v3.25.1
Fair Value Measurements (Tables)
 6 Months Ended
Mar. 29, 2025
Fair Value Disclosures [Abstract]  
Fair Value Assets and Liabilities Measured on Recurring Basis
  Fair Value at Reporting Date Using
 
Fair Value
Quoted Prices in
Active Market for
Identical Assets
(Level 1)		Significant
Other
Observable
Inputs (Level 2)		Significant
Unobservable
Inputs (Level 3)
March 29, 2025
Assets:
Money market mutual funds
$180.3 $180.3 $— $— 
U.S. Treasury securities
191.5 191.5 — — 
Interest rate swaps5.9 — 5.9 — 
Forward foreign currency contracts3.1 — 3.1 — 
Total$380.8 $371.8 $9.0 $— 
Liabilities:
Contingent consideration$1.1 $— $— $1.1 
Forward foreign currency contracts0.2 — 0.2 — 
Total$1.3 $— $0.2 $1.1 
September 28, 2024
Assets:
Money market mutual funds
$341.7 $341.7 $— $— 
U.S. Treasury securities
626.3 626.3 — — 
Commercial paper
24.9 24.9 — — 
Interest rate swaps3.1 — 3.1 — 
Foreign currency option contracts0.8 — 0.8 — 
Total$996.8 $992.9 $3.9 $— 
Liabilities:
Contingent consideration$1.1 $— $— $1.1 
Interest rate swaps
0.2 — 0.2 — 
Forward foreign currency contracts12.6 — 12.6 — 
Total$13.9 $— $12.8 $1.1 

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 and six month periods ended March 29, 2025 and March 30, 2024 were as follows:
Three Months Ended
Six Months Ended
March 29, 2025March 30, 2024March 29, 2025March 30, 2024
Balance at beginning of period$1.1 $3.7 $1.1 $2.0 
Contingent consideration recorded at acquisition— — — — 
Fair value adjustments— — — 1.7 
Payments— (2.6)— (2.6)
Balance at end of period$1.1 $1.1 $1.1 $1.1 
Schedule of Cash and Cash Equivalents
The Company’s cash and cash equivalents and short investments as of March 29, 2025 were as follows:

ValuationBalance Sheet Classification
in millionsCostUnrealized GainsUnrealized LossesFair ValueCash and cash equivalentsInvestments
Cash
$1,249.2 $— $— $1,249.2 $1,249.2 $— 
Money market mutual funds
180.3 — — 180.3 180.3 — 
U.S. Treasury debt securities
191.2 0.3 — 191.5 — 191.5 
Total
$1,620.7 $0.3 $— $1,621.0 $1,429.5 $191.5 
Debt Securities, Available-for-Sale
The fair value of the available-for-sale securities by contractual maturity as of March 29, 2025 and September 28, 2024 were as follows:

March 29, 2025September 28, 2024
in millions
Fair Value
Fair Value
Due in three months or less
$180.3 $723.1 
Due after three months through one year
191.5 173.4 
Due after one year through five years
— 96.4 
Total available-for-sale securities
$371.8 $992.9