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FAIR VALUE
 12 Months Ended
Sep. 27, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE FAIR VALUE
Assets/Liabilities Measured at Fair Value on a Recurring Basis
    The fair values of certain of the Company’s financial instruments, including bank deposits included in cash and cash equivalents, accounts receivable, net and accounts payable, approximate their fair values due to their short maturities. As of September 27, 2024, the fair value of the Company's Convertible Notes and Senior Secured Notes, as defined in Note 9, Borrowings and measured using Level 1 inputs, were $197.7 million and $247.6 million, respectively. As of September 29, 2023, the fair values of the Company's Convertible Notes and Senior Secured Notes, measured using Level 1 inputs, were $228.4 million and $243.6 million, respectively. The Company has elected to use the income approach to value its derivative instruments using standard valuation techniques and Level 2 inputs, such as currency spot rates, forward points and credit default swap spreads.
    In the tables below, the Company has segregated all assets and liabilities that are measured at fair value on a recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date.
Fair Value Measurements at September 27, 2024
(In millions)
Quoted Prices in Active Markets
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Total
Assets:
Money market funds$— $24.4 $— $24.4 
Corporate notes/bonds— 16.5 — 16.5 
Government agencies— 18.3 — 18.3 
US treasury bills— 6.1 — 6.1 
Certificates of deposit— 0.9 — 0.9 
Derivative assets
— 1.0 — 1.0 
Deferred compensation plan(1)
7.5 — — 7.5 
Marketable equity securities2.6 — — 2.6 
Total assets measured at fair value$10.1 $67.2 $— $77.3 
Liabilities:
Derivative liabilities
$— $8.6 $— $8.6 
Total liabilities measured at fair value$— $8.6 $— $8.6 
(1) The assets held under the Company’s deferred compensation plan are classified in Level 1 as they relate primarily to publicly traded mutual funds for which there are observable market prices in active markets.
Fair Value Measurements at September 29, 2023
(In millions)
Quoted Prices in Active Markets
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Total
Assets:
Money market funds$— $45.4 $— $45.4 
Commercial paper— 6.0 — 6.0 
Corporate notes/bonds— 8.3 — 8.3 
Government agencies— 6.6 — 6.6 
US treasury bills— 28.6 — 28.6 
Derivative assets— 0.7 — 0.7 
Deferred compensation plan(1)
6.3 — — 6.3 
Marketable equity securities4.1 — — 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.
Nonrecurring Fair Value Measurements
    In fiscal year 2023, the Company assessed its equity method investment in dpiX Holding for impairment and concluded that the carrying value of the investment was greater than its fair value. The nonrecurring fair value measurements used by the Company to impair its equity method investment in dpiX Holding was calculated by equal weighting of the income approach based on estimated discounted future cash flows and the market approach based on comparable publicly traded companies in similar lines of businesses. Under the income approach, fair value is determined based on a discounted cash flow technique that uses estimates of cash flows discounted to present value using rates commensurate with the risks associated with those cash flows. Under the market approach, a market-based value is derived by relating multiples for earnings and cash flow measures for a group of comparable public companies to the same measure for each reporting unit to estimate fair value. This valuation resulted in a Level 3 nonrecurring fair value measurement. See Note 1, Summary of Significant Accounting Policies, for details on the nature of the impairment.
Marketable Debt Securities
    The following is a summary of marketable debt securities, which are included within the cash and cash equivalents, marketable securities, and other assets balances on the Consolidated Balance Sheets.
September 27, 2024
(In millions)Amortized CostsUnrealized GainsFair Value
Corporate notes/bonds$16.4 $0.1 $16.5 
US treasury bills6.1 — 6.1 
Government agencies18.3 — 18.3 
Certificates of deposit0.9 — 0.9 
Total marketable debt securities$41.7 $0.1 $41.8 
    The following table summarizes the marketable debt securities on the Consolidated Balance Sheets as of September 29, 2023.
September 29, 2023
(In millions)Amortized CostsFair Value
Commercial paper$6.0 $6.0 
Corporate notes/bonds8.3 8.3 
US treasury bills28.6 28.6 
Government agencies6.6 6.6 
Total marketable debt securities$49.5 $49.5 
    The contractual maturities of marketable debt securities as of September 27, 2024, are shown in the table below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations.
September 27, 2024
(In millions)Amortized CostsFair Value
Contractual maturities:
Due within one year$32.8 $32.8 
Due after one year through five years8.9 9.0 
Total marketable debt securities$41.7 $41.8 
    During the twelve months ended September 27, 2024, there were no gross realized gains or losses from the sale of certain marketable debt securities that were reclassified out of accumulated other comprehensive loss.
    The following tables summarizes the balance sheet locations for marketable debt securities:
September 27, 2024
(In millions)Commercial PaperCorporate Notes/BondsGovernment AgenciesTreasury BillsCertificates of DepositTotal
Cash and cash equivalents$— $— $— $1.0 $— $1.0 
Marketable securities— 10.5 16.3 4.1 0.9 31.8 
Other assets— 6.0 2.0 1.0 — 9.0 
Total marketable debt securities$— $16.5 $18.3 $6.1 $0.9 $41.8 
September 29, 2023
(In millions)Commercial PaperCorporate Notes/BondsGovernment AgenciesTreasury BillsTotal
Cash and cash equivalents$6.0 $— $— $2.2 $8.2 
Marketable securities— 8.3 6.6 26.4 41.3 
Total marketable debt securities$6.0 $8.3 $6.6 $28.6 $49.5