0000004127-21-000058 | 10-K | XBRL Viewer

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Oct. 01, 2021	Nov. 18, 2021	Apr. 02, 2021
Document and Entity Information [Abstract]
Document Transition Report	false
Document Annual Report	true
Trading Symbol	SWKS
Title of 12(b) Security	Common Stock, par value $0.25 per share
Local Phone Number	231-3000
Entity Address, Address Line One	5260 California Avenue
Entity Incorporation, State or Country Code	DE
Entity Registrant Name	Skyworks Solutions, Inc.
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Central Index Key	0000004127
Document Type	10-K
Document Period End Date	Oct. 01, 2021
Entity File Number	001-05560
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--10-01
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 30.9
Entity Common Stock, Shares Outstanding		165,387,253
Entity Tax Identification Number	04-2302115
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92617
City Area Code	(949)
Security Exchange Name	NASDAQ
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true

Consolidated Statements Of Operations - USD ($) $ in Thousands, shares in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Income Statement [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 5,109,100	$ 3,355,700	$ 3,376,800
Cost of Goods and Services Sold	2,596,700	1,742,800	1,773,000
Gross profit	2,512,400	1,612,900	1,603,800
Operating expenses:
Research and development	532,300	464,100	424,100
Selling, general and administrative	322,500	231,400	198,300
Amortization of intangibles	36,000	11,800	22,600
Restructuring and other charges	8,900	13,800	6,800
Total operating expenses	899,700	721,100	651,800
Operating income	1,612,700	891,800	952,000
Interest Expense	(13,400)	0	0
Other income (expense), net	(600)	(100)	9,000
Income before income taxes	1,598,700	891,700	961,000
Provision for income taxes	100,400	76,900	107,400
Net income	$ 1,498,300	$ 814,800	$ 853,600
Earnings per share:
Basic (in dollars per share)	$ 9.07	$ 4.84	$ 4.92
Diluted (in dollars per share)	$ 8.97	$ 4.80	$ 4.89
Weighted average shares:
Basic (in shares)	165.2	168.5	173.5
Diluted (in shares)	167.0	169.9	174.5
Cash dividends declared and paid per share (in dollars per share)	$ 2.06	$ 1.82

Consolidated Statement of Other Comprehensive Income Statement - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Statement of Comprehensive Income [Abstract]
Net Income	$ 1,498.3	$ 814.8	$ 853.6
Other Comprehensive Income, Net of Tax
Fair value of investments	0.5	0.1	0.3
Pension adjustments	0.4	0.0	0.5
Comprehensive income	$ 1,498.2	$ 814.9	$ 854.4

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 01, 2021	Oct. 02, 2020
Current assets:
Cash and cash equivalents	$ 882,900	$ 566,700
Marketable Securities, Current	137,200	408,100
Receivables, net of allowance for doubtful accounts of $0.8 and $0.6, respectively	756,200	358,500
Inventory	885,000	806,000
Other current assets	204,100	178,400
Total current assets	2,865,400	2,317,600
Property, plant and equipment, net	1,501,600	1,249,500
Operating Lease, Right-of-Use Asset	166,100	167,900
Goodwill	2,176,700	1,189,800
Intangible assets, net	1,698,600	53,500
Deferred tax assets, net	119,500	55,300
Marketable Securities, Noncurrent	7,100	5,200
Other assets	55,700	67,900
Total assets	8,590,700	5,106,700
Current liabilities:
Accounts payable	236,000	226,900
Accrued compensation and benefits	135,300	113,500
Other current liabilities	287,200	108,000
Total current liabilities	658,500	448,400
Long-term tax liabilities	222,800	311,300
Operating Lease, Liability, Noncurrent	144,500	150,700
Other long-term liabilities	32,200	32,100
Total liabilities	3,293,600	942,500
Stockholders' equity:
Preferred stock, no par value: 25.0 shares authorized, no shares issued	0	0
Common stock, $0.25 par value: 525.0 shares authorized; 230.2 shares issued and 170.1 shares outstanding at September 27, 2019, and 228.4 shares issued and 177.4 shares outstanding at September 28, 2018	41,300	41,400
Additional paid-in capital	79,600	3,403,700
Treasury stock, at cost	(1,700)	(4,093,500)
Retained earnings	5,185,800	4,820,400
Accumulated other comprehensive loss	(7,900)	(7,800)
Total stockholders' equity	5,297,100	4,164,200
Total liabilities and stockholders' equity	8,590,700	5,106,700
Long-term Debt	$ 2,235,600	$ 0

Consolidated Balance Sheets (Parentheticals) - USD ($) shares in Millions, $ in Millions	Oct. 01, 2021	Oct. 02, 2020
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 0.7	$ 0.6
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	25.0	25.0
Preferred stock, shares issued (in shares)	0.0	0.0
Common stock, par value (in dollars per share)	$ 0.25	$ 0.25
Common stock, shares authorized (in shares)	525.0	525.0
Common stock, shares issued (in shares)	165.3	232.3
Common stock, shares outstanding (in shares)	165.3	165.6

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Cash flows from operating activities:
Net Income	$ 1,498,300	$ 814,800	$ 853,600
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation	191,900	156,600	80,100
Depreciation	332,200	318,300	314,900
Amortization of intangible assets	104,500	46,000	56,700
Deferred income taxes	(59,500)	(13,400)	(6,100)
Asset Impairment Charges	7,100	11,800	0
Excess tax benefit from share-based compensation	1,100	0	0
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	0	0	(3,100)
Other	200	3,800	16,800
Changes in assets and liabilities net of acquired balances:
Receivables, net	(397,700)	76,800	228,800
Inventory	(41,200)	(190,400)	(119,600)
Accounts payable	59,600	61,100	(33,000)
Increase (Decrease) in Other Operating Assets and Liabilities, Net	(75,500)	80,900	21,700
Net Cash Provided by (Used in) Operating Activities	1,772,000	1,204,500	1,367,400
Cash flows from investing activities:
Capital expenditures	(637,800)	(389,400)	(398,400)
Payments for acquisitions, net of cash acquired	(2,751,000)	0	0
Purchased intangibles	(14,300)	(9,100)	(25,000)
Payments to Acquire Marketable Securities	(500,800)	(790,500)	(360,500)
Maturity of investments	770,700	607,600	447,000
Net Cash Provided by (Used in) Investing Activities	(3,133,200)	(581,400)	(336,900)
Cash flows from financing activities:
Repurchase of common stock - payroll tax withholdings on equity awards	(55,200)	(33,100)	(22,800)
Repurchase of common stock - share repurchase program	(195,600)	(647,500)	(657,600)
Dividends paid	(340,600)	(307,000)	(273,900)
Proceeds from Issuance of Common Stock	24,800	22,800	19,700
Proceeds from Issuance of Debt	(2,488,200)	0	0
Repayments of Long-term Debt	(250,000)	0	0
Payments of Financing Costs	(5,800)	0	0
Net proceeds from exercise of stock options	11,600	57,100	22,100
Net Cash Provided by (Used in) Financing Activities	1,677,400	(907,700)	(912,500)
Net increase in cash and cash equivalents	316,200	(284,600)	118,000
Cash and cash equivalents at beginning of period	566,700	851,300	733,300
Cash and cash equivalents at end of period	882,900	566,700	851,300
Supplemental cash flow disclosures:
Treasury Stock, Retired, Cost Method, Amount	4,342,600
Income taxes paid	184,000	110,800	124,400
Interest Paid, Excluding Capitalized Interest, Operating Activities	2,200	0	0
Stock Issued	27,500	0	700
Capital Expenditures Incurred but Not yet Paid	$ 29,300	$ 78,700	$ 101,500

Consolidated Statements of Stockholders' Equity and Comprehensive Income (Loss) Statement - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Loss
Beginning balance at Sep. 28, 2018	$ 4,097,000	$ 44,400	$ (2,732,500)	$ 3,061,000	$ 3,732,900	$ (8,800)
Common stock, shares, outstanding beginning balance (in shares) at Sep. 28, 2018		177,400
Treasury stock, shares outstanding, beginning balance (in shares) at Sep. 28, 2018			51,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	853,600				853,600
Exercise and settlement of share based awards and related tax benefit, net of shares withheld for taxes (in shares)		1,600	300
Exercise and settlement of share based awards and related tax benefit, net of shares withheld for taxes	19,800	$ 300	$ (22,800)	42,200
Share-based Compensation expense	$ 82,500			82,500
Share repurchase program (in shares)	(8,900)	(8,900)
Share repurchase program	$ (657,600)	$ (2,200)	$ (657,600)	2,200
Stock Repurchased During Period, Shares			8,900
Dividends declared	(273,900)				(273,900)
Other comprehensive income (loss)	800					800
Common stock, shares, outstanding ending balance (in shares) at Sep. 27, 2019		170,100
Treasury stock, shares outstanding, ending balance (in shares) at Sep. 27, 2019			60,100
Ending balance at Sep. 27, 2019	4,122,300	$ 42,500	$ (3,412,900)	3,188,000	4,312,600	(7,900)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Retired, Cost Method, Amount			$ 0
Net income	814,800				814,800
Exercise and settlement of share based awards and related tax benefit, net of shares withheld for taxes (in shares)		1,800	300
Exercise and settlement of share based awards and related tax benefit, net of shares withheld for taxes	46,800	$ 500	$ (33,100)	79,400
Share-based Compensation expense	$ 134,700			134,700
Share repurchase program (in shares)	(6,300)	(6,300)
Share repurchase program	$ (647,500)	$ (1,600)	$ (647,500)	1,600
Stock Repurchased During Period, Shares			6,300
Dividends declared	(307,000)				(307,000)
Other comprehensive income (loss)	$ 100					100
Common stock, shares, outstanding ending balance (in shares) at Oct. 02, 2020	165,600	165,600
Treasury stock, shares outstanding, ending balance (in shares) at Oct. 02, 2020			66,700
Ending balance at Oct. 02, 2020	$ 4,164,200	$ 41,400	$ (4,093,500)	3,403,700	4,820,400	(7,800)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Retired, Cost Method, Amount			$ 0
Net income	1,498,300
Exercise and settlement of share based awards and related tax benefit, net of shares withheld for taxes (in shares)		1,100	400
Exercise and settlement of share based awards and related tax benefit, net of shares withheld for taxes	8,700	$ 300	$ (55,200)	63,600
Share-based Compensation expense	$ 158,100			158,100
Share repurchase program (in shares)	(1,400)	(1,400)
Share repurchase program	$ (195,600)	$ (400)	$ (195,600)	400
Stock Repurchased During Period, Shares			1,400
Dividends declared	(340,600)				(340,600)
Business Combination Consideration Transferred Replacement Equity Awards	4,100			4,100
Other comprehensive income (loss)	$ (100)					(100)
Common stock, shares, outstanding ending balance (in shares) at Oct. 01, 2021	165,300	165,300
Treasury stock, shares outstanding, ending balance (in shares) at Oct. 01, 2021			0
Ending balance at Oct. 01, 2021	$ 5,297,100	$ 41,300	$ (1,700)	79,600	5,185,800	$ (7,900)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Shares, Retired	(68,500)
Treasury Stock, Retired, Cost Method, Amount	$ (4,342,600)		$ (4,342,600)	$ (3,550,300)	$ (792,300)

Description Of Business And Basis Of Presentation	12 Months Ended
Description Of Business And Basis Of Presentation	Oct. 01, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	1. DESCRIPTION OF BUSINESS Skyworks Solutions, Inc., together with its consolidated subsidiaries (“Skyworks” or the “Company”), is empowering the wireless networking revolution. The Company’s analog semiconductors are connecting people, places, and things, spanning a number of new applications within the aerospace, automotive, broadband, cellular infrastructure, connected home, entertainment and gaming, industrial, medical, military, smartphone, tablet, and wearable markets.

Summary of Significant Accounting Policies

12 Months Ended

Oct. 01, 2021

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

All Skyworks subsidiaries are included in the Company’s consolidated financial statements and all intercompany balances are eliminated in consolidation. Certain items in the fiscal years 2019 and 2020 financial statements have been reclassified to conform to the fiscal 2021 presentation.

Fiscal Year

The Company’s fiscal year ends on the Friday closest to September 30. Fiscal 2021 and 2019 each consisted of 52 weeks and ended on October 1, 2021, and September 27, 2019, respectively. Fiscal 2020 consisted of 53 weeks and ended on October 2, 2020.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts of assets, liabilities, revenue, expenses, comprehensive income, and accumulated other comprehensive loss during the reporting period. The Company evaluates its estimates on an ongoing basis using historical experience and other factors, including the current economic environment. Judgment is required in determining the reserves for and fair value of items such as overall fair value assessments of assets and liabilities, particularly those classified as Level 2 or Level 3 in the fair value hierarchy, marketable securities, inventory, intangible assets associated with business combinations, share-based compensation, revenue reserves, loss contingencies, and income taxes. In addition, judgment is required in determining whether a potential indicator of impairment of long-lived assets exists and in estimating future cash flows for any necessary impairment testing. Actual results could differ significantly from these estimates.

Cash and Cash Equivalents

The Company invests excess cash in time deposits, certificates of deposit, money market funds, U.S. Treasury securities, agency securities, other government securities, corporate debt securities, and commercial paper. The Company considers highly liquid investments as cash equivalents including money market funds and investments with maturities of 90 days or less when purchased.

Investments

The Company classifies its investment in marketable debt securities as “available-for-sale.” Available-for-sale securities are carried at fair value with unrealized holding gains or losses recorded in other comprehensive income, net of tax. Gains or losses are included in earnings in the period in which they are realized. The cost of securities sold is determined based on the specific identification method. The cost of available-for-sale debt securities is adjusted for premiums and discounts, with the amortization or accretion of such amounts included as a portion of interest. Available-for-sale debt securities with an original maturity date greater than three months and less than one year are classified as current investments. Available-for-sale debt securities with an original maturity date exceeding one year are classified as long-term.

Fair Value

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principle or most advantageous market in an orderly transaction between market participants at the measurement date. Applicable accounting guidance provides a hierarchy for inputs used in measuring fair value that prioritize the use of observable inputs over the use of unobservable inputs, when such observable inputs are available. The three levels of inputs that may be used to measure fair value are as follows:

•Level 1 - Quoted prices in active markets for identical assets or liabilities.

•Level 2 - Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets with insufficient volume or infrequent transactions (less active markets), or model-driven valuations in which all significant inputs are observable or can be derived principally from, or corroborated with, observable market data.

•Level 3 - Fair value is derived from valuation techniques in which one or more significant inputs are unobservable, including assumptions and judgments made by the Company.

It is the Company’s policy to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements. When available, the Company uses quoted market prices to measure fair value. If market prices are not available, the Company is required to make judgments about assumptions market participants would use to estimate the fair value of a financial instrument.

The Company measures certain assets and liabilities at fair value on a recurring basis in three levels, based on the market in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. It recognizes transfers within the fair value hierarchy at the end of the fiscal quarter in which the change in circumstances that caused the transfer occurred.

The carrying value of cash and cash equivalents, accounts receivable, other current assets, accounts payable, and accrued liabilities approximates fair value due to the short-term maturities of these assets and liabilities.

Inventory

Inventory is stated at the lower of cost or net realizable value on a first-in, first-out basis. Reserves for excess and obsolete inventory are established on a quarterly basis and are based on a detailed analysis of aged material, salability of our inventory, market conditions, and product life cycles. Once reserves are established, write-downs of inventory are considered permanent adjustments to the cost basis of inventory.

Property, Plant, and Equipment

Property, plant, and equipment are carried at cost less accumulated depreciation, with significant renewals and betterments being capitalized and retired equipment written off in the respective periods. Maintenance and repairs are expensed as incurred.

Depreciation is calculated using the straight-line method over the estimated useful lives, which range from five to thirty years for buildings and improvements and three to ten years for machinery and equipment. Leasehold improvements are depreciated over the lesser of the economic life or the life of the associated lease.

Leases

The Company determines if an arrangement is a lease at its inception. Right-of-use (“ROU”) assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The Company uses its estimated incremental borrowing rate in determining the present value of lease payments considering the term of the lease, which is derived from information available at the lease commencement date. The lease term includes renewal options when it is reasonably certain that the option will be exercised and excludes termination options. To the extent that the Company’s agreements have variable lease payments, the Company includes variable lease payments that depend on an index or a rate and excludes those that depend on facts or circumstances occurring after the commencement date, other than the passage of time.

Lease expense for these leases is recognized on a straight-line basis over the lease term. The Company has elected not to recognize ROU assets and lease liabilities that arise from short-term (12 months or less) leases for any class of underlying asset. Operating leases are included in operating lease ROU assets, other current liabilities, and long-term operating lease liabilities in the Company's condensed consolidated balance sheet.

