v3.26.1
Fair Value Measurements
 9 Months Ended
Jun. 28, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Assets and liabilities measured at fair value on a recurring basis (in millions):
  Fair Value Measurements at Reporting Date Using
 Balance at
Jun 28, 2026		Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant  Other Observable Inputs
(Level 2)		Significant Unobservable  Inputs
(Level 3)
Assets:
Cash and cash equivalents$3,449.8 $3,449.8 $— $— 
Short-term investments:
Available-for-sale debt securities:
Corporate debt securities50.6 — 38.0 12.6 
Mortgage and other asset-backed securities0.3 — 0.3 — 
State and local government obligations2.8 — 2.8 — 
U.S. government treasury securities23.1 23.1 — — 
Total available-for-sale debt securities76.8 23.1 41.1 12.6 
Marketable equity securities83.7 83.7 — — 
Total short-term investments160.5 106.8 41.1 12.6 
Prepaid expenses and other current assets:
Derivative assets30.1 — 30.1 — 
Long-term investments:
Available-for-sale debt securities:
Corporate debt securities153.2 — 124.2 29.0 
Mortgage and other asset-backed securities69.2 — 69.2 — 
U.S. government treasury securities90.8 90.8 — — 
Total available-for-sale debt securities313.2 90.8 193.4 29.0 
Total long-term investments313.2 90.8 193.4 29.0 
Other long-term assets:
Derivative assets422.4 — 422.4 — 
Total assets4,376.0 3,647.4 687.0 41.6 
Liabilities:
Accrued liabilities:
Derivative liabilities0.8 — 0.8 — 
Other long-term liabilities:
Derivative liabilities19.3 — 19.3 — 
Total liabilities$20.1 $— $20.1 $— 
  Fair Value Measurements at Reporting Date Using
 Balance at
Sep 28, 2025		Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)
Significant
Unobservable  Inputs
(Level 3)
Assets:
Cash and cash equivalents$3,219.8 $3,219.8 $— $— 
Short-term investments:
Available-for-sale debt securities:
Corporate debt securities67.8 — 55.9 11.9 
Mortgage and other asset-backed securities0.4 — 0.4 — 
State and local government obligations1.1 — 1.1 — 
U.S. government treasury securities82.6 82.6 — — 
Total available-for-sale debt securities151.9 82.6 57.4 11.9 
Marketable equity securities95.3 95.3 — — 
Total short-term investments247.2 177.9 57.4 11.9 
Prepaid expenses and other current assets:
Derivative assets15.9 — 15.9 — 
Long-term investments:
Available-for-sale debt securities:
Corporate debt securities132.2 — 105.5 26.7 
Mortgage and other asset-backed securities75.7 — 75.7 — 
State and local government obligations2.7 — 2.7 — 
U.S. government treasury securities36.3 36.3 — — 
Total available-for-sale debt securities246.9 36.3 183.9 26.7 
Total long-term investments246.936.3183.926.7
Other long-term assets:
Derivative assets278.6 — 278.6 — 
Total assets4,008.4 3,434.0 535.8 38.6 
Liabilities:
Accrued liabilities:
Derivative liabilities7.1 — 7.1 — 
Other long-term liabilities:
Derivative liabilities20.9 — 20.9 — 
Total liabilities$28.0 $— $28.0 $— 
There were no material transfers between levels, and there was no significant activity within Level 3 instruments during the periods presented. The fair values of any financial instruments presented above exclude the impact of netting assets and liabilities when a legally enforceable master netting agreement exists.
Gross unrealized holding gains and losses on available-for-sale debt securities and marketable equity securities were not material as of June 28, 2026, and September 28, 2025.
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Assets and liabilities recognized or disclosed at fair value on the consolidated financial statements on a nonrecurring basis include items such as property, plant and equipment, ROU assets, goodwill and other intangible assets, equity and other investments, and other assets. These assets are measured at fair value if determined to be impaired.
The estimated fair value of our long-term debt based on the quoted market price (Level 2) is included at Note 8, Debt. There were no material fair value adjustments during the three quarters ended June 28, 2026, and June 29, 2025.