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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Sep. 25, 2021
Accounting Policies [Abstract]  
Supplemental Cash Flow Statement Information
Supplemental Cash Flow Statement Information
 
 Years ended
September 25, 2021September 26, 2020September 28, 2019
Cash paid during the period for income taxes$615.1 $265.9 $180.6 
Cash paid during the period for interest$93.2 $109.5 $132.5 
Non-Cash Financing Activities:
Fair value of contingent consideration at acquisition$— $82.7 $— 
Schedule of Inventories
Inventories consisted of the following:
 
September 25, 2021September 26, 2020
Raw materials$163.3 $152.3 
Work-in-process53.0 46.5 
Finished goods284.9 196.3 
$501.2 $395.1 
Schedule of Property, Plant and Equipment Property, plant and equipment consisted of the following:
Estimated Useful LifeSeptember 25, 2021September 26, 2020
Equipment
3–10 years

$467.1 $460.7 
Equipment under customer usage agreements
3–8 years

484.6 456.8 
Buildings and improvements
20–35 years

191.2 167.3 
Leasehold improvements
Shorter of the Original Term of Lease
or Estimated Useful Life

49.7 44.3 
Land41.3 40.7 
Furniture and fixtures
5–7 years

16.8 16.1 
Finance lease right-of-use asset9.9 — 
1,260.6 1,185.9 
Less - accumulated depreciation and amortization(695.9)(694.4)
$564.7 $491.5 
Schedule of Intangible Assets
Intangible assets consisted of the following:
 
  
September 25, 2021September 26, 2020
DescriptionGross
Carrying
Value
Accumulated
Amortization
Gross
Carrying
Value
Accumulated
Amortization
Acquired intangible assets:
Developed technology$4,597.7 $3,184.2 $4,054.0 $2,907.2 
In-process research and development71.6 — — — 
Customer relationships591.7 510.1 549.1 477.8 
Trade names268.1 191.8 245.5 181.2 
Non-competition agreements1.5 1.5 1.5 1.3 
Business licenses2.5 2.5 2.4 2.3 
Total acquired intangible assets$5,533.1 $3,890.1 $4,852.5 $3,569.8 
Internal-use software23.5 17.2 51.8 43.2 
Capitalized software embedded in products25.5 15.6 26.8 10.6 
Total intangible assets$5,582.1 $3,922.9 $4,931.1 $3,623.6 
Schedule of Estimated Amortization Expense
The estimated amortization expense at September 25, 2021 for each of the five succeeding fiscal years was as follows:
 
Fiscal 2022$326.5 
Fiscal 2023$231.3 
Fiscal 2024$222.3 
Fiscal 2025$208.9 
Fiscal 2026$178.1 
Rollforward of Goodwill Activity by Reportable Segment
A rollforward of goodwill activity by reportable segment from September 26, 2020 to September 25, 2021 is as follows: 
DiagnosticsBreast HealthGYN SurgicalSkeletal HealthTotal
Balance at September 26, 2020$821.6 $764.8 $1,063.4 $8.1 $2,657.9 
Mobidiag acquisition432.6 — — — 432.6 
Diagenode acquisition83.5 — — — 83.5 
Biotheranostics acquisition80.9 — — — 80.9 
Somatex acquisition— 32.4 — — 32.4 
Foreign currency and other adjustments(7.8)(0.1)2.2 — (5.7)
Balance at September 25, 2021$1,410.8 $797.1 $1,065.6 $8.1 $3,281.6 
Schedule of Other Assets
Other assets consisted of the following:
 
