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Debt
 12 Months Ended
Oct. 02, 2026
Debt Disclosure [Abstract]  
DEBT
16.    DEBT

Debt consists of the following (in millions, except percentages):
Effective Interest RateAs of
October 2, 2026October 3, 2025
1.80% Senior Notes due 2026— %$— $500.0 
5.00% Senior Notes due 20285.39 %800.0 — 
3.00% Senior Notes due 20313.13 %500.0 500.0 
5.75% Senior Notes due 20325.92 %600.0 — 
6.25% Senior Notes due 20366.47 %600.0 — 
Unamortized debt discount and issuance costs (27.2)(4.2)
Total debt2,472.8 995.8 
Less: current portion of long-term debt— (499.4)
Total long-term debt
$2,472.8 $496.4 

Senior Notes
On August 10, 2026, the Company issued $800.0 million of its 5.00% Senior Notes due 2028 (the “2028 Notes”), $600.0 million of its 5.75% Senior Notes due 2032 (the “2032 Notes”), and $600.0 million of its 6.25% Senior Notes due 2036 (the “2036 Notes”).

On May 26, 2021, the Company issued $500.0 million of its 1.80% Senior Notes due 2026 (the “2026 Notes”) and $500.0 million of its 3.00% Senior Notes due 2031 (the “2031 Notes” and, collectively with the 2026 Notes, the 2028 Notes, the 2032 Notes, and the 2036 Notes, the “Notes”). During fiscal 2026, the Company repaid $500.0 million of the 2026 Notes at maturity.
The Notes are senior unsecured obligations of the Company and rank equally in right of payment with all of the Company’s existing and future senior unsecured debt, but effectively junior to any of the Company’s senior secured debt to the extent of the value of collateral securing such debt, and are structurally subordinated to all existing and future obligations of the Company’s subsidiaries. The Notes will mature on their respective maturity dates, unless earlier redeemed in accordance with their terms. Interest on the 2028 Notes and the 2036 Notes is payable on February 10 and August 10 of each year. Interest on the 2031 Notes is payable on June 1 and December 1 of each year. Interest on the 2032 Notes is payable on January 10 and July 10 of each year.

The Company may redeem all or a portion of the Notes at any time and from time to time prior to maturity, in whole or in part, for cash at the applicable redemption prices set forth in the respective supplemental indentures. If the Company undergoes a change of control repurchase event, as defined in the indentures governing the Notes (as supplemented, the “Indentures”), holders may require the Company to repurchase the Notes in whole or in part for cash at a price equal to 101% of the principal amount to be purchased, plus any accrued and unpaid interest. As of October 2, 2026, the Company considered the likelihood of acceleration related to the Notes and recorded the Notes as long-term debt. The Notes are recorded net of discount and issuance costs, which are amortized to interest expense over the respective terms of these borrowings.

The Indentures contain customary events of default, including failure to make required payments of principal and interest, certain events of bankruptcy and insolvency, and default in the performance or breach of any covenant or warranty contained in the Indentures or the Notes. As of October 2, 2026, the Company was in compliance with all debt covenants under the Notes.

Subsequent to the end of fiscal 2026, the Company assumed Qorvo’s outstanding senior unsecured notes. See Note 17 of this Annual Report on Form 10-K for additional information.

Term Credit Agreement
On May 21, 2021, the Company entered into a term credit agreement (as amended, the “Term Credit Agreement”) providing for a $1.0 billion term loan facility (the “Term Loan Facility”). On July 26, 2021, the Company borrowed $1.0 billion in aggregate principal amount of term loans (the “Term Loans”) under the Term Loan Facility to finance a portion of the purchase price for the acquisition of the Infrastructure and Automotive business of Silicon Laboratories Inc. and to pay fees and expenses incurred in connection therewith. During fiscal 2024, the Company repaid $300.0 million of outstanding borrowings under the Term Loans. The Term Credit Agreement expired on July 26, 2024.

Revolving Credit Agreement
On May 21, 2021, the Company entered into a revolving credit agreement (as amended, the “Revolving Credit Agreement”) providing for a $750.0 million revolving credit facility (the “Revolver”). The proceeds of the Revolver are available to be used for general corporate purposes and working capital needs of the Company and its subsidiaries, and was partially utilized subsequent to period-end.

The Revolver provides for revolving credit borrowings and letters of credit, with sublimits for letters of credit. The Revolver may be increased in specified circumstances by up to $250.0 million at the discretion of the lenders.

On March 6, 2023, the Company entered into a First Amendment to the Revolving Credit Agreement to replace the LIBOR-based interest rate and related LIBOR-based mechanics applicable to borrowings under the Revolving Credit Agreement with a SOFR-based interest rate and related SOFR-based mechanics. On November 18, 2025, the Company entered into a Second Amendment to the Revolving Credit Agreement (the “Second Revolving Credit Agreement Amendment”). Pursuant to the terms of the Second Revolving Credit Agreement Amendment, the parties thereto agreed to extend the maturity date of the Revolving Credit Agreement to November 18, 2030.
The Revolving Credit Agreement contains customary representations and warranties and covenants, including restrictions on the incurrence of indebtedness by non-guarantor subsidiaries and the creation of liens, and a financial covenant consisting of a limitation on leverage, defined as consolidated total indebtedness divided by consolidated earnings before interest, taxes, depreciation, and amortization for the period of four consecutive quarters not to exceed a ratio of 3.0 to 1.0. As of October 2, 2026, there were no borrowings outstanding and the Company was in compliance with all debt covenants under the Revolver.