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EQUITY (Tables) | 9 Months Ended
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Jun. 29, 2024
Equity [Abstract] |
Summary of Changes in Equity (Deficit) | The following tables provide a summary of the changes in equity (deficit) for each of the periods indicated:
| Common Shares and Capital in Excess of Stated Value |  | Retained Earnings |  | Treasury Shares |  | Accumulated Other Comprehensive Loss |  |  |  |  |  | Total Equity (Deficit)
Balance at September 30, 2023 | $ | 353.1 |  |  | $ | 490.9 |  |  | $ | (998.5) |  |  | $ | (112.8) |  |  |  |  |  |  | $ | (267.3) |
Net income (loss) | — |  |  | (80.5) |  |  | — |  |  | — |  |  |  |  |  |  | (80.5) |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | (8.9) |  |  |  |  |  |  | (8.9) |
Share-based compensation | 11.7 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 11.7 |
Dividends declared ($0.66 per share) | — |  |  | (38.0) |  |  | — |  |  | — |  |  |  |  |  |  | (38.0) |
Treasury share purchases | — |  |  | — |  |  | (3.1) |  |  | — |  |  |  |  |  |  | (3.1) |
Treasury share issuances | (15.2) |  |  | — |  |  | 15.9 |  |  | — |  |  |  |  |  |  | 0.7 |
Balance at December 30, 2023 | 349.6 |  |  | 372.4 |  |  | (985.7) |  |  | (121.7) |  |  |  |  |  |  | (385.4) |
Net income (loss) | — |  |  | 157.5 |  |  | — |  |  | — |  |  |  |  |  |  | 157.5 |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | 3.0 |  |  |  |  |  |  | 3.0 |
Share-based compensation | 12.4 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 12.4 |
Dividends declared ($0.66 per share) | — |  |  | (38.1) |  |  | — |  |  | — |  |  |  |  |  |  | (38.1) |
Treasury share purchases | — |  |  | — |  |  | (1.7) |  |  | — |  |  |  |  |  |  | (1.7) |
Treasury share issuances | (8.3) |  |  | — |  |  | 9.6 |  |  | — |  |  |  |  |  |  | 1.3 |
Balance at March 30, 2024 | 353.7 |  |  | 491.8 |  |  | (977.8) |  |  | (118.6) |  |  |  |  |  |  | (250.9) |
Net income (loss) | — |  |  | 132.1 |  |  | — |  |  | — |  |  |  |  |  |  | 132.1 |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | 1.8 |  |  |  |  |  |  | 1.8 |
Share-based compensation | 8.3 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 8.3 |
Dividends declared ($0.66 per share) | — |  |  | (38.1) |  |  | — |  |  | — |  |  |  |  |  |  | (38.1) |
Treasury share purchases | — |  |  | — |  |  | (0.2) |  |  | — |  |  |  |  |  |  | (0.2) |
Treasury share issuances | (1.4) |  |  | — |  |  | 2.2 |  |  | — |  |  |  |  |  |  | 0.8 |
Balance at June 29, 2024 | $ | 360.6 |  |  | $ | 585.8 |  |  | $ | (975.7) |  |  | $ | (116.9) |  |  |  |  |  |  | $ | (146.2) |
The sum of the components may not equal due to rounding.
