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FAIR VALUE MEASUREMENTS | 3 Months Ended
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Dec. 28, 2024
Fair Value Disclosures [Abstract] |
FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS The following table summarizes the fair value of the Company’s assets and liabilities for which disclosure of fair value is required:
|  | Fair Value Hierarchy Level |  | December 28, 2024 |  | December 30, 2023 |  | September 30, 2024
|  |  | Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | Level 1 |  | $ | 0.9 |  |  | $ | 0.9 |  |  | $ | 1.5 |  |  | $ | 1.5 |  |  | $ | 51.2 |  |  | $ | 51.2 |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities in non-qualified retirement plan assets |  | Level 1 |  | 32.7 |  |  | 32.7 |  |  | 40.1 |  |  | 40.1 |  |  | 32.4 |  |  | 32.4 |
Convertible debt investments |  | Level 3 |  | 28.1 |  |  | 28.1 |  |  | 85.0 |  |  | 85.0 |  |  | 45.8 |  |  | 45.8 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit facilities – revolving loans |  | Level 2 |  | 475.6 |  |  | 475.6 |  |  | 511.2 |  |  | 511.2 |  |  | — |  |  | — |
Credit facilities – term loans |  | Level 2 |  | 612.5 |  |  | 612.5 |  |  | 912.5 |  |  | 912.5 |  |  | 625.0 |  |  | 625.0 |
Senior Notes due 2031 – 4.000% |  | Level 2 |  | 500.0 |  |  | 435.0 |  |  | 500.0 |  |  | 425.0 |  |  | 500.0 |  |  | 456.3 |
Senior Notes due 2032 – 4.375% |  | Level 2 |  | 400.0 |  |  | 348.0 |  |  | 400.0 |  |  | 339.0 |  |  | 400.0 |  |  | 370.0 |
Senior Notes due 2029 – 4.500% |  | Level 2 |  | 450.0 |  |  | 414.0 |  |  | 450.0 |  |  | 401.6 |  |  | 450.0 |  |  | 432.0 |
Senior Notes due 2026 – 5.250% |  | Level 2 |  | 250.0 |  |  | 245.0 |  |  | 250.0 |  |  | 242.2 |  |  | 250.0 |  |  | 248.8 |
Other debt |  | Level 2 |  | 2.3 |  |  | 2.3 |  |  | 2.5 |  |  | 2.5 |  |  | — |  |  | — |
Changes in the balance of Level 3 convertible debt investments carried at fair value are presented below. There were no transfers into or out of Level 3.
| Three Months Ended
| December 28, 2024 |  | December 30, 2023
Fair value at beginning of period | $ | 45.8 |  |  | $ | 85.8 |
Total realized / unrealized gains (losses) included in net earnings | (7.0) |  |  | 0.1 |
Total realized / unrealized losses included in OCI | — |  |  | (0.9) |
Exchange for non-voting exchangeable shares of Cansortium | (10.7) |  |  | — |
Fair value at end of period | $ | 28.1 |  |  | $ | 85.0 |
On December 18, 2024, the Company exchanged its convertible debt investment in RIV Capital for non-voting exchangeable shares of Cansortium. Refer to “NOTE 2. INVESTMENT IN UNCONSOLIDATED AFFILIATES” for further details. The amortized cost basis of convertible debt investments was $44.4, $225.9 and $62.1 at December 28, 2024, December 30, 2023 and September 30, 2024, respectively. At December 28, 2024, December 30, 2023 and September 30, 2024, gross unrealized losses on convertible debt investments were $16.4, $140.9 and $16.4, respectively, and there were no gross unrealized gains. These investments have been in a continuous unrealized loss position for greater than 12 months as of December 28, 2024. The allowance for expected credit losses was $1.9, $101.3 and $1.9 at December 28, 2024, December 30, 2023 and September 30, 2024, respectively. At December 28, 2024, the weighted-average period until scheduled maturity of the Company’s convertible debt investments was 4.7 years.

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- Definition The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/820/tableOfContent + Details
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