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Quarterly Financial Data (Unaudited)
 12 Months Ended
Sep. 28, 2018
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data
QUARTERLY FINANCIAL DATA (UNAUDITED) 
 
 
Fiscal Year 2018
(In millions, except per share amounts)
 
First
Quarter (1)
 
Second
Quarter (2)
 
Third
Quarter (3)
 
Fourth
Quarter (4)
 
Total
Year
Total revenues
 
$
678.5

 
$
729.9

 
$
709.1

 
$
801.6

 
$
2,919.1

Gross margin
 
$
302.8

 
$
318.5

 
$
313.6

 
$
338.7

 
$
1,273.6

Net (loss) earnings from continuing operations
 
$
(112.2
)
 
$
73.2

 
$
72.5

 
$
116.8

 
$
150.3

Net (loss) earnings attributable to Varian
 
$
(112.3
)
 
$
73.2

 
$
72.6

 
$
116.4

 
$
149.9

 
 
 
 
 
 
 
 
 
 
 
Net (loss) earnings per share - basic
 
$
(1.22
)
 
$
0.80

 
$
0.79

 
$
1.27

 
$
1.64

Net (loss) earnings per share - diluted
 
$
(1.22
)
 
$
0.79

 
$
0.79

 
$
1.26

 
$
1.62

 
 
 
 
 
 
 
 
 
 
 
 
 
Fiscal Year 2017
(In millions, except per share amounts)
 
First
Quarter (5)
 
Second
Quarter 
 
Third
Quarter
 
Fourth
Quarter (6)
 
Total
Year
Total revenues
 
$
601.5

 
$
663.2

 
$
632.8

 
$
721.8

 
$
2,619.3

Gross margin
 
$
267.0

 
$
275.6

 
$
265.5

 
$
305.8

 
$
1,113.9

Net earnings from continuing operations
 
$
8.0

 
$
69.5

 
$
69.9

 
$
78.6

 
$
226.0

Net earnings (loss) from discontinued operations
 
$
6.5

 
$
(13.3
)
 
$
—

 
$
—

 
$
(6.8
)
Net earnings attributable to Varian
 
$
13.9

 
$
56.3

 
$
69.7

 
$
78.6

 
$
218.5

Net earnings (loss) per share attributable to Varian – basic:
 
 
 
 
 
 
 
 
 
 
Continuing operations
 
$
0.08

 
$
0.75

 
$
0.76

 
$
0.86

 
$
2.44

Discontinued operations
 
0.07

 
(0.15
)
 
—

 
—

 
(0.08
)
Net earnings (loss) per share - basic
 
$
0.15

 
$
0.60

 
$
0.76

 
$
0.86

 
$
2.36

Net earnings (loss) per share attributable to Varian – diluted:
 
 
 
 
 
 
 
 
 
 
Continuing operations
 
$
0.08

 
$
0.74

 
$
0.75

 
$
0.85

 
$
2.42

Discontinued operations
 
0.07

 
(0.14
)
 
—

 
—

 
(0.07
)
Net earnings (loss) per share - diluted
 
$
0.15

 
$
0.60

 
$
0.75

 
$
0.85

 
$
2.35



(1) 
In the first quarter of fiscal year 2018, net earnings from continuing operations includes a $207.1 million income tax expense related to the tax effect of a change in law related to the Act.
(2) 
In the second quarter of fiscal year 2018, net earnings from continuing operations includes a $16.4 million loss related to hedging the anticipated Australian dollar purchase price for Sirtex and an $11.1 million impairment charge related to our MPTC subordinated loan.
(3) 
In the third quarter of fiscal year 2018, net earnings from continuing operations includes a $13.3 million loss related to hedging the anticipated Australian dollar purchase price of the Sirtex acquisition, an $11.0 million impairment charge related to our MPTC subordinated loan, acquisition costs of $8.4 million, partially offset by the net $9.0 million breakup fee received from Sirtex in connection with the termination of the acquisition.
(4) 
In the fourth quarter of fiscal year 2018, net earnings from continuing operations includes a $8.0 million benefit to income tax expense due to the partial release of a valuation allowance as the result of an acquisition and a $7.1 million benefit to income tax expense related to the Act.
(5) 
In the first quarter of fiscal year 2017, net earnings from continuing operations includes a $38.3 million impairment charge related to its Original CPTC Loans and a $37.8 million allowance for doubtful accounts from CPTC and another proton center.
(6) 
In the fourth quarter of fiscal year 2017, net earnings from continuing operations includes a $13.1 million impairment charge related to its Original CPTC loans.