Valuation of Long-Lived Assets

Definite lived intangible assets are carried at cost less accumulated amortization. Amortization is calculated based on the pattern of benefit to be recognized from the underlying asset over its estimated useful life. Carrying values for long-lived assets and definite lived intangible assets are reviewed for possible impairment as circumstances warrant. Factors considered important that could result in an impairment review include significant underperformance relative to expected, historical or projected future operating results, significant changes in the manner of use of assets or the Company’s business strategy, or significant negative industry or economic trends. In addition, impairment reviews are conducted at the judgment of

management whenever asset values are deemed to be unrecoverable relative to future undiscounted cash flows expected to be generated by that particular asset group. The determination of recoverability is based on an estimate of undiscounted cash flows expected to result from the use of an asset group and its eventual disposition. Such estimates require management to exercise judgment and make assumptions regarding factors such as future revenue streams, operating expenditures, cost allocation and asset utilization levels, all of which collectively impact future operating performance. The Company’s estimates of undiscounted cash flows may differ from actual cash flows due to, among other things, technological changes, economic conditions, changes to its business model, or changes in its operating performance. If the sum of the undiscounted cash flows is less than the carrying value of an asset group, the Company would recognize an impairment loss, measured as the amount by which the carrying value exceeds the fair value of the asset group.

Goodwill and Indefinite-Lived Intangible Assets

Goodwill and indefinite-lived intangible assets are not amortized but are tested at least annually as of the first day of the fourth fiscal quarter for impairment or more frequently if indicators of impairment exist during the fiscal year. The Company assesses its conclusion regarding segments and reporting units in conjunction with its annual goodwill impairment test and has determined that it has one reporting unit for the purposes of allocating and testing goodwill.

The Company’s impairment analysis compares its fair value to its net book value to determine if there is an indicator of impairment. In the Company’s calculation of fair value, it considers the closing price of its common stock on the selected testing date, the number of shares of its common stock outstanding and other marketplace activity such as a related control premium. If the calculated fair value is determined to be less than the book value of the reporting unit, an impairment loss is recognized equal to that excess; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit.

Business Combinations

The Company uses the acquisition method of accounting for business combinations and recognizes assets acquired and liabilities assumed at their fair values on the date acquired. Goodwill represents the excess of the purchase price over the fair value of the acquired identifiable net assets. The fair values of the assets and liabilities acquired are determined based upon the Company’s valuation using a combination of market, income, or cost approaches. The valuation involves making significant estimates and assumptions, which are based on detailed financial models including the projection of future cash flows, the weighted average cost of capital, and any cost savings that are expected to be derived in the future from the viewpoint of a market participant.

Revenue Recognition

The Company derives its revenue primarily from the sale of semiconductor products under individual customer purchase orders, some of which have underlying master sales agreements that specify terms governing the product sales. In the absence of a sales agreement, the Company’s standard terms and conditions apply. Revenue is recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The Company applies a five-step approach as defined in FASB ASC 606, Revenue from Contracts with Customers (Topic 606), in determining the amount and timing of revenue to be recognized: (1) identifying the contract with a customer; (2) identifying the performance obligations in the contract; (3) determining the transaction price; (4) allocating the transaction price to the performance obligations in the contract; and (5) recognizing revenue when the corresponding performance obligation is satisfied.

Each distinct promise to transfer products is considered to be an identified performance obligation for which revenue is recognized at a point in time upon transfer of control of the products to the customer. Transfer of control occurs upon shipment to the distributor or direct customer or when products are pulled from consignment inventory by the customer. Point in time recognition is determined as products manufactured under non-cancellable orders create an asset with an alternative use to the Company. Returns under the Company’s general assurance warranty of products have not been material, and warranty-related services are not considered a separate performance obligation.

Pricing adjustments and estimates of returns are treated as variable consideration for purposes of determining the transaction price. Sales returns are generally accepted at the Company’s discretion or from distributors with stock rotation rights. Stock rotation allows distributors limited levels of returns and is based on the distributor’s prior purchases. Price protection represents price discounts granted to certain distributors and is based on negotiations on sales to end customers. Variable consideration is estimated using the expected value method considering all reasonably available information, including the Company’s historical experience and its current expectations, and is reflected in the transaction price when sales are recorded. The Company records net revenue excluding taxes on its sales to trade customers.

Accounts receivable represents the Company’s unconditional right to receive consideration from its customer. Substantially all payments are collected within the Company’s standard terms, which do not include a significant financing component. To date, there have been no material impairment losses on accounts receivable. There were no material contract assets or contract liabilities recorded on the consolidated balance sheet in any of the periods presented. All incremental customer contract acquisition costs are expensed as they are incurred as the amortization period of the asset that the Company otherwise would have recognized is one year or less in duration.

Share-Based Compensation

The Company recognizes compensation expense for all share-based payment awards made to employees and directors including non-qualified employee stock options, share awards and units, employee stock purchase plan, and other special share-based awards based on estimated fair values.

The fair value of share-based payment awards is amortized over the requisite service period, which is defined as the period during which an employee is required to provide service in exchange for an award. The Company generally uses a straight-line attribution method for all grants that include only a service condition. Awards with both performance and service conditions are expensed over the service period for each separately vesting tranche.

Share-based compensation expense recognized during the period includes actual expense on vested awards and expense associated with unvested awards. Forfeitures are recorded as incurred.

The determination of fair value of restricted and certain performance stock awards and units is based on the value of the Company’s stock on the date of grant with performance awards and units adjusted for the actual outcome of the underlying performance condition.

For more complex performance awards including units with market-based performance conditions the Company employs a Monte Carlo simulation valuation method to calculate the fair value of the awards based on the most likely outcome. Under the Monte Carlo simulation, a number of variables and assumptions are used including, but not limited to: the expected stock price volatility over the term of the award, a correlation coefficient, the risk-free rate, and dividend yield.

Research and Development Costs

Research and development costs are expensed as incurred.

Loss Contingencies

The Company records its best estimates of a loss contingency when it is considered probable and the amount can be reasonably estimated. When a range of loss can be reasonably estimated with no best estimate in the range, the minimum estimated liability related to the claim is recorded. As additional information becomes available, the Company assesses the potential liability related to the potential pending loss contingency and revises its estimates. Material loss contingencies are disclosed if there is at least a reasonable possibility that a loss or an additional loss may have been incurred and include estimated legal costs.

Restructuring

A liability for post-employment benefits is recorded when payment is probable and the amount is reasonably estimable. Contract exit costs include contract termination fees and future contractual termination commitments for lease payments. A liability for contract exit costs is recognized in the period in which the Company terminates the contract or on the cease-use date for leased facilities.

Foreign Currencies

The Company’s functional currency is the United States dollar. Gains and losses related to foreign currency transactions and conversion of foreign denominated cash balances are included in current results.

Income Taxes

The Company uses the asset and liability method of accounting for income taxes. Under the asset and liability method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. This method also requires the recognition of future tax benefits such as net operating loss carry forwards, to the extent that realization of such benefits is more likely than not. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable

income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

The carrying value of the Company’s net deferred tax assets assumes the Company will be able to generate sufficient future taxable income in certain tax jurisdictions, based on estimates and assumptions. If these estimates and related assumptions change in the future, the Company may be required to record additional valuation allowances against its deferred tax assets resulting in additional income tax expense in its Consolidated Statement of Operations. Management evaluates the realizability of the deferred tax assets and assesses the adequacy of the valuation allowance quarterly. Likewise, in the event the Company were to determine that it would be able to realize its deferred tax assets in the future in excess of their net recorded amount, an adjustment to the deferred tax assets would increase income in the period such determination was made.

The determination of recording or releasing tax valuation allowances is made, in part, pursuant to an assessment performed by management regarding the likelihood that the Company will generate future taxable income against which benefits of its deferred tax assets may or may not be realized. This assessment requires management to exercise judgment and make estimates with respect to its ability to generate revenues, gross profits, operating income, and taxable income in future periods. Amongst other factors, management must make assumptions regarding overall business and semiconductor industry conditions, operating efficiencies, the Company’s ability to develop products to its customers’ specifications, technological change, the competitive environment, and changes in regulatory requirements which may impact its ability to generate taxable income and, in turn, realize the value of its deferred tax assets.

The calculation of the Company’s tax liabilities includes addressing uncertainties in the application of complex tax regulations and is based on the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return.

The Company recognizes liabilities for anticipated tax audit issues in the United States and other tax jurisdictions based on its recognition threshold and measurement attribute of whether it is more likely than not that the positions the Company has taken in tax filings will be sustained upon tax audit, and the extent to which, additional taxes would be due. If payment of these amounts ultimately proves to be unnecessary, the reversal of the liabilities would result in tax benefits being recognized in the period in which it is determined the liabilities are no longer necessary. If the estimate of tax liabilities proves to be less than the ultimate assessment, a further charge to expense would result. The Company recognizes any interest or penalties, if incurred, on any unrecognized tax liabilities or benefits as a component of income tax expense.

Earnings Per Share

Basic earnings per share are computed using the weighted average number of common shares outstanding during the period. Diluted earnings per share incorporate the potentially dilutive incremental shares issuable upon the assumed exercise of stock options, the assumed vesting of outstanding restricted stock units, and the assumed issuance of common stock under the stock purchase plan using the treasury share method. Shares issuable upon the vesting of performance stock awards are likewise included in the calculation of diluted earnings per share as of the date the condition(s) have been satisfied.

Treasury Stock

The Company accounts for treasury stock using the cost method. The Company accounts for the retirement of treasury stock by charging any excess of cost over par value as a deduction from additional paid-in capital and the remaining excess as a deduction to retained earnings on the consolidated balance sheets. Retired treasury shares revert to the status of authorized but unissued shares.

Recently Issued Accounting Guidance

In December 2019, the Financial Accounting Standards Board (the “FASB”) issued an accounting standards update that simplifies the accounting for income taxes by eliminating certain exceptions related to the approach for intraperiod tax allocation and modified the methodology for calculating income taxes in an interim period. The guidance also clarifies and simplifies other aspects of the accounting for income taxes. The guidance is effective for the Company beginning in the first quarter of fiscal 2022. The new standard is not expected to have a material effect on the Company’s consolidated financial statements.

Recently Adopted Accounting Pronouncements

BUSINESS COMBINATIONS

3. BUSINESS COMBINATIONS

On July 26, 2021, the Company acquired the Infrastructure and Automotive (“I&A”) business of Silicon Laboratories Inc. (the “Asset Purchase”). The Asset Purchase accelerated the Company’s expansion into high-growth segments, including electric and

hybrid vehicles, industrial and motor control, power supply, 5G wireless infrastructure, optical data communication, data center, automotive, smart home, and several other applications.

The Company acquired the business for total cash consideration of $2.75 billion. Net revenue and net income from this acquisition have been included in the Consolidated Statements of Operations from the acquisition date through the end of the fiscal year on October 1, 2021, and the impact of the acquisition to the ongoing operations on the Company’s net revenue and net income was not material. The Company incurred $40.7 million in transaction-related costs during the fiscal year ended October 1, 2021, which were included within the selling, administrative, and general expense.

The allocation of the purchase price to the assets and liabilities recognized in the Company’s acquisition of the I&A business was considered final at the time of filing this Annual Report on Form 10-K. The allocation of the purchase price is based on the estimated fair values of the assets acquired and liabilities assumed by major class related to the Asset Purchase and are reflected, as of the acquisition date, in the accompanying financial statements as follows (in millions):


	As of
Purchase Price	July 26, 2021
Cash consideration	$	2,750.0
Fair value of partially vested equity awards	4.1
Total purchase consideration	$	2,754.1

Allocation
Inventory, including step up	$	56.3
Property, plant, and equipment	4.4
Other long-term assets	0.7
Intangible assets	1,708.3
Goodwill	986.2
Liabilities assumed	(1.8)
Estimated fair value of net assets acquired	$	2,754.1

Goodwill is primarily attributable to the assembled workforce and planned growth in strategic markets. This goodwill is expected to be deductible for tax purposes.


	As of
Intangible Assets	July 26, 2021
Developed technology	$	960.1
Backlog	154.6
Customer relationships and tradename	2.5
Total identified finite-lived intangible assets	1,117.2
In-process research and development (“IPR&D”)	591.1
Total identified intangible assets	$	1,708.3

Developed semiconductor technology relates to timing products including clocks and oscillators, power products including isolation and power-over-ethernet devices, and broadcast products including consumer and automotive radio devices.

Developed technology was valued using the multi-period excess earnings method under the income approach. This method reflects the present value of the projected cash flows that are expected to be generated by the developed technology less charges representing the contribution of other assets to those cash flows. The weighted-average amortization period of approximately four years was determined based on the technology cycle related to each developed technology, as well as the cash flows over the forecast period.

Customer relationships and backlog represent the fair value of future projected revenue that will be derived from sales of products to existing customers of the I&A business. Backlog was valued using the multi-period excess earnings method under

the income approach, and customer relationships were valued using the replacement cost method under the cost approach. The cost approach estimates the amount of money required to replace the investment or asset with another having equivalent utility. The weighted-average amortization period of the customer relationships was determined based on historical customer acquisition rates under a distributor model and was fully amortized as of October 1, 2021. The weighted-average amortization period of the backlog of approximately two years was determined based on the expected life of the backlog and the cash flows over the forecast period.

Tradename relates to the “Silicon Laboratories” trade name. The fair value was determined by applying the relief-from-royalty method under the income approach. This method is based on the application of a market royalty rate to forecasted revenue under the trade name. The weighted-average amortization period was determined based on the expected life of the trade name and was fully amortized as of October 1, 2021.

The fair value of IPR&D was determined using the multi-period excess earnings method under the income approach. This method reflects the present value of the projected net cash flows that are expected to be generated by the IPR&D, less charges representing the contribution of other assets to those cash flows.

The unaudited pro forma financial results for the fiscal years ended October 1, 2021, and October 2, 2020, combine the historical results of Skyworks with the unaudited historical results of the I&A business for the fiscal years ended October 1, 2021, and October 2, 2020, respectively. The results include the effects of unaudited pro forma adjustments as if the I&A business was acquired at the beginning of the prior fiscal year. The unaudited pro forma results presented include amortization charges for acquired intangible assets, adjustments for increases in the fair value of acquired inventory, interest expense, other charges, and related tax effects. The pro forma financial results presented below do not include any anticipated synergies or other expected benefits of the acquisition. These unaudited results are presented for informational purposes only and are not necessarily indicative of future operations (in millions,):


	Fiscal Years Ended
(unaudited)	October 1, 2021		October 2, 2020
Revenue	$	5,440.0	$	3,735.4
Net income	1,514.3		637.8

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Business Combinations

12 Months Ended

Oct. 01, 2021

Business Combinations [Abstract]

BUSINESS COMBINATIONS

3. BUSINESS COMBINATIONS

hybrid vehicles, industrial and motor control, power supply, 5G wireless infrastructure, optical data communication, data center, automotive, smart home, and several other applications.


	As of
Purchase Price	July 26, 2021
Cash consideration	$	2,750.0
Fair value of partially vested equity awards	4.1
Total purchase consideration	$	2,754.1

Allocation
Inventory, including step up	$	56.3
Property, plant, and equipment	4.4
Other long-term assets	0.7
Intangible assets	1,708.3
Goodwill	986.2
Liabilities assumed	(1.8)
Estimated fair value of net assets acquired	$	2,754.1

Goodwill is primarily attributable to the assembled workforce and planned growth in strategic markets. This goodwill is expected to be deductible for tax purposes.


	As of
Intangible Assets	July 26, 2021
Developed technology	$	960.1
Backlog	154.6
Customer relationships and tradename	2.5
Total identified finite-lived intangible assets	1,117.2
In-process research and development (“IPR&D”)	591.1
Total identified intangible assets	$	1,708.3


	Fiscal Years Ended
(unaudited)	October 1, 2021		October 2, 2020
Revenue	$	5,440.0	$	3,735.4
Net income	1,514.3		637.8

Fair Value

12 Months Ended

Oct. 01, 2021

Fair Value Disclosures [Abstract]

FAIR VALUE

. FAIR VALUE

Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis

The Company measures certain assets and liabilities at fair value on a recurring basis such as its financial instruments. There have been no transfers between Level 1, 2, or 3 assets or liabilities during the fiscal year ended October 1, 2021.

Assets and liabilities recorded at fair value on a recurring basis consisted of the following (in millions):


	As of October 1, 2021								As of October 2, 2020
			Fair Value Measurements								Fair Value Measurements
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets
Cash and cash equivalents*	$	882.9	$	882.9	$	—	$	—	$	566.7	$	561.2	$	5.5	$	—
U.S. Treasury and government securities	13.6		2.6		11.0		—		134.4		43.2		91.2		—
Corporate bonds and notes	117.0		—		117.0		—		276.8		—		276.8		—
Municipal bonds	13.7		—		13.7		—		2.1		—		2.1		—
Total	$	1,027.2	$	885.5	$	141.7	$	—	$	980.0	$	604.4	$	375.6	$	—

* Cash equivalents included in Levels 1 and 2 consist of money market funds and corporate bonds and notes, commercial paper, and agency securities purchased with less than ninety days until maturity.

