Fair Value Measurements (Tables)

12 Months Ended

Oct. 03, 2020

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:

	October 3, 2020
	Level 1		Level 2		Level 3		Total
Assets
Currency contracts 1	$	—	$	54	$	—	$	54
Total assets	—		54		—		54
Liabilities
Currency contracts 1	—		532		—		532
Cross currency swaps 1	—		4,165		—		4,165
Contingent consideration 2	—		—		26,497		26,497
Total liabilities	$	—	$	4,697	$	26,497	$	31,194

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

1    Based on observable market transactions of spot currency rates, forward currency rates on equivalently-termed instruments and interest rate curves, as applicable. Carrying amounts of the financial assets and liabilities are equal to the fair value. See Note 8 for additional information on derivative financial instruments.

2    Based on a discounted cash flow analysis that included revenue estimates, probability of financial performance achievement and a discount rate. Carrying amounts of the financial assets and liabilities are equal to the fair value. See Note 18 for additional information on business acquisitions.

Schedule of Business Acquisitions by Acquisition, Contingent Consideration

Changes to the contingent consideration are as follows:

Balance, September 28, 2019	$	—
Additions	16,903
Fair value adjustments 3	8,092
Interest accretion	499
Foreign currency translation	1,003
Balance, October 3, 2020	$	26,497

3    Changes in the fair value of the contingent consideration liability are recognized in general and administrative expense in the Consolidated Statements of Income in the period in which the fair value adjustment was determined.

Schedule of Estimated Fair Values of Debt Instruments

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

	October 3, 2020
		Carrying Value		Fair Value		Level 1		Level 2		Level 3
Tranche B term loan 4		$	169,095	$	169,940	$	—	$	169,940	$	—
Senior unsecured notes 4		350,000		346,500		—		346,500		—
Total debt		$	519,095	$	516,440	$	—	$	516,440	$	—

	September 28, 2019
		Carrying Value		Fair Value		Level 1		Level 2		Level 3
Tranche B term loan 4		$	173,695	$	174,563	$	—	$	174,563	$	—
Senior unsecured notes 4		350,000		366,625		—		366,625		—
Total debt		$	523,695	$	541,188	$	—	$	541,188	$	—

4    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 9 for additional information on financing arrangements.