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Retirement Plans (Tables)
12 Months Ended
Sep. 26, 2014
Compensation and Retirement Disclosure [Abstract]  
Schedule of Net Periodic Benefit Cost
The net periodic benefit cost (credit) for the Company's pension and postretirement benefit plans was as follows:
 
Pension Benefits
 
Postretirement Benefits
 
Fiscal Year
 
Fiscal Year
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Service cost
$
5.1

 
$
5.0

 
$
5.0

 
$
0.1

 
$
0.1

 
$
0.1

Interest cost
19.6

 
18.2

 
21.2

 
2.1

 
2.4

 
3.1

Expected return on plan assets
(24.6
)
 
(29.6
)
 
(24.5
)
 

 

 

Amortization of net actuarial loss
8.1

 
12.3

 
11.7

 

 
0.3

 
0.2

Amortization of prior service cost
(0.6
)
 
0.6

 
0.7

 
(9.3
)
 
(9.1
)
 
(9.2
)
Plan settlements loss
3.8

 
6.8

 
(0.2
)
 

 

 

Net periodic benefit cost (credit)
$
11.4

 
$
13.3

 
$
13.9

 
$
(7.1
)
 
$
(6.3
)
 
$
(5.8
)
Schedule of Changes in Benefit Obligations, Plan Assets, and Funded Status of Plans
The following table represents the changes in benefit obligations, plan assets and the net amounts recognized on the consolidated balance sheets for pension and postretirement benefit plans at the end of fiscal 2014 and 2013:
 
Pension Benefits
 
Postretirement Benefits
 
2014
 
2013
 
2014
 
2013
Change in benefit obligation:
 
 
 
 
 
 
 
Projected benefit obligations at beginning of year
$
501.7

 
$
533.2

 
$
53.2

 
$
80.3

Service cost
5.1

 
5.0

 
0.1

 
0.1

Interest cost
19.6

 
18.2

 
2.1

 
2.4

Employee contributions
0.6

 
0.3

 

 

Actuarial (gain) loss
60.0

 
(24.0
)
 
0.5

 
(9.3
)
Benefits and administrative expenses paid
(21.9
)
 
(21.9
)
 
(3.9
)
 
(3.8
)
Plan amendments

 
(9.0
)
 

 
(16.5
)
Plan settlements
(17.6
)
 
(24.2
)
 

 

Plan combinations

 
18.4

 

 

Currency translation
(9.1
)
 
5.7

 

 

Projected benefit obligations at end of year
$
538.4

 
$
501.7

 
$
52.0

 
$
53.2

 
 
 
 
 
 
 
 
Change in plan assets:
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
$
456.0

 
$
432.0

 
$

 
$

Actual return on plan assets
59.7

 
17.3

 

 

Employer contributions
4.9

 
44.4

 
3.9

 
3.8

Employee contributions
0.6

 
0.3

 

 

Benefits and administrative expenses paid
(21.9
)
 
(21.9
)
 
(3.9
)
 
(3.8
)
Plan settlements
(17.6
)
 
(24.2
)
 

 

Plan combinations

 
2.3

 

 

Currency translation
(8.1
)
 
5.8

 

 

Fair value of plan assets at end of year
$
473.6

 
$
456.0

 
$

 
$

Funded status at end of year
$
(64.8
)
 
$
(45.7
)
 
$
(52.0
)
 
$
(53.2
)
Schedule of Amounts Recognized in Balance Sheet
 
Pension Benefits
 
Postretirement Benefits
 
2014
 
2013
 
2014
 
2013
Amounts recognized on the consolidated balance sheet:
 
 
 
 
 
 
 
Non-current assets
$
9.8

 
$
17.1

 
$

 
$

Current liabilities
(2.7
)
 
(3.1
)
 
(4.8
)
 
(4.9
)
Non-current liabilities
(71.9
)
 
(59.7
)
 
(47.2
)
 
(48.3
)
Net amount recognized on the consolidated balance sheet
$
(64.8
)
 
$
(45.7
)
 
$
(52.0
)
 
$
(53.2
)
 
 
 
 
 
 
 
 
Amounts recognized in accumulated other comprehensive income consist of:
 
 
 
 
 
 
 
Net actuarial loss
$
(115.1
)
 
$
(102.9
)
 
$
(2.9
)
 
$
(2.4
)
Prior service credit (cost)
6.9

 
7.9

 
18.8

 
28.2

Net amount recognized in accumulated other comprehensive income
$
(108.2
)
 
$
(95.0
)
 
$
15.9

 
$
25.8

Schedule of Amounts to be Amortized from Accumulated Other Comprehensive Income
The estimated amounts that will be amortized from accumulated other comprehensive income into net periodic benefit cost (credit) in fiscal 2015 are as follows:
 
Pension Benefits
 
Postretirement Benefits
Amortization of net actuarial loss
$
9.4

 
$

Amortization of prior service cost
(0.6
)
 
(3.9
)
Schedule of Plans with Accumulated Benefit Obligations in Excess of Plan Assets
Additional information related to pension plans is as follows:
 
2014
 
2013
Pension plans with accumulated benefit obligations in excess of plan assets:
 
 
 
Accumulated benefit obligation
$
394.7

 
$
377.6

Fair value of plan assets
321.6

 
316.2

Schedule of Actuarial Assumptions
The weighted-average discount rate used to determine net periodic benefit cost and obligations for the Company's postretirement benefit plans are as follows:
 
2014
 
2013
 
2012
Net periodic benefit cost
4.0
%
 
3.2
%
 
4.1
%
Benefit obligations
3.7
%
 
4.0
%
 
3.2
%
Weighted-average assumptions used each fiscal year to determine net periodic benefit cost for the Company's pension plans are as follows:
 
