v3.26.1
Sales of Receivables
 9 Months Ended
Jul. 03, 2026
Transfers and Servicing of Financial Assets [Abstract]  
Sales of Receivables Sales of Receivables
In March 2024, we entered into a Master Accounts Receivable Purchase Agreement (“MARPA”) with MUFG Bank, Ltd., (the “Purchaser”) for the sale of certain designated eligible U.S. Government receivables. In December 2024, we amended the MARPA with the Purchaser to increase the maximum amount of eligible receivables that can be sold up to a maximum amount of $400 million. In March 2026, we amended the MARPA with the Purchaser to include the sale of certain eligible receivables and to make certain other confirming modifications. Under the MARPA, the Company can sell certain eligible receivables without recourse for any U.S. Government credit risk.
The Company's MARPA activity consisted of the following (in millions):
As of and for the Nine Months Ended
July 3, 2026June 27, 2025
Beginning balance:$180 $177 
Sales of receivables3,379 2,886 
Cash collections(3,259)(2,844)
Outstanding balance sold to Purchaser (1)
300 219 
Cash collected, not remitted to Purchaser (2)
(142)(40)
Remaining sold receivables$158 $179 
(1)    For the nine months ended July 3, 2026 and June 27, 2025, the Company recorded a net cash inflow of $120 million and $42 million in its cash flows from operating activities, respectively, from sold receivables. MARPA cash flows are calculated as the change in the outstanding balance during the fiscal year.
(2)    Includes the cash collected on behalf of but not yet remitted to the Purchaser as of July 3, 2026 and June 27, 2025. This balance is included in Other current liabilities as of the balance sheet date.