Varex Imaging (VREX) 10-Q 18 Feb 20 2020 Q1 Quarterly report Financial data

Cover

Cover - shares shares in Millions	3 Months Ended
	Jan. 03, 2020	Feb. 11, 2020
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 3, 2020
Document Transition Report	false
Entity File Number	001-37860
Entity Registrant Name	VAREX IMAGING CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-3434516
Entity Address, Address Line One	1678 S. Pioneer Road
Entity Address, City or Town	Salt Lake City
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84104
City Area Code	801
Local Phone Number	972-5000
Title of 12(b) Security	Common Stock
Trading Symbol	VREX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Smaller Reporting Company	false
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		38.5
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001681622
Current Fiscal Year End Date	--10-02

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Jan. 03, 2020	Dec. 28, 2018
Income Statement [Abstract]
Revenues, net	$ 200.1	$ 185.7
Cost of revenues	139	125.7
Gross margin	61.1	60
Operating expenses:
Research and development	21.7	18.8
Selling, general and administrative	34.8	30.8
Total operating expenses	56.5	49.6
Operating earnings	4.6	10.4
Interest expense	(5.4)	(5.1)
Other expense, net	(0.4)	(1.2)
Interest and other expense, net	(5.8)	(6.3)
(Loss) earnings before taxes	(1.2)	4.1
Taxes on earnings	0	1.1
Net (loss) earnings	(1.2)	3
Less: Net earnings attributable to noncontrolling interests	0.1	0
Net (loss) earnings attributable to Varex	$ (1.3)	$ 3
Net (loss) earnings per common share attributable to Varex
Earnings per share, basic (in USD per share)	$ (0.03)	$ 0.08
Earnings per share, diluted (in USD per share)	$ (0.03)	$ 0.08
Weighted average common shares outstanding
Weighted average common shares outstanding, basic (in shares)	38.5	38.1
Weighted average common shares outstanding, diluted (in shares)	38.5	38.3

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) EARNINGS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Jan. 03, 2020	Dec. 28, 2018
Statement of Comprehensive Income [Abstract]
Net (loss) earnings	$ (1.2)	$ 3
Other comprehensive (loss) earnings, net of tax:
Unrealized (loss)/gain on interest rate swap contracts		(2.3)
Unrealized (loss)/gain on interest rate swap contracts	0	(2.3)
Foreign currency translation adjustments	(0.9)	0
Other comprehensive (loss) earnings, net of tax	(0.9)	(2.3)
Comprehensive (loss) earnings	(2.1)	0.7
Less: Comprehensive earnings attributable to noncontrolling interests	0.1	0
Comprehensive (loss) earnings attributable to Varex	$ (2.2)	$ 0.7

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Jan. 03, 2020	Sep. 27, 2019
Current assets:
Cash and cash equivalents	$ 30	$ 29.9
Accounts receivable, net	122.9	141
Inventories	269.1	248.2
Prepaid expenses and other current assets	18.2	19.3
Total current assets	440.2	438.4
Property, Plant, And Equipment And Finance Lease Right-Of-Use Asset, After Accumulated Depreciation And Amortization	146.2
Property, plant and equipment, net		142.3
Goodwill	290.8	290.8
Intangible assets, net	81.8	86.3
Investments in privately-held companies	54.9	53.6
Operating lease assets	25.1
Other assets	29.4	27.5
Total assets	1,068.4	1,038.9
Current liabilities:
Accounts payable	73.2	58.2
Accrued liabilities and other current liabilities	70.9	75.7
Current operating lease liabilities	6.7
Current maturities of long-term debt	30.4	30.7
Deferred revenues	9.7	10.5
Total current liabilities	190.9	175.1
Long-term debt, net	350.9	364.4
Deferred tax liabilities	8.9	8.2
Operating lease liabilities	19.2
Other long-term liabilities	36.6	32.5
Total liabilities	606.5	580.2
Commitments and contingencies
Redeemable noncontrolling interests	10.7	10.5
Equity:
Preferred stock, $.01 par value: 20,000,000 shares authorized, none issued	0	0
Common stock, $.01 par value: 150,000,000 shares authorized, 38,494,349 issued and outstanding as of January 3, 2020 ; 38,371,305 issued and outstanding as of September 27, 2019	0.4	0.4
Additional paid-in capital	377.6	371.8
Accumulated other comprehensive loss	(2.6)	(1.7)
Retained earnings	72.5	74.4
Total Varex equity	447.9	444.9
Noncontrolling interests	3.3	3.3
Total equity	451.2	448.2
Total liabilities, redeemable noncontrolling interests and equity	$ 1,068.4	$ 1,038.9

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jan. 03, 2020	Sep. 27, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value (in USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value per share (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares, issued (in shares)	38,494,349	38,371,305
Common stock, shares, outstanding (in shares)	38,494,349	38,371,305

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Jan. 03, 2020	Dec. 28, 2018
Cash flows from operating activities:
Net (loss) earnings	$ (1.2)	$ 3
Adjustments to reconcile net earnings to net cash provided by operating activities:
Share-based compensation expense	3.2	2.6
Depreciation	5.2	9.8
Amortization of intangible assets	4.5	3.7
Deferred taxes	0.5	(2.5)
Income from equity method investments	(0.7)	(0.8)
Amortization of deferred loan costs	0.6	0.6
Other, net	0	0.1
Changes in assets and liabilities, net of effects of acquisition:
Accounts receivable	18.5	20.6
Inventories	(21.1)	(22)
Prepaid expenses and other assets	3.7	3.7
Accounts payable	15.4	(0.5)
Accrued liabilities and other current and long-term operating liabilities	(4.8)	3.1
Deferred revenues	(0.8)	(1.4)
Net cash provided by operating activities	23	20
Cash flows from investing activities:
Purchases of property, plant and equipment	(8.1)	(3.4)
Acquisitions of businesses, net of cash acquired	(1.2)	0
Contributions and advances to joint ventures	(1.3)	0
Net cash used in investing activities	(10.6)	(3.4)
Cash flows from financing activities:
Borrowings under credit agreements	3	4
Repayments of borrowing under credit agreements	(17.8)	(19)
Proceeds from exercise of stock options	1.1	0
Proceeds from shares issued under employee stock purchase plan	1.8	1.9
Other financing activities	(0.1)	0
Net cash used in financing activities	(12)	(13.1)
Effects of exchange rate changes on cash and cash equivalents and restricted cash	(0.3)	(0.4)
Net increase in cash and cash equivalents and restricted cash	0.1	3.1
Cash and cash equivalents and restricted cash at beginning of period	31.3	53.4
Cash and cash equivalents and restricted cash at end of period	31.4	56.5
Supplemental cash flow information:
Cash paid for interest	5	3
Cash paid for income tax	0.5	0.6
Supplemental non-cash activities:
Purchases of property, plant and equipment financed through accounts payable	$ 0.8	$ 1.8

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Total Varex Equity	Noncontrolling Interests
Common stock, shares, outstanding, beginning balance (in shares) at Sep. 28, 2018		38,000,000
Stockholders' equity, beginning balance at Sep. 28, 2018	$ 428.3	$ 0.4	$ 357.6	$ 5.8	$ 62.4	$ 426.2	$ 2.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	2.8				3	3	(0.2)
Common stock issued under employee stock purchase plan (in shares)		100,000
Common stock issued under employee stock purchase plan	1.9		1.9			1.9
Share-based compensation	2.6		2.6			2.6
Unrealized loss on interest rate swap contracts, net of tax	(2.3)			(2.3)		(2.3)
Common stock, shares, outstanding, ending balance (in shares) at Dec. 28, 2018		38,100,000
Stockholders' equity, ending balance at Dec. 28, 2018	$ 429.2	$ 0.4	362.1	3.5	61.3	427.3	1.9
Common stock, shares, outstanding, beginning balance (in shares) at Sep. 27, 2019	38,371,305	38,400,000
Stockholders' equity, beginning balance at Sep. 27, 2019	$ 448.2	$ 0.4	371.8	(1.7)	74.4	444.9	3.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	(1.3)				(1.3)	(1.3)	0
Exercise of stock options	1.1		1.1			1.1
Common stock issued under employee stock purchase plan (in shares)		100,000
Common stock issued under employee stock purchase plan	1.8		1.8			1.8
Share-based compensation	3.2		3.2			3.2
Unrealized loss on interest rate swap contracts, net of tax	0
Currency translation adjustments	(0.9)			(0.9)		(0.9)
Other	$ (0.3)		(0.3)			(0.3)
Common stock, shares, outstanding, ending balance (in shares) at Jan. 03, 2020	38,494,349	38,500,000
Stockholders' equity, ending balance at Jan. 03, 2020	$ 451.2	$ 0.4	$ 377.6	$ (2.6)	$ 72.5	$ 447.9	$ 3.3

