0000004127-24-000007 | 10-Q | XBRL Viewer

Earnings Per Share

3 Months Ended

Dec. 29, 2023

11. EARNINGS PER SHARE

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


	Three Months Ended
	December 29, 2023		December 30, 2022
Net income	$	231.3	$	309.4

Weighted average shares outstanding – basic	159.9		159.8
Dilutive effect of equity-based awards	1.1		0.4
Weighted average shares outstanding – diluted	161.0		160.2

Net income per share – basic	$	1.45	$	1.94
Net income per share – diluted	$	1.44	$	1.93

Anti-dilutive common stock equivalents	—		1.0

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 three months ended December 29, 2023, and December 30, 2022, 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.

Stockholder's Equity (Share Repurchase) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 30, 2022	Dec. 29, 2023
Equity, Class of Treasury Stock [Line Items]
Stock repurchased	$ 166,200
Treasury Stock, Shares, Acquired	1,800
Average price of stock repurchased (in dollars per share)	$ (90.57)
Remaining amount authorized fro stock repurchase		$ 2,000,000

Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 29, 2023	Dec. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Period Increase (Decrease)	$ 0
Amortization of intangibles	$ 48,100	$ 72,000

Insider Trading Arrangements

3 Months Ended

Dec. 29, 2023

Trading Arrangements, by Individual

Material Terms of Trading Arrangement

ITEM 5. OTHER INFORMATION

Director and Officer Trading Arrangements:

A significant portion of the compensation of our directors and officers (as defined in Rule 16a-1(f) under the Exchange Act) is in the form of equity awards and, from time to time, directors and officers engage in open-market transactions with respect to the securities acquired pursuant to such equity awards or our other securities, including to satisfy tax withholding obligations when equity awards vest or are exercised, and for diversification or other personal reasons.

Transactions in our securities by directors and officers are required to be made in accordance with our insider trading policy, which requires that the transactions be in accordance with applicable U.S. federal securities laws that prohibit trading while in possession of material nonpublic information. Rule 10b5-1 under the Exchange Act provides an affirmative defense that enables directors and officers to prearrange transactions in our securities in a manner that avoids concerns about initiating transactions while in possession of material nonpublic information.

The following table describes contracts, instructions or written plans for the sale or purchase of our securities adopted by our directors and officers during the quarter covered by this report that are intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) (a “Rule 10b5-1 trading arrangement”):


Name and Title	Date of Adoption	Duration of Rule 10b5-1 Trading Arrangement	Aggregate Number of Securities to Be Purchased or Sold
Philip Carter, Vice President and Corporate Controller	December 14, 2023	Until December 1, 2024, or such earlier date upon which all transactions are completed or expire without execution	Sale of up to 1,478 shares

None of our directors or officers terminated a Rule 10b5-1 trading arrangement or adopted or terminated a non-Rule 10b5-1 trading arrangement (as defined in Item 408(c) of Regulation S-K) during the quarterly period covered by this report.

Rule 10b5-1 Arrangement Adopted

true

Non-Rule 10b5-1 Arrangement Adopted

false

Rule 10b5-1 Arrangement Terminated

false

Non-Rule 10b5-1 Arrangement Terminated

false

Liam Griffin [Member]

Trading Arrangements, by Individual

Name

Philip Carter

Title

Vice President and Corporate Controller

Adoption Date

December 14, 2023

Termination Date

December 1, 2024

Aggregate Available

1,478

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Dec. 29, 2023	Dec. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 231.3	$ 309.4
Other comprehensive income (loss), net of tax:
Fair value of investments	0.1	0.0
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax	(0.2)	(0.8)
Comprehensive income	$ 231.2	$ 308.6

- 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	3 Months Ended
Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 29, 2023	Sep. 29, 2023
Statement of Financial Position [Abstract]
Document Period End Date	Dec. 29, 2023
Current assets:
Cash and cash equivalents	$ 1,029,700	$ 718,800
Marketable Securities, Current	15,900	15,600
Receivables, net of allowances of $0.9 and $0.8, respectively	659,400	864,300
Inventory	926,800	1,119,700
Other current assets	454,800	461,100
Total current assets	3,086,600	3,179,500
Property, plant, and equipment, net	1,342,700	1,390,100
Operating Lease, Right-of-Use Asset	204,200	205,400
Goodwill	2,176,700	2,176,700
Intangible assets, net	1,162,400	1,222,100
Deferred Income Tax Assets, Net	193,600	192,300
Marketable Securities, Noncurrent	2,000	4,100
Other long-term assets	60,900	56,500
Total assets	8,229,100	8,426,700
Current liabilities:
Accounts payable	135,700	159,200
Accrued compensation and benefits	95,200	94,300
Debt, Current	0	299,400
Other current liabilities	384,200	402,800
Total current liabilities	615,100	955,700
Long-term Debt	993,200	992,900
Long-term tax liabilities	161,500	162,800
Operating Lease, Liability, Noncurrent	191,400	188,700
Other long-term liabilities	40,700	43,900
Total liabilities	2,001,900	2,344,000
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; 160.2 shares issued and outstanding at December 29, 2023, and 159.5 shares issued and outstanding at September 29, 2023	40,100	39,900
Additional paid-in capital	194,400	172,400
Retained earnings	5,998,400	5,876,000
Accumulated other comprehensive loss	(5,700)	(5,600)
Total stockholders’ equity	6,227,200	6,082,700
Total liabilities and stockholders’ equity	$ 8,229,100	$ 8,426,700

Income Taxes

3 Months Ended

Dec. 29, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

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


	Three Months Ended
	December 29, 2023			December 30, 2022
United States income taxes	$	12.1		$	26.4
Foreign income taxes	8.3			14.9
Provision for income taxes	$	20.4		$	41.3
Effective tax rate	8.1		%	11.8		%

The difference between the Company’s effective tax rate and the 21.0% United States federal statutory rate for the three months ended December 29, 2023 and December 30, 2022 resulted primarily from foreign earnings taxed at rates lower than the federal statutory rate, a benefit from foreign-derived intangible income deduction (“FDII”), and research and experimentation and foreign tax credits earned, partially offset by a tax on global intangible low-taxed income (“GILTI”), and tax expense related to share-based compensation shortfalls.

