v3.25.3
Derivative Financial Instruments (Tables)
 12 Months Ended
Sep. 28, 2025
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 28,
2025		Sep 29,
2024		Oct 1,
2023
Cash Flow Hedges:
Coffee$23.3 $60.1 $(78.1)$20.0 6
Cross-currency swaps— 0.5 (0.6)— 0
Dairy— 2.0 (1.8)— 0
Foreign currency - other19.0 11.5 39.6 13.8 34
Interest rates(1.4)(3.6)(6.6)(3.6)0
Net Investment Hedges:
Cross-currency swaps206.2 96.5 87.1 — 102
Foreign currency16.0 16.0 16.0 — 0
Foreign currency debt135.2 135.2 140.2 — 0
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 28,
2025		Sep 29,
2024		Oct 1,
2023		Sep 28,
2025		Sep 29,
2024		Oct 1,
2023
Cash Flow Hedges:
Coffee$40.4 $100.8 $(152.9)$86.5 $(61.2)$110.5 Product and distribution costs
Cross-currency swaps0.9 2.7 4.9 — 1.4 3.1 Interest expense
1.4 0.1 0.3 Interest income and other, net
Dairy(1.3)1.3 (11.1)1.4 (3.8)(12.3)Product and distribution costs
Foreign currency - other41.4 1.2 9.4 22.5 28.2 23.6 Licensed stores revenues
9.1 10.0 6.7 Product and distribution costs
— — 0.2 
Interest income and other, net
Interest rates(1.3)— 0.3 (4.1)(4.0)1.4 Interest expense
Net Investment Hedges:
Cross-currency swaps (1)
255.9 62.0 54.1 109.0 49.6 27.4 Interest expense
Foreign currency debt— (6.3)19.1 — — — 
(1) Gains and losses recognized in earnings relate to components excluded from the assessment of effectiveness.
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 28, 2025Sep 29, 2024Oct 1, 2023
Non-Designated Derivatives:
DairyInterest income and other, net$0.1 $(0.1)$(0.1)
Diesel fuel and other commoditiesInterest income and other, net0.1 (1.9)(2.0)
CoffeeInterest income and other, net— — (5.4)
Foreign currency - otherInterest income and other, net2.4 0.1 (3.6)
Fair Value Hedges:
Interest rate swapInterest expense(7.1)9.9 (18.7)
Long-term debt (hedged item)Interest expense(2.0)(22.3)(12.3)
Notional Amounts of Outstanding Derivative Contracts
Notional amounts of outstanding derivative contracts (in millions):
Sep 28, 2025Sep 29, 2024
Coffee$387 $154 
Cross-currency swaps4,197 4,213 
Dairy— 65 
Diesel fuel and other commodities2 3 
Foreign currency - other930 920 
Interest rate swaps350 350 
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 LocationSep 28, 2025Sep 29, 2024
Designated Derivative Instruments(1):
Cross-currency swaps
Prepaid expenses and other current assets
$— $3.9 
Other long-term assets271.9 177.4 
DairyPrepaid expenses and other current assets— 0.8 
Foreign currency - otherPrepaid expenses and other current assets13.0 1.9 
Other long-term assets6.7 1.7 
Non-designated Derivative Instruments:
DairyPrepaid expenses and other current assets— 0.3 
Diesel fuel and other commoditiesPrepaid expenses and other current assets0.1 — 
Foreign currencyPrepaid expenses and other current assets2.7 1.8 
Derivative Liabilities
Balance Sheet LocationSep 28, 2025Sep 29, 2024
Designated Derivative Instruments:
Cross-currency swaps
Accrued liabilities
$5.8 $21.7 
Other long-term liabilities3.5 33.3 
Foreign currency - otherAccrued liabilities0.2 4.7 
Other long-term liabilities0.2 4.1 
Interest rate swaps
Other long-term liabilities17.0 19.2 
Non-designated Derivative Instruments:
Diesel fuel and other commodities
Accrued liabilities
— 0.3 
Foreign currencyAccrued liabilities1.1 2.5 
Other long-term liabilities0.2 0.1 
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 (in millions):
Carrying amount of hedged itemCumulative amount of fair value hedging adjustment included in the carrying amount
Sep 28, 2025Sep 29, 2024Sep 28, 2025Sep 29, 2024
Location on the balance sheet
Long-term debt
$334.1 $332.2 $(15.9)$(17.8)