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Jan. 03, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business Varex Imaging Corporation (the “Company,” “Varex” or “Varex Imaging”) designs, manufactures, sells and services a broad range of Medical products, which include X-ray imaging components, including X-ray tubes, digital detectors and accessories, high voltage connectors, image processing software and workstations, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, ionization chambers and buckys, for use in a range of applications, including radiographic or fluoroscopic imaging, mammography, computed tomography, oncology and computer-aided detection. The Company sells its products to imaging system original equipment manufacturer (“OEM”) customers for incorporation into new medical diagnostic, radiation therapy, dental, and veterinary imaging systems, to independent service companies, distributors and directly to end-users for replacement purposes. The Company also designs, manufacturers, sells and services industrial products, which include Linatron ® X-ray accelerators, imaging processing software and image detection products for security and inspection purposes, such as cargo screening at ports and borders and nondestructive examination in a variety of applications. The Company generally sells security and inspection products to OEM customers who incorporate Varex’s products into their inspection systems. The Company conducts an active research and development program to focus on new technology and applications in both the medical and industrial X-ray imaging markets. Varex Imaging Corporation was incorporated in Delaware on July 18, 2016 and is listed on the NASDAQ Global Select Market under the ticker “VREX.” Basis of Presentation and Principle of Consolidation The accompanying condensed consolidated financial statements are unaudited. These condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). In the opinion of management, these condensed consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results for the interim periods. These condensed consolidated financial statements and the accompanying notes are unaudited and should be read in conjunction with the consolidated financial statements for the fiscal years ended 2019 , 2018 and 2017 included in the Company’s Form 10-K, which was filed with the SEC on December 20, 2019 . The Company considers events or transactions that occur after the balance sheet date, but before the financial statements are issued, to provide additional evidence relative to certain estimates or to identify matters that require additional disclosures. Except for the change in certain policies upon adoption of the accounting standards described below, there have been no material changes to the Company's significant accounting policies, compared to the accounting policies described in Note 1, Summary of Significant Accounting Policies , in the Company’s Annual Report on Form 10-K for fiscal year 2019 Fiscal Year The fiscal years of the Company as reported are the 52 or 53-week period ending on the Friday nearest September 30. Fiscal year 2020 is the 53-week period ending October 2, 2020 . Fiscal year 2019 was the 52-week period that ended on September 27, 2019 . The fiscal quarters ended January 3, 2020 and December 28, 2018 were 14-week and 13-week periods, respectively. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Such estimates include the valuation of inventories, goodwill and intangible assets, impairment on investments, and taxes on earnings. Actual results could differ from these estimates. Restricted Cash Restricted cash primarily consists of cash collateral related to certain leases and inventory arrangements. Restricted cash is included in other assets on the condensed consolidated balance sheet. Cash and cash equivalents and restricted cash as reported within the condensed consolidated statements of cash flows consisted of the following: Three Months Ended January 3, 2020 Three Months Ended December 28, 2018 Beginning of Period End of Period Beginning of Period End of Period Cash and cash equivalents $ 29.9 $ 30.0 $ 51.9 $ 55.1 Restricted cash 1.4 1.4 1.5 1.4 Cash and cash equivalents and restricted cash as reported per statement of cash flows $ 31.3 $ 31.4 $ 53.4 $ 56.5 Concentration of Risk Financial instruments that potentially expose the Company to concentrations of credit risk consist principally of cash, cash equivalents and trade accounts receivable. Cash held with financial institutions may exceed the Federal Deposit Insurance Corporation insurance limits or similar limits in foreign jurisdictions. The Company has not experienced any losses on its deposits of cash and cash equivalents. The Company performs ongoing credit evaluations of its customers and, except for government tenders, group purchases and orders with a letter of credit, its industrial customers often provide a down payment. The Company maintains an allowance for doubtful accounts based upon the expected collectability of all accounts receivable. The Company obtains some of the components in its products from a limited group of suppliers or from a single-source supplier. The Company has neither experienced nor expects any significant disruptions to its operations due to supplier concentration. Credit is extended to customers based on an evaluation of the customer’s financial condition, and collateral is not required. During the periods presented, one of the Company's Medical segment customers accounted for a significant portion of revenues, as follows: Three Months Ended January 3, 2020 December 28, 2018 Canon Medical Systems Corporation 18.8% 18.3% Canon Medical Systems Corporation accounted for 14.5% and 10.1% of the Company’s accounts receivable as of January 3, 2020 and September 27, 2019 , respectively. Loss Contingencies From time to time, the Company is a party to or otherwise involved in legal proceedings, claims and government inspections or investigations, customs and duties audits, other contingency matters, both inside and outside the United States, arising in the ordinary course of its business or otherwise. The Company accrues amounts for probable losses, to the extent they can be reasonably estimated, that it believes are adequate to address any liabilities related to legal proceedings and other loss contingencies that the Company believes will result in a probable loss (including, among other things, probable settlement value). A loss or a range of loss is disclosed when it is reasonably possible that a material loss will be incurred and can be estimated or when it is reasonably possible that the amount of a loss, when material, will exceed the recorded provision. Product Warranty The Company warrants most of its products for a specific period of time, usually 12 to 24 months from delivery or acceptance, against material defects. The Company provides for the estimated future costs of warranty obligations in cost of revenues when the related revenues are recognized. The accrued warranty costs represent the best estimate at the time of sale of the total costs that the Company will incur to repair or replace product parts that fail while still under warranty. The amount of the accrued estimated warranty costs obligation for established products is primarily based on historical experience as to product failures adjusted for current information on repair costs. For new products, the Company bases warranty estimates on historical experience for similar products and adds a reasonable allowance for warranty expenses associated with new products. On a quarterly basis, the Company reviews the accrued warranty costs and updates the historical warranty cost trends, if required. The following table reflects the changes in the Company’s accrued product warranty: Three Months Ended (In millions) January 3, 2020 December 28, 2018 Accrued product warranty, at beginning of period $ 8.1 $ 7.3 Charged to cost of revenues 4.1 2.0 Product warranty expenditures (3.2 ) (2.7 ) Accrued product warranty, at end of period $ 9.0 $ 6.6 Leases The Company determines if an arrangement is or contains a lease at the inception of an arrangement. The Company's operating lease right-of-use ("ROU") assets represents the right to use an underlying asset over the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. ROU assets may also include initial direct costs incurred and prepaid lease payments, less lease incentives. Lease liabilities and their corresponding ROU assets are recognized based on the present value of lease payments over the lease term, discounted using the Company's incremental borrowing rate ("IBR"). The Company recognizes operating leases with lease terms of more than twelve months in operating lease assets, current operating lease liabilities, and operating lease liabilities on its condensed consolidated balance sheets. The Company recognizes finance leases with lease terms of more than twelve months in property, plant, and equipment, net, accrued liabilities and other current liabilities, and other long-term liabilities on its condensed consolidated balance sheets. For purposes of calculating lease liabilities and the corresponding ROU assets, the Company's lease term may include options to extend or terminate the lease when it is reasonably certain that it will exercise that option. Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (the"FASB") issued Accounting Standards Update ("ASU") No. 2016-02, Leases ("Topic 842"), referred to as ASC 842. The purpose of ASC 842 is to increase the transparency and comparability among organizations by recognizing lease assets and liabilities on the balance sheet, including those previously classified as operating leases under U.S. GAAP, and disclosing key information about leasing arrangements. ASC 842, as amended, is effective for public entities for annual periods beginning after December 15, 2018, including interim periods within those annual periods and is effective for the Company in fiscal year 2020. The Company adopted the standard using the transition method provided by ASC Update No. 2018-11, Leases ("Topic 842"): Targeted Improvements. Under this method, the Company applied the new leasing rules on September 28, 2019 , rather than at the earliest comparative period presented in the financial statements. Prior periods were presented in accordance with the existing lease guidance under ASC 840. Upon transition, the Company applied the package of practical expedients permitted under ASC 842 transition guidance to its entire lease portfolio at September 28, 2019. As a result, the Company was not required to reassess (i) whether any expired or existing contracts are or contain leases, (ii) the classification of any expired or existing leases, and (iii) initial direct costs for any existing leases. Also, the Company applied the hindsight practical expedient. Furthermore, as a lessee the Company elected to combine lease and non-lease components for the majority of its leases, which means that the Company accounted for each separate lease component and the non-lease components associated with that lease component as a single lease component. The only asset class that did not combine lease and non-lease components were vehicle leases. The most significant impact of the standards for the Company relate to the recognition of the right-of-use assets and lease liabilities for the operating leases in the balance sheet. Upon adoption of the new lease standard, the Company recognized operating lease right-of-use assets and finance lease right-of-use assets of $26.8 million and $0.6 million , respectively, and corresponding operating lease liabilities and finance lease liabilities of $27.5 million and $0.6 million , respectively. This includes the recording of the Company’s existing capital leases as finance leases at transition. The cumulative impact of adoption was a $0.3 million decrease to retained earnings. Refer to Note 3 , Leases, for a detailed impact of adopting this standard and its impact on the consolidated financial statements and related disclosures. In February 2018, the FASB issued ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income , which provides the option to reclassify certain income tax effects related to the Tax Cuts and Jobs Act passed in December of 2017 between accumulated other comprehensive income and retained earnings and also requires additional disclosures. The amendments in this ASU are effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Effective September 28, 2019 , the Company adopted ASU 2018-02 and it did not have a material effect on the Company’s financial statements and related disclosures. Recent Accounting Standards or Updates Not Yet Effective In December 2019, the FASB issued ASU 2019-12 which simplifies the accounting for income taxes by removing certain exceptions to the current guidance, and improving the consistent application of and simplification of other areas of the guidance. The standard is effective for the Company beginning in the first quarter of fiscal year 2022. Early adoption is permitted. The Company is evaluating the impact of adopting this guidance to its condensed consolidated financial statements. In January 2017, the FASB issued ASU 2017-04 which clarified its guidance to simplify the measurement of goodwill by eliminating the Step 2 impairment test. The new guidance requires companies to perform the goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. The amendment will be effective for the Company beginning in its first quarter of fiscal year 2021. The amendment is required to be adopted prospectively. Early adoption is permitted. The Company is evaluating the impact of adopting this amendment to its condensed consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, "Measurement of Credit Losses on Financial Instruments." This ASU replaces the incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. In addition, the ASU requires new disclosures. This standard will be effective for the Company's interim and annual periods beginning with the first quarter of fiscal 2021 and must be applied on a modified retrospective basis. The Company is evaluating the potential impact of this standard to its condensed consolidated financial statements.

REVENUE RECOGNITION

REVENUE RECOGNITION	3 Months Ended
	Jan. 03, 2020
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION The Company’s revenues are derived primarily from the sale of hardware and services. The Company recognizes its revenues net of any value-added or sales tax and net of sales discounts. The Company accounts for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers . The Company sells a high proportion of its X-ray products to a limited number of OEM customers. X-ray tubes, digital detectors and image-processing tools and security and inspection products are generally sold on a stand-alone basis. However, the Company occasionally sells its digital detectors, X-ray tubes and imaging processing tools as a package that is optimized for digital X ray imaging and sells its Linatron ® X-ray accelerators together with its imaging processing software and image detection products to OEM customers that incorporate them into their inspection systems. Service contracts are often sold with certain security and inspection products and computer-aided detection products. Transaction price and allocation to performance obligations Transaction prices of products or services are typically based on contracted rates. To the extent that the transaction price includes variable consideration, the Company estimates the amount of variable consideration that should be included in the transaction price utilizing the expected value method when there is a large number of transactions with similar characteristics or the most likely amount method when there are two possible outcomes, depending on the circumstances of the transaction , to which the Company expects to be entitled. Variable consideration is included in the transaction price if, in the Company’s judgment, it is probable that a significant future reversal of cumulative revenue under the contract will not occur. Estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of the Company’s anticipated performance and all information (historical, current and forecasted) that is reasonably available. The Company allows customers to return specific parts of purchased X-ray tubes for a partial refund credit, which is identified as variable consideration. ASC 606-10-55-23 requires that for sales with a right of return, revenue is reduced for expected returns, a liability is recorded for expected returns, and an asset is recorded for the right to recover products from customers on settling the liability. The Company recognizes a reduction to revenue and cost of sales at the time of sale and a corresponding contract liability and contract asset. The Company records this estimate based on the historical volume of product returns and adjusts the estimate on a quarterly basis based on the current quarter sales and current quarter returns. If a contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price based on the estimated relative standalone selling prices of the promised products or services underlying each performance obligation. The Company determines standalone selling prices based on the price at which the performance obligation is sold separately. Contracts and performance obligations The Company accounts for a contract with a customer when there is an approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of the consideration is probable. The Company's performance obligations consist mainly of transferring control of products and services identified in the contracts or purchase orders. For each contract, the Company considers the obligation to transfer products and services to the customer, which are distinct, to be performance obligations. Revenue recognition Revenue is recognized when, or as, obligations under the terms of a contract are satisfied, which occurs when control of the promised products or services is transferred to customers. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products or services to a customer. Product revenue is generally recognized when the customer obtains control of the Company’s product, which occurs at a point in time, and may be upon shipment or upon delivery based on the contractual shipping terms of a contract. Service revenue is generally recognized over time as the services are rendered to the customer based on the extent of progress towards completion of the performance obligation. The Company recognizes service revenue over the term of the service contract. Services are expected to be transferred to the customer throughout the term of the contract and the Company believes recognizing revenue ratably over the term of the contract best depicts the transfer of value to the customer. Disaggregation of Revenue Revenue is disaggregated from contracts between geography and by reportable operating segment, which the Company believes best depicts how the nature, amount, timing, and uncertainty of revenues and cash flows are affected by economic factors. The following table disaggregates the Company’s revenue by geographic region: Three Months Ended (In millions) January 3, 2020 December 28, 2018 Americas $ 70.3 $ 68.4 EMEA 65.2 62.6 APAC 64.6 54.7 $ 200.1 $ 185.7 Revenue in the United States of America was $68.9 million and $67.2 million for the three months ended January 3, 2020 and December 28, 2018 , respectively. Refer to Note 16 , Segment Information , for the disaggregation of the Company’s revenue based on reportable operating segments. Contract Balances Contract assets are included within the prepaid expenses and other current assets, and other assets balances. Contract liabilities, which also includes refund obligations are included within the accrued liabilities and other current liabilities, deferred revenues, and other long-term liabilities balances. The following table summarizes the changes in the contract assets and refund liabilities for the three months ended January 3, 2020 : (In millions) Contract Assets Balance at September 28, 2019 $ 23.7 Costs recovered from product returns during the period (0.8 ) Contract asset from shipments of products, subject to return during the period 1.6 Balance at January 3, 2020 $ 24.5 (In millions) Refund Liabilities Balance at September 28, 2019 $ 26.4 Release of refund liability included in beginning of year refund liability (0.9 ) Additions to refund liabilities 1.7 Balance at January 3, 2020 $ 27.2 Remaining Performance Obligations Remaining performance obligations represent the transaction price of firm orders for which revenue has not yet been recognized. As of January 3, 2020 , total remaining performance obligations amounted to $268.3 million . The Company expects to recognize the remaining performance obligations over the next 12 months . Costs to Obtain or Fulfill a Customer Contract The Company has certain costs to obtain and fulfill a customer contract, such as commissions and shipping costs. The Company recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that the Company otherwise would have recognized is one year or less. Incremental costs of obtaining contracts that would be recognized over greater than one year are not material. The Company accounts for shipping and handling activities related to contracts with customers as costs to fulfill the promise to transfer the associated products. These costs are included as a component of cost of revenues.