In August 2022, the U.S. government enacted the Inflation Reduction Act, which imposes a corporate alternative minimum tax (“CAMT”) of 15% on corporations with three-year average annual adjusted financial statement income exceeding $1.0 billion. The Company is subject to the provisions of CAMT in fiscal 2024. CAMT had no impact to the Company’s consolidated financial statements for the three months ended December 29, 2023.

- 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.

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+ Details

Consolidated Statements Of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Dec. 29, 2023	Dec. 30, 2022
Income Statement [Abstract]
Document Period End Date	Dec. 29, 2023
Net revenue	$ 1,201.5	$ 1,329.3
Cost of goods sold	694.9	691.6
Gross profit	506.6	637.7
Operating expenses:
Research and development	153.1	163.9
Selling, general, and administrative	78.8	84.5
Amortization of intangible assets operating expenses	0.2	21.9
Restructuring Costs and Asset Impairment Charges	16.2	0.4
Total operating expenses	248.3	270.7
Operating income	258.3	367.0
Interest Expense	(10.0)	(16.9)
Other income, net	3.4	0.6
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	251.7	350.7
Provision for income taxes	20.4	41.3
Net income	$ 231.3	$ 309.4
Earnings per share:
Basic (in dollars per share)	$ 1.45	$ 1.94
Diluted (in dollars per share)	$ 1.44	$ 1.93
Weighted average shares:
Basic (in shares)	159.9	159.8
Diluted (in shares)	161.0	160.2
Common Stock, Dividends, Per Share, Declared	$ 0.68	$ 0.62

Stockholder's Equity (Tables)

3 Months Ended

Dec. 29, 2023

Stockholders' Equity Note [Abstract]

Dividends Declared

Dividends charged to retained earnings were as follows (in millions, except per share data):


	Fiscal Years Ended
	September 27, 2024				September 29, 2023
	Per Share		Total Amount		Per Share		Total Amount
First quarter	$	0.68	$	108.9	$	0.62	$	99.4

Schedule of share-based compensation expense

The following table summarizes the share-based compensation expense by line item in the Consolidated Statements of Operations (in millions):


	Three Months Ended
	December 29, 2023		December 30, 2022
Cost of goods sold	$	8.8	$	2.6
Research and development	25.4		27.9
Selling, general, and administrative	19.1		18.9
Total share-based compensation	$	53.3	$	49.4

Description Of Business and Basis Of Presentation	3 Months Ended
Description Of Business and Basis Of Presentation	Dec. 29, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies	DESCRIPTION OF BUSINESS, BASIS OF PRESENTATION, AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Skyworks Solutions, Inc., together with its consolidated subsidiaries (“Skyworks” or the “Company”), is empowering the wireless networking revolution. The Company’s analog and mixed-signal semiconductors are connecting people, places, and things, spanning a number of new applications within the aerospace, automotive, broadband, cellular infrastructure, connected home, defense, entertainment and gaming, industrial, medical, smartphone, tablet, and wearable markets. The accompanying unaudited interim consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial reporting. Certain information and footnote disclosures, normally included in annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), have been condensed or omitted pursuant to those rules and regulations. However, in management’s opinion, the financial information reflects all adjustments, including those of a normal recurring nature, necessary to present fairly the results of operations, financial position, and cash flows of the Company for the periods presented. The results of operations, financial position, and cash flows for the Company during the interim periods are not necessarily indicative of those expected for the full year. This information should be read in conjunction with the Company’s financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the fiscal year ended September 29, 2023, filed with the SEC on November 17, 2023, as amended by Amendment No. 1 to such Annual Report on Form 10-K, filed with the SEC on January 25, 2024 (“2023 10-K”). Certain items in the prior period financial statements have been reclassified to conform to the current period presentation. 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 that are reported 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. The Company’s fiscal year ends on the Friday closest to September 30. The fiscal year ending on September 27, 2024 consists of 52 weeks (“fiscal 2024”). The fiscal year ended on September 29, 2023 consisted of 52 weeks (“fiscal 2023”). The three months ended December 29, 2023, and December 30, 2022, each consisted of 13 weeks. 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 forty years for buildings and improvements and from five 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. During the three months ended December 29, 2023, the Company changed its accounting estimate for the expected useful lives of certain machinery and equipment. The Company evaluated its current asset base and reassessed the estimated useful lives of certain machinery and equipment in connection with its recent usage of older equipment, including considering the technological and physical obsolescence of such machinery and equipment. Based on its ability to re-use equipment across generations of process technologies and historical usage trends, the Company determined that the expected useful lives for certain machinery and equipment should be increased by up to two years to reflect more closely the estimated economic lives of those assets. This change in estimate was applied prospectively effective for the first quarter of fiscal 2024 and resulted in a decrease in depreciation expense of $22.9 million for the three months ended December 29, 2023. This benefit increased income from operations by $2.6 million and decreased ending inventory by $20.3 million as of December 29, 2023. As a result of this change in accounting estimate, net income increased by $2.6 million and diluted earnings per share increased by $0.02 for the three months ended December 29, 2023.

