DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Jun. 30, 2017

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

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

	Three Months Ended (1)		Nine Months Ended
(In millions)	July 1, 2016		June 30, 2017			July 1, 2016
Revenues	$	146.5	$	194.0		$	431.4
Cost of revenues	83.6		117.3			252.2
Gross margin	62.9		76.7			179.2
Operating expenses(2)	34.5		76.1			91.5
Operating earnings	28.4		0.6			87.7
Taxes on earnings	11.4		7.4			33.8
Net earnings (loss) from discontinued operations	17.0		(6.8		)	53.9
Less: Net earnings from discontinued operations attributable to noncontrolling interests	0.2		0.1			0.2
Net earnings (loss) from discontinued operations attributable to Varian	$	16.8	$	(6.9	)	$	53.7

⁽¹⁾  There was no activity in net earnings (loss) from discontinued operations during the three months ended June 30, 2017.

⁽²⁾  Operating expenses included separation costs of $34.2 million during the nine months ended June 30, 2017 and $5.4 million during the three and nine months ended July 1, 2016. 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)	June 30, 2017		September 30, 2016
Assets:
Cash and cash equivalents	$	1.8	$	32.1
Accounts receivable, net	8.2		122.2
Inventories	5.5		197.3
Prepaid expenses and other current assets	3.4		4.0
Current assets of discontinued operations	18.9		355.6
Property, plant and equipment, net	5.1		120.6
Goodwill	—		74.7
Intangible assets	—		20.6
Deferred tax assets	—		2.1
Other assets	—		54.9
Total assets of discontinued operations	$	24.0	$	628.5
Liabilities:
Accounts payable	$	5.8	$	41.9
Accrued liabilities	1.2		29.1
Deferred revenues	—		12.0
Current liabilities of discontinued operations	7.0		83.0
Other long-term liabilities	—		4.2
Total liabilities of discontinued operations	$	7.0	$	87.2
Redeemable noncontrolling interests of discontinued operations	$	—	$	10.3

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

	Nine Months Ended
(In millions)	June 30, 2017			July 1, 2016
Operating activities:
Share-based compensation expense	$	2.0		$	4.4
Depreciation expense	4.8			7.6
Amortization expense	1.8			4.2
Investing activities:
Purchases of property, plant and equipment	(6.4		)	(24.2		)
Sale of available-for-sale securities	—			8.6
Acquisition of business, net of cash acquired	$	—		$	(1.2	)