LEASES

LEASES	3 Months Ended
	Jan. 03, 2020
Leases [Abstract]
Leases	LEASES On September 28, 2019, the Company adopted a new accounting standard that amends the guidance for the accounting and reporting of leases. The determination of whether an arrangement is, or contains, a lease is performed at the inception of the arrangement. The Company has operating and finance leases for office space, warehouse and manufacturing space, vehicles and certain equipment. The Company's lease agreements do not contain any material residual value guarantees, variable lease costs, bargain purchase options or restrictive covenants. The Company does not have any lease transactions with related parties. Leases with an initial term of 12 months or less are generally not recorded on the balance sheet and expense for these leases is recognized on a straight-line basis over the lease term. The Company's leases have remaining lease terms of one year to approximately five years , some of which may include options to extend the leases for up to six years and some include options to terminate early. These options have been included in the determination of the lease liability when it is reasonably certain that the option will be exercised. Right-of-use assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease contract. Operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of fixed lease payments over the expected lease term. The interest rate implicit in lease contracts is typically not readily determinable. As such, our incremental borrowing rate is based on a credit-adjusted risk-free rate, which best approximates a secured rate over a similar term of lease. The following table presents supplemental balance sheet information related to the Company's operating and finance leases: January 3, 2020 (In millions) Balance Sheet Location Operating Leases Finance Leases Assets Operating lease right-of-use assets Operating lease assets $ 25.1 $ — Finance lease right-of-use assets Property, plant and equipment, net $ — $ 0.6 Liabilities Operating lease liabilities (current) Current operating lease liabilities $ 6.7 $ — Finance lease liabilities (current) Accrued liabilities and other current liabilities $ — $ 0.2 Operating lease liabilities (non-current) Operating lease liabilities $ 19.2 $ — Finance lease liabilities (non-current) Other long-term liabilities $ — $ 0.4 The following table presents the weighted average remaining lease term and discount rate information related to the Company's operating and finance leases: January 3, 2020 Operating Leases Finance Leases Weighted average remaining lease term (in years) 5.2 3.0 Weighted average discount rate 4.2 % 3.8 % The following table provides information related to the Company’s operating and finance leases: (In millions) Three Months Ended January 3, 2020 Total operating lease costs (a) $ 2.1 Total finance lease costs $ 0.1 Operating cash flows from operating leases $ 2.0 Financing cash flows from finance leases 0.1 Total cash paid for amounts included in the measurement of lease liabilities $ 2.1 (a) Includes variable and short-term lease expense, which were immaterial for the three months ended January 3, 2020 . As of January 3, 2020 , maturities of operating lease and finance lease liabilities for each of the following five years and a total thereafter were as follows: (In millions) Fiscal years: Operating Leases Finance Leases 2020 remaining $ 5.8 $ 0.2 2021 6.5 0.2 2022 5.6 0.1 2023 3.3 0.1 2024 2.5 — Thereafter 5.3 — Total future lease payments $ 29.0 $ 0.6 Less: imputed interest (3.2 ) — Present value of lease liabilities 25.8 0.6 At September 27, 2019 , the Company was committed to minimum rentals under non-cancelable operating leases (including rent escalation clauses) for fiscal years 2020 through 2024 and therea fter, as follows: $7.5 million , $5.4 million , $4.7 million , $1.8 million , $0.9 million , and $0.2 million
Leases	LEASES On September 28, 2019, the Company adopted a new accounting standard that amends the guidance for the accounting and reporting of leases. The determination of whether an arrangement is, or contains, a lease is performed at the inception of the arrangement. The Company has operating and finance leases for office space, warehouse and manufacturing space, vehicles and certain equipment. The Company's lease agreements do not contain any material residual value guarantees, variable lease costs, bargain purchase options or restrictive covenants. The Company does not have any lease transactions with related parties. Leases with an initial term of 12 months or less are generally not recorded on the balance sheet and expense for these leases is recognized on a straight-line basis over the lease term. The Company's leases have remaining lease terms of one year to approximately five years , some of which may include options to extend the leases for up to six years and some include options to terminate early. These options have been included in the determination of the lease liability when it is reasonably certain that the option will be exercised. Right-of-use assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease contract. Operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of fixed lease payments over the expected lease term. The interest rate implicit in lease contracts is typically not readily determinable. As such, our incremental borrowing rate is based on a credit-adjusted risk-free rate, which best approximates a secured rate over a similar term of lease. The following table presents supplemental balance sheet information related to the Company's operating and finance leases: January 3, 2020 (In millions) Balance Sheet Location Operating Leases Finance Leases Assets Operating lease right-of-use assets Operating lease assets $ 25.1 $ — Finance lease right-of-use assets Property, plant and equipment, net $ — $ 0.6 Liabilities Operating lease liabilities (current) Current operating lease liabilities $ 6.7 $ — Finance lease liabilities (current) Accrued liabilities and other current liabilities $ — $ 0.2 Operating lease liabilities (non-current) Operating lease liabilities $ 19.2 $ — Finance lease liabilities (non-current) Other long-term liabilities $ — $ 0.4 The following table presents the weighted average remaining lease term and discount rate information related to the Company's operating and finance leases: January 3, 2020 Operating Leases Finance Leases Weighted average remaining lease term (in years) 5.2 3.0 Weighted average discount rate 4.2 % 3.8 % The following table provides information related to the Company’s operating and finance leases: (In millions) Three Months Ended January 3, 2020 Total operating lease costs (a) $ 2.1 Total finance lease costs $ 0.1 Operating cash flows from operating leases $ 2.0 Financing cash flows from finance leases 0.1 Total cash paid for amounts included in the measurement of lease liabilities $ 2.1 (a) Includes variable and short-term lease expense, which were immaterial for the three months ended January 3, 2020 . As of January 3, 2020 , maturities of operating lease and finance lease liabilities for each of the following five years and a total thereafter were as follows: (In millions) Fiscal years: Operating Leases Finance Leases 2020 remaining $ 5.8 $ 0.2 2021 6.5 0.2 2022 5.6 0.1 2023 3.3 0.1 2024 2.5 — Thereafter 5.3 — Total future lease payments $ 29.0 $ 0.6 Less: imputed interest (3.2 ) — Present value of lease liabilities 25.8 0.6 At September 27, 2019 , the Company was committed to minimum rentals under non-cancelable operating leases (including rent escalation clauses) for fiscal years 2020 through 2024 and therea fter, as follows: $7.5 million , $5.4 million , $4.7 million , $1.8 million , $0.9 million , and $0.2 million

BUSINESS COMBINATION

BUSINESS COMBINATION	3 Months Ended
	Jan. 03, 2020
Business Combinations [Abstract]
BUSINESS COMBINATION	BUSINESS COMBINATION On April 29, 2019 , Varex completed the acquisition of 98.2% of the outstanding shares of common stock of Direct Conversion AB (publ) (“Direct Conversion”) for $69.5 million in cash, net of cash acquired, the assumption of Direct Conversion's debt of $4.5 million and deferred consideration equal to $9.9 million or 0.3 million shares of the Company’s common stock (subject to reduction to settle indemnity claims) to be paid on the first anniversary of the closing with a mixture of cash and shares of Varex common stock. The acquisition of Direct Conversion expands our detector product portfolio to include photon counting technology. This technology will allow Varex to expand its range of imaging applications and offer new solutions to both Medical and Industrial customers. The following table summarizes the preliminary purchase price allocation: (In millions) Fair Value Allocation of the purchase consideration: Accounts receivable $ 2.4 Inventories 5.7 Prepaid expenses and other current assets 0.7 Property, plant, and equipment 0.9 Goodwill 47.2 Intangible assets 32.9 Total assets acquired $ 89.8 Accounts payable $ (1.0 ) Accrued liabilities and other current liabilities (1.5 ) Current maturities of long-term debt (1.0 ) Deferred revenues (0.9 ) Long-term debt (3.5 ) Other long-term liabilities (1.1 ) Total liabilities assumed $ (9.0 ) Noncontrolling interest $ (1.4 ) Net assets acquired, less noncontrolling interest $ 79.4 Net cash paid $ 69.5 Deferred consideration 9.9 Total consideration $ 79.4 The Company recorded the assets acquired and liabilities assumed at their preliminary estimated fair values. Intangibles were valued primarily using a discounted cash flow, which included estimated revenue growth and discount rate. Due to the complexity of this transaction as of January 3, 2020, the Company had not finalized the determination of the fair values allocated to various assets and liabilities, including, but not limited to, deferred tax assets and liabilities; intangible assets and the residual amount allocated to goodwill. The fair value assigned to goodwill is primarily attributable to expected synergies. The goodwill related to the Direct Conversion acquisition is not tax deductible. The following amounts represent the determination of the fair value and estimated weighted average useful lives of identifiable intangible assets for the Direct Conversion, which are amortized straight-line: (In millions) Fair Value Estimated Weighted Average Backlog $ 0.2 1 Trade names 2.5 5 Developed technology 18.4 10 In-process research and development 2.8 indefinite Customer relationships 9.0 10 Total intangible assets acquired $ 32.9 The acquisition of Direct Conversion did not have a significant impact on our consolidated results of operations on a pro forma basis for the prior year period. During the first quarter of fiscal year 2020, the Company made a $1.2 million acquisition to enhance our X-ray tube development and manufacturing operations.

