars earned	11,280.7
Revenue recognized - card and Stars redemptions and breakage	(11,155.4)
Other(1)	(0.1)
Stored value cards and loyalty program at July 2, 2023(2)	$	1,628.2
Three Quarters Ended July 3, 2022	Total
Stored value cards and loyalty program at October 3, 2021	$	1,448.5
Revenue deferred - card activations, card reloads and Stars earned	10,324.1
Revenue recognized - card and Stars redemptions and breakage	(10,149.4)
Other(1)	(29.4)
Stored value cards and loyalty program at July 3, 2022(2)	$	1,593.8

(1)“Other” primarily consists of changes in the stored value cards and loyalty program balances resulting from foreign currency translation.

(2)As of July 2, 2023 and July 3, 2022, approximately $1.5 billion and $1.5 billion of these amounts were current, respectively.