v3.26.1
FAIR VALUE
 9 Months Ended
Jul. 03, 2026
Fair Value Disclosures [Abstract]  
FAIR VALUE FAIR VALUE
Assets and Liabilities Measured at Fair Value on a Recurring Basis
    The fair values of certain of the Company’s financial instruments, including bank deposits included in cash and cash equivalents, accounts receivable, net and accounts payable, approximate their fair values due to their short maturities. The carrying value of the Company’s Term Loan, as defined in Note 6, Borrowings, approximates its fair value due to its variable interest rate, which resets periodically based on the SOFR benchmark and reflects current market conditions. The fair value of the Term Loan is classified within Level 2 of the fair value hierarchy, as it is based on observable market inputs, including current interest rates for similar secured, variable‑rate instruments. The Company has elected to use the income approach to value its derivative instruments using standard valuation techniques and Level 2 inputs, such as currency spot rates, forward points and credit default swap spreads.
    In the tables below, the Company has segregated all assets and liabilities that are measured at fair value on a recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date.
Fair Value at July 3, 2026
(In millions)
Quoted Prices in Active Markets
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Total
Assets:
Derivative assets
$— $2.6 $— $2.6 
Deferred compensation plan(1)
8.3 — — 8.3 
Marketable equity securities1.4 — — 1.4 
Total assets measured at fair value$9.7 $2.6 $— $12.3 
Liabilities:
Derivative liabilities
$— $9.3 $— $9.3 
Total liabilities measured at fair value$— $9.3 $— $9.3 
(1) The assets held under the Company’s deferred compensation plan are classified in Level 1, as they relate primarily to publicly traded mutual funds for which there are observable market prices in active markets.
Fair Value at October 3, 2025
(In millions)
Quoted Prices in Active Markets
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Total
Assets:
Commercial paper$— $2.0 $— $2.0 
Corporate notes/bonds— 4.0 — 4.0 
Government agencies— 2.0 — 2.0 
U.S. treasury bills— 15.8 — 15.8 
Deferred compensation plan(1)
8.4 — — 8.4 
Marketable equity securities3.6 — — 3.6 
Total assets measured at fair value$12.0 $23.8 $— $35.8 
Liabilities:
Derivative liabilities$— $10.4 $— $10.4 
Total liabilities measured at fair value$— $10.4 $— $10.4 
(1) The assets held under the Company’s deferred compensation plan are classified in Level 1, as they relate primarily to publicly traded mutual funds for which there are observable market prices in active markets.
Marketable Debt Securities
    As of July 3, 2026, the Company had no marketable debt securities. During the three and nine months ended July 3, 2026, there were no gross realized gains or losses from the sale of certain marketable debt securities that were reclassified out of accumulated other comprehensive loss.
    The following is a summary of marketable debt securities, which are included within the cash and cash equivalents, marketable securities, and other assets balances on the Condensed Consolidated Balance Sheets.
October 3, 2025
(In millions)Amortized CostsUnrealized LossesFair Value
Commercial paper$2.0 $— $2.0 
Corporate notes/bonds4.1 (0.1)4.0 
U.S. treasury bills15.8 — 15.8 
Government agencies2.0 — 2.0 
Total marketable debt securities$23.9 $(0.1)$23.8 
    The following tables summarize the balance sheet locations for marketable debt securities:
October 3, 2025
(In millions)Commercial PaperCorporate Notes/BondsGovernment AgenciesTreasury BillsTotal
Cash and cash equivalents$— $— $— $13.7 $13.7 
Marketable securities2.0 4.0 2.0 2.1 10.1 
Total marketable debt securities$2.0 $4.0 $2.0 $15.8 $23.8