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HOLX Hologic

Cover Page

Cover Page - shares3 Months Ended
Dec. 26, 2020Jan. 21, 2021
Cover [Abstract]
Title of 12(b) SecurityCommon Stock, $0.01 par value
Document Transition Reportfalse
Document Quarterly Reporttrue
Entity Incorporation, State or Country CodeDE
Entity Address, Postal Zip Code01752
Entity File Number1-36214
Document Type10-Q
Amendment Flagfalse
Document Period End DateDec. 26,
2020
Document Fiscal Year Focus2021
Document Fiscal Period FocusQ1
Entity Registrant NameHOLOGIC, INC
Entity Central Index Key0000859737
Current Fiscal Year End Date--09-28
Entity Filer CategoryLarge Accelerated Filer
Entity Emerging Growth Companyfalse
Entity Small Businessfalse
Entity Common Stock, Shares Outstanding257,661,792
Entity Shell Companyfalse
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
City Area Code(508)
Local Phone Number263-2900
Entity Tax Identification Number04-2902449
Entity Address, Address Line One250 Campus Drive,
Entity Address, City or TownMarlborough,
Entity Address, State or ProvinceMA
Trading SymbolHOLX
Security Exchange NameNASDAQ

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands3 Months Ended
Dec. 26, 2020Dec. 28, 2019
Revenues:
Product $ 1,455,400,000 $ 699,300,000
Service and other154,400,000 151,200,000
Revenues1,609,800,000 850,500,000
Costs of revenues:
Product284,500,000 237,500,000
Amortization, Cost of Goods Sold61,600,000 63,600,000
Impairment of intangible assets and equipment0 25,800,000
Service and other83,300,000 89,800,000
Gross profit1,180,400,000 433,800,000
Operating expenses:
Research and development59,300,000 61,200,000
Selling and marketing128,000,000 144,900,000
General and administrative91,500,000 87,600,000
Amortization of acquired intangible assets10,100,000 9,100,000
Impairment of intangible assets and equipment0 4,400,000
Contingent consideration fair value adjustments4,600,000 900,000
Restructuring and divestiture charges1,400,000 900,000
Operating expenses294,900,000 309,000,000
Income from operations885,500,000 124,800,000
Interest income400,000 2,100,000
Interest expense(28,100,000)(32,800,000)
Debt extinguishment loss(21,600,000)0
Other income (expense), net(3,800,000)3,300,000
Income before income taxes832,400,000 97,400,000
Provision (benefit) for income taxes179,000,000 (288,400,000)
Net income653,400,000 385,800,000
Net loss attributable to noncontrolling interest(1,000,000)(300,000)
Net income attributable to Hologic $ 654,400,000 $ 386,100,000
Net income per common share attributable to Hologic:
Basic (in usd per share) $ 2.53 $ 1.44
Diluted (in usd per share) $ 2.50 $ 1.43
Weighted average number of shares outstanding:
Basic (in shares)258,605 267,893
Diluted (in shares)261,785 269,721

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Millions3 Months Ended
Dec. 26, 2020Dec. 28, 2019
Statement of Comprehensive Income [Abstract]
Net income $ 653.4 $ 385.8
Changes in foreign currency translation adjustment17.8 8.3
Changes in value of hedged interest rate swaps and interest rate caps, net of tax of $(0.2) for the three months ended December 26, 2020 and $1.7 for the three months ended December 28,2019.0.7 4
Loss reclassified from accumulated other comprehensive loss to the statements of income0.5 1.3
Other comprehensive income19 13.6
Comprehensive income672.4 399.4
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest1 0.3
Comprehensive Income $ 673.4 $ 399.7

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($) $ in Millions3 Months Ended
Dec. 26, 2020Dec. 28, 2019
Statement of Comprehensive Income [Abstract]
Change in value of hedged interest rate swap and interest rate cap, tax $ (0.2) $ 1.7

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in MillionsDec. 26, 2020Sep. 26, 2020
Current assets:
Cash less assets held for sale $ 868.7 $ 701
Accounts receivable, less reserves of $39.4 and $31.6, respectively1,216.1 1,028.9
Inventories420.2 395.1
Prepaid Income Taxes-Current29.9 38.8
Prepaid expenses and other current assets61.4 58.5
Total current assets2,596.3 2,222.3
Property, plant and equipment, net514.5 491.5
Intangible assets, net1,244.8 1,307.5
Goodwill2,663.3 2,657.9
Other assets531.8 516.6
Total assets7,550.7 7,195.8
Current liabilities:
Current portion of long-term debt74.9 324.9
Accounts payable184.3 178.8
Accrued expenses611.9 547.6
Deferred revenue182.9 186.1
Current portion of capital lease obligations2 1.9
Total current liabilities1,056 1,239.3
Long-term debt, net of current portion2,689.5 2,713.9
Finance lease obligation - long term16.8 17.4
Deferred Income Tax Liabilities, Net189.4 201.8
Deferred revenue12.5 12.9
Other long-term liabilities317.5 303.2
Stockholders’ equity:
Preferred stock, $0.01 par value – 1,623 shares authorized; 0 shares issued0 0
Common stock, $0.01 par value –750,000 shares authorized; 296,533 and 295,107 shares issued, respectively3 2.9
Additional paid-in-capital5,895.3 5,904.8
Accumulated deficit(918.8)(1,573.2)
Treasury stock, at cost – 39,078 and 37,609 shares, respectively(1,680.9)(1,579.6)
Accumulated other comprehensive loss(30.7)(49.7)
Total Hologic's stockholders’ equity3,267.9 2,705.2
Stockholders' Equity Attributable to Noncontrolling Interest1.1 2.1
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest3,269 2,707.3
Total liabilities and stockholders’ equity $ 7,550.7 $ 7,195.8

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in MillionsDec. 26, 2020Sep. 26, 2020
Statement of Financial Position [Abstract]
Accounts receivable, reserves $ 39.4 $ 31.6
Preferred stock, par value (in dollars per share) $ 10,000 $ 10,000
Preferred stock, authorized (in shares)1,623,000,000 1,623,000,000
Preferred stock, issued (in shares)0 0
Common stock, par value (in dollars per share) $ 10,000 $ 10,000
Common stock, authorized (in shares)750,000,000,000 750,000,000,000
Common stock, issued (in shares)296,533,000,000 295,107,000,000
Treasury stock (in shares)39,078,000,000 37,609,000,000

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in ThousandsTotalCommon StockAdditional Paid-in CapitalRetained EarningsTotalTreasury StockShare Repurchase ProgramTreasury Stock
Redeemable Noncontrolling Interest, Equity, Other, Carrying Amount $ 0
Noncontrolling Interest, Increase from Business Combination8,600,000
Balance (in shares) at Sep. 28, 2019292,323 24,638
Beginning balance at Sep. 28, 20192,115,700,000 $ 2,900,000 $ 5,769,800,000 $ (2,688,700,000) $ (42,300,000) $ (926,000,000)
Beginning balance (Accounting Standards Update 2018-01 [Member]) at Sep. 28, 2019300,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)540
Exercise of stock options13,800,000
Vesting of restricted stock units, net of shares withheld for employee taxes ( in shares)476
Vesting of restricted stock units, net of shares withheld for employee taxes(10,900,000)
Stock-based compensation expense18,100,000
Net income385,800,000
Other comprehensive income activity13,600,000
Repurchase of common stock (in shares)1,545 3,279
Repurchase of common stock(80,900,000) $ (80,900,000) $ 164,000,000
Accelerated share repurchase agreement $ (41,000,000)
Balance (in shares) at Dec. 28, 2019293,339 29,462
Ending balance at Dec. 28, 2019 $ 2,900,000 5,749,800,000 (2,302,300,000)(28,700,000) $ (1,170,900,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss attributable to noncontrolling interest(300,000)
Net income386,100,000
Accelerated share repurchase agreement(205,000,000)
Payments to Noncontrolling Interests(1,400,000)
Redeemable Noncontrolling Interest, Equity, Other, Carrying Amount6,900,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest2,257,700,000
Exercise of stock options (in shares)503
Exercise of stock options13,900,000
Vesting of restricted stock units, net of shares withheld for employee taxes ( in shares)86
Vesting of restricted stock units, net of shares withheld for employee taxes(1,600,000)
Common stock issued under the employee stock purchase plan (in shares)214
Common stock issued under the employee stock purchase plan8,800,000
Stock-based compensation expense15,700,000
Net income94,800,000
Other comprehensive income activity(30,200,000)
Repurchase of common stock (in shares)5,851 628
Repurchase of common stock $ (267,600,000) $ 41,000,000
Accelerated share repurchase agreement $ 41,000,000
Balance (in shares) at Mar. 28, 2020294,142 35,941
Ending balance at Mar. 28, 2020 $ 2,900,000 5,827,600,000 (2,206,000,000)(58,900,000) $ (1,479,500,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss attributable to noncontrolling interest(1,500,000)
Net income96,300,000
Accelerated share repurchase agreement0
Payments to Noncontrolling Interests(300,000)
Redeemable Noncontrolling Interest, Equity, Other, Carrying Amount5,100,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest2,091,200,000
Exercise of stock options (in shares)533
Exercise of stock options14,400,000
Vesting of restricted stock units, net of shares withheld for employee taxes ( in shares)9
Vesting of restricted stock units, net of shares withheld for employee taxes(200,000)
Stock-based compensation expense19,900,000
Net income136,400,000
Other comprehensive income activity(3,000,000)
Balance (in shares) at Jun. 27, 2020294,684 35,941
Ending balance at Jun. 27, 2020 $ 2,900,000 5,861,700,000 (2,068,100,000)(61,900,000) $ (1,479,500,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss attributable to noncontrolling interest(1,500,000)
Net income137,900,000
Payments to Noncontrolling Interests(100,000)
Redeemable Noncontrolling Interest, Equity, Other, Carrying Amount3,500,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest2,258,600,000
Exercise of stock options (in shares)185
Exercise of stock options6,200,000
Vesting of restricted stock units, net of shares withheld for employee taxes ( in shares)40
Vesting of restricted stock units, net of shares withheld for employee taxes(1,500,000)
Common stock issued under the employee stock purchase plan (in shares)198
Common stock issued under the employee stock purchase plan8,800,000
Stock-based compensation expense29,600,000
Net income493,500,000
Other comprehensive income activity12,200,000
Repurchase of common stock (in shares)1,668
Repurchase of common stock $ (100,100,000)
Balance (in shares) at Sep. 26, 2020295,107 37,609
Ending balance at Sep. 26, 20202,705,200,000 $ 2,900,000 5,904,800,000 (1,573,200,000)(49,700,000) $ (1,579,600,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss attributable to noncontrolling interest(1,400,000)
Net income494,900,000
Redeemable Noncontrolling Interest, Equity, Other, Carrying Amount2,100,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest2,707,300,000
Exercise of stock options (in shares)490
Exercise of stock options18,400,000
Change in par value100,000
Vesting of restricted stock units, net of shares withheld for employee taxes ( in shares)936
Vesting of restricted stock units, net of shares withheld for employee taxes(46,400,000)(46,500,000)
Stock-based compensation expense18,600,000
Net income653,400,000
Other comprehensive income activity19,000,000
Repurchase of common stock (in shares)1,469
Repurchase of common stock(101,300,000) $ (101,300,000)
Balance (in shares) at Dec. 26, 2020296,533 39,078
Ending balance at Dec. 26, 20203,267,900,000 $ 3,000,000 $ 5,895,300,000 $ (918,800,000) $ (30,700,000) $ (1,680,900,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss attributable to noncontrolling interest(1,000,000)
Net income654,400,000
Payments to Noncontrolling Interests0
Redeemable Noncontrolling Interest, Equity, Other, Carrying Amount1,100,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest $ 3,269,000,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)3 Months Ended
Dec. 26, 2020Dec. 28, 2019
OPERATING ACTIVITIES
Net income $ 653,400,000 $ 385,800,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation21,100,000 21,600,000
Amortization of acquired intangibles71,700,000 72,800,000
Stock-based compensation expense18,600,000 18,100,000
Deferred income taxes(12,000,000)(327,900,000)
Intangible asset and equipment impairment charges0 30,200,000
Debt extinguishment loss21,600,000 0
Other adjustments and non-cash items29,500,000 500,000
Changes in operating assets and liabilities, excluding the effect of acquisitions:
Accounts receivable(175,500,000)17,600,000
Inventories(21,200,000)(14,900,000)
Prepaid income taxes8,900,000 1,000,000
Prepaid expenses and other assets(18,300,000)(2,600,000)
Accounts payable4,600,000 (55,400,000)
Accrued expenses and other liabilities58,100,000 (22,600,000)
Deferred revenue(10,500,000)(10,300,000)
Net cash provided by operating activities650,000,000 113,900,000
INVESTING ACTIVITIES
Acquisition of businesses, net of cash acquired(4,900,000)(11,800,000)
Capital expenditures(32,400,000)(11,400,000)
Increase in equipment under customer usage agreements(12,400,000)(20,100,000)
Purchase of insurance contracts0 2,400,000
Other activity(200,000)0
Net cash used in investing activities(49,900,000)(45,700,000)
FINANCING ACTIVITIES
Repayment of long-term debt(18,800,000)(9,400,000)
Proceeds from Notes Payable950,000,000 0
Repayments of Senior Debt(970,800,000)0
Repayment under revolving credit line(250,000,000)0
Proceeds from accounts receivable securitization agreement0 16,000,000
Payments to Noncontrolling Interests0 (1,400,000)
Payment of deferred acquisition consideration0 (16,600,000)
Payment of debt issuance costs(13,700,000)0
Repurchase of common stock(101,300,000)(285,900,000)
Proceeds from issuance of common stock pursuant to employee stock plans23,300,000 18,700,000
Payment of minimum tax withholdings on net share settlements of equity awards(46,400,000)(10,900,000)
Payments under finance lease obligations(500,000)(400,000)
Net cash used in financing activities(428,200,000)(289,900,000)
Effect of exchange rate changes on cash and cash equivalents(4,200,000)1,400,000
Net increase (decrease) in cash and cash equivalents167,700,000 (220,300,000)
Cash and cash equivalents, beginning of period701,000,000 601,800,000
Cash and cash equivalents, end of period $ 868,700,000 $ 381,500,000

