XML 38 R26.htm IDEA: XBRL DOCUMENT v3.21.4
Related Party Transactions
3 Months Ended
Jan. 01, 2022
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure Related Party TransactionsJohn Scannell, Moog's Chairman of the Board of Directors and Chief Executive Officer, is a member of the Board of Directors of M&T Bank Corporation and M&T Bank. We currently engage with M&T Bank in the ordinary course of business for various financing activities, all of which were initiated prior to the election of Mr. Scannell to the Board. M&T Bank provides credit extension for routine purchases, which for the three months ended January 1, 2022 and January 2, 2021 totaled $3,643 and $3,429, respectively. At January 1, 2022, we held outstanding leases with a total original cost of $21,144. At January 1, 2022, outstanding deposits on our behalf for future equipment leases totaled $1,615. M&T Bank also maintains an interest of approximately 12% in our U.S. revolving credit facility. Further details of the U.S. revolving credit facility can be found in Note 9, Indebtedness. Wilmington Trust, a subsidiary of M&T Bank, is the trustee of the pension assets for our qualified U.S. defined benefit plan.