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Share-Based Compensation (Tables)

12 Months Ended

Sep. 29, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan

The following table summarizes the share-based compensation expense and related information for Time-Based Options ("TBOs"), Retention Time-Based Options ("TBO-Rs"), Time-Based Restricted Stock Units ("RSUs"), PSUs, Deferred Stock Units and Employee Stock Purchase Plan ("ESPP") recorded within "Selling and general corporate expenses" on the Consolidated Statements of Income (Loss) (in millions).

						Fiscal Year Ended
						September 29, 2023						September 30, 2022						October 1, 2021
TBOs						$	15.4					$	16.2					$	15.1
TBO-Rs						5.2						4.8						4.6
RSUs						51.5						57.8						46.0
PSUs						10.7						5.6						—
Deferred Stock Units						1.7						2.0						1.9
ESPP(1)						2.4						9.1						3.5
						$	86.9					$	95.5					$	71.1
Taxes related to share-based compensation						$	15.6					$	16.9					$	22.6
Cash Received from Option Exercises/ESPP Purchases						47.0						49.3						41.6
Tax Benefit on Share Deliveries (2)						1.9						1.0						3.8

(1)			Share-based compensation expense related to the ESPP decreased during fiscal 2023 compared to fiscal 2022 as the Company suspended its ESPP beginning in the second quarter of fiscal 2023. Share-based compensation expense related to the ESPP increased during fiscal 2022 compared to fiscal 2021 as the program was available for the entirety of fiscal 2022 as compared to only a portion of fiscal 2021, and the program expanded to additional countries in fiscal 2022.
(2)			The tax benefit on option exercises, restricted stock unit and ESPP unit deliveries is included in "Accrued Expenses" on the Consolidated Statements of Cash Flows.

Schedule of Unrecognized Compensation Cost, Nonvested Awards

The below table summarizes the unrecognized compensation expense as of September 29, 2023 related to non-vested awards and the weighted-average period they are expected to be recognized:

						Unrecognized Compensation Expense (in millions)						Weighted-Average Period (Years)
TBOs						$	16.6					2.53
TBO-Rs						6.2						1.59
RSUs						59.7						2.39
PSU						23.3						2.51
Total						$	105.8

Schedule of Stock Option Valuation Assumptions

The table below presents the weighted average assumptions and related valuations for TBOs.

						Fiscal Year Ended
						September 29, 2023						September 30, 2022						October 1, 2021
Expected volatility						42%						41%						40%
Expected dividend yield						1.00% - 1.19%						1.18% - 1.30%						1.08% - 1.25%
Expected life (in years)						6.25						6.00						6.08
Risk-free interest rate						3.65% - 4.28%						1.26% - 2.96%						0.52% - 1.15%
Weighted-average grant-date fair value						$17.01						$13.27						$13.08

						Fiscal Year Ended
						September 29, 2023						September 30, 2022						October 1, 2021
Total intrinsic value exercised (in millions)						$	12.0					$	6.4					$	14.5
Total fair value that vested (in millions)						15.7						13.8						16.0

						Fiscal Year Ended
						September 29, 2023						September 30, 2022						October 1, 2021
Total intrinsic value exercised (in millions)						$	—					$	—					$	—
Total fair value that vested (in millions)						6.9						0.3						—

						Fiscal Year Ended
						September 29, 2023						September 30, 2022						October 1, 2021
Total fair value that vested (in millions)						$	57.1					$	41.6					$	58.7

Schedule of Options Activity

A summary of TBO activity is presented below:

Options						Shares (000s)						Weighted-Average Exercise Price						Aggregate Intrinsic Value ($000s)						Weighted-Average Remaining Term (Years)
Outstanding at September 30, 2022						7,343						$	34.19
Granted						928						$	40.28
Exercised						(1,369)						$	31.94
Forfeited and expired						(302)						$	37.52
Outstanding at September 29, 2023						6,600						$	35.36					$	14,641					6.3
Exercisable at September 29, 2023						4,733						$	33.92					$	14,353					5.5
Expected to vest at September 29, 2023						1,707						$	39.00					$	272					8.3

A summary of TBO-R activity is presented below:

Options						Shares (000s)						Weighted-Average Exercise Price						Aggregate Intrinsic Value ($000s)						Weighted-Average Remaining Term (Years)
Outstanding at September 30, 2022						5,562						$	66.15
Exercised						(8)						$	35.00
Forfeited and expired						(332)						$	66.84
Outstanding at September 29, 2023						5,222						$	66.15					$	—					6.9
Exercisable at September 29, 2023						1,741						$	66.15					$	—					6.9
Expected to vest at September 29, 2023						3,209						$	66.15					$	—					6.9

Schedule of Restricted Stock Units Activity

The unvested units are subject to forfeiture if employment is terminated other than due to death, disability or retirement and the units are nontransferable while subject to forfeiture.

Restricted Stock Units						Units (000s)						Weighted Average Grant-Date Fair Value
Outstanding at September 30, 2022						3,464						$	35.59
Granted						1,337						$	40.26
Vested						(1,672)						$	34.18
Forfeited						(421)						$	36.70
Outstanding at September 29, 2023						2,708						$	38.54

Performance Stock Units						Units (000s)						Weighted Average Grant-Date Fair Value
Outstanding at September 30, 2022						1,000						$	41.13
Granted						477						$	48.88
Forfeited						(579)						$	42.93
Outstanding at September 29, 2023						898						$	44.32

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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