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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Sep. 27, 2014
Accounting Policies [Abstract] |
Summary of Marketable Securities | The following reconciles cost basis to fair market value.
|  | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
As of September 27, 2014 |  | $ | 15.5 |  |  | $ | 10.2 |  |  | $ | (1.3 | ) |  | $ | 24.4 |
As of September 28, 2013 |  | $ | 5.9 |  |  | $ | 12.2 |  |  | $ | — |  |  | $ | 18.1 |
As of September 29, 2012 |  | $ | 5.9 |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | 6.0 |
Supplemental Cash Flow Statement Information | Supplemental Cash Flow Statement Information
|  | Years ended
September 27, 2014 |  | September 28, 2013 |  | September 29, 2012
Cash paid during the period for income taxes |  | $ | 231.8 |  |  | $ | 79.9 |  |  | $ | 166.6 |
Cash paid during the period for interest |  | $ | 155.7 |  |  | $ | 192.8 |  |  | $ | 55.0 |
Non-Cash Investing Activities: |  |  |  |  |  |
Fair value of stock options assumed in the Gen-Probe acquisition |  | $ | — |  |  | $ | — |  |  | $ | 2.7 |
Non-Cash Financing Activities: |  |  |  |  |  |
Fair value of contingent consideration at acquisition |  | $ | — |  |  | $ | 0.5 |  |  | $ | — |
Deferred payments for acquisitions |  | $ | — |  |  | $ | — |  |  | $ | 1.7 |
Schedule of Inventories | Inventories consisted of the following:
|  | September 27, 2014 |  | September 28, 2013
Raw materials |  | $ | 115.6 |  |  | $ | 115.6 |
Work-in-process |  | 57.1 |  |  | 51.2 |
Finished goods |  | 157.9 |  |  | 122.6 |
|  | $ | 330.6 |  |  | $ | 289.4 |
Schedule of Property, Plant and Equipment | Property, plant and equipment consisted of the following as of:
|  | September 27, 2014 |  | September 28, 2013
Equipment and software |  | $ | 342.5 |  |  | $ | 318.5 |
Equipment under customer usage agreements |  | 285.2 |  |  | 275.7 |
Buildings and improvements |  | 176.9 |  |  | 171.5 |
Leasehold improvements |  | 63.2 |  |  | 68.1 |
Land |  | 51.6 |  |  | 51.6 |
Furniture and fixtures |  | 16.3 |  |  | 22.6 |
|  | 935.7 |  |  | 908.0 |
Less - accumulated depreciation and amortization |  | (473.8 | ) |  | (416.5 | )
|  | $ | 461.9 |  |  | $ | 491.5 |
Property, plant and equipment are depreciated over the following estimated useful lives:
Asset Classification |  | Estimated Useful Life
Building and improvements |  | 35–40 years
Equipment and software |  | 3–10 years
Equipment under customer usage agreements |  | 3–8 years
Furniture and fixtures |  | 5–7 years
Leasehold improvements |  | Shorter of the Original Term of Lease or Estimated Useful Life
Schedule of Intangible Assets | Intangible assets consisted of the following:
|  | September 27, 2014 |  | September 28, 2013
Description |  | Gross Carrying Value |  | Accumulated Amortization |  | Gross Carrying Value |  | Accumulated Amortization
Developed technology |  | $ | 3,951.1 |  |  | $ | 1,390.5 |  |  | $ | 4,009.0 |  |  | $ | 1,094.5 |
In-process research and development |  | 17.9 |  |  | — |  |  | 24.0 |  |  | — |
Customer relationships and contracts |  | 1,102.4 |  |  | 384.7 |  |  | 1,101.9 |  |  | 296.5 |
Trade names |  | 236.5 |  |  | 105.3 |  |  | 238.1 |  |  | 81.8 |
Patents |  | 14.5 |  |  | 8.9 |  |  | 13.0 |  |  | 8.5 |
Business licenses |  | 2.6 |  |  | 2.0 |  |  | 2.6 |  |  | 0.6 |
|  | $ | 5,325.0 |  |  | $ | 1,891.4 |  |  | $ | 5,388.6 |  |  | $ | 1,481.9 |
Schedule of Estimated Amortization Expense | The estimated amortization expense at September 27, 2014 for each of the five succeeding fiscal years was as follows:
Fiscal 2015 | $ | 403.3 |
Fiscal 2016 | $ | 374.5 |
Fiscal 2017 | $ | 365.4 |
Fiscal 2018 | $ | 354.9 |
Fiscal 2019 | $ | 343.1 |
Rollforward of Goodwill Activity by Reportable Segment | A rollforward of goodwill activity by reportable segment from September 28, 2013 to September 27, 2014 is as follows:
| Diagnostics |  | Breast Health |  | GYN Surgical |  | Skeletal Health |  | Total
