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Borrowings | 3 Months Ended
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Jan. 01, 2021
Debt Disclosure [Abstract] |
Borrowings | BORROWINGS: Long-term borrowings, net, are summarized in the following table (in thousands):
|  | January 1, 2021 |  | October 2, 2020
Senior secured revolving credit facility, due October 2023 |  | $ | 79,025 |  |  | $ | 849,895 |
Senior secured term loan facility, due October 2023 |  | 477,848 |  |  | 485,346 |
Senior secured term loan facility, due March 2024 |  | 830,331 |  |  | 830,133 |
Senior secured term loan facility, due March 2025 |  | 1,659,487 |  |  | 1,659,194 |
Senior secured term loan facility, due January 2027 |  | 886,546 |  |  | 888,540 |
5.000% senior notes, due April 2025 |  | 593,709 |  |  | 593,381 |
3.125% senior notes, due April 2025(1) |  | 394,193 |  |  | 377,960 |
6.375% senior notes, due May 2025 |  | 1,480,313 |  |  | 1,479,341 |
4.750% senior notes, due June 2026 |  | 495,601 |  |  | 495,426 |
5.000% senior notes, due February 2028 |  | 1,139,178 |  |  | 1,138,864 |
Receivables Facility, due June 2022 |  | — |  |  | 315,600 |
Finance leases |  | 140,203 |  |  | 142,588 |
Other |  | 33,034 |  |  | 22,155 |
|  | 8,209,468 |  |  | 9,278,423 |
Less—current portion |  | (98,328) |  |  | (99,915) |
|  | $ | 8,111,140 |  |  | $ | 9,178,508 |
(1) | This is a Euro denominated borrowing.
As of January 1, 2021, there were approximately $966.3 million of outstanding foreign currency borrowings. Beginning in the second quarter of fiscal 2020, the Company increased its borrowings under the revolving credit facility and the Receivables Facility and also issued new senior unsecured notes in order to provide additional cash availability and maximize flexibility in response to uncertainty surrounding COVID-19. As of January 1, 2021, the Company had $79.0 million of borrowings under the revolving credit facility, no borrowings under the Receivables Facility, $1,166.2 million of cash and cash equivalents, approximately $850.4 million of availability under the senior secured revolving credit facility and approximately $351.2 million of availability under the Receivables Facility. During the three month period of fiscal 2021, the Company repaid $780.0 million of outstanding borrowings under the U.S. revolving credit facility and $315.6 million of outstanding borrowings under the Receivables Facility utilizing cash and cash equivalents on hand. Additionally, during the three month period of fiscal 2021, the Company made $16.5 million of optional prepayments on the senior secured term loan facility due October 2023. In accordance with Amendment No. 9 ("Amendment No. 9") to the credit agreement, dated as of March 28, 2017, (as supplemented or otherwise modified from time to time, the “Credit Agreement”) entered into during the third quarter of fiscal 2020, a covenant waiver period is in effect during the three months ended January 1, 2021, as the amendment suspends the Consolidated Secured Debt Ratio covenant required under the Credit Agreement for four fiscal quarters, commencing with the fourth quarter of fiscal 2020 through the third quarter of fiscal 2021. See Part IV, Item 15, "Note 5" in the Company's Annual Report on Form 10-K, filed with the SEC on November 24, 2020 for additional discussion of the terms of Amendment No. 9.

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- Definition The entire disclosure for debt and capital lease obligations can be reported. Information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Also includes descriptions and amounts of capital leasing arrangements that consist of direct financing, sales type and leveraged leases. Disclosure may include the effect on the balance sheet and the income statement resulting from a change in lease classification for leases that at inception would have been classified differently had guidance been in effect at the inception of the original lease. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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