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Fair Value (Tables)
 12 Months Ended
Sep. 27, 2013
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 Measurement Using

 

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 at September 27, 2013:

 

 

 

 

  

 

 

 

  

 

 

 

 

 

 

 

Money market funds             

 

$

  50.0

  

  

$

-

  

  

$

-

  

 

$

  50.0

  

Corporate debt security             

 

 

-

  

  

 

-

  

  

 

  62.7

  

 

 

  62.7

  

Option to purchase a company             

 

 

-

  

  

 

-

  

  

 

  1.4

  

 

 

  1.4

  

Total assets measured at fair value             

 

$

  50.0

  

  

$

-

  

  

$

  64.1

  

 

$

  114.1

  

Liabilities at September 27, 2013:

 

 

 

 

  

 

 

 

  

 

 

 

 

 

 

 

Derivative liabilities

 

$

-

 

 

$

      (1.1

)

 

$

-

 

 

$

(1.1

)

Contingent consideration             

 

 

-

  

  

 

-

  

  

 

(2.5

)

 

 

(2.5

)

Total liabilities measured at fair value             

 

$

-

  

  

$

(1.1

) 

  

$

(2.5

)

 

$

(3.6

)

Assets at September 28, 2012:

 

 

 

 

  

 

 

 

  

 

 

 

 

 

 

 

Money market funds             

 

$

  45.7

  

  

$

-

  

  

$

-

  

 

$

  45.7

  

Corporate debt security             

 

 

-

  

  

 

-

  

  

 

  49.7

  

 

 

  49.7

  

Derivative assets             

 

 

-

  

  

 

  0.8

  

  

 

-

  

 

 

  0.8

  

Option to purchase a company             

 

 

-

  

  

 

-

  

  

 

  1.4

  

 

 

  1.4

  

Total assets measured at fair value             

 

$

  45.7

  

  

$

  0.8

  

  

$

  51.1

  

 

$

  97.6

  

Liabilities at September 28, 2012:

 

 

 

 

  

 

 

 

  

 

 

 

 

 

 

 

Contingent consideration             

 

$

-

  

  

$

-

  

  

$

(8.8

)

 

$

(8.8

)

Total liabilities measured at fair value             

 

$

-

  

  

$

-

  

  

$

(8.8

)

 

$

(8.8

)

 
Reconciliation for Assets and 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)

Corporate debt

Security

 

  

Contingent

Consideration

 

 

Option to

Purchase a

Company

 

Balance at September 28, 2012             

$

  49.7

  

  

$

(8.8

)

 

$

  1.4

  

Additions, including accrued interest             

 

  13.0

  

  

 

-

  

 

 

-

  

Settlements (1)

 

-

 

 

 

  1.1

 

 

 

-

 

Change in fair value recognized in earnings

 

-

 

 

 

  5.2

 

 

 

-

 

Balance at September 27, 2013             

$

  62.7

  

  

$

(2.5

)

 

$

  1.4