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	3 Months Ended
	Jan. 03, 2020
Related Party Transactions [Abstract]
RELATED-PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Investment in Privately-Held Companies The Company has a 40% ownership interest in dpiX Holding LLC (“dpiX Holding”), a four -member consortium that has a 100% ownership interest in dpiX LLC (“dpiX”), a supplier of amorphous silicon based thin film transistor arrays for digital flat panel image detectors. In accordance with the dpiX Holding operating agreement, net profits or losses are allocated to the members in accordance with their ownership interests. The equity investment in dpiX Holding is accounted for under the equity method of accounting. When the Company recognizes its share of net profits or losses of dpiX Holding, profits or losses in inventory purchased from dpiX are eliminated. During the three months ended January 3, 2020 and December 28, 2018 , the Company recorded (loss) and income on the equity investment in dpiX Holding of $0.9 million and $(0.7) million , respectively. Income and loss on the equity investment in dpiX Holding is included in other expense, net in the condensed consolidated statements of earnings. The carrying value of the equity investment in dpiX Holding was $48.5 million and $48.1 million at January 3, 2020 and September 27, 2019 , respectively. During the three months ended January 3, 2020 and December 28, 2018 , the Company purchased glass transistor arrays from dpiX totaling $5.9 million and $2.8 million , respectively. These purchases of glass transistor arrays are included as a component of inventories on the condensed consolidated balance sheets or cost of revenues in the condensed consolidated statements of earnings. As of January 3, 2020 , and September 27, 2019 , the Company had accounts payable to dpiX totaling $3.4 million and $3.6 million , respectively. In October 2013, the Company entered into an amended agreement with dpiX and other parties that, among other things, provides the Company with the right to 50% of dpiX’s total manufacturing capacity produced after January 1, 2014. The amended agreement requires the Company to pay for 50% of the fixed costs (as defined in the amended agreement), as determined at the beginning of each calendar year. As of January 3, 2020 , the Company had no remaining fixed cost commitments related to the agreement remaining for calendar year 2019. In January 2020, the fixed cost commitment was determined and approved by the dpiX board of directors to be $12.7 million for calendar year 2020. The amended agreement will continue unless the ownership structure of dpiX changes as provided in the amended agreement. The Company has determined that dpiX is a variable interest entity because at-risk equity holders, as a group, lack the characteristics of a controlling financial interest. Majority votes are required to direct the manufacturing activities, legal operations and other activities that most significantly affect dpiX’s economic performance. The Company does not have majority voting rights and no power to direct the activities of dpiX and therefore is not the primary beneficiary of dpiX. The Company’s exposure to loss as a result of its involvement with dpiX is limited to the carrying value of the Company’s investment of $48.5 million and fixed cost commitments. In November 2018, the Company and CETTEEN GmbH (“CETTEEN”), formed a German limited liability company that governs the affairs and conduct of the business of VEC Imaging Verwaltungsgesellschaft GmbH (“VEC”), a joint venture formed to develop technology for use in X-ray imaging components. In accordance with the VEC agreement, net profits or losses are allocated to the members in accordance with their ownership interest. The Company's investment in VEC is accounted for under the equity method. As of January 3, 2020 , the Company has made contributions totaling $4.2 million , and has committed to contribute an additional $ 1.1 million as milestones are achieved, and to provide certain full-time employees to support prototyping and manufacturing activities in exchange for a 50% interest in VEC. CETTEEN made contributions of certain assets including intellectual property in exchange for a 50% interest in VEC. The Company's investment in VEC was $3.0 million and $2.0 million at January 3, 2020 and September 27, 2019 , respectively .

RESTRUCTURING

RESTRUCTURING	3 Months Ended
	Jan. 03, 2020
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING In July 2018, the Company committed to a plan to relocate the production of amorphous silicon glass for digital detectors, from its Santa Clara facility, to the jointly owned dpiX fabrication facility in Colorado. In July 2019, the Company committed to close its Santa Clara facility and to relocate the remaining production to its other existing facilities. The Company expects operations at the Santa Clara facility to cease by the end of September 2020 and all activities related to the closure of the facility to be complete by the end of December 2020. In connection with the relocation of the glass production and site closure the Company recorded $0.8 million and $5.1 million for the three months ended January 3, 2020 and December 28, 2018 , respectively. The Company expects to incur an additional $7.3 million to $11.3 million of restructuring charges through December 2020. Cash outflows associated with these restructuring charges are limited to employee termination expenses, facility closure and equipment sales and disposals. Below is a detail of restructuring charges incurred during the three months ended January 3, 2020 and December 28, 2018 , respectively, which predominately relate to the Company's Medical segment: Three Months Ended (In millions) Location of Restructuring Charges in Consolidated Statements of Earnings January 3, 2020 December 28, 2018 Accelerated depreciation Cost of revenues $ 0.3 $ 4.2 Severance costs Selling, general and administrative 0.5 0.9 Total restructuring charges $ 0.8 $ 5.1

FINANCIAL DERIVATIVES AND HEDGI

FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES	3 Months Ended
	Jan. 03, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES	FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES As part of the Company’s overall risk management practices, the Company enters into financial derivatives to manage its financial exposures to foreign currency exchange rates and interest rates. The Company records all derivatives on the consolidated balance sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting, and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. A qualitative assessment of hedge effectiveness is performed on a quarterly basis, unless facts and circumstances indicate the hedge may no longer be highly effective. The changes in fair value for all trades that are not designated for hedge accounting are recognized in current period earnings. The Company does not offset fair value amounts recognized for derivative instruments in its consolidated balance sheets for presentation purposes. Credit risk related to derivative transactions reflects the risk that a party to the transaction could fail to meet its obligation under the derivative contracts. Therefore, the Company’s exposure to the counterparty’s credit risk is generally limited to the amounts, if any, by which the counterparty’s obligations to the Company exceed the Company’s obligations to the counterparty. The Company’s policy is to enter into contracts only with financial institutions which meet certain minimum credit ratings to help mitigate counterparty credit risk. Derivatives Designated as Hedging Instruments - Cash Flow Hedges The Company uses interest rate swap contracts as cash flow hedges to manage its exposure to fluctuations in LIBOR interest rates. Interest rate swap contracts hedging variable rate debt effectively fix the LIBOR component of its interest rate for a specific period of time. As of January 3, 2020 , the Company had the following outstanding derivatives designated as hedging instruments: (In millions, except for number of instruments) Number of Instruments Notional Value Interest Rate Swap Contracts 6 $ 253.1 The following table summarizes the amount of pre-tax earnings recognized from derivative instruments for the periods indicated and the line items in the accompanying statements of operations where the results are recorded for cash flow hedges: Amount of Gain (Loss) Recognized in OCI on Derivative Location of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (In millions) January 3, 2020 December 28, 2018 January 3, 2020 December 28, 2018 Interest Rate Swap Contracts $ — $ (2.5 ) Interest expense $ — $ 0.4 The Company expects that approximately $(0.3) million of the accumulated other comprehensive (loss) income related to cash flow hedges will be realized in pre-tax earnings over the next 12 months, but the amount will vary depending on interest rates. These derivative instruments are subject to master netting agreements giving effect to rights of offset with each counterparty. The following table summarizes the fair values of derivative instruments as of the periods indicated and the line items in the accompanying consolidated balance sheets where the instruments are recorded: (In millions) Derivative Assets and Liabilities Derivatives designated as cash flow hedges Balance sheet location January 3, 2020 September 27, 2019 Interest rate swap contracts Accrued liabilities and other current liabilities $ (0.3 ) $ — Interest rate swap contracts Other long-term liabilities (0.2 ) (0.5 ) $ (0.5 ) $ (0.5 ) Derivatives Designated as Hedging Instruments - Net Investment Hedges The Company uses cross currency swap contracts as net investment hedges to manage its risk of variability in foreign currency-denominated net investments in wholly owned international operations. All changes in fair value of the derivatives designated as net investment hedges are reported in accumulated other comprehensive (loss) income along with the foreign currency translation adjustments on those investments. As of January 3, 2020 , the Company had the following outstanding derivatives designated as net investment hedging instruments: (In millions, except for number of instruments) Number of Instruments Notional Value Cross Currency Swap Contracts 4 $ 77.7 The following table summarizes the amount of pre-tax earnings recognized from derivative instruments for the periods indicated and the line items in the accompanying statements of operations where the results are recorded for net investment hedges: Amount of Gain (Loss) Recognized in OCI on Derivative Location of Gain or (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) Amount of Gain or (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) (In millions) January 3, 2020 December 28, 2018 January 3, 2020 December 28, 2018 Cross Currency Swap Contracts $ (0.8 ) $ — Interest expense $ 0.4 $ — These derivative instruments are subject to master netting agreements giving effect to rights of offset with each counterparty. None of the balances were eligible for netting. The following table summarizes the gross fair values of derivative instruments as of the periods indicated and the line items in the accompanying consolidated balance sheets where the instruments are recorded: (In millions) Derivative Assets and Liabilities Derivatives designated as net investment hedges Balance sheet location January 3, 2020 September 27, 2019 Cross Currency Swap Contracts Other current assets $ 1.3 $ — Cross Currency Swap Contracts Other long-term liabilities (2.2 ) — $ (0.9 ) $ — Balance Sheet Hedges The Company’s foreign currency management objective is to mitigate the potential impact of currency fluctuations on the value of its U.S. dollar cash flows and to reduce the variability of certain cash flows at the subsidiary level. These forward contracts are not designated for hedge accounting treatment, therefore, the change in fair value of these derivatives is recorded as a component of other income (expense) and offsets the change in fair value of the foreign currency denominated assets and liabilities, which are also recorded in other income (expense). The Company does not and does not intend to use derivative financial instruments for speculative or trading purposes. The following table shows the notional amounts of outstanding foreign currency contracts as of January 3, 2020 : Notional Value of Derivatives not Designated as Hedging Instruments: (In millions) Buy contracts Sell contract Japanese yen $ 2.3 $ — Swiss franc — (1.0 ) Chinese renminbi 1.7 — Euro — (3.4 ) $ 4.0 $ (4.4 )

