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Fair Value Measurements (Tables) | 12 Months Ended
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Sep. 28, 2024
Fair Value Disclosures [Abstract] |
Fair Value Measurements | Assets and liabilities measured and recorded at fair value on a recurring basis consisted of the following:
|  |  | Fair Value Measurements at September 28, 2024
| Fair Value |  | Quoted Prices in Active Market for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |
Money market mutual funds | $ | 341.7 |  |  | $ | 341.7 |  |  | $ | — |  |  | $ | — |
U.S. Treasury securities | 626.3 |  |  | 626.3 |  |  | — |  |  | — |
Commercial paper | 24.9 |  |  | 24.9 |  |  | — |  |  | — |
Interest rate swaps | 3.1 |  |  | — |  |  | 3.1 |  |  | — |
Foreign currency option contracts | 0.8 |  |  | — |  |  | 0.8 |  |  | — |
Total | $ | 996.8 |  |  | $ | 992.9 |  |  | $ | 3.9 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Contingent consideration | $ | 1.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1.1 |
Interest rate swaps | 0.2 |  |  | — |  |  | 0.2 |  |  | — |
Forward foreign currency contracts | 12.6 |  |  | — |  |  | 12.6 |  |  | — |
Total | $ | 13.9 |  |  | $ | — |  |  | $ | 12.8 |  |  | $ | 1.1 |
|  |  | Fair Value Measurements at September 30, 2023
| Fair Value |  | 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 | $ | 26.9 |  |  | $ | — |  |  | $ | 26.9 |  |  | $ | — |
Forward foreign currency contracts | 8.4 |  |  | — |  |  | 8.4 |  |  | — |
Total | $ | 35.3 |  |  | $ | — |  |  | $ | 35.3 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Contingent consideration | $ | 2.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 2.0 |
Total | $ | 2.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 2.0 |
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 years ended September 28, 2024, September 30, 2023, and September 24, 2022 were as follows:
|  | Years Ended
|  | 2024 |  | 2023 |  | 2022
Balance at beginning of period | $ | 2.0 |  |  | $ | 23.4 |  |  | $ | 75.1 |
| Contingent consideration recorded at acquisition | — |  |  | 1.1 |  |  | — |
| Fair value adjustments | 1.7 |  |  | (14.9) |  |  | (39.5) |
| Payments | (2.6) |  |  | (7.6) |  |  | (12.2) |
Balance at end of period | $ | 1.1 |  |  | $ | 2.0 |  |  | $ | 23.4 |
Schedule of Cash and Cash Equivalents | The Company’s cash and cash equivalents and short and long-term investments as of September 28, 2024 were as follows:
| Valuation |  | Balance Sheet Classification
in millions | Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  | Cash and cash equivalents |  | Investments
Cash | $ | 1,437.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,437.1 |  |  | $ | 1,437.1 |  |  | $ | — |
Money market mutual funds | 341.7 |  |  | — |  |  | — |  |  | 341.7 |  |  | 341.7 |  |  | — |
U.S. Treasury debt securities | 624.7 |  |  | 1.6 |  |  | — |  |  | 626.3 |  |  | 356.5 |  |  | 269.8 |
Commercial paper | 24.9 |  |  | — |  |  | — |  |  | 24.9 |  |  | 24.9 |  |  | — |
Total | $ | 2,428.4 |  |  | $ | 1.6 |  |  | $ | — |  |  | $ | 2,430.0 |  |  | $ | 2,160.2 |  |  | $ | 269.8 |
Debt Securities, Available-for-Sale, Schedule of Maturity | The fair value of the available-for-sale securities by contractual maturity as of September 28, 2024 and September 30, 2023 are as follows:
| September 28, 2024 |  | September 30, 2023
in millions | Fair Value |  | Fair Value
Due in three months or less | $ | 723.1 |  |  | $ | — |
Due after three months through one year | 173.4 |  |  | — |
Due after one year through five years | 96.4 |  |  | — |
Total available-for-sale securities | $ | 992.9 |  |  | $ | — |

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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 + Details
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