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PA Consulting Redeemable Noncontrolling Interests
 12 Months Ended
Sep. 26, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
PA Consulting Redeemable Noncontrolling Interests PA Consulting Redeemable Noncontrolling Interests
In connection with the Company's strategic investment in PA Consulting, the Company recorded redeemable noncontrolling interests, including subsequent purchase accounting adjustments, representing the noncontrolling interest holders' equity interests in the form of preferred and common shares of PA Consulting, with substantially all of the value associated with these interests allocable to the preferred shares. PA Consulting is accounted for as a consolidated subsidiary and as a separate operating segment.
During fiscal 2025, 2024, and 2023, the Company repurchased certain shares of the redeemable noncontrolling interest holders for $10.4 million, $55.3 million, and $92.9 million respectively, in cash and issued certain shares of redeemable noncontrolling interest holders in fiscal 2024 and 2023 for $19.8 million, and $34.0 million, respectively. The difference between the cash purchase prices and the recorded book values of these repurchased and issued interests was recorded in the Company’s consolidated retained earnings. The Company held 71% and 70% of the outstanding ownership of PA Consulting as of September 26, 2025 and September 27, 2024, respectively.
For the years ended, 2025 and 2024 there was a $0.0 and $0.10 charge to earnings per share, respectively, resulting from adjustments to the redeemable noncontrolling interests to reflect the excess of redemption values over fair values of the B common shares component of the redeemable noncontrolling interests. Additionally, for the years ended, 2025 and 2024 there was a $0.01 and $0.02 increase in earnings per share, respectively, resulting from redemption value adjustments associated with redeemable noncontrolling interests preference share repurchase and reissuance activities that were recorded.
The foregoing results had no impact on the Company’s overall results of operations, financial position or cash flows. See Note 4- Earnings Per Share and Certain Related Information.
Changes in the Company's redeemable noncontrolling interests during the fiscal years ended September 26, 2025 and September 27, 2024 were as follows (in thousands):
September 26, 2025September 27, 2024
Redeemable noncontrolling interest at the beginning of the year
$820,182 $632,979 
Accrued Preferred Dividend to Preference Shareholders81,713 73,033 
Attribution of Preferred Dividend to Common Shareholders(81,713)(73,033)
Net earnings attributable to redeemable noncontrolling interest to Common Shareholders11,177 14,999 
Redeemable Noncontrolling interests redemption value adjustment 199,763 171,142 
Repurchase of redeemable noncontrolling interests(13,999)(62,867)
Issuance of redeemable noncontrolling interests— 22,586 
Cumulative translation adjustment and other1,571 41,343 
Redeemable noncontrolling interest at the end of the year
$1,018,694 $820,182 
In addition, certain employees and nonemployees of PA Consulting are eligible to receive equity-based incentive grants since the March 2, 2021 original investment date. Under the terms of the applicable agreements, 40% of these grants are subject to time-based vesting and have reached fully vested status as of July 2025. The Company has accrued liabilities associated with the vested grants at fair value in the amounts of $103.8 million and $28.4 million reported in Other deferred liabilities in our Consolidated Balance Sheets as of September 26, 2025 and September 27, 2024, respectively. Also, during the years ended September 26, 2025 and September 27, 2024, the Company recorded approximately $75.3 million and $13.4 million, respectively, in expense associated with these agreements which is reflected in selling, general and administrative expenses in the consolidated statements of earnings. As of September 26, 2025, there was approximately $142.1 million of total unrecognized compensation cost related to the remaining 60% of fair value of such grants anticipated to vest upon a liquidity event, as defined in the applicable agreements. This cost is expected to be recognized in Selling, general and administrative expenses when such a liquidity event is considered probable, which could occur in 2026.
Restricted Cash
The Company, through its investment in PA Consulting, held $1.4 million and $2.1 million at September 26, 2025 and September 27, 2024, respectively, in cash that is restricted from general use and is included in prepaid expenses and other current assets on the Consolidated Balance Sheets.