FAIR VALUE

FAIR VALUE	3 Months Ended
	Jan. 03, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE	FAIR VALUE Assets/Liabilities Measured at Fair Value on a Recurring Basis In the tables below, the Company has segregated all assets and liabilities that are measured at fair value on a recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date. Fair Value Measurements at January 3, 2020 (In millions) Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Significant Unobservable Inputs Total Assets: Cash equivalents - Money market funds $ — $ 4.7 $ — $ 4.7 Derivative assets — 1.3 — 1.3 Total assets measured at fair value $ — $ 6.0 $ — $ 6.0 Liabilities: Derivative liabilities $ — $ 2.7 $ — $ 2.7 Deferred consideration 9.7 — — 9.7 Total liabilities measured at fair value $ 9.7 $ 2.7 $ — $ 12.4 As of January 3, 2020 , the outstanding borrowings under the Company's credit agreement were $381.3 million , net of deferred loan costs, which approximated its fair value. The fair values of certain of the Company’s financial instruments, including bank deposits included in cash and cash equivalents, accounts receivable and accounts payable, also approximate their fair values due to their short maturities. The Company has elected to use the income approach to value its derivative instruments using standard valuation techniques and Level 2 inputs, such as currency spot rates, forward points and credit default swap spreads. There were no financial assets or liabilities measured on a recurring basis using significant unobservable inputs (Level 3) and there were no transfers in or out of Level 1, 2 or 3 during the three months ended January 3, 2020 . At September 27, 2019 , the Company determined the following levels of inputs at fair value for the following assets or liabilities: Fair Value Measurements at September 27, 2019 (In millions) Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Significant Unobservable Inputs Total Assets: Cash equivalents - Money market funds $ — $ 8.8 $ — $ 8.8 Total assets measured at fair value $ — $ 8.8 $ — $ 8.8 Liabilities: Derivative liabilities $ — $ 0.7 $ — $ 0.7 Deferred Consideration 8.9 — — 8.9 Total liabilities measured at fair value $ 8.9 $ 0.7 $ — $ 9.6

INVENTORIES

INVENTORIES	3 Months Ended
	Jan. 03, 2020
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES The following table summarizes the Company’s inventories: (In millions) January 3, 2020 September 27, 2019 Raw materials and parts $ 184.2 $ 160.1 Work-in-process 27.6 27.9 Finished goods 57.3 60.2 Total inventories $ 269.1 $ 248.2

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	3 Months Ended
	Jan. 03, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS The following table reflect goodwill by reportable operating segment: (In millions) Medical Industrial Total Balance at September 27, 2019 $ 173.0 $ 117.8 $ 290.8 Balance at January 3, 2020 $ 173.0 $ 117.8 $ 290.8 The following table reflects the gross carrying amount and accumulated amortization of the Company’s finite-lived intangible assets included in other assets in the condensed consolidated balance sheets: January 3, 2020 September 27, 2019 (In millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired existing technology $ 74.1 $ (30.8 ) $ 43.3 $ 74.1 $ (28.4 ) $ 45.7 Patents, licenses and other 12.7 (8.7 ) 4.0 12.7 (8.4 ) 4.3 Customer contracts and supplier relationship 50.7 (19.0 ) 31.7 50.7 (17.2 ) 33.5 Total intangible assets with finite lives 137.5 (58.5 ) 79.0 137.5 (54.0 ) 83.5 In-process R&D with indefinite lives 2.8 0.0 2.8 2.8 0.0 2.8 Total intangible assets $ 140.3 $ (58.5 ) $ 81.8 $ 140.3 $ (54.0 ) $ 86.3 Amortization expense for intangible assets was $4.5 million and $3.7 million for the three months ended January 3, 2020 and December 28, 2018

BORROWINGS

BORROWINGS	3 Months Ended
	Jan. 03, 2020
Debt Disclosure [Abstract]
BORROWINGS	BORROWINGS The following table summarizes the Company's short-term and long-term debt: January 3, 2020 September 27, 2019 $ Change (In millions, except for percentages) Amount Weighted-Average Interest Rate Amount Weighted-Average Interest Rate Current maturities of long-term debt Term facility $ 29.4 5.3 % $ 29.4 5.6 % $ — Other debt 1.0 1.3 (0.3 ) Total current maturities of long-term debt $ 30.4 $ 30.7 $ (0.3 ) Non-current maturities of long-term debt: Revolving credit facility $ 52.0 5.3 % $ 59.0 5.6 % $ (7.0 ) Term facility 301.1 5.3 % 308.6 5.6 % (7.5 ) Other debt 2.6 2.5 0.1 Debt issuance costs (4.8 ) (5.7 ) 0.9 Non-current maturities of long-term debt 350.9 364.4 (13.5 ) Total long-term debt, net $ 381.3 $ 395.1 $ (13.8 ) Existing Credit Facility On May 1, 2017 Varex entered into a new secured revolving credit facility (the “Revolving Credit Facility”) in an aggregate principal amount of up to $200 million with a term of five years , and a secured term facility (the “Term Facility” and together with the Revolving Credit Facility, the “Credit Agreement”) in an aggregate principal amount of $400 million , which is subsequently amended. The Company reduced the Revolving Credit Facility to $150 million on October 3, 2018 and to $125 million on October 1, 2019. At January 3, 2020 , the Company had $73.0 million of the Revolving Credit Facility available for borrowings, subject to covenants contained in the Credit Agreement. The Term Facility will be repaid over five years , with 5.0% payable in quarterly installments during each of the first two years of the term thereof, 7.5% payable in quarterly installments during the third and fourth years of the term thereof, and 10% payable in quarterly installments in the fifth year of the term thereof, with the remaining amount due at maturity. Both the Term Facility and Revolving Credit Facility expire on May 1, 2022. The Credit Agreement contains various customary restrictive covenants that limits, among other things, the incurrence of indebtedness by Varex and its subsidiaries, the grant or incurrence of liens by Varex and its subsidiaries, the entry into sale and leaseback transactions by Varex and its subsidiaries, and the entry into certain fundamental change transactions by Varex and its subsidiaries. It also contains customary events of default and certain financial covenants. The Company agreed to maintain financial covenants, which include maximum consolidated total leverage ratio, maximum senior secured leverage ratio, maximum capital expenditures and a minimum consolidated fixed charge coverage ratio. The Company was in compliance with all financial covenants under the Credit Agreement as of January 3, 2020 . The Credit Agreement is secured by the stock and assets of Varex’s material subsidiaries. The Credit Agreement has several borrowing and interest rate options including the following indices: (a) LIBOR rate, or (b) the base rate (equal to the greater of the prime rate, the federal funds rate plus 0.50% or the LIBOR rate for a one-month period plus 1.00% ). Loans under the Credit Agreement bear interest at a rate per annum using the applicable indices plus a varying interest rate margin of between 1.75% and 2.75% (for LIBOR rate loans) and 0.75% - 1.75% (for base rate loans). The Credit Agreement also provides for fees applicable to amounts available to be drawn under outstanding letters of credit of 0.125% , and a fee on unused commitments which ranges from 0.25% to 0.40%

REDEEMABLE NONCONTROLLING INTER

REDEEMABLE NONCONTROLLING INTERESTS & NONCONTROLLING INTERESTS	3 Months Ended
	Jan. 03, 2020
Noncontrolling Interest [Abstract]
REDEEMABLE NONCONTROLLING INTERESTS & NONCONTROLLING INTERESTS	REDEEMABLE NONCONTROLLING INTERESTS & NONCONTROLLING INTERESTS In April 2019, a subsidiary of Varex completed the acquisition of 98.2% of the outstanding shares of common stock of Direct Conversion. As the Company has majority voting rights it has consolidated Direct Conversion's operations in its consolidated financial statements and recorded the noncontrolling interest. The noncontrolling interest related to Direct Conversion is included in noncontrolling interest in the equity section of the Company's consolidated balance sheet. Earnings representing the noncontrolling interest's portion of Direct Conversion's income from operations is included in the Company's consolidated statements of earnings. In September 2018, the Company entered into a partnership in Saudi Arabia. The Company has majority voting rights with an approximate 75% interest. Accordingly, the Company has consolidated the operations of the Saudi Arabia partnership in our consolidated financial statements and recorded the noncontrolling interests. The noncontrolling interest related to the partner’s 25% interest in the joint venture is included in noncontrolling interest in the equity section of the Company’s consolidated balance sheet. Earnings representing the noncontrolling partner's share of income from operations is included in the Company's consolidated statements of earnings. In April 2015, the Company completed the acquisition of 73.5% of the then outstanding shares of MeVis, a publicly traded company based in Bremen, Germany that provides image processing software and services for cancer screening. In August 2015, the Company, through one of its German subsidiaries, entered into a Domination and Profit and Loss Transfer Agreement (the “DPLTA”) with MeVis. In October 2015, the DPLTA became effective upon its registration at the local court of Bremen, Germany. Under the DPLTA, MeVis subordinates its management to the Company and undertakes to transfer all its annual profits and losses to the Company. In return, the DPLTA grants the noncontrolling shareholders of MeVis: (1) an annual recurring net compensation of €0.95 per MeVis share starting from January 1, 2015; and (2) a put right for their MeVis shares at €19.77 per MeVis share. Upon effectiveness of the DPLTA, the noncontrolling interests in MeVis became redeemable as a result of the put right and were reclassified to temporary equity. At January 3, 2020 , noncontrolling shareholders together held approximately 0.5 million shares of MeVis, representing 26.3% of the outstanding shares. Changes in redeemable noncontrolling interests were as follows: (In millions) Redeemable Noncontrolling Interests Noncontrolling Interest Balance at beginning of period, September 27, 2019 $ 10.5 $ 3.3 Net earnings attributable to noncontrolling interests 0.1 — Other, including foreign currency remeasurement 0.1 — Balance at end of period, January 3, 2020 $ 10.7 $ 3.3

NET (LOSS) EARNINGS PER SHARE

NET (LOSS) EARNINGS PER SHARE	3 Months Ended
	Jan. 03, 2020
Earnings Per Share [Abstract]
NET (LOSS) EARNINGS PER SHARE	NET (LOSS) EARNINGS PER SHARE Basic net (loss) earnings per common share is computed by dividing the net (loss) earnings for the period by the weighted average number of shares of common stock outstanding during the reporting period. Diluted net (loss) earnings per common share reflects the effects of potentially dilutive securities, which is computed by dividing net (loss) earnings by the sum of the weighted average number of common shares outstanding and dilutive common shares, which consists of shares underlying stock options, unvested stock awards and purchase rights granted under the employee stock purchase plan. A reconciliation of the numerator and denominator used in the calculation of basic and diluted net (loss) income per common share is as follows: Three Months Ended (In millions, except per share amounts) January 3, 2020 December 28, 2018 Net earnings attributable to Varex $ (1.3 ) $ 3.0 Weighted average shares outstanding - basic 38.5 38.1 Dilutive effect of potential common shares — 0.2 Weighted average shares outstanding - diluted 38.5 38.3 Net earnings per share attributable to Varex - basic $ (0.03 ) $ 0.08 Net earnings per share attributable to Varex - diluted $ (0.03 ) $ 0.08 Anti-dilutive shared based awards, excluded 1.7 2.1 The Company excludes potentially dilutive common shares (consisting of shares underlying stock options, unvested stock awards and purchase rights granted under the employee stock purchase plan) from the computation of diluted weighted average shares outstanding if the inclusion of the shares underlying these stock awards would be anti-dilutive to (loss) earnings per share. Because the Company incurred a net loss for the three months ended January 3, 2020