Assets Measured and Recorded at Fair Value on a Nonrecurring Basis

The Company’s non-financial assets and liabilities, such as goodwill, intangible assets, and other long-lived assets resulting from business combinations, are measured at fair value using income approach valuation methodologies at the date of acquisition and are subsequently re-measured if there are indicators of impairment. During fiscal 2021, there were no indicators of impairment identified.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Inventory

12 Months Ended

Oct. 01, 2021

Inventory, Net [Abstract]

INVENTORY

. INVENTORY

Inventory consists of the following (in millions):


	As of
	October 1, 2021		October 2, 2020
Raw materials	$	62.2	$	37.8
Work-in-process	595.9		566.4
Finished goods	224.4		198.9
Finished goods held on consignment by customers	2.5		2.9
Total inventory	$	885.0	$	806.0

Property, Plant And Equipment

12 Months Ended

Oct. 01, 2021

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

. PROPERTY, PLANT, AND EQUIPMENT, NET

Property, plant, and equipment, net consists of the following (in millions):


	As of
	October 1, 2021		October 2, 2020
Land and improvements	$	11.9	$	11.8
Buildings and improvements	470.7		424.8
Furniture and fixtures	60.2		46.5
Machinery and equipment	2,990.2		2,556.1
Construction in progress	177.0		140.7
Total property, plant, and equipment, gross	3,710.0		3,179.9
Accumulated depreciation	(2,208.4)		(1,930.4)
Total property, plant, and equipment, net	$	1,501.6	$	1,249.5

Marketable Securities (Notes)

12 Months Ended

Oct. 01, 2021

Investments, Debt and Equity Securities [Abstract]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure

. MARKETABLE SECURITIES

The Company's portfolio of available-for-sale marketable securities consists of the following (in millions):


	Current				Noncurrent
Available-for-sale:	October 1, 2021		October 2, 2020		October 1, 2021		October 2, 2020
U.S. Treasury and government	$	7.6	$	129.4	$	6.0	$	5.0
Corporate bonds and notes	117.0		276.8		—		—
Municipal bonds	12.6		1.9		1.1		0.2
Total	$	137.2	$	408.1	$	7.1	$	5.2

The contractual maturities of noncurrent available-for-sale marketable securities were due within two years or less. There were no gross unrealized gains or losses as of October 1, 2021. There were gross unrealized gains of $0.3 million on U.S. Treasury securities and $0.2 million on corporate bonds and notes as of October 2, 2020.

Goodwill and Intangible Assets

12 Months Ended

Oct. 01, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

. GOODWILL AND INTANGIBLE ASSETS The Company’s goodwill balance was $2,176.7 million and $1,189.8 million as of October 1, 2021, and October 2, 2020, respectively. Goodwill increased by $986.9 million in fiscal 2021 due to acquisitions completed during the period. See Note 3 to Item 8 of this Annual Report on Form 10-K for a detailed discussion of goodwill acquired. The Company performed an

impairment test of its goodwill as of the first day of the fourth fiscal quarter in accordance with its regularly scheduled testing. The results of this test indicated that the Company’s goodwill was not impaired. There were no other indicators of impairment noted during the fiscal year ended October 1, 2021.

Intangible assets consist of the following (in millions):


		As of						As of
	Weighted average amortization period (years)	October 1, 2021						October 2, 2020
		Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Customer relationships and backlog	2.5	$	174.3	$	(44.0)	$	130.3	$	18.2	$	(15.8)	$	2.4
Developed technology and other	4.2	1,036.9		(88.0)		948.9		101.0		(81.6)		19.4
Trademarks	3.0	1.0		(1.0)		—		1.6		(1.5)		0.1
Technology licenses	2.6	48.4		(23.9)		24.5		$	26.3	(14.2)		12.1
IPR&D		594.9		—		594.9		$	19.5	—		19.5
Total intangible assets		$	1,855.5	$	(156.9)	$	1,698.6	$	166.6	$	(113.1)	$	53.5

Fully amortized intangible assets are eliminated from both the gross and accumulated amortization amounts in the first quarter of each fiscal year.

Annual amortization expense for the next five fiscal years related to definite-lived intangible assets, excluding IPR&D, is expected to be as follows (in millions):


	2022		2023		2024		2025		2026		Thereafter
Amortization expense, cost of goods sold	$	156.1	$	144.0	$	129.5	$	115.1	$	100.8	$	298.8
Amortization expense, operating expense	$	110.3	$	40.3	$	5.4	$	2.3	$	1.1	$	—
Total amortization expense	$	266.4	$	184.3	$	134.9	$	117.4	$	101.9	$	298.8

Income Taxes

12 Months Ended

Oct. 01, 2021

Income Tax Disclosure [Abstract]

INCOME TAXES

. INCOME TAXES

Income before income taxes consists of the following components (in millions):


	Fiscal Years Ended
	October 1, 2021		October 2, 2020		September 27, 2019
United States	$	804.7	$	435.9	$	427.2
Foreign	794.0		455.8		533.8
Income before income taxes	$	1,598.7	$	891.7	$	961.0

The provision for income taxes consists of the following components (in millions):


	Fiscal Years Ended
	October 1, 2021		October 2, 2020		September 27, 2019
Current tax expense (benefit):
Federal	$	87.5	$	44.4	$	85.3
State	—		—		(0.1)
Foreign	70.7		49.5		23.5
	158.2		93.9		108.7
Deferred tax expense (benefit):
Federal	(45.8)		(6.8)		(0.4)
State	(0.1)		—		—
Foreign	(11.9)		(10.2)		(0.9)
	(57.8)		(17.0)		(1.3)

Provision for income taxes	$	100.4	$	76.9	$	107.4

The actual income tax expense is different than that which would have been computed by applying the federal statutory tax rate to income before income taxes. A reconciliation of income tax expense as computed at the United States federal statutory income tax rate to the provision for income tax expense is as follows (in millions):


	Fiscal Years Ended
	October 1, 2021		October 2, 2020		September 27, 2019
Tax expense at United States statutory rate	$	335.7	$	187.3	$	201.8
Foreign tax rate difference	(155.2)		(86.6)		(115.3)
Tax on deemed repatriation	—		0.2		8.1
Effect of stock compensation	(13.5)		(10.3)		(1.6)
Research and development credits	(27.0)		(23.0)		(25.7)
Change in tax reserve	(51.5)		9.6		18.4
Global Intangible Low-Taxed Income	69.0		35.9		54.3
Foreign Derived Intangible Income	(79.7)		(41.2)		(41.5)
Other, net	22.6		5.0		9.0
Provision for income taxes	$	100.4	$	76.9	$	107.4

The Company operates in foreign jurisdictions with income tax rates lower than the United States tax rate of 21.0% for the fiscal years ended October 1, 2021, and October 2, 2020. The Company’s tax benefits related to foreign earnings taxed at a rate less than the United States federal rate were $155.2 million, $86.6 million, and $115.3 million for the fiscal years ended October 1, 2021, October 2, 2020, and September 27, 2019, respectively.

The Company’s federal income tax returns for fiscal 2018 and fiscal 2019 are currently under Internal Revenue Service (“IRS”) examination. During fiscal 2021, the Company concluded an IRS examination of its federal income tax returns for fiscal 2015 and 2016. With the conclusion of the audit, the Company decreased the reserve for uncertain tax positions, including accrued interest and penalties, which resulted in the recognition of an income tax benefit of $34.8 million.

On October 2, 2010, the Company expanded its presence in Asia by launching operations in Singapore. The Company operates under a tax holiday in Singapore, which is effective through September 30, 2030. The current tax holiday is conditioned upon the Company’s compliance with certain employment and investment thresholds in Singapore. The impact of the tax holiday decreased Singapore’s taxes by $99.5 million, $63.1 million, and $32.8 million for the fiscal years ended October 1, 2021, October 2, 2020, and September 27, 2019, respectively, which resulted in tax benefits of $0.60, $0.37, and $0.19 of diluted earnings per share, respectively. These tax benefits were partially offset by an increase in tax expense on GILTI.

Deferred income tax assets and liabilities consist of the tax effects of temporary differences related to the following (in millions):


	Fiscal Years Ended
	October 1, 2021		October 2, 2020
Deferred tax assets:
Inventory	$	15.8	$	12.1
Accrued compensation and benefits	12.7		10.1
Product returns, allowances, and warranty	0.9		0.4
Share-based and other deferred compensation	31.8		25.9
Net operating loss carry forwards	7.1		7.4
Non-United States tax credits	17.0		16.5
State tax credits	126.9		115.5
Operating leases	45.4		43.4
Prepayments	42.1		—
Property, plant, and equipment	35.8		24.3
Other, net	15.0		5.9
Deferred tax assets	350.5		261.5
Less valuation allowance	(150.0)		(137.4)
Net deferred tax assets	200.5		124.1
Deferred tax liabilities:
Property, plant, and equipment	(38.6)		(26.4)
Intangible assets	(5.3)		(7.6)
Operating leases	(40.4)		(41.5)
Other, net	(15.6)		(7.5)
Net deferred tax liabilities	(99.9)		(83.0)
Total net deferred tax assets	$	100.6	$	41.1

The deferred tax assets and liabilities based on tax jurisdictions are presented on our Consolidated Balance Sheets as follows:


	As of
	October 1, 2021		October 2, 2020
Deferred tax assets	$	119.5	$	55.3
Deferred tax liabilities	(18.9)		(14.2)
Net deferred tax asset	$	100.6	$	41.1

In accordance with GAAP, management has determined that it is more likely than not that a portion of the Company's historic and current year income tax benefits will not be realized. As of October 1, 2021, the Company has a valuation allowance of $150.0 million. This valuation allowance is comprised of $126.9 million related to United States state tax credits, $3.3 million related to United States state net operating loss carry forwards, and $19.8 million related to foreign deferred tax assets. The state tax credits relate primarily to California research tax credits that can be carried forward indefinitely, for which the Company has provided a full valuation allowance. The Company does not anticipate sufficient taxable income or tax liability to utilize these state and foreign credits. If these benefits are recognized in a future period, the valuation allowance on deferred tax assets will be reversed and up to a $150.0 million income tax benefit may be recognized. The Company will need to generate $351.7 million of future United States federal taxable income to utilize its United States deferred tax assets, excluding state deferred tax assets with a full valuation allowance, as of October 1, 2021. The Company believes that future reversals of taxable temporary differences, and its forecast of continued earnings in its domestic and foreign jurisdictions, support its decision to not record a valuation allowance on other deferred tax assets. The Company will continue to assess its valuation allowance in future periods. The net valuation allowance increased by $12.6 million and $8.3 million in fiscal 2021 and fiscal 2020, respectively, primarily related to increases for foreign and state net operating loss and tax credit carryovers.

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (in millions):


	Unrecognized tax benefits
Balance at October 2, 2020	$	117.6
Decreases based on positions related to prior years	(28.6)
Increases based on positions related to current year	5.4
Decreases relating to settlements with taxing authorities	(13.6)
Decreases relating to lapses of applicable statutes of limitations	(25.5)
Balance at October 1, 2021	$	55.3

Of the total unrecognized tax benefits at October 1, 2021, $35.9 million would impact the effective tax rate, if recognized. The remaining unrecognized tax benefits would not impact the effective tax rate, if recognized, due to the Company’s valuation allowance and certain positions that were required to be capitalized.

The Company anticipates reversals within the next 12 months related to items such as the lapse of the statute of limitations, audit closures, and other items that occur in the normal course of business. Due to open examinations, an estimate of anticipated reversals within the next 12 months cannot be made. During fiscal 2021, the Company recognized an $11.6 million benefit for interest or penalties related to unrecognized tax benefits. During fiscal 2020 and 2019, the Company recognized $4.6 million and $6.0 million, respectively, of interest or penalties related to unrecognized tax benefits. Accrued interest and penalties of $4.5 million and $16.1 million related to uncertain tax positions have been included in long-term tax liabilities within the consolidated balance sheet as of October 1, 2021, and October 2, 2020, respectively.

The Company’s major tax jurisdictions as of October 1, 2021, are the United States, California, Canada, Mexico, Japan, and Singapore. For the United States, the Company has open tax years dating back to fiscal 2018. For California, the Company has open tax years dating back to fiscal 1999 due to the carry forward of tax attributes. For Canada, the Company has open tax years dating back to fiscal 2014. For Mexico, the Company has open tax years back to fiscal 2015. For Japan, the Company has open tax years back to fiscal 2014. For Singapore, the Company has open tax years dating back to fiscal 2015. The Company is subject to audit examinations by the respective taxing authorities on a periodic basis, of which the results could impact its financial position, results of operations, or cash flows.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Stockholders' Equity

12 Months Ended

Oct. 01, 2021

Stockholders' Equity Note [Abstract]

STOCKHOLDERS’ EQUITY

10. STOCKHOLDERS’ EQUITY

Common Stock

At October 1, 2021, the Company is authorized to issue 525.0 million shares of common stock, par value $0.25 per share, of which 165.3 million shares are issued and outstanding.

Holders of the Company’s common stock are entitled to dividends in the event declared by the Company’s Board of Directors out of funds legally available for such purpose. Dividends may not be paid on common stock unless all accrued dividends on preferred stock, if any, have been paid or declared and set aside. In the event of the Company’s liquidation, dissolution or winding up, the holders of common stock will be entitled to share pro rata in the assets remaining after payment to creditors and after payment of the liquidation preference plus any unpaid dividends to holders of any outstanding preferred stock.

Each holder of the Company’s common stock is entitled to one vote for each such share outstanding in the holder’s name. No holder of common stock is entitled to cumulate votes in voting for directors. The Company’s restated certificate of incorporation as amended to date (the “Certificate of Incorporation”) provides that, unless otherwise determined by the Company’s Board of Directors, no holder of stock has any preemptive right to purchase or subscribe for any stock of any class which the Company may issue or sell.

Preferred Stock

The Company’s Certificate of Incorporation has authorized and permits the Company to issue up to 25.0 million shares of preferred stock without par value in one or more series and with rights and preferences that may be fixed or designated by the Company’s Board of Directors without any further action by the Company’s stockholders. The designation, powers,

preferences, rights and qualifications, limitations, and restrictions of the preferred stock of each series will be fixed by the certificate of designation relating to such series, which will specify the terms of the preferred stock. At October 1, 2021, the Company had no shares of preferred stock issued or outstanding.

Stock Repurchase

On January 26, 2021, the Board of Directors approved a stock repurchase program, pursuant to which the Company is authorized to repurchase up to $2.0 billion of its common stock from time to time prior to January 26, 2023, on the open market or in privately negotiated transactions as permitted by securities laws and other legal requirements. This authorized stock repurchase program replaced in its entirety the January 30, 2019, stock repurchase program. The timing and amount of any shares of the Company’s common stock that are repurchased under the repurchase program are determined by the Company’s management based on its evaluation of market conditions and other factors.

During the fiscal year ended October 1, 2021, the Company paid approximately $195.6 million (including commissions) in connection with the repurchase of 1.4 million shares of its common stock (paying an average price of $138.85 per share) under the January 30, 2019, stock repurchase plan. As of October 1, 2021, $2.0 billion remained available under the January 26, 2021, stock repurchase plan.

During the fiscal year ended October 1, 2021, the Board of Directors approved the retirement of 68.5 million shares of treasury stock at an aggregated historical cost of $4,342.6 million.

During the fiscal year ended October 2, 2020, the Company paid approximately $647.5 million (including commissions) in connection with the repurchase of 6.3 million shares of its common stock (paying an average price of $102.74 per share). During the fiscal year ended September 27, 2019, the Company paid approximately $657.6 million (including commissions) in connection with the repurchase of 8.9 million shares of its common stock (paying an average price of $74.26 per share).

Dividends

On November 4, 2021, the Company announced that the Board of Directors had declared a cash dividend on the Company’s common stock of $0.56 per share. This dividend is payable on December 14, 2021, to the Company’s stockholders of record as of the close of business on November 23, 2021. Future dividends are subject to declaration by the Board of Directors. The dividends charged to retained earnings in fiscal 2021 and 2020 were as follows (in millions except per share data):


	Fiscal Years Ended
	October 1, 2021				October 2, 2020
	Per Share		Total		Per Share		Total
First quarter	$	0.50	$	83.0	$	0.44	$	75.1
Second quarter	0.50		82.6		0.44		74.9
Third quarter	0.50		82.5		0.44		73.5
Fourth quarter	0.56		92.5		0.50		83.5
	$	2.06	$	340.6	$	1.82	$	307.0

Employee Stock Benefit Plans

As of October 1, 2021, the Company has the following equity compensation plans under which its equity securities were authorized for issuance to its employees and/or directors:

◦the 2002 Employee Stock Purchase Plan

◦the Non-Qualified Employee Stock Purchase Plan

◦the 2005 Long-Term Incentive Plan

◦the 2008 Director Long-Term Incentive Plan

◦the 2015 Long-Term Incentive Plan

Except for the Non-Qualified Employee Stock Purchase Plan, each of the foregoing equity compensation plans was approved by the Company’s stockholders.

As of October 1, 2021, a total of 81.8 million shares are authorized for grant under the Company’s share-based compensation plans, with 0.2 million options outstanding. The number of common shares reserved for future awards to employees and directors under these plans was 16.3 million at October 1, 2021. The Company currently grants new equity awards to employees under the 2015 Long-Term Incentive Plan and to non-employee directors under the 2008 Director Long-Term Incentive Plan.