Basis of Presentation

Basis of Presentation3 Months Ended
Sep. 26, 2020
Basis of Presentation [Abstract]
Basis of PresentationBasis of Presentation The consolidated financial statements of Hologic, Inc. (“Hologic” or the “Company”) presented herein have been prepared pursuant to the rules of the Securities and Exchange Commission (the “SEC”) for quarterly reports on Form 10-Q and do not include all of the information and disclosures required by U.S. generally accepted accounting principles (“GAAP”) for annual financial statements. These financial statements should be read in conjunction with the consolidated financial statements and related notes for the fiscal year ended September 26, 2020 included in the Company’s Form 10-K filed with the SEC on November 17, 2020. In the opinion of management, the financial statements and notes contain all adjustments (consisting of normal recurring accruals and all other necessary adjustments) considered necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the periods presented. The consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. The preparation of financial statements in conformity with GAAP requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from management’s estimates if past experience or other assumptions do not turn out to be substantially accurate. Operating results for the three months ended December 26, 2020 are not necessarily indicative of the results to be expected for any other interim period or the entire fiscal year ending September 25, 2021. Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments – Credit Losses (Topic 326) . The purpose of ASU 2016-13 is to replace the current incurred loss impairment methodology for financial assets measured at amortized cost with a methodology that reflects expected credit losses over the lifetime of the financial asset. As a result, credit losses are recorded when financial assets are established if credit losses are expected over the asset's contractual life. The measurement of expected credit losses is based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. The Company adopted the standard during the first quarter of fiscal 2021. The adoption of ASU 2016-13 did not have a material effect on the Company's consolidated financial statements. See Note 5 for additional information. In November 2019, the FASB issued ASU No. 2019-08, Compensation - Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606) . The guidance identifies, evaluates, and improves areas of GAAP for which cost and complexity can be reduced while maintaining or improving the usefulness of the information provided. The amendments in that Update expanded the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. The Company adopted the standard in the first quarter of fiscal 2021. The adoption of ASU 2019-08 did not have a material effect on the Company's financial statements. Subsequent Events Consideration The Company considers events or transactions that occur after the balance sheet date but prior to the issuance of the financial statements to provide additional evidence for certain estimates or to identify matters that may require additional disclosure. Subsequent events have been evaluated as required. There were no material recognized subsequent events affecting the unaudited consolidated financial statements as of and for the three months ended December 26, 2020. There were two unrecognized subsequent events related to the acquisitions of Somatex Medical Technologies GmbH ("Somatex") and Biotheranostics, Inc. ("Biotheranostics"). On December 30, 2020, the Company completed the acquisition of Somatex for a purchase price of approximately $64.0 million. Somatex, located in Germany, is a manufacturer of biopsy site markers, including the Tumark product line of tissue markers, which were distributed by the Company in the U.S. prior to the acquisition. On January 5, 2021, the Company announced that it had entered into an agreement to acquire Biotheranostics for a purchase price of approximately $230.0 million. The closing is subject to certain regulatory approvals. Biotheranostics, located in San Diego, California, manufactures molecular diagnostic tests for breast and metastatic cancers.

Leases

Leases3 Months Ended
Dec. 26, 2020
Leases [Abstract]
LeasesLeasesLessor Activity - Leases where Hologic is the LessorCertain assets, primarily diagnostics instruments, are leased to customers under contractual arrangements that typically include an operating or sales-type lease as well as performance obligations for reagents and other consumables. These contractual arrangements are subject to termination provisions which are evaluated in determining the lease term for lease accounting purposes. Sales-type leases are immaterial. Contract terms vary by customer and may include options to terminate the contract or options to extend the contract. Where instruments are provided under operating lease arrangements, some portion or the entire lease revenue may be variable and subject to subsequent non-lease component (e.g., reagent) sales. The allocation of revenue between the lease and non-lease components is based on stand-alone selling prices. Lease revenue represented approximately 2% and 3% of the Company’s consolidated revenue for the three months ended December 26, 2020 and December 28, 2019, respectively.
LeasesLeasesLessor Activity - Leases where Hologic is the LessorCertain assets, primarily diagnostics instruments, are leased to customers under contractual arrangements that typically include an operating or sales-type lease as well as performance obligations for reagents and other consumables. These contractual arrangements are subject to termination provisions which are evaluated in determining the lease term for lease accounting purposes. Sales-type leases are immaterial. Contract terms vary by customer and may include options to terminate the contract or options to extend the contract. Where instruments are provided under operating lease arrangements, some portion or the entire lease revenue may be variable and subject to subsequent non-lease component (e.g., reagent) sales. The allocation of revenue between the lease and non-lease components is based on stand-alone selling prices. Lease revenue represented approximately 2% and 3% of the Company’s consolidated revenue for the three months ended December 26, 2020 and December 28, 2019, respectively.

Fair Value Measurements

Fair Value Measurements3 Months Ended
Dec. 26, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]Fair Value Measurements Assets/Liabilities Measured and Recorded at Fair Value on a Recurring Basis The Company has investments in derivative instruments comprised of interest rate caps, an interest rate swap, forward foreign currency contracts and foreign currency option contracts, which are valued using analyses obtained from independent third party valuation specialists based on market observable inputs, representing Level 2 assets. The fair values of these derivative contracts represent the estimated amounts the Company would receive or pay to terminate the contracts. Refer to Note 9 for further discussion and information on derivative instruments. Assets and liabilities measured and recorded at fair value on a recurring basis consisted of the following at December 26, 2020: Fair Value at Reporting Date Using Balance as of December 26, 2020 Quoted Prices in Significant Significant Assets: Foreign currency option contracts $ 0.8 $ — $ 0.8 $ — Total $ 0.8 $ — $ 0.8 $ — Liabilities: Contingent consideration $ 86.4 $ — $ — $ 86.4 Interest rate swap 30.7 — 30.7 — Forward foreign currency contracts 6.0 — 6.0 — Total $ 123.1 $ — $ 36.7 $ 86.4 Liabilities Measured and Recorded at Fair Value on a Recurring Basis Changes in the fair value of recurring fair value measurements using significant unobservable inputs (Level 3), which solely consisted of contingent consideration liabilities, during the three month periods ended December 26, 2020 and December 28, 2019 were as follows: Three Month Ended December 26, 2020 December 28, 2019 Balance at beginning of period $ 81.8 $ 9.1 Contingent consideration recorded at acquisition — — Fair value adjustments 4.6 0.9 Payments/Accruals — — Balance at end of period $ 86.4 $ 10.0 Assets Measured and Recorded at Fair Value on a Nonrecurring Basis The Company remeasures the fair value of certain assets and liabilities upon the occurrence of certain events. Such assets are comprised of equity investments and long-lived assets, including property, plant and equipment, intangible assets and goodwill. There were no such remeasurements to equity investments in the three months ended December 26, 2020 and December 28, 2019. During the first quarter of fiscal 2020, the Company's Medical Aesthetics division met the criteria to be classified as assets-held-for sale, and the Company recorded a $30.2 million loss to record the asset group at its fair value less costs to sell. This is a level 1 measurement. See Note 7 for additional information. Disclosure of Fair Value of Financial Instruments The Company’s financial instruments mainly consist of cash and cash equivalents, accounts receivable, cost-method equity investments, interest rate caps, an interest rate swap, forward foreign currency contracts, foreign currency option contracts, insurance contracts, accounts payable and debt obligations. The carrying amounts of the Company’s cash and cash equivalents, accounts receivable and accounts payable approximate their fair value due to the short-term nature of these instruments. The Company’s interest rate caps, interest rate swap, forward foreign currency contracts and foreign currency option contracts are recorded at fair value. The carrying amount of the insurance contracts are recorded at the cash surrender value, as required by GAAP, which approximates fair value. The Company believes the carrying amounts of its cost-method equity investments approximate fair value.

Business Combinations

Business Combinations3 Months Ended
Dec. 26, 2020
Business Combinations [Abstract]
Business CombinationsBusiness Combinations NXC Imaging On September 28, 2020, the Company completed the acquisition of assets from NXC Imaging, for a purchase price of $4.9 million. NXC Imaging was a long-standing distributor of the Company's Breast and Skeletal products in the U.S. Based on the Company's preliminary valuation, the majority of the purchase price was allocated to a customer relationships intangible asset with a useful life of 5 years. The allocation of the purchase price is preliminary as the Company continues to gather information supporting the acquired assets and liabilities. Acessa Health On August 23, 2020, the Company completed the acquisition of Acessa Health, Inc. ("Acessa") for a purchase price of $161.3 million, which included a hold-back of $3.0 million that was paid in January 2021, and contingent consideration, which the Company estimated the fair value to be $81.8 million as of the measurement date. Acessa, located in Austin, Texas, manufactures and markets its ProVu system, a laparoscopic radio frequency ablation system for use in treatment of uterine fibroids. Acessa's results of operations are reported in the Company's GYN Surgical reportable segment from the date of acquisition. The contingent payments are based on a multiple of annual incremental revenue growth over a three-year period ending annually in December. There is no maximum earnout. Pursuant to ASC 805, Business Combinations , the Company recorded its estimate of the fair value of the contingent consideration liability utilizing the Monte Carlo simulation based on future revenue projections of Acessa, comparable companies revenue growth rates, implied volatility and applying a risk adjusted discount rate. Each quarter the Company will be required to remeasure the fair value of the liability as assumptions change and such adjustments will be recorded in operating expenses. This fair value measurement was based on significant inputs not observable in the market and thus represented a Level 3 measurement as defined in ASC 820, Fair Value Measurements . This fair value measurement is directly impacted by the Company's estimate of future incremental revenue growth of the business. Accordingly, if actual revenue growth is higher or lower than the estimates within the fair value measurement, the Company would record additional charges or benefits, respectively. In the first quarter of fiscal 2021, the Company remeasured the contingent consideration liability and recorded a charge of $4.6 million to record the liability at fair value as of December 26, 2020. The total purchase price was allocated to Acessa's preliminary tangible and identifiable intangible assets and liabilities based on the estimated fair values as of August 23, 2020, as set forth below. Cash $ 1.2 Inventory $ 4.0 Other assets $ 4.4 Identifiable intangible assets: Developed technology $ 127.0 Trade names $ 1.2 Accounts payable and accrued expenses $ (4.7) Deferred income taxes, net $ (20.2) Goodwill $ 48.4 Purchase Price $ 161.3 In performing the preliminary purchase price allocation, the Company considered, among other factors, the intended future use of acquired assets, analysis of historical financial performance and estimates of future performance of Acessa's business. The allocation of the purchase price is preliminary as the Company continues to gather information supporting the acquired assets and liabilities, primarily taxes. As part of the preliminary purchase price allocation, the Company determined the identifiable intangible assets are developed technology and trade names. The preliminary fair value of the intangible assets was estimated using the income approach, and the cash flow projections were discounted using a 18.0% rate. The cash flows were based on estimates used to price the transaction, and the discount rate applied was benchmarked with reference to the implied rate of return from the transaction model and the weighted average cost of capital. The weighted average life of developed technology and trade names is 10 years. The preliminary calculation of the excess of the purchase price over the estimated fair value of the tangible net assets and intangible assets acquired was recorded to goodwill. The factors contributing to the recognition of the preliminary amount of goodwill were based on synergistic benefits of Acessa's products being complementary to the GYN Surgical portfolio of products and utilizing the GYN Surgical's sales force to drive adoption and revenue growth. None of the goodwill is expected to be deductible for income tax purposes. Health Beacons On February 3, 2020, the Company completed the acquisition of Health Beacons, Inc. ("Health Beacons"), for a purchase price of $19.7 million, which included hold-backs of $2.3 million that are payable up to eighteen months from the date of acquisition. Health Beacons manufactures the LOCalizer product. Based on the Company's preliminary valuation, it allocated $10.7 million of the purchase price to the preliminary value of developed technology and $6.2 million to goodwill. The remaining $2.8 million of the purchase price was allocated to acquired tangible assets and liabilities. The allocation of the purchase price is preliminary as the Company continues to gather information supporting the acquired assets and liabilities. Health Beacons' results of operations are reported in the Company's Breast Health reportable segment from the date of acquisition. Alpha Imaging On December 30, 2019, the Company completed the acquisition of assets from Alpha Imaging, LLC ("Alpha Imaging"), for a purchase price of $18.0 million, which included a hold-back of $1.0 million and contingent consideration which the Company has estimated at $0.9 million. The contingent consideration is payable upon shipment of backlog orders entered into by Alpha Imaging prior to the acquisition. Alpha Imaging was a long-standing distributor of the Company's Breast and Skeletal products in the U.S. The majority of the purchase price was allocated to a customer relationships intangible asset with a useful life of 5 years. SuperSonic Imagine On August 1, 2019, the Company purchased 46% of the outstanding shares of SuperSonic Imagine ("SSI") for $18.2 million. SSI is a public company located in Aix-en-Provence, France that manufactures and markets ultrasound medical imaging equipment. In September 2019, the Company launched a cash tender offer to acquire the remaining outstanding shares for a price of €1.50 per share in cash. The Company determined that SSI was a Variable Interest Entity (“VIE”) but it was not the primary beneficiary as it was not a party to the initial design of the entity nor did it have control over SSI's operations until November 21, 2019 when the Company's ownership of SSI's voting stock exceeded 50%. Accordingly, the Company initially accounted for this investment under the equity method of accounting. On November 21, 2019, the Company acquired an additional 7.6 million shares of SSI for $12.6 million. As a result, the Company's ownership interest increased to approximately 78% of the outstanding common shares of SSI at November 21, 2019, and it now controlled SSI's voting interest and operations. The Company performed purchase accounting as of November 21, 2019 and beginning on that date the financial results of SSI are included within the Company's consolidated financial statements, specifically the Breast Health reportable segment. The Company remeasured the initial investment of 46% of the outstanding shares of SSI to its fair value at the acquisition date, resulting in a gain of $3.2 million recorded in the first quarter of fiscal 2020. The total accounting purchase price was $69.3 million, which consisted of $17.9 million for the equity method investment in SSI, $12.6 million for shares acquired on November 21, 2019, $30.2 million for loans the Company provided to SSI prior to the acquisition to pay-off pre-existing loans and fund operations that are considered forgiven, and $8.6 million representing the fair value of the noncontrolling interest as of November 21, 2019. The Company purchased an additional 1.1 million outstanding shares in fiscal 2020 for $1.8 million, and as of December 26, 2020, the Company owned approximately 81% of the outstanding shares of SSI. The total purchase price was allocated to SSI's tangible and identifiable intangible assets and liabilities based on the estimated fair values of those assets as of November 21, 2019, as set forth below. Cash $ 2.6 Accounts receivable 7.1 Inventory 10.0 Property, plant and equipment 6.5 Other assets 4.3 Accounts payable and accrued expenses (24.5) Deferred revenue (1.8) Short and long-term debt (8.8) Other liabilities (3.8) Identifiable intangible assets: Developed technology 38.3 Customer relationships 4.0 Trade names 3.0 Deferred income taxes, net (1.9) Goodwill 34.3 Purchase Price $ 69.3 In performing the purchase price allocation, the Company considered, among other factors, the intended future use of acquired assets, analysis of historical financial performance and estimates of future performance of SSI's business. As part of the purchase price allocation, the Company determined the identifiable intangible assets were developed technology, customer relationships, and trade names. The fair value of the intangible assets was estimated using the income approach, and the cash flow projections were discounted using a 12.0% rate. The cash flows were based on estimates used to price the transaction, and the discount rates applied were benchmarked with reference to the implied rate of return from the transaction model and the weighted average cost of capital. The weighted average life for the developed technology is 9 years, customer relationships is 9 years and trade names is 8.6 years. The calculation of the excess of the purchase price over the estimated fair value of the tangible net assets and intangible assets acquired was recorded to goodwill. The factors contributing to the recognition of the

