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LEASES (Tables)
6 Months Ended
Apr. 01, 2023
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 LocationApril 1,
2023
April 2,
2022
September 30,
2022
Operating leases:
Right-of-use assetsOther assets$255.9 $293.2 $288.9 
Current lease liabilitiesOther current liabilities77.4 71.9 76.2 
Non-current lease liabilitiesOther liabilities203.2 230.3 223.2 
Total operating lease liabilities$280.6 $302.2 $299.4 
Finance leases:
Right-of-use assetsProperty, plant and equipment, net$15.7 $28.3 $26.4 
Current lease liabilitiesCurrent portion of debt1.9 6.0 6.4 
Non-current lease liabilitiesLong-term debt16.0 24.5 22.5 
Total finance lease liabilities$17.9 $30.5 $28.9 
Weighted-average remaining lease term and discount rate for the Company’s leases were as follows:
April 1,
2023
April 2,
2022
September 30,
2022
Weighted-average remaining lease term (in years):
Operating leases 4.85.24.9
Finance leases9.87.67.3
Weighted-average discount rate:
Operating leases4.0 %3.2 %3.5 %
Finance leases4.4 %4.3 %4.3 %
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 EndedSix Months Ended
April 1,
2023
April 2,
2022
April 1,
2023
April 2,
2022
Operating lease cost (a)
$23.9 $21.5 $46.1 $42.4 
Variable lease cost7.1 11.2 13.6 21.0 
Finance lease cost
Amortization of right-of-use assets0.6 1.6 2.0 3.2 
Interest on lease liabilities0.1 0.3 0.4 0.6 
Total finance lease cost$0.7 $1.9 $2.4 $3.8 
(a)Operating lease cost includes amortization of right-of-use assets of $23.8 and $42.8 for the three and six months ended April 1, 2023, respectively, and $19.3 and $36.9 for the three and six months ended April 2, 2022, 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:
Six Months Ended
April 1,
2023
April 2,
2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net$46.3 $41.4 
Operating cash flows from finance leases0.4 0.6 
Financing cash flows from finance leases1.8 2.9 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$32.5 $38.1 
Maturities of Operating Lease Liabilities by Fiscal Year Schedule
Maturities of lease liabilities by fiscal year for the Company’s leases as of April 1, 2023 were as follows:
YearOperating LeasesFinance Leases
2023 (remainder of the year)$44.9 $1.3 
202482.1 2.6 
202565.1 2.6 
202645.7 2.1 
202722.8 1.8 
Thereafter48.6 11.8 
Total lease payments309.2 22.2 
Less: Imputed interest(28.6)(4.3)
Total lease liabilities$280.6 $17.9 
Maturities of Finance Lease Liabilities by Fiscal Year Schedule
Maturities of lease liabilities by fiscal year for the Company’s leases as of April 1, 2023 were as follows:
YearOperating LeasesFinance Leases
2023 (remainder of the year)$44.9 $1.3 
202482.1 2.6 
202565.1 2.6 
202645.7 2.1 
202722.8 1.8 
Thereafter48.6 11.8 
Total lease payments309.2 22.2 
Less: Imputed interest(28.6)(4.3)
Total lease liabilities$280.6 $17.9