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Fair Value | 12 Months Ended
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Sep. 30, 2016
Fair Value Disclosures [Abstract] |
FAIR VALUE | FAIR VALUE Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis The Company measures certain assets and liabilities at fair value on a recurring basis such as its financial instruments and derivatives. There have been no transfers between Level 1, 2 or 3 assets or liabilities during the fiscal year ended September 30, 2016. Level 3 assets include an auction rate security that is classified as available for sale and recorded in other current assets and that is scheduled to mature in 2017. Due to the illiquid market for this security the Company has classified the carrying value as a Level 3 asset with the difference between the par and carrying value being categorized as a temporary loss and recorded in accumulated other comprehensive loss. On August 1, 2016, the Company exercised its option and paid cash for the remaining interest in the joint venture with Panasonic as detailed in Note 3 of these Notes to Consolidated Financial Statements. This purchase option was recorded as a Level 3 liability as of October 2, 2015. The Company held foreign currency call and put options (“foreign currency options”) that were intended to hedge the potential cash exposure related to the Panasonic purchase option. These foreign currency options expired unexercised during the fiscal year ended September 30, 2016, as the call and put options were out of the money, The Company classifies its contingent consideration related to its business combinations as detailed in Note 3 of these Notes to Consolidated Financial Statements, made during the fiscal year ended September 30, 3016, as Level 3 liabilities. This assessment is based on management judgment involved in computing the expected achievements of specified objectives that are payable up to two years from the anniversary of the acquisitions. The Company reassesses the fair value of the contingent consideration on a quarterly basis and records any applicable adjustments to earnings in the period they are determined. Assets and liabilities recorded at fair value on a recurring basis consisted of the following (in millions):
| As of September 30, 2016 |  | As of October 2, 2015
|  |  | Fair Value Measurements |  |  |  | Fair Value Measurements
| Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds | $ | 408.7 |  |  | $ | 408.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 464.6 |  |  | $ | 464.6 |  |  | $ | — |  |  | $ | — |
Auction rate security | 2.3 |  |  | — |  |  | — |  |  | 2.3 |  |  | 2.3 |  |  | — |  |  | — |  |  | 2.3 |
Foreign currency derivative assets | — |  |  | — |  |  | — |  |  | — |  |  | 3.3 |  |  | — |  |  | — |  |  | 3.3 |
Total | $ | 411.0 |  |  | $ | 408.7 |  |  | $ | — |  |  | $ | 2.3 |  |  | $ | 470.2 |  |  | $ | 464.6 |  |  | $ | — |  |  | $ | 5.6 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchase obligation recorded for business combinations | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 75.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 75.4 |
Foreign currency derivative liabilities | — |  |  | — |  |  | — |  |  | — |  |  | 2.8 |  |  | — |  |  | — |  |  | 2.8 |
Contingent consideration liability recorded for business combinations | 7.9 |  |  | — |  |  | — |  |  | 7.9 |  |  | 0.5 |  |  | — |  |  | — |  |  | 0.5 |
Total | $ | 7.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 7.9 |  |  | $ | 78.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 78.7 |
The following table summarizes changes to the fair value of the Level 3 assets (in millions):
| Auction rate security |  | Foreign currency derivative
Balance as of October 2, 2015 | $ | 2.3 |  |  | $ | 3.3 |
Changes in fair value included in earnings | — |  |  | (3.3 | )
Balance as of September 30, 2016 | $ | 2.3 |  |  | $ | — |
The following table summarizes changes to the fair value of the Level 3 liabilities (in millions):
| Purchase obligation |  | Foreign currency derivative |  | Contingent consideration
Balance as of October 2, 2015 | $ | 75.4 |  |  | $ | 2.8 |  |  | $ | 0.5 |
Increases to Level 3 liabilities | — |  |  | — |  |  | 7.4 |
Changes in fair value included in earnings | — |  |  | (2.8 | ) |  | — |
Decreases of Level 3 liabilities | (75.4 | ) |  | — |  |  | — |
Balance as of September 30, 2016 | $ | — |  |  | $ | — |  |  | $ | 7.9 |
Assets Measured and Recorded at Fair Value on a Nonrecurring Basis The Company’s non-financial assets and liabilities, such as goodwill, intangible assets, and other long-lived assets resulting from business combinations are measured at fair value using income approach valuation methodologies at the date of acquisition and are subsequently re-measured if there are indicators of impairment.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13537-108611 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13504-108611 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13433-108611 + Details
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