EMPLOYEE STOCK PLANS

EMPLOYEE STOCK PLANS	3 Months Ended
	Jan. 03, 2020
Share-based Payment Arrangement [Abstract]
EMPLOYEE STOCK PLANS	EMPLOYEE STOCK PLANS Share-Based Compensation Expense Share-based compensation expense recognized in the condensed consolidated statements of earnings is based on awards ultimately expected to vest. Share-based compensation expense includes expenses related to the Company’s direct employees. The table below summarizes the effect of recording the share-based compensation expense (which includes the option component of the employee stock purchase plan shares): Three Months Ended (In millions) January 3, 2020 December 28, 2018 Cost of revenues $ 0.3 $ 0.3 Research and development 0.6 0.5 Selling, general and administrative 2.3 1.8 Total share-based compensation expense $ 3.2 $ 2.6 Stock Option Activity The following table summarizes the activity for stock options under Varex’s 2017 Omnibus Stock Plan and 2017 Employee Stock Purchase Plan for the Company’s employees: Options Outstanding (In thousands, except per share amounts and the remaining term) Options Price Range Weighted Average Exercise Price Weighted Average Remaining Term (in years) Aggregate Intrinsic Value (1) Outstanding at September 27, 2019 2,269 $22.63 - $37.60 $ 30.60 Granted — — — Canceled, expired or forfeited (19 ) $22.84 - $37.10 30.99 Exercised (49 ) $22.84 - $22.84 22.84 Outstanding at January 3, 2020 2,201 $22.63 - $37.60 $ 30.77 3.92 $ 1,735.0 Exercisable at January 3, 2020 1,500 $22.63 - $37.60 $ 30.04 3.34 $ 1,735.0 (1) The aggregate intrinsic value represents the total pre-tax intrinsic value, which is computed based on the difference between the exercise price and the closing price of Varex common stock of $30.00 as of January 3, 2020 , the last trading date of the Company's first quarter, and which represents the amount that would have been received by the option holders had all option holders exercised their options and sold the shares received upon exercise as of that date. Restricted Stock Units The following table summarizes the activity for restricted stock units under Varex’s 2017 Omnibus Stock Plan for the Company’s employees: (In thousands, except per share amounts) Number of Shares Weighted Average Grant-Date Fair Value Balance at September 27, 2019 678 $ 33.18 Granted 3 26.78 Vested (2 ) 30.21 Canceled or expired (8 ) 33.49 Balance at January 3, 2020 671 $ 33.16

TAXES ON EARNINGS

TAXES ON EARNINGS	3 Months Ended
	Jan. 03, 2020
Income Tax Disclosure [Abstract]
TAXES ON EARNINGS	TAXES ON EARNINGS Three Months Ended January 3, 2020 December 28, 2018 Estimated effective tax rate 0.9 % 26.8 % The Company recognized an income tax benefit of $0.0 million and an income tax expense of $1.1 million for the three months ended January 3, 2020 and December 28, 2018 , respectively, for effective rates of 0.9% and 26.8% , respectively. The Company's effective tax rate for the three months ended January 3, 2020 , decreased primarily due to losses in certain jurisdictions for which no benefit can be recorded due to full valuation allowance positions and a nearly equivalent overall pre-tax book loss. As a result of the changes to the U.S. taxation of foreign earnings included in U.S. Tax Reform, the Company reevaluated its previous indefinite reinvestment assertion with respect to these earnings during fiscal year 2018, which resulted in the Company revoking its assertion for current and future earnings for all countries, while maintaining the assertion that historic earnings are indefinitely reinvested outside the U.S. The Company is maintaining this prior assertion for the quarter ended January 3, 2020 . Due to the level of earnings available for repatriation, the treaty benefits applicable to jurisdictions in which those earnings are located, and the now favorable U.S. tax treatment of repatriated foreign earnings, the amount of deferred tax liability recorded related to the potential repatriation is approximately $0.1 million

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Jan. 03, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company has two reportable operating segments Medical and Industrial. The segments align the Company’s products and service offerings with customer use in medical and industrial markets and are consistent with how the Company’s Chief Executive Officer, who is also its CODM, evaluates the business for the allocation of resources. The CODM allocates resources to and evaluates the financial performance of each operating segment primarily based on revenues and gross margin. The operating and reportable segment structure provides alignment between business strategies and operating results. Description of Segments The Medical segment designs, manufactures, sells and services X-ray imaging components for use in a range of applications, including radiographic and fluoroscopic imaging, mammography, computed tomography, radiation therapy and computer-aided detection. The Company provides a broad range of X-ray imaging components for Medical customers including X-ray tubes, digital flat panel detectors, generators, high voltage connectors, image-processing software and workstations, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, ionization chambers and buckys. The Company’s X-ray imaging components are primarily sold to imaging system OEM customers that incorporate them into their medical diagnostic, radiation therapy, dental, veterinary and industrial imaging systems. The Company also sells its X-ray imaging components to independent service companies, distributors and directly to end-users for replacement purposes. The Industrial segment designs, manufactures, sells and services products for use in the security and industrial inspection applications, such as airport security, cargo screening at ports and borders and nondestructive examination in a variety of applications. The products include Linatron X-ray accelerators, X-ray tubes, digital flat panel detectors, high voltage connectors and image processing software that we generally sell to OEM customers that incorporate these products into their inspection systems. Accordingly, the following information is provided for purposes of achieving an understanding of operations, but it may not be indicative of the financial results of the reported segments were they independent organizations. In addition, comparisons of the Company’s operations to similar operations of other companies may not be meaningful. Information related to the Company’s segments is as follows: Three Months Ended (In millions) January 3, 2020 December 28, 2018 Revenues Medical $ 155.6 $ 143.9 Industrial 44.5 41.8 Total revenues $ 200.1 $ 185.7 Gross margin Medical $ 43.8 $ 45.1 Industrial 17.3 14.9 Total gross margin $ 61.1 $ 60.0 Total operating expenses 56.5 49.6 Interest and other income (expenses), net (5.8 ) (6.3 ) Earnings before taxes (1.2 ) 4.1 Taxes on earnings — 1.1 Net earnings (1.2 ) 3.0 Less: Net earnings attributable to noncontrolling interests 0.1 — Net earnings attributable to Varex $ (1.3 ) $ 3.0 The following table summarizes the Company’s total assets by its reportable segments: (In millions) January 3, 2020 September 27, 2019 Identifiable assets Medical $ 830.8 $ 794.3 Industrial 237.6 244.6 Total reportable segments $ 1,068.4 $ 1,038.9

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Jan. 03, 2020
Accounting Policies [Abstract]
Basis of Presentation	The accompanying condensed consolidated financial statements are unaudited. These condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). In the opinion of management, these condensed consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results for the interim periods.
Consolidation	These condensed consolidated financial statements and the accompanying notes are unaudited and should be read in conjunction with the consolidated financial statements for the fiscal years ended 2019 , 2018 and 2017 included in the Company’s Form 10-K, which was filed with the SEC on December 20, 2019
Subsequent Events	The Company considers events or transactions that occur after the balance sheet date, but before the financial statements are issued, to provide additional evidence relative to certain estimates or to identify matters that require additional disclosures.
Segment Reporting	Segment Reporting The Company has two reportable operating segments, Medical and Industrial, which align with how its Chief Executive Officer, who has been identified as the Company's Chief Operating Decision Maker ("CODM"), views and measures the Company’s business performance. See Note 16 , Segment Information , for further information on the Company’s segments.
Fiscal Year	Fiscal Year The fiscal years of the Company as reported are the 52 or 53-week period ending on the Friday nearest September 30. Fiscal year 2020 is the 53-week period ending October 2, 2020 . Fiscal year 2019 was the 52-week period that ended on September 27, 2019 . The fiscal quarters ended January 3, 2020 and December 28, 2018 were 14-week and 13-week periods, respectively.
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 reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Such estimates include the valuation of inventories, goodwill and intangible assets, impairment on investments, and taxes on earnings. Actual results could differ from these estimates.
Restricted Cash	Restricted Cash
Concentration of Risk	Concentration of Risk Financial instruments that potentially expose the Company to concentrations of credit risk consist principally of cash, cash equivalents and trade accounts receivable. Cash held with financial institutions may exceed the Federal Deposit Insurance Corporation insurance limits or similar limits in foreign jurisdictions. The Company has not experienced any losses on its deposits of cash and cash equivalents. The Company performs ongoing credit evaluations of its customers and, except for government tenders, group purchases and orders with a letter of credit, its industrial customers often provide a down payment. The Company maintains an allowance for doubtful accounts based upon the expected collectability of all accounts receivable. The Company obtains some of the components in its products from a limited group of suppliers or from a single-source supplier. The Company has neither experienced nor expects any significant disruptions to its operations due to supplier concentration.
Loss Contingencies	Loss Contingencies From time to time, the Company is a party to or otherwise involved in legal proceedings, claims and government inspections or investigations, customs and duties audits, other contingency matters, both inside and outside the United States, arising in the ordinary course of its business or otherwise. The Company accrues amounts for probable losses, to the extent they can be reasonably estimated, that it believes are adequate to address any liabilities related to legal proceedings and other loss contingencies that the Company believes will result in a probable loss (including, among other things, probable settlement value). A loss or a range of loss is disclosed when it is reasonably possible that a material loss will be incurred and can be estimated or when it is reasonably possible that the amount of a loss, when material, will exceed the recorded provision.
Product Warranty	Product Warranty The Company warrants most of its products for a specific period of time, usually 12 to 24 months from delivery or acceptance, against material defects. The Company provides for the estimated future costs of warranty obligations in cost of revenues when the related revenues are recognized. The accrued warranty costs represent the best estimate at the time of sale of the total costs that the Company will incur to repair or replace product parts that fail while still under warranty. The amount of the accrued estimated warranty costs obligation for established products is primarily based on historical experience as to product failures adjusted for current information on repair costs. For new products, the Company bases warranty estimates on historical experience for similar products and adds a reasonable allowance for warranty expenses associated with new products. On a quarterly basis, the Company reviews the accrued warranty costs and updates the historical warranty cost trends, if required.
Leases	Leases
Recently Adopted Accounting Pronouncements and Recent Accounting Standards or Updates Not Yet Effective	Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (the"FASB") issued Accounting Standards Update ("ASU") No. 2016-02, Leases ("Topic 842"), referred to as ASC 842. The purpose of ASC 842 is to increase the transparency and comparability among organizations by recognizing lease assets and liabilities on the balance sheet, including those previously classified as operating leases under U.S. GAAP, and disclosing key information about leasing arrangements. ASC 842, as amended, is effective for public entities for annual periods beginning after December 15, 2018, including interim periods within those annual periods and is effective for the Company in fiscal year 2020. The Company adopted the standard using the transition method provided by ASC Update No. 2018-11, Leases ("Topic 842"): Targeted Improvements. Under this method, the Company applied the new leasing rules on September 28, 2019 , rather than at the earliest comparative period presented in the financial statements. Prior periods were presented in accordance with the existing lease guidance under ASC 840. Upon transition, the Company applied the package of practical expedients permitted under ASC 842 transition guidance to its entire lease portfolio at September 28, 2019. As a result, the Company was not required to reassess (i) whether any expired or existing contracts are or contain leases, (ii) the classification of any expired or existing leases, and (iii) initial direct costs for any existing leases. Also, the Company applied the hindsight practical expedient. Furthermore, as a lessee the Company elected to combine lease and non-lease components for the majority of its leases, which means that the Company accounted for each separate lease component and the non-lease components associated with that lease component as a single lease component. The only asset class that did not combine lease and non-lease components were vehicle leases. The most significant impact of the standards for the Company relate to the recognition of the right-of-use assets and lease liabilities for the operating leases in the balance sheet. Upon adoption of the new lease standard, the Company recognized operating lease right-of-use assets and finance lease right-of-use assets of $26.8 million and $0.6 million , respectively, and corresponding operating lease liabilities and finance lease liabilities of $27.5 million and $0.6 million , respectively. This includes the recording of the Company’s existing capital leases as finance leases at transition. The cumulative impact of adoption was a $0.3 million decrease to retained earnings. Refer to Note 3 , Leases, for a detailed impact of adopting this standard and its impact on the consolidated financial statements and related disclosures. In February 2018, the FASB issued ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income , which provides the option to reclassify certain income tax effects related to the Tax Cuts and Jobs Act passed in December of 2017 between accumulated other comprehensive income and retained earnings and also requires additional disclosures. The amendments in this ASU are effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Effective September 28, 2019 , the Company adopted ASU 2018-02 and it did not have a material effect on the Company’s financial statements and related disclosures. Recent Accounting Standards or Updates Not Yet Effective In December 2019, the FASB issued ASU 2019-12 which simplifies the accounting for income taxes by removing certain exceptions to the current guidance, and improving the consistent application of and simplification of other areas of the guidance. The standard is effective for the Company beginning in the first quarter of fiscal year 2022. Early adoption is permitted. The Company is evaluating the impact of adopting this guidance to its condensed consolidated financial statements. In January 2017, the FASB issued ASU 2017-04 which clarified its guidance to simplify the measurement of goodwill by eliminating the Step 2 impairment test. The new guidance requires companies to perform the goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. The amendment will be effective for the Company beginning in its first quarter of fiscal year 2021. The amendment is required to be adopted prospectively. Early adoption is permitted. The Company is evaluating the impact of adopting this amendment to its condensed consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, "Measurement of Credit Losses on Financial Instruments." This ASU replaces the incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. In addition, the ASU requires new disclosures. This standard will be effective for the Company's interim and annual periods beginning with the first quarter of fiscal 2021 and must be applied on a modified retrospective basis. The Company is evaluating the potential impact of this standard to its condensed consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Jan. 03, 2020
Accounting Policies [Abstract]
Summary of Cash and Cash Equivalents and Restricted Cash	Cash and cash equivalents and restricted cash as reported within the condensed consolidated statements of cash flows consisted of the following: Three Months Ended January 3, 2020 Three Months Ended December 28, 2018 Beginning of Period End of Period Beginning of Period End of Period Cash and cash equivalents $ 29.9 $ 30.0 $ 51.9 $ 55.1 Restricted cash 1.4 1.4 1.5 1.4 Cash and cash equivalents and restricted cash as reported per statement of cash flows $ 31.3 $ 31.4 $ 53.4 $ 56.5
Summary of Customers with a Significant Portion of Revenue	During the periods presented, one of the Company's Medical segment customers accounted for a significant portion of revenues, as follows: Three Months Ended January 3, 2020 December 28, 2018 Canon Medical Systems Corporation 18.8% 18.3%
Schedule of Product Warranty Liability	The following table reflects the changes in the Company’s accrued product warranty: Three Months Ended (In millions) January 3, 2020 December 28, 2018 Accrued product warranty, at beginning of period $ 8.1 $ 7.3 Charged to cost of revenues 4.1 2.0 Product warranty expenditures (3.2 ) (2.7 ) Accrued product warranty, at end of period $ 9.0 $ 6.6