Trade Receivables and Allowance

Trade Receivables and Allowance for Credit Losses3 Months Ended
Dec. 26, 2020
Receivables [Abstract]
Trade Receivables and Allowance for Credit LossesTrade Receivables and Allowance for Credit Losses Effective September 27, 2020, the Company adopted Topic 326, which requires that financial assets measured at amortized cost be presented at the net amount expected to be collected. The expected credit losses are developed using an estimated loss rate method that considers historical collection experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. The estimated loss rates are applied to trade receivables with similar risk characteristics such as the length of time the balance has been outstanding and the location of the customer. In certain instances, the Company may identify individual trade receivable assets that do not share risk characteristics with other trade receivables, in which case the Company records its expected credit losses on an individual asset basis. For example, potential adverse changes to customer liquidity from new macroeconomic events, such as the COVID-19 pandemic, must be taken into consideration. To date, the Company has not experienced significant customer payment defaults, or identified other significant collectability concerns as a result of the pandemic. In connection with assessing credit losses for individual trade receivable assets, the Company considers significant factors relevant to collectability including those specific to the customer such as bankruptcy, length of time an account is outstanding, and the liquidity and financial position of the customer. If a trade receivable asset is evaluated on an individual basis, the Company excludes those assets from the portfolios of trade receivables evaluated on a collective basis. The following is a rollforward of the allowance for credit losses as of December 26, 2020, compared to December 28, 2019: Balance at Credit Loss Reclassified as Assets held for sale Write- Balance at Three Months Ended: December 26, 2020 $ 31.6 $ 9.1 $ — $ (1.3) $ 39.4 December 28, 2019 $ 17.8 $ 0.3 $ (5.9) $ (0.5) $ 11.7

Disposition

Disposition3 Months Ended
Dec. 26, 2020
Discontinued Operations and Disposal Groups [Abstract]
DispositionsDisposition Sale of Medical Aesthetics On November 20, 2019, the Company entered into a definitive agreement to sell its Medical Aesthetics business to Clayton Dubilier & Rice ("CD&R") for a sales price of $205.0 million in cash, less certain adjustments. The sale was completed on December 30, 2019, and the Company received cash proceeds of $153.4 million in the second quarter of fiscal 2020. The sale price was subject to adjustment pursuant to the terms of the definitive agreement, and the parties agreed to a final sales price of $150.0 million in the fourth quarter of fiscal 2020. The Company agreed to provide certain transition services for three to fifteen months, depending on the nature of the service. The Company also agreed to indemnify CD&R for certain legal and tax matters that existed as of the date of disposition. In connection with its accounting for the sale, the Company recorded indemnification liabilities of $10.9 million within accrued expenses associated with its obligations under the sale agreement. As a result of this transaction, the Medical Aesthetics asset group was designated as assets held-for-sale in the first quarter of fiscal 2020. Pursuant to ASC 360, asset groups under this designation are required to be recorded at fair value less costs to sell. The Company determined that this disposal did not qualify as a discontinued operation as the sale of the Medical Aesthetics business was deemed to not be a strategic shift having or will have a major effect on the Company's operations and financial results. Based on the terms in the agreement of the sales price and formula for net working capital and related adjustments, its estimate of the fair value for transition services and the amount that must be carved out of the sale proceeds, and liabilities the Company will retain or for which it has agreed to indemnify CD&R, the Company recorded an impairment charge of $30.2 million in the first quarter of fiscal 2020. The impairment charge was allocated to Medical Aesthetics long-lived assets, of which $25.8 million was allocated to cost of product revenues and $4.4 million to operating expenses. In the first quarter of fiscal 2020, this business incurred a loss from operations of $46.5 million, which excludes corporate allocations. The operating expenses include only those that were incurred directly by and were retained by the disposed business. The Company will continue to incur expenses related to this business under the indemnification provisions primarily related to legal and tax matters that existed as of the date of disposition. These expenses were not significant in the first quarter of fiscal 2021.

Borrowings and Credit Arrangeme

Borrowings and Credit Arrangements3 Months Ended
Jun. 29, 2019
Debt Disclosure [Abstract]
Borrowings and Credit ArrangementsBorrowings and Credit Arrangements The Company’s borrowings consisted of the following: December 26, September 26, Current debt obligations, net of debt discount and deferred issuance costs: Term Loan $ 74.9 $ 74.9 Revolver — 250.0 Total current debt obligations $ 74.9 $ 324.9 Long-term debt obligations, net of debt discount and issuance costs: Term Loan 1,361.8 1,379.9 2025 Senior Notes — 939.4 2028 Senior Notes 394.8 394.6 2029 Senior Notes 932.9 — Total long-term debt obligations $ 2,689.5 $ 2,713.9 Total debt obligations $ 2,764.4 $ 3,038.8 2018 Amended and Restated Credit Agreement On December 17, 2018, the Company and certain of its subsidiaries refinanced its term loan and revolving credit facility by entering into an Amended and Restated Credit and Guaranty Agreement as of December 17, 2018 (the "2018 Credit Agreement") with Bank of America, N.A. in its capacity as Administrative Agent, Swing Line Lender and L/C Issuer, and certain other lenders. The 2018 Credit Agreement amended and restated the Company's prior credit and guaranty agreement dated as of October 3, 2017 (the "2017 Credit Agreement"). As of December 26, 2020, the principal amount outstanding of the term loan under the 2018 Credit Agreement (the "Term Loan") was $1.4 billion. The Term Loan bears interest at an annual rate equal to the Eurocurrency Rate (i.e., the LIBOR rate) plus an Applicable Rate, which was 1.00% as of December 26, 2020. The Company also has a $1.5 billion revolving credit facility (the "Revolver") under the 2018 Credit Agreement. The borrowings of the Revolver bear interest at a rate equal to the LIBOR Daily Floating Rate plus an Applicable Rate, which was 1.00% as of December 26, 2020. In response to the market uncertainties created by the COVID-19 pandemic in March 2020, the Company borrowed $750.0 million under the Revolver, $250.0 million of which was used to pay off amounts outstanding under the asset securitization agreement, in order to have sufficient cash on hand. During the first quarter of fiscal 2021, the Company paid off the remaining outstanding balance of $250.0 million. As of December 26, 2020, the full amount of the Revolver ($1.5 billion) was available to borrow by the Company. Interest expense, weighted average interest rates, and the interest rate at the end of period under the Credit Agreements were as follows: Three Months Ended December 26, 2020 December 28, 2019 Interest expense $ 6.5 $ 13.6 Weighted average interest rate 1.23 % 3.11 % Interest rate at end of period 1.15 % 3.04 % The 2018 Credit Agreement contains two financial covenants; a total leverage ratio and an interest coverage ratio, both of which are measured as of the last day of each fiscal quarter. These terms, and calculations thereof, are defined in further detail in the 2018 Credit Agreement. As of December 26, 2020, the Company was in compliance with these covenants. Senior Notes On September 28, 2020, the Company completed a private placement of $950 million aggregate principal amount of its 3.250% Senior Notes due 2029 (the "2029 Senior Notes") at an offering price of 100% of the aggregate principal amount of the 2029 Senior Notes. The Company used the net proceeds of the 2029 Senior Notes offering in September 2020 and cash on hand to redeem in full its 4.375% Senior Notes due 2025 (the 2025 Senior Notes") in the aggregate principal amount of $950.0 million on October 15, 2020 at an aggregate redemption price of $970.8 million, including a premium payment $20.8 million. 2025 Senior Notes Immediately prior to the redemption, the total aggregate principal balance of 2025 Senior Notes was $950.0 million. As the Company planned to use the proceeds from the 2029 Senior Notes offering to redeem the 2025 Senior Notes, the Company evaluated the accounting for this transaction under ASC 470, Debt , to determine modification versus extinguishment accounting on a creditor-by-creditor basis. Certain 2025 Senior Note holders either did not participate in this refinancing transaction or reduced their holdings and these transactions were accounted for as extinguishments. As a result, the Company recorded a debt extinguishment loss in the first quarter of fiscal 2021 of $21.6 million. For the remaining 2025 Senior Notes holders who participated in the refinancing, these transactions were accounted for as modifications because on a creditor-by-creditor basis the present value of the cash flows between the debt instruments before and after the transaction was less than 10%. The Company recorded a portion of the transaction expenses of $5.8 million to interest expense pursuant to ASC 470, subtopic 50-40. The remaining debt issuance costs of $7.9 million and debt discount of $6.4 million related to the modified debt will be amortized over the term of the 2029 Senior Notes using the effective interest method. 2028 Senior Notes The Company has 4.625% Senior Notes due 2028 (the "2028 Senior Notes") outstanding in the aggregate principal balance of $400 million. The 2028 Senior Notes are general senior unsecured obligations of the Company and are guaranteed on a senior unsecured basis by certain domestic subsidiaries and mature on February 1, 2028. 2029 Senior Notes The Company has 2029 Senior Notes outstanding in the aggregate principal balance of $950 million. The 2029 Senior Notes are general senior unsecured obligations of the Company and are guaranteed on a senior unsecured basis by certain domestic subsidiaries. The 2029 Senior Notes mature on February 15, 2029 and bear interest at the rate of 3.250% per year, payable semi-annually on February 15 and August 15 of each year, commencing on February 15, 2021. The Company may redeem the 2029 Senior Notes at any time prior to September 28, 2023 at a price equal to 100% of the aggregate principal amount so redeemed, plus accrued and unpaid interest, if any, to the redemption date and a make-whole premium set forth in the indenture. The Company may also redeem up to 40% of the aggregate principal amount of the 2029 Senior Notes with the net cash proceeds of certain equity offerings at any time and from time to time before September 28, 2023, at a redemption price equal to 103.250% of the aggregate principal amount so redeemed, plus accrued and unpaid interest, if any, to the redemption date. The Company also has the option to redeem the 2029 Senior Notes on or after: September 28, 2023 through September 27, 2024 at 101.625% of par; September 28, 2024 through September 27, 2025 at 100.813% of par; and September 28, 2025 and thereafter at 100% of par. In addition, if the Company undergoes a change of control coupled with a decline in ratings, as provided in the indenture, the Company will be required to make an offer to purchase each holder’s 2029 Senior Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest, if any, to the repurchase date. The Company evaluated the 2029 Senior Notes for derivatives pursuant to ASC 815 and did not identify any embedded derivatives that require bifurcation. All features were deemed to be clearly and closely related to the host instrument. Interest expense for the 2029 Senior Notes, 2028 Senior Notes and 2025 Senior Notes was as follows: Three Months Ended December 26, 2020 December 28, 2019 Interest Rate Interest Expense Interest Expense 2028 Senior Notes 4.625 % $ 4.8 $ 4.8 2025 Senior Notes 4.375 % 2.3 10.9 2029 Senior Notes 3.250 % 8.0 — Total $ 15.1 $ 15.7

