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LEASES (Tables)

9 Months Ended

Jun. 29, 2024

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	June 29, 2024		July 1, 2023		September 30, 2023

Operating leases:
Right-of-use assets	Other assets	$	276.8	$	266.2	$	262.6

Current lease liabilities	Other current liabilities	73.9		77.7		76.4
Non-current lease liabilities	Other liabilities	228.1		216.4		220.1
Total operating lease liabilities		$	302.0	$	294.1	$	296.5

Finance leases:
Right-of-use assets	Property, plant and equipment, net	$	17.1	$	15.2	$	14.5

Current lease liabilities	Current portion of debt	2.9		1.9		1.9
Non-current lease liabilities	Long-term debt	16.8		15.5		15.0
Total finance lease liabilities		$	19.7	$	17.4	$	16.9

Weighted-average remaining lease term and discount rate for the Company’s leases were as follows:


	June 29, 2024		July 1, 2023		September 30, 2023
Weighted-average remaining lease term (in years):
Operating leases	5.3		4.6		5.4
Finance leases	8.0		9.6		9.5

Weighted-average discount rate:
Operating leases	5.9	%	4.1	%	5.2	%
Finance leases	4.8	%	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				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023

Operating lease cost (a)	$	21.5	$	22.0	$	63.8	$	68.1
Variable lease cost	7.6		6.7		23.4		20.3


Finance lease cost
Amortization of right-of-use assets	0.6		0.5		1.8		2.5
Interest on lease liabilities	0.2		0.2		0.6		0.6
Total finance lease cost	$	0.8	$	0.7	$	2.4	$	3.1

(a)Operating lease cost includes amortization of right-of-use assets of $17.5 and $52.2 for the three and nine months ended June 29, 2024, respectively, and $20.1 and $62.9 for the three and nine months ended July 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:


	Nine Months Ended
		June 29, 2024		July 1, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net		$	74.5	$	69.8
Operating cash flows from finance leases		0.6		0.6
Financing cash flows from finance leases		1.6		2.2

Right-of-use assets obtained in exchange for lease obligations:
Operating leases		$	65.2	$	67.6
Finance leases		4.5		—

Maturities of Operating Lease Liabilities by Fiscal Year Schedule

Maturities of lease liabilities by fiscal year for the Company’s leases as of June 29, 2024 were as follows:


Year	Operating Leases		Finance Leases
2024 (remainder of the year)	$	24.0	$	0.9
2025	86.9		3.7
2026	71.0		3.3
2027	47.0		2.9
2028	36.9		2.5
Thereafter	88.3		10.5
Total lease payments	354.1		23.8
Less: Imputed interest	(52.1)		(4.1)
Total lease liabilities	$	302.0	$	19.7

Maturities of Finance Lease Liabilities by Fiscal Year Schedule

Maturities of lease liabilities by fiscal year for the Company’s leases as of June 29, 2024 were as follows:


Year	Operating Leases		Finance Leases
2024 (remainder of the year)	$	24.0	$	0.9
2025	86.9		3.7
2026	71.0		3.3
2027	47.0		2.9
2028	36.9		2.5
Thereafter	88.3		10.5
Total lease payments	354.1		23.8
Less: Imputed interest	(52.1)		(4.1)
Total lease liabilities	$	302.0	$	19.7