2015 Long-Term Incentive Plan. Under this plan, officers, employees, and certain consultants may be granted stock options, restricted stock units, performance stock units, and other share-based awards. The plan has been approved by the stockholders. Under the plan, up to 24.5 million shares have been authorized for grant. A total of 14.0 million shares are available for new grants as of October 1, 2021. The maximum contractual term of options under the plan is seven years from the date of grant. Options granted under the plan at the determination of the compensation committee generally vest ratably over four years. Restricted stock units granted under the plan at the determination of the compensation committee generally vest over three or more years. No dividends or dividend equivalents are accumulated or paid with respect to restricted stock unit awards or other awards until the shares underlying such awards vest and are issued to the award holder. Performance stock units are contingently granted depending on the achievement of certain predetermined performance goals and generally vest over one or more years.

2008 Director Long-Term Incentive Plan. Under this plan, non-employee directors may be granted stock options, restricted stock units, and other share-based awards. The plan has been approved by the stockholders. Under the plan a total of 1.5 million shares have been authorized for grant. A total of 0.6 million shares are available for new grants as of October 1, 2021. The maximum contractual term of options granted under the plan is ten years from the date of grant. Options granted under the plan are generally exercisable over four years. Restricted stock units granted under the plan generally vest over one or more years.

Employee Stock Purchase Plans. The Company maintains a domestic and an international employee stock purchase plan. Under these plans, eligible employees may purchase common stock through payroll deductions of up to 10% of their compensation. The price per share is the lower of 85% of the fair market value of the common stock at the beginning or end of each offering period (six months). The plans provide for purchases by employees of up to an aggregate of 11.6 million shares. Shares of common stock purchased under these plans in the fiscal years ended October 1, 2021, October 2, 2020, and September 27, 2019, were 0.2 million, 0.3 million, and 0.3 million, respectively. At October 1, 2021, there are 1.6 million shares available for purchase. The Company recognized compensation expense of $8.7 million, $6.6 million, and $5.8 million for the fiscal years ended October 1, 2021, October 2, 2020, and September 27, 2019, respectively, related to the employee stock purchase plan. The unrecognized compensation expense on the employee stock purchase plan at October 1, 2021, was $3.1 million. The weighted average period over which the cost is expected to be recognized is approximately four months.

Stock Options

The following table represents a summary of the Company’s stock options:


	Shares (in millions)	Weighted average exercise price		Weighted average remaining contractual life (in years)	Aggregate intrinsic value (in millions)
Balance outstanding at October 2, 2020	0.4	$	70.28
Granted	—	$	143.87
Exercised	(0.2)	$	66.35
Canceled/forfeited	—	$	31.88
Balance outstanding at October 1, 2021	0.2	$	74.68	1.8	$	16.7

Exercisable at October 1, 2021	0.2	$	74.12	1.7	$	16.2

The weighted-average grant date fair value per share of employee stock options granted during the fiscal years ended October 1, 2021, October 2, 2020, and September 27, 2019, was $39.63, $24.49, and $21.74, respectively.

Restricted and Performance Awards and Units

The following table represents a summary of the Company’s restricted and performance awards and units:


	Shares (in millions)	Weighted average grant date fair value
Non-vested awards outstanding at October 2, 2020	2.9	$	94.77
Granted (1)	1.5	$	148.96
Vested	(1.1)	$	102.94
Canceled/forfeited	(0.6)	$	105.34
Non-vested awards outstanding at October 1, 2021	2.7	$	118.90
(1) includes performance stock awards granted and earned assuming target performance under the underlying performance metrics

The weighted-average grant date fair value per share for awards granted during the fiscal years ended October 1, 2021, October 2, 2020, and September 27, 2019, was $148.96, $99.68, and $78.41, respectively.

The following table summarizes the total intrinsic value for stock options exercised and awards vested (in millions):


	Fiscal Years Ended
	October 1, 2021		October 2, 2020		September 27, 2019
Awards	$	167.4	$	100.9	$	67.7
Options	$	18.6	$	44.2	$	26.4

Valuation and Expense Information

The following table summarizes pre-tax share-based compensation expense by financial statement line and related tax benefit (in millions):


	Fiscal Years Ended
	October 1, 2021		October 2, 2020		September 27, 2019
Cost of goods sold	$	28.9	$	23.2	$	13.0
Research and development	85.7		68.7		41.6
Selling, general and administrative	77.3		64.7		25.5
Total share-based compensation expense	$	191.9	$	156.6	$	80.1

Share-based compensation tax benefit	$	13.5	$	10.3	$	1.6
Capitalized share-based compensation expense at period end	$	9.8	$	10.6	$	4.7

The following table summarizes total compensation costs related to unvested share-based awards not yet recognized and the weighted average period over which it is expected to be recognized at October 1, 2021:


	Unrecognized compensation cost for unvested awards (in millions)		Weighted average remaining recognition period (in years)
Awards	$	202.0	2.9
Options	$	0.1	1.3

The fair value of the restricted stock units is equal to the closing market price of the Company’s common stock on the date of grant.

The Company issued performance stock unit awards during fiscal 2021, fiscal 2020, and fiscal 2019 that contained market-based conditions. The fair value of these performance stock unit awards was estimated on the date of the grant using a Monte Carlo simulation with the following weighted average assumptions:


	Fiscal Year Ended
	October 1, 2021		October 2, 2020		September 27, 2019
Volatility of common stock	43.20	%	32.22	%	32.65	%
Average volatility of peer companies	45.96	%	33.96	%	37.07	%
Average correlation coefficient of peer companies	0.65		0.61		0.47
Risk-free interest rate	0.25	%	1.62	%	2.98	%
Dividend yield	1.39	%	1.78	%	1.84	%

The fair value of each stock option is estimated on the date of the grant using the Black-Scholes option pricing model with the following weighted average assumptions:


	Fiscal Years Ended
	October 1, 2021		October 2, 2020		September 27, 2019
Expected volatility	39.65	%	34.26	%	34.47	%
Risk-free interest rate	0.13	%	1.65	%	2.76	%
Dividend yield	1.39	%	1.78	%	1.84	%
Expected option life (in years)	4.0		4.0		4.0

The Company used a historical volatility calculated by the mean reversion of the weekly-adjusted closing stock price over the expected life of the options. The risk-free interest rate assumption is based upon observed treasury bill interest rates appropriate for the expected life of the Company’s employee stock options. The dividend yield was calculated based on the annualized dividend and the stock price on the date of grant.

The expected life of employee stock options represents a calculation based upon the historical exercise, cancellation, and forfeiture experience for the Company across its demographic population. The Company believes that this historical data is the best estimate of the expected life of a new option and that generally all groups of the Company’s employees exhibit similar behavior.

Leases, Codification Topic 842

12 Months Ended

Oct. 01, 2021

Leases [Abstract]

Lessee, Operating Leases

11. LEASES

The Company’s lease arrangements consist primarily of corporate, manufacturing, and other facility agreements as well as various machinery and office equipment agreements. The leases expire at various dates through 2033, some of which include options to extend the lease term. The options with the longest potential total lease term consist of options for extension of up to three five-year periods following expiration of the original lease term.

During the fiscal years ended October 1, 2021, and October 2, 2020, the Company recorded $33.9 million and $28.1 million of operating lease expense and $3.2 million and $7.6 million of variable lease expense, respectively. During the fiscal year ended September 27, 2019, the Company recorded $18.7 million of rent expense. The Company’s finance leases and short-term leases are immaterial.

Supplemental cash information and non-cash activities related to operating leases are as follows (in millions):


	Fiscal Year Ended
	October 1, 2021		October 2, 2020
Operating cash outflows from operating leases	$	32.5	25.4
Operating lease assets obtained in exchange for new lease liabilities	$	24.8	31.0

Maturities of lease liabilities under operating leases by fiscal year are as follows (in millions):


	As of
	October 1, 2021
2022	31.9
2023	29.4
2024	24.4
2025	22.3
2026	21.7
Thereafter	69.1
Total lease payments	198.8
Less: imputed interest	(21.3)
Present value of lease liabilities	177.5
Less: current portion (included in other current liabilities)	(33.0)
Total	$	144.5

Weighted-average remaining lease term and discount rate related to operating leases are as follows:


	As of
	October 1, 2021		October 2, 2020
Weighted-average remaining lease term (years)	7.5		8.2
Weighted-average discount rate	3.1	%	3.3	%

Commitments	12 Months Ended
Commitments	Oct. 01, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS	12. COMMITMENTS AND CONTINGENCIES Legal Matters From time to time, various lawsuits, claims and proceedings have been, and may in the future be, instituted or asserted against the Company, including those pertaining to patent infringement, intellectual property, environmental hazards, product liability and warranty, safety and health, employment, and contractual matters. The semiconductor industry is characterized by vigorous protection and pursuit of intellectual property rights. From time to time, third parties have asserted and may in the future assert patent, copyright, trademark, and other intellectual property rights to technologies that are important to the Company’s business and have demanded and may in the future demand that the Company license their technology. The outcome of any such litigation cannot be predicted with certainty and some such lawsuits, claims, or proceedings may be disposed of unfavorably to the Company. Generally speaking, intellectual property disputes often have a risk of injunctive relief, which, if imposed against the Company, could materially and adversely affect the Company’s financial condition or results of operations. From time to time the Company may also be involved in legal proceedings in the ordinary course of business. The Company monitors the status of legal proceedings and other contingencies on an ongoing basis to ensure loss contingencies are recognized and/or disclosed in its financial statements and footnotes. The Company does not believe there are any pending legal proceedings that are reasonably possible to result in a material loss. The Company is engaged in various legal actions in the normal course of business and, while there can be no assurances, the Company believes the outcome of all pending litigation involving the Company will not have, individually or in the aggregate, a material adverse effect on its business or financial statements.

Guarantees and Indemnities	12 Months Ended
Guarantees and Indemnities	Oct. 01, 2021
Guarantees [Abstract]
GUARANTEES AND INDEMNITIES	13. GUARANTEES AND INDEMNITIES The Company has made no significant contractual guarantees for the benefit of third parties. However, the Company generally indemnifies its customers from third-party intellectual property infringement litigation claims related to its products and, on occasion, also provides other indemnities related to product sales. In connection with certain facility leases, the Company has indemnified its lessors for certain claims arising from the facility or the lease. The Company indemnifies its directors and officers to the maximum extent permitted under the laws of the state of Delaware. The duration of the indemnities varies, and in many cases is indefinite. The indemnities to customers in connection with product sales generally are subject to limits based upon the amount of the related product sales and in many cases are subject to geographic and other restrictions. In certain instances, the Company’s indemnities do not provide for any limitation of the maximum potential future payments the Company could be obligated to make. The Company has not recorded any liability for these indemnities in the accompanying consolidated balance sheets and does not expect that such obligations will have a material adverse impact on its financial statements.

Earnings Per Share

12 Months Ended

Oct. 01, 2021

Earnings Per Share [Abstract]

EARNINGS PER SHARE

14. EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share (in millions, except per share amounts):


	Fiscal Years Ended
	October 1, 2021		October 2, 2020		September 27, 2019
Net income	$	1,498.3	$	814.8	$	853.6

Weighted average shares outstanding – basic	165.2		168.5		173.5
Dilutive effect of equity-based awards	1.8		1.4		1.0
Weighted average shares outstanding – diluted	167.0		169.9		174.5

Net income per share – basic	$	9.07	$	4.84	$	4.92
Net income per share – diluted	$	8.97	$	4.80	$	4.89

Anti-dilutive common stock equivalents	—		0.1		1.4

Basic earnings per share are calculated by dividing net income by the weighted average number of shares of the Company’s common stock outstanding during the period. The calculation of diluted earnings per share includes the dilutive effect of equity-based awards that were outstanding during the fiscal years ended October 1, 2021, October 2, 2020, and September 27, 2019, using the treasury stock method. Shares issuable upon the vesting of performance stock awards are likewise included in the calculation of diluted earnings per share as of the date the condition(s) have been satisfied, assuming the end of the reporting period was the end of the contingency period. Certain of the Company’s outstanding share-based awards, noted in the table above, were excluded because they were anti-dilutive, but they could become dilutive in the future.

Segment Information

12 Months Ended

Oct. 01, 2021

Segment Reporting [Abstract]

SEGMENT INFORMATION AND CONCENTRATIONS

15. SEGMENT INFORMATION AND CONCENTRATIONS

The Company has a single reportable operating segment which designs, develops, manufactures, and markets similar proprietary semiconductor products, including intellectual property. In reaching this conclusion, management considers the definition of the chief operating decision maker (“CODM”), how the business is defined by the CODM, the nature of the information provided to the CODM, and how that information is used to make operating decisions, allocate resources, and assess performance. The Company’s CODM is the president and chief executive officer. The results of operations provided to and analyzed by the CODM are at the consolidated level and accordingly, key resource decisions and assessment of performance are performed at the consolidated level. The Company assesses its determination of operating segments at least annually.

Disaggregation of Revenue and Geographic Information

The Company presents net revenue by geographic area based upon the location of the OEMs’ headquarters and sales channel as it believes that doing so best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. Individually insignificant OEMs are presented based on sales region. Net revenue by geographic area is as follows (in millions):


	Fiscal Years Ended
	October 1, 2021		October 2, 2020		September 27, 2019
United States	$	3,228.1	$	2,012.8	$	1,860.4
China	994.2		700.7		718.7
Taiwan	404.2		240.4		271.1
South Korea	264.5		254.6		365.5
Europe, Middle East, and Africa	180.1		122.9		134.9
Other Asia-Pacific	38.0		24.3		26.2
Total	$	5,109.1	$	3,355.7	$	3,376.8

Net revenue by sales channel is as follows (in millions):


	Fiscal Years Ended
	October 1, 2021		October 2, 2020		September 27, 2019
Distributors	$	4,539.7	$	2,599.8	$	2,330.9
Direct customers	569.4		755.9		1,045.9
Total	$	5,109.1	$	3,355.7	$	3,376.8

The Company’s revenue from external customers is generated principally from the sale of semiconductor products. Accordingly, the Company considers its product offerings to be similar in nature and therefore not segregated for reporting purposes.

Net property, plant, and equipment balances, based on the physical locations within the indicated geographic areas are as follows (in millions):


	As of
	October 1, 2021		October 2, 2020
Japan	$	598.9	$	507.0
Mexico	362.9		364.9
Singapore	340.0		237.4
United States	183.5		124.8
Rest of world	16.3		15.4
	$	1,501.6	$	1,249.5

Concentrations

Financial instruments that potentially subject the Company to concentration of credit risk consist principally of trade accounts receivable. Trade accounts receivable are primarily derived from sales to manufacturers of communications and consumer products and electronic component distributors. The Company performs ongoing credit evaluations of customers.

In fiscal 2021, 2020, and 2019, Apple, through sales to multiple distributors, contract manufacturers, and direct sales for multiple applications including smartphones, tablets, desktop, and notebook computers, watches and other devices, in the aggregate accounted for 59%, 56%, and 51% of the Company’s net revenue, respectively.

At October 1, 2021, the Company’s three largest accounts receivable balances comprised 70% of aggregate gross accounts receivable. This concentration was 70% and 67% at October 2, 2020, and September 27, 2019, respectively.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Debt

12 Months Ended

Oct. 01, 2021

Debt Disclosure [Abstract]

Debt Disclosure

17. DEBT

Long-term debt consists of the following (in millions, except percentages):


			As of
	Effective Interest Rate		October 1, 2021		October 2, 2020
0.90% Senior Notes due 2023	1.15	%	$	500.0	$	—
1.80% Senior Notes due 2026	1.97	%	500.0		—
3.00% Senior Notes due 2031	3.13	%	500.0		—
1.38% Term Loans due 2024	1.50	%	750.0		—
Unamortized debt discount and issuance costs			(14.4)		—
Total debt			$	2,235.6	$	—

Senior Notes

On May 26, 2021, the Company issued $500.0 million of its 0.90% Senior Notes due 2023 (the “2023 Notes”), $500.0 million of its 1.80% Senior Notes due 2026 (the “2026 Notes”), and $500.0 million of its 3.00% Senior Notes due 2031 (the “2031 Notes” and, together with the 2023 Notes and the 2026 Notes, the “Notes”). The Notes are senior unsecured obligations of the Company and rank equally in right of payment with all of its existing and future senior unsecured debt but effectively junior to any of the Company’s senior secured debt to the extent of the value of collateral securing such debt, and are structurally subordinated to all existing and future obligations of the Company’s subsidiaries. The Notes will mature on each respective maturity date, unless earlier redeemed in accordance with their terms. Interest on the Notes is payable on June 1 and December 1 of each year.

The Company may redeem all or a portion of the 2023 Notes at any time after June 1, 2022, and all or a portion of the 2026 Notes and the 2031 Notes at any time and from time to time prior to maturity, in whole or in part, for cash at the applicable redemption prices set forth in the respective supplemental indenture. If the Company undergoes a change of control repurchase event, as defined in the indenture governing the Notes (as supplemented, the “Indenture”), holders may require the Company to repurchase the Notes in whole or in part for cash at a price equal to 101% of the principal amount of the Notes to be purchased, plus any accrued and unpaid interest. As of October 1, 2021, the Company considered the likelihood of acceleration and recorded the Notes as long-term debt, net of discount and issuance costs, which are amortized to interest expense over the respective terms of these borrowings.

The Indenture contains customary events of default, including failure to make required payments of principal and interest, certain events of bankruptcy and insolvency, and default in the performance or breach of any covenant or warranty contained in the Indenture or the Notes.