U.S. Plans
 
Non-U.S. Plans
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount rate
4.2
%
 
3.5
%
 
4.4
%
 
3.5
%
 
4.0
%
 
5.2
%
Expected return on plan assets
6.5
%
 
7.9
%
 
7.5
%
 
3.1
%
 
3.5
%
 
4.0
%
Rate of compensation increase
%
 
%
 
2.8
%
 
3.5
%
 
3.7
%
 
3.7
%

Weighted-average assumptions used each fiscal year to determine benefits obligations for the Company's pension plans are as follows:
 
U.S. Plans
 
Non-U.S. Plans
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount rate
3.9
%
 
4.3
%
 
3.5
%
 
2.5
%
 
3.7
%
 
4.0
%
Rate of compensation increase
%
 
%
 
%
 
3.4
%
 
3.5
%
 
3.7
%
Schedule of Healthcare Cost Trend Rates
Healthcare cost trend assumptions for postretirement benefit plans are as follows:
 
2014
 
2013
Healthcare cost trend rate assumed for next fiscal year
7.1
%
 
7.3
%
Rate to which the cost trend rate is assumed to decline
4.5
%
 
4.5
%
Fiscal year the ultimate trend rate is achieved
2029

 
2029

Schedule of Effect of One-Percentage-Point Change in Assumed Healthcare Cost Trend Rates
A one-percentage-point change in assumed healthcare cost trend rates would have the following effects:
 
One-Percentage-Point Increase
 
One-Percentage-Point Decrease
Effect on total of service and interest cost
$

 
$

Effect on postretirement benefit obligation
0.4

 
(0.3
)
Schedule of Weighted Average Allocation of Plan Assets
Pension plans have the following weighted-average asset allocations at the end of each fiscal year:
 
U.S. Plans
 
Non-U.S. Plans
 
2014
 
2013
 
2014
 
2013
Equity securities
28
%
 
42
%
 
8
%
 
7
%
Debt securities
70

 
56

 
2

 
3

Cash and cash equivalents
1

 
1

 

 

Other
1

 
1

 
90

 
90

Total
100
%
 
100
%
 
100
%
 
100
%
Schedule of Fair Value of Plan Assets
The following tables provide a summary of plan assets held by the Company's pension plans that are measured at fair value on a recurring basis at the end of fiscal 2014 and 2013:
 
 
 
Basis of Fair Value Measurement
 
Fiscal 2014
 
Quoted Prices in Active Markets for Identical Assets (Level 1)
 
Significant Other Observable Inputs
(Level 2)
 
Significant Unobservable Inputs
(Level 3)
Equity Securities:
 
 
 
 
 
 
 
U.S. small mid cap
$
16.6

 
$
16.6

 
$

 
$

U.S. large cap
50.2

 
50.2

 

 

International
39.8

 
28.7

 
11.1

 

Debt securities:
 
 
 
 
 
 
 
Diversified fixed income funds (1)
218.7

 
216.6

 
2.1

 

High yield bonds
13.0

 
13.0

 

 

Emerging market funds
9.5

 
9.5

 

 

Diversified/commingled funds

 

 

 

Insurance contracts
119.8

 

 

 
119.8

Other
6.0

 
2.6

 
3.4

 

Total
$
473.6

 
$
337.2

 
$
16.6

 
$
119.8


 
 
 
Basis of Fair Value Measurement
 
Fiscal 2013
 
Quoted Prices in Active Markets for Identical Assets (Level 1)
 
Significant Other Observable Inputs
(Level 2)
 
Significant Unobservable Inputs
(Level 3)
Equity Securities:
 
 
 
 
 
 
 
U.S. small mid cap
$
19.3

 
$
19.3

 
$

 
$

U.S. large cap
76.9

 
76.9

 

 

International
52.2

 
43.9

 
8.3

 

Debt securities:
 
 
 
 
 
 
 
Diversified fixed income funds (1)
170.0

 
166.7

 
3.3

 

High yield bonds
11.7

 
11.7

 

 

Emerging market funds
7.9

 
7.9

 

 

Insurance contracts
112.0

 

 

 
112.0

Other
6.0

 
3.1

 
2.9

 

Total
$
456.0

 
$
329.5

 
$
14.5

 
$
112.0

(1)
Diversified fixed income funds consist of U.S. Treasury bonds, mortgage-backed securities, corporate bonds, asset-backed securities and U.S. agency bonds.
Schedule of Changes in Fair Value of Plan Assets
The following table provides a summary of the changes in the fair value measurements that used significant unobservable inputs (level 3) for fiscal 2014 and 2013:
 
Insurance Contracts
Balance at September 28, 2012
$
105.1

Net unrealized gains
3.3

Net purchases, sales and issuances
(1.8
)
Currency translation
5.4

Balance at September 27, 2013
112.0

Net unrealized gains
15.5

Net purchases, sales and issuances
(0.6
)
Currency translation
(7.1
)
Balance at September 26, 2014
$
119.8

Schedule of Expected Benefit Payments
Benefit payments expected to be paid, reflecting future expected service as appropriate, are as follows:
 
Pension Benefits
 
Postretirement Benefits
Fiscal 2015
$
45.8

 
$
4.8

Fiscal 2016
34.9

 
4.5

Fiscal 2017
33.9

 
4.2

Fiscal 2018
33.4

 
4.0

Fiscal 2019
32.7

 
3.7

Fiscal 2020 - 2024
149.8

 
16.1