Commitments and Contingencies

Commitments and Contingencies3 Months Ended
Dec. 26, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and ContingenciesCommitments and Contingencies Litigation and Related Matters On November 6, 2015, the Company filed a suit against Minerva Surgical, Inc. (“Minerva”) in the United States District Court for the District of Delaware, alleging that Minerva’s endometrial ablation device infringes U.S. Patent 6,872,183 (the '183 patent), U.S. Patent 8,998,898 and U.S. Patent 9,095,348 (the '348 patent). On January 25, 2016, the Company amended the complaint to include claims against Minerva for unfair competition, deceptive trade practices and tortious interference with business relationships. On February 5, 2016, the Company filed a second amended complaint to additionally allege that Minerva’s endometrial ablation device infringes U.S. Patent 9,247,989 (the '989 patent). On March 4, 2016, Minerva filed an answer and counterclaims against the Company, seeking declaratory judgment on the Company’s claims and asserting claims against the Company for unfair competition, deceptive trade practices, interference with contractual relationships, breach of contract and trade libel. On June 2, 2016, the Court denied the Company’s motion for a preliminary injunction on its patent claims and denied Minerva’s request for preliminary injunction related to the Company’s alleged false and deceptive statements regarding the Minerva product. On June 28, 2018, the Court granted the Company's summary judgment motions on infringement and no invalidity with respect to the ‘183 and ‘348 patents. The Court also granted the Company’s motion for summary judgment on assignor estoppel, which bars Minerva’s invalidity defenses or any reliance on collateral findings regarding invalidity from inter partes review proceedings. The Court also denied all of Minerva’s defenses, including its motions for summary judgment on invalidity, non-infringement, no willfulness, and no unfair competition. On July 27, 2018, after a two-week trial, a jury returned a verdict that: (1) awarded the Company $4.8 million in damages for Minerva’s infringement; (2) found that Minerva’s infringement was not willful; and (3) found for the Company regarding Minerva’s counterclaims. Damages continued to accrue as Minerva continues its infringing conduct. On May 2, 2019, the Court issued rulings that denied the parties' post-trial motions, including the Company's motion for a permanent injunction seeking to prohibit Minerva from selling infringing devices. Both parties appealed the Court's rulings regarding the post-trial motions. On March 4, 2016, Minerva filed two petitions at the USPTO for inter partes review of the '348 patent. On September 12, 2016, the PTAB declined both petitions to review patentability of the '348 patent. On April 11, 2016, Minerva filed a petition for inter partes review of the '183 patent. On October 6, 2016, the PTAB granted the petition and instituted a review of the '183 patent. On December 15, 2017, the PTAB issued a final written decision invalidating all claims of the ‘183 patent. On February 9, 2018 the Company appealed this decision to the United States Court of Appeals for the Federal Circuit ("Court of Appeals"). On April 19, 2019, the Court of Appeals affirmed the PTAB's final written decision regarding the '183 patent. On July 16, 2019, the Court of Appeals denied the Company’s petition for rehearing in the appeal regarding the '183 patent. On April 22, 2020, the Court of Appeals affirmed the district court’s summary judgment ruling in favor of the Company of no invalidity and infringement, and summary judgment that assignor estoppel bars Minerva from challenging the validity of the ‘348 patent. The Court of Appeals also denied the Company’s motion for a permanent injunction and ongoing royalties for infringement of the ‘183 patent. The Court of Appeals denied Minerva’s arguments for no damages or, alternatively, a new trial. On May 22, 2020 both parties petitioned for en banc review of the Court of Appeals decision. On July 22, 2020, the Court of Appeals denied both parties' petitions for en banc review. On August 28, 2020, the district court entered final judgment against Minerva but stayed execution pending resolution of Minerva’s petition for Supreme Court review. On September 30, 2020, Minerva filed a petition requesting Supreme Court review on the issue of assignor estoppel. On November 5, 2020, Hologic filed a cross-petition requesting Supreme Court review on the issue of assignor estoppel. On January 8, 2021, the Supreme Court granted Minerva’s petition to address the issue of assignor estoppel. On April 11, 2017, Minerva filed suit against the Company and Cytyc Surgical Products, LLC (“Cytyc”) in the United States District Court for the Northern District of California alleging that the Company’s and Cytyc’s NovaSure ADVANCED endometrial ablation device infringes Minerva’s U.S. patent 9,186,208. Minerva is seeking a preliminary and permanent injunction against the Company and Cytyc from selling this NovaSure device as well as enhanced damages and interest, including lost profits, price erosion and/or royalty. On January 5, 2018, the Court denied Minerva's motion for a preliminary injunction. On February 2, 2018, at the parties’ joint request, this action was transferred to the District of Delaware. On March 26, 2019, the Magistrate Judge issued a claims construction ruling regarding the disputed terms in the patent, which the District Court Judge adopted in all respects on October 21, 2019. The original trial date of July 20, 2020 was vacated. On October 21, 2020, the trial court scheduled a 10-day trial beginning on August 9, 2021. At this time, based on available information regarding this litigation, the Company is unable to reasonably assess the ultimate outcome of this case or determine an estimate, or a range of estimates, of potential losses. As described in Note 7, the Company has agreed to indemnify CD&R for certain legal matters related to the Medical Aesthetics business that existed at the date of disposition. The Company currently has $8.5 million accrued for such matters as of December 26, 2020. While the Company believes the estimated amounts accrued are reasonable, certain matters are still ongoing and additional accruals could be recorded in the future. The Company is a party to various other legal proceedings and claims arising out of the ordinary course of its business. The Company believes that except for those matters described above there are no other proceedings or claims pending against it the ultimate resolution of which could have a material adverse effect on its financial condition or results of operations. In all cases, at each reporting period, the Company evaluates whether or not a potential loss amount or a potential range of loss is probable and reasonably estimable under ASC 450, Contingencies . Legal costs are expensed as incurred.

Net Income (Loss) Per Share

Net Income (Loss) Per Share3 Months Ended
Dec. 26, 2020
Earnings Per Share [Abstract]
Net Income (Loss) Per ShareNet Income Per Share A reconciliation of basic and diluted share amounts is as follows: Three Months Ended December 26, December 28, Basic weighted average common shares outstanding 258,605 267,893 Weighted average common stock equivalents from assumed exercise of stock options and issuance of stock units 3,180 1,828 Diluted weighted average common shares outstanding 261,785 269,721 Weighted-average anti-dilutive shares related to: Outstanding stock options 340 1,290 Stock Units — 1

Stock-Based Compensation

Stock-Based Compensation3 Months Ended
Dec. 26, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based CompensationStock-Based Compensation The following presents stock-based compensation expense in the Company’s Consolidated Statements of Operations: Three Months Ended December 26, December 28, Cost of revenues $ 2.2 $ 2.0 Research and development 2.5 2.4 Selling and marketing 2.7 2.8 General and administrative 11.2 10.9 $ 18.6 $ 18.1 The Company granted options to purchase 0.6 million and 0.8 million shares of the Company's common stock during the three months ended December 26, 2020 and December 28, 2019, respectively, with weighted-average exercise prices of $68.35 and $45.67, respectively. There were 4.6 million options outstanding at December 26, 2020 with a weighted-average exercise price of $44.13. The Company uses a binomial model to determine the fair value of its stock options. The weighted-average assumptions utilized to value these stock options are indicated in the following table: Three Months Ended December 26, December 28, Risk-free interest rate 0.4 % 1.7 % Expected volatility 35.0 % 33.6 % Expected life (in years) 4.8 4.8 Dividend yield — — Weighted average fair value of options granted $ 19.86 $ 13.83 The Company granted 0.5 million and 0.7 million restricted stock units (RSUs) during the three months ended December 26, 2020 and December 28, 2019, respectively, with weighted-average grant date fair values of $68.35 and $45.64 per unit, respectively. In addition, the Company granted 0.1 million and 0.1 million performance stock units (PSUs) during the three months ended December 26, 2020 and December 28, 2019, respectively, to members of its senior management team, which have a weighted-average grant date fair value of $68.35 and $45.65 per unit, respectively. Each recipient of PSUs is eligible to receive between zero and 200% of the target number of shares of the Company’s common stock at the end of three years provided the Company’s defined Return on Invested Capital metrics are achieved. The Company also granted 0.1 million and 0.1 million of PSUs based on a one-year free cash flow measure (FCF) to its senior management team, which had a grant date fair value of $68.35 and $45.65 per unit during the three months ended December 26, 2020 and December 28, 2019, respectively. Each recipient of FCF PSUs is eligible to receive between zero and 200% of the target number of shares of the Company's common stock at the end of the one-year measurement period, but the FCF PSUs vest at the end of the three year service period. The Company is recognizing compensation expense for PSUs and FCF PSUs ratably over the required service period. The PSUs and FCF PSUs cliff-vest three years from the date of grant, and the Company recognizes compensation expense ratably over the required service period based on its estimate of the number of shares that will vest upon achieving the measurement criteria. If there is a change in the estimate of the number of shares that are probable of vesting, the Company will cumulatively adjust compensation expense in the period that the change in estimate is made. The Company also granted 0.1 million and 0.1 million market-based awards (MSUs) to its senior management team during the three months ended December 26, 2020 and December 28, 2019, respectively. Each recipient of MSUs is eligible to receive between zero and 200% of the target number of shares of the Company’s common stock at the end of three years based upon achieving a certain total shareholder return relative to a defined peer group. The MSUs were valued at $82.31 and $43.78 per share using the Monte Carlo simulation model. These awards cliff-vest three years from the date of grant, and the Company recognizes compensation expense for the MSUs ratably over the service period. At December 26, 2020, there was 3.1 million in aggregate RSUs, PSUs, FCF PSUs and MSUs outstanding. At December 26, 2020, there was $26.0 million and $83.2 million of unrecognized compensation expense related to stock options and stock units (comprised of RSUs, PSUs, FCF PSUs and MSUs), respectively, to be recognized over a weighted-average period of 2.7 and 2.3 years, respectively.

Other Balance Sheet Information

Other Balance Sheet Information3 Months Ended
Dec. 26, 2020
Balance Sheet Related Disclosures [Abstract]
Other Balance Sheet InformationOther Balance Sheet Information December 26, September 26, Inventories Raw materials $ 152.6 $ 152.3 Work-in-process 60.1 46.5 Finished goods 207.5 196.3 $ 420.2 $ 395.1 Property, plant and equipment Equipment $ 483.1 $ 460.7 Equipment under customer usage agreements 478.3 456.8 Building and improvements 173.7 167.3 Leasehold improvements 45.2 44.3 Land 40.8 40.7 Furniture and fixtures 16.6 16.1 1,237.7 1,185.9 Less – accumulated depreciation and amortization (723.2) (694.4) $ 514.5 $ 491.5

Business Segments and Geographi

Business Segments and Geographic Information3 Months Ended
Dec. 26, 2020
Segment Reporting [Abstract]
Business Segments and Geographic InformationBusiness Segments and Geographic InformationDuring the first fiscal quarter of 2021, the Company had four reportable segments: Diagnostics, Breast Health, GYN Surgical and Skeletal Health. During the first fiscal quarter of 2020, the Company had five reportable segments that included Medical Aesthetics. The Company completed the sale of its Medical Aesthetics business on December 30, 2019. The Company measures and evaluates its reportable segments based on segment revenues and operating income adjusted to exclude the effect of non-cash charges, such as intangible asset amortization expense, intangible asset and goodwill impairment charges, transaction and integration expenses for acquisitions, restructuring, consolidation and divestiture charges, litigation charges, and other one-time or unusual items. Identifiable assets for the reportable segments consist of inventories, intangible assets, goodwill, and property, plant and equipment. The Company fully allocates depreciation expense to its reportable segments. The Company has presented all other identifiable assets as corporate assets. There were no inter-segment revenues during the three months ended December 26, 2020 and December 28, 2019. Segment information is as follows: Three Months Ended December 26, December 28, Total revenues: Diagnostics $ 1,128.2 $ 311.5 Breast Health 332.7 331.1 GYN Surgical 124.0 119.1 Skeletal Health 24.9 23.5 Medical Aesthetics — 65.3 $ 1,609.8 $ 850.5 Income from operations: Diagnostics $ 784.5 $ 49.5 Breast Health 86.3 93.9 GYN Surgical 13.7 31.5 Skeletal Health 1.0 0.9 Medical Aesthetics — (51.0) $ 885.5 $ 124.8 Depreciation and amortization: Diagnostics $ 56.3 $ 59.1 Breast Health 13.1 10.0 GYN Surgical 23.2 21.0 Skeletal Health 0.2 0.2 Medical Aesthetics — 4.1 $ 92.8 $ 94.4 Capital expenditures: Diagnostics $ 38.3 $ 18.1 Breast Health 2.9 6.4 GYN Surgical 3.3 5.3 Skeletal Health — 0.1 Medical Aesthetics — 1.4 Corporate 0.3 0.2 $ 44.8 $ 31.5 December 26, September 26, Identifiable assets: Diagnostics $ 2,177.8 $ 2,161.4 Breast Health 1,203.4 1,200.9 GYN Surgical 1,418.5 1,438.7 Skeletal Health 31.3 38.9 Corporate 2,719.7 2,355.9 $ 7,550.7 $ 7,195.8 The Company had no customers that represented greater than 10% of consolidated revenues during the three months ended December 26, 2020 and December 28, 2019. The Company operates in the following major geographic areas noted in the below chart. Revenue data is based upon customer location. Other than the United States, no single country accounted for more than 10% of consolidated revenues. The Company’s sales in Europe are predominantly derived from France, the United Kingdom and Germany. The Company’s sales in Asia-Pacific are predominantly derived from China, Australia and Japan. The “Rest of world” designation includes Canada, Latin America and the Middle East. Revenues by geography as a percentage of total revenues were as follows: Three Months Ended December 26, December 28, United States 70.7 % 74.4 % Europe 21.0 % 12.9 % Asia-Pacific 5.5 % 8.3 % Rest of World 2.8 % 4.4 % 100.0 % 100.0 %

Income Taxes

Income Taxes3 Months Ended
Dec. 26, 2020
Income Tax Disclosure [Abstract]
Income TaxesIncome Taxes In accordance with ASC 740, Income Taxes (ASC 740), each interim period is considered integral to the annual period, and tax expense is measured using an estimated annual effective tax rate. An entity is required to record income tax expense each quarter based on its annual effective tax rate estimated for the full fiscal year and use that rate to provide for income taxes on a current year-to-date basis, adjusted for discrete taxable events that occur during the interim period. The Company’s effective tax rate for the three months ended December 26, 2020 was a provision of 21.5% compared to a net benefit of 296.1% for the corresponding period in the prior year. The effective tax rate for the three months ended December 26, 2020 differed from the U.S. statutory tax rate primarily due to state income taxes, the global intangible low-taxed income inclusion, and unbenefited foreign losses, partially offset by the impact of the U.S. deduction for foreign derived intangible income, the geographic mix of income earned by our international subsidiaries, which are taxed at rates lower than the U.S. statutory tax rate, and federal and state tax credits. The effective tax rate for the three months ended December 28, 2019 differed from the U.S. statutory tax rate primarily due to a $312.2 million discrete tax benefit related to the Medical Aesthetics business outside basis difference, partially offset by an increase in the Medical Aesthetics business valuation allowance. The outside basis difference is the difference between the carrying amount of an entity's investment for financial reporting purposes and the underlying tax basis in that investment. An outside tax-over-book basis difference for an investment in a subsidiary results in the recognition of a deferred tax asset only when it becomes apparent that the reversal of the temporary difference will occur in the foreseeable future. As the Medical Aesthetics business met the assets held for sale criteria during the three months ended December 28, 2019, the requirement for recognition of the deferred tax asset for the outside basis difference was also met. Non-Income Tax Matters The Company is subject to tax examinations for value added, sales-based, payroll, and other non-income tax items. A number of these examinations are ongoing in various jurisdictions. The Company takes certain non-income tax positions in the jurisdictions in which it operates pursuant to ASC 450. In the normal course of business, the Company's positions and conclusions related to its non-income tax positions could be challenged, resulting in assessments by governmental authorities. Pursuant to ASC 450, the Company has recorded loss contingencies with respect to some of these positions. While the Company believes estimated losses previously recorded are reasonable, certain audits are still ongoing and additional charges could be recorded in the future.

