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FAIR VALUE MEASUREMENTS | 9 Months Ended
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Jul. 02, 2022
Fair Value Disclosures [Abstract] |
FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS The following table summarizes the fair value of the Company’s assets and liabilities for which disclosure of fair value is required:
|  |  |  | July 2, 2022 |  | July 3, 2021 |  | September 30, 2021
|  | Fair Value Hierarchy Level |  | Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | Level 1 |  | $ | 13.4 |  |  | $ | 13.4 |  |  | $ | 3.2 |  |  | $ | 3.2 |  |  | $ | 222.5 |  |  | $ | 222.5 |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities in non-qualified retirement plan assets |  | Level 1 |  | 40.3 |  |  | 40.3 |  |  | 46.5 |  |  | 46.5 |  |  | 45.0 |  |  | 45.0 |
Convertible debt investments |  | Level 3 |  | 139.1 |  |  | 139.1 |  |  | — |  |  | — |  |  | 190.3 |  | 190.3
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit facilities – revolving loans |  | Level 2 |  | 617.4 |  |  | 617.4 |  |  | 278.8 |  |  | 278.8 |  |  | — |  |  | — |
Credit facilities – term loans |  | Level 2 |  | 987.5 |  |  | 987.5 |  |  | 680.0 |  |  | 680.0 |  |  | 670.0 |  |  | 670.0 |
Senior Notes due 2031 – 4.000% |  | Level 2 |  | 500.0 |  |  | 373.1 |  |  | 500.0 |  |  | 498.8 |  |  | 500.0 |  |  | 498.8 |
Senior Notes due 2032 – 4.375% |  | Level 2 |  | 400.0 |  |  | 302.0 |  |  | — |  |  | — |  |  | 400.0 |  |  | 402.0 |
Senior Notes due 2029 – 4.500% |  | Level 2 |  | 450.0 |  |  | 365.1 |  |  | 450.0 |  |  | 468.0 |  |  | 450.0 |  |  | 466.9 |
Senior Notes due 2026 – 5.250% |  | Level 2 |  | 250.0 |  |  | 232.5 |  |  | 250.0 |  |  | 260.6 |  |  | 250.0 |  |  | 258.1 |
Receivables facility |  | Level 2 |  | 250.0 |  |  | 250.0 |  |  | — |  |  | — |  |  | — |  |  | — |
Other debt |  | Level 2 |  | 15.9 |  |  | 15.9 |  |  | 7.9 |  |  | 7.9 |  |  | 11.9 |  |  | 11.9 |
The cost basis of convertible debt investments was $218.1 and $193.1 at July 2, 2022 and September 30, 2021, respectively. Purchases of convertible debt investments were $25.0 during the three and nine months ended July 2, 2022. During the three and nine months ended July 2, 2022, the Company recorded unrealized losses of $79.2 and $78.9 in AOCL, respectively, and investment income of $0.9 and $2.7, respectively, associated with its Level 3 convertible debt investments. The amortized cost basis of convertible debt investments was $221.1 and $193.4 at July 2, 2022 and September 30, 2021, respectively. The decline in fair value of the convertible debt investments is related to a decline in the value of the underlying conversion options and is not reflective of a credit risk associated with the notes.

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- References No definition available. + Details
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- Definition The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -URI https://asc.fasb.org/topic&trid=2155941 + Details
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