Term Credit Agreement

On May 21, 2021, the Company entered into a term credit agreement (the “Term Credit Agreement”) providing for a $1.0 billion term loan facility (the “Term Loan Facility”). On July 26, 2021, the Company borrowed $1.0 billion in aggregate principal amount of term loans (the “Term Loans”) under the Term Loan Facility to finance a portion of the purchase price for the Asset Purchase and to pay fees and expenses incurred in connection therewith. During fiscal 2021, the Company repaid $250.0 million of outstanding borrowings under the Term Loans. As of October 1, 2021, there were $750.0 million of borrowings outstanding under the Term Loan Facility.

Borrowings under the Term Loan Facility are not currently guaranteed by any of the Company’s subsidiaries. Interest on the Term Loans is payable monthly and is based on the applicable floating interest rate, plus an applicable margin based on the Company’s public debt credit ratings. The Term Loans mature on July 26, 2024, and all amounts then-outstanding under the Term Loans, together with accrued and unpaid interest thereon, are repayable at maturity. There is no premium or penalty for prepayment.

The Term Credit Agreement contains customary representations and warranties and covenants, including restrictions on the incurrence of indebtedness by non-guarantor subsidiaries and the creation of liens, and a financial covenant consisting of a limitation on leverage, defined as consolidated total indebtedness divided by consolidated earnings before interest, taxes, depreciation, and amortization for the period of four consecutive quarters not to exceed a ratio of 3.0 to 1.0. The Term Credit Agreement also contains customary events of default, which include failure to make required payments of principal and interest, breaches of representations and warranties, changes of control or failures to pay money judgments and certain defaults in respect of specified material indebtedness, upon the occurrence of which, among other remedies, the lenders may accelerate the maturity of the indebtedness and other obligations under the Term Credit Agreement.

Revolving Credit Agreement

On May 21, 2021, the Company entered into a revolving credit agreement (the “Revolving Credit Agreement”) providing for a $750.0 million revolving credit facility (the “Revolver”). The proceeds of the Revolver will be used for general corporate purposes and working capital needs of the Company and its subsidiaries.

The Revolver provides for revolving credit borrowings and letters of credit, with sublimits for letters of credit. The Revolver may be increased in specified circumstances by up to $250.0 million at the discretion of the lenders. The Revolver matures on July 26, 2026, and all unpaid borrowings, together with accrued and unpaid interest thereon, are repayable at maturity.

The Revolving Credit Agreement contains customary representations and warranties and covenants, including restrictions on the incurrence of indebtedness by non-guarantor subsidiaries and the creation of liens, and a financial covenant consisting of a limitation on leverage, defined as consolidated total indebtedness divided by consolidated earnings before interest, taxes, depreciation, and amortization for the period of four consecutive quarters not to exceed a ratio of 3.0 to 1.0. As of October 1, 2021, there were no borrowings outstanding under the Revolver.

Fair Value of Debt

The Company’s debt is carried at amortized cost and is measured at fair value quarterly for disclosure purposes. The estimated fair values are based on Level 2 inputs as the fair value is based on quoted prices for the Company’s debt and comparable instruments in inactive markets. The carrying value of the Term Loan approximates its fair value as the Term Loan is carried at a market observable interest rate that resets periodically.

The estimated fair value of debt consists of the following (in millions):


	As of
	October 1, 2021		October 2, 2020
0.90% Senior Notes due 2023	$	501.0	$	—
1.80% Senior Notes due 2026	507.5		—
3.00% Senior Notes due 2031	514.6		—
Total debt under Senior Notes	$	1,523.1	$	—

Other Liabilities

12 Months Ended

Oct. 01, 2021

Condensed Financial Information Disclosure [Abstract]

Additional Financial Information Disclosure

16. SUPPLEMENTAL FINANCIAL INFORMATION

Other current liabilities consist of the following (in millions):


	As of
	October 1, 2021		October 2, 2020
Accrued taxes	$	88.6	$	31.2
Operating lease liability	33.0		28.2
Accrued customer liabilities	119.7		20.3
Other	45.9		28.3
Total other current liabilities	$	287.2	$	108.0

Other income (expense), net consists of the following (in millions):


	Fiscal Years Ended
	October 1, 2021		October 2, 2020		September 27, 2019
Interest income	$	1.2	$	9.6	$	18.8
Net gains (losses) on marketable securities	0.1		0.1		—
Other income	4.2		6.8		5.5
Other expense	(6.1)		(16.6)		(15.3)
Total other income (expense), net	$	(0.6)	$	(0.1)	$	9.0

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Oct. 01, 2021
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation All Skyworks subsidiaries are included in the Company’s consolidated financial statements and all intercompany balances are eliminated in consolidation. Certain items in the fiscal years 2019 and 2020 financial statements have been reclassified to conform to the fiscal 2021 presentation.
Fiscal Year	Fiscal YearThe Company’s fiscal year ends on the Friday closest to September 30. Fiscal 2021 and 2019 each consisted of 52 weeks and ended on October 1, 2021, and September 27, 2019, respectively. Fiscal 2020 consisted of 53 weeks and ended on October 2, 2020.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts of assets, liabilities, revenue, expenses, comprehensive income, and accumulated other comprehensive loss during the reporting period. The Company evaluates its estimates on an ongoing basis using historical experience and other factors, including the current economic environment. Judgment is required in determining the reserves for and fair value of items such as overall fair value assessments of assets and liabilities, particularly those classified as Level 2 or Level 3 in the fair value hierarchy, marketable securities, inventory, intangible assets associated with business combinations, share-based compensation, revenue reserves, loss contingencies, and income taxes. In addition, judgment is required in determining whether a potential indicator of impairment of long-lived assets exists and in estimating future cash flows for any necessary impairment testing. Actual results could differ significantly from these estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company invests excess cash in time deposits, certificates of deposit, money market funds, U.S. Treasury securities, agency securities, other government securities, corporate debt securities, and commercial paper. The Company considers highly liquid investments as cash equivalents including money market funds and investments with maturities of 90 days or less when purchased.
Investments	Investments The Company classifies its investment in marketable debt securities as “available-for-sale.” Available-for-sale securities are carried at fair value with unrealized holding gains or losses recorded in other comprehensive income, net of tax. Gains or losses are included in earnings in the period in which they are realized. The cost of securities sold is determined based on the specific identification method. The cost of available-for-sale debt securities is adjusted for premiums and discounts, with the amortization or accretion of such amounts included as a portion of interest. Available-for-sale debt securities with an original maturity date greater than three months and less than one year are classified as current investments. Available-for-sale debt securities with an original maturity date exceeding one year are classified as long-term.
Fair Value	Fair Value Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principle or most advantageous market in an orderly transaction between market participants at the measurement date. Applicable accounting guidance provides a hierarchy for inputs used in measuring fair value that prioritize the use of observable inputs over the use of unobservable inputs, when such observable inputs are available. The three levels of inputs that may be used to measure fair value are as follows: •Level 1 - Quoted prices in active markets for identical assets or liabilities. •Level 2 - Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets with insufficient volume or infrequent transactions (less active markets), or model-driven valuations in which all significant inputs are observable or can be derived principally from, or corroborated with, observable market data. •Level 3 - Fair value is derived from valuation techniques in which one or more significant inputs are unobservable, including assumptions and judgments made by the Company. It is the Company’s policy to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements. When available, the Company uses quoted market prices to measure fair value. If market prices are not available, the Company is required to make judgments about assumptions market participants would use to estimate the fair value of a financial instrument. The Company measures certain assets and liabilities at fair value on a recurring basis in three levels, based on the market in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. It recognizes transfers within the fair value hierarchy at the end of the fiscal quarter in which the change in circumstances that caused the transfer occurred. The carrying value of cash and cash equivalents, accounts receivable, other current assets, accounts payable, and accrued liabilities approximates fair value due to the short-term maturities of these assets and liabilities.
Inventory	Inventory Inventory is stated at the lower of cost or net realizable value on a first-in, first-out basis. Reserves for excess and obsolete inventory are established on a quarterly basis and are based on a detailed analysis of aged material, salability of our inventory, market conditions, and product life cycles. Once reserves are established, write-downs of inventory are considered permanent adjustments to the cost basis of inventory.
Property, Plant and Equipment	Property, Plant, and Equipment Property, plant, and equipment are carried at cost less accumulated depreciation, with significant renewals and betterments being capitalized and retired equipment written off in the respective periods. Maintenance and repairs are expensed as incurred. Depreciation is calculated using the straight-line method over the estimated useful lives, which range from five to thirty years for buildings and improvements and three to ten years for machinery and equipment. Leasehold improvements are depreciated over the lesser of the economic life or the life of the associated lease.
Valuation of Long-Lived Assets	Valuation of Long-Lived Assets Definite lived intangible assets are carried at cost less accumulated amortization. Amortization is calculated based on the pattern of benefit to be recognized from the underlying asset over its estimated useful life. Carrying values for long-lived assets and definite lived intangible assets are reviewed for possible impairment as circumstances warrant. Factors considered important that could result in an impairment review include significant underperformance relative to expected, historical or projected future operating results, significant changes in the manner of use of assets or the Company’s business strategy, or significant negative industry or economic trends. In addition, impairment reviews are conducted at the judgment of management whenever asset values are deemed to be unrecoverable relative to future undiscounted cash flows expected to be generated by that particular asset group. The determination of recoverability is based on an estimate of undiscounted cash flows expected to result from the use of an asset group and its eventual disposition. Such estimates require management to exercise judgment and make assumptions regarding factors such as future revenue streams, operating expenditures, cost allocation and asset utilization levels, all of which collectively impact future operating performance. The Company’s estimates of undiscounted cash flows may differ from actual cash flows due to, among other things, technological changes, economic conditions, changes to its business model, or changes in its operating performance. If the sum of the undiscounted cash flows is less than the carrying value of an asset group, the Company would recognize an impairment loss, measured as the amount by which the carrying value exceeds the fair value of the asset group.
Goodwill and Indefinite Intangible Assets	Goodwill and Indefinite-Lived Intangible Assets Goodwill and indefinite-lived intangible assets are not amortized but are tested at least annually as of the first day of the fourth fiscal quarter for impairment or more frequently if indicators of impairment exist during the fiscal year. The Company assesses its conclusion regarding segments and reporting units in conjunction with its annual goodwill impairment test and has determined that it has one reporting unit for the purposes of allocating and testing goodwill. The Company’s impairment analysis compares its fair value to its net book value to determine if there is an indicator of impairment. In the Company’s calculation of fair value, it considers the closing price of its common stock on the selected testing date, the number of shares of its common stock outstanding and other marketplace activity such as a related control premium. If the calculated fair value is determined to be less than the book value of the reporting unit, an impairment loss is recognized equal to that excess; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit.
Business Combinations	Business Combinations The Company uses the acquisition method of accounting for business combinations and recognizes assets acquired and liabilities assumed at their fair values on the date acquired. Goodwill represents the excess of the purchase price over the fair value of the acquired identifiable net assets. The fair values of the assets and liabilities acquired are determined based upon the Company’s valuation using a combination of market, income, or cost approaches. The valuation involves making significant estimates and assumptions, which are based on detailed financial models including the projection of future cash flows, the weighted average cost of capital, and any cost savings that are expected to be derived in the future from the viewpoint of a market participant.
Revenue Recognition	Revenue Recognition The Company derives its revenue primarily from the sale of semiconductor products under individual customer purchase orders, some of which have underlying master sales agreements that specify terms governing the product sales. In the absence of a sales agreement, the Company’s standard terms and conditions apply. Revenue is recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The Company applies a five-step approach as defined in FASB ASC 606, Revenue from Contracts with Customers (Topic 606), in determining the amount and timing of revenue to be recognized: (1) identifying the contract with a customer; (2) identifying the performance obligations in the contract; (3) determining the transaction price; (4) allocating the transaction price to the performance obligations in the contract; and (5) recognizing revenue when the corresponding performance obligation is satisfied. Each distinct promise to transfer products is considered to be an identified performance obligation for which revenue is recognized at a point in time upon transfer of control of the products to the customer. Transfer of control occurs upon shipment to the distributor or direct customer or when products are pulled from consignment inventory by the customer. Point in time recognition is determined as products manufactured under non-cancellable orders create an asset with an alternative use to the Company. Returns under the Company’s general assurance warranty of products have not been material, and warranty-related services are not considered a separate performance obligation. Pricing adjustments and estimates of returns are treated as variable consideration for purposes of determining the transaction price. Sales returns are generally accepted at the Company’s discretion or from distributors with stock rotation rights. Stock rotation allows distributors limited levels of returns and is based on the distributor’s prior purchases. Price protection represents price discounts granted to certain distributors and is based on negotiations on sales to end customers. Variable consideration is estimated using the expected value method considering all reasonably available information, including the Company’s historical experience and its current expectations, and is reflected in the transaction price when sales are recorded. The Company records net revenue excluding taxes on its sales to trade customers. Accounts receivable represents the Company’s unconditional right to receive consideration from its customer. Substantially all payments are collected within the Company’s standard terms, which do not include a significant financing component. To date, there have been no material impairment losses on accounts receivable. There were no material contract assets or contract liabilities recorded on the consolidated balance sheet in any of the periods presented. All incremental customer contract acquisition costs are expensed as they are incurred as the amortization period of the asset that the Company otherwise would have recognized is one year or less in duration.
Share-based Compensation	Share-Based Compensation The Company recognizes compensation expense for all share-based payment awards made to employees and directors including non-qualified employee stock options, share awards and units, employee stock purchase plan, and other special share-based awards based on estimated fair values. The fair value of share-based payment awards is amortized over the requisite service period, which is defined as the period during which an employee is required to provide service in exchange for an award. The Company generally uses a straight-line attribution method for all grants that include only a service condition. Awards with both performance and service conditions are expensed over the service period for each separately vesting tranche. Share-based compensation expense recognized during the period includes actual expense on vested awards and expense associated with unvested awards. Forfeitures are recorded as incurred. The determination of fair value of restricted and certain performance stock awards and units is based on the value of the Company’s stock on the date of grant with performance awards and units adjusted for the actual outcome of the underlying performance condition. For more complex performance awards including units with market-based performance conditions the Company employs a Monte Carlo simulation valuation method to calculate the fair value of the awards based on the most likely outcome. Under the Monte Carlo simulation, a number of variables and assumptions are used including, but not limited to: the expected stock price volatility over the term of the award, a correlation coefficient, the risk-free rate, and dividend yield.
Research and Development Costs	Research and Development Costs Research and development costs are expensed as incurred.
Loss Contingencies	Loss Contingencies The Company records its best estimates of a loss contingency when it is considered probable and the amount can be reasonably estimated. When a range of loss can be reasonably estimated with no best estimate in the range, the minimum estimated liability related to the claim is recorded. As additional information becomes available, the Company assesses the potential liability related to the potential pending loss contingency and revises its estimates. Material loss contingencies are disclosed if there is at least a reasonable possibility that a loss or an additional loss may have been incurred and include estimated legal costs.
Restructuring	Restructuring A liability for post-employment benefits is recorded when payment is probable and the amount is reasonably estimable. Contract exit costs include contract termination fees and future contractual termination commitments for lease payments. A liability for contract exit costs is recognized in the period in which the Company terminates the contract or on the cease-use date for leased facilities.
Foreign Currencies	Foreign Currencies The Company’s functional currency is the United States dollar. Gains and losses related to foreign currency transactions and conversion of foreign denominated cash balances are included in current results.
Income Tax	Income Taxes The Company uses the asset and liability method of accounting for income taxes. Under the asset and liability method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. This method also requires the recognition of future tax benefits such as net operating loss carry forwards, to the extent that realization of such benefits is more likely than not. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The carrying value of the Company’s net deferred tax assets assumes the Company will be able to generate sufficient future taxable income in certain tax jurisdictions, based on estimates and assumptions. If these estimates and related assumptions change in the future, the Company may be required to record additional valuation allowances against its deferred tax assets resulting in additional income tax expense in its Consolidated Statement of Operations. Management evaluates the realizability of the deferred tax assets and assesses the adequacy of the valuation allowance quarterly. Likewise, in the event the Company were to determine that it would be able to realize its deferred tax assets in the future in excess of their net recorded amount, an adjustment to the deferred tax assets would increase income in the period such determination was made. The determination of recording or releasing tax valuation allowances is made, in part, pursuant to an assessment performed by management regarding the likelihood that the Company will generate future taxable income against which benefits of its deferred tax assets may or may not be realized. This assessment requires management to exercise judgment and make estimates with respect to its ability to generate revenues, gross profits, operating income, and taxable income in future periods. Amongst other factors, management must make assumptions regarding overall business and semiconductor industry conditions, operating efficiencies, the Company’s ability to develop products to its customers’ specifications, technological change, the competitive environment, and changes in regulatory requirements which may impact its ability to generate taxable income and, in turn, realize the value of its deferred tax assets. The calculation of the Company’s tax liabilities includes addressing uncertainties in the application of complex tax regulations and is based on the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The Company recognizes liabilities for anticipated tax audit issues in the United States and other tax jurisdictions based on its recognition threshold and measurement attribute of whether it is more likely than not that the positions the Company has taken in tax filings will be sustained upon tax audit, and the extent to which, additional taxes would be due. If payment of these amounts ultimately proves to be unnecessary, the reversal of the liabilities would result in tax benefits being recognized in the period in which it is determined the liabilities are no longer necessary. If the estimate of tax liabilities proves to be less than the ultimate assessment, a further charge to expense would result. The Company recognizes any interest or penalties, if incurred, on any unrecognized tax liabilities or benefits as a component of income tax expense.
Earnings Per Share, Policy [Policy Text Block]	Earnings Per ShareBasic earnings per share are computed using the weighted average number of common shares outstanding during the period. Diluted earnings per share incorporate the potentially dilutive incremental shares issuable upon the assumed exercise of stock options, the assumed vesting of outstanding restricted stock units, and the assumed issuance of common stock under the stock purchase plan using the treasury share method. Shares issuable upon the vesting of performance stock awards are likewise included in the calculation of diluted earnings per share as of the date the condition(s) have been satisfied.
Recently Adopted Accounting Pronouncements
Lessee, Leases	Leases The Company determines if an arrangement is a lease at its inception. Right-of-use (“ROU”) assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The Company uses its estimated incremental borrowing rate in determining the present value of lease payments considering the term of the lease, which is derived from information available at the lease commencement date. The lease term includes renewal options when it is reasonably certain that the option will be exercised and excludes termination options. To the extent that the Company’s agreements have variable lease payments, the Company includes variable lease payments that depend on an index or a rate and excludes those that depend on facts or circumstances occurring after the commencement date, other than the passage of time. Lease expense for these leases is recognized on a straight-line basis over the lease term. The Company has elected not to recognize ROU assets and lease liabilities that arise from short-term (12 months or less) leases for any class of underlying asset. Operating leases are included in operating lease ROU assets, other current liabilities, and long-term operating lease liabilities in the Company's condensed consolidated balance sheet.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Guidance In December 2019, the Financial Accounting Standards Board (the “FASB”) issued an accounting standards update that simplifies the accounting for income taxes by eliminating certain exceptions related to the approach for intraperiod tax allocation and modified the methodology for calculating income taxes in an interim period. The guidance also clarifies and simplifies other aspects of the accounting for income taxes. The guidance is effective for the Company beginning in the first quarter of fiscal 2022. The new standard is not expected to have a material effect on the Company’s consolidated financial statements.
Stockholders' Equity, Policy	Treasury Stock The Company accounts for treasury stock using the cost method. The Company accounts for the retirement of treasury stock by charging any excess of cost over par value as a deduction from additional paid-in capital and the remaining excess as a deduction to retained earnings on the consolidated balance sheets. Retired treasury shares revert to the status of authorized but unissued shares.

