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FAIR VALUE (Tables) | 12 Months Ended
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Sep. 27, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | In the tables below, the Company has segregated all assets and liabilities that are measured at fair value on a recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date.
| Fair Value Measurements at September 27, 2024
(In millions) | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
Assets: |  |  |  |  |  |  |
Money market funds | $ | — |  |  | $ | 24.4 |  |  | $ | — |  |  | $ | 24.4 |
Corporate notes/bonds | — |  |  | 16.5 |  |  | — |  |  | 16.5 |
Government agencies | — |  |  | 18.3 |  |  | — |  |  | 18.3 |
US treasury bills | — |  |  | 6.1 |  |  | — |  |  | 6.1 |
Certificates of deposit | — |  |  | 0.9 |  |  | — |  |  | 0.9 |
Derivative assets | — |  |  | 1.0 |  |  | — |  |  | 1.0 |
Deferred compensation plan(1) | 7.5 |  |  | — |  |  | — |  |  | 7.5 |
Marketable equity securities | 2.6 |  |  | — |  |  | — |  |  | 2.6 |
Total assets measured at fair value | $ | 10.1 |  |  | $ | 67.2 |  |  | $ | — |  |  | $ | 77.3 |
Liabilities: |  |  |  |  |  |  |
Derivative liabilities | $ | — |  |  | $ | 8.6 |  |  | $ | — |  |  | $ | 8.6 |
Total liabilities measured at fair value | $ | — |  |  | $ | 8.6 |  |  | $ | — |  |  | $ | 8.6 |
(1) The assets held under the Company’s deferred compensation plan are classified in Level 1 as they relate primarily to publicly traded mutual funds for which there are observable market prices in active markets.
| Fair Value Measurements at September 29, 2023
(In millions) | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
Assets: |  |  |  |  |  |  |
Money market funds | $ | — |  |  | $ | 45.4 |  |  | $ | — |  |  | $ | 45.4 |
Commercial paper | — |  |  | 6.0 |  |  | — |  |  | 6.0 |
Corporate notes/bonds | — |  |  | 8.3 |  |  | — |  |  | 8.3 |
Government agencies | — |  |  | 6.6 |  |  | — |  |  | 6.6 |
US treasury bills | — |  |  | 28.6 |  |  | — |  |  | 28.6 |
Derivative assets | — |  |  | 0.7 |  |  | — |  |  | 0.7 |
Deferred compensation plan(1) | 6.3 |  |  | — |  |  | — |  |  | 6.3 |
Marketable equity securities | 4.1 |  |  | — |  |  | — |  |  | 4.1 |
Total assets measured at fair value | $ | 10.4 |  |  | $ | 95.6 |  |  | $ | — |  |  | $ | 106.0 |
Liabilities: |  |  |  |  |  |  |
Derivative liabilities | $ | — |  |  | $ | 4.9 |  |  | $ | — |  |  | $ | 4.9 |
Total liabilities measured at fair value | $ | — |  |  | $ | 4.9 |  |  | $ | — |  |  | $ | 4.9 |
(1) The assets held under the Company’s deferred compensation plan are classified in Level 1 as they relate primarily to publicly traded mutual funds for which there are observable market prices in active markets.
Schedule of Gains and (Losses) on Marketable Debt Securities | The following is a summary of marketable debt securities, which are included within the cash and cash equivalents, marketable securities, and other assets balances on the Consolidated Balance Sheets.
| September 27, 2024
(In millions) | Amortized Costs |  | Unrealized Gains |  |  |  | Fair Value
Corporate notes/bonds | $ | 16.4 |  |  | $ | 0.1 |  |  |  |  | $ | 16.5 |
US treasury bills | 6.1 |  |  | — |  |  |  |  | 6.1 |
Government agencies | 18.3 |  |  | — |  |  |  |  | 18.3 |
Certificates of deposit | 0.9 |  |  | — |  |  |  |  | 0.9 |
Total marketable debt securities | $ | 41.7 |  |  | $ | 0.1 |  |  |  |  | $ | 41.8 |
The following table summarizes the marketable debt securities on the Consolidated Balance Sheets as of September 29, 2023.
| September 29, 2023
(In millions) | Amortized Costs |  |  |  |  |  | Fair Value
Commercial paper | $ | 6.0 |  |  |  |  |  |  | $ | 6.0 |
Corporate notes/bonds | 8.3 |  |  |  |  |  |  | 8.3 |
US treasury bills | 28.6 |  |  |  |  |  |  | 28.6 |
Government agencies | 6.6 |  |  |  |  |  |  | 6.6 |
Total marketable debt securities | $ | 49.5 |  |  |  |  |  |  | $ | 49.5 |
Schedule of Marketable Securities | The contractual maturities of marketable debt securities as of September 27, 2024, are shown in the table below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations.
| September 27, 2024
(In millions) | Amortized Costs |  | Fair Value
Contractual maturities: |  |  |
Due within one year | $ | 32.8 |  |  | $ | 32.8 |
Due after one year through five years | 8.9 |  |  | 9.0 |
Total marketable debt securities | $ | 41.7 |  |  | $ | 41.8 |
The following tables summarizes the balance sheet locations for marketable debt securities:
| September 27, 2024
(In millions) | Commercial Paper |  | Corporate Notes/Bonds |  | Government Agencies |  | Treasury Bills |  | Certificates of Deposit |  | Total
Cash and cash equivalents | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1.0 |  |  | $ | — |  |  | $ | 1.0 |
Marketable securities | — |  |  | 10.5 |  |  | 16.3 |  |  | 4.1 |  |  | 0.9 |  |  | 31.8 |
Other assets | — |  |  | 6.0 |  |  | 2.0 |  |  | 1.0 |  |  | — |  |  | 9.0 |
Total marketable debt securities | $ | — |  |  | $ | 16.5 |  |  | $ | 18.3 |  |  | $ | 6.1 |  |  | $ | 0.9 |  |  | $ | 41.8 |
| September 29, 2023
(In millions) | Commercial Paper |  | Corporate Notes/Bonds |  | Government Agencies |  | Treasury Bills |  | Total
Cash and cash equivalents | $ | 6.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 2.2 |  |  | $ | 8.2 |
Marketable securities | — |  |  | 8.3 |  |  | 6.6 |  |  | 26.4 |  |  | 41.3 |
Total marketable debt securities | $ | 6.0 |  |  | $ | 8.3 |  |  | $ | 6.6 |  |  | $ | 28.6 |  |  | $ | 49.5 |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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