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Stockholders' Equity and Stock-Based Compensation (Tables)

12 Months Ended

Sep. 27, 2025

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation Expense in Consolidated Statement of Operations

The following presents stock-based compensation expense in the Company’s Consolidated Statements of Income in fiscal 2025, 2024 and 2023:

						2025						2024						2023
Cost of revenues						$	11.9					$	10.7					$	10.5
Research and development						8.2						10.3						10.5
Selling and marketing						14.2						13.4						12.0
General and administrative						50.0						47.9						46.6
						$	84.3					$	82.3					$	79.6

Information Pertaining to Stock Options Granted and Related Assumptions

Information pertaining to stock options granted during fiscal 2025, 2024 and 2023 and related assumptions is as follows:

						Years Ended
						September 27, 2025						September 28, 2024						September 30, 2023
Options granted (in millions)						0.6						0.6						0.5
Weighted-average exercise price						$	77.42					$	72.34					$	74.66
Weighted-average grant date fair value						$	26.08					$	25.07					$	25.95
Assumptions:
Risk-free interest rates						4.2		%				4.4		%				4.3		%
Expected life (in years)						4.8						4.8						4.8
Expected volatility						32.5		%				33.4		%				33.9		%
Dividend yield						—						—						—

Stock Option Activity

The following table summarizes all stock option activity under the Company’s stock option plans for the year ended September 27, 2025:

						Number of Shares (in millions)						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Life (in Years)						Aggregate Intrinsic Value (in millions)
Options outstanding at September 28, 2024						4.3						$	55.32
Granted						0.6						77.42
Canceled/ forfeited						(0.2)						73.06
Exercised						(0.4)						46.20												9.5
Options outstanding at September 27, 2025						4.3						$	58.34					4.9						$	51.1
Options exercisable at September 27, 2025						3.0						$	51.77					3.6						$	50.9
Options vested and expected to vest at September 27, 2025 (1)						4.2						$	58.29					4.9						$	51.1

(1)This represents the number of vested stock options as of September 27, 2025 plus the unvested outstanding options at September 27, 2025 expected to vest in the future, adjusted for estimated forfeitures.

Restricted Stock Unit Activity

A summary of the Company’s RSU, PSU, FCF and MSU activity during the year ended September 27, 2025 is presented below:

Non-vested Shares						Number of Shares (in millions)						Weighted-Average Grant-Date Fair Value
Non-vested at September 28, 2024						1.7						$	73.84
Granted						0.9						78.91
Vested						(0.8)						72.47
Forfeited						(0.1)						75.03
Non-vested at September 27, 2025						1.7						$	76.77

Black-Scholes Model Weighted Average Assumptions Used to Estimate Fair Value of Shares to Be Issued as of Grant Date

The Company uses the Black-Scholes model to estimate the fair value of shares to be issued as of the grant date using the following weighted average assumptions:

						September 27, 2025						September 28, 2024						September 30, 2023
Assumptions:
Risk-free interest rates						4.58		%				5.29		%				4.10		%
Expected life (in years)						0.5						0.5						0.5
Expected volatility						32.8		%				33.4		%				34.0		%
Dividend yield						—						—						—

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