Earnings Per Share (Tables)

3 Months Ended

Dec. 29, 2023

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):


	Three Months Ended
	December 29, 2023		December 30, 2022
Net income	$	231.3	$	309.4

Weighted average shares outstanding – basic	159.9		159.8
Dilutive effect of equity-based awards	1.1		0.4
Weighted average shares outstanding – diluted	161.0		160.2

Net income per share – basic	$	1.45	$	1.94
Net income per share – diluted	$	1.44	$	1.93

Anti-dilutive common stock equivalents	—		1.0

Revenue Recognition (Tables)

3 Months Ended

Dec. 29, 2023

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue [Table Text Block]


	Three Months Ended
	December 29, 2023		December 30, 2022
United States	$	969.2	$	1,028.3
China	79.9		106.3
Taiwan	71.3		85.6
South Korea	45.6		35.8
Europe, Middle East, and Africa	27.1		54.1
Other Asia-Pacific	8.4		19.2
Total net revenue	$	1,201.5	$	1,329.3

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


	Three Months Ended
	December 29, 2023		December 30, 2022
Distributors	$	1,062.9	$	1,179.1
Direct customers	138.6		150.2
Total net revenue	$	1,201.5	$	1,329.3

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Fair Value

3 Months Ended

Dec. 29, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE

4. FAIR VALUE

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

The Company groups its financial assets and liabilities measured at fair value on a recurring basis in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are:

•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.

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


	As of
	December 29, 2023								September 29, 2023
			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 (1)	$	1,029.7	$	1,029.6	$	0.1	$	—	$	718.8	$	718.5	$	0.3	$	—
U.S. Treasury and government securities	17.7		0.4		17.3		—		19.2		—		19.2		—
Corporate bonds and notes	0.2		—		0.2		—		—		—		—		—
Municipal bonds	—		—		—		—		0.5		—		0.5		—
Total assets at fair value	$	1,047.6	$	1,030.0	$	17.6	$	—	$	738.5	$	718.5	$	20.0	$	—

(1) 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 the three months ended December 29, 2023, the Company abandoned a previously capitalized in-process research and development (“IPR&D”) project and recorded an impairment charge of $16.1 million. There were no indicators of impairment identified during the three months ended December 30, 2022.

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


	As of
	December 29, 2023				September 29, 2023
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
1.80% Senior Notes due 2026	497.9		462.3		497.7		444.5
3.00% Senior Notes due 2031	495.3		430.7		495.2		390.4
Total debt under Senior Notes	$	993.2	$	893.0	$	992.9	$	834.9

- 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

Description Of Business and Basis Of Presentation (New Accounting Pronouncements) (Details)	3 Months Ended
	Dec. 29, 2023
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Document Period End Date	Dec. 29, 2023

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Fair Value (Tables)

3 Months Ended

Dec. 29, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis

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


	As of
	December 29, 2023								September 29, 2023
			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 (1)	$	1,029.7	$	1,029.6	$	0.1	$	—	$	718.8	$	718.5	$	0.3	$	—
U.S. Treasury and government securities	17.7		0.4		17.3		—		19.2		—		19.2		—
Corporate bonds and notes	0.2		—		0.2		—		—		—		—		—
Municipal bonds	—		—		—		—		0.5		—		0.5		—
Total assets at fair value	$	1,047.6	$	1,030.0	$	17.6	$	—	$	738.5	$	718.5	$	20.0	$	—

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

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


	As of
	December 29, 2023				September 29, 2023
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
1.80% Senior Notes due 2026	497.9		462.3		497.7		444.5
3.00% Senior Notes due 2031	495.3		430.7		495.2		390.4
Total debt under Senior Notes	$	993.2	$	893.0	$	992.9	$	834.9

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Dec. 29, 2023	Dec. 30, 2022
Income Tax Disclosure [Abstract]
Document Period End Date	Dec. 29, 2023
United States income taxes	$ 12.1	$ 26.4
Foreign income taxes	8.3	14.9
Provision for income taxes	$ 20.4	$ 41.3
Effective tax rate	8.10%	11.80%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Goodwill and Intangible Assets (Schedule Of Intangible Assets Subject To Amortization) (Details) - USD ($) $ in Millions	Dec. 29, 2023	Sep. 29, 2023
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (463.5)	$ (570.0)
Total intangible assets, Gross Carrying Amount	1,625.9	1,792.1
Total intangible assets, Net Carrying Amount	$ 1,162.4	1,222.1
Computer Software, Intangible Asset [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	3 years
Finite-Lived Intangible Assets, Gross	$ 80.4	75.8
Accumulated Amortization	(42.2)	(36.0)
Net Carrying Amount	38.2	39.8
In Process Research and Development [Member]
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	0.0	0.0
Indefinite-lived Intangible Assets (Excluding Goodwill)	$ 255.1	271.3
Developed Technology Rights
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	6 years 1 month 6 days
Finite-Lived Intangible Assets, Gross	$ 1,290.4	1,290.4
Accumulated Amortization	(421.3)	(379.4)
Net Carrying Amount	$ 869.1	$ 911.0

Goodwill And Intangible Assets

3 Months Ended

Dec. 29, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

7. GOODWILL AND INTANGIBLE ASSETS

There were no changes to the carrying amount of goodwill during the three months ended December 29, 2023.

The Company tests its goodwill for impairment annually as of the first day of its fourth fiscal quarter and in interim periods if certain events occur indicating the carrying value of goodwill may be impaired. There were no indicators of impairment noted during the three months ended December 29, 2023.

