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RELATED-PARTY TRANSACTIONS | 12 Months Ended
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Sep. 27, 2024
Related Party Transactions [Abstract] |
RELATED-PARTY TRANSACTIONS | RELATED-PARTY TRANSACTIONS Investment in Privately-Held Companies The Company has a 40% ownership interest in dpiX Holding Company LLC ("dpiX Holding"), a holding company that has a 100% ownership interest in dpiX LLC ("dpiX"), a supplier of amorphous silicon-based thin film transistor arrays for flat panels used in the Company's digital image detectors. In accordance with the dpiX Holding operating agreement, net profits or losses are allocated to the members in accordance with their ownership interests. The investment in dpiX Holding is accounted for under the equity method of accounting. When the Company recognizes its share of net profits or losses of dpiX Holding, profits or losses in inventory purchased from dpiX are eliminated. In fiscal years 2024, 2023, and 2022, the Company recorded a loss on the equity investment in dpiX Holding of $1.0 million, $0.2 million, and $2.6 million, respectively. The loss on the equity investment in dpiX Holding is included in other expense, net in the Consolidated Statements of Operations. The carrying value of the equity investment in dpiX Holding was $24.8 million and $25.8 million at September 27, 2024 and September 29, 2023, respectively. During fiscal year 2023, the Company recorded an impairment of its investment in dpiX Holding of $16.4 million. See Note 1, Summary of Significant Accounting Policies, for details on the nature of the impairment. There were no impairments recorded during fiscal year 2024 or 2022. In fiscal years 2024, 2023 and 2022, the Company purchased glass transistor arrays from dpiX totaling $18.0 million, $18.7 million and $21.0 million, respectively. These purchases of glass transistor arrays are included as a component of inventories, net on the Consolidated Balance Sheets or cost of revenues in the Consolidated Statements of Operations. As of September 27, 2024 and September 29, 2023, the Company had accounts payable to dpiX totaling $3.0 million and $2.7 million, respectively. In October 2013, the Company entered into an amended agreement with dpiX and other parties that, among other things, provides it with the right to 50% of dpiX’s total manufacturing capacity. In addition, the Company is required to pay for 50% of dpiX's fixed costs, as determined at the beginning of each calendar year. In January 2024, the fixed cost commitment was determined and approved by the dpiX board of directors to be $12.4 million for calendar year 2024. As of September 27, 2024, the Company estimated it has fixed cost commitments of $3.1 million related to the amended agreement through the remainder of calendar year 2024. The amended agreement will continue unless the ownership structure of dpiX changes (as defined in the amended agreement). The Company has determined that dpiX Holding is a variable interest entity because the at-risk equity holders, as a group, lack the characteristics of a controlling financial interest. Majority votes are required to direct the manufacturing activities, legal operations and other activities that most significantly affect dpiX’s economic performance. The Company does not have majority voting rights and no power to unilaterally direct the activities of dpiX Holding, and therefore, is not the primary beneficiary of dpiX Holding. The Company’s exposure to loss as a result of its involvement with dpiX Holding is limited to the carrying value of the Company’s investment of $24.8 million and fixed cost commitments. In November 2018, the Company (through one of its wholly-owned subsidiaries) and CETTEEN GmbH (“CETTEEN”), formed a German limited liability company that governs the affairs and conduct of the business of VEC Imaging GmbH & Co. KG (“VEC”), a joint venture formed to develop technology for use in X-ray imaging components. In accordance with the VEC agreement, net profits or losses are allocated to the members in accordance with their ownership interest. The Company's investment in VEC is accounted for under the equity method of accounting. The Company has determined that VEC is a variable interest entity. In fiscal years 2024, 2023, and 2022, the Company recorded a loss on the equity investment in VEC of $0.1 million, $0.4 million, and $0.8 million respectively. The Company's investment in VEC was $2.0 million and $2.1 million as of September 27, 2024 and September 29, 2023, respectively. In fiscal years 2024 and 2023, the Company had loans and other receivables from VEC of $0.7 million and $0.7 million, respectively, which are recorded in prepaid expenses and other current assets in the Consolidated Balance Sheets.

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