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LEASES (Tables)
9 Months Ended
Jul. 03, 2021
Leases [Abstract]  
Weighted-Average Remaining Lease Term and Discount Rate and Supplemental Balance Sheet Information Schedule
Supplemental balance sheet information related to the Company’s leases was as follows:
Balance Sheet LocationJuly 3,
2021
June 27,
2020
September 30,
2020
Operating leases:
Right-of-use assetsOther assets$212.7 $129.9 $156.0 
Current lease liabilitiesOther current liabilities62.3 46.5 47.5 
Non-current lease liabilitiesOther liabilities157.7 87.4 113.3 
Total operating lease liabilities$220.0 $133.9 $160.8 
Finance leases:
Right-of-use assetsProperty, plant and equipment, net$32.6 $33.6 $34.7 
Current lease liabilitiesCurrent portion of debt5.8 4.8 5.2 
Non-current lease liabilitiesLong-term debt28.7 29.9 30.9 
Total finance lease liabilities$34.5 $34.7 $36.1 
Weighted-average remaining lease term and discount rate for the Company’s leases were as follows:
July 3,
2021
Weighted-average remaining lease term (in years):
Operating leases 4.6
Finance leases7.9
Weighted-average discount rate:
Operating leases3.3 %
Finance leases4.2 %
Lease Cost Components and Supplemental Cash Flow Information and Non-Cash Activity For Company's Leases Schedules
Components of lease cost were as follows:
Three Months EndedNine Months Ended
July 3,
2021
June 27,
2020
July 3,
2021
June 27,
2020
Operating lease cost (a)
$18.8 $13.6 $50.3 $40.2 
Variable lease cost8.8 2.9 24.0 8.7 
Finance lease cost
Amortization of right-of-use assets1.5 1.4 4.5 3.7 
Interest on lease liabilities0.3 0.3 1.0 1.0 
Total finance lease cost$1.8 $1.7 $5.5 $4.7 
(a)Operating lease cost includes amortization of ROU assets of $16.7 and $44.6 for the three and nine months ended July 3, 2021, respectively, and $11.3 and $34.2 for the three and nine months ended June 27, 2020, respectively. Short-term lease expense is excluded from operating lease cost and is not material.
Supplemental cash flow information and non-cash activity related to the Company’s leases were as follows:
Nine Months Ended
July 3,
2021
June 27,
2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net$47.6 $40.9 
Operating cash flows from finance leases1.0 1.0 
Financing cash flows from finance leases3.9 2.6 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$100.1 $34.6 
Finance leases2.3 11.9 
Maturities of Operating Lease Liabilities by Fiscal Year Schedule
Maturities of lease liabilities by fiscal year for the Company’s leases as of July 3, 2021 were as follows:
YearOperating LeasesFinance Leases
2021 (remainder of the year)$18.8 $1.7 
202264.0 7.0 
202348.1 7.0 
202440.2 7.1 
202533.3 2.8 
Thereafter33.3 15.4 
Total lease payments237.7 41.0 
Less: Imputed interest(17.7)(6.5)
Total lease liabilities$220.0 $34.5 
Maturities of Finance Lease Liabilities by Fiscal Year Schedule
Maturities of lease liabilities by fiscal year for the Company’s leases as of July 3, 2021 were as follows:
YearOperating LeasesFinance Leases
2021 (remainder of the year)$18.8 $1.7 
202264.0 7.0 
202348.1 7.0 
202440.2 7.1 
202533.3 2.8 
Thereafter33.3 15.4 
Total lease payments237.7 41.0 
Less: Imputed interest(17.7)(6.5)
Total lease liabilities$220.0 $34.5