Intangible Assets and Goodwill

Intangible Assets and Goodwill3 Months Ended
Sep. 28, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and GoodwillIntangible Assets Intangible assets consisted of the following: Description As of December 26, 2020 As of September 26, 2020 Gross Accumulated Gross Accumulated Acquired intangible assets: Developed technology $ 4,056.1 $ 2,969.4 $ 4,054.0 $ 2,907.2 Customer relationships 560.5 486.7 549.1 477.8 Trade names 245.7 183.8 245.5 181.2 Non-competition agreements 1.6 1.5 1.5 1.3 Business licenses 2.5 2.4 2.4 2.3 Total acquired intangible assets $ 4,866.4 $ 3,643.8 $ 4,852.5 $ 3,569.8 Internal-use software 51.9 43.8 51.8 43.2 Capitalized software embedded in products 25.6 11.5 26.8 10.6 Total intangible assets $ 4,943.9 $ 3,699.1 $ 4,931.1 $ 3,623.6 The estimated remaining amortization expense of the Company's acquired intangible assets as of December 26, 2020 for each of the five succeeding fiscal years is as follows: Remainder of Fiscal 2021 $ 213.3 Fiscal 2022 $ 274.3 Fiscal 2023 $ 178.0 Fiscal 2024 $ 166.6 Fiscal 2025 $ 153.2

Product Warranties

Product Warranties3 Months Ended
Dec. 26, 2020
Guarantees [Abstract]
Product WarrantiesProduct Warranties Product warranty activity was as follows: Balance at Provisions Acquired Settlements/ Balance at Three Months Ended: December 26, 2020 $ 9.9 $ 3.3 $ — $ (3.7) $ 9.5 December 28, 2019 $ 13.9 $ 3.8 $ 0.5 $ (4.1) $ 14.1

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss3 Months Ended
Dec. 26, 2020
Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive LossAccumulated Other Comprehensive Income (Loss) The following tables summarize the changes in accumulated balances of other comprehensive loss for the periods presented: Three Months Ended December 26, 2020 Foreign Currency Translation Pension Plans Hedged Interest Rate Caps Hedged Interest Rate Swaps Total Beginning Balance $ (22.9) $ (1.8) $ (0.9) $ (24.1) $ (49.7) Other comprehensive income (loss) before reclassifications 17.8 — (0.2) 0.9 18.5 Amounts reclassified to statement of income — — 0.5 — 0.5 Ending Balance $ (5.1) $ (1.8) $ (0.6) $ (23.2) $ (30.7) Three Months Ended December 28, 2019 Foreign Currency Translation Pension Plans Hedged Interest Rate Caps Hedged Interest Rate Swaps Total Beginning Balance $ (41.4) $ (1.7) $ (2.7) $ 3.5 $ (42.3) Other comprehensive income (loss) before reclassifications 8.3 — (0.3) 4.3 12.3 Amounts reclassified to statement of income — — 1.3 — 1.3 Ending Balance $ (33.1) $ (1.7) $ (1.7) $ 7.8 $ (28.7)

New Accounting Pronouncements

New Accounting Pronouncements3 Months Ended
Dec. 26, 2020
Accounting Policies [Abstract]
New Accounting PronouncementsNew Accounting PronouncementsSee Note 1 for Recently Adopted Accounting Pronouncements.

New Accounting Pronouncements (

New Accounting Pronouncements (Policies)3 Months Ended
Dec. 26, 2020
Accounting Policies [Abstract]
New Accounting PronouncementsNew Accounting Pronouncements See Note 1 for Recently Adopted Accounting Pronouncements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes. The Board issued this Update as part of its initiative to reduce complexity in accounting standards (the Simplification Initiative). For public business entities, the amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020 and is applicable to the Company in fiscal 2022. The Company is currently evaluating the impact of the adoption of ASU 2019-12 on its consolidated financial position and results of operations. In January 2020, the FASB issued ASU No. 2020-01, Investments - Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) . The Board issued this Update to clarify certain interactions between the guidance to account for certain equity securities under Topic 321, the guidance to account for investments under the equity method of accounting in Topic 323, and the guidance in Topic 815. This update could change how an entity accounts for an equity security under the measurement alternative or a forward contract or purchased option to purchase securities that, upon settlement of the forward contract or exercise of the purchased option, would be accounted for under the equity method of accounting or the fair value option in accordance with Topic 825, Financial Instruments. For entities that have adopted the amendments in Update 2020-01, the updated guidance is effective for annual periods beginning after December 15, 2020, and is applicable to the Company in fiscal 2022. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of ASU 2020-01 on its consolidated financial position and results of operations. In January 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) . The Board issued this Update as optional guidance for a limited period of time to ease the potential burden in accounting for or recognizing the effects of reference rate reform on financial reporting. This update will provide optional expedients and exceptions for applying GAAP to

Revenue (Tables)

Revenue (Tables)3 Months Ended
Dec. 26, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of RevenueThe following tables provide revenue from contracts with customers by business and geographic region on a disaggregated basis: Three Months Ended December 26, 2020 Business ( in millions ) United States International Total Diagnostics: Cytology & Perinatal $ 80.1 $ 44.7 $ 124.8 Molecular Diagnostics 675.3 320.0 995.3 Blood Screening 8.1 — 8.1 Total $ 763.5 $ 364.7 $ 1,128.2 Breast Health: Breast Imaging $ 203.0 $ 64.7 $ 267.7 Interventional Breast Solutions 55.2 9.8 65.0 Total $ 258.2 $ 74.5 $ 332.7 GYN Surgical $ 101.0 $ 23.0 $ 124.0 Skeletal Health $ 15.1 $ 9.8 $ 24.9 $ 1,137.8 $ 472.0 $ 1,609.8 Three Months Ended December 28, 2019 Business (in millions) United States International Total Diagnostics: Cytology & Perinatal $ 77.5 $ 43.5 $ 121.0 Molecular Diagnostics 142.1 36.4 178.5 Blood Screening 12.0 — 12.0 Total $ 231.6 $ 79.9 $ 311.5 Breast Health: Breast Imaging $ 209.4 $ 65.4 $ 274.8 Interventional Breast Solutions 47.1 9.2 56.3 Total $ 256.5 $ 74.6 $ 331.1 GYN Surgical $ 98.8 $ 20.3 $ 119.1 Medical Aesthetics $ 30.9 $ 34.4 $ 65.3 Skeletal Health $ 14.9 $ 8.6 $ 23.5 $ 632.7 $ 217.8 $ 850.5 Three Months Ended Geographic Regions ( in millions ) December 26, 2020 December 29, 2019 United States $ 1,137.8 $ 632.7 Europe 338.2 109.4 Asia-Pacific 88.3 70.2 Rest of World 45.5 38.2 $ 1,609.8 $ 850.5 The following table provides revenue recognized by source: Three Months Ended Revenue by type (in millions) December 26, 2020 December 28, 2019 Disposables $ 1,263.4 $ 466.4 Capital equipment, components and software 192.0 232.9 Service 137.1 145.0 Other 17.3 6.2 $ 1,609.8 $ 850.5

Fair Value Measurements (Tables

Fair Value Measurements (Tables)3 Months Ended
Dec. 26, 2020
Fair Value Disclosures [Abstract]
Fair Value Assets and Liabilities Measured on Recurring BasisAssets and liabilities measured and recorded at fair value on a recurring basis consisted of the following at December 26, 2020: Fair Value at Reporting Date Using Balance as of December 26, 2020 Quoted Prices in Significant Significant Assets: Foreign currency option contracts $ 0.8 $ — $ 0.8 $ — Total $ 0.8 $ — $ 0.8 $ — Liabilities: Contingent consideration $ 86.4 $ — $ — $ 86.4 Interest rate swap 30.7 — 30.7 — Forward foreign currency contracts 6.0 — 6.0 — Total $ 123.1 $ — $ 36.7 $ 86.4 Liabilities Measured and Recorded at Fair Value on a Recurring Basis Changes in the fair value of recurring fair value measurements using significant unobservable inputs (Level 3), which solely consisted of contingent consideration liabilities, during the three month periods ended December 26, 2020 and December 28, 2019 were as follows: Three Month Ended December 26, 2020 December 28, 2019 Balance at beginning of period $ 81.8 $ 9.1 Contingent consideration recorded at acquisition — — Fair value adjustments 4.6 0.9 Payments/Accruals — — Balance at end of period $ 86.4 $ 10.0

Business Combinations (Tables)

Business Combinations (Tables)3 Months Ended
Dec. 26, 2020
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities AssumedThe total purchase price was allocated to Acessa's preliminary tangible and identifiable intangible assets and liabilities based on the estimated fair values as of August 23, 2020, as set forth below. Cash $ 1.2 Inventory $ 4.0 Other assets $ 4.4 Identifiable intangible assets: Developed technology $ 127.0 Trade names $ 1.2 Accounts payable and accrued expenses $ (4.7) Deferred income taxes, net $ (20.2) Goodwill $ 48.4 Purchase Price $ 161.3 The total purchase price was allocated to SSI's tangible and identifiable intangible assets and liabilities based on the estimated fair values of those assets as of November 21, 2019, as set forth below. Cash $ 2.6 Accounts receivable 7.1 Inventory 10.0 Property, plant and equipment 6.5 Other assets 4.3 Accounts payable and accrued expenses (24.5) Deferred revenue (1.8) Short and long-term debt (8.8) Other liabilities (3.8) Identifiable intangible assets: Developed technology 38.3 Customer relationships 4.0 Trade names 3.0 Deferred income taxes, net (1.9) Goodwill 34.3 Purchase Price $ 69.3

Trade Receivables and Allowan_2

Trade Receivables and Allowance for Credit Losses (Tables)3 Months Ended
Dec. 26, 2020
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing ReceivableThe following is a rollforward of the allowance for credit losses as of December 26, 2020, compared to December 28, 2019:

Borrowings and Credit Arrange_2

Borrowings and Credit Arrangements (Tables)3 Months Ended
Dec. 26, 2020
Debt Disclosure [Abstract]
Company's BorrowingsThe Company’s borrowings consisted of the following: December 26, September 26, Current debt obligations, net of debt discount and deferred issuance costs: Term Loan $ 74.9 $ 74.9 Revolver — 250.0 Total current debt obligations $ 74.9 $ 324.9 Long-term debt obligations, net of debt discount and issuance costs: Term Loan 1,361.8 1,379.9 2025 Senior Notes — 939.4 2028 Senior Notes 394.8 394.6 2029 Senior Notes 932.9 — Total long-term debt obligations $ 2,689.5 $ 2,713.9 Total debt obligations $ 2,764.4 $ 3,038.8
Schedule of Line of Credit FacilitiesInterest expense, weighted average interest rates, and the interest rate at the end of period under the Credit Agreements were as follows: Three Months Ended December 26, 2020 December 28, 2019 Interest expense $ 6.5 $ 13.6 Weighted average interest rate 1.23 % 3.11 % Interest rate at end of period 1.15 % 3.04 %
Schedule Of Interest Expense Under Convertible Notes2029 Senior Notes The Company has 2029 Senior Notes outstanding in the aggregate principal balance of $950 million. The 2029 Senior Notes are general senior unsecured obligations of the Company and are guaranteed on a senior unsecured basis by certain domestic subsidiaries. The 2029 Senior Notes mature on February 15, 2029 and bear interest at the rate of 3.250% per year, payable semi-annually on February 15 and August 15 of each year, commencing on February 15, 2021. The Company may redeem the 2029 Senior Notes at any time prior to September 28, 2023 at a price equal to 100% of the aggregate principal amount so redeemed, plus accrued and unpaid interest, if any, to the redemption date and a make-whole premium set forth in the indenture. The Company may also redeem up to 40% of the aggregate principal amount of the 2029 Senior Notes with the net cash proceeds of certain equity offerings at any time and from time to time before September 28, 2023, at a redemption price equal to 103.250% of the aggregate principal amount so redeemed, plus accrued and unpaid interest, if any, to the redemption date. The Company also has the option to redeem the 2029 Senior Notes on or after: September 28, 2023 through September 27, 2024 at 101.625% of par; September 28, 2024 through September 27, 2025 at 100.813% of par; and September 28, 2025 and thereafter at 100% of par. In addition, if the Company undergoes a change of control coupled with a decline in ratings, as provided in the indenture, the Company will be required to make an offer to purchase each holder’s 2029 Senior Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest, if any, to the repurchase date. The Company evaluated the 2029 Senior Notes for derivatives pursuant to ASC 815 and did not identify any embedded derivatives that require bifurcation. All features were deemed to be clearly and closely related to the host instrument. Interest expense for the 2029 Senior Notes, 2028 Senior Notes and 2025 Senior Notes was as follows: Three Months Ended December 26, 2020 December 28, 2019 Interest Rate Interest Expense Interest Expense 2028 Senior Notes 4.625 % $ 4.8 $ 4.8 2025 Senior Notes 4.375 % 2.3 10.9 2029 Senior Notes 3.250 % 8.0 — Total $ 15.1 $ 15.7

Derivatives (Tables)

Derivatives (Tables)3 Months Ended
Dec. 26, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments, Gain (Loss)Three Months Ended December 26, 2020 December 28, 2019 Amount of realized (loss) gain recognized in income Forward foreign currency contracts $ (2.9) $ — Foreign currency option contracts (1.2) — Total $ (4.1) $ — Amount of unrealized (loss) gain recognized in income Forward foreign currency contracts $ (6.6) $ (1.5) Foreign currency option contracts (8.0) (1.5) Total $ (14.6) $ (3.0)
Schedule of Derivative Assets at Fair ValueThe table below presents the fair value of the Company's derivative financial instruments as well as their classification on the balance sheet as of December 26, 2020: Balance Sheet Location December 26, 2020 September 26, 2020 Assets: Derivatives not designated as hedging instruments: Forward foreign currency contracts Prepaid expenses and other current assets $ — $ 1.1 Foreign currency option contracts Prepaid expenses and other current assets 0.8 10.1 $ 0.8 $ 11.2 Liabilities: Derivative instruments designated as a cash flow hedge: Interest rate swap contract Accrued expenses $ 11.1 $ 8.2 Interest rate swap contract Other long-term liabilities 19.6 23.0 Total $ 30.7 $ 31.2 Derivatives not designated as hedging instruments: Forward foreign currency contracts Accrued expenses $ 6.0 $ —
Schedule of Unrealized Loss Recognized in AOCIThe following table presents the unrealized gain (loss) recognized in AOCI related to the interest rate caps and interest rate swap for the following reporting periods: Three Months Ended December 26, 2020 December 28, 2019 Amount of gain (loss) recognized in other comprehensive income, net of taxes: Interest rate swap $ 0.9 $ 4.3 Interest rate cap agreements (0.2) (0.3) Total $ 0.7 $ 4.0
Schedule of Adjustment to Fair Value within the Consolidated Statements of IncomeThe following table presents the adjustment to fair value (realized and unrealized) recorded within the Consolidated Statements of Income for derivative instruments for which the Company did not elect hedge accounting: Derivatives not classified as hedging instruments Amount of Loss Recognized in Income Three Months Ended December 26, 2020 Three Months Ended December 28, 2019 Forward foreign currency contracts $ (9.5) $ (1.5) Foreign currency option contracts (9.2) (1.7) Total $ (18.7) $ (3.2)