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	3 Months Ended
	Jan. 03, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue by Geographic Location	The following table disaggregates the Company’s revenue by geographic region: Three Months Ended (In millions) January 3, 2020 December 28, 2018 Americas $ 70.3 $ 68.4 EMEA 65.2 62.6 APAC 64.6 54.7 $ 200.1 $ 185.7
Summary of Contract Asset and Liabilities	The following table summarizes the changes in the contract assets and refund liabilities for the three months ended January 3, 2020 : (In millions) Contract Assets Balance at September 28, 2019 $ 23.7 Costs recovered from product returns during the period (0.8 ) Contract asset from shipments of products, subject to return during the period 1.6 Balance at January 3, 2020 $ 24.5 (In millions) Refund Liabilities Balance at September 28, 2019 $ 26.4 Release of refund liability included in beginning of year refund liability (0.9 ) Additions to refund liabilities 1.7 Balance at January 3, 2020 $ 27.2

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Jan. 03, 2020
Leases [Abstract]
Schedule of Supplemental Balance Sheet Information, Weighted Average Remaining Lease Terms and Discount Rates	The following table presents supplemental balance sheet information related to the Company's operating and finance leases: January 3, 2020 (In millions) Balance Sheet Location Operating Leases Finance Leases Assets Operating lease right-of-use assets Operating lease assets $ 25.1 $ — Finance lease right-of-use assets Property, plant and equipment, net $ — $ 0.6 Liabilities Operating lease liabilities (current) Current operating lease liabilities $ 6.7 $ — Finance lease liabilities (current) Accrued liabilities and other current liabilities $ — $ 0.2 Operating lease liabilities (non-current) Operating lease liabilities $ 19.2 $ — Finance lease liabilities (non-current) Other long-term liabilities $ — $ 0.4 The following table presents the weighted average remaining lease term and discount rate information related to the Company's operating and finance leases: January 3, 2020 Operating Leases Finance Leases Weighted average remaining lease term (in years) 5.2 3.0 Weighted average discount rate 4.2 % 3.8 %
Schedule of Lease Cost and Supplemental Cash Flow Information	(In millions) Three Months Ended January 3, 2020 Total operating lease costs (a) $ 2.1 Total finance lease costs $ 0.1 Operating cash flows from operating leases $ 2.0 Financing cash flows from finance leases 0.1 Total cash paid for amounts included in the measurement of lease liabilities $ 2.1 (a) Includes variable and short-term lease expense, which were immaterial for the three months ended January 3, 2020 .
Schedule of Finance Lease Liability Maturities	January 3, 2020 , maturities of operating lease and finance lease liabilities for each of the following five years and a total thereafter were as follows: (In millions) Fiscal years: Operating Leases Finance Leases 2020 remaining $ 5.8 $ 0.2 2021 6.5 0.2 2022 5.6 0.1 2023 3.3 0.1 2024 2.5 — Thereafter 5.3 — Total future lease payments $ 29.0 $ 0.6 Less: imputed interest (3.2 ) — Present value of lease liabilities 25.8 0.6
Schedule of Operating Lease Liability Maturities	January 3, 2020 , maturities of operating lease and finance lease liabilities for each of the following five years and a total thereafter were as follows: (In millions) Fiscal years: Operating Leases Finance Leases 2020 remaining $ 5.8 $ 0.2 2021 6.5 0.2 2022 5.6 0.1 2023 3.3 0.1 2024 2.5 — Thereafter 5.3 — Total future lease payments $ 29.0 $ 0.6 Less: imputed interest (3.2 ) — Present value of lease liabilities 25.8 0.6

BUSINESS COMBINATION (Tables)

BUSINESS COMBINATION (Tables)	3 Months Ended
	Jan. 03, 2020
Business Combinations [Abstract]
Schedule of Purchase Price Allocation	The following table summarizes the preliminary purchase price allocation: (In millions) Fair Value Allocation of the purchase consideration: Accounts receivable $ 2.4 Inventories 5.7 Prepaid expenses and other current assets 0.7 Property, plant, and equipment 0.9 Goodwill 47.2 Intangible assets 32.9 Total assets acquired $ 89.8 Accounts payable $ (1.0 ) Accrued liabilities and other current liabilities (1.5 ) Current maturities of long-term debt (1.0 ) Deferred revenues (0.9 ) Long-term debt (3.5 ) Other long-term liabilities (1.1 ) Total liabilities assumed $ (9.0 ) Noncontrolling interest $ (1.4 ) Net assets acquired, less noncontrolling interest $ 79.4 Net cash paid $ 69.5 Deferred consideration 9.9 Total consideration $ 79.4
Schedule of Intangible Assets Acquired	The following amounts represent the determination of the fair value and estimated weighted average useful lives of identifiable intangible assets for the Direct Conversion, which are amortized straight-line: (In millions) Fair Value Estimated Weighted Average Backlog $ 0.2 1 Trade names 2.5 5 Developed technology 18.4 10 In-process research and development 2.8 indefinite Customer relationships 9.0 10 Total intangible assets acquired $ 32.9

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	3 Months Ended
	Jan. 03, 2020
Restructuring and Related Activities [Abstract]
Summary of Restructuring Costs Incurred	Below is a detail of restructuring charges incurred during the three months ended January 3, 2020 and December 28, 2018 , respectively, which predominately relate to the Company's Medical segment: Three Months Ended (In millions) Location of Restructuring Charges in Consolidated Statements of Earnings January 3, 2020 December 28, 2018 Accelerated depreciation Cost of revenues $ 0.3 $ 4.2 Severance costs Selling, general and administrative 0.5 0.9 Total restructuring charges $ 0.8 $ 5.1

FINANCIAL DERIVATIVES AND HED_2

FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES (Tables)	3 Months Ended
	Jan. 03, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	he following table shows the notional amounts of outstanding foreign currency contracts as of January 3, 2020 : Notional Value of Derivatives not Designated as Hedging Instruments: (In millions) Buy contracts Sell contract Japanese yen $ 2.3 $ — Swiss franc — (1.0 ) Chinese renminbi 1.7 — Euro — (3.4 ) $ 4.0 $ (4.4 ) January 3, 2020 , the Company had the following outstanding derivatives designated as hedging instruments: (In millions, except for number of instruments) Number of Instruments Notional Value Interest Rate Swap Contracts 6 $ 253.1 January 3, 2020 , the Company had the following outstanding derivatives designated as net investment hedging instruments: (In millions, except for number of instruments) Number of Instruments Notional Value Cross Currency Swap Contracts 4 $ 77.7
Schedule of Interest Rate Derivatives	accompanying consolidated balance sheets where the instruments are recorded: (In millions) Derivative Assets and Liabilities Derivatives designated as cash flow hedges Balance sheet location January 3, 2020 September 27, 2019 Interest rate swap contracts Accrued liabilities and other current liabilities $ (0.3 ) $ — Interest rate swap contracts Other long-term liabilities (0.2 ) (0.5 ) $ (0.5 ) $ (0.5 )
Schedule of Net Investment Hedges	he following table summarizes the amount of pre-tax earnings recognized from derivative instruments for the periods indicated and the line items in the accompanying statements of operations where the results are recorded for net investment hedges: Amount of Gain (Loss) Recognized in OCI on Derivative Location of Gain or (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) Amount of Gain or (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) (In millions) January 3, 2020 December 28, 2018 January 3, 2020 December 28, 2018 Cross Currency Swap Contracts $ (0.8 ) $ — Interest expense $ 0.4 $ — These derivative instruments are subject to master netting agreements giving effect to rights of offset with each counterparty. None of the balances were eligible for netting. The following table summarizes the gross fair values of derivative instruments as of the periods indicated and the line items in the accompanying consolidated balance sheets where the instruments are recorded: (In millions) Derivative Assets and Liabilities Derivatives designated as net investment hedges Balance sheet location January 3, 2020 September 27, 2019 Cross Currency Swap Contracts Other current assets $ 1.3 $ — Cross Currency Swap Contracts Other long-term liabilities (2.2 ) — $ (0.9 ) $ —