| Common Shares and Capital in Excess of Stated Value |  | Retained Earnings |  | Treasury Shares |  | Accumulated Other Comprehensive Loss |  |  |  |  |  | Total Equity (Deficit)
Balance at September 30, 2022 | $ | 364.0 |  |  | $ | 1,020.1 |  |  | $ | (1,091.8) |  |  | $ | (144.6) |  |  |  |  |  |  | $ | 147.7 |
Net income (loss) | — |  |  | (64.7) |  |  | — |  |  | — |  |  |  |  |  |  | (64.7) |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | (24.6) |  |  |  |  |  |  | (24.6) |
Share-based compensation | 20.8 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 20.8 |
Dividends declared ($0.66 per share) | — |  |  | (37.5) |  |  | — |  |  | — |  |  |  |  |  |  | (37.5) |
Treasury share purchases | — |  |  | — |  |  | (0.8) |  |  | — |  |  |  |  |  |  | (0.8) |
Treasury share issuances | (17.2) |  |  | — |  |  | 35.9 |  |  | — |  |  |  |  |  |  | 18.7 |
Balance at December 31, 2022 | 367.6 |  |  | 917.9 |  |  | (1,056.7) |  |  | (169.3) |  |  |  |  |  |  | 59.5 |
Net income (loss) | — |  |  | 109.4 |  |  | — |  |  | — |  |  |  |  |  |  | 109.4 |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | (17.8) |  |  |  |  |  |  | (17.8) |
Share-based compensation | 37.2 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 37.2 |
Dividends declared ($0.66 per share) | — |  |  | (37.0) |  |  | — |  |  | — |  |  |  |  |  |  | (37.0) |
Treasury share purchases | — |  |  | — |  |  | (5.6) |  |  | — |  |  |  |  |  |  | (5.6) |
Treasury share issuances | (30.4) |  |  | — |  |  | 22.3 |  |  | — |  |  |  |  |  |  | (8.1) |
Balance at April 1, 2023 | 374.3 |  |  | 990.3 |  |  | (1,040.0) |  |  | (187.1) |  |  |  |  |  |  | 137.5 |
Net income (loss) | — |  |  | 43.7 |  |  | — |  |  | — |  |  |  |  |  |  | 43.7 |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | 6.6 |  |  |  |  |  |  | 6.6 |
Share-based compensation | (5.8) |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | (5.8) |
Dividends declared ($0.66 per share) | — |  |  | (37.2) |  |  | — |  |  | — |  |  |  |  |  |  | (37.2) |
Treasury share purchases | — |  |  | — |  |  | (2.8) |  |  | — |  |  |  |  |  |  | (2.8) |
Treasury share issuances | (18.0) |  |  | — |  |  | 10.8 |  |  | — |  |  |  |  |  |  | (7.2) |
Balance at July 1, 2023 | $ | 350.5 |  |  | $ | 996.8 |  |  | $ | (1,032.0) |  |  | $ | (180.5) |  |  |  |  |  |  | $ | 134.8 |
The sum of the components may not equal due to rounding.
Schedule of Accumulated Other Comprehensive Loss | Changes in accumulated other comprehensive loss (“AOCL”) by component were as follows for each of the periods indicated:
|  | Three Months Ended
|  | Foreign Currency Translation Adjustments |  | Net Unrealized Gain (Loss) On Derivative Instruments |  | Net Unrealized Gain (Loss) On Securities |  | Pension and Other Post-Retirement Benefit Adjustments |  | Accumulated Other Comprehensive Income (Loss)
Balance at March 30, 2024 |  | $ | (21.4) |  |  | $ | 15.7 |  |  | $ | (40.1) |  |  | $ | (72.9) |  |  | $ | (118.6) |
Other comprehensive income (loss) before reclassifications |  | (1.3) |  |  | 1.6 |  |  | 5.1 |  |  | — |  |  | 5.4 |
Amounts reclassified from accumulated other comprehensive net income (loss) |  | — |  |  | (5.1) |  |  | — |  |  | 0.8 |  |  | (4.3) |
Income tax benefit (expense) |  | — |  |  | 0.9 |  |  | — |  |  | (0.2) |  |  | 0.7 |
Net current period other comprehensive income (loss) |  | (1.3) |  |  | (2.6) |  |  | 5.1 |  |  | 0.6 |  |  | 1.8 |
Balance at June 29, 2024 |  | $ | (22.6) |  |  | $ | 13.1 |  |  | $ | (35.0) |  |  | $ | (72.3) |  |  | $ | (116.9) |
Balance at April 1, 2023 |  | $ | (20.7) |  |  | $ | 11.8 |  |  | $ | (105.7) |  |  | $ | (72.6) |  |  | $ | (187.1) |
Other comprehensive income (loss) before reclassifications |  | 2.7 |  |  | 9.7 |  |  | 0.6 |  |  | — |  |  | 13.0 |
Amounts reclassified from accumulated other comprehensive net income (loss) |  | — |  |  | (4.3) |  |  | — |  |  | (0.8) |  |  | (5.1) |
Income tax benefit (expense) |  | — |  |  | (1.4) |  |  | (0.1) |  |  | 0.2 |  |  | (1.3) |
Net current period other comprehensive income (loss) |  | 2.7 |  |  | 4.0 |  |  | 0.5 |  |  | (0.6) |  |  | 6.6 |
Balance at July 1, 2023 |  | $ | (18.0) |  |  | $ | 15.8 |  |  | $ | (105.2) |  |  | $ | (73.2) |  |  | $ | (180.5) |
The sum of the components may not equal due to rounding.