Business Combinations (Tables)

12 Months Ended

Oct. 01, 2021

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The allocation of the purchase price is based on the estimated fair values of the assets acquired and liabilities assumed by major class related to the Asset Purchase and are reflected, as of the acquisition date, in the accompanying financial statements as follows (in millions):


	As of
Purchase Price	July 26, 2021
Cash consideration	$	2,750.0
Fair value of partially vested equity awards	4.1
Total purchase consideration	$	2,754.1

Allocation
Inventory, including step up	$	56.3
Property, plant, and equipment	4.4
Other long-term assets	0.7
Intangible assets	1,708.3
Goodwill	986.2
Liabilities assumed	(1.8)
Estimated fair value of net assets acquired	$	2,754.1

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination


	As of
Intangible Assets	July 26, 2021
Developed technology	$	960.1
Backlog	154.6
Customer relationships and tradename	2.5
Total identified finite-lived intangible assets	1,117.2
In-process research and development (“IPR&D”)	591.1
Total identified intangible assets	$	1,708.3

Business Acquisition, Pro Forma Information

These unaudited results are presented for informational purposes only and are not necessarily indicative of future operations (in millions,):


	Fiscal Years Ended
(unaudited)	October 1, 2021		October 2, 2020
Revenue	$	5,440.0	$	3,735.4
Net income	1,514.3		637.8

Fair Value (Tables)

12 Months Ended

Oct. 01, 2021

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis

Assets and liabilities recorded at fair value on a recurring basis consisted of the following (in millions):


	As of October 1, 2021								As of October 2, 2020
			Fair Value Measurements								Fair Value Measurements
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets
Cash and cash equivalents*	$	882.9	$	882.9	$	—	$	—	$	566.7	$	561.2	$	5.5	$	—
U.S. Treasury and government securities	13.6		2.6		11.0		—		134.4		43.2		91.2		—
Corporate bonds and notes	117.0		—		117.0		—		276.8		—		276.8		—
Municipal bonds	13.7		—		13.7		—		2.1		—		2.1		—
Total	$	1,027.2	$	885.5	$	141.7	$	—	$	980.0	$	604.4	$	375.6	$	—

* Cash equivalents included in Levels 1 and 2 consist of money market funds and corporate bonds and notes, commercial paper, and agency securities purchased with less than ninety days until maturity.

Inventory (Tables)

12 Months Ended

Oct. 01, 2021

Inventory, Net [Abstract]

Schedule Of Inventories

Inventory consists of the following (in millions):


	As of
	October 1, 2021		October 2, 2020
Raw materials	$	62.2	$	37.8
Work-in-process	595.9		566.4
Finished goods	224.4		198.9
Finished goods held on consignment by customers	2.5		2.9
Total inventory	$	885.0	$	806.0

Property, Plant And Equipment (Tables)

12 Months Ended

Oct. 01, 2021

Property, Plant and Equipment [Abstract]

Schedule Of Property, Plant And Equipment

Property, plant, and equipment, net consists of the following (in millions):


	As of
	October 1, 2021		October 2, 2020
Land and improvements	$	11.9	$	11.8
Buildings and improvements	470.7		424.8
Furniture and fixtures	60.2		46.5
Machinery and equipment	2,990.2		2,556.1
Construction in progress	177.0		140.7
Total property, plant, and equipment, gross	3,710.0		3,179.9
Accumulated depreciation	(2,208.4)		(1,930.4)
Total property, plant, and equipment, net	$	1,501.6	$	1,249.5

Marketable Securities (Tables)

12 Months Ended

Oct. 01, 2021

Investments, Debt and Equity Securities [Abstract]

Debt Securities, Available-for-sale

The Company's portfolio of available-for-sale marketable securities consists of the following (in millions):


	Current				Noncurrent
Available-for-sale:	October 1, 2021		October 2, 2020		October 1, 2021		October 2, 2020
U.S. Treasury and government	$	7.6	$	129.4	$	6.0	$	5.0
Corporate bonds and notes	117.0		276.8		—		—
Municipal bonds	12.6		1.9		1.1		0.2
Total	$	137.2	$	408.1	$	7.1	$	5.2

Goodwill and Intangible Assets (Tables)

12 Months Ended

Oct. 01, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule Of Intangible Assets Excluding Goodwill

Intangible assets consist of the following (in millions):


		As of						As of
	Weighted average amortization period (years)	October 1, 2021						October 2, 2020
		Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Customer relationships and backlog	2.5	$	174.3	$	(44.0)	$	130.3	$	18.2	$	(15.8)	$	2.4
Developed technology and other	4.2	1,036.9		(88.0)		948.9		101.0		(81.6)		19.4
Trademarks	3.0	1.0		(1.0)		—		1.6		(1.5)		0.1
Technology licenses	2.6	48.4		(23.9)		24.5		$	26.3	(14.2)		12.1
IPR&D		594.9		—		594.9		$	19.5	—		19.5
Total intangible assets		$	1,855.5	$	(156.9)	$	1,698.6	$	166.6	$	(113.1)	$	53.5

Schedule of Expected Amortization Expense

Annual amortization expense for the next five fiscal years related to definite-lived intangible assets, excluding IPR&D, is expected to be as follows (in millions):


	2022		2023		2024		2025		2026		Thereafter
Amortization expense, cost of goods sold	$	156.1	$	144.0	$	129.5	$	115.1	$	100.8	$	298.8
Amortization expense, operating expense	$	110.3	$	40.3	$	5.4	$	2.3	$	1.1	$	—
Total amortization expense	$	266.4	$	184.3	$	134.9	$	117.4	$	101.9	$	298.8

Income Taxes (Tables)

12 Months Ended

Oct. 01, 2021

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Income before income taxes consists of the following components (in millions):


	Fiscal Years Ended
	October 1, 2021		October 2, 2020		September 27, 2019
United States	$	804.7	$	435.9	$	427.2
Foreign	794.0		455.8		533.8
Income before income taxes	$	1,598.7	$	891.7	$	961.0

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes consists of the following components (in millions):


	Fiscal Years Ended
	October 1, 2021		October 2, 2020		September 27, 2019
Current tax expense (benefit):
Federal	$	87.5	$	44.4	$	85.3
State	—		—		(0.1)
Foreign	70.7		49.5		23.5
	158.2		93.9		108.7
Deferred tax expense (benefit):
Federal	(45.8)		(6.8)		(0.4)
State	(0.1)		—		—
Foreign	(11.9)		(10.2)		(0.9)
	(57.8)		(17.0)		(1.3)

Provision for income taxes	$	100.4	$	76.9	$	107.4

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of income tax expense as computed at the United States federal statutory income tax rate to the provision for income tax expense is as follows (in millions):


	Fiscal Years Ended
	October 1, 2021		October 2, 2020		September 27, 2019
Tax expense at United States statutory rate	$	335.7	$	187.3	$	201.8
Foreign tax rate difference	(155.2)		(86.6)		(115.3)
Tax on deemed repatriation	—		0.2		8.1
Effect of stock compensation	(13.5)		(10.3)		(1.6)
Research and development credits	(27.0)		(23.0)		(25.7)
Change in tax reserve	(51.5)		9.6		18.4
Global Intangible Low-Taxed Income	69.0		35.9		54.3
Foreign Derived Intangible Income	(79.7)		(41.2)		(41.5)
Other, net	22.6		5.0		9.0
Provision for income taxes	$	100.4	$	76.9	$	107.4

Schedule of Deferred Tax Assets and Liabilities

Deferred income tax assets and liabilities consist of the tax effects of temporary differences related to the following (in millions):


	Fiscal Years Ended
	October 1, 2021		October 2, 2020
Deferred tax assets:
Inventory	$	15.8	$	12.1
Accrued compensation and benefits	12.7		10.1
Product returns, allowances, and warranty	0.9		0.4
Share-based and other deferred compensation	31.8		25.9
Net operating loss carry forwards	7.1		7.4
Non-United States tax credits	17.0		16.5
State tax credits	126.9		115.5
Operating leases	45.4		43.4
Prepayments	42.1		—
Property, plant, and equipment	35.8		24.3
Other, net	15.0		5.9
Deferred tax assets	350.5		261.5
Less valuation allowance	(150.0)		(137.4)
Net deferred tax assets	200.5		124.1
Deferred tax liabilities:
Property, plant, and equipment	(38.6)		(26.4)
Intangible assets	(5.3)		(7.6)
Operating leases	(40.4)		(41.5)
Other, net	(15.6)		(7.5)
Net deferred tax liabilities	(99.9)		(83.0)
Total net deferred tax assets	$	100.6	$	41.1

The deferred tax assets and liabilities based on tax jurisdictions are presented on our Consolidated Balance Sheets as follows:


	As of
	October 1, 2021		October 2, 2020
Deferred tax assets	$	119.5	$	55.3
Deferred tax liabilities	(18.9)		(14.2)
Net deferred tax asset	$	100.6	$	41.1

Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (in millions):


	Unrecognized tax benefits
Balance at October 2, 2020	$	117.6
Decreases based on positions related to prior years	(28.6)
Increases based on positions related to current year	5.4
Decreases relating to settlements with taxing authorities	(13.6)
Decreases relating to lapses of applicable statutes of limitations	(25.5)
Balance at October 1, 2021	$	55.3

Stockholders' Equity (Tables)

12 Months Ended

Oct. 01, 2021

Stockholders' Equity Note [Abstract]

Dividends Declared

The dividends charged to retained earnings in fiscal 2021 and 2020 were as follows (in millions except per share data):


	Fiscal Years Ended
	October 1, 2021				October 2, 2020
	Per Share		Total		Per Share		Total
First quarter	$	0.50	$	83.0	$	0.44	$	75.1
Second quarter	0.50		82.6		0.44		74.9
Third quarter	0.50		82.5		0.44		73.5
Fourth quarter	0.56		92.5		0.50		83.5
	$	2.06	$	340.6	$	1.82	$	307.0

Schedule of Share-based Compensation, Stock Options, Activity

The following table represents a summary of the Company’s stock options:


	Shares (in millions)	Weighted average exercise price		Weighted average remaining contractual life (in years)	Aggregate intrinsic value (in millions)
Balance outstanding at October 2, 2020	0.4	$	70.28
Granted	—	$	143.87
Exercised	(0.2)	$	66.35
Canceled/forfeited	—	$	31.88
Balance outstanding at October 1, 2021	0.2	$	74.68	1.8	$	16.7

Exercisable at October 1, 2021	0.2	$	74.12	1.7	$	16.2

Schedule of Other Share-based Compensation, Activity

The following table represents a summary of the Company’s restricted and performance awards and units:


	Shares (in millions)	Weighted average grant date fair value
Non-vested awards outstanding at October 2, 2020	2.9	$	94.77
Granted (1)	1.5	$	148.96
Vested	(1.1)	$	102.94
Canceled/forfeited	(0.6)	$	105.34
Non-vested awards outstanding at October 1, 2021	2.7	$	118.90
(1) includes performance stock awards granted and earned assuming target performance under the underlying performance metrics

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The following table summarizes pre-tax share-based compensation expense by financial statement line and related tax benefit (in millions):


	Fiscal Years Ended
	October 1, 2021		October 2, 2020		September 27, 2019
Cost of goods sold	$	28.9	$	23.2	$	13.0
Research and development	85.7		68.7		41.6
Selling, general and administrative	77.3		64.7		25.5
Total share-based compensation expense	$	191.9	$	156.6	$	80.1

Share-based compensation tax benefit	$	13.5	$	10.3	$	1.6
Capitalized share-based compensation expense at period end	$	9.8	$	10.6	$	4.7

Schedule of Unrecognized Compensation Cost, Nonvested Awards


	Unrecognized compensation cost for unvested awards (in millions)		Weighted average remaining recognition period (in years)
Awards	$	202.0	2.9
Options	$	0.1	1.3

Schedule of Share-based Payment Awards, Performance Shares, Valuation Assumptions Used

he fair value of these performance stock unit awards was estimated on the date of the grant using a Monte Carlo simulation with the following weighted average assumptions:


	Fiscal Year Ended
	October 1, 2021		October 2, 2020		September 27, 2019
Volatility of common stock	43.20	%	32.22	%	32.65	%
Average volatility of peer companies	45.96	%	33.96	%	37.07	%
Average correlation coefficient of peer companies	0.65		0.61		0.47
Risk-free interest rate	0.25	%	1.62	%	2.98	%
Dividend yield	1.39	%	1.78	%	1.84	%

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of each stock option is estimated on the date of the grant using the Black-Scholes option pricing model with the following weighted average assumptions:


	Fiscal Years Ended
	October 1, 2021		October 2, 2020		September 27, 2019
Expected volatility	39.65	%	34.26	%	34.47	%
Risk-free interest rate	0.13	%	1.65	%	2.76	%
Dividend yield	1.39	%	1.78	%	1.84	%
Expected option life (in years)	4.0		4.0		4.0

Leases, Codification Topic 842 (Tables)

12 Months Ended

Oct. 01, 2021

Leases [Abstract]

Lease, Cost

Supplemental cash information and non-cash activities related to operating leases are as follows (in millions):


	Fiscal Year Ended
	October 1, 2021		October 2, 2020
Operating cash outflows from operating leases	$	32.5	25.4
Operating lease assets obtained in exchange for new lease liabilities	$	24.8	31.0

Lessee, Operating Lease, Liability, Maturity

Maturities of lease liabilities under operating leases by fiscal year are as follows (in millions):


	As of
	October 1, 2021
2022	31.9
2023	29.4
2024	24.4
2025	22.3
2026	21.7
Thereafter	69.1
Total lease payments	198.8
Less: imputed interest	(21.3)
Present value of lease liabilities	177.5
Less: current portion (included in other current liabilities)	(33.0)
Total	$	144.5

Lease, Cost, weighted-average remaining lease term, weighted-average discount rate

Weighted-average remaining lease term and discount rate related to operating leases are as follows:


	As of
	October 1, 2021		October 2, 2020
Weighted-average remaining lease term (years)	7.5		8.2
Weighted-average discount rate	3.1	%	3.3	%

Earnings Per Share (Tables)

12 Months Ended

Oct. 01, 2021

Earnings Per Share [Abstract]

Schedule Of Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in millions, except per share amounts):


	Fiscal Years Ended
	October 1, 2021		October 2, 2020		September 27, 2019
Net income	$	1,498.3	$	814.8	$	853.6

Weighted average shares outstanding – basic	165.2		168.5		173.5
Dilutive effect of equity-based awards	1.8		1.4		1.0
Weighted average shares outstanding – diluted	167.0		169.9		174.5

Net income per share – basic	$	9.07	$	4.84	$	4.92
Net income per share – diluted	$	8.97	$	4.80	$	4.89