Intangible assets consist of the following (in millions):


		As of
	Weighted Average Amortization Period (Years)	December 29, 2023						September 29, 2023
		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

Developed technology and other	6.1	$	1,290.4	$	(421.3)	$	869.1	$	1,290.4	$	(379.4)	$	911.0
Technology licenses	3.0	80.4		(42.2)		38.2		75.8		(36.0)		39.8
In-process research and development		255.1		—		255.1		271.3		—		271.3
Total intangible assets		$	1,625.9	$	(463.5)	$	1,162.4	$	1,792.1	$	(570.0)	$	1,222.1

Fully amortized intangible assets are eliminated from both the gross and accumulated amortization amounts in the first quarter of each fiscal year. Amortization expense related to definite-lived intangible assets was $48.1 million and $72.0 million for the three months ended December 29, 2023 and December 30, 2022, respectively.

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):


	Remaining 2024		2025		2026		2027		2028		Thereafter


Amortization expense	$	131.7	$	156.6	$	128.7	$	113.5	$	90.3	$	286.5

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Dec. 29, 2023	Sep. 29, 2023
Income Tax Disclosure [Abstract]
Federal statutory income tax rate	21.00%
Accrued income taxes, current	$ 68.2	$ 58.8

Earnings Per Share (Schedule Of Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Dec. 29, 2023	Dec. 30, 2022
Earnings Per Share [Abstract]
Net income	$ 231.3	$ 309.4
Weighted average shares outstanding - basic (shares)	159.9	159.8
Dilutive effect of equity based awards (shares)	1.1	0.4
Weighted average shares outstanding - diluted (shares)	161.0	160.2
Net income per share - basic (usd per share)	$ 1.45	$ 1.94
Net income per share - diluted (usd per share)	$ 1.44	$ 1.93
Anti-dilutive common stock equivalents (shares)	0.0	1.0

- 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.

+ References

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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

Marketable Securities

3 Months Ended

Dec. 29, 2023

Investments, Debt and Equity Securities [Abstract]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

3. MARKETABLE SECURITIES

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


	Current				Noncurrent
	December 29, 2023		September 29, 2023		December 29, 2023		September 29, 2023
U.S. Treasury and government securities	$	15.7	$	15.1	$	2.0	$	4.1
Corporate bonds and notes	0.2		—		—		—
Municipal bonds	—		0.5		—		—
Total marketable securities	$	15.9	$	15.6	$	2.0	$	4.1

Neither gross unrealized gains and losses nor realized gains and losses were material as of December 29, 2023, or September 29, 2023.

Stockholder's Equity (Dividend) (Details) - USD ($) $ / shares in Units, $ in Millions				3 Months Ended
	Mar. 12, 2024	Feb. 20, 2024	Jan. 30, 2024	Dec. 29, 2023	Dec. 30, 2022
Dividends Payable [Line Items]
Document Period End Date				Dec. 29, 2023
Payments of Ordinary Dividends				$ 108.9	$ 99.4
Payments of ordinary dividends				$ 108.9	$ 99.4
Common Stock, Dividends, Per Share, Declared				$ 0.68	$ 0.62
Subsequent Event [Member] \| Dividend Declared [Member]
Dividends Payable [Line Items]
Dividend declaration date			Jan. 30, 2024
dividends date to be paid	Mar. 12, 2024
Dividends date of record		Feb. 20, 2024
Cash dividends declared and paid per share (usd per share)			$ 0.68

Goodwill and Intangible Assets (Schedule Of Expected Annual Amortization Expense Related To Intangible Assets For The Next Five Years) (Details) $ in Millions	Dec. 29, 2023 USD ($)
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract]
Remaining 2019	$ 131.7
2020	128.7
2021	113.5
2022	90.3
Thereafter	286.5
Finite-Lived Intangible Asset, Expected Amortization, Year One	$ 156.6

Other Liabilities

3 Months Ended

Dec. 29, 2023

Condensed Financial Information Disclosure [Abstract]

Additional Financial Information Disclosure

12. SUPPLEMENTAL FINANCIAL INFORMATION

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


	As of
	December 29, 2023		September 29, 2023
Prepaid expenses	$	288.4	$	306.0
Other	166.4		155.1
Total other current assets	$	454.8	$	461.1

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


	As of
	December 29, 2023		September 29, 2023
Accrued customer liabilities	$	240.6	$	270.9
Accrued taxes	68.2		58.8
Short-term operating lease liabilities	27.0		28.3
Other	48.4		44.8
Total other current liabilities	$	384.2	$	402.8

Revenue Recognition (Notes)

3 Months Ended

Dec. 29, 2023

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

2. REVENUE RECOGNITION

The Company presents net revenue by geographic area, based upon the location of the original equipment manufacturers’ (“OEMs”) headquarters, and by 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 upon the location of the Company’s direct customer, which is typically a distributor.

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


	Three Months Ended
	December 29, 2023		December 30, 2022
United States	$	969.2	$	1,028.3
China	79.9		106.3
Taiwan	71.3		85.6
South Korea	45.6		35.8
Europe, Middle East, and Africa	27.1		54.1
Other Asia-Pacific	8.4		19.2
Total net revenue	$	1,201.5	$	1,329.3

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


	Three Months Ended
	December 29, 2023		December 30, 2022
Distributors	$	1,062.9	$	1,179.1
Direct customers	138.6		150.2
Total net revenue	$	1,201.5	$	1,329.3

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Income Taxes (Tables)

3 Months Ended

Dec. 29, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

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


	Three Months Ended
	December 29, 2023			December 30, 2022
United States income taxes	$	12.1		$	26.4
Foreign income taxes	8.3			14.9
Provision for income taxes	$	20.4		$	41.3
Effective tax rate	8.1		%	11.8		%

