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EMPLOYEE STOCK PLANS (Tables)
 9 Months Ended
Jun. 29, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-Based Compensation Expense
The table below summarizes the share-based compensation expense recognized for employee stock awards and employee stock purchase plan shares:
 
Three Months Ended
 
Nine Months Ended
(In millions)
June 29,
2018
 
June 30,
2017
 
June 29,
2018
 
June 30,
2017
Cost of revenues - Product
$
0.8

 
$
0.7

 
$
2.3

 
$
2.3

Cost of revenues - Service
1.1

 
1.0

 
3.1

 
3.1

Research and development
1.2

 
1.3

 
3.6

 
3.9

Selling, general and administrative
10.2

 
6.1

 
25.5

 
21.4

Total share-based compensation expense
$
13.3

 
$
9.1

 
$
34.5

 
$
30.7

Income tax benefit for share-based compensation
$
(3.0
)
 
$
(2.7
)
 
$
(7.7
)
 
$
(9.1
)
Fair Value of Employee Stock Option Plans With Weighted Average Assumptions
The fair value of options granted was estimated at the date of grant using the Black-Scholes model with the following weighted average assumptions: 
 
Three Months Ended
 
Nine Months Ended
 
June 29,
2018
 
June 30,
2017
 
June 29,
2018
 
June 30,
2017
Employee Stock Option Plans
 
 
 
 
 
 
 
Expected term (in years)
3.85

 
3.99

 
3.83

 
3.99

Risk-free interest rate
2.8
%
 
1.6
%
 
2.2
%
 
1.7
%
Expected volatility
21.0
%
 
17.6
%
 
19.0
%
 
21.3
%
Expected dividend
—
%
 
—
%
 
—
%
 
—
%
Weighted average fair value at grant date
$
24.93

 
$
15.93

 
$
20.82

 
$
16.11
Option Component of ESPP Shares with Weighted Average Assumptions
The option component of employee stock purchase plan shares was estimated at the date of grant using the Black-Scholes model with the following weighted average assumptions: 
 
Three Months Ended
 
Nine Months Ended
 
June 29,
2018
 
June 30,
2017
 
June 29,
2018
 
June 30,
2017
Employee Stock Purchase Plan
 
 
 
 
 
 
 
Expected term (in years)
0.50

 
0.50

 
0.50

 
0.50

Risk-free interest rate
2.0
%
 
1.0
%
 
1.6
%
 
0.7
%
Expected volatility
32.9
%
 
18.2
%
 
25.2
%
 
20.3
%
Expected dividend
—
%
 
—
%
 
—
%
 
—
%
Weighted average fair value at grant date
$
28.41

 
$
18.42

 
$
24.56

 
$
18.92
Summary of Share-Based Awards Available for Grant
A summary of share-based awards available for grant is as follows:
(In millions)
Shares Available for Grant
Balance at September 29, 2017
2.5

Authorized (1)
6.0

Granted
(1.8
)
Cancelled or expired
0.4

Balance at June 29, 2018
7.1


(1) 
On February 8, 2018, the Company's stockholders approved its Fifth Amended and Restated 2005 Omnibus Stock Plan ("2005 Plan") to increase the number of shares authorized for issuance by 6.0 million shares.
Activity Under Employee Stock Plans
Activity under the Company’s employee stock plans related to stock options is presented below: 
 
Options Outstanding
(In millions, except per share amounts)
Number of
Shares
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Term (in years)
 
Aggregate
Intrinsic
Value (1)
Balance at September 29, 2017
2.3

 
$
74.08

 
 
 
 
Granted
0.6

 
111.57

 
 
 
 
Cancelled or expired (2)
—

 
81.43

 
 
 
 
Exercised
(0.6
)
 
70.97

 
 
 
 
Balance at June 29, 2018
2.3

 
$
85.33

 
4.9
 
$
66.4

 
 
 
 
 
 
 
 
Exercisable at June 29, 2018
1.2

 
$
74.00

 
3.9
 
$
46.0


(1) 
The aggregate intrinsic value represents the total pre-tax intrinsic value, which is computed based on the difference between the exercise price and the closing price of VMS common stock of $113.72 as of June 29, 2018, the last trading date of the third quarter of fiscal year 2018, and which represents the amount that would have been received by the option holders had all option holders exercised their options and sold the shares received upon exercise as of that date.
(2) 
The cancelled and expired shares were not material for disclosure.
Activity for Restricted Stock, Restricted Stock Units, Deferred Stock Units and Performance Units
The activity for restricted stock, restricted stock units, deferred stock units and performance units is summarized as follows:
(In millions, except per share amounts)
Number of
Shares
 
Weighted Average
Grant-Date Fair
Value
Balance at September 29, 2017
0.9

 
$
75.37

Granted
0.3

 
111.93

Vested
(0.3
)
 
76.61

Cancelled or expired
(0.1
)
 
86.13

Balance at June 29, 2018
0.8

 
$
88.79