Financing Receivables and Allowance for Credit Losses

12 Months Ended

Sep. 26, 2014

Receivables [Abstract]

Financing Receivables and Allowance for Credit Losses

4. FINANCING RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES

A financing receivable represents a financing arrangement with a contractual right to receive money, on demand or on fixed or determinable dates, and that is recognized as an asset on the Company’s Consolidated Balance Sheets. The Company’s financing receivables, includes accounts receivable and notes receivable with contractual maturities of more than one year.

The Company’s financing receivables, consisting of its accounts receivable with contractual maturities of more than one year are presented in the following table:

	September 26,			September 27,			September 28,
(In millions)	2014			2013			2012
Accounts receivable with contractual maturities of more than one year:
Gross amount	$	35.4		$	28.0		$	29.9
Allowance for doubtful accounts		(3.0	)		(3.0	)		(3.0	)
Net amount	$	32.4		$	25.0		$	26.9
Amount past due	$	3.7		$	3.1		$	4.3

There was no significant activity in the allowance for doubtful financing receivable accounts during fiscal years 2014, 2013, and 2012.The Company’s notes receivable with contractual maturities of more than one year was $15.0 million at September 26, 2014. The Company did not have any notes receivable with contractual maturities of more than one year at September 27, 2013.