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FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Apr. 01, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring Basis

The following table summarizes the fair value of the Company’s assets and liabilities for which disclosure of fair value is required:

 

						Fair Value Hierarchy Level						April 1, 2023												April 2, 2022												September 30, 2022
												Carrying Amount						Estimated Fair Value						Carrying Amount						Estimated Fair Value						Carrying Amount						Estimated Fair Value
Assets
Cash equivalents						Level 1						$	2.9					$	2.9					$	3.8					$	3.8					$	64.3					$	64.3
Other
Investment securities in non-qualified retirement plan assets						Level 1						39.0						39.0						47.4						47.4						38.4						38.4
Convertible debt investments						Level 3						84.8						84.8						192.4						192.4						117.0						117.0
Liabilities
Debt instruments
Credit facilities – revolving loans						Level 2						642.5						642.5						1,135.0						1,135.0						300.5						300.5
Credit facilities – term loans						Level 2						950.0						950.0						650.0						650.0						975.0						975.0
Senior Notes due 2031 – 4.000%						Level 2						500.0						398.8						500.0						437.5						500.0						350.6
Senior Notes due 2032 – 4.375%						Level 2						400.0						320.5						400.0						352.0						400.0						284.0
Senior Notes due 2029 – 4.500%						Level 2						450.0						388.1						450.0						420.8						450.0						325.7
Senior Notes due 2026 – 5.250%						Level 2						250.0						238.8						250.0						252.5						250.0						230.0
Receivables facility						Level 2						380.0						380.0						400.0						400.0						75.0						75.0
Other debt						Level 2						3.1						3.1						13.6						13.6						12.7						12.7

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

Changes in the balance of Level 3 convertible debt investments carried at fair value are presented below. There were no transfers into or out of Level 3.

			Three Months Ended												Six Months Ended
			April 1, 2023						April 2, 2022						April 1, 2023						April 2, 2022
Fair value at beginning of period			$	91.2					$	191.3					$	117.0					$	190.3
Total realized / unrealized gains included in net earnings			0.9						1.0						1.9						1.7
Total realized / unrealized gains (losses) included in OCI			(7.3)						0.1						(34.1)						0.4
Fair value at end of period			$	84.8					$	192.4					$	84.8					$	192.4

X

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period 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 asset.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-3

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- References

No definition available.

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X

- 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
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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