REVENUE RECOGNITION

12 Months Ended

Sep. 27, 2024

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

REVENUE RECOGNITION

Right of Return Assets and Refund Liabilities

    Right of return assets are included within the prepaid expenses and other current assets, and other assets in the Consolidated Balance Sheets. Refund liabilities are included within the accrued liabilities and other current liabilities and other long-term liabilities in the Consolidated Balance Sheets. The following tables summarize the changes in the right of return assets and refund liabilities for the twelve months ended September 27, 2024 and September 29, 2023:

(In millions)	Right of Return Assets
Balance at October 1, 2022	$	25.4
Costs recovered from product returns during the period	(5.1)
Right of return assets from shipments of products, subject to return during the period	6.8
Adjustment for actual vs. reserved product returns	(1.1)
Balance at September 29, 2023	$	26.0
Costs recovered from product returns during the period	(7.2)
Right of return assets from shipments of products, subject to return during the period	5.6
Adjustment for actual vs. reserved product returns	0.8
Balance at September 27, 2024	$	25.2

(In millions)	Refund Liabilities
Balance at October 1, 2022	$	28.2
Release of refund liability included in beginning of year refund liability	(5.6)
Additions to refund liabilities	7.5
Adjustment for actual vs. reserved product returns	(1.2)
Balance at September 29, 2023	$	28.9
Release of refund liability included in beginning of year refund liability	(8.0)
Additions to refund liabilities	6.2
Adjustment for actual vs. reserved product returns	0.9
Balance at September 27, 2024	$	28.0

    During fiscal year 2024, the Company recognized revenue of $9.9 million related to deferred revenue which existed at September 29, 2023. During fiscal year 2023, the Company recognized revenue of $6.7 million related to deferred revenue which existed at September 30, 2022.

Remaining Performance Obligations

    Remaining performance obligations represent the transaction price of firm orders for which revenue has not yet been recognized, which are primarily related to contracts where control will be transferred to customers over the next 12 months. See Note 1, Summary of Significant Accounting Policies, for details on the nature of the remaining performance obligations within these contracts and how they will be resolved.