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Derivatives (Tables)

9 Months Ended

Jul. 01, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments, Gain (Loss)

			Three Months Ended												Nine Months Ended
			July 1, 2023						June 25, 2022						July 1, 2023						June 25, 2022
Amount of realized gain (loss) recognized in income
Forward foreign currency contracts			$	1.4					$	19.6					$	(1.3)					$	42.4
Foreign currency option contracts			(1.2)						—						(2.7)						—
			$	0.2					$	19.6					$	(4.0)					$	42.4
Amount of unrealized gain (loss) recognized in income
Forward foreign currency contracts			$	—					$	2.5					$	(13.8)					$	9.2
Foreign currency option contracts			1.0						—						(6.8)						—
			$	1.0					$	2.5					$	(20.6)					$	9.2
Amount of gain (loss) recognized in income
Total			$	1.2					$	22.1					$	(24.6)					$	51.6

Schedule of Derivative Assets at Fair Value

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the balance sheet as of July 1, 2023:

			Balance Sheet Location						July 1, 2023						September 24, 2022
Assets:
Derivative instruments designated as a cash flow hedge:
Interest rate swap contracts			Prepaid expenses and other current assets						$	24.0					$	31.9
Interest rate swap contracts			Other assets						7.7						7.0
									$	31.7					$	38.9
Derivatives not designated as hedging instruments:
Forward foreign currency contracts			Prepaid expenses and other current assets						$	2.7					$	15.8
Foreign currency option contracts			Prepaid expenses and other current assets						—						10.6
									$	2.7					$	26.4
Liabilities:
Derivatives not designated as hedging instruments:
Forward foreign currency contracts			Accrued expenses						$	0.6					$	—

Schedule of Unrealized Loss Recognized in AOCI

The following table presents the unrealized gain (loss) recognized in AOCI related to interest rate swaps for the following reporting periods:

			Three Months Ended												Nine Months Ended
			July 1, 2023						June 25, 2022						July 1, 2023						June 25, 2022
Amount of (loss) gain recognized in other comprehensive income, net of taxes:
Interest rate swaps			$	3.7					$	8.4					$	(5.6)					$	35.7
Total			$	3.7					$	8.4					$	(5.6)					$	35.7

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- References

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- Definition

Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C

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Tabular disclosure of derivative assets at fair value.

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
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-Section 50
-Paragraph 4C
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-SubTopic 10
-Section 50
-Paragraph 4A
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A

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