Anti-dilutive common stock equivalents	—		0.1		1.4

Segment Information (Tables)

12 Months Ended

Oct. 01, 2021

Segment Reporting [Abstract]

Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area

Net revenue by geographic area is as follows (in millions):


	Fiscal Years Ended
	October 1, 2021		October 2, 2020		September 27, 2019
United States	$	3,228.1	$	2,012.8	$	1,860.4
China	994.2		700.7		718.7
Taiwan	404.2		240.4		271.1
South Korea	264.5		254.6		365.5
Europe, Middle East, and Africa	180.1		122.9		134.9
Other Asia-Pacific	38.0		24.3		26.2
Total	$	5,109.1	$	3,355.7	$	3,376.8

Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country

Net property, plant, and equipment balances, based on the physical locations within the indicated geographic areas are as follows (in millions):


	As of
	October 1, 2021		October 2, 2020
Japan	$	598.9	$	507.0
Mexico	362.9		364.9
Singapore	340.0		237.4
United States	183.5		124.8
Rest of world	16.3		15.4
	$	1,501.6	$	1,249.5

Disaggregation of Revenue

Net revenue by sales channel is as follows (in millions):


	Fiscal Years Ended
	October 1, 2021		October 2, 2020		September 27, 2019
Distributors	$	4,539.7	$	2,599.8	$	2,330.9
Direct customers	569.4		755.9		1,045.9
Total	$	5,109.1	$	3,355.7	$	3,376.8

Debt (Tables)

12 Months Ended

Oct. 01, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt consists of the following (in millions, except percentages):


			As of
	Effective Interest Rate		October 1, 2021		October 2, 2020
0.90% Senior Notes due 2023	1.15	%	$	500.0	$	—
1.80% Senior Notes due 2026	1.97	%	500.0		—
3.00% Senior Notes due 2031	3.13	%	500.0		—
1.38% Term Loans due 2024	1.50	%	750.0		—
Unamortized debt discount and issuance costs			(14.4)		—
Total debt			$	2,235.6	$	—

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The estimated fair value of debt consists of the following (in millions):


	As of
	October 1, 2021		October 2, 2020
0.90% Senior Notes due 2023	$	501.0	$	—
1.80% Senior Notes due 2026	507.5		—
3.00% Senior Notes due 2031	514.6		—
Total debt under Senior Notes	$	1,523.1	$	—

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Other Liabilities (Tables)

12 Months Ended

Oct. 01, 2021

Condensed Financial Information Disclosure [Abstract]

Other Current Liabilities

Other current liabilities consist of the following (in millions):


	As of
	October 1, 2021		October 2, 2020
Accrued taxes	$	88.6	$	31.2
Operating lease liability	33.0		28.2
Accrued customer liabilities	119.7		20.3
Other	45.9		28.3
Total other current liabilities	$	287.2	$	108.0

Schedule of Other Nonoperating Income (Expense)

Other income (expense), net consists of the following (in millions):


	Fiscal Years Ended
	October 1, 2021		October 2, 2020		September 27, 2019
Interest income	$	1.2	$	9.6	$	18.8
Net gains (losses) on marketable securities	0.1		0.1		—
Other income	4.2		6.8		5.5
Other expense	(6.1)		(16.6)		(15.3)
Total other income (expense), net	$	(0.6)	$	(0.1)	$	9.0

Summary of Significant Accounting Policies (Details)	12 Months Ended
Summary of Significant Accounting Policies (Details)	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Accounting Policies [Line Items]
Weeks in fiscal year	371 days	364 days	364 days

Business Combinations (Details) - USD ($) $ in Thousands		12 Months Ended
Business Combinations (Details) - USD ($) $ in Thousands	Jul. 26, 2021	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Business Combinations [Abstract]
Business Combination, Acquisition Related Costs		$ 40,700
Payments to Acquire Businesses, Gross		2,751,000	$ 0	$ 0
Goodwill		2,176,700	1,189,800
Acquired Finite-Lived Intangible Assets [Line Items]
Goodwill		2,176,700	1,189,800
Payments to Acquire Businesses, Gross		2,751,000	0	$ 0
Business Acquisition, Pro Forma Revenue		5,440,000	3,735,400
Business Acquisition, Pro Forma Net Income (Loss)		$ 1,514,300	$ 637,800
Silicon Labs Industrial and Automotive Business
Business Combinations [Abstract]
Payments to Acquire Businesses, Gross	$ 2,750,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	4,100
Consideration transferred	2,754,100
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	56,300
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	4,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	700
Identifiable intangible assets	1,708,300
Goodwill	986,200
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	(1,800)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	2,754,100
Acquired Finite-Lived Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	1,117,200
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets	591,100
Identifiable intangible assets	1,708,300
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	56,300
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	4,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	700
Goodwill	986,200
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	1,800
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	2,754,100
Payments to Acquire Businesses, Gross	2,750,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	4,100
Consideration transferred	$ 2,754,100
Developed Technology and Other [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life	4 years
Developed Technology and Other [Member] \| Silicon Labs Industrial and Automotive Business
Acquired Finite-Lived Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 960,100
Order or Production Backlog
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life	2 years
Order or Production Backlog \| Silicon Labs Industrial and Automotive Business
Acquired Finite-Lived Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 154,600
Other Intangible Assets \| Silicon Labs Industrial and Automotive Business
Acquired Finite-Lived Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 2,500

Fair Value (Narrative) (Details) $ in Thousands	12 Months Ended
Fair Value (Narrative) (Details) $ in Thousands	Oct. 01, 2021 USD ($)
Fair Value Disclosures [Abstract]
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount	$ 0
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	0
Fair Value, Liabilities, Level 1 to Level 2 Transfers, Amount	0
Fair Value, Liabilities, Level 2 to Level 1 Transfers, Amount	0
Increases to Level 3 liabilities	0
Decreases of Level 3 liabilities	$ 0

Fair Value (Schedule Of Financial Instruments Measured At Fair Value On Recurring Basis) (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Decreases of Level 3 liabilities	$ 0
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	1,027,200	$ 980,000
Cash and Cash Equivalents, Fair Value Disclosure	882,900	566,700
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	885,500	604,400
Cash and Cash Equivalents, Fair Value Disclosure	882,900	561,200
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	141,700	375,600
Cash and Cash Equivalents, Fair Value Disclosure	0	5,500
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	0	0
Cash and Cash Equivalents, Fair Value Disclosure	0	0
US Treasury and Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	13,600	134,400
US Treasury and Government [Member] \| Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	2,600	43,200
US Treasury and Government [Member] \| Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	11,000	91,200
US Treasury and Government [Member] \| Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	0	0
Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	117,000	276,800
Corporate Debt Securities [Member] \| Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	0	0
Corporate Debt Securities [Member] \| Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	117,000	276,800
Corporate Debt Securities [Member] \| Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	0	0
US States and Political Subdivisions Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	13,700
US States and Political Subdivisions Debt Securities [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		2,100
US States and Political Subdivisions Debt Securities [Member] \| Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	0	0
US States and Political Subdivisions Debt Securities [Member] \| Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	13,700	2,100
US States and Political Subdivisions Debt Securities [Member] \| Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	$ 0	$ 0

Fair Value (Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation) (Details) $ in Thousands	12 Months Ended
	Oct. 01, 2021 USD ($)
Fair Value, Assets [Roll Forward]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	$ 0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	0
Increases to Level 3 liabilities	0
Decreases of Level 3 liabilities	$ 0

Fair Value (Fair Value Liabilities Measured on Recurring Basis Unobservable Input Reconciliation) (Details) $ in Thousands	12 Months Ended
	Oct. 01, 2021 USD ($)
Fair Value, Liabilities [Roll Forward]
Increases to Level 3 liabilities	$ 0

Inventory (Schedule Of Inventories) (Details) - USD ($) $ in Millions	Oct. 01, 2021	Oct. 02, 2020
Inventory, Net [Abstract]
Raw materials	$ 62.2	$ 37.8
Work-in-process	595.9	566.4
Finished goods	224.4	198.9
Finished goods held on consignment by customers	2.5	2.9
Total inventories	$ 885.0	$ 806.0

Property, Plant And Equipment (Schedule Of Property, Plant And Equipment) (Details) - USD ($) $ in Millions	Oct. 01, 2021	Oct. 02, 2020
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 3,710.0	$ 3,179.9
Accumulated depreciation and amortization	(2,208.4)	(1,930.4)
Total property, plant and equipment, net	1,501.6	1,249.5
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	11.9	11.8
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	470.7	424.8
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	60.2	46.5
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	2,990.2	2,556.1
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 177.0	$ 140.7

Marketable Securities (Details) - USD ($) $ in Millions	12 Months Ended
Marketable Securities (Details) - USD ($) $ in Millions	Oct. 01, 2021	Oct. 02, 2020
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Noncurrent, Maximum Contractual Maturity	2 years
Debt Securities, Available-for-sale, Current	$ 137.2	$ 408.1
Debt Securities, Available-for-sale, Noncurrent	7.1	5.2
US Treasury and Government [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Current	7.6	129.4
Debt Securities, Available-for-sale, Noncurrent	6.0	5.0
Corporate Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Current	117.0	276.8
Debt Securities, Available-for-sale, Noncurrent	0.0	0.0
US States and Political Subdivisions Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Current	12.6	1.9
Debt Securities, Available-for-sale, Noncurrent	$ 1.1	$ 0.2

Marketable Securities Schedule of Available for sale securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Gross Unrealized Gain	$ 0
US Treasury and Government [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Gross Unrealized Gain		$ 300
Corporate Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Gross Unrealized Gain		$ 200

Goodwill and Intangible Assets (Changes in Goodwill) (Details) $ in Thousands	12 Months Ended
	Oct. 01, 2021 USD ($)
Goodwill [Roll Forward]
Goodwill at beginning of the period	$ 1,189,800
Goodwill at end of the period	2,176,700
Goodwill, Period Increase (Decrease)	$ 986,900

Goodwill and Intangible Assets (Schedule of Intangible Assets Excluding Goodwill) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Intangible Assets Excluding Goodwill [Line Items]
Goodwill	$ 2,176.7	$ 1,189.8
Gross carrying amount	1,855.5	166.6
Accumulated amortization	(156.9)	(113.1)
Net carrying amount	$ 1,698.6	53.5
Customer Relationships [Member]
Intangible Assets Excluding Goodwill [Line Items]
Weighted average amortization period (years)	2 years 6 months
Gross carrying amount	$ 174.3	18.2
Accumulated amortization	(44.0)	(15.8)
Net carrying amount	$ 130.3	2.4
Developed Technology and Other [Member]
Intangible Assets Excluding Goodwill [Line Items]
Weighted average amortization period (years)	4 years 2 months 12 days
Gross carrying amount	$ 1,036.9	101.0
Accumulated amortization	(88.0)	(81.6)
Net carrying amount	948.9	19.4
Trademarks [Member]
Intangible Assets Excluding Goodwill [Line Items]
Gross carrying amount	1.0	1.6
Accumulated amortization	(1.0)	(1.5)
Net carrying amount	$ 0.0	0.1
Licensing Agreements [Member]
Intangible Assets Excluding Goodwill [Line Items]
Weighted average amortization period (years)	2 years 7 months 6 days
Gross carrying amount	$ 48.4	26.3
Accumulated amortization	(23.9)	(14.2)
Net carrying amount	24.5	12.1
In Process Research and Development [Member]
Intangible Assets Excluding Goodwill [Line Items]
Gross carrying amount	594.9	19.5
Accumulated amortization	0.0	0.0
Net carrying amount	$ 594.9	$ 19.5
Trade Names [Member]
Intangible Assets Excluding Goodwill [Line Items]
Weighted average amortization period (years)	3 years

Goodwill and Intangible Assets (Schedule of Future Amortization Expense) (Details) $ in Millions	Oct. 01, 2021 USD ($)
Finite-Lived Intangible Assets, Future Amortization Expense [Line Items]
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	$ 266.4
Finite-Lived Intangible Assets, Amortization Expense, Year Two	184.3
Finite-Lived Intangible Assets, Amortization Expense, Year Three	134.9
Finite-Lived Intangible Assets, Amortization Expense, Year Four	117.4
Finite-Lived Intangible Assets, Amortization Expense, Year Five	101.9
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	298.8
Operating Expense [Member]
Finite-Lived Intangible Assets, Future Amortization Expense [Line Items]
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	110.3
Finite-Lived Intangible Assets, Amortization Expense, Year Two	40.3
Finite-Lived Intangible Assets, Amortization Expense, Year Three	5.4
Finite-Lived Intangible Assets, Amortization Expense, Year Four	2.3
Finite-Lived Intangible Assets, Amortization Expense, Year Five	1.1
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	0.0
Cost of Sales [Member]
Finite-Lived Intangible Assets, Future Amortization Expense [Line Items]
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	156.1
Finite-Lived Intangible Assets, Amortization Expense, Year Two	144.0
Finite-Lived Intangible Assets, Amortization Expense, Year Three	129.5
Finite-Lived Intangible Assets, Amortization Expense, Year Four	115.1
Finite-Lived Intangible Assets, Amortization Expense, Year Five	100.8
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	$ 298.8

Income Taxes (Income before Income Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Income Tax Disclosure [Abstract]
United States	$ 804.7	$ 435.9	$ 427.2
Foreign	794.0	455.8	533.8
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$ 1,598.7	$ 891.7	$ 961.0

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=68072869&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
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+ Details

Income Taxes (Income Tax Provision) (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Current tax expense (benefit):
Federal	$ 87,500	$ 44,400	$ 85,300
State	0	0	(100)
Foreign	70,700	49,500	23,500
Current Income Tax Expense	158,200	93,900	108,700
Deferred tax expense (benefit):
Federal	(45,800)	(6,800)	(400)
Deferred State and Local Income Tax Expense (Benefit)	(100)	0	0
Foreign	(11,900)	(10,200)	(900)
Deferred Income Tax Expense	(57,800)	(17,000)	(1,300)
Provision for income taxes	$ 100,400	$ 76,900	$ 107,400

Income Taxes (Income Tax Expense Reconciliation) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Income Tax Disclosure [Abstract]
Tax expense at United States statutory rate	$ 335.7	$ 187.3	$ 201.8
Foreign tax rate difference	(155.2)	(86.6)	(115.3)
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount	0.0	0.2	8.1
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Compensation Cost, Amount	(13.5)	(10.3)	(1.6)
Research and development credits	(27.0)	(23.0)	(25.7)
Change in tax reserve	(51.5)	9.6	18.4
EffectiveIncomeTaxRateReconciliationGlobalIntangibleLowTaxedIncomeAmount	69.0	35.9	54.3
EffectiveIncomeTaxRateReconciliationForeignDerivedIntangibleIncome	(79.7)	(41.2)	(41.5)
Other, net	22.6	5.0	9.0
Provision for income taxes	$ 100.4	$ 76.9	$ 107.4

Income Taxes (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Income Taxes [Line Items]
United States tax rate	21.00%	21.00%	24.60%
Foreign tax rate difference	$ (155,200)	$ (86,600)	$ (115,300)
Income tax holiday	September 30, 2030
Impact of tax holiday	$ 99,500	$ 63,100	$ 32,800
Impact of tax holiday on diluted earnings per share (in dollars per share)	$ 0.60	$ 0.37	$ 0.19
Valuation Allowance, Amount	$ 150,000	$ 137,400
Tax benefit to recognize if valuation allowance is reversed	150,000
Future taxable income needed to utilize deferred tax assets	351,700
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	12,600	8,300
Total unrecognized tax benefits that would impact the effective tax rate	35,900
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	(11,600)	4,600	$ 6,000
Previously unrecognized tax benefits related to the expiration of the statute of limitations	25,500
Decreases relating to settlements with taxing authorities	13,600
Accrued interest or penalties related to unrecognized tax benefit	4,500	16,100
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount	0	200	8,100
EffectiveIncomeTaxRateReconciliationGlobalIntangibleLowTaxedIncomeAmount	69,000	35,900	54,300
EffectiveIncomeTaxRateReconciliationForeignDerivedIntangibleIncome	(79,700)	(41,200)	(41,500)
Provision for income taxes	100,400	$ 76,900	$ 107,400
Internal Revenue Service (IRS)
Income Taxes [Line Items]
Provision for income taxes	(34,800)
Foreign Tax Authority [Member]
Income Taxes [Line Items]
Valuation Allowance, Amount	19,800
State and Local Jurisdiction [Member] \| General Business Tax Credit Carryforward
Income Taxes [Line Items]
Valuation Allowance, Amount	126,900
State and Local Jurisdiction [Member] \| Capital Loss Carryforward
Income Taxes [Line Items]
Valuation Allowance, Amount	$ 3,300
UNITED STATES
Income Taxes [Line Items]
Open tax year	2018
CALIFORNIA
Income Taxes [Line Items]
Open tax year	1999
CANADA
Income Taxes [Line Items]
Open tax year	2014
MEXICO
Income Taxes [Line Items]
Open tax year	2015
JAPAN
Income Taxes [Line Items]
Open tax year	2014
SINGAPORE
Income Taxes [Line Items]
Open tax year	2015

