Leases (Tables)

12 Months Ended

Sep. 26, 2020

Leases [Abstract]

Supplemental Balance Sheet Information

Supplemental balance sheet information related to the Company's leases was as follows:

	Balance Sheet Classification	As of September 26, 2020
		(in millions)
Operating leases
Right-of-use assets	Operating lease right-of-use assets	$	115.9
Current lease liabilities	Current operating lease liabilities	$	33.5
Non-current lease liabilities	Long-term operating lease liabilities	86.5
Total operating lease liabilities		$	120.0
Finance leases
Right-of-use assets	Property, plant and equipment, net	$	0.3
Current lease liabilities	Current portion of long-term debt	$	0.1
Non-current lease liabilities	Long-term debt	0.1
Total finance lease liabilities		$	0.2

Weighted-average remaining lease term and discount rate for the Company's leases were as follows:

	As of September 26, 2020
	(in millions)
Weighted-average remaining lease term (in years):
Operating leases	4.8
Finance leases	2.0
Weighted-average discount rate:
Operating leases	3.43	%
Finance leases	4.80	%

Schedule of Supplemental Cash Flow and Other Information Related to Leases

Components of lease cost were as follows:

	Fiscal Year Ended September 26, 2020
	(in millions)
Operating lease cost	$	39.1
Finance lease cost:
Amortization of right-of-use assets	0.1
Interest on lease liabilities	—
Total finance lease cost	$	0.1
Short-term lease cost	3.7
Variable lease cost	7.7
Total lease cost	$	50.6

Supplemental cash flow information and non-cash activity related to the Company's leases was as follows:

	Fiscal Year Ended September 26, 2020
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	36.1
Operating cash flows from finance leases	$	—
Financing cash flows from finance leases	$	0.1
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	39.6
Finance leases	$	—

Operating Lease Maturity

Future non-cancelable lease payments under prior lease accounting rules (ASC 840) and under the new lease accounting rules (ASC 842) that went into effect September 29, 2019 were as follows:

	As of September 26, 2020				As of September 28, 2019
	ASC 842				ASC 840
	Operating Leases		Finance Leases		Operating Leases
Fiscal Year	(in millions)
2020	$	—	$	—	$	38.0
2021	$	36.6	$	0.1	$	29.3
2022	30.6		0.1		21.8
2023	20.1		—		11.3
2024	14.7		—		7.9
2025	11.1		—		—
Thereafter	17.5		—		20.7
Total future undiscounted lease payments	$	130.6	$	0.2	$	129.0
Less imputed interest	(10.6)		—
Total reported lease liability	$	120.0	$	0.2

Finance Leases Maturity

Future non-cancelable lease payments under prior lease accounting rules (ASC 840) and under the new lease accounting rules (ASC 842) that went into effect September 29, 2019 were as follows:

	As of September 26, 2020				As of September 28, 2019
	ASC 842				ASC 840
	Operating Leases		Finance Leases		Operating Leases
Fiscal Year	(in millions)
2020	$	—	$	—	$	38.0
2021	$	36.6	$	0.1	$	29.3
2022	30.6		0.1		21.8
2023	20.1		—		11.3
2024	14.7		—		7.9
2025	11.1		—		—
Thereafter	17.5		—		20.7
Total future undiscounted lease payments	$	130.6	$	0.2	$	129.0
Less imputed interest	(10.6)		—
Total reported lease liability	$	120.0	$	0.2