v3.25.2
Debt
9 Months Ended
Jun. 28, 2025
Debt Disclosure [Abstract]  
Debt Debt
Commercial Paper
The Company issues unsecured short-term promissory notes pursuant to a commercial paper program. The Company uses net proceeds from the commercial paper program for general corporate purposes, including dividends and share repurchases. As of June 28, 2025 and September 28, 2024, the Company had $9.9 billion and $10.0 billion of commercial paper outstanding, respectively. The following table provides a summary of cash flows associated with commercial paper for the nine months ended June 28, 2025 and June 29, 2024 (in millions):
Nine Months Ended
June 28,
2025
June 29,
2024
Maturities 90 days or less:
Repayments of commercial paper, net$(5,690)$(2,985)
Maturities greater than 90 days:
Proceeds from commercial paper5,625 — 
Total repayments of commercial paper, net$(65)$(2,985)
Term Debt
As of June 28, 2025 and September 28, 2024, the Company had outstanding fixed-rate notes with varying maturities for an aggregate carrying amount of $91.8 billion and $96.7 billion, respectively (collectively the “Notes”). As of June 28, 2025 and September 28, 2024, the fair value of the Company’s Notes, based on Level 2 inputs, was $80.4 billion and $88.4 billion, respectively.