Description Of Business and Basis Of Presentation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Dec. 29, 2023	Dec. 30, 2022
Change in Accounting Estimate [Line Items]
Depreciation	$ 64.7	$ 99.4
Operating Income (Loss)	258.3	367.0
Net income	$ 231.3	$ 309.4
Diluted (in dollars per share)	$ 1.44	$ 1.93
Service Life
Change in Accounting Estimate [Line Items]
Depreciation	$ 22.9
Operating Income (Loss)	2.6
Inventory Adjustments	20.3
Net income	$ 2.6
Diluted (in dollars per share)	$ 0.02

- Definition

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

- Definition

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

+ References

+ Details

Marketable Securities (Details) - USD ($) $ in Millions	Dec. 29, 2023	Sep. 29, 2023
Other Current Assets [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Current	$ 15.9	$ 15.6
Other Noncurrent Assets [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Noncurrent	2.0	4.1
US Treasury and Government [Member] \| Other Current Assets [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Current	15.7	15.1
US Treasury and Government [Member] \| Other Noncurrent Assets [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Noncurrent	2.0	4.1
Corporate Debt Securities [Member] \| Other Current Assets [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Current	0.2	0.0
Corporate Debt Securities [Member] \| Other Noncurrent Assets [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Noncurrent	0.0	0.0
US States and Political Subdivisions Debt Securities [Member] \| Other Current Assets [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Current	0.0	0.5
US States and Political Subdivisions Debt Securities [Member] \| Other Noncurrent Assets [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Noncurrent	$ 0.0	$ 0.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

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+ Details

Fair Value , Assets and Liabilities Measured on Nonrecurring Basis (Details) - USD ($) $ in Millions	Dec. 29, 2023	Sep. 29, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	$ 993.2	$ 992.9
2026 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes, Noncurrent	497.9	497.7
2031 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes, Noncurrent	495.3	495.2
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	893.0	834.9
Fair Value, Inputs, Level 2 [Member] \| 2026 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	462.3	444.5
Fair Value, Inputs, Level 2 [Member] \| 2031 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	$ 430.7	$ 390.4

Description Of Business and Basis Of Presentation (Policies)	3 Months Ended
	Dec. 29, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fiscal Period	The Company’s fiscal year ends on the Friday closest to September 30. The fiscal year ending on September 27, 2024 consists of 52 weeks (“fiscal 2024”). The fiscal year ended on September 29, 2023 consisted of 52 weeks (“fiscal 2023”). The three months ended December 29, 2023, and December 30, 2022, each consisted of 13 weeks.
Property, Plant and Equipment, Policy	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 forty years for buildings and improvements and from five 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.
New Accounting Pronouncements, Policy	Recently Issued Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosure” (“ASU 2023-07”). ASU 2023-07 requires disclosure of incremental segment information on an annual and interim basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, on a retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2023-07 on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09,“Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). ASU 2023-09 includes amendments that further enhance income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, on either a prospective or retrospective basis, with early adoption permitted. The Company is currently evaluating the impact of ASU 2023-09 on its consolidated financial statements and related disclosures.
Use of Estimates, Policy	During the three months ended December 29, 2023, the Company changed its accounting estimate for the expected useful lives of certain machinery and equipment. The Company evaluated its current asset base and reassessed the estimated useful lives of certain machinery and equipment in connection with its recent usage of older equipment, including considering the technological and physical obsolescence of such machinery and equipment. Based on its ability to re-use equipment across generations of process technologies and historical usage trends, the Company determined that the expected useful lives for certain machinery and equipment should be increased by up to two years to reflect more closely the estimated economic lives of those assets. This change in estimate was applied prospectively effective for the first quarter of fiscal 2024 and resulted in a decrease in depreciation expense of $22.9 million for the three months ended December 29, 2023. This benefit increased income from operations by $2.6 million and decreased ending inventory by $20.3 million as of December 29, 2023. As a result of this change in accounting estimate, net income increased by $2.6 million and diluted earnings per share increased by $0.02 for the three months ended December 29, 2023.

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Dec. 29, 2023	Sep. 29, 2023
Statement of Financial Position [Abstract]
Accounts Receivable, Allowance for Credit Loss, Current	$ 0.9	$ 0.8
Stockholders' Equity Attributable to Parent [Abstract]
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Common stock, par value (in dollars per share)	$ 0.25	$ 0.25
Preferred Stock, Shares Authorized	25.0	25.0
Preferred Stock, Shares Issued	0.0	0.0
Common Stock, Shares Authorized	525.0	525.0
Common Stock, Shares, Issued	160.2	159.5
Common Stock, Shares, Outstanding	160.2	159.5

Other Liabilities (Tables)

3 Months Ended

Dec. 29, 2023

Condensed Financial Information Disclosure [Abstract]

Other Current Liabilities

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


	As of
	December 29, 2023		September 29, 2023
Accrued customer liabilities	$	240.6	$	270.9
Accrued taxes	68.2		58.8
Short-term operating lease liabilities	27.0		28.3
Other	48.4		44.8
Total other current liabilities	$	384.2	$	402.8

Schedule of Other Current Assets

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


	As of
	December 29, 2023		September 29, 2023
Prepaid expenses	$	288.4	$	306.0
Other	166.4		155.1
Total other current assets	$	454.8	$	461.1

Document And Entity Information - $ / shares	3 Months Ended
Document And Entity Information - $ / shares	Dec. 29, 2023	Jan. 24, 2024
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Dec. 29, 2023
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-05560
Entity Registrant Name	Skyworks Solutions, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-2302115
Entity Address, Address Line One	5260 California Avenue
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92617
City Area Code	(949)
Local Phone Number	231-3000
Title of 12(b) Security	Common Stock, par value $0.25 per share
Trading Symbol	SWKS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		160,225,891
Entity Listing, Par Value Per Share	$ 0.25
Entity Central Index Key	0000004127
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--09-27

