Goodwill and Intangible Assets

12 Months Ended

Oct. 02, 2026

Intangible Asset, Goodwill and Other [Abstract]

7. GOODWILL AND INTANGIBLE ASSETS

The Company’s goodwill balance was $2,176.7 million as of each of October 2, 2026, and October 3, 2025. In fiscal 2026, the Company performed an impairment test of its goodwill and its indefinite-lived intangible assets as of the first day of the fourth fiscal quarter in accordance with its regularly scheduled testing. The results of these tests indicated that the Company’s goodwill was not impaired. Refer to Note 4 of this Annual Report on Form 10-K for a discussion of IPR&D impairments of $2.8 million and $146.7 million in fiscal 2026 and fiscal 2024, respectively. There were no indicators of IPR&D impairment noted in fiscal 2025.

Intangible assets consist of the following (in millions):


		As of
	Weighted Average Amortization Period (Years)	October 2, 2026						October 3, 2025
		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Developed technology and other	6.4	$	1,396.5	$	(819.3)	$	577.2	$	1,396.5	$	(678.5)	$	718.0
Technology licenses	3.2	107.5		(51.0)		56.5		167.0		(78.8)		88.2
In-process research and development		—		—		—		2.8		—		2.8
Total intangible assets		$	1,504.0	$	(870.3)	$	633.7	$	1,566.3	$	(757.3)	$	809.0

Fully amortized intangible assets are eliminated from both the gross and accumulated amortization amounts in the first quarter of each fiscal year. There were no transfers of IPR&D assets to definite-lived intangible assets in fiscal 2026. During fiscal 2025, $32.6 million of IPR&D assets were transferred to definite-lived intangible assets and are being amortized over their useful lives of eight years. During fiscal 2024, $89.1 million of IPR&D assets were transferred to definite-lived intangible assets, of which $33.4 million is being amortized over their useful lives of twelve years and $55.7 million is being amortized over their useful lives of eight years. Amortization expense related to definite-lived intangible assets was $173.4 million, $184.3 million, and $186.5 million during fiscal 2026, fiscal 2025, and fiscal 2024, respectively, primarily recorded within cost of goods sold.

Annual amortization expense for the next five fiscal years related to definite-lived intangible assets is expected to be as follows (in millions):


	2027		2028		2029		2030		2031		Thereafter
Amortization expense	$	159.7	$	124.7	$	91.1	$	83.2	$	66.3	$	108.7