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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Oct. 03, 2025
Accounting Policies [Abstract] |
Schedule of Prior Period Revisions | The following tables provide a reconciliation of the revisions for the previously reported Consolidated Statements of Operations, Consolidated Statements of Comprehensive (Loss) Income, Consolidated Statements of Stockholders' Equity, and Consolidated Statements of Cash Flows as of the fiscal years ended September 27, 2024 and September 29, 2023 and the revisions for the previously reported Consolidated Balance Sheets as of the fiscal year ended September 27, 2024. CONSOLIDATED STATEMENTS OF OPERATIONS
| Fiscal Years
| 2024 |  | 2023
(In millions, except per share amounts) | As Previously Reported |  | Revision |  | As Revised |  | As Previously Reported |  | Revision |  | As Revised
Income tax expense (benefit) | $ | 52.2 |  |  | $ | 1.1 |  |  | $ | 53.3 |  |  | $ | (17.4) |  |  | $ | 0.8 |  |  | $ | (16.6) |
Net (loss) income | (47.2) |  |  | (1.1) |  |  | (48.3) |  |  | 48.7 |  |  | (0.8) |  |  | 47.9 |
Net (loss) income attributable to Varex | (47.7) |  |  | (1.1) |  |  | (48.8) |  |  | 48.2 |  |  | (0.8) |  |  | 47.4 |
Net (loss) income per common share attributable to Varex |  |  |  |  |  |  |  |  |  |  |
Basic | $ | (1.17) |  |  | $ | (0.03) |  |  | $ | (1.20) |  |  | $ | 1.20 |  |  | $ | (0.02) |  |  | $ | 1.18 |
Diluted | $ | (1.17) |  |  | $ | (0.03) |  |  | $ | (1.20) |  |  | $ | 1.08 |  |  | $ | (0.01) |  |  | $ | 1.07 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME
| Fiscal Years
| 2024 |  | 2023
(In millions) | As Previously Reported |  | Revision |  | As Revised |  | As Previously Reported |  | Revision |  | As Revised
Net (loss) income | $ | (47.2) |  |  | $ | (1.1) |  |  | $ | (48.3) |  |  | $ | 48.7 |  |  | $ | (0.8) |  |  | $ | 47.9 |
Total comprehensive (loss) income | (48.9) |  |  | (1.1) |  |  | (50.0) |  |  | 47.4 |  |  | (0.8) |  |  | 46.6 |
Comprehensive (loss) income attributable to Varex | (49.4) |  |  | (1.1) |  |  | (50.5) |  |  | 46.9 |  |  | (0.8) |  |  | 46.1 |
CONSOLIDATED BALANCE SHEETS
|  | September 27, 2024
(In millions) |  | As Previously Reported |  | Revision |  | As Revised
Deferred tax assets |  | $ | 4.7 |  |  | $ | (3.4) |  |  | $ | 1.3 |
Total assets |  | 1,217.0 |  |  | (3.4) |  |  | 1,213.6 |
Deferred tax liabilities |  | 1.4 |  |  | 2.6 |  |  | 4.0 |
Total liabilities |  | 667.8 |  |  | 2.6 |  |  | 670.4 |
Retained earnings |  | 70.4 |  |  | (6.0) |  |  | 64.4 |
Total Varex stockholders' equity |  | 535.1 |  |  | (6.0) |  |  | 529.1 |
Total stockholders' equity |  | 549.2 |  |  | (6.0) |  |  | 543.2 |
Total liabilities and stockholders' equity |  | 1,217.0 |  |  | (3.4) |  |  | 1,213.6 |
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
(In millions) | Retained Earnings |  | Total Varex Equity |  | Total Stockholders' Equity
As Previously Reported |  |  |  |  |
For the Year Ended September 29, 2023 |  |  |  |  |
Balance at September 30, 2022 | $ | 63.8 |  |  | $ | 533.4 |  |  | $ | 546.7 |
Net income | 48.2 |  |  | 48.2 |  |  | 48.7 |
Balance at September 29, 2023 | $ | 118.1 |  |  | $ | 567.7 |  |  | $ | 581.0 |
Revision |  |  |  |  |
For the Year Ended September 29, 2023 |  |  |  |  |
Balance at September 30, 2022 | $ | (4.1) |  |  | $ | (4.1) |  |  | $ | (4.1) |
Net loss | (0.8) |  |  | (0.8) |  |  | (0.8) |
Balance at September 29, 2023 | $ | (4.9) |  |  | $ | (4.9) |  |  | $ | (4.9) |
As Revised |  |  |  |  |
For the Year Ended September 29, 2023 |  |  |  |  |
Balance at September 30, 2022 | $ | 59.7 |  |  | $ | 529.3 |  |  | $ | 542.6 |
Net income | 47.4 |  |  | 47.4 |  |  | 47.9 |
Balance at September 29, 2023 | $ | 113.2 |  |  | $ | 562.8 |  |  | $ | 576.1 |
(In millions) | Retained Earnings |  | Total Varex Equity |  | Total Stockholders' Equity
As Previously Reported |  |  |  |  |
For the Year Ended September 27, 2024 |  |  |  |  |
Balance at September 29, 2023 | $ | 118.1 |  |  | $ | 567.7 |  |  | $ | 581.0 |
Net loss | (47.7) |  |  | (47.7) |  |  | (47.2) |
Balance at September 27, 2024 | $ | 70.4 |  |  | $ | 535.1 |  |  | $ | 549.2 |
Revision |  |  |  |  |
For the Year Ended September 27, 2024 |  |  |  |  |
Balance at September 29, 2023 | $ | (4.9) |  |  | $ | (4.9) |  |  | $ | (4.9) |
Net loss | (1.1) |  |  | (1.1) |  |  | (1.1) |
Balance at September 27, 2024 | $ | (6.0) |  |  | $ | (6.0) |  |  | $ | (6.0) |
As Revised |  |  |  |  |
For the Year Ended September 27, 2024 |  |  |  |  |
Balance at September 29, 2023 | $ | 113.2 |  |  | $ | 562.8 |  |  | $ | 576.1 |
Net loss | (48.8) |  |  | (48.8) |  |  | (48.3) |
Balance at September 27, 2024 | $ | 64.4 |  |  | $ | 529.1 |  |  | $ | 543.2 |
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Fiscal Years
| 2024 |  | 2023
(In millions) | As Previously Reported |  | Revision |  | As Revised |  | As Previously Reported |  | Revision |  | As Revised
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |
Net (loss) income | $ | (47.2) |  |  | $ | (1.1) |  |  | $ | (48.3) |  |  | $ | 48.7 |  |  | $ | (0.8) |  |  | $ | 47.9 |
Deferred taxes | 37.0 |  |  | 1.1 |  |  | 38.1 |  |  | (39.5) |  |  | 0.8 |  |  | (38.7) |
These revisions had no impact on gross profit, operating expenses, or operating income in any of the fiscal periods.
