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Stockholders' Equity and Stock-Based Compensation (Tables)
 12 Months Ended
Sep. 28, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation Expense in Consolidated Statement of Operations
The following presents stock-based compensation expense in the Company’s Consolidated Statements of Operations in fiscal 2019, 2018 and 2017:
 
 
2019
 
2018
 
2017
Cost of revenues
 
$
7.1

 
$
8.3

 
$
10.7

Research and development
 
9.2

 
9.5

 
11.2

Selling and marketing
 
10.2

 
10.3

 
11.9

General and administrative
 
35.5

 
35.6

 
34.4

Restructuring
 
—

 
1.3

 
—

 
 
$
62.0


$
65.0


$
68.2
Information Pertaining to Stock Options Granted and Related Assumptions Information pertaining to stock options granted during fiscal 2019, 2018 and 2017 and related assumptions are noted in the following table:
 
 
Years ended
September 28, 2019
 
September 29, 2018
 
September 30, 2017
Options granted (in millions)
 
1.0

 
1.7

 
1.0

Weighted-average exercise price
 
$
41.36

 
$
40.76

 
$
38.07

Weighted-average grant date fair value
 
$
13.54

 
$
12.98

 
$
12.33

Assumptions:
 
 
 
 
 
 
Risk-free interest rates
 
3.0
%
 
2.1
%
 
1.8
%
Expected life (in years)
 
4.8

 
4.7

 
4.7

Expected volatility
 
34.3
%
 
35.3
%
 
36.6
%
Dividend yield
 
—

 
—

 
—
Stock Option Activity
The following table summarizes all stock option activity under the Company’s stock option plans for the year ended September 28, 2019:
 
 
 
Number
of Shares (in millions)
 
Weighted-
Average
Exercise Price
 
Weighted-
Average
Remaining
Contractual Life
(in Years)
 
Aggregate
Intrinsic
Value (in millions)
Options outstanding at September 29, 2018
 
6.0

 
$
32.13

 
5.9
 
$
53.3

Granted
 
1.0

 
41.36

 
 
 
 
Canceled/ forfeited
 
(0.2
)
 
36.04

 
 
 
 
Exercised
 
(1.3
)
 
25.35

 
 
 
26.1

Options outstanding at September 28, 2019
 
5.5

 
$
35.23

 
6.1
 
$
78.4

Options exercisable at September 28, 2019
 
2.7

 
$
30.58

 
4.2
 
$
52.2

Options vested and expected to vest at September 28, 2019 (1)
 
5.4

 
$
35.20

 
6.1
 
$
78.1

 
(1)
This represents the number of vested stock options as of September 28, 2019 plus the unvested outstanding options at September 28, 2019 expected to vest in the future, adjusted for estimated forfeitures.
Restricted Stock Unit Activity
A summary of the Company’s RSU, PSU and MSU activity during the year ended September 28, 2019 is presented below:
 
Non-vested Shares
 
Number of
Shares
(in millions)
 
Weighted-Average
Grant-Date  Fair
Value
Non-vested at September 29, 2018
 
2.7

 
$
40.02

Granted
 
1.1

 
42.25

Vested
 
(1.1
)
 
37.28

Forfeited
 
(0.2
)
 
41.23

Non-vested at September 28, 2019
 
2.5

 
$
42.17
Black-Scholes Model Weighted Average Assumptions Used to Estimate Fair Value of Shares to Be Issued as of Grant Date
The Company uses the Black-Scholes model to estimate the fair value of shares to be issued as of the grant date using the following weighted average assumptions:
 
 
September 28, 2019
 
September 29, 2018
 
September 30, 2017
Assumptions:
 
 
 
 
 
 
Risk-free interest rates
 
2.27
%
 
1.62
%
 
0.72
%
Expected life (in years)
 
0.5

 
0.5

 
0.5

Expected volatility
 
27.1
%
 
25.0
%
 
24.9
%
Dividend yield
 
—

 
—

 
—