OTHER FINANCIAL INFORMATION

3 Months Ended

Jan. 03, 2020

Other Financial Information [Abstract]

Contracts with Customers

The following table provides the Company's unbilled receivables and deferred revenues from contracts with customers:


(In millions)	January 3, 2020		September 27, 2019
Unbilled receivables - current	$	315.8	$	346.7
Unbilled receivables - long-term ⁽¹⁾	42.7		35.1


Deferred revenues - current	(817.9)		(766.0)
Deferred revenues - long-term ⁽²⁾	(78.9)		(73.1)
Total net unbilled receivables (deferred revenues)	$	(538.3)	$	(457.3)

⁽¹⁾Included in other assets on the Company's Condensed Consolidated Balance Sheets.

⁽²⁾Included in other long-term liabilities on the Company's Condensed Consolidated Balance Sheets.

During the three months ended January 3, 2020, unbilled receivables decreased by $23.3 million, primarily due to the timing of billings in Oncology Systems, and deferred revenues increased by $57.7 million primarily due to the contractual timing of billings occurring before the revenues were recognized.

During the three months ended January 3, 2020 and December 28, 2018, the Company recognized revenues of $314.5 million, and $263.4 million, which were included in the deferred revenues balances at September 27, 2019 and September 28, 2018, respectively.

Unfulfilled Performance Obligations

The following table represents the Company's unfulfilled performance obligations as of January 3, 2020, and the estimated revenues expected to be recognized in the future related to these unfulfilled performance obligations:


	Fiscal Years of Revenue Recognition
(In millions)	Remainder of 2020		2021		2022		Thereafter
Unfulfilled Performance Obligations	$	1,884.1	$	2,003.2	$	787.7	$	2,122.9

The table above includes both product and service unfulfilled performance obligations, which includes a component of service performance obligations that have not been invoiced. The fiscal years presented reflect management’s best estimate of when the Company will transfer control to the customer and may change based on timing of shipment, readiness of customers’ facilities for installation, installation requirements, and availability of products or customer acceptance terms.

Cash, Cash Equivalents, and Restricted Cash

The following table summarizes the Company's cash, cash equivalents and restricted cash:


(In millions)	January 3, 2020		September 27, 2019
Cash and cash equivalents	$	721.9	$	531.4
Restricted cash - current ⁽¹⁾	3.7		4.2
Restricted cash - long-term ⁽²⁾	16.6		8.5
Total cash, cash equivalents, and restricted cash	$	742.2	$	544.1

⁽¹⁾Included in prepaid expenses and other current assets on the Company's Condensed Consolidated Balance Sheets.

⁽²⁾Included in other assets on the Company's Condensed Consolidated Balance Sheets.

Inventories

The following table summarizes the Company's inventories:


(In millions)	January 3, 2020		September 27, 2019

Raw materials and parts	$	399.8	$	376.5
Work-in-process	75.6		71.8
Finished goods	122.0		103.2
Total inventories	$	597.4	$	551.5

Other Long-Term Liabilities

The following table summarizes the Company's other long-term liabilities:


(In millions)	January 3, 2020		September 27, 2019
Income taxes payable	$	180.8	$	180.3

Deferred income taxes	78.1		75.3
Deferred revenues	78.9		73.1

Contingent consideration	42.5		42.3
Defined benefit pension plan	30.4		31.1
Other	42.6		38.0
Total other long-term liabilities	$	453.3	$	440.1

Other Income, Net

The following table summarizes the Company's other income, net:


	Three Months Ended
(In millions)	January 3, 2020		December 28, 2018
Gain on equity investments	$	1.4	$	22.0

Net foreign currency exchange gain	2.4		1.3
Other income (loss)	0.6		(0.3)
Total other income, net	$	4.4	$	23.0