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Stockholders' Equity (Tables) | 12 Months Ended
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Oct. 01, 2021
Stockholders' Equity Note [Abstract] |
Dividends Declared | The dividends charged to retained earnings in fiscal 2021 and 2020 were as follows (in millions except per share data):
| Fiscal Years Ended
| October 1, 2021 |  | October 2, 2020
| Per Share |  | Total |  | Per Share |  | Total
First quarter | $ | 0.50 |  |  | $ | 83.0 |  |  | $ | 0.44 |  |  | $ | 75.1 |
Second quarter | 0.50 |  |  | 82.6 |  |  | 0.44 |  |  | 74.9 |
Third quarter | 0.50 |  |  | 82.5 |  |  | 0.44 |  |  | 73.5 |
Fourth quarter | 0.56 |  |  | 92.5 |  |  | 0.50 |  |  | 83.5 |
| $ | 2.06 |  |  | $ | 340.6 |  |  | $ | 1.82 |  |  | $ | 307.0 |
Schedule of Share-based Compensation, Stock Options, Activity | The following table represents a summary of the Company’s stock options:
| Shares (in millions) |  | Weighted average exercise price |  | Weighted average remaining contractual life (in years) |  | Aggregate intrinsic value (in millions)
Balance outstanding at October 2, 2020 | 0.4 |  |  | $ | 70.28 |  |  |  |  |
Granted | — |  |  | $ | 143.87 |  |  |  |  |
Exercised | (0.2) |  |  | $ | 66.35 |  |  |  |  |
Canceled/forfeited | — |  |  | $ | 31.88 |  |  |  |  |
Balance outstanding at October 1, 2021 | 0.2 |  |  | $ | 74.68 |  |  | 1.8 |  | $ | 16.7 |
Exercisable at October 1, 2021 | 0.2 |  |  | $ | 74.12 |  |  | 1.7 |  | $ | 16.2 |
Schedule of Other Share-based Compensation, Activity | The following table represents a summary of the Company’s restricted and performance awards and units:
| Shares (in millions) |  | Weighted average grant date fair value
Non-vested awards outstanding at October 2, 2020 | 2.9 |  |  | $ | 94.77 |
Granted (1) | 1.5 |  |  | $ | 148.96 |
Vested | (1.1) |  |  | $ | 102.94 |
Canceled/forfeited | (0.6) |  |  | $ | 105.34 |
Non-vested awards outstanding at October 1, 2021 | 2.7 |  |  | $ | 118.90 |
(1) includes performance stock awards granted and earned assuming target performance under the underlying performance metrics
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | The following table summarizes pre-tax share-based compensation expense by financial statement line and related tax benefit (in millions):
| Fiscal Years Ended
| October 1, 2021 |  | October 2, 2020 |  | September 27, 2019
Cost of goods sold | $ | 28.9 |  |  | $ | 23.2 |  |  | $ | 13.0 |
Research and development | 85.7 |  |  | 68.7 |  |  | 41.6 |
Selling, general and administrative | 77.3 |  |  | 64.7 |  |  | 25.5 |
Total share-based compensation expense | $ | 191.9 |  |  | $ | 156.6 |  |  | $ | 80.1 |
Share-based compensation tax benefit | $ | 13.5 |  |  | $ | 10.3 |  |  | $ | 1.6 |
Capitalized share-based compensation expense at period end | $ | 9.8 |  |  | $ | 10.6 |  |  | $ | 4.7 |
Schedule of Unrecognized Compensation Cost, Nonvested Awards | The following table summarizes total compensation costs related to unvested share-based awards not yet recognized and the weighted average period over which it is expected to be recognized at October 1, 2021:
| Unrecognized compensation cost for unvested awards (in millions) |  | Weighted average remaining recognition period (in years)
Awards | $ | 202.0 |  |  | 2.9
Options | $ | 0.1 |  |  | 1.3
Schedule of Share-based Payment Awards, Performance Shares, Valuation Assumptions Used | he fair value of these performance stock unit awards was estimated on the date of the grant using a Monte Carlo simulation with the following weighted average assumptions:
| Fiscal Year Ended
| October 1, 2021 |  | October 2, 2020 |  | September 27, 2019
Volatility of common stock | 43.20 | % |  | 32.22 | % |  | 32.65 | %
Average volatility of peer companies | 45.96 | % |  | 33.96 | % |  | 37.07 | %
Average correlation coefficient of peer companies | 0.65 |  |  | 0.61 |  |  | 0.47
Risk-free interest rate | 0.25 | % |  | 1.62 | % |  | 2.98 | %
Dividend yield | 1.39 | % |  | 1.78 | % |  | 1.84 | %
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The fair value of each stock option is estimated on the date of the grant using the Black-Scholes option pricing model with the following weighted average assumptions:
| Fiscal Years Ended
| October 1, 2021 |  | October 2, 2020 |  | September 27, 2019
Expected volatility | 39.65 | % |  | 34.26 | % |  | 34.47 | %
Risk-free interest rate | 0.13 | % |  | 1.65 | % |  | 2.76 | %
Dividend yield | 1.39 | % |  | 1.78 | % |  | 1.84 | %
Expected option life (in years) | 4.0 |  | 4.0 |  | 4.0

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