Fair Value

12 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

FAIR VALUE

.    FAIR VALUE

Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis

The Company measures certain assets and liabilities at fair value on a recurring basis such as its financial instruments. There have been no transfers between Level 1, 2, or 3 assets or liabilities during fiscal 2022.

Assets and liabilities recorded at fair value on a recurring basis consisted of the following (in millions):

	As of September 30, 2022								As of October 1, 2021
			Fair Value Measurements								Fair Value Measurements
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets
Cash and cash equivalents (1)	$	566.0	$	565.7	$	0.3	$	—	$	882.9	$	882.9	$	—	$	—
U.S. Treasury and government securities	13.6		3.6		10.0		—		13.6		2.6		11.0		—
Corporate bonds and notes	0.2		—		0.2		—		117.0		—		117.0		—
Municipal bonds	7.0		—		7.0		—		13.7		—		13.7		—
Total assets at fair value	$	586.8	$	569.3	$	17.5	$	—	$	1,027.2	$	885.5	$	141.7	$	—

(1) Cash equivalents included in Levels 1 and 2 consist of money market funds and corporate bonds and notes, commercial paper, and agency securities purchased with less than ninety days until maturity.

Assets Measured and Recorded at Fair Value on a Nonrecurring Basis

The Company’s non-financial assets and liabilities, such as goodwill, intangible assets, and other long-lived assets resulting from business combinations, are measured at fair value using income approach valuation methodologies at the date of acquisition and are subsequently re-measured if there are indicators of impairment. During fiscal 2022, the Company recorded impairment charges of $20.7 million primarily related to the abandonment of two previously capitalized IPR&D projects. During the fiscal years ended October 1, 2021, and October 2, 2020, the Company recorded impairment charges of $7.1 million and $11.8 million, respectively.