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Income Taxes (Tables) | 12 Months Ended
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Sep. 27, 2024
Income Tax Disclosure [Abstract] |
Schedule of Domestic and Foreign Components of Loss Before Income Taxes | The domestic and foreign components of Loss before income taxes are as follows:
| For the years ended
(Amounts in millions) | September 27, 2024 |  | September 29, 2023 |  | September 30, 2022
Domestic | $ | (328) |  |  | $ | (526) |  |  | $ | (213) |
Foreign | 205 |  |  | 186 |  |  | 149 |
Loss before income taxes | $ | (123) |  |  | $ | (340) |  |  | $ | (64) |
Schedule of Benefit (Provision) for Income Taxes | The Benefit (provision) for income taxes consists of the following:
| For the years ended
(Amounts in millions) | September 27, 2024 |  | September 29, 2023 |  | September 30, 2022
Current income tax (provision): |  |  |  |  |
Federal | $ | (44) |  |  | $ | (30) |  |  | $ | (3) |
State | (13) |  |  | (5) |  |  | (8) |
Foreign | (18) |  |  | (9) |  |  | (10) |
Total current income tax (provision) | (75) |  |  | (44) |  |  | (21) |
Deferred income tax benefit (provision): |  |  |  |  |
Federal | 110 |  |  | 49 |  |  | 9 |
State | 10 |  |  | 13 |  |  | (4) |
Foreign | (5) |  |  | 1 |  |  | 2 |
Total deferred income tax benefit | 115 |  |  | 63 |  |  | 7 |
Benefit (provision) for income taxes | $ | 40 |  |  | $ | 19 |  |  | $ | (14) |
Schedule of Effective Income Tax Rate Reconciliation | The major elements contributing to the difference between the U.S. federal statutory rate and the effective tax rate are as follows:
| For the years ended
| September 27, 2024 |  | September 29, 2023 |  | September 30, 2022
(Dollars in millions) | Amount |  | % |  | Amount |  | % |  | Amount |  | %
Statutory Rate | $ | 26 |  |  | 21.0 | % |  | $ | 72 |  |  | 21.0 | % |  | $ | 13 |  |  | 21.0 | %
State income tax, net of the federal benefit | (2) |  |  | (2.0) | % |  | 7 |  |  | 2.2 | % |  | (10) |  |  | (15.5) | %
Non-controlling interests | — |  |  | (0.2) | % |  | (2) |  |  | (0.5) | % |  | 1 |  |  | 2.0 | %
Goodwill impairment | — |  |  | — | % |  | (39) |  |  | (11.5) | % |  | (23) |  |  | (35.3) | %
Transaction costs | (1) |  |  | (0.8) | % |  | — |  |  | — | % |  | (1) |  |  | (2.1) | %
Equity-based compensation | (4) |  |  | (3.0) | % |  | — |  |  | — | % |  | — |  |  | — | %
Nontaxable or nondeductible items | 1 |  |  | 0.4 | % |  | — |  |  | (0.1) | % |  | 1 |  |  | 0.4 | %
Tax differential on foreign operations | (1) |  |  | (0.5) | % |  | (4) |  |  | (1.0) | % |  | — |  |  | (0.1) | %
Tax credits | 5 |  |  | 4.6 | % |  | 2 |  |  | 0.6 | % |  | 1 |  |  | 1.8 | %
Valuation allowance | 16 |  |  | 13.0 | % |  | (17) |  |  | (5.1) | % |  | 4 |  |  | 5.9 | %
Benefit (provision) for income taxes | $ | 40 |  |  | 32.5 | % |  | $ | 19 |  |  | 5.6 | % |  | $ | (14) |  |  | (21.9) | %
Schedule of Reconciliation of Deferred Tax Assets and Liabilities |
|  | As of |  |
(Amounts in millions) |  | September 27, 2024 |  | September 29, 2023 |  |
Deferred tax assets: |  |  |  |  |  |
Operating lease liabilities |  | $ | 60 |  |  | $ | 52 |  |  |
Reserves |  | 37 |  |  | 36 |  |  |
Accrued compensation and benefits |  | 92 |  |  | 45 |  |  |
Interest expense |  | 160 |  |  | 97 |  |  |
Foreign tax credit |  | 27 |  |  | 35 |  |  |
Research expenditures |  | 23 |  |  | 12 |  |  |
Net operating losses and capital losses |  | 76 |  |  | 33 |  |  |
Other |  | 11 |  |  | 10 |  |  |
Valuation allowance |  | (76) |  |  | (51) |  |  |
Total deferred tax assets |  | 410 |  |  | 269 |  |  |
Deferred tax liabilities: |  |  |  |  |  |
Acquired intangible assets |  | (573) |  |  | (220) |  |  |
Operating lease right-of-use assets |  | (58) |  |  | (51) |  |  |
Property and equipment, net |  | (13) |  |  | (14) |  |  |
Equity method and consolidated investments |  | (113) |  |  | (83) |  |  |
Other |  | (18) |  |  | (37) |  |  |
Total deferred tax liabilities |  | (775) |  |  | (405) |  |  |
Total deferred tax liabilities, net |  | (365) |  |  | (136) |  |  |
Schedule of Unrecognized Tax Benefits | The following table summarizes the activity related to unrecognized tax benefits:
(Amounts in millions) |  | Unrecognized Tax Benefits
Balance at September 30, 2022 |  | $ | 15 |
Reductions for tax positions related to prior years |  | (1) |
Balance at September 29, 2023 |  | 14 |
Additions for tax positions related to prior years |  | 9 |
Reductions for tax positions related to prior years |  | (7) |
Additions for tax positions related to current years |  | 2 |
Lapse of statute of limitations |  | (5) |
Settlements |  | (4) |
Balance at September 27, 2024 |  | $ | 9 |

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