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FAIR VALUE (Tables) | 3 Months Ended
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Dec. 29, 2023
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 at December 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 | $ | — |  |  | $ | 20.5 |  |  | $ | — |  |  | $ | 20.5 |
Commercial paper | — |  |  | 8.3 |  |  | — |  |  | 8.3 |
Corporate notes/bonds | — |  |  | 10.3 |  |  | — |  |  | 10.3 |
Government agencies | — |  |  | 20.1 |  |  | — |  |  | 20.1 |
U.S. Treasury bills | — |  |  | 21.8 |  |  | — |  |  | 21.8 |
Derivative assets | — |  |  | 0.8 |  |  | — |  |  | 0.8 |
Deferred compensation plan(1) | 6.9 |  |  | — |  |  | — |  |  | 6.9 |
Marketable equity securities | 3.6 |  |  | — |  |  | — |  |  | 3.6 |
Total assets measured at fair value | $ | 10.5 |  |  | $ | 81.8 |  |  | $ | — |  |  | $ | 92.3 |
Liabilities: |  |  |  |  |  |  |
Derivative liabilities | $ | — |  |  | $ | 7.7 |  |  | $ | — |  |  | $ | 7.7 |
Total liabilities measured at fair value | $ | — |  |  | $ | 7.7 |  |  | $ | — |  |  | $ | 7.7 |
(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 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 |
U.S. 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 Securities | The following is a summary of marketable debt securities, which are included within the cash and cash equivalents, prepaid expenses and other current assets, and other assets balances on the Condensed Consolidated Balance Sheets.
| December 29, 2023
(In millions) | Amortized Costs |  |  |  |  |  | Fair Value
Commercial paper | $ | 8.3 |  |  |  |  |  |  | $ | 8.3 |
Corporate notes/bonds | 10.3 |  |  |  |  |  |  | 10.3 |
U.S. Treasury bills | 21.8 |  |  |  |  |  |  | 21.8 |
Government agencies | 20.1 |  |  |  |  |  | 20.1
Total marketable debt securities | $ | 60.5 |  |  |  |  |  |  | $ | 60.5 |
| September 29, 2023
(In millions) | Amortized Costs |  |  |  |  |  | Fair Value
Commercial paper | $ | 6.0 |  |  |  |  |  |  | $ | 6.0 |
Corporate notes/bonds | 8.3 |  |  |  |  |  |  | 8.3 |
U.S. 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 December 29, 2023, are shown in the table below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations.
| December 29, 2023
(In millions) | Amortized Costs |  | Fair Value
Contractual maturities: |  |  |
Due within one year | $ | 60.5 |  |  | $ | 60.5 |
Due after one year through five years | — |  |  | — |
Total marketable debt securities | $ | 60.5 |  |  | $ | 60.5 |
The following tables summarize the balance sheet locations for marketable debt securities:
| December 29, 2023
(In millions) | Commercial paper |  | Corporate notes/bonds |  | Government agencies |  | Treasury bills |  | Total
Cash and cash equivalents | $ | 8.3 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 8.3 |
Prepaid expenses and other current assets | — |  |  | 10.3 |  |  | 20.1 |  |  | 21.8 |  |  | 52.2 |
Total marketable debt securities | $ | 8.3 |  |  | $ | 10.3 |  |  | $ | 20.1 |  |  | $ | 21.8 |  |  | $ | 60.5 |
| 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 |
Prepaid expenses and other current assets | — |  |  | 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/2003/role/disclosureRef -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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 + Details
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