Fair Value (Schedule Of Financial Instruments Measured At Fair Value On Recurring Basis) (Details) - Fair Value, Recurring [Member] - USD ($) $ in Millions	Dec. 29, 2023	Sep. 29, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents (1)	$ 1,029.7	$ 718.8
Assets, Fair Value Disclosure	1,047.6	738.5
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents (1)	1,029.6	718.5
Assets, Fair Value Disclosure	1,030.0	718.5
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents (1)	0.1	0.3
Assets, Fair Value Disclosure	17.6	20.0
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents (1)	0.0	0.0
Assets, Fair Value Disclosure	0.0	0.0
US Treasury and Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	17.7	19.2
US Treasury and Government [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0.4	0.0
US Treasury and Government [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	17.3	19.2
US Treasury and Government [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0.0	0.0
Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0.2	0.0
Corporate Debt Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0.0	0.0
Corporate Debt Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0.2	0.0
Corporate Debt Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0.0	0.0
US States and Political Subdivisions Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0.0	0.5
US States and Political Subdivisions Debt Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0.0	0.0
US States and Political Subdivisions Debt Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0.0	0.5
US States and Political Subdivisions Debt Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	$ 0.0	$ 0.0

Subsequent Events (Details) - USD ($) $ in Millions	3 Months Ended
Subsequent Events (Details) - USD ($) $ in Millions	Dec. 29, 2023	Dec. 30, 2022
Subsequent Event [Line Items]
Repayments of Long-term Debt	$ 300.0	$ 0.0

Commitments and Contingencies (Details) $ in Thousands	Dec. 29, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Deposits Assets, Noncurrent	$ 16,000
Deposits Assets, Current	$ 43,000

Statement of Stockholders Equity Statement - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock, Common
Common Stock, Shares, Outstanding		160,200
Stockholders' Equity Attributable to Parent	$ 5,469,000	$ 40,000	$ 11,900	$ 5,421,900	$ (4,800)	$ 0
Treasury Stock, Common, Shares						0
Net income	309,400			309,400
StockIssuedDuringPeriodSharesShareBasedCompensationNetofRelatedTaxes(inshares)		700				300
StockIssuedDuringPeriodValueShareBasedCompensationNetofRelatedTaxes	(11,700)	$ 200	20,000			$ (31,900)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	49,700		49,700
Stock Repurchased and Retired During Period, Value				(120,000)
Stock Repurchased During Period, Value	166,300	$ 500	77,700			$ (31,900)
Stock Repurchased During Period, Shares		(1,800)				(300)
Dividends	(99,400)			(99,400)
Other Comprehensive Income (Loss), Net of Tax	800				(800)
Treasury Stock, Value, Acquired, Par Value Method	$ 166,200
Treasury Stock, Shares, Acquired	1,800
Common Stock, Shares, Outstanding		159,100
Stockholders' Equity Attributable to Parent	$ 5,549,900	$ 39,700	3,900	5,511,900	(5,600)	$ 0
Treasury Stock, Common, Shares						0
Common Stock, Shares, Outstanding	159,500	159,500
Stockholders' Equity Attributable to Parent	$ 6,082,700	$ 39,900	172,400	5,876,000	(5,600)	$ 0
Treasury Stock, Common, Shares						0
Net income	231,300			231,300
StockIssuedDuringPeriodSharesShareBasedCompensationNetofRelatedTaxes(inshares)		700				400
StockIssuedDuringPeriodValueShareBasedCompensationNetofRelatedTaxes	(30,400)	$ 200	2,100			$ (32,700)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	52,600		52,600
Stock Repurchased and Retired During Period, Shares		0				(400)
Stock Repurchased and Retired During Period, Value	0	$ 0	(32,700)	0		$ (32,700)
Dividends	(108,900)			(108,900)
Other Comprehensive Income (Loss), Net of Tax	$ 100				(100)
Common Stock, Shares, Outstanding	160,200	160,200
Stockholders' Equity Attributable to Parent	$ 6,227,200	$ 40,100	$ 194,400	$ 5,998,400	$ (5,700)	$ 0
Remaining amount authorized fro stock repurchase	$ 2,000,000
Treasury Stock, Common, Shares						0

Stockholder's Equity (Share Based Compensation) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 29, 2023	Dec. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Document Period End Date	Dec. 29, 2023
Share-based compensation expense	$ 53.3	$ 49.4
Cost of sales [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	8.8	2.6
Research and development [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	25.4	27.9
Selling, general and administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 19.1	$ 18.9

Marketable Securities (Tables)

3 Months Ended

Dec. 29, 2023

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

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


	Current				Noncurrent
	December 29, 2023		September 29, 2023		December 29, 2023		September 29, 2023
U.S. Treasury and government securities	$	15.7	$	15.1	$	2.0	$	4.1
Corporate bonds and notes	0.2		—		—		—
Municipal bonds	—		0.5		—		—
Total marketable securities	$	15.9	$	15.6	$	2.0	$	4.1

Label	Element	Value
2023 Stock Repurchase Plan [Member]
Stock Repurchase Program, Authorized Amount	us-gaap_StockRepurchaseProgramAuthorizedAmount1	$ 2,000,000,000
2023 Stock Repurchase Plan [Member] \| Subsequent Event [Member]
Stock Repurchase Program Expiration Date	us-gaap_StockRepurchaseProgramExpirationDate	Feb. 01, 2025

