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Fair Value Measurements | 6 Months Ended
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Mar. 27, 2021
Fair Value Disclosures [Abstract] |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | Fair Value Measurements Assets/Liabilities Measured and Recorded at Fair Value on a Recurring Basis The Company has investments in derivative instruments comprised of an interest rate swap, forward foreign currency contracts and foreign currency option contracts, which are valued using analyses obtained from independent third party valuation specialists based on market observable inputs, representing Level 2 assets. The fair values of these derivative contracts represent the estimated amounts the Company would receive or pay to terminate the contracts. Refer to Note 9 for further discussion and information on derivative instruments. Assets and liabilities measured and recorded at fair value on a recurring basis consisted of the following at March 27, 2021:
|  |  | Fair Value at Reporting Date Using
| Balance as of March 27, 2021 |  | Quoted Prices in Active Market for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |
Foreign currency option contracts | $ | 1.1 |  |  | $ | — |  |  | $ | 1.1 |  |  | $ | — |
Total | $ | 1.1 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Contingent consideration | $ | 71.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 71.7 |
Interest rate swap | 24.9 |  |  | — |  |  | 24.9 |  |  | — |
Forward foreign currency contracts | 3.0 |  |  | — |  |  | 3.0 |  |  | — |
Total | $ | 99.6 |  |  | $ | — |  |  | $ | 27.9 |  |  | $ | 71.7 |
Liabilities Measured and Recorded at Fair Value on a Recurring Basis Changes in the fair value of recurring fair value measurements using significant unobservable inputs (Level 3), which solely consisted of contingent consideration liabilities, during the three and six month periods ended March 27, 2021 and March 28, 2020 were as follows:
|  | Three Month Ended |  | Six Months Ended
|  | March 27, 2021 |  | March 28, 2020 |  | March 27, 2021 |  | March 28, 2020
Balance at beginning of period | $ | 86.4 |  |  | $ | 10.0 |  |  | $ | 81.8 |  |  | $ | 9.1 |
| Contingent consideration recorded at acquisition | — |  |  | 0.9 |  |  | — |  |  | 0.9 |
| Fair value adjustments | (14.7) |  |  | (0.5) |  |  | (10.1) |  |  | 0.4 |
| Payments/Accruals | — |  |  | (9.6) |  |  | — |  |  | (9.6) |
Balance at end of period | $ | 71.7 |  |  | $ | 0.8 |  |  | $ | 71.7 |  |  | $ | 0.8 |
Assets Measured and Recorded at Fair Value on a Nonrecurring Basis The Company remeasures the fair value of certain assets and liabilities upon the occurrence of certain events. Such assets are comprised of equity investments and long-lived assets, including property, plant and equipment, intangible assets and goodwill. There were no such remeasurements to equity investments in the three and six months ended March 27, 2021 and March 28, 2020. During the first quarter of fiscal 2020, the Company's Medical Aesthetics division met the criteria to be classified as assets-held-for sale, and the Company recorded a $30.2 million loss to record the asset group at its fair value less costs to sell. This is a level 1 measurement. See Note 7 for additional information. Disclosure of Fair Value of Financial Instruments The Company’s financial instruments mainly consist of cash and cash equivalents, accounts receivable, equity investments, an interest rate swap, forward foreign currency contracts, foreign currency option contracts, insurance contracts, accounts payable and debt obligations. The carrying amounts of the Company’s cash and cash equivalents, accounts receivable and accounts payable approximate their fair value due to the short-term nature of these instruments. The Company’s interest rate swap, forward foreign currency contracts and foreign currency option contracts are recorded at fair value. The carrying amount of the insurance contracts are recorded at the cash surrender value, as required by GAAP, which approximates fair value. The Company believes the carrying amounts of its cost-method equity investments approximate fair value. Amounts outstanding under the Company’s 2018 Credit Agreement (as defined below) of $1.4 billion aggregate principal as of March 27, 2021 are subject to variable interest rates of interest based on current market rates, and as such, the Company believes the carrying amount of these obligations approximates fair value. The Company’s 2028 Senior Notes and 2029 Senior Notes had fair values of $421.7 million and $932.2 million, respectively, as of March 27, 2021 based on their trading prices, representing Level 1 measurements. Refer to Note 8 for the carrying amounts of the various components of the Company’s debt.

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- Definition The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -URI http://asc.fasb.org/topic&trid=2155941 + Details
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