Fair Value (Tables)

12 Months Ended

Oct. 02, 2020

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on a 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 October 2, 2020
Type of Instruments	Quoted Prices in Active Markets for Identical Instruments (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Balance
(In millions)
Assets:
Cash equivalents:
Money market funds	$	148.0	$	—	$	—	$	148.0
Equity investments	—		54.6		—		54.6
Available-for- sale securities:
MPTC Series B-1 Bonds	—		18.9		—		18.9
MPTC Series B-2 Bonds	—		20.6		—		20.6
APTC securities	—		5.4		—		5.4
Total assets measured at fair value	$	148.0	$	99.5	$	—	$	247.5
Liabilities:
Derivative liabilities	$	—	$	(0.1)	$	—	$	(0.1)
Contingent consideration	—		—		(43.1)		(43.1)
Total liabilities measured at fair value	$	—	$	(0.1)	$	(43.1)	$	(43.2)

Reconciliation for Assets Measured and Recorded at Fair Value on Recurring Basis; Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

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

(In millions)	Contingent Consideration
Balance at September 28, 2018	$	(24.4)
Additions	(45.4)
Measurement period adjustment to a business combination in prior year	11.6
Foreign exchange	0.5
Settlements	1.0
Change in fair value recognized in earnings	(18.6)
Balance at September 27, 2019	(75.3)
Additions	(8.9)
Settlements	41.4
Foreign exchange	(0.6)
Change in fair value recognized in earnings	0.3
Balance at October 2, 2020	$	(43.1)

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

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

(In millions)	Contingent Consideration
Balance at September 28, 2018	$	(24.4)
Additions	(45.4)
Measurement period adjustment to a business combination in prior year	11.6
Foreign exchange	0.5
Settlements	1.0
Change in fair value recognized in earnings	(18.6)
Balance at September 27, 2019	(75.3)
Additions	(8.9)
Settlements	41.4
Foreign exchange	(0.6)
Change in fair value recognized in earnings	0.3
Balance at October 2, 2020	$	(43.1)