v3.26.1
Debt
9 Months Ended
Jun. 27, 2026
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 27, 2026 and September 27, 2025, the Company had $2.0 billion and $8.0 billion of commercial paper outstanding, respectively. The following table provides a summary of cash flows associated with commercial paper for the nine months ended June 27, 2026 and June 28, 2025 (in millions):
Nine Months Ended
June 27,
2026
June 28,
2025
Maturities 90 days or less:
Repayments of commercial paper, net$(2,123)$(5,690)
Maturities greater than 90 days:
Proceeds from commercial paper— 5,625 
Repayments of commercial paper(3,788)— 
Proceeds from/(Repayments of) commercial paper, net(3,788)5,625 
Total repayments of commercial paper, net$(5,911)$(65)
Term Debt
As of June 27, 2026 and September 27, 2025, the Company had outstanding fixed-rate notes with varying maturities for an aggregate carrying amount of $82.3 billion and $90.7 billion, respectively (collectively the “Notes”). As of June 27, 2026 and September 27, 2025, the fair value of the Company’s Notes, based on Level 2 inputs, was $71.2 billion and $80.4 billion, respectively.