Balance at September 28, 2013 | $ | 1,153.5 |  |  | $ | 636.4 |  |  | $ | 1,016.4 |  |  | $ | 8.2 |  |  | $ | 2,814.5 |
Disposition of a portion of a reporting unit | (0.2 | ) |  | (0.7 | ) |  | — |  |  | — |  |  | (0.9 | )
Tax adjustments | (0.7 | ) |  | — |  |  | — |  |  | — |  |  | (0.7 | )
Foreign currency and other | 1.5 |  |  | (4.0 | ) |  | 0.4 |  |  | — |  |  | (2.1 | )
Balance at September 27, 2014 | $ | 1,154.1 |  |  | $ | 631.7 |  |  | $ | 1,016.8 |  |  | $ | 8.2 |  |  | $ | 2,810.8 |
Rollforward of Accumulated Goodwill Impairment Losses by Reportable Segment | A rollforward of accumulated goodwill impairment losses by reportable segment from September 28, 2013 to September 27, 2014 is as follows:
|  | Diagnostics |  | Breast Health |  | GYN Surgical |  | Total
Balance at September 28, 2013 |  | $ | 2,025.7 |  |  | $ | 348.4 |  |  | $ | 1,165.8 |  |  | $ | 3,539.9 |
Impairment charge |  | — |  |  | — |  |  | — |  |  | — |
Balance at September 27, 2014 |  | $ | 2,025.7 |  |  | $ | 348.4 |  |  | $ | 1,165.8 |  |  | $ | 3,539.9 |
Schedule of Other Assets | Other assets consisted of the following:
|  | September 27, 2014 |  | September 28, 2013
Other Assets |  |  |  |
Deferred financing costs |  | $ | 44.9 |  |  | $ | 60.6 |
Life insurance contracts |  | 22.4 |  |  | 33.9 |
Mutual funds |  | 15.4 |  |  | 6.9 |
Marketable securities |  | 24.4 |  |  | 18.1 |
Manufacturing access fees |  | 14.1 |  |  | 16.0 |
Cost-method equity investments |  | 5.2 |  |  | 12.6 |
Other |  | 16.2 |  |  | 15.8 |
|  | $ | 142.6 |  |  | $ | 163.9 |
Components of Accumulated Other Comprehensive Income | The components of accumulated other comprehensive income consisted of the following:
|  | September 27, 2014 |  | September 28, 2013
Foreign currency translation adjustment |  | $ | (4.7 | ) |  | $ | 8.6 |
Unrealized gains on available-for-sale securities |  | 8.9 |  |  | 12.1 |
Minimum pension liability, net of tax of $0.2 and $0.2, respectively |  | (1.6 | ) |  | (0.3 | )
|  | $ | 2.6 |  |  | $ | 20.4 |
Accounts Receivable Reserve Activity | Accounts receivable reserve activity for fiscal 2014, 2013 and 2012 was as follows:
|  | Balance at Beginning of Period |  | Charged to Costs and Expenses |  | Write- offs and Payments |  | Balance at End of Period
Period Ended: |  |  |  |  |  |  |  |
September 27, 2014 |  | $ | 8.8 |  |  | $ | 4.4 |  |  | $ | (1.2 | ) |  | $ | 12.0 |
September 28, 2013 |  | $ | 6.4 |  |  | $ | 4.3 |  |  | $ | (1.9 | ) |  | $ | 8.8 |
September 29, 2012 |  | $ | 6.5 |  |  | $ | 3.3 |  |  | $ | (3.4 | ) |  | $ | 6.4 |
Schedule of Reconciliation of Basic and Diluted Share Amounts | A reconciliation of basic and diluted share amounts for fiscal 2014, 2013, and 2012 was as follows:
|  | September 27, 2014 |  | September 28, 2013 |  | September 29, 2012
Basic weighted average common shares outstanding |  | 275,499 |  |  | 268,704 |  |  | 264,041 |
Weighted average common stock equivalents from assumed exercise of stock options and restricted stock units |  | 2,368 |  |  | — |  |  | — |
Incremental shares from assumed conversion of the Convertible Notes premium |  | 493 |  |  | — |  |  | — |
Diluted weighted average common shares outstanding |  | 278,360 |  |  | 268,704 |  |  | 264,041 |
Weighted-average anti-dilutive shares related to: |  |  |  |  |  |
Outstanding stock options |  | 5,033 |  |  | 8,445 |  |  | 10,491 |
Restricted stock units |  | 20 |  |  | 1,109 |  |  | 1,378 |
Schedule of Product Warranty Activity | Product warranty activity for fiscal 2014 and 2013 was as follows:
|  | Balance at Beginning of Period |  | Provisions |  | Settlements/ Adjustments |  | Balance at End of Period
Period ended: |  |  |  |  |  |  |  |
September 27, 2014 |  | $ | 9.3 |  |  | $ | 7.1 |  |  | $ | (10.1 | ) |  | $ | 6.3 |
September 28, 2013 |  | $ | 6.2 |  |  | $ | 12.8 |  |  | $ | (9.7 | ) |  | $ | 9.3 |

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