v3.25.2
Fair Value Measurements (Tables)
 9 Months Ended
Jun. 28, 2025
Fair Value Disclosures [Abstract]  
Fair Value Assets and Liabilities Measured on Recurring Basis
The following table summarizes certain fair value information at June 28, 2025 and September 28, 2024 for investment assets and other liabilities measured at fair value on a recurring basis, as well as the carrying amount of certain investments.

  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)
June 28, 2025
Assets:
Money market mutual funds
$461.9 $461.9 $— $— 
U.S. Treasury securities
380.9 380.9 — — 
Interest rate swaps4.5 — 4.5 — 
Forward foreign currency contracts0.1 — 0.1 — 
Total$847.4 $842.8 $4.6 $— 
Liabilities:
Forward foreign currency contracts11.1 — 11.1 — 
Total$11.1 $— $11.1 $— 
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 
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 nine month periods ended June 28, 2025 and June 29, 2024 were as follows:
Three Months Ended
Nine Months Ended
June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Balance at beginning of period$1.1 $1.1 $1.1 $2.0 
Contingent consideration recorded at acquisition— — — — 
Fair value adjustments— — — 1.7 
Payments(1.1)— (1.1)(2.6)
Balance at end of period$— $1.1 $— $1.1 
Schedule of Cash and Cash Equivalents
The Company’s cash and cash equivalents and short investments as of June 28, 2025 were as follows:
ValuationBalance Sheet Classification
in millionsCostUnrealized GainsUnrealized LossesFair ValueCash and cash equivalentsInvestments
Cash
$1,036.3 $— $— $1,036.3 $1,036.3 $— 
Money market mutual funds
461.9 — — 461.9 461.9 — 
U.S. Treasury debt securities
380.8 0.1 — 380.9 237.0 143.9 
Total
$1,879.0 $0.1 $— $1,879.1 $1,735.2 $143.9 
Debt Securities, Available-for-Sale
The fair value of the available-for-sale securities by contractual maturity as of June 28, 2025 and September 28, 2024 were as follows:

June 28, 2025September 28, 2024
in millions
Fair Value
Fair Value
Due in three months or less
$698.9 $723.1 
Due after three months through one year
143.9 173.4 
Due after one year through five years
— 96.4 
Total available-for-sale securities
$842.8 $992.9