Income Taxes (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Oct. 01, 2021	Oct. 02, 2020
Deferred tax assets:
Inventory	$ 15,800	$ 12,100
Accrued compensation and benefits	12,700	10,100
Product returns, allowances and warranty	900	400
Share-based and other deferred compensation	31,800	25,900
Net operating loss carry forwards	7,100	7,400
Federal tax credits	17,000	16,500
State tax credits	126,900	115,500
Deferred Tax Assets, Property, Plant and Equipment	35,800	24,300
Other - net	15,000	5,900
Deferred tax assets	350,500	261,500
Less valuation allowance	(150,000)	(137,400)
Net deferred tax assets	200,500	124,100
Deferred tax liabilities:
Prepaid insurance	(15,600)	(7,500)
Property, plant and equipment	(38,600)	(26,400)
Intangible assets	(5,300)	(7,600)
Deferred Tax Liabilities, Net	99,900	83,000
Total deferred tax assets	100,600	41,100
Deferred Tax Liabilities, Leasing Arrangements	(40,400)	(41,500)
deferred tax asset, leasing arrangements	45,400	43,400
Deferred Tax Assets, Prepaids	42,100	0
Deferred Income Tax Assets, Net	119,500	55,300
Other Noncurrent Liabilities [Member]
Deferred tax liabilities:
Deferred Income Tax Liabilities, Net	(18,900)	(14,200)
Income Taxes [Line Items]
Deferred Income Tax Liabilities, Net	$ 18,900	$ 14,200

Income Taxes (Changes in Unrecognized Tax Benefit) (Details) $ in Millions	12 Months Ended
	Oct. 01, 2021 USD ($)
Income Tax Disclosure [Abstract]
Balance at September 30, 2016	$ 117.6
Decreases based on positions related to prior years	(28.6)
Increases based on positions related to current year	5.4
Decreases relating to settlements with taxing authorities	(13.6)
Decreases relating to lapses of applicable statues of limitations	(25.5)
Balance at September 29, 2017	$ 55.3

Stockholders' Equity (Common and Preferred Shares) (Details) - $ / shares shares in Millions	Oct. 01, 2021	Oct. 02, 2020
Stockholders' Equity Note [Abstract]
Common stock, shares authorized (in shares)	525.0	525.0
Common stock, par value (in dollars per share)	$ 0.25	$ 0.25
Common stock, shares issued (in shares)	165.3	232.3
Common stock, shares outstanding (in shares)	165.3	165.6
Preferred stock, shares authorized (in shares)	25.0	25.0

Stockholders' Equity (Share Repurchase) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Share Repurchase [Line Items]
Share repurchase program	$ 195,600	$ 647,500	$ 657,600
Share repurchase program (in shares)	(1,400)	(6,300)	(8,900)
Treasury stock, average price per share (in dollars per share)	$ (138.85)	$ (102.74)	$ (74.26)
Remaining shares available under share repurchase program	$ 2,000,000
Authorized repurchased amount	$ 2,000,000
Treasury Stock, Shares, Retired	68,500
Treasury Stock, Retired, Cost Method, Amount	$ 4,342,600

Stockholders' Equity (Dividends) (Details) - USD ($) $ / shares in Units, $ in Millions				3 Months Ended								12 Months Ended
	Dec. 14, 2021	Nov. 23, 2021	Nov. 04, 2021	Oct. 01, 2021	Jul. 02, 2021	Apr. 02, 2021	Jan. 01, 2021	Oct. 02, 2020	Jun. 26, 2020	Mar. 27, 2020	Dec. 27, 2019	Oct. 01, 2021	Oct. 02, 2020
Subsequent Event [Line Items]
Cash dividends declared and paid per share (in dollars per share)				$ 0.56	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.44	$ 0.44	$ 0.44	$ 2.06	$ 1.82
Cash dividends declared and paid				$ 92.5	$ 82.5	$ 82.6	$ 83.0	$ 83.5	$ 73.5	$ 74.9	$ 75.1	$ 340.6	$ 307.0
Dividend Declared [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends payable, date declared			Nov. 04, 2021
Cash dividends declared and paid per share (in dollars per share)			$ 0.56
Dividends payable, date to be paid	Dec. 14, 2021
Dividends payable, date of record		Nov. 23, 2021

Stockholders' Equity (Employee Stock Benefit Plans) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	81,800
Options outstanding (in shares)	200	400
Shares available for grant (in shares)	16,300
Employee Contributions To ESPP	10.00%
Weighted average grant fair value, grants in period	$ 39.63	$ 24.49	$ 21.74
Capitalized stock based compensation	$ 9.8	$ 10.6	$ 4.7
Share-based compensation	$ 191.9	$ 156.6	$ 80.1
Director Long Term Incentive Plan 2008 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	1,500
Shares available for grant (in shares)	600
Stock Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	24,500
Options outstanding (in shares)	200
Shares available for grant (in shares)	14,000
Equity incentive plan performance shares maximum vesting period	3 years
Employee Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	11,600
ESPP shares issued (in shares)	200	300	300
Shares available for grant (in shares)	1,600
Percent of market price	85.00%
Share-based compensation	$ 8.7	$ 6.6	$ 5.8
Unrecognized Compensation Cost for unvested awards	$ 3.1
Weighted average remaining recognition period (in years)	4 months
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost for unvested awards	$ 202.0
Weighted average remaining recognition period (in years)	2 years 10 months 24 days
Restricted Stock [Member] \| Director Long Term Incentive Plan 2008 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Restricted Stock [Member] \| Long Term Incentive Plan 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost for unvested awards	$ 0.1
Weighted average remaining recognition period (in years)	1 year 3 months 18 days
Stock Options [Member] \| Director Long Term Incentive Plan 2008 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual life maximum	10 years
Vesting period	4 years
Stock Options [Member] \| Long Term Incentive Plan 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual life maximum	7 years
Vesting period	4 years
Performance Shares [Member] \| Long Term Incentive Plan 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year

Stockholders' Equity (Stock Options) (Details) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Oct. 01, 2021 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Balance outstanding at October 2, 2015 (in shares) \| shares	400
Granted (in shares) \| shares	0
Exercised (in shares) \| shares	(200)
Balance outstanding at September 30, 2016 (in shares) \| shares	200
Shares exercisable (in shares) \| shares	200
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Stock options outstanding, weighted average exercise price, beginning balance \| $ / shares	$ 70.28
Granted, weighted average exercise price \| $ / shares	143.87
Exercised, weighted average exercise price \| $ / shares	66.35
Canceled/forfeited, weighted average exercise price \| $ / shares	31.88
Stock options outstanding, weighted average exercise price, ending balance \| $ / shares	74.68
Weighted average exercise price (in dollars per share) \| $ / shares	$ 74.12
Weighted average remaining contractual life, outstanding	1 year 9 months 18 days
Weighted average remaining contractual life, exercisable	1 year 8 months 12 days
Aggregate intrinsic value \| $	$ 16.7
Aggregate intrinsic value \| $	$ 16.2
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period \| shares	0
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term	2 years 2 months 12 days

Stockholders' Equity (Restricted and Performance based Awards) (Details) - $ / shares shares in Thousands	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested awards outstanding at September 30, 2016	2,900
Granted	1,500
Vested	(1,100)
Canceled/ forfeited	(600)
Non-vested awards outstanding at September 29, 2017	2,700	2,900
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Nonvested awards outstanding, weighted average exercise price, beginning balance	$ 94.77
Granted, weighted average exercise price	148.96	$ 99.68	$ 78.41
Vested, weighted average exercise price	102.94
Cancelled/forfeited, weighted average exercise price	105.34
weighted average exercise price, ending balance	$ 118.90	$ 94.77

Stockholders' Equity (Summary of Total Intrinsic Value) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 18.6	$ 44.2	$ 26.4
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested	$ 167.4	$ 100.9	$ 67.7

Stockholders' Equity (Share Based Expense Allocation) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation	$ 191.9	$ 156.6	$ 80.1
Share-based compensation tax benefit	13.5	10.3	1.6
Capitalized stock based compensation	9.8	10.6	4.7
Cost of Sales [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation	28.9	23.2	13.0
Research and Development Expense [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation	85.7	68.7	41.6
General and Administrative Expense [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation	$ 77.3	$ 64.7	$ 25.5

Stockholders' Equity (Compensation Costs Related to Unvested Awards) (Details) $ in Millions	12 Months Ended
	Oct. 01, 2021 USD ($)
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost for unvested awards	$ 0.1
Weighted average remaining recognition period (in years)	1 year 3 months 18 days
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost for unvested awards	$ 202.0
Weighted average remaining recognition period (in years)	2 years 10 months 24 days

Stockholders' Equity (Schedule Of Weighted Average Assumptions Used in Calculating Share-Based Performance Awards) (Details) - Performance Shares [Member]	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate	43.20%	32.22%	32.65%
Average volatility of peer companies	45.96%	33.96%	37.07%
Average correlation coefficient of peer group	0.65	0.61	0.47
Risk free interest rate	0.25%	1.62%	2.98%
Dividend yield	1.39%	1.78%	1.84%

Stockholders' Equity (Schedule Of Weighted Average Assumptions Used In Calculating Share-Based Compensation Option Expense) (Details) - Stock Options [Member]	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate	39.65%	34.26%	34.47%
Risk-free interest rate	0.13%	1.65%	2.76%
Dividend yield	1.39%	1.78%	1.84%
Expected option life (in years)	4 years	4 years	4 years

Leases, Codification Topic 842 (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Leases [Abstract]
Operating Lease, Expense	$ 33,900	$ 28,100	$ 18,700
Variable Lease, Cost	3,200	7,600
Operating Lease, Payments	32,500	25,400
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	24,800	$ 31,000
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	31,900
Lessee, Operating Lease, Liability, Payments, Due Year Two	29,400
Lessee, Operating Lease, Liability, Payments, Due Year Three	24,400
Lessee, Operating Lease, Liability, Payments, Due Year Four	22,300
Lessee, Operating Lease, Liability, Payments, Due Year Five	21,700
Lessee, Operating Lease, Liability, Payments, Due after Year Five	69,100
Lessee, Operating Lease, Liability, Payments, Due	198,800
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(21,300)
Operating Lease, Liability	$ 177,500
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other Accrued Liabilities, Current	Other Accrued Liabilities, Current
Operating Lease, Liability, Noncurrent	$ 144,500	$ 150,700
Operating Lease, Weighted Average Remaining Lease Term	7 years 6 months	8 years 2 months 12 days
Operating Lease, Weighted Average Discount Rate, Percent	3.10%	3.30%

Earnings Per Share (Schedule Of Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Earnings Per Share [Abstract]
Net income	$ 1,498.3	$ 814.8	$ 853.6
Weighted average shares outstanding - basic	165.2	168.5	173.5
Effect of dilutive equity based awards	1.8	1.4	1.0
Weighted average shares outstanding - diluted	167.0	169.9	174.5
Net income per share - basic (in dollars per share)	$ 9.07	$ 4.84	$ 4.92
Net income per share - diluted (in dollars per share)	$ 8.97	$ 4.80	$ 4.89
Anti-dilutive common stock equivalents	0.0	0.1	1.4

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Segment Information (Geographic Revenue) (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 5,109,100	$ 3,355,700	$ 3,376,800
Contract with Customer, Refund Liability	119,700	20,300
Sales Channel, Through Intermediary
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	4,539,700	2,599,800	2,330,900
Sales Channel, Directly to Consumer
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	569,400	755,900	1,045,900
Total Americas [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	3,228,100	2,012,800	1,860,400
China
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	994,200	700,700	718,700
Taiwan
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	404,200	240,400	271,100
South Korea
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	264,500	254,600	365,500
Asia
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	180,100	122,900	134,900
Europe, Middle East and Africa [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 38,000	$ 24,300	$ 26,200

Segment Information (Geographical Fixed Assets) (Details) - USD ($) $ in Millions	Oct. 01, 2021	Oct. 02, 2020
Property, Plant and Equipment, Net	$ 1,501.6	$ 1,249.5
MEXICO
Property, Plant and Equipment, Net	362.9	364.9
SINGAPORE
Property, Plant and Equipment, Net	598.9	507.0
UNITED STATES
Property, Plant and Equipment, Net	183.5	124.8
JAPAN
Property, Plant and Equipment, Net	340.0	237.4
Foreign Member Other [Member]
Property, Plant and Equipment, Net	$ 16.3	$ 15.4

Segment Information (Concentration) (Details)	12 Months Ended
Segment Information (Concentration) (Details)	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Accounts receivable from major customers percentage	70.00%		67.00%
Credit Concentration Risk [Member] \| Accounts Receivable
Concentration Risk [Line Items]
Accounts receivable from major customers percentage		70.00%
Company A [Member] \| Customer Concentration Risk \| Revenue Benchmark
Concentration Risk [Line Items]
Revenue from major customers percentage	59.00%	56.00%	51.00%

Debt (Details) - USD ($)
$ in Thousands

12 Months Ended

Oct. 01, 2021

Oct. 02, 2020

Sep. 27, 2019

Jul. 26, 2021

May 26, 2021

Debt Instrument [Line Items]

Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net

$ (14,400)

$ 0

Long-term Debt

2,235,600

AdditionalborrowingcapacityonRevolvingCreditFacility

250,000

Proceeds from Issuance of Debt

2,488,200

$ 0

Excess tax benefit from share-based compensation

250,000

Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]

Long-term Debt, Fair Value

Proceeds from Issuance of Debt

$ 2,488,200

$ 0

Debt Disclosure

17. DEBT

Long-term debt consists of the following (in millions, except percentages):


			As of
	Effective Interest Rate		October 1, 2021		October 2, 2020
0.90% Senior Notes due 2023	1.15	%	$	500.0	$	—
1.80% Senior Notes due 2026	1.97	%	500.0		—
3.00% Senior Notes due 2031	3.13	%	500.0		—
1.38% Term Loans due 2024	1.50	%	750.0		—
Unamortized debt discount and issuance costs			(14.4)		—
Total debt			$	2,235.6	$	—

Senior Notes

Term Credit Agreement

Revolving Credit Agreement

Fair Value of Debt

The estimated fair value of debt consists of the following (in millions):


	As of
	October 1, 2021		October 2, 2020
0.90% Senior Notes due 2023	$	501.0	$	—
1.80% Senior Notes due 2026	507.5		—
3.00% Senior Notes due 2031	514.6		—
Total debt under Senior Notes	$	1,523.1	$	—

Term Loan Facility

Debt Instrument [Line Items]

Long-term Debt, Gross

$ 750,000

$ 1,000,000

Debt Instrument, Interest Rate, Effective Percentage

1.50%

Debt Instrument Covenant Compliance Maximum Leverage Ratio [Line Items]

3.0

Line of Credit Facility, Maximum Borrowing Capacity

$ 1,000,000

Fair Value, Inputs, Level 2 [Member]

Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]

Long-term Debt, Fair Value

$ 1,523,100

Revolving Credit Facility

Debt Instrument [Line Items]

Long-term Debt, Gross

$ 0

Debt Instrument Covenant Compliance Maximum Leverage Ratio [Line Items]

3.0

Line of Credit Facility, Maximum Borrowing Capacity

$ 750,000

2023 Notes

Debt Instrument [Line Items]

Long-term Debt, Gross

$ 500,000

Debt Instrument, Interest Rate, Effective Percentage

1.15%

Debt Instrument, Interest Rate, Stated Percentage

0.90%

Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]

Long-term Debt, Fair Value

2023 Notes | Fair Value, Inputs, Level 2 [Member]

Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]

Long-term Debt, Fair Value

$ 501,000

2026 Notes

Debt Instrument [Line Items]

Long-term Debt, Gross

$ 500,000

Debt Instrument, Interest Rate, Effective Percentage

1.97%

Debt Instrument, Interest Rate, Stated Percentage

1.80%

Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]

Long-term Debt, Fair Value

2026 Notes | Fair Value, Inputs, Level 2 [Member]

Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]

Long-term Debt, Fair Value

$ 507,500

2031 Notes

Debt Instrument [Line Items]

Long-term Debt, Gross

$ 500,000

Debt Instrument, Interest Rate, Effective Percentage

3.13%

Debt Instrument, Interest Rate, Stated Percentage

3.00%

Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]

Long-term Debt, Fair Value

$ 0

2031 Notes | Fair Value, Inputs, Level 2 [Member]

Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]

Long-term Debt, Fair Value

$ 514,600

the Notes

Debt Instrument [Line Items]

Debt Instrument, Redemption Price, Percentage

101.00%

Other Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
Other Liabilities (Details) - USD ($) $ in Thousands	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Condensed Financial Information Disclosure [Abstract]
Accrued income taxes, current	$ 88,600	$ 31,200
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other Accrued Liabilities, Current	Other Accrued Liabilities, Current
Contract with Customer, Refund Liability	$ 119,700	$ 20,300
Other miscellaneous current liabilities [Line Items]	45,900	28,300
Other Accrued Liabilities, Current	287,200	108,000
Gain (Loss) on Sale of Other Investments	100	100	$ 0
Other Nonoperating Expense	(6,100)	(16,600)	(15,300)
Other Nonoperating Income (Expense)	(600)	(100)	9,000
Investment Income, Interest	1,200	9,600	18,800
Other Nonoperating Income	$ 4,200	$ 6,800	$ 5,500
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other Accrued Liabilities, Current	Other Accrued Liabilities, Current