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)3 Months Ended
Dec. 26, 2020
Earnings Per Share [Abstract]
Reconciliation of Basic and Diluted Share AmountsA reconciliation of basic and diluted share amounts is as follows: Three Months Ended December 26, December 28, Basic weighted average common shares outstanding 258,605 267,893 Weighted average common stock equivalents from assumed exercise of stock options and issuance of stock units 3,180 1,828 Diluted weighted average common shares outstanding 261,785 269,721 Weighted-average anti-dilutive shares related to: Outstanding stock options 340 1,290 Stock Units — 1

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)3 Months Ended
Dec. 26, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation Expense in Consolidated Statements of OperationsThe following presents stock-based compensation expense in the Company’s Consolidated Statements of Operations: Three Months Ended December 26, December 28, Cost of revenues $ 2.2 $ 2.0 Research and development 2.5 2.4 Selling and marketing 2.7 2.8 General and administrative 11.2 10.9 $ 18.6 $ 18.1
Weighted-Average Assumptions Utilized to Value Stock OptionsThe Company uses a binomial model to determine the fair value of its stock options. The weighted-average assumptions utilized to value these stock options are indicated in the following table: Three Months Ended December 26, December 28, Risk-free interest rate 0.4 % 1.7 % Expected volatility 35.0 % 33.6 % Expected life (in years) 4.8 4.8 Dividend yield — — Weighted average fair value of options granted $ 19.86 $ 13.83

Other Balance Sheet Informati_2

Other Balance Sheet Information (Tables)3 Months Ended
Dec. 26, 2020
Balance Sheet Related Disclosures [Abstract]
Other Balance Sheet Information of InventoriesDecember 26, September 26, Inventories Raw materials $ 152.6 $ 152.3 Work-in-process 60.1 46.5 Finished goods 207.5 196.3 $ 420.2 $ 395.1
Other Balance Sheet Information of Property, Plant and EquipmentProperty, plant and equipment Equipment $ 483.1 $ 460.7 Equipment under customer usage agreements 478.3 456.8 Building and improvements 173.7 167.3 Leasehold improvements 45.2 44.3 Land 40.8 40.7 Furniture and fixtures 16.6 16.1 1,237.7 1,185.9 Less – accumulated depreciation and amortization (723.2) (694.4) $ 514.5 $ 491.5

Business Segments and Geograp_2

Business Segments and Geographic Information (Tables)3 Months Ended
Dec. 26, 2020
Segment Reporting [Abstract]
Segment Informationegment information is as follows: Three Months Ended December 26, December 28, Total revenues: Diagnostics $ 1,128.2 $ 311.5 Breast Health 332.7 331.1 GYN Surgical 124.0 119.1 Skeletal Health 24.9 23.5 Medical Aesthetics — 65.3 $ 1,609.8 $ 850.5 Income from operations: Diagnostics $ 784.5 $ 49.5 Breast Health 86.3 93.9 GYN Surgical 13.7 31.5 Skeletal Health 1.0 0.9 Medical Aesthetics — (51.0) $ 885.5 $ 124.8 Depreciation and amortization: Diagnostics $ 56.3 $ 59.1 Breast Health 13.1 10.0 GYN Surgical 23.2 21.0 Skeletal Health 0.2 0.2 Medical Aesthetics — 4.1 $ 92.8 $ 94.4 Capital expenditures: Diagnostics $ 38.3 $ 18.1 Breast Health 2.9 6.4 GYN Surgical 3.3 5.3 Skeletal Health — 0.1 Medical Aesthetics — 1.4 Corporate 0.3 0.2 $ 44.8 $ 31.5 December 26, September 26, Identifiable assets: Diagnostics $ 2,177.8 $ 2,161.4 Breast Health 1,203.4 1,200.9 GYN Surgical 1,418.5 1,438.7 Skeletal Health 31.3 38.9 Corporate 2,719.7 2,355.9 $ 7,550.7 $ 7,195.8
Revenues by GeographyRevenues by geography as a percentage of total revenues were as follows: Three Months Ended December 26, December 28, United States 70.7 % 74.4 % Europe 21.0 % 12.9 % Asia-Pacific 5.5 % 8.3 % Rest of World 2.8 % 4.4 % 100.0 % 100.0 %

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)3 Months Ended
Dec. 26, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible AssetsIntangible assets consisted of the following: Description As of December 26, 2020 As of September 26, 2020 Gross Accumulated Gross Accumulated Acquired intangible assets: Developed technology $ 4,056.1 $ 2,969.4 $ 4,054.0 $ 2,907.2 Customer relationships 560.5 486.7 549.1 477.8 Trade names 245.7 183.8 245.5 181.2 Non-competition agreements 1.6 1.5 1.5 1.3 Business licenses 2.5 2.4 2.4 2.3 Total acquired intangible assets $ 4,866.4 $ 3,643.8 $ 4,852.5 $ 3,569.8 Internal-use software 51.9 43.8 51.8 43.2 Capitalized software embedded in products 25.6 11.5 26.8 10.6 Total intangible assets $ 4,943.9 $ 3,699.1 $ 4,931.1 $ 3,623.6
Schedule of Estimated Amortization ExpenseThe estimated remaining amortization expense of the Company's acquired intangible assets as of December 26, 2020 for each of the five succeeding fiscal years is as follows: Remainder of Fiscal 2021 $ 213.3 Fiscal 2022 $ 274.3 Fiscal 2023 $ 178.0 Fiscal 2024 $ 166.6 Fiscal 2025 $ 153.2

Product Warranties (Tables)

Product Warranties (Tables)3 Months Ended
Dec. 26, 2020
Guarantees [Abstract]
Product Warranty ActivityProduct warranty activity was as follows: Balance at Provisions Acquired Settlements/ Balance at Three Months Ended: December 26, 2020 $ 9.9 $ 3.3 $ — $ (3.7) $ 9.5 December 28, 2019 $ 13.9 $ 3.8 $ 0.5 $ (4.1) $ 14.1

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)3 Months Ended
Dec. 26, 2020
Accumulated Other Comprehensive Income [Abstract]
Changes in Accumulated Other Comprehensive IncomeThe following tables summarize the changes in accumulated balances of other comprehensive loss for the periods presented: Three Months Ended December 26, 2020 Foreign Currency Translation Pension Plans Hedged Interest Rate Caps Hedged Interest Rate Swaps Total Beginning Balance $ (22.9) $ (1.8) $ (0.9) $ (24.1) $ (49.7) Other comprehensive income (loss) before reclassifications 17.8 — (0.2) 0.9 18.5 Amounts reclassified to statement of income — — 0.5 — 0.5 Ending Balance $ (5.1) $ (1.8) $ (0.6) $ (23.2) $ (30.7) Three Months Ended December 28, 2019 Foreign Currency Translation Pension Plans Hedged Interest Rate Caps Hedged Interest Rate Swaps Total Beginning Balance $ (41.4) $ (1.7) $ (2.7) $ 3.5 $ (42.3) Other comprehensive income (loss) before reclassifications 8.3 — (0.3) 4.3 12.3 Amounts reclassified to statement of income — — 1.3 — 1.3 Ending Balance $ (33.1) $ (1.7) $ (1.7) $ 7.8 $ (28.7)

Basis of Presentation Details (

Basis of Presentation Details (Details) - USD ($)Jan. 05, 2021Dec. 30, 2020Nov. 21, 2019
Consideration transferred $ 69,300,000
Somatex [Member] | Subsequent Event
Consideration transferred $ 64,000,000
Biothernostics [Member] | Subsequent Event
Consideration transferred $ 230,000,000

Revenue - Business Revenue (Det

Revenue - Business Revenue (Details) - USD ($)3 Months Ended
Dec. 26, 2020Dec. 28, 2019
Disaggregation of Revenue [Line Items]
Revenues $ 1,609,800,000 $ 850,500,000
Contract with Customer, Liability, Revenue Recognized50,700,000
United States
Disaggregation of Revenue [Line Items]
Revenues1,137,800,000 632,700,000
International
Disaggregation of Revenue [Line Items]
Revenues472,000,000 217,800,000
Diagnostics
Disaggregation of Revenue [Line Items]
Revenues1,128,200,000 311,500,000
Diagnostics | United States
Disaggregation of Revenue [Line Items]
Revenues763,500,000 231,600,000
Diagnostics | International
Disaggregation of Revenue [Line Items]
Revenues364,700,000 79,900,000
Diagnostics | Cytology & Perinatal
Disaggregation of Revenue [Line Items]
Revenues124,800,000 121,000,000
Diagnostics | Cytology & Perinatal | United States
Disaggregation of Revenue [Line Items]
Revenues80,100,000 77,500,000
Diagnostics | Cytology & Perinatal | International
Disaggregation of Revenue [Line Items]
Revenues44,700,000 43,500,000
Diagnostics | Molecular Diagnostics
Disaggregation of Revenue [Line Items]
Revenues995,300,000 178,500,000
Diagnostics | Molecular Diagnostics | United States
Disaggregation of Revenue [Line Items]
Revenues675,300,000 142,100,000
Diagnostics | Molecular Diagnostics | International
Disaggregation of Revenue [Line Items]
Revenues320,000,000 36,400,000
Diagnostics | Blood Screening
Disaggregation of Revenue [Line Items]
Revenues8,100,000 12,000,000
Diagnostics | Blood Screening | United States
Disaggregation of Revenue [Line Items]
Revenues8,100,000 12,000,000
Diagnostics | Blood Screening | International
Disaggregation of Revenue [Line Items]
Revenues0 0
Breast Health
Disaggregation of Revenue [Line Items]
Revenues332,700,000 331,100,000
Breast Health | United States
Disaggregation of Revenue [Line Items]
Revenues258,200,000 256,500,000
Breast Health | International
Disaggregation of Revenue [Line Items]
Revenues74,500,000 74,600,000
Breast Health | Breast Imaging
Disaggregation of Revenue [Line Items]
Revenues267,700,000 274,800,000
Breast Health | Breast Imaging | United States
Disaggregation of Revenue [Line Items]
Revenues203,000,000 209,400,000
Breast Health | Breast Imaging | International
Disaggregation of Revenue [Line Items]
Revenues64,700,000 65,400,000
Breast Health | Interventional Breast Solutions
Disaggregation of Revenue [Line Items]
Revenues65,000,000 56,300,000
Breast Health | Interventional Breast Solutions | United States
Disaggregation of Revenue [Line Items]
Revenues55,200,000 47,100,000
Breast Health | Interventional Breast Solutions | International
Disaggregation of Revenue [Line Items]
Revenues9,800,000 9,200,000
GYN Surgical
Disaggregation of Revenue [Line Items]
Revenues124,000,000 119,100,000
GYN Surgical | United States
Disaggregation of Revenue [Line Items]
Revenues101,000,000 98,800,000
GYN Surgical | International
Disaggregation of Revenue [Line Items]
Revenues23,000,000 20,300,000
Medical Aesthetics
Disaggregation of Revenue [Line Items]
Revenues0 65,300,000
Medical Aesthetics | United States
Disaggregation of Revenue [Line Items]
Revenues30,900,000
Medical Aesthetics | International
Disaggregation of Revenue [Line Items]
Revenues34,400,000
Skeletal Health
Disaggregation of Revenue [Line Items]
Revenues24,900,000 23,500,000
Skeletal Health | United States
Disaggregation of Revenue [Line Items]
Revenues15,100,000 14,900,000
Skeletal Health | International
Disaggregation of Revenue [Line Items]
Revenues $ 9,800,000 $ 8,600,000

Revenue - Geographical Revenue

Revenue - Geographical Revenue (Details) - USD ($) $ in Millions3 Months Ended
Dec. 26, 2020Dec. 28, 2019
Disaggregation of Revenue [Line Items]
Revenues $ 1,609.8 $ 850.5
United States
Disaggregation of Revenue [Line Items]
Revenues1,137.8 632.7
Europe
Disaggregation of Revenue [Line Items]
Revenues338.2 109.4
Asia-Pacific
Disaggregation of Revenue [Line Items]
Revenues88.3 70.2
Rest of World
Disaggregation of Revenue [Line Items]
Revenues $ 45.5 $ 38.2

Revenue - Revenue by Type (Deta

Revenue - Revenue by Type (Details) - USD ($)3 Months Ended
Dec. 26, 2020Dec. 28, 2019
Disaggregation of Revenue [Line Items]
Revenues $ 1,609,800,000 $ 850,500,000
Contract with Customer, Liability, Revenue Recognized50,700,000
Disposables
Disaggregation of Revenue [Line Items]
Revenues1,263,400,000 466,400,000
Capital equipment, components and software
Disaggregation of Revenue [Line Items]
Revenues192,000,000 232,900,000
Service
Disaggregation of Revenue [Line Items]
Revenues137,100,000 145,000,000
Other
Disaggregation of Revenue [Line Items]
Revenues $ 17,300,000 $ 6,200,000

Revenue - Narrative (Details)

Revenue - Narrative (Details) $ in MillionsDec. 26, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Revenue, Remaining Performance Obligation, Amount $ 702

Revenue - Remaining Performance

Revenue - Remaining Performance Obligation (Details)Dec. 26, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-03-29
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation, Percentage31.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-03-29
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation, Percentage30.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-03-29
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation, Percentage21.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-03-29
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation, Percentage12.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-03-29
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation, Percentage6.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period1 year

Leases - Additional Lease Infor

Leases - Additional Lease Information (Details)3 Months Ended
Dec. 26, 2020Dec. 28, 2019
Leases [Abstract]
Lease revenue as a percentage of total (percentage)0.023

