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Leases (Tables) | 3 Months Ended
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Jan. 03, 2021
Leases [Abstract] |
Summary of Leases Related to Consolidated Statement of Financial Position | The following is a summary of the Company’s leases recognized on the Company’s Condensed Consolidated Statement of Financial Position as of January 3, 2021 and September 30, 2020:
(in millions) |  | Line Item |  | January 3, 2021 |  | September 30, 2020
Assets |  |  |  |  |  |
Operating |  | Operating lease assets |  | $ | 108.6 |  |  | $ | 103.8 |
Finance |  | Property, plant and equipment, net |  | 133.2 |  |  | 136.3 |
Total leased assets |  |  |  | $ | 241.8 |  |  | $ | 240.1 |
Liabilities |  |  |  |  |  |
Current |  |  |  |  |  |
Operating |  | Other current liabilities |  | $ | 25.6 |  |  | $ | 22.4 |
Finance |  | Current portion of long-term debt |  | 12.0 |  |  | 12.1 |
Long-term |  |  |  |  |  |
Operating |  | Long-term operating lease liabilities |  | 90.8 |  |  | 88.8 |
Finance |  | Long-term debt, net of current portion |  | 146.4 |  |  | 148.4 |
Total lease liabilities |  |  |  | $ | 274.8 |  |  | $ | 271.7 |
Schedule of Lease Costs | The components of lease costs recognized in the Condensed Consolidated Statement of Income for the three month periods ended January 3, 2021 and December 29, 2019 are as follows:
|  | Three Month Periods Ended |  |
(in millions) |  | January 3, 2021 |  | December 29, 2019 |  |  |  |
Operating lease cost |  | $ | 6.2 |  |  | $ | 6.6 |  |  |  |  |
Finance lease cost |  |  |  |  |  |  |  |
Amortization of leased assets |  | 3.8 |  |  | 3.6 |  |  |  |  |
Interest on lease liability |  | 2.3 |  |  | 2.3 |  |  |  |  |
Variable lease cost |  | 2.8 |  |  | 2.5 |  |  |  |  |
Total lease cost |  | $ | 15.1 |  |  | $ | 15.0 |  |  |  |  |
Summary of Cash Paid For Lease Liabilities | The following is a summary of the Company’s cash paid for amounts included in the measurement of lease liabilities recognized in the Condensed Consolidated Statement of Cash Flow, including supplemental non-cash activity related to operating leases, for the three month periods ending January 3, 2021 and December 29, 2019:
|  | Three Month Periods Ended |  |
(in millions) |  | January 3, 2021 |  | December 29, 2019 |  |  |  |
Operating cash flow from operating leases |  | $ | 5.5 |  |  | $ | 6.4 |  |  |  |  |
Operating cash flows from finance leases |  | 2.4 |  |  | 2.3 |  |  |  |  |
Financing cash flows from finance leases |  | 3.0 |  |  | 3.3 |  |  |  |  |
Supplemental non-cash flow disclosure |  |  |  |  |  |  |  |
Acquisition of operating lease asset through lease obligations |  | 8.6 |  |  | 2.4 |  |  |  |  |
Summary of Weighted-Average Lease Term and Discount Rate | The following is a summary of weighted-average lease term and discount rate at January 3, 2021 and September 30, 2020:
|  | January 3, 2021 |  | September 30, 2020
Weighted average remaining lease term |  |  |  |
Operating leases |  | 6.2 years |  | 6.6 years
Finance leases |  | 15.7 years |  | 15.6 years
Weighted average discount rate |  |  |  |
Operating leases |  | 4.6 | % |  | 4.7 | %
Finance leases |  | 5.6 | % |  | 5.6 | %
Schedule of Future Lease Payments Under Operating and Finance Leases | At January 3, 2021, future lease payments under operating and finance leases were as follows:
(in millions) |  | Finance Leases |  | Operating Leases
2021 remaining balance |  | $ | 15.2 |  |  | $ | 20.2 |
2022 |  | 18.1 |  |  | 26.4 |
2023 |  | 17.1 |  |  | 23.4 |
2024 |  | 16.8 |  |  | 14.9 |
2025 |  | 19.8 |  |  | 12.2 |
Thereafter |  | 162.6 |  |  | 38.6 |
Total lease payments |  | 249.6 |  |  | 135.7 |
Amount representing interest |  | (91.2) |  |  | (19.3) |
Total minimum lease payments |  | $ | 158.4 |  |  | $ | 116.4 |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980 + Details
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