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LEASES (Tables)
9 Months Ended
Jul. 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 LocationJuly 1,
2023
July 2,
2022
September 30,
2022
Operating leases:
Right-of-use assetsOther assets$266.2 $280.1 $288.9 
Current lease liabilitiesOther current liabilities77.7 71.8 76.2 
Non-current lease liabilitiesOther liabilities216.4 217.7 223.2 
Total operating lease liabilities$294.1 $289.5 $299.4 
Finance leases:
Right-of-use assetsProperty, plant and equipment, net$15.2 $26.9 $26.4 
Current lease liabilitiesCurrent portion of debt1.9 6.1 6.4 
Non-current lease liabilitiesLong-term debt15.5 23.2 22.5 
Total finance lease liabilities$17.4 $29.3 $28.9 
Weighted-average remaining lease term and discount rate for the Company’s leases were as follows:
July 1,
2023
July 2,
2022
September 30,
2022
Weighted-average remaining lease term (in years):
Operating leases 4.65.14.9
Finance leases9.67.57.3
Weighted-average discount rate:
Operating leases4.1 %3.3 %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 EndedNine Months Ended
July 1,
2023
July 2,
2022
July 1,
2023
July 2,
2022
Operating lease cost (a)
$22.0 $21.4 $68.1 $63.8 
Variable lease cost6.7 9.5 20.3 30.4 
Finance lease cost
Amortization of right-of-use assets0.5 1.6 2.5 4.8 
Interest on lease liabilities0.2 0.3 0.6 0.9 
Total finance lease cost$0.7 $1.9 $3.1 $5.7 
(a)Operating lease cost includes amortization of right-of-use assets of $20.1 and $62.9 for the three and nine months ended July 1, 2023, respectively, and $18.5 and $55.4 for the three and nine months ended July 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:
Nine Months Ended
July 1,
2023
July 2,
2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net$69.8 $62.3 
Operating cash flows from finance leases0.6 0.9 
Financing cash flows from finance leases2.2 4.4 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$67.6 $45.0 
Finance leases— 0.4 
Maturities of Operating Lease Liabilities by Fiscal Year Schedule
Maturities of lease liabilities by fiscal year for the Company’s leases as of July 1, 2023 were as follows:
YearOperating LeasesFinance Leases
2023 (remainder of the year)$22.9 $0.6 
202487.9 2.6 
202571.5 2.6 
202651.6 2.1 
202728.0 1.8 
Thereafter72.4 11.8 
Total lease payments334.3 21.5 
Less: Imputed interest(40.2)(4.1)
Total lease liabilities$294.1 $17.4 
Maturities of Finance Lease Liabilities by Fiscal Year Schedule
Maturities of lease liabilities by fiscal year for the Company’s leases as of July 1, 2023 were as follows:
YearOperating LeasesFinance Leases
2023 (remainder of the year)$22.9 $0.6 
202487.9 2.6 
202571.5 2.6 
202651.6 2.1 
202728.0 1.8 
Thereafter72.4 11.8 
Total lease payments334.3 21.5 
Less: Imputed interest(40.2)(4.1)
Total lease liabilities$294.1 $17.4