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Borrowings and Credit Arrangements (Tables)

9 Months Ended

Jul. 01, 2023

Debt Disclosure [Abstract]

Company's Borrowings

The Company’s borrowings consisted of the following: 

			July 1, 2023						September 24, 2022
Current debt obligations, net of debt discount and deferred issuance costs:
Term Loan			$	31.8					$	15.0
Total current debt obligations			$	31.8					$	15.0
Long-term debt obligations, net of debt discount and issuance costs:
Term Loan			1,454.5						1,475.7
2028 Senior Notes			396.6						396.1
2029 Senior Notes			938.2						936.6
Total long-term debt obligations			$	2,789.3					$	2,808.4
Total debt obligations			$	2,821.1					$	2,823.4

Schedule of Line of Credit Facilities

Interest expense, weighted average interest rates, and the interest rate at the end of period under the 2021 Credit Agreement were as follows: 

			Three Months Ended												Nine Months Ended
			July 1, 2023						June 25, 2022						July 1, 2023						June 25, 2022
Interest expense			$	24.3					$	7.8					$	67.2					$	18.8
Weighted average interest rate			6.17		%				1.67		%				5.65		%				1.30		%
Interest rate at end of period			6.20		%				2.63		%				6.20		%				2.63		%

Schedule Of Interest Expense Under Convertible Notes

Interest expense for the 2029 Senior Notes and 2028 Senior Notes was as follows:

									Three Months Ended												Nine Months Ended
			Interest Rate						July 1, 2023						June 25, 2022						July 1, 2023						June 25, 2022
2028 Senior Notes			4.625		%				4.8						4.8						14.8						14.4
2029 Senior Notes			3.250		%				8.2						8.2						25.3						24.6
Total									$	13.0					$	13.0					$	40.1					$	39.0

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Schedule of interest expense under convertible notes.

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Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(b),22(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

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