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Fair Value Measurements (Tables)
 3 Months Ended
Apr. 02, 2016
Sep. 26, 2015
Fair Value Disclosures [Abstract]    
Valuation of Financial Instruments Carried at Fair Value
 
 
 
 
Fair Value
 
 
Fair Value Hierarchy
 
April 2,
2016
 
December 31,
2015
Measured at fair value on a recurring basis:
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
Investment securities
 
Level 1
 
$
38.6

 
$
14.9

 
 
 
 
 
 
 
Foreign currency forward contracts
 
Level 2
 
$
9.4

 
$
4.8

Funds associated with Israeli post-employment benefits
 
Level 2
 
17.6

 
17.2

Total level 2 assets
 
 
 
$
27.0

 
$
22.0

 
 
 
 
 
 
 
Tysabri® royalty stream - at fair value (restated)
 
Level 3
 
$
5,020.0

 
$
5,310.0

 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
Interest rate swap agreements
 
Level 2
 
$
—

 
$
0.3

Foreign currency forward contracts
 
Level 2
 
3.4

 
3.9

Total level 2 liabilities
 
 
 
$
3.4

 
$
4.2

 
 
 
 
 
 
 
Contingent consideration
 
Level 3
 
$
48.0

 
$
17.9

 
 
 
 
 
 
 
Measured at fair value on a non-recurring basis:
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
Goodwill (restated)(1)
 
Level 3
 
$
1,593.3

 
$
—

Indefinite-lived intangible assets(2)
 
Level 3
 
1,082.0

 
1,031.8

Assets held for sale, net
 
Level 3
 
—

 
37.5

Total level 3 assets
 
 
 
$
2,675.3

 
$
1,069.3



(1)
Goodwill with a carrying amount of $1,723.8 million was written down to its implied fair value of $1,593.3 million, resulting in an impairment charge of $130.5 million, which was included in Impairment charges on the Condensed Consolidated Statements of Operations for the three months ended April 2, 2016.

(2)
Indefinite-lived intangible assets with a carrying amount of $1,355.4 million were written down to a fair value of $1,082.0 million resulting in total impairment charges of $273.4 million, which was included in Impairment charges on the Condensed Consolidated Statements of Operations for the three months ended April 2, 2016.
  
Reconciliation of Level 3 Assets  

The following table summarizes the change in our Condensed Consolidated Balance Sheet for the royalty rights and our fair value adjustment that is a Level 3 measurement under ASC 820, which is included in our Condensed Consolidated Statement of Operations for the three months ended April 2, 2016 and the six months ended December 31, 2015 (in millions):

 
Three Months Ended
 
Six Months Ended
 
April 2,
2016
 
December 31,
2015
Tysabri® Royalty Stream - at fair value
 
 
 
Beginning balance
$
5,310.0

 
$
5,420.0

Royalties earned
(85.6
)
 
(167.3
)
Change in fair value
(204.4
)
 
57.3

Ending balance
$
5,020.0

 
$
5,310.0
Reconciliation of Level 3 Liabilities  
The table below presents a reconciliation for liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (in millions):

 
Three Months Ended
 
April 2,
2016
 
March 28,
2015
Contingent Consideration
 
 
 
Beginning balance:
$
17.9

 
$
12.4

Net realized losses
0.3

 
—

Purchases or additions
29.5

 
—

Foreign currency effect
0.3

 
—

Ending balance:
$
48.0

 
$
12.4