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Income Taxes (Tables) | 12 Months Ended
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Sep. 25, 2021
Income Tax Disclosure [Abstract] |
Income (Loss) Before Income Taxes | The Company’s income (loss) before income taxes consisted of the following:
|  | Years ended
September 25, 2021 |  | September 26, 2020 |  | September 28, 2019
Domestic |  | $ | 2,267.8 |  |  | $ | 921.1 |  |  | $ | (174.3) |
Foreign |  | 93.3 |  |  | 80.8 |  |  | (83.4) |
|  | $ | 2,361.1 |  |  | $ | 1,001.9 |  |  | $ | (257.7) |
Provision for Income Taxes | The provision (benefit) for income taxes contained the following components:
|  | Years ended
September 25, 2021 |  | September 26, 2020 |  | September 28, 2019
Federal: |  |  |  |  |  |
Current |  | $ | 453.6 |  |  | $ | (62.1) |  |  | $ | 142.9 |
Deferred |  | (45.6) |  |  | (76.6) |  |  | (189.9) |
|  | 408.0 |  |  | (138.7) |  |  | (47.0) |
State: |  |  |  |  |  |
Current |  | 84.7 |  |  | 33.9 |  |  | 22.1 |
Deferred |  | (11.9) |  |  | (12.5) |  |  | (41.0) |
|  | 72.8 |  |  | 21.4 |  |  | (18.9) |
Foreign: |  |  |  |  |  |
Current |  | 23.2 |  |  | 14.0 |  |  | 16.5 |
Deferred |  | (12.6) |  |  | (5.3) |  |  | (4.7) |
|  | 10.6 |  |  | 8.7 |  |  | 11.8 |
|  | $ | 491.4 |  |  | $ | (108.6) |  |  | $ | (54.1) |
Reconciliation of Income Tax (Benefit) at U.S. Federal Statutory Rate to Company's Effective Tax Rate | The income tax provision (benefit) differed from the tax provision (benefit) computed at the U.S. federal statutory rate due to the following:
|  | Years ended
September 25, 2021 |  | September 26, 2020 |  | September 28, 2019
Income tax (benefit) provision at federal statutory rate |  | 21.0 | % |  | 21.0 | % |  | (21.0) | %
Increase (decrease) in tax resulting from: |  |  |  |  |  |
Loss on sale of Cynosure |  | — |  |  | (31.3) |  |  | — |
State income taxes, net of federal benefit |  | 2.7 |  |  | 2.9 |  |  | (0.7) |
U.S. tax on foreign earnings |  | (2.7) |  |  | (2.6) |  |  | (2.1) |
Internal restructuring |  | — |  |  | — |  |  | (3.8) |
Tax credits |  | (0.3) |  |  | (0.6) |  |  | (3.3) |
Tax reform |  | — |  |  | — |  |  | 2.0 |
Unrecognized tax benefits |  | 0.3 |  |  | — |  |  | (0.1) |
Compensation |  | 0.1 |  |  | 0.4 |  |  | 0.8 |
Foreign rate differential |  | (0.7) |  |  | (1.2) |  |  | (5.4) |
Change in deferred tax rate |  | (0.3) |  |  | (0.6) |  |  | — |
Change in valuation allowance |  | — |  |  | 1.3 |  |  | 9.5 |
Other |  | 0.7 |  |  | (0.1) |  |  | 3.1 |
|  | 20.8 | % |  | (10.8) | % |  | (21.0) | %
Significant Components of the Company's Deferred Tax Assets and Liabilities | The Company’s significant deferred tax assets and liabilities were as follows:
|  | September 25, 2021 |  | September 26, 2020
Deferred tax assets |  |  |  |
Net operating loss carryforwards |  | $ | 91.5 |  |  | $ | 81.1 |
Capital losses |  | 52.0 |  |  | 57.0 |
Non-deductible accruals |  | 34.9 |  |  | 24.9 |
Non-deductible reserves |  | 41.8 |  |  | 33.2 |
Stock-based compensation |  | 17.6 |  |  | 18.6 |
Tax credits |  | 10.0 |  |  | 10.2 |
Nonqualified deferred compensation plan |  | 16.8 |  |  | 14.4 |
Lease liability |  | 16.2 |  |  | 17.3 |
Other temporary differences |  | 17.4 |  |  | 25.2 |
|  | 298.2 |  |  | 281.9 |
Less: valuation allowance |  | (121.3) |  |  | (118.5) |
|  | $ | 176.9 |  |  | $ | 163.4 |
Deferred tax liabilities |  |  |  |
Depreciation and amortization |  | $ | (389.7) |  |  | $ | (333.9) |
Right of use asset |  | (15.8) |  |  | (15.8) |
|  | $ | (405.5) |  |  | $ | (349.7) |
|  | $ | (228.6) |  |  | $ | (186.3) |
Activity of the Company's Unrecognized Income Tax Benefits | The Company’s unrecognized income tax benefits activity for fiscal 2021 and 2020 was as follows:
|  | 2021 |  | 2020
Balance at beginning of fiscal year |  | $ | 197.1 |  |  | $ | 101.6 |
Tax positions related to current year: |  |  |  |
Additions |  | 8.0 |  |  | 109.6 |
Reductions |  | — |  |  | — |
Tax positions related to prior years: |  |  |  |
Additions related to change in estimate |  | 7.9 |  |  | 1.5 |
Reductions |  | (0.3) |  |  | (0.7) |
Payments |  | — |  |  | — |
Lapses in statutes of limitations |  | (1.7) |  |  | (15.6) |
Acquired tax positions: |  |  |  |
Additions related to reserves acquired from acquisitions |  | 1.8 |  |  | 0.7 |
Balance as of the end of the fiscal year |  | $ | 212.8 |  |  | $ | 197.1 |

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