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Dec. 29, 2023	Dec. 30, 2022
Statement of Cash Flows [Abstract]
Document Period End Date	Dec. 29, 2023
Net income	$ 231,300	$ 309,400
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation	53,300	49,400
Depreciation	64,700	99,400
Amortization	48,100	72,000
Deferred income taxes	(2,600)	(29,900)
Asset Impairment Charges	16,100	0
Amortization of Debt Issuance Costs and Discounts	1,900	700
Other Noncash Income (Expense)	(4,400)	0
Changes in assets and liabilities:
Receivables, net	204,900	329,900
Inventory	192,200	(55,800)
Accounts payable	(18,700)	(87,800)
Other current and long-term assets and liabilities	(11,900)	86,100
Net Cash Provided by (Used in) Operating Activities	774,900	773,400
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment	22,200	63,500
Payments to Acquire Marketable Securities	(1,100)	(163,100)
Payments to Acquire Intangible Assets	7,600	7,800
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale	3,200	11,300
Payments for (Proceeds from) Other Investing Activities	4,200	0
Net Cash Provided by (Used in) Investing Activities	(23,500)	(223,100)
Cash flows from financing activities:
Repurchase of common stock - payroll tax withholdings on equity awards	(32,700)	(31,900)
Repurchase of common stock - stock repurchase program	0	(166,200)
Dividends paid	(108,900)	(99,400)
Net proceeds from exercise of stock options	1,100	1,100
Repayments of Long-term Debt	(300,000)	0
Net Cash Provided by (Used in) Financing Activities	(440,500)	(296,400)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	310,900	253,900
Cash and cash equivalents at beginning of period	718,800	566,000
Cash and cash equivalents at end of period	1,029,700	819,900
Supplemental cash flow disclosures:
Income taxes paid	5,100	3,000
Interest Paid, Excluding Capitalized Interest, Operating Activities	15,000	23,300
Stock Issued	1,200	19,200
Capital Expenditures Incurred but Not yet Paid	7,400	37,200
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 4,900	$ 500

Property, Plant and Equipment (Schedule Of Property, Plant And Equipment) (Details) - USD ($) $ in Millions	Dec. 29, 2023	Sep. 29, 2023
Property, Plant and Equipment
Total property, plant, and equipment, gross	$ 4,171.8	$ 4,171.7
Accumulated depreciation	(2,829.1)	(2,781.6)
Total property, plant, and equipment, net	1,342.7	1,390.1
Land and improvements [Member]
Property, Plant and Equipment
Total property, plant, and equipment, gross	11.8	11.8
Building and improvements [Member]
Property, Plant and Equipment
Total property, plant, and equipment, gross	592.1	588.2
Furniture and fixtures [Member]
Property, Plant and Equipment
Total property, plant, and equipment, gross	3,413.3	74.8
Machinery and equipment [Member]
Property, Plant and Equipment
Total property, plant, and equipment, gross	76.1	3,389.3
Construction in progress [Member]
Property, Plant and Equipment
Total property, plant, and equipment, gross	$ 78.5	$ 107.6

Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended
Revenue Recognition (Details) - USD ($) $ in Millions	Dec. 29, 2023	Dec. 30, 2022
Disaggregation of Revenue [Line Items]
Document Period End Date	Dec. 29, 2023
Revenues	$ 1,201.5	$ 1,329.3
Revenue from Contract with Customer, Excluding Assessed Tax	1,201.5	1,329.3
Sales Channel, Through Intermediary
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,062.9	1,179.1
Sales Channel, Directly to Consumer
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	138.6	150.2
UNITED STATES
Disaggregation of Revenue [Line Items]
Revenues	969.2	1,028.3
CHINA
Disaggregation of Revenue [Line Items]
Revenues	79.9	106.3
KOREA, REPUBLIC OF
Disaggregation of Revenue [Line Items]
Revenues	45.6	35.8
TAIWAN, PROVINCE OF CHINA
Disaggregation of Revenue [Line Items]
Revenues	71.3	85.6
EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues	27.1	54.1
Asia, Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 8.4	$ 19.2

Stockholder's Equity

3 Months Ended

Dec. 29, 2023

Stockholders' Equity Note [Abstract]

Equity [Text Block]

10. STOCKHOLDERS’ EQUITY

Stock Repurchase

On January 31, 2023, the Board of Directors approved a stock repurchase program (“January 31, 2023 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 through February 1, 2025, on the open market or in privately negotiated transactions, in compliance with applicable securities laws and other legal requirements. The January 31, 2023 stock repurchase program succeeds in its entirety the stock repurchase program approved by the Board of Directors on January 26, 2021 (“January 26, 2021 stock repurchase program”). The timing and amount of any shares of the Company’s common stock that are repurchased under the January 31, 2023 stock repurchase program will be determined by the Company’s management based on its evaluation of market conditions and other factors. The January 31, 2023 stock repurchase program may be suspended or discontinued at any time. The Company currently expects to fund the January 31, 2023 stock repurchase program using the Company’s working capital.

During the three months ended December 29, 2023, the Company did not repurchase any shares of its common stock pursuant to the January 31, 2023 stock repurchase program. As of December 29, 2023, $2.0 billion remained available under the January 31, 2023 stock repurchase program.

During the three months ended December 30, 2022, the Company paid $166.2 million (including commissions) in connection with the repurchase of 1.8 million shares of its common stock (paying an average price of $90.57 per share), all of which shares were repurchased pursuant to the January 26, 2021 stock repurchase program.

Dividends

On January 30, 2024, the Company announced that the Board of Directors had declared a cash dividend on the Company’s common stock of $0.68 per share. This dividend is payable on March 12, 2024, to the Company’s stockholders of record as of the close of business on February 20, 2024.

