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Stock-Based Compensation
 3 Months Ended
Dec. 27, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation
Stock-Based Compensation
The following presents stock-based compensation expense in the Company’s Consolidated Statements of Operations:
 
Three Months Ended
 
December 27,
2014
 
December 28,
2013
Cost of revenues
$
2.0

 
$
1.5

Research and development
1.9

 
1.9

Selling and marketing
2.0

 
1.7

General and administrative
6.1

 
3.8

Restructuring and divestiture
0.1

 
4.8

 
$
12.1

 
$
13.7


The Company granted approximately 1.0 million and 2.0 million stock options during the three months ended December 27, 2014 and December 28, 2013, respectively, with weighted-average exercise prices of $26.12 and $21.82, respectively. There were 9.2 million options outstanding at December 27, 2014 with a weighted-average exercise price of $21.34.
The Company uses a binomial model to determine the fair value of its stock options. The weighted-average assumptions utilized to value these stock options are indicated in the following table:
 
 
Three Months Ended
 
December 27,
2014
 
December 28,
2013
Risk-free interest rate
1.7
%
 
1.2
%
Expected volatility
38.6
%
 
41.4
%
Expected life (in years)
5.3

 
4.4

Dividend yield
—

 
—

Weighted average fair value of options granted
$
9.44

 
$
7.64


The Company granted approximately 1.3 million and 2.0 million restricted stock units (RSUs) during the three months ended December 27, 2014 and December 28, 2013, respectively, with weighted-average grant date fair values of $26.17 and $21.51, respectively. As of December 27, 2014, there were 4.0 million unvested RSUs outstanding with a weighted-average grant date fair value of $22.95. In addition, consistent with the Company's annual grant in fiscal 2014, the Company granted approximately 0.3 million performance stock units (PSUs) in the first quarter of fiscal 2015 to members of its senior management team, which have a weighted-average grant date fair value of $26.21. Each recipient of PSUs is eligible to receive between zero and 200% of the target number of shares of the Company’s common stock at the end of three years provided the Company’s defined Return on Invested Capital metrics are achieved. The Company is recognizing compensation expense ratably over the required service period based on its estimate that it is probable the targeted number of shares will vest. If there is a change in the estimate of the number of shares that are probable of vesting, the Company will cumulatively adjust compensation expense in the period that the change in estimate is made.
At December 27, 2014, there was $29.4 million and $90.5 million of unrecognized compensation expense related to stock options and stock units (comprised of RSUs and PSUs), respectively, to be recognized over a weighted-average period of 3.7 years and 3.0 years, respectively.