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Borrowings (Tables)
 12 Months Ended
Oct. 01, 2021
Debt Disclosure [Abstract]  
Schedule of Long-term Debt The following table presents certain information regarding the Company’s long-term debt at October 1, 2021 and October 2, 2020 (dollars in thousands):
Interest RateMaturityOctober 1, 2021October 2, 2020
Revolving Credit FacilityLIBOR + applicable margin (1)March 2024$327,794 $152,794 
2021 Term Loan FacilityLIBOR + applicable margin (2)March 20241,081,724 — 
2020 Term Loan FacilityLIBOR + applicable margin (3)March 2025 (4)988,940 1,025,826 
Fixed-rate notes due:
Senior Notes, Series A4.27%May 2025190,000 190,000 
Senior Notes, Series B4.42%May 2028180,000 180,000 
Senior Notes, Series C4.52%May 2030130,000 130,000 
Less: Current Portion (4)(53,456)— 
Less: Deferred Financing Fees(5,069)(1,679)
Total Long-term debt, net$2,839,933 $1,676,941 
(1)Depending on the Company’s Consolidated Leverage Ratio (as defined in the credit agreement governing the Revolving Credit Facility (defined below)), borrowings under the Revolving Credit Facility bear interest at either a eurocurrency rate plus a margin of between 0.875% and 1.625% or a base rate plus a margin of between 0% and 0.625%.The applicable LIBOR rates, including applicable margins, at October 1, 2021 and October 2, 2020 were approximately 1.45% and 1.39%.
(2)Depending on the Company’s Consolidated Leverage Ratio (as defined in the credit agreement governing the 2021 Term Loan Facility (defined below)), borrowings under the 2021 Term Loan Facility bear interest at either a eurocurrency rate plus a margin of between 0.875% and 1.625% or a base rate plus a margin of between 0% and 0.625%. The applicable LIBOR rate, including applicable margin, at October 1, 2021 was approximately 1.43%.
(3)Depending on the Company’s Consolidated Leverage Ratio (as defined in the credit agreement governing the 2020 Term Loan Facility (defined below)), borrowings under the 2020 Term Loan Facility bear interest at either a eurocurrency rate plus a margin of between 0.875% and 1.5% or a base rate plus a margin of between 0% and 0.5%. The applicable LIBOR rates, including applicable margins, at October 1, 2021 and October 2, 2020 were approximately 1.45% and 1.37%.
(4)The 2020 Term Loan requires quarterly principal repayments of 1.25%, or $9.125 million and £3.125 million, of the aggregate initial principal amount borrowed.
Schedule of Interest Expense
The following table presents the amount of interest paid by the Company during October 1, 2021, October 2, 2020 and September 27, 2019 (in thousands):
For the Years Ended
October 1, 2021October 2, 2020September 27, 2019
$54,860$58,257$81,582