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Assets and Liabilities Measured on Recurring Basis (Detail) $ in MillionsDec. 26, 2020USD ($)
Assets:
Assets measured at fair value on a recurring basis $ 0.8
Liabilities:
Total123.1
Foreign currency option contracts
Assets:
Assets measured at fair value on a recurring basis0.8
Forward foreign currency contracts | Liability
Assets:
Assets measured at fair value on a recurring basis6
Contingent Consideration Type
Liabilities:
Contingent consideration86.4
Interest Rate Swap
Assets:
Assets measured at fair value on a recurring basis30.7
Quoted Prices in Active Market for Identical Assets (Level 1)
Assets:
Assets measured at fair value on a recurring basis0
Liabilities:
Total0
Quoted Prices in Active Market for Identical Assets (Level 1) | Foreign currency option contracts
Assets:
Assets measured at fair value on a recurring basis0
Quoted Prices in Active Market for Identical Assets (Level 1) | Forward foreign currency contracts | Liability
Assets:
Assets measured at fair value on a recurring basis0
Quoted Prices in Active Market for Identical Assets (Level 1) | Contingent Consideration Type
Liabilities:
Contingent consideration0
Quoted Prices in Active Market for Identical Assets (Level 1) | Interest Rate Swap
Assets:
Assets measured at fair value on a recurring basis0
Significant Other Observable Inputs (Level 2)
Assets:
Assets measured at fair value on a recurring basis0.8
Liabilities:
Total36.7
Significant Other Observable Inputs (Level 2) | Foreign currency option contracts
Assets:
Assets measured at fair value on a recurring basis0.8
Significant Other Observable Inputs (Level 2) | Forward foreign currency contracts | Liability
Assets:
Assets measured at fair value on a recurring basis6
Significant Other Observable Inputs (Level 2) | Contingent Consideration Type
Liabilities:
Contingent consideration0
Significant Other Observable Inputs (Level 2) | Interest Rate Swap
Assets:
Assets measured at fair value on a recurring basis30.7
Significant Unobservable Inputs (Level 3)
Assets:
Assets measured at fair value on a recurring basis0
Liabilities:
Total86.4
Significant Unobservable Inputs (Level 3) | Foreign currency option contracts
Assets:
Assets measured at fair value on a recurring basis0
Significant Unobservable Inputs (Level 3) | Forward foreign currency contracts | Liability
Assets:
Assets measured at fair value on a recurring basis0
Significant Unobservable Inputs (Level 3) | Contingent Consideration Type
Liabilities:
Contingent consideration86.4
Significant Unobservable Inputs (Level 3) | Interest Rate Swap
Assets:
Assets measured at fair value on a recurring basis $ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions3 Months Ended
Dec. 26, 2020Jun. 27, 2020Dec. 28, 2019
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Intangible asset and equipment impairment charges $ 0 $ 30.2
Borrowed principal1,000
Credit Agreement
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Borrowed principal1,400
2025 Senior Notes
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair value of debt instrument427
2028 Senior Notes
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair value of debt instrument $ 974
Medical Aesthetics
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Intangible asset and equipment impairment charges $ 30.2

Fair Value Measurements - Roll

Fair Value Measurements - Roll Forward (Details) - USD ($) $ in Millions3 Months Ended
Dec. 26, 2020Dec. 28, 2019
Fair Value Disclosures [Abstract]
Beginning balance $ 81.8 $ 9.1
Contingent consideration recorded at acquisition0 0
Fair value adjustments4.6 0.9
Payments/Accruals0 0
Ending balance $ 86.4 $ 10

Business Combination - Narrativ

Business Combination - Narrative (Details) $ / shares in Units, shares in Millions, $ in MillionsSep. 28, 2020USD ($)Aug. 23, 2020USD ($)Feb. 03, 2020USD ($)Dec. 30, 2019USD ($)Nov. 21, 2019USD ($)sharesAug. 01, 2019USD ($)Nov. 30, 2019USD ($)Sep. 30, 2019$ / sharesDec. 26, 2020USD ($)Dec. 28, 2019Sep. 26, 2020USD ($)Nov. 20, 2019
Business Acquisition [Line Items]
Consideration transferred $ 69.3
Ownership percentage78.00%
Goodwill $ 2,663.3 $ 2,657.9
Equity interest in acquiree, remeasurement gain $ 3.2
Consideration related to equity method investment17.9
Consideration related to newly acquired shares $ 12.6
Consideration, portion related to loan repayment30.2
Business Combination, Consideration related to fair value of noncontrolling interest8.6
Discount rate percentage0.120
Intangible assets, net1,244.8 $ 1,307.5
Change in contingent consideration $ 4.6
Developed Technology
Business Acquisition [Line Items]
Intangible assets useful life10 years
Trade Names
Business Acquisition [Line Items]
Intangible assets useful life10 years
NXC Imaging
Business Acquisition [Line Items]
Consideration transferred $ 4.9
NXC Imaging | Customer Relationships
Business Acquisition [Line Items]
Intangible assets useful life5 years
Acessa Health
Business Acquisition [Line Items]
Consideration transferred $ 161.3
Goodwill48.4
Purchase price withheld $ 81.8
Annual Incremental Revenue Growth Period3 years
Intangible assets, fair value (percentage)18.00%
Acessa Health | Contingent Holdback
Business Acquisition [Line Items]
Purchase price withheld $ 3
SuperSonic Imagine
Business Acquisition [Line Items]
Consideration transferred12.6 $ 18.2
Equity interest in acquiree, Percentage46.00%81.00%
Goodwill $ 34.3
Percentage of outstanding shares acquired46.00%50.00%
Cash tender offer price (per share) | $ / shares $ 1.50
Shares acquired | shares7.6
Customer relationships $ 4
SuperSonic Imagine | Customer Relationships
Business Acquisition [Line Items]
Intangible assets useful life9 years
SuperSonic Imagine | Developed Technology
Business Acquisition [Line Items]
Intangible assets useful life9 years
SuperSonic Imagine | Trade Names
Business Acquisition [Line Items]
Intangible assets useful life8 years 7 months 6 days
Health Beacons
Business Acquisition [Line Items]
Consideration transferred $ 19.7
Goodwill6.2
Intangible assets, net10.7
Holdback2.3
Remainder of purchase price $ 2.8
Alpha Imaging
Business Acquisition [Line Items]
Consideration transferred $ 18
Purchase price withheld0.9
Holdback $ 1
Alpha Imaging | Customer Relationships
Business Acquisition [Line Items]
Intangible assets useful life5 years

Business Combinations Business

Business Combinations Business Combinations - Purchase Price Allocation (Details) - USD ($) $ in MillionsDec. 26, 2020Sep. 26, 2020Aug. 23, 2020Nov. 21, 2019
Business Acquisition [Line Items]
Goodwill $ 2,663.3 $ 2,657.9
SuperSonic Imagine
Business Acquisition [Line Items]
Cash $ 2.6
Accounts receivable7.1
Inventory10
Property, plant and equipment6.5
Other assets4.3
Accounts payable and accrued expenses24.5
Deferred revenue1.8
Short and long-term debt(8.8)
Other liabilities(3.8)
Developed technology38.3
Customer relationships4
Trade names3
Deferred income taxes, net(1.9)
Goodwill34.3
Purchase Price $ 69.3
Acessa Health
Business Acquisition [Line Items]
Cash $ 1.2
Inventory4
Other assets4.4
Accounts payable and accrued expenses4.7
Developed technology127
Trade names1.2
Deferred income taxes, net(20.2)
Goodwill48.4
Purchase Price $ 161.3

Trade Receivables and Allowan_3

Trade Receivables and Allowance for Credit Losses (Details) - USD ($) $ in Millions3 Months Ended
Dec. 26, 2020Dec. 28, 2019
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Period $ 31.6 $ 17.8
Credit Loss9.1 0.3
Reclassified as Assets held for sale0 (5.9)
Write- offs and Payments(1.3)(0.5)
Balance at End of Period $ 39.4 $ 11.7

Disposition (Details)

Disposition (Details) - USD ($)Nov. 20, 2019Dec. 26, 2020Sep. 26, 2020Dec. 28, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Intangible asset and equipment impairment charges $ 0 $ 30,200,000
Disposal Group, Including Discontinued Operation, Operating Income (Loss)46,500,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Medical Aesthetics
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Consideration $ 205,000,000
Proceeds from Divestiture of Businesses $ 153,400,000
Indemnification liabily $ 10,900,000
Disposal Group, Including Discontinued Operation, Segment that Includes Disposal Group150.0 million
Cost of revenues
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Intangible asset and equipment impairment charges25,800,000
Operating Expense
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Intangible asset and equipment impairment charges $ 4,400,000

Borrowings and Credit Arrange_3

Borrowings and Credit Arrangements - Company's Borrowings (Detail) - USD ($) $ in MillionsDec. 26, 2020Sep. 26, 2020Mar. 31, 2020
Debt Instrument [Line Items]
Current portion of long-term debt $ 74.9 $ 324.9
Total long-term debt obligations2,689.5 2,713.9
Total debt obligations2,764.4 3,038.8
Term Loan
Debt Instrument [Line Items]
Current portion of long-term debt74.9 74.9
Long term debt obligations. excluding convertible notes1,361.8 1,379.9
Revolver
Debt Instrument [Line Items]
Current portion of long-term debt0 250 $ 750
2025 Senior Notes
Debt Instrument [Line Items]
Long term debt obligations. excluding convertible notes0 939.4
2028 Senior Notes
Debt Instrument [Line Items]
Long term debt obligations. excluding convertible notes394.8 394.6
2029 Senior Notes
Debt Instrument [Line Items]
Long term debt obligations. excluding convertible notes $ 932.9 $ 0

Borrowings and Credit Arrange_4

Borrowings and Credit Arrangements - Additional Information (Detail) - USD ($)Oct. 15, 2020Sep. 28, 2020Dec. 26, 2020Dec. 28, 2019Sep. 26, 2020Mar. 31, 2020Dec. 17, 2018
Debt Instrument [Line Items]
Long-term debt $ 2,764,400,000 $ 3,038,800,000
Debt extinguishment losses21,600,000 $ 0
Long-term Debt, Current Maturities $ 74,900,000 324,900,000
Debt Instrument, Redemption Price, Percentage40.00%
Amended Term Loan | Percentage Added to Eurodollar Rate
Debt Instrument [Line Items]
Basis spread on variable rate1.00%
Revolver
Debt Instrument [Line Items]
Long-term Debt, Current Maturities $ 0 250,000,000 $ 750,000,000
Debt Instrument, Unused Borrowing Capacity, Amount1,500,000,000
Revolving credit facility borrowings $ 1,500,000,000
Accounts Receivable Securitization
Debt Instrument [Line Items]
Repayments of Debt250,000,000
Senior Notes | 2025 Senior Notes
Debt Instrument [Line Items]
Debt extinguishment losses $ (21,600,000)
Stated interest rate4.375%
Senior notes, face amount $ 950,000,000 $ 950,000,000
Interest Expense, Debt5,800,000
Debt Issuance Costs, Net7,900,000
Debt Instrument, Unamortized Discount $ 6,400,000
Premium payment20,800,000
Extinguishment of Debt, Amount $ 970,800,000
Senior Notes | 2028 Senior Notes
Debt Instrument [Line Items]
Stated interest rate4.625%
Senior Notes | 2029 Senior Notes
Debt Instrument [Line Items]
Stated interest rate3.25%3.25%
Senior notes $ 950,000,000
Debt Instrument, Offering Price, Percent Of Face Value1
Debt Instrument, Redemption Price, Percentage100.00%
Senior Notes | 2029 Senior Notes | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage103.25%
Senior Notes | 2029 Senior Notes | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage101.625%
Senior Notes | 2029 Senior Notes | Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage100.813%
Senior Notes | 2029 Senior Notes | Debt Instrument, Redemption, Period Four
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage100.00%
Senior Notes | 2029 Senior Notes | Debt Instrument, Redemption, Period Five
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage101.00%
2028 Senior Notes
Debt Instrument [Line Items]
Senior notes, face amount $ 400,000,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Repayments of Debt250,000,000
Term Loan
Debt Instrument [Line Items]
Long-term Debt, Current Maturities74,900,000 $ 74,900,000
Debt Instrument, Unused Borrowing Capacity, Amount $ 1,400,000,000

Borrowings and Credit Arrange_5

Borrowings and Credit Arrangements - Interest Expense Credit Agreement (Details) - USD ($) $ in Millions3 Months Ended
Dec. 26, 2020Dec. 28, 2019
Line of Credit Facility [Line Items]
Interest expense $ 15.1 $ 15.7
Credit Agreement
Line of Credit Facility [Line Items]
Interest expense $ 6.5 $ 13.6
Weighted average interest rate1.23%3.11%
Interest rate at end of period1.15%3.04%

Borrowings and Credit Arrange_6

Borrowings and Credit Arrangements - Interest Expense Senior Notes (Details) - USD ($) $ in Millions3 Months Ended
Dec. 26, 2020Dec. 28, 2019Sep. 28, 2020
Line of Credit Facility [Line Items]
Interest expense $ 15.1 $ 15.7
Senior Notes | 2028 Senior Notes
Line of Credit Facility [Line Items]
Stated interest rate4.625%
Interest expense $ 4.8 4.8
Senior Notes | 2025 Senior Notes
Line of Credit Facility [Line Items]
Stated interest rate4.375%
Interest expense $ 2.3 10.9
Senior Notes | 2029 Senior Notes
Line of Credit Facility [Line Items]
Stated interest rate3.25%3.25%
Interest expense $ 8 $ 0

Derivatives - Additional Inform

Derivatives - Additional Information (Details) - USD ($) $ in Millions3 Months Ended12 Months Ended
Dec. 26, 2020Dec. 28, 2019Sep. 28, 2019Sep. 29, 2018
Derivative [Line Items]
Interest Rate Cap Agreements Aggregate Premium Payable $ 1.5 $ 3.7
Borrowed principal $ 1,000
Notional Amount299.5
Amount of gain (loss) recognized in other comprehensive income, net of taxes:0.7 $ 4
Interest Rate Swap
Derivative [Line Items]
Derivative notional amount $ 1,000
Variable interest rate1.23%
Interest rate swap at fair value $ 30.7
Amount of gain (loss) recognized in other comprehensive income, net of taxes:0.9 $ (4.3)
Foreign Exchange Option
Derivative [Line Items]
Derivative notional amount $ 245.2