Dividends charged to retained earnings were as follows (in millions, except per share data):


	Fiscal Years Ended
	September 27, 2024				September 29, 2023
	Per Share		Total Amount		Per Share		Total Amount
First quarter	$	0.68	$	108.9	$	0.62	$	99.4

Share-based Compensation

The following table summarizes the share-based compensation expense by line item in the Consolidated Statements of Operations (in millions):


	Three Months Ended
	December 29, 2023		December 30, 2022
Cost of goods sold	$	8.8	$	2.6
Research and development	25.4		27.9
Selling, general, and administrative	19.1		18.9
Total share-based compensation	$	53.3	$	49.4

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Paragraph 13
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 29, 2023	Sep. 29, 2023
Condensed Financial Information Disclosure [Abstract]
Accrued income taxes, current	$ 68,200	$ 58,800
Operating Lease, Liability, Current	27,000	28,300
Contract with Customer, Refund Liability	240,600	270,900
Other miscellaneous current liabilities [Line Items]	48,400	44,800
Other Accrued Liabilities, Current	384,200	402,800
Other Assets, Current	454,800	461,100
Prepaid Expense, Current	288,400	306,000
Other miscellaneous current assets	$ 166,400	$ 155,100

Goodwill and Intangible Assets (Tables)

3 Months Ended

Dec. 29, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets Excluding Goodwill

Intangible assets consist of the following (in millions):


		As of
	Weighted Average Amortization Period (Years)	December 29, 2023						September 29, 2023
		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

Developed technology and other	6.1	$	1,290.4	$	(421.3)	$	869.1	$	1,290.4	$	(379.4)	$	911.0
Technology licenses	3.0	80.4		(42.2)		38.2		75.8		(36.0)		39.8
In-process research and development		255.1		—		255.1		271.3		—		271.3
Total intangible assets		$	1,625.9	$	(463.5)	$	1,162.4	$	1,792.1	$	(570.0)	$	1,222.1

Schedule Of Expected Annual Amortization Expense Related To Intangible Assets For The Next Five Years

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):


	Remaining 2024		2025		2026		2027		2028		Thereafter


Amortization expense	$	131.7	$	156.6	$	128.7	$	113.5	$	90.3	$	286.5

Inventory (Schedule Of Inventories) (Details) - USD ($) $ in Millions	Dec. 29, 2023	Sep. 29, 2023
Inventory, Net [Abstract]
Raw materials	$ 44.7	$ 57.2
Work-in-process	691.0	746.8
Finished goods	191.1	315.7
Total inventory	$ 926.8	$ 1,119.7

Inventory (Tables)

3 Months Ended

Dec. 29, 2023

Inventory, Net [Abstract]

Schedule Of Inventories

Inventory consists of the following (in millions):


	As of
	December 29, 2023		September 29, 2023
Raw materials	$	44.7	$	57.2
Work-in-process	691.0		746.8
Finished goods	191.1		315.7
Total inventory	$	926.8	$	1,119.7

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Dec. 29, 2023	Dec. 30, 2022
Pay vs Performance Disclosure
Net income	$ 231.3	$ 309.4

- Definition

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

+ References

+ Details

Property, Plant and Equipment (Tables)

3 Months Ended

Dec. 29, 2023

Property, Plant and Equipment [Abstract]

Schedule Of Property, Plant And Equipment

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


	As of
	December 29, 2023		September 29, 2023
Land and improvements	$	11.8	$	11.8
Buildings and improvements	592.1		588.2
Furniture and fixtures	76.1		74.8
Machinery and equipment	3,413.3		3,389.3
Construction in progress	78.5		107.6
Total property, plant, and equipment, gross	4,171.8		4,171.7
Accumulated depreciation	(2,829.1)		(2,781.6)
Total property, plant, and equipment, net	$	1,342.7	$	1,390.1

Inventory

3 Months Ended

Dec. 29, 2023

Inventory, Net [Abstract]

INVENTORY

Inventory consists of the following (in millions):


	As of
	December 29, 2023		September 29, 2023
Raw materials	$	44.7	$	57.2
Work-in-process	691.0		746.8
Finished goods	191.1		315.7
Total inventory	$	926.8	$	1,119.7

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Dec. 29, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	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 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 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. Purchase Commitments The Company purchases materials primarily pursuant to individual purchase orders, some of which have underlying master purchase agreements. Some of these purchase commitments are cancellable, and some are non-cancelable, depending on the terms with each individual supplier. In the event of cancellation, the Company may be required to pay costs incurred through the date of cancellation or other fees. When cancellation would result in incurring costs or other fees, the Company has historically sought to negotiate amended terms to the original agreements and orders to limit its exposure. As such, the Company believes that purchase commitments as of any particular date may not be a reliable indicator of future commitments. The Company maintains certain minimum purchase commitments under long-term capacity reservation agreements primarily with foundries for the purchase of wafers. Under these agreements, the Company has agreed to pay refundable deposits to the suppliers in exchange for reserved manufacturing production capacity over the term of the agreements. As of December 29, 2023, the remaining deposits under the long-term capacity reservation agreements were $43.0 million and $16.0 million recorded within other current assets and other long-term assets, respectively.

Property, Plant And Equipment

3 Months Ended

Dec. 29, 2023

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
	December 29, 2023		September 29, 2023
Land and improvements	$	11.8	$	11.8
Buildings and improvements	592.1		588.2
Furniture and fixtures	76.1		74.8
Machinery and equipment	3,413.3		3,389.3
Construction in progress	78.5		107.6
Total property, plant, and equipment, gross	4,171.8		4,171.7
Accumulated depreciation	(2,829.1)		(2,781.6)
Total property, plant, and equipment, net	$	1,342.7	$	1,390.1