Stockholders' Equity and Noncontrolling Interests

12 Months Ended

Sep. 30, 2016

Equity [Abstract]

Stockholders' Equity and Noncontrolling Interests

STOCKHOLDERS’ EQUITY AND NONCONTROLLING INTERESTS

Share Repurchase Program

In November 2015, the VMS Board of Directors authorized the repurchase of 8.0 million shares of VMS common stock through December 31, 2016. Share repurchases under the Company's authorizations may be made in open market purchases, in privately negotiated transactions (including accelerated share repurchase (“ASR”) programs), or under Rule 10b5-1 share repurchase plans, and may be made from time to time in one or more blocks. All shares that were repurchased under the Company's share repurchase programs have been retired.

The Company repurchased shares of VMS common stock under various authorizations during the periods presented as follows:

	Fiscal Years
(In millions, except per share amounts)	2016		2015		2014
Number of shares	5.7		4.8		7.8
Average repurchase price per share	$	81.61	$	87.47	$	80.52
Total cost	$	461.3	$	422.0	$	624.0

Included in the table above, VMS repurchased common stock under various ASR agreements during the periods presented as follows:

	Fiscal Years
(In millions, except per share amounts)	2016		2015		2014
Number of shares	1.0		2.3		—
Average repurchase price per share	$	83.98	$	90.00	$	—
Total cost	$	85.8	$	203.9	$	—

As of September 30, 2016, approximately 3.8 million shares of VMS common stock remained available for repurchase under the November 2015 authorization. In November 2016, the VMS Board of Directors authorized the repurchase of additional 8.0 million shares of VMS common stock commencing on January 1, 2017.

Accumulated Other Comprehensive Loss

(In millions)	Net Unrealized Gains (Losses) Defined Benefit Pension and Post-Retirement Benefit Plans			Net Unrealized Gains (Losses) Cash Flow Hedging Instruments			Net Unrealized Gains (Losses) Available-for- Sale Securities			Cumulative Translation Adjustment			Accumulated Other Comprehensive Earnings (Loss)
Balance at September 27, 2013	$	(40.1	)	$	(0.7	)	$	—		$	0.7		$	(40.1	)
Other comprehensive earnings (loss) before reclassifications	(5.4		)	3.9			—			(16.2		)	(17.7		)
Amounts reclassified out of other comprehensive loss	2.3			(1.3		)	—			—			1.0
Tax expense	(0.9		)	(0.9		)	—			—			(1.8		)
Balance at September 26, 2014	(44.1		)	1.0			—			(15.5		)	(58.6		)
Other comprehensive earnings (loss) before reclassifications	(4.5		)	2.2			(0.2		)	(24.8		)	(27.3		)
Amounts reclassified out of other comprehensive loss	2.1			(3.8		)	—			—			(1.7		)
Tax benefit	0.4			0.6			0.1			—			1.1
Balance at October 2, 2015	(46.1		)	—			(0.1		)	(40.3		)	(86.5		)
Other comprehensive earnings (loss) before reclassifications	(23.4		)	(1.0		)	(0.4		)	2.8			(22.0		)
Amounts reclassified out of other comprehensive loss	2.4			1.0			0.6			—			4.0
Tax benefit (expense)	3.8			—			(0.1		)	—			3.7
Balance at September 30, 2016	$	(63.3	)	$	—		$	—		$	(37.5	)	$	(100.8	)

The amounts reclassified out of other comprehensive earnings into the Consolidated Statements of Earnings, with line item location, during each period were as follows (in millions): 

	Fiscal Years
Comprehensive Earnings Components	2016			2015			2014			Line Item in Statements of Earnings
Unrealized losses on defined benefit pension and post-retirement benefit plans	$	(2.4	)	$	(2.1	)	$	(2.3	)	Cost of revenues & Operating expenses
Unrealized gains and (losses) on cash flow hedging instruments	(1.0		)	3.8			1.3			Revenues
Unrealized loss on available-for-sale investments	(0.6		)	—			—			Operating expenses
Total amounts reclassified out of other comprehensive loss	$	(4.0	)	$	1.7		$	(1.0	)

Noncontrolling Interests

In April 2015, the Company completed the acquisition of 73.5% of the then outstanding shares of MeVis Medical Solutions AG ("MeVis"), a public company based in Bremen, Germany that provides image processing software and services for cancer screening. See Note 15, "Business Combinations" for additional information.

In August 2015, the Company, through one of its German subsidiaries, entered into a domination and profit and loss transfer agreement (the “DPLTA”) with MeVis. In October 2015, the DPLTA became effective upon its registration at the local court of Bremen, Germany. Under the DPLTA, MeVis subordinates its management to the Company and undertakes to transfer all of its annual profits and losses to the Company. In return, the DPLTA grants the noncontrolling shareholders of MeVis: (1) an annual recurring net compensation of €0.95 per MeVis share starting from January 1, 2015 and (2) a put right for their MeVis shares at €19.77 per MeVis share. Upon effectiveness of the DPLTA, the noncontrolling interests in MeVis became redeemable as a result of the put right and were reclassified to temporary equity. As of September 30, 2016, the redemption value of redeemable noncontrolling interests in MeVis was $10.3 million.

During fiscal year 2016, an immaterial number of MeVis' shares were purchased under the put right. As of September 30, 2016, noncontrolling shareholders together held approximately 0.5 million shares of MeVis, representing 26.4% of the outstanding shares.

Changes in noncontrolling interests and redeemable noncontrolling interests relating to MeVis and other subsidiaries of the Company were as follows:

	Fiscal Years
	2016						2015
(In millions)	Noncontrolling Interests			Redeemable Noncontrolling Interests			Noncontrolling Interests		Redeemable Noncontrolling Interests
Balance at beginning of period	$	14.7		$	—		$	—	$	—
Net earnings (loss) attributable to noncontrolling interests	(0.1		)	0.5			0.5		—
Acquisition of Mevis	—			—			10.2		—
Capital contribution from noncontrolling interest holders	—			—			4.0		—
Reclassification of noncontrolling interests in MeVis to redeemable noncontrolling interests	(10.4		)	10.4			—		—
Other	(0.5		)	(0.6		)	—		—
Balance at end of period	$	3.7		$	10.3		$	14.7	$	—