Schedule of Cash and Cash Equivalents | Cash and cash equivalents and restricted cash as reported within the Consolidated Statements of Cash Flows consisted of the following:
| October 3, 2025 |  | September 27, 2024
(In millions) | Beginning of Period |  | End of Period |  | Beginning of Period |  | End of Period
Cash and cash equivalents | $ | 168.7 |  |  | $ | 145.0 |  |  | $ | 152.6 |  |  | $ | 168.7 |
Restricted cash | 1.7 |  |  | 2.1 |  |  | 1.4 |  |  | 1.7 |
Total as presented in the Consolidated Statements of Cash Flows | $ | 170.4 |  |  | $ | 147.1 |  |  | $ | 154.0 |  |  | $ | 170.4 |
Schedule of Restrictions on Cash and Cash Equivalents | Cash and cash equivalents and restricted cash as reported within the Consolidated Statements of Cash Flows consisted of the following:
| October 3, 2025 |  | September 27, 2024
(In millions) | Beginning of Period |  | End of Period |  | Beginning of Period |  | End of Period
Cash and cash equivalents | $ | 168.7 |  |  | $ | 145.0 |  |  | $ | 152.6 |  |  | $ | 168.7 |
Restricted cash | 1.7 |  |  | 2.1 |  |  | 1.4 |  |  | 1.7 |
Total as presented in the Consolidated Statements of Cash Flows | $ | 170.4 |  |  | $ | 147.1 |  |  | $ | 154.0 |  |  | $ | 170.4 |
Schedule of Customers with a Significant Portion of Revenue | During the periods presented, one of the Company's customers accounted for a significant portion of revenues, as set forth below:
| Fiscal Years |  |
| 2025 |  | 2024 |  | 2023 |  |
Canon Medical Systems Corporation | 18.0 | % |  | 17.6 | % |  | 16.5 | % |  |
Schedule of Inventory, Current | The following table summarizes the Company’s inventories, net:
(In millions) | October 3, 2025 |  | September 27, 2024
Raw materials and parts | $ | 228.1 |  |  | $ | 214.5 |
Work-in-process | 31.3 |  |  | 16.2 |
Finished goods | 40.0 |  |  | 34.1 |
Total inventories, net | $ | 299.4 |  |  | $ | 264.8 |
Property, Plant and Equipment | The following table summarizes the Company’s property, plant, and equipment, net:
(In millions) | October 3, 2025 |  | September 27, 2024
Land | $ | 8.6 |  |  | $ | 8.6 |
Buildings and leasehold improvements | 166.3 |  |  | 165.5 |
Machinery and equipment | 217.0 |  |  | 206.5 |
Construction in progress | 36.9 |  |  | 25.0 |
Gross property, plant, and equipment | $ | 428.8 |  |  | $ | 405.6 |
Less: Accumulated depreciation and amortization | (271.0) |  |  | (252.2) |
Total property, plant, and equipment, net | $ | 157.8 |  |  | $ | 153.4 |
Supplier Finance Program | The following table presents the change in the direct supplier financing obligation:
(In millions) | October 3, 2025 |  | September 27, 2024
Confirmed obligations outstanding at the beginning of the period | $ | 2.6 |  |  | $ | 4.2 |
Invoices confirmed during the period | 27.9 |  |  | 31.3 |
Confirmed invoices paid during the period | (27.6) |  |  | (32.9) |
Confirmed obligations outstanding at the end of the period | $ | 2.9 |  |  | $ | 2.6 |
Schedule of Product Warranty Liability | The following table reflects the changes in the Company’s accrued product warranty:
(In millions) | October 3, 2025 |  | September 27, 2024
Accrued product warranty, at beginning of period | $ | 10.8 |  |  | $ | 7.7 |
New accruals charged to cost of revenues | 13.0 |  |  | 21.0 |
Product warranty expenditures | (15.3) |  |  | (17.9) |
Accrued product warranty, at end of period | $ | 8.5 |  |  | $ | 10.8 |

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