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Fair Value (Tables)

9 Months Ended

Jul. 02, 2021

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis consist of the following (in thousands):

			July 2, 2021
			Fair Value						Active Markets for Identical Assets (Level 1)						Observable Inputs (Level 2)						Unobservable Inputs (Level 3)
Assets
Money market funds			$	20,630					$	20,630					$	—					$	—
Commercial paper			104,404						—						104,404						—
Corporate bonds			60,362						—						60,362						—
Total assets measured at fair value			$	185,396					$	20,630					$	164,766					$	—

			October 2, 2020
			Fair Value						Active Markets for Identical Assets (Level 1)						Observable Inputs (Level 2)						Unobservable Inputs (Level 3)
Assets
Money market funds			$	20,139					$	20,139					$	—					$	—
Commercial paper			135,091						—						135,091						—
Corporate bonds			68,620						—						68,620						—
Total assets measured at fair value			$	223,850					$	20,139					$	203,711					$	—
Liabilities
Common stock warrant liability			$	25,312					$	—					$	—					$	25,312
Total liabilities measured at fair value			$	25,312					$	—					$	—					$	25,312

Quantitative information Used in Fair Value Calculation of Level 3 Liabilities

The quantitative information utilized in the fair value calculation of our Level 3 liabilities is as follows:

Inputs

Liabilities

Valuation Technique

Unobservable Input

October 2, 2020

Warrant liability

Black-Scholes model

Volatility

61.8%

Discount rate

0.09%

Expected life

0.2 years

Exercise price

$14.05

Stock price

$33.80

Dividend rate

—%

Changes in Liabilities with Inputs Classified within Level 3 of Fair Value

The changes in liabilities with inputs classified within Level 3 of the fair value hierarchy consist of the following (in thousands):

			October 2, 2020						Net Realized Losses Included in Earnings						Purchases and Issuances						Sales and Settlements												July 2, 2021
Common stock warrant liability			$	25,312					$	11,130					$	—					$	(36,442)											$	—

			September 27, 2019						Net Realized Losses (Gains) Included in Earnings						Purchases and Issuances						Sales and Settlements												July 3, 2020
Common stock warrant liability			$	12,364					$	14,951					$	—					$	—											$	27,315

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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