DISCONTINUED OPERATIONS (Tables)

6 Months Ended

Mar. 31, 2017

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table summarizes the key components of net (loss) earnings from discontinued operations:

	Three Months Ended					Six Months Ended
(In millions)	March 31, 2017			April 1, 2016		March 31, 2017			April 1, 2016
Revenues	$	42.5		$	143.6	$	194.0		$	284.9
Cost of revenues	24.6			84.5		117.3			168.6
Gross margin	17.9			59.1		76.7			116.3
Operating expenses(1)	29.7			28.1		76.1			57.0
Operating (loss) earnings	(11.8		)	31.0		0.6			59.3
Taxes on earnings	1.5			11.2		7.4			22.4
Net (loss) earnings from discontinued operations	(13.3		)	19.8		(6.8		)	36.9
Less: Net earnings from discontinued operations attributable to noncontrolling interests	—			0.1		0.1			—
Net (loss) earnings from discontinued operations attributable to Varian	$	(13.3	)	$	19.7	$	(6.9	)	$	36.9

⁽¹⁾  During the three and six months ended March 31, 2017, operating expenses included separation costs of $19.3 million and $34.2 million, respectively. Separation costs include expenses for transaction advisory services, consulting services, restructuring and other expenses.

The following table summarizes the major classes of assets and liabilities of discontinued operations that were included in the Company's balance sheet:

(In millions)	March 31, 2017		September 30, 2016
Assets:
Cash and cash equivalents	$	1.5	$	32.1
Accounts receivable, net	7.4		122.2
Inventories	3.5		197.3
Prepaid expenses and other current assets	1.5		4.0
Current assets of discontinued operations	13.9		355.6
Property, plant and equipment, net	5.3		120.6
Goodwill	—		74.7
Intangible assets	—		20.6
Deferred tax assets	—		2.1
Other assets	—		54.9
Total assets of discontinued operations	$	19.2	$	628.5
Liabilities:
Accounts payable	$	3.4	$	41.9
Accrued liabilities	0.4		29.1
Deferred revenues	—		12.0
Current liabilities of discontinued operations	3.8		83.0
Other long-term liabilities	—		4.2
Total liabilities of discontinued operations	$	3.8	$	87.2
Redeemable noncontrolling interests of discontinued operations	$	—	$	10.3

The following table presents supplemental cash flow information of discontinued operations:

	Six Months Ended
(In millions)	March 31, 2017		April 1, 2016
Operating activities:
Share-based compensation expense	$	2.0	$	2.9
Depreciation expense	4.4		5.0
Amortization expense	1.8		3.0
Investing activities:
Purchases of property, plant and equipment	6.3		19.1
Sale of available-for-sale securities	$	—	$	8.6