XML 27 R11.htm IDEA: XBRL DOCUMENT v3.20.2
Other Financial Information
 12 Months Ended
Oct. 02, 2020
Other Financial Information [Abstract]  
Other Financial Information OTHER FINANCIAL INFORMATION
Contracts with Customers
The following table provides the Company's unbilled receivables and deferred revenues from contracts with customers:
October 2,September 27,
(In millions)20202019
Unbilled receivables - current$306.2 $346.7 
Unbilled receivables - long-term (1)
68.6 35.1 
Deferred revenues - current(782.2)(766.0)
Deferred revenues - long-term (2)
(68.5)(73.1)
Total net unbilled receivables (deferred revenues)$(475.9)$(457.3)
(1)Included in other assets on the Company's Consolidated Balance Sheets.
(2)Included in other long-term liabilities on the Company's Consolidated Balance Sheets.
During fiscal year 2020, unbilled receivables decreased by $7.0 million, primarily due to the timing of triggering billing milestones in Proton Solutions and timing of payments in Oncology Systems, and deferred revenues increased by $11.6 million, primarily due to the contractual timing of billings occurring before the revenues were recognized.
During fiscal year 2020, the Company recognized revenues of $663.1 million, which was included in the deferred revenues balance as of September 27, 2019. During fiscal year 2019, the Company recognized revenues of $619.2 million, which was included in the deferred revenues balance as of September 28, 2018.
Unfulfilled Performance Obligations
The following table represents the Company's unfulfilled performance obligations as of October 2, 2020, and the estimated revenue expected to be recognized in the future related to these unfulfilled performance obligations:
Fiscal years of revenue recognition
(In millions)202120222023Thereafter
Unfulfilled performance obligations$2,340.8 $1,664.1 $713.2 $2,244.2 
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:
October 2,September 27,
(In millions)20202019
Cash and cash equivalents$766.1 $531.4 
Restricted cash - current (1)
10.2 4.2 
Restricted cash - long-term (2)
9.5 8.5 
  Total cash, cash equivalents, and restricted cash$785.8 $544.1 
(1)Included in prepaid expenses and other current assets on the Company's Consolidated Balance Sheets.
(2)Included in other assets on the Company's Consolidated Balance Sheets.
Inventories
The following table summarizes the Company's inventories:
 October 2,September 27,
(In millions)20202019
Raw materials and parts$322.9 $376.5 
Work-in-process82.0 71.8 
Finished goods111.4 103.2 
Total inventories$516.3 $551.5 

Prepaid Expenses and Other Current Assets
The following table summarizes the Company's prepaid expenses and other current assets:
October 2,September 27,
(In millions)20202019
Prepaid income taxes $50.0 $51.1 
Prepaid sales taxes16.9 21.0 
Prepaid compensation16.1 13.7 
Advance payments to suppliers13.8 15.3 
Equity investments34.4 — 
California Proton Therapy Center ("CPTC") Loans11.8 5.3 
Other current receivables49.2 41.9 
Other prepaid expenses62.6 57.9 
Total prepaid expenses and other current assets$254.8 $206.2 
(1)Represents the fair value of equity investments that went public in fiscal year 2020. See Note 4, "Fair Value,", for more information.
Property, Plant and Equipment, net
The following table summarizes the Company's property, plant and equipment, net:
 October 2,September 27,
(In millions)20202019
Land and land improvements$44.4 $44.2 
Buildings and leasehold improvements264.1 242.5 
Machinery and equipment490.4 456.2 
Construction in progress49.9 42.9 
Finance leases11.5 — 
 860.3 785.8 
Accumulated depreciation and amortization(515.4)(474.3)
Total property, plant and equipment, net$344.9 $311.5 
Other Assets
The following table summarizes the Company's other assets:
 October 2,September 27,
(In millions)
20202019
Long-term receivables$110.3 $74.3 
Deferred Compensation Plan ("DCP") assets82.3 79.0 
Equity investments88.4 64.2 
Available-for-sale securities44.6 58.2 
CPTC Term loan— 44.0 
RPTC senior secured debt25.2 23.5 
Other65.5 54.0 
Total other assets$416.3 $397.2 
Accrued Liabilities
The following table summarizes the Company's accrued liabilities:
 October 2,September 27,
(In millions)20202019
Accrued compensation and benefits$188.4 $161.9 
DCP liabilities76.0 75.0 
Product warranty35.4 40.0 
Income taxes payable28.8 39.8 
Contingent consideration17.4 33.0 
Lease liabilities30.6 — 
Other145.8 109.8 
Total accrued liabilities$522.4 $459.5 
Other Long-Term Liabilities
The following table summarizes the Company's other long-term liabilities:
 October 2,September 27,
(In millions)20202019
Income taxes payable$170.8 $180.3 
Deferred revenues68.5 73.1 
Deferred income taxes101.2 75.3 
Contingent consideration25.7 42.3 
Defined benefit pension plans19.8 31.1 
Other35.8 38.0 
Total other long-term liabilities$421.8 $440.1 
Other Income, Net
The following table summarizes the Company's other income, net:
Fiscal Years
(In millions)202020192018
Gain on equity investments, net$41.9 $23.8 $— 
Foreign currency exchange gain (loss)(5.5)4.2 2.6 
Other2.3 0.3 1.6 
Total other income, net$38.7 $28.3 $4.2