FAIR VALUE (Tables)

6 Months Ended

Apr. 03, 2020

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

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 April 3, 2020
	Quoted Prices in Active Markets for Identical Instruments		Significant Other Observable Inputs		Significant Unobservable Inputs		Total
Type of Instruments	(Level 1)		(Level 2)		(Level 3)		Balance
(In millions)
Assets:
Cash equivalents:
Money market funds	$	100.0	$	—	$	—	$	100.0
Available-for-sale securities:
MPTC Series B-1 Bonds	—		28.1		—		28.1
MPTC Series B-2 Bonds	—		26.2		—		26.2
APTC securities	—		6.1		—		6.1
Derivative assets	—		3.4		—		3.4
Total assets measured at fair value	$	100.0	$	63.8	$	—	$	163.8
Liabilities:
Contingent consideration	$	—	$	—	$	(75.0)	$	(75.0)
Total liabilities measured at fair value	$	—	$	—	$	(75.0)	$	(75.0)

	Fair Value Measurements at September 27, 2019
	Quoted Prices in Active Markets for Identical Instruments		Significant Other Observable Inputs		Significant Unobservable Inputs		Total
Type of Instruments	(Level 1)		(Level 2)		(Level 3)		Balance
(In millions)
Assets:
Cash equivalents:
Money market funds	$	0.2	$	—	$	—	$	0.2
Available-for-sale securities:
MPTC Series B-1 Bonds	—		27.1		—		27.1
MPTC Series B-2 Bonds	—		25.1		—		25.1
APTC securities	—		6.6		—		6.6
Derivative assets	—		2.8		—		2.8
Total assets measured at fair value	$	0.2	$	61.6	$	—	$	61.8
Liabilities:
Contingent consideration	$	—	$	—	$	(75.3)	$	(75.3)
Total liabilities measured at fair value	$	—	$	—	$	(75.3)	$	(75.3)

Reconciliation for Assets Measured and Recorded at Fair Value on Recurring Basis

The following table presents the reconciliation for liabilities measured and recorded at fair value on a recurring basis using significant unobservable inputs (Level 3):

(In millions)	Contingent Consideration
Balance at September 27, 2019	$	(75.3)
Adjustments due to the effect of foreign exchange	0.2
Change in fair value recognized in earnings	0.1
Balance at April 3, 2020	$	(75.0)