Fair Value Measurements (Tables)

12 Months Ended

Sep. 28, 2019

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Subject to Fair Value Measurements on a Recurring Basis

Financial assets and liabilities subject to fair value measurements on a recurring basis are as follows:

	September 28, 2019
	Level 1		Level 2		Level 3		Total
Assets
Currency contracts1	$	—	$	907	$	—	$	907
Total assets	—		907		—		907
Liabilities
Currency contracts1	—		251		—		251
Total liabilities	$	—	$	251	$	—	$	251

	September 29, 2018
	Level 1		Level 2		Level 3		Total
Assets
Currency contracts1	$	—	$	1,080	$	—	$	1,080
Interest rate swaps2	—		7,411		—		7,411
Total assets	—		8,491		—		8,491
Liabilities
Currency contracts1	—		173		—		173
Total liabilities	$	—	$	173	$	—	$	173

¹  Based on observable market transactions of spot currency rates and forward currency rates on equivalently-termed instruments. Carrying amounts of the financial assets and liabilities are equal to the fair value. See Note 7 for additional information on derivative financial instruments.

² 

Based on London Interbank Offered Rate (LIBOR) and spot rates. Carrying amount of the financial asset is equal to the fair value. In the fourth quarter of fiscal year 2019, we terminated the interest rate swap agreement. See Note 7 for additional information on derivative financial instruments. 

Schedule of Estimated Fair Values of Debt Instruments

The carrying amount and estimated fair values of our debt are as follows:

	September 28, 2019
		Carrying Value		Fair Value		Level 1		Level 2		Level 3
Tranche B term loan3		$	173,695	$	174,563	$	—	$	174,563	$	—
Senior unsecured notes3		350,000		366,625		—		366,625		—
Total debt		$	523,695	$	541,188	$	—	$	541,188	$	—

	September 29, 2018
		Carrying Value		Fair Value		Level 1		Level 2		Level 3
Debt component of tangible equity units4		$	7,290	$	8,626	$	—	$	8,626	$	—
Tranche B term loan3		391,416		395,330		—		395,330		—
Total debt		$	398,706	$	403,956	$	—	$	403,956	$	—

³  The fair value of the tranche B term loan and senior unsecured notes is based on the most recently quoted market price for the outstanding debt instrument, adjusted for any known significant deviations in value. The estimated fair value of the debt obligation is not necessarily indicative of the amount that would be realized in a current market exchange. See Note 8 for additional information on financing arrangements.

⁴ 

The fair value of the 8.75% tangible equity units (TEUs) was based on the most recently quoted price for the outstanding securities, adjusted for any known significant deviations in value. The final TEU installment payment was made during the fourth quarter of fiscal year 2019. See Note 12 for additional information on the TEUs.