September 25, 2021September 26, 2020
Other Assets
Tax receivable$24.7 $325.7 
Right of use assets83.6 80.7 
Life insurance contracts64.3 49.3 
Deferred tax assets21.9 15.5 
Cost-method equity investments9.5 11.4 
Other41.7 34.0 
$245.7 $516.6 
Changes in accumulated balances of other comprehensive income The following tables summarize the components and changes in accumulated balances of other comprehensive loss for the periods presented:
Year Ended September 25, 2021Year Ended September 26, 2020
Foreign Currency TranslationPension PlansHedged Interest Rate CapsHedged Interest Rate SwapsTotalForeign Currency Translation Pension PlansHedged Interest Rate CapsHedged Interest Rate SwapsTotal
Beginning Balance$(22.9)$(1.8)$(0.9)$(24.1)$(49.7)$(41.4)$(1.7)$(2.7)$3.5 $(42.3)
Other comprehensive income (loss) before reclassifications(20.2)0.5 0.4 9.4 (9.9)18.5 (0.1)(0.5)(27.6)(9.7)
Charges (gains) reclassified to statement of operations— — 0.5 — 0.5 — — 2.3 — 2.3 
Ending Balance$(43.1)$(1.3)$— $(14.7)$(59.1)$(22.9)$(1.8)$(0.9)$(24.1)$(49.7)
Schedule of Accumulated Other Comprehensive Income (Loss) Related to Derivatives
Years Ended
September 25, 2021September 26, 2020September 28, 2019
Amount of realized (loss) gain recognized in income
Forward foreign currency contracts$(3.6)$0.7 $11.0 
Foreign currency option contracts(6.1)(1.9)— 
$(9.7)$(1.2)$11.0 
Amount of unrealized (loss) gain recognized in income
Forward foreign currency contracts$0.5 $(0.2)$(2.2)
Foreign currency option contracts(4.0)4.0 0.1 
$(3.5)$3.8 $(2.1)
Amount of gain (loss) recognized in income
Total$(13.2)$2.6 $8.9 
Schedule of Derivative Instruments on the Consolidated Balance Sheets The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the balance sheet as of September 25, 2021:
Balance Sheet LocationSeptember 25, 2021September 26, 2020
Assets:
Derivatives not designated as hedging instruments:
Forward foreign currency contractsPrepaid expenses and other current assets$1.7 $1.1 
Foreign currency option contractsPrepaid expenses and other current assets— 10.1 
$1.7 $11.2 
Liabilities:
Derivative instruments designated as a cash flow hedge:
Interest rate swap contractAccrued expenses$11.1 $8.2 
Interest rate swap contractOther long-term liabilities7.6 23.0 
Total$18.7 $31.2 
Derivatives not designated as hedging instruments:
Forward foreign currency contractsAccrued expenses$0.6 $— 
Schedule of Unrealized Loss Recognized in AOCI
The following table presents the unrealized gain (loss) recognized in AOCI related to the interest rate caps and interest rate swap for the following reporting periods:
Years Ended
September 25, 2021September 26, 2020September 28, 2019
Amount of gain (loss) recognized in other comprehensive income (loss), net of taxes:
Interest rate swap$9.4 $(27.6)$3.5 
Interest rate cap agreements0.4 (0.5)(8.0)
Total$9.8 $(28.1)$(4.5)
Accounts Receivable Reserve Activity 2021, 2020 and 2019:
 
Balance at
Beginning
of Period
Charged to
Costs and
Expenses
DivestedWrite-
offs and
Payments
Balance at
End of
Period
Period Ended:
September 25, 2021$31.6 $15.0 $— $(6.1)$40.5 
September 26, 2020$17.8 $26.8 $(5.8)$(7.2)$31.6 
September 28, 2019$16.2 $4.4 $— $(2.8)$17.8 
Schedule of Reconciliation of Basic and Diluted Share Amounts
A reconciliation of basic and diluted share amounts for fiscal 2021, 2020, and 2019 was as follows:
September 25, 2021September 26, 2020September 28, 2019
Basic weighted average common shares outstanding257,046 262,727 269,413 
Weighted average common stock equivalents from assumed exercise of stock options and restricted stock units2,660 1,886 — 
Diluted weighted average common shares outstanding259,706 264,613 269,413 
Weighted-average anti-dilutive shares related to:
Outstanding stock options and restricted stock units528 1,158 4,098 
Schedule of Product Warranty Activity
Product warranty activity for fiscal 2021 and 2020 was as follows:
 
Balance at
Beginning of
Period
ProvisionsAcquiredDivestedSettlements/
Adjustments
Balance at End
of Period
Period ended:
September 25, 2021$9.9 $7.7 $0.3 $— $(9.1)$8.8 
September 26, 2020$13.9 $11.7 $0.5 $(6.1)$(10.1)$9.9