Other Balance Sheet Information

3 Months Ended

Dec. 31, 2022

Balance Sheet Related Disclosures [Abstract]


	December 31, 2022		September 24, 2022
Inventories
Raw materials	$	308.4	$	252.9
Work-in-process	70.7		60.1
Finished goods	298.6		310.7
	$	677.7	$	623.7


Property, plant and equipment
Equipment	$	396.3	$	394.8
Equipment under customer usage agreements	506.0		486.5
Building and improvements	206.1		196.0
Leasehold improvements	46.7		44.8
Land	41.1		40.9
Furniture and fixtures	18.0		16.7
Finance lease right of use asset	8.3		7.5
	$	1,222.5	$	1,187.2
Less – accumulated depreciation and amortization	(728.2)		(705.6)
	$	494.3	$	481.6

In September 2020 and October 2020, the Company was awarded grants of $7.6 million and $119.3 million, respectively, from the Department of Defense Joint Acquisition Task Force ("DOD") to expand production capacity for the Company's two SARS-CoV-2 assays. These grants were specifically to fund capital equipment and labor investments to increase manufacturing capacity to enable the Company to provide a certain amount of COVID-19 tests per month for the U.S. market. The Company is accounting for the funds received under these grants as a reimbursement of the purchased capital equipment. The Company procures and pays for the capital equipment and necessary resources to build out its facility and construct the manufacturing lines to meet the requirements specified in the grant agreement. Subsequent to the Company paying for the capital equipment, the DOD will reimburse the Company upon it meeting certain requirements. However, the DOD retains title to assets purchased under the agreement, and title is transferred to the Company upon meeting certain milestones of the manufacturing efforts and obtaining approval from the DOD that the respective milestone has been met. As of December 31, 2022, the Company had $20.5 million of capital equipment that was awaiting approval from the DOD pending approval of completion of the defined milestones. In fiscal 2022, the Company received $75.0 million from the DOD for reimbursement of capital equipment, which was recorded as a reduction of the cost basis of the purchased equipment. In addition, a portion of the DOD grant funds expenditures in connection with the project that do not qualify for capitalization and are recorded as a reduction to expenses, which was $7.6 million in fiscal 2022. During the three months ended December 31, 2022 and December 25, 2021, the Company received $0.0 million and $21.3 million, respectively, from the DOD, which was recorded as a reduction of the cost basis of the purchased equipment. Payments under these grants are subject to satisfaction of the conditions of the grants, including applicable governmental appropriations.