|  | Nine Months Ended
|  | Foreign Currency Translation Adjustments |  | Net Unrealized Gain (Loss) On Derivative Instruments |  | Net Unrealized Gain (Loss) On Securities |  | Pension and Other Post-Retirement Benefit Adjustments |  | Accumulated Other Comprehensive Income (Loss)
Balance at September 30, 2023 |  | $ | (21.9) |  |  | $ | 20.1 |  |  | $ | (38.6) |  |  | $ | (72.4) |  |  | $ | (112.8) |
Other comprehensive income (loss) before reclassifications |  | (0.8) |  |  | (1.2) |  |  | 3.6 |  |  | — |  |  | 1.6 |
Amounts reclassified from accumulated other comprehensive net income (loss) |  | — |  |  | (8.3) |  |  | — |  |  | 0.3 |  |  | (8.0) |
Income tax benefit (expense) |  | — |  |  | 2.4 |  |  | — |  |  | (0.1) |  |  | 2.3 |
Net current period other comprehensive income (loss) |  | (0.8) |  |  | (7.1) |  |  | 3.6 |  |  | 0.2 |  |  | (4.1) |
Balance at June 29, 2024 |  | $ | (22.6) |  |  | $ | 13.1 |  |  | $ | (35.0) |  |  | $ | (72.3) |  |  | $ | (116.9) |
Balance at September 30, 2022 |  | $ | (28.9) |  |  | $ | 33.3 |  |  | $ | (79.7) |  |  | $ | (69.3) |  |  | $ | (144.6) |
Other comprehensive income (loss) before reclassifications |  | 10.9 |  |  | (3.2) |  |  | (33.5) |  |  | — |  |  | (25.8) |
Amounts reclassified from accumulated other comprehensive net income (loss) |  | — |  |  | (20.3) |  |  | — |  |  | (5.1) |  |  | (25.4) |
Income tax benefit (expense) |  | — |  |  | 5.9 |  |  | 8.0 |  |  | 1.3 |  |  | 15.2 |
Net current period other comprehensive income (loss) |  | 10.9 |  |  | (17.5) |  |  | (25.5) |  |  | (3.8) |  |  | (35.9) |
Balance at July 1, 2023 |  | $ | (18.0) |  |  | $ | 15.8 |  |  | $ | (105.2) |  |  | $ | (73.2) |  |  | $ | (180.5) |
The sum of the components may not equal due to rounding.
Schedule of Share-Based Compensation | Total share-based compensation was as follows for each of the periods indicated:
| Three Months Ended |  | Nine Months Ended
| June 29, 2024 |  | July 1, 2023 |  | June 29, 2024 |  | July 1, 2023
Share-based compensation | $ | 21.0 |  |  | $ | (5.8) |  |  | $ | 65.0 |  |  | $ | 52.2 |
Related tax benefit recognized | 4.5 |  |  | 0.6 |  |  | 11.7 |  |  | 11.4 |

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