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Stockholders' Equity (Tables) | 12 Months Ended
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Sep. 29, 2023
Stockholders' Equity Note [Abstract] |
Dividends Declared | On November 2, 2023, the Company announced that the Board of Directors had declared a cash dividend on the Company’s common stock of $0.68 per share. This dividend is payable on December 12, 2023, to the Company’s stockholders of record as of the close of business on November 21, 2023. Future dividends are subject to declaration by the Board of Directors. The dividends charged to retained earnings in fiscal 2023 and 2022 were as follows (in millions except per share data):
| Fiscal Years Ended
| September 29, 2023 |  | September 30, 2022
| Per Share |  | Total |  | Per Share |  | Total
First quarter | $ | 0.62 |  |  | $ | 99.4 |  |  | $ | 0.56 |  |  | $ | 92.5 |
Second quarter | 0.62 |  |  | 98.6 |  |  | 0.56 |  |  | 91.2 |
Third quarter | 0.62 |  |  | 98.7 |  |  | 0.56 |  |  | 90.0 |
Fourth quarter | 0.68 |  |  | 108.5 |  |  | 0.62 |  |  | 99.4 |
| $ | 2.54 |  |  | $ | 405.2 |  |  | $ | 2.30 |  |  | $ | 373.1 |
Schedule of Other Share-based Compensation, Activity |
| Shares (in millions) |  | Weighted average grant date fair value
Non-vested awards outstanding at September 30, 2022 | 2.4 |  |  | $ | 139.63 |
Granted (1) | 2.6 |  |  | $ | 92.86 |
Vested | (1.2) |  |  | $ | 123.60 |
Canceled/forfeited | (0.4) |  |  | $ | 112.15 |
Non-vested awards outstanding at September 29, 2023 | 3.4 |  |  | $ | 112.69 |
(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
| September 29, 2023 |  | September 30, 2022 |  | October 1, 2021
Cost of goods sold | $ | 20.7 |  |  | $ | 26.9 |  |  | $ | 28.9 |
Research and development | 94.8 |  |  | 93.8 |  |  | 85.7 |
Selling, general, and administrative | 69.6 |  |  | 74.5 |  |  | 77.3 |
Total share-based compensation expense | $ | 185.1 |  |  | $ | 195.2 |  |  | $ | 191.9 |
Share-based compensation tax expense (benefit) | $ | 9.1 |  |  | $ | (20.1) |  |  | $ | (13.5) |
Capitalized share-based compensation expense at period end | $ | 14.5 |  |  | $ | 6.8 |  |  | $ | 9.8 |
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 September 29, 2023:
| Unrecognized compensation cost for unvested awards (in millions) |  | Weighted average remaining recognition period (in years)
Awards | $ | 242.3 |  |  | 2.6
Schedule of Share-based Payment Awards, Performance Shares, Valuation Assumptions Used | The 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
| September 29, 2023 |  | September 30, 2022 |  | October 1, 2021
Volatility of common stock | 45.71 | % |  | 44.04 | % |  | 43.20 | %
Average volatility of peer companies | 40.74 | % |  | 46.28 | % |  | 45.96 | %
Average correlation coefficient of peer companies | 0.65 |  |  | 0.65 |  |  | 0.65 |
Risk-free interest rate | 4.51 | % |  | 0.79 | % |  | 0.25 | %
Dividend yield | 2.80 | % |  | 1.40 | % |  | 1.39 | %

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