Derivatives - Schedule Of Chang

Derivatives - Schedule Of Change in Fair Value Of Derivative Contracts (Details) - USD ($) $ in Millions3 Months Ended
Dec. 26, 2020Dec. 28, 2019Sep. 26, 2020
Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net $ (4.1) $ 0
Unrealized Gain (Loss) on Derivatives(14.6)(3)
Forward foreign currency contracts | Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net(2.9)0
Unrealized Gain (Loss) on Derivatives(6.6)(1.5)
Forward foreign currency contracts | Derivatives not designated as hedging instruments | Accrued Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Interest rate swap at fair value6 $ 0
Foreign currency option contracts | Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net(1.2)0
Unrealized Gain (Loss) on Derivatives(8) $ (1.5)
Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Interest rate swap at fair value30.7
Interest Rate Swap | Derivatives not designated as hedging instruments | Accrued Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Interest rate swap at fair value11.1 8.2
Interest Rate Swap | Derivatives not designated as hedging instruments | Other Noncurrent Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Interest rate swap at fair value $ 19.6 $ 23

Derivatives - Fair Value of Der

Derivatives - Fair Value of Derivative Financial Instruments (Details) - USD ($) $ in MillionsDec. 26, 2020Sep. 26, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liability $ 30.7 $ 31.2
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate swap at fair value30.7
Derivatives not designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset, Fair Value, Gross Asset0.8 11.2
Derivatives not designated as hedging instruments | Interest Rate Swap | Accrued Liabilities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate swap at fair value11.1 8.2
Derivatives not designated as hedging instruments | Forward foreign currency contracts | Prepaid expenses and other current assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate swap at fair value0 1.1
Derivatives not designated as hedging instruments | Forward foreign currency contracts | Accrued Liabilities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate swap at fair value6 0
Derivatives not designated as hedging instruments | Foreign currency option contracts | Prepaid expenses and other current assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset, Fair Value, Gross Asset $ 0.8 $ 10.1

Derivatives - Schedule of Cash

Derivatives - Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions3 Months Ended
Dec. 26, 2020Dec. 28, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in other comprehensive income, net of taxes: $ (0.7) $ (4)
Changes in value of hedged interest rate swaps and interest rate caps, net of tax of $(0.2) for the three months ended December 26, 2020 and $1.7 for the three months ended December 28,2019.0.7 4
Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in other comprehensive income, net of taxes:(0.9)4.3
Interest rate cap agreements
Derivative Instruments, Gain (Loss) [Line Items]
Changes in value of hedged interest rate swaps and interest rate caps, net of tax of $(0.2) for the three months ended December 26, 2020 and $1.7 for the three months ended December 28,2019. $ (0.2) $ (0.3)

Derivatives - Gain (Loss) on Fa

Derivatives - Gain (Loss) on Fair Value Hedges Recognized in Earnings (Details) - USD ($) $ in Millions3 Months Ended
Dec. 26, 2020Dec. 28, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments not designated as hedges, gain (loss) $ (18.7) $ (3.2)
Forward foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Forward foreign currency contracts(9.5)(1.5)
Foreign currency option contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments not designated as hedges, gain (loss) $ (9.2) $ (1.7)

Commitments and Contingencies (

Commitments and Contingencies (Detail)Mar. 04, 2016petitionDec. 26, 2020USD ($)Jul. 27, 2018USD ($)
Minerva
Loss Contingencies [Line Items]
Assessed damages $ 4,800,000
Petitions filed | petition2
Medical Aesthetics
Loss Contingencies [Line Items]
Legal Accrual $ 8,500,000

Net Income (Loss) Per Share - R

Net Income (Loss) Per Share - Reconciliation of Basic and Diluted Share Amounts (Detail) - shares shares in Thousands3 Months Ended
Dec. 26, 2020Dec. 28, 2019
Earnings Per Share [Line Items]
Basic weighted average common shares outstanding258,605 267,893
Weighted average common stock equivalents from assumed exercise of stock options and issuance of stock units3,180 1,828
Diluted weighted average common shares outstanding261,785 269,721
Outstanding Stock Options and stock units
Weighted-average anti-dilutive shares related to:
Weighted-average anti-dilutive shares (in shares)340 1,290
Restricted stock units
Weighted-average anti-dilutive shares related to:
Weighted-average anti-dilutive shares (in shares)0 1

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Compensation Expense in Consolidated Statements of Operations (Detail) - USD ($) $ in Millions3 Months Ended
Dec. 26, 2020Dec. 28, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense $ 18.6 $ 18.1
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense2.2 2
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense2.5 2.4
Selling and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense2.7 2.8
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense $ 11.2 $ 10.9

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions3 Months Ended
Dec. 26, 2020Dec. 28, 2019
Stock option plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted0.6 0.8
Weighted-average exercise prices $ 68.35 $ 45.67
Share-based compensation, stock option outstanding4.6
Weighted-average exercise price of options outstanding $ 44.13
Unrecognized compensation expense $ 26
Weighted-average period for recognition of unrecognized stock-based compensation, years2 years 8 months 12 days
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted0.5 0.7
Restricted stock units (RSUs), weighted average grant date fair values $ 68.35 $ 45.64
Unrecognized compensation expense $ 83.2
Weighted-average period for recognition of unrecognized stock-based compensation, years2 years 3 months 18 days
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted0.1 0.1
Restricted stock units (RSUs), weighted average grant date fair values $ 68.35 $ 45.65
Market Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted0.1 0.1
Restricted stock units (RSUs), weighted average grant date fair values $ 82.31 $ 43.78
Minimum eligible percentage to receive target number of shares of company's common stock0.00%
Maximum eligible percentage to receive target number of shares of company's common stock200.00%
Performance stock units vesting period3 years
PSU Free Cash Flow [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted0.1
Restricted stock units (RSUs), weighted average grant date fair values $ 68.35
Maximum eligible percentage to receive target number of shares of company's common stock200.00%
RSU, PSU, MSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number3.1

Stock-Based Compensation - Weig

Stock-Based Compensation - Weighted-Average Assumptions Utilized to Value Stock Options (Detail) - USD ($)3 Months Ended
Dec. 26, 2020Dec. 28, 2019
Share-based Payment Arrangement [Abstract]
Risk-free interest rate0.40%1.70%
Expected volatility35.00%33.60%
Expected life (in years)4 years 9 months 18 days4 years 9 months 18 days
Dividend yield $ 0 $ 0
Weighted average fair value of options granted $ 19.86 $ 13.83

Other Balance Sheet Informati_3

Other Balance Sheet Information - Inventories (Detail) - USD ($) $ in MillionsDec. 26, 2020Sep. 26, 2020
Balance Sheet Related Disclosures [Abstract]
Raw materials $ 152.6 $ 152.3
Work-in-process60.1 46.5
Finished goods207.5 196.3
Inventories $ 420.2 $ 395.1

Other Balance Sheet Informati_4

Other Balance Sheet Information - Property, Plant and Equipment (Detail) - USD ($) $ in MillionsDec. 26, 2020Sep. 26, 2020
Balance Sheet Related Disclosures [Abstract]
Equipment $ 483.1 $ 460.7
Equipment under customer usage agreements478.3 456.8
Building and improvements173.7 167.3
Leasehold improvements45.2 44.3
Land40.8 40.7
Furniture and fixtures16.6 16.1
Property, plant and equipment, gross1,237.7 1,185.9
Less – accumulated depreciation and amortization(723.2)(694.4)
Property, plant and equipment, net $ 514.5 $ 491.5

Business Segments and Geograp_3

Business Segments and Geographic Information - Additional Information (Detail)3 Months Ended6 Months Ended
Dec. 26, 2020USD ($)Jun. 27, 2020SegmentDec. 28, 2019USD ($)Mar. 28, 2020Segment
Segment Reporting Disclosure [Line Items]
Number of reportable segments | Segment5 5
Revenues $ 1,609,800,000 $ 850,500,000
Intersegment
Segment Reporting Disclosure [Line Items]
Revenues $ 0 $ 0

Business Segments and Geograp_4

Business Segments and Geographic Information - Segment Information (Detail) - USD ($) $ in Millions3 Months Ended
Dec. 26, 2020Dec. 28, 2019Sep. 26, 2020
Segment Reporting Information [Line Items]
Total revenues $ 1,609.8 $ 850.5
Income (loss) from operations885.5 124.8
Depreciation and amortization92.8 94.4
Capital expenditures44.8 31.5
Identifiable assets7,550.7 $ 7,195.8
Diagnostics
Segment Reporting Information [Line Items]
Total revenues1,128.2 311.5
Income (loss) from operations784.5 49.5
Depreciation and amortization56.3 59.1
Capital expenditures38.3 18.1
Identifiable assets2,177.8 2,161.4
Breast Health
Segment Reporting Information [Line Items]
Total revenues332.7 331.1
Income (loss) from operations86.3 93.9
Depreciation and amortization13.1 10
Capital expenditures2.9 6.4
Identifiable assets1,203.4 1,200.9
Medical Aesthetics
Segment Reporting Information [Line Items]
Total revenues0 65.3
Income (loss) from operations0 (51)
Depreciation and amortization0 4.1
Capital expenditures0 1.4
GYN Surgical
Segment Reporting Information [Line Items]
Total revenues124 119.1
Income (loss) from operations13.7 31.5
Depreciation and amortization23.2 21
Capital expenditures3.3 5.3
Identifiable assets1,418.5 1,438.7
Skeletal Health
Segment Reporting Information [Line Items]
Total revenues24.9 23.5
Income (loss) from operations1 0.9
Depreciation and amortization0.2 0.2
Capital expenditures0 0.1
Identifiable assets31.3 38.9
Corporate
Segment Reporting Information [Line Items]
Capital expenditures0.3 $ 0.2
Identifiable assets $ 2,719.7 $ 2,355.9

Business Segments and Geograp_5

Business Segments and Geographic Information - Revenues by Geography (Detail)3 Months Ended
Dec. 26, 2020Dec. 28, 2019
Schedule Of Geographical Segments [Line Items]
Revenues100.00%100.00%
United States
Schedule Of Geographical Segments [Line Items]
Revenues70.70%74.40%
Europe
Schedule Of Geographical Segments [Line Items]
Revenues21.00%12.90%
Asia-Pacific
Schedule Of Geographical Segments [Line Items]
Revenues5.50%8.30%
Rest of World
Schedule Of Geographical Segments [Line Items]
Revenues2.80%4.40%

Income Taxes (Details)

Income Taxes (Details) - USD ($)3 Months Ended
Dec. 26, 2020Dec. 28, 2019
Segment Reporting Information [Line Items]
Company's effective tax rate21.50%29610.00%
Medical Aesthetics
Segment Reporting Information [Line Items]
Unrecognized Tax Benefits $ 312,200,000

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill - Schedule of Intangible Assets (Detail) - USD ($) $ in MillionsDec. 26, 2020Sep. 26, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value $ 4,943.9 $ 4,931.1
Accumulated Amortization3,699.1 3,623.6
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value4,056.1 4,054
Accumulated Amortization2,969.4 2,907.2
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value560.5 549.1
Accumulated Amortization486.7 477.8
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value245.7 245.5
Accumulated Amortization183.8 181.2
Non-competition agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value1.6 1.5
Accumulated Amortization1.5 1.3
Business licenses
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value2.5 2.4
Accumulated Amortization2.4 2.3
Total acquired intangible assets
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value4,866.4 4,852.5
Accumulated Amortization3,643.8 3,569.8
Internal-use software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value51.9 51.8
Accumulated Amortization43.8 43.2
Capitalized software embedded in products
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value25.6 26.8
Accumulated Amortization $ 11.5 $ 10.6

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Schedule of Estimated Amortization Expense (Detail) $ in MillionsDec. 26, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of Fiscal 2021 $ 213.3
Fiscal 2022274.3
Fiscal 2023178
Fiscal 2024166.6
Fiscal 2025 $ 153.2

Product Warranties - Product Wa

Product Warranties - Product Warranty Activity (Detail) - USD ($) $ in Millions3 Months Ended
Dec. 26, 2020Dec. 28, 2019
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at Beginning of Period $ 9.9 $ 13.9
Provisions3.3 3.8
Standard and Extended Product Warranty Accrual, Additions from Business Acquisition0 0.5
Settlements/ Adjustments(3.7)(4.1)
Balance at End of Period $ 9.5 $ 14.1

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Millions3 Months Ended
Dec. 26, 2020Dec. 28, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance $ 2,705.2 $ 2,115.7
Changes in foreign currency translation adjustment17.8 8.3
Other comprehensive income (loss) before reclassifications0.7 4
Ending balance3,267.9
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance(22.9)(41.4)
Changes in foreign currency translation adjustment17.8 8.3
Amounts reclassified to statement of income0 0
Ending balance(5.1)(33.1)
Pension Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance(1.8)(1.7)
Other comprehensive income (loss) before reclassifications0 0
Amounts reclassified to statement of income0 0
Ending balance(1.8)(1.7)
Total
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance(49.7)(42.3)
Amounts reclassified to statement of income(0.5)1.3
Other comprehensive income (loss) before reclassifications18.5 12.3
Ending balance(30.7)(28.7)
Interest rate caps - derivative | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance(0.9)(2.7)
Other comprehensive income (loss) before reclassifications(0.2)(0.3)
Amounts reclassified to statement of income(0.5)(1.3)
Ending balance(0.6)(1.7)
Interest Rate Swap | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance(24.1)3.5
Other comprehensive income (loss) before reclassifications0.9 4.3
Amounts reclassified to statement of income0 0
Ending balance $ (23.2) $ 7.8

Share Repurchase Share repurcha

Share Repurchase Share repurchase (Details) - USD ($) shares in Millions3 Months Ended
Dec. 26, 2020Dec. 11, 2019
December 11, 2019
share repurchase plan [Line Items]
Stock Repurchase Program, Authorized Amount $ 500,000,000
December 11, 2020
share repurchase plan [Line Items]
Stock Repurchase Program, Authorized Amount $ 1,000,000,000
December 11, 2019
share repurchase plan [Line Items]
Stock Repurchased During Period, Shares1.5
Repurchase of equity $ 101,300,000