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LEASES (Tables) | 6 Months Ended
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Mar. 30, 2024
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 Location |  | March 30, 2024 |  | April 1, 2023 |  | September 30, 2023
Operating leases: |  |  |  |  |  |  |
Right-of-use assets | Other assets |  | $ | 273.1 |  |  | $ | 255.9 |  |  | $ | 262.6 |
Current lease liabilities | Other current liabilities |  | 75.9 |  |  | 77.4 |  |  | 76.4 |
Non-current lease liabilities | Other liabilities |  | 223.7 |  |  | 203.2 |  |  | 220.1 |
Total operating lease liabilities |  | $ | 299.6 |  |  | $ | 280.6 |  |  | $ | 296.5 |
Finance leases: |  |  |  |  |  |  |
Right-of-use assets | Property, plant and equipment, net |  | $ | 15.0 |  |  | $ | 15.7 |  |  | $ | 14.5 |
Current lease liabilities | Current portion of debt |  | 2.3 |  |  | 1.9 |  |  | 1.9 |
Non-current lease liabilities | Long-term debt |  | 15.2 |  |  | 16.0 |  |  | 15.0 |
Total finance lease liabilities |  | $ | 17.5 |  |  | $ | 17.9 |  |  | $ | 16.9 |
Weighted-average remaining lease term and discount rate for the Company’s leases were as follows:
| March 30, 2024 |  | April 1, 2023 |  | September 30, 2023
Weighted-average remaining lease term (in years): |  |  |  |  |
Operating leases | 5.4 |  | 4.8 |  | 5.4
Finance leases | 8.7 |  | 9.8 |  | 9.5
Weighted-average discount rate: |  |  |  |  |
Operating leases | 5.6 | % |  | 4.0 | % |  | 5.2 | %
Finance leases | 4.6 | % |  | 4.4 | % |  | 4.4 | %
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 Ended |  | Six Months Ended
| March 30, 2024 |  | April 1, 2023 |  | March 30, 2024 |  | April 1, 2023
Operating lease cost (a) | $ | 20.3 |  |  | $ | 23.9 |  |  | $ | 42.3 |  |  | $ | 46.1 |
Variable lease cost | 9.2 |  |  | 7.1 |  |  | 15.8 |  |  | 13.6 |
Finance lease cost |  |  |  |  |  |  |
Amortization of right-of-use assets | 0.6 |  |  | 0.6 |  |  | 1.2 |  |  | 2.0 |
Interest on lease liabilities | 0.2 |  |  | 0.1 |  |  | 0.4 |  |  | 0.4 |
Total finance lease cost | $ | 0.8 |  |  | $ | 0.7 |  |  | $ | 1.6 |  |  | $ | 2.4 |
(a)Operating lease cost includes amortization of right-of-use assets of $16.5 and $34.7 for the three and six months ended March 30, 2024, respectively, and $23.8 and $42.8 for the three and six months ended April 1, 2023, 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
|  |  |  |  | March 30, 2024 |  | April 1, 2023
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows from operating leases, net |  |  |  |  | $ | 49.3 |  |  | $ | 46.3 |
Operating cash flows from finance leases |  |  |  |  | 0.4 |  |  | 0.4 |
Financing cash flows from finance leases |  |  |  |  | 1.0 |  |  | 1.8 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |  |  |
Operating leases |  |  |  |  | $ | 41.6 |  |  | $ | 32.5 |
Finance leases |  |  |  |  | 1.7 |  |  | — |
Maturities of Operating Lease Liabilities by Fiscal Year Schedule | Maturities of lease liabilities by fiscal year for the Company’s leases as of March 30, 2024 were as follows:
Year |  | Operating Leases |  | Finance Leases
2024 (remainder of the year) |  | $ | 47.8 |  |  | $ | 1.5 |
2025 |  | 82.8 |  |  | 3.0 |
2026 |  | 64.8 |  |  | 2.6 |
2027 |  | 40.8 |  |  | 2.2 |
2028 |  | 31.2 |  |  | 1.9 |
Thereafter |  | 82.1 |  |  | 10.2 |
Total lease payments |  | 349.5 |  |  | 21.4 |
Less: Imputed interest |  | (49.9) |  |  | (3.9) |
Total lease liabilities |  | $ | 299.6 |  |  | $ | 17.5 |
Maturities of Finance Lease Liabilities by Fiscal Year Schedule | Maturities of lease liabilities by fiscal year for the Company’s leases as of March 30, 2024 were as follows:
Year |  | Operating Leases |  | Finance Leases
2024 (remainder of the year) |  | $ | 47.8 |  |  | $ | 1.5 |
2025 |  | 82.8 |  |  | 3.0 |
2026 |  | 64.8 |  |  | 2.6 |
2027 |  | 40.8 |  |  | 2.2 |
2028 |  | 31.2 |  |  | 1.9 |
Thereafter |  | 82.1 |  |  | 10.2 |
Total lease payments |  | 349.5 |  |  | 21.4 |
Less: Imputed interest |  | (49.9) |  |  | (3.9) |
Total lease liabilities |  | $ | 299.6 |  |  | $ | 17.5 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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