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Fair Value Measurements (Tables)

9 Months Ended

Jul. 01, 2023

Fair Value Disclosures [Abstract]

Fair Value Assets and Liabilities Measured on Recurring Basis

Assets and liabilities measured and recorded at fair value on a recurring basis consisted of the following at July 1, 2023: 

									Fair Value at Reporting Date Using
			Balance as of July 1, 2023						Quoted Prices in Active Market for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets:
Interest rate swaps			$	31.7					$	—					$	31.7					$	—
Forward foreign currency contracts			2.7						—						2.7						—
Total			$	34.4					$	—					$	34.4					$	—
Liabilities:
Contingent consideration			$	4.5					$	—					$	—					$	4.5
Forward foreign currency contracts			0.6						—						0.6						—
Total			$	5.1					$	—					$	0.6					$	4.5

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 nine month periods ended July 1, 2023 and June 25, 2022 were as follows:

						Three Month Ended												Nine Months Ended
						July 1, 2023						June 25, 2022						July 1, 2023						June 25, 2022
Balance at beginning of period						$	3.4					$	58.8					$	23.4					$	75.1
			Contingent consideration recorded at acquisition			1.1						—						1.1						—
			Fair value adjustments			—						(35.4)						(12.4)						(39.5)
			Payments			—						—						(7.6)						(12.2)
Balance at end of period						$	4.5					$	23.4					$	4.5					$	23.4

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- References

No definition available.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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