v3.26.1
Derivative Financial Instruments (Tables)
 6 Months Ended
Mar. 29, 2026
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)
Mar 29, 2026Sep 28, 2025
Cash Flow Hedges:
Coffee$27.4 $23.3 $26.2 9
Foreign currency - other28.1 19.0 17.6 35
Interest rates0.4 (1.4)(3.4)0
Net Investment Hedges:
Cross-currency swaps215.9 206.2 96
Foreign currency16.0 16.0 0
Foreign currency debt135.2 135.2 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 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)
Mar 29, 2026Mar 30, 2025Mar 29, 2026Mar 30, 2025
Cash Flow Hedges:
Coffee$1.6 $0.6 $(17.8)$17.4 Product and distribution costs
Cross-currency swaps— — — 0.6 Interest income and other, net
Dairy— (0.2)— — Product and distribution costs
Foreign currency - other17.4 (7.0)5.7 7.4 Licensed stores revenue
1.7 2.6 Product and distribution costs
Interest rates— — (1.2)(1.0)Interest expense
Net Investment Hedges:
Cross-currency swaps (1)
8.4 13.1 24.1 27.7 Interest expense

Two Quarters Ended
Gains/(Losses) Recognized in
OCI Before Reclassifications		Gains/(Losses) Reclassified from
AOCI to Earnings		Location of gain/(loss)
Mar 29, 2026Mar 30, 2025Mar 29, 2026Mar 30, 2025
Cash Flow Hedges:
Coffee$(12.6)$13.4 $(17.6)$45.1 Product and distribution costs
Cross-currency swaps— 0.9 — 1.4 Interest income and other, net
Dairy— (1.3)— 1.4 Product and distribution costs
Foreign currency - other27.4 50.0 12.4 16.2 Licensed stores revenue
3.3 4.3 Product and distribution costs
Interest rates— — (2.4)(2.0)Interest expense
Net Investment Hedges:
Cross-currency swaps (1)
63.8 220.6 50.8 55.4 Interest expense
(1) Gains and losses recognized in earnings relate to components excluded from the assessment of effectiveness.
Pretax Gains and Losses on Derivative Contracts Not Designated as Hedging Instruments Recognized in Earnings
Pre-tax gains and losses on non-designated derivatives and designated fair value hedging instruments and the related fair value hedged item recognized in earnings (in millions):
Gains/(Losses) Recognized in Earnings
Location of gain/(loss) recognized in earnings Quarter EndedTwo Quarters Ended
 Mar 29, 2026Mar 30, 2025Mar 29, 2026Mar 30, 2025
Non-Designated Derivatives:
DairyInterest income and other, net$— $— $— $0.1 
Cross-currency swaps
Interest income and other, net
(2.0)— (2.0)— 
Foreign currency - otherInterest income and other, net3.5 (2.8)5.4 6.1 
Diesel fuel and other commoditiesInterest income and other, net— (0.2)— (0.3)
Fair Value Hedges:
Interest rate swaps
Interest expense(3.7)4.6 (4.0)(8.5)
Long-term debt (hedged item)Interest expense2.2 (6.8)0.7 3.8 
Notional Amounts of Outstanding Derivative Contracts
Notional amounts of outstanding derivative contracts (in millions):
Mar 29, 2026Sep 28, 2025
Coffee$193 $387 
Cross-currency swaps(1)
1,697 4,197 
Diesel fuel and other commodities— 2 
Foreign currency - other 976 930 
Interest rate swaps350 350 
Fair Value of Outstanding Derivative Contracts
Fair value of outstanding derivative contracts (in millions) including the location of the asset and/or liability on the consolidated balance sheets:
Derivative Assets
Balance Sheet LocationMar 29, 2026Sep 28, 2025
Designated Derivative Instruments(2):
Cross-currency swapsOther long-term assets379.9 271.9 
Foreign currency - otherPrepaid expenses and other current assets21.7 13.0 
Other long-term assets13.4 6.7 
Non-designated Derivative Instruments:
Diesel fuel and other commoditiesPrepaid expenses and other current assets— 0.1 
Foreign currencyPrepaid expenses and other current assets2.3 2.7 
Derivative Liabilities
Balance Sheet LocationMar 29, 2026Sep 28, 2025
Designated Derivative Instruments:
Cross-currency swapsAccrued liabilities$— $5.8 
Other long-term liabilities— 3.5 
Foreign currency - otherAccrued liabilities0.1 0.2 
Other long-term liabilities0.1 0.2 
Interest rate swapsOther long-term liabilities17.1 17.0 
Non-designated Derivative Instruments:
Foreign currencyAccrued liabilities0.5 1.1 
Other long-term liabilities— 0.2 
(1) The reduction in hedged notional in the current period reflects the maturity and early termination of Net Investment Hedges related to the divestiture of Starbucks retail operations in China. The AOCI will be released to earnings in the third quarter of fiscal 2026 consistent with the timing of the transaction closing.
(2) We also hold cash and cash equivalents from various settled-to-market exchange traded futures related to coffee hedging.
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 itemCumulative amount of fair value hedging adjustment included in the carrying amount
Mar 29, 2026Sep 28, 2025Mar 29, 2026Sep 28, 2025
Location on the balance sheet
Long-term debt$333.4 $334.1 $(16.6)$(15.9)