FAIR VALUE (Tables)

FAIR VALUE (Tables)	3 Months Ended
	Jan. 03, 2020
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis	In the tables below, the Company has segregated all assets and liabilities that are measured at fair value on a recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date. Fair Value Measurements at January 3, 2020 (In millions) Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Significant Unobservable Inputs Total Assets: Cash equivalents - Money market funds $ — $ 4.7 $ — $ 4.7 Derivative assets — 1.3 — 1.3 Total assets measured at fair value $ — $ 6.0 $ — $ 6.0 Liabilities: Derivative liabilities $ — $ 2.7 $ — $ 2.7 Deferred consideration 9.7 — — 9.7 Total liabilities measured at fair value $ 9.7 $ 2.7 $ — $ 12.4
Fair Value, Assets Measured on Recurring Basis	In the tables below, the Company has segregated all assets and liabilities that are measured at fair value on a recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date. Fair Value Measurements at January 3, 2020 (In millions) Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Significant Unobservable Inputs Total Assets: Cash equivalents - Money market funds $ — $ 4.7 $ — $ 4.7 Derivative assets — 1.3 — 1.3 Total assets measured at fair value $ — $ 6.0 $ — $ 6.0 Liabilities: Derivative liabilities $ — $ 2.7 $ — $ 2.7 Deferred consideration 9.7 — — 9.7 Total liabilities measured at fair value $ 9.7 $ 2.7 $ — $ 12.4 At September 27, 2019 , the Company determined the following levels of inputs at fair value for the following assets or liabilities: Fair Value Measurements at September 27, 2019 (In millions) Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Significant Unobservable Inputs Total Assets: Cash equivalents - Money market funds $ — $ 8.8 $ — $ 8.8 Total assets measured at fair value $ — $ 8.8 $ — $ 8.8 Liabilities: Derivative liabilities $ — $ 0.7 $ — $ 0.7 Deferred Consideration 8.9 — — 8.9 Total liabilities measured at fair value $ 8.9 $ 0.7 $ — $ 9.6

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Jan. 03, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	The following table summarizes the Company’s inventories: (In millions) January 3, 2020 September 27, 2019 Raw materials and parts $ 184.2 $ 160.1 Work-in-process 27.6 27.9 Finished goods 57.3 60.2 Total inventories $ 269.1 $ 248.2

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	3 Months Ended
	Jan. 03, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table reflect goodwill by reportable operating segment: (In millions) Medical Industrial Total Balance at September 27, 2019 $ 173.0 $ 117.8 $ 290.8 Balance at January 3, 2020 $ 173.0 $ 117.8 $ 290.8
Schedule of Indefinite-Lived Intangible Assets [Table Text Block]	The following table reflects the gross carrying amount and accumulated amortization of the Company’s finite-lived intangible assets included in other assets in the condensed consolidated balance sheets: January 3, 2020 September 27, 2019 (In millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired existing technology $ 74.1 $ (30.8 ) $ 43.3 $ 74.1 $ (28.4 ) $ 45.7 Patents, licenses and other 12.7 (8.7 ) 4.0 12.7 (8.4 ) 4.3 Customer contracts and supplier relationship 50.7 (19.0 ) 31.7 50.7 (17.2 ) 33.5 Total intangible assets with finite lives 137.5 (58.5 ) 79.0 137.5 (54.0 ) 83.5 In-process R&D with indefinite lives 2.8 0.0 2.8 2.8 0.0 2.8 Total intangible assets $ 140.3 $ (58.5 ) $ 81.8 $ 140.3 $ (54.0 ) $ 86.3

BORROWINGS (Tables)

BORROWINGS (Tables)	3 Months Ended
	Jan. 03, 2020
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes the Company's short-term and long-term debt: January 3, 2020 September 27, 2019 $ Change (In millions, except for percentages) Amount Weighted-Average Interest Rate Amount Weighted-Average Interest Rate Current maturities of long-term debt Term facility $ 29.4 5.3 % $ 29.4 5.6 % $ — Other debt 1.0 1.3 (0.3 ) Total current maturities of long-term debt $ 30.4 $ 30.7 $ (0.3 ) Non-current maturities of long-term debt: Revolving credit facility $ 52.0 5.3 % $ 59.0 5.6 % $ (7.0 ) Term facility 301.1 5.3 % 308.6 5.6 % (7.5 ) Other debt 2.6 2.5 0.1 Debt issuance costs (4.8 ) (5.7 ) 0.9 Non-current maturities of long-term debt 350.9 364.4 (13.5 ) Total long-term debt, net $ 381.3 $ 395.1 $ (13.8 )

REDEEMABLE NONCONTROLLING INT_2

REDEEMABLE NONCONTROLLING INTERESTS & NONCONTROLLING INTERESTS (Tables)	3 Months Ended
	Jan. 03, 2020
Noncontrolling Interest [Abstract]
Redeemable Noncontrolling Interest	Changes in redeemable noncontrolling interests were as follows: (In millions) Redeemable Noncontrolling Interests Noncontrolling Interest Balance at beginning of period, September 27, 2019 $ 10.5 $ 3.3 Net earnings attributable to noncontrolling interests 0.1 — Other, including foreign currency remeasurement 0.1 — Balance at end of period, January 3, 2020 $ 10.7 $ 3.3

NET (LOSS) EARNINGS PER SHARE (

NET (LOSS) EARNINGS PER SHARE (Tables)	3 Months Ended
	Jan. 03, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	A reconciliation of the numerator and denominator used in the calculation of basic and diluted net (loss) income per common share is as follows: Three Months Ended (In millions, except per share amounts) January 3, 2020 December 28, 2018 Net earnings attributable to Varex $ (1.3 ) $ 3.0 Weighted average shares outstanding - basic 38.5 38.1 Dilutive effect of potential common shares — 0.2 Weighted average shares outstanding - diluted 38.5 38.3 Net earnings per share attributable to Varex - basic $ (0.03 ) $ 0.08 Net earnings per share attributable to Varex - diluted $ (0.03 ) $ 0.08 Anti-dilutive shared based awards, excluded 1.7 2.1

EMPLOYEE STOCK PLANS (Tables)

EMPLOYEE STOCK PLANS (Tables)	3 Months Ended
	Jan. 03, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	The table below summarizes the effect of recording the share-based compensation expense (which includes the option component of the employee stock purchase plan shares): Three Months Ended (In millions) January 3, 2020 December 28, 2018 Cost of revenues $ 0.3 $ 0.3 Research and development 0.6 0.5 Selling, general and administrative 2.3 1.8 Total share-based compensation expense $ 3.2 $ 2.6
Schedule of Share-based Compensation, Stock Options, Activity	The following table summarizes the activity for stock options under Varex’s 2017 Omnibus Stock Plan and 2017 Employee Stock Purchase Plan for the Company’s employees: Options Outstanding (In thousands, except per share amounts and the remaining term) Options Price Range Weighted Average Exercise Price Weighted Average Remaining Term (in years) Aggregate Intrinsic Value (1) Outstanding at September 27, 2019 2,269 $22.63 - $37.60 $ 30.60 Granted — — — Canceled, expired or forfeited (19 ) $22.84 - $37.10 30.99 Exercised (49 ) $22.84 - $22.84 22.84 Outstanding at January 3, 2020 2,201 $22.63 - $37.60 $ 30.77 3.92 $ 1,735.0 Exercisable at January 3, 2020 1,500 $22.63 - $37.60 $ 30.04 3.34 $ 1,735.0 (1) The aggregate intrinsic value represents the total pre-tax intrinsic value, which is computed based on the difference between the exercise price and the closing price of Varex common stock of $30.00 as of January 3, 2020 , the last trading date of the Company's first quarter, and which represents the amount that would have been received by the option holders had all option holders exercised their options and sold the shares received upon exercise as of that date.
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table summarizes the activity for restricted stock units under Varex’s 2017 Omnibus Stock Plan for the Company’s employees: (In thousands, except per share amounts) Number of Shares Weighted Average Grant-Date Fair Value Balance at September 27, 2019 678 $ 33.18 Granted 3 26.78 Vested (2 ) 30.21 Canceled or expired (8 ) 33.49 Balance at January 3, 2020 671 $ 33.16

TAXES ON EARNINGS (Tables)

TAXES ON EARNINGS (Tables)	3 Months Ended
	Jan. 03, 2020
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	Three Months Ended January 3, 2020 December 28, 2018 Estimated effective tax rate 0.9 % 26.8 %

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Jan. 03, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Information related to the Company’s segments is as follows: Three Months Ended (In millions) January 3, 2020 December 28, 2018 Revenues Medical $ 155.6 $ 143.9 Industrial 44.5 41.8 Total revenues $ 200.1 $ 185.7 Gross margin Medical $ 43.8 $ 45.1 Industrial 17.3 14.9 Total gross margin $ 61.1 $ 60.0 Total operating expenses 56.5 49.6 Interest and other income (expenses), net (5.8 ) (6.3 ) Earnings before taxes (1.2 ) 4.1 Taxes on earnings — 1.1 Net earnings (1.2 ) 3.0 Less: Net earnings attributable to noncontrolling interests 0.1 — Net earnings attributable to Varex $ (1.3 ) $ 3.0
Reconciliation of Assets from Segment to Consolidated	The following table summarizes the Company’s total assets by its reportable segments: (In millions) January 3, 2020 September 27, 2019 Identifiable assets Medical $ 830.8 $ 794.3 Industrial 237.6 244.6 Total reportable segments $ 1,068.4 $ 1,038.9

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Segment Reporting (Details)	3 Months Ended
	Jan. 03, 2020segment
Accounting Policies [Abstract]
Number of reportable operating segments	2

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Jan. 03, 2020	Sep. 27, 2019	Dec. 28, 2018	Sep. 28, 2018
Accounting Policies [Abstract]
Cash and cash equivalents	$ 30	$ 29.9	$ 55.1	$ 51.9
Restricted cash	1.4	1.4	1.4	1.5
Cash and cash equivalents and restricted cash as reported per statement of cash flows	$ 31.4	$ 31.3	$ 56.5	$ 53.4

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Customer Concentration Risk (Details) - Customer Concentration Risk - Canon Medical Systems Corporation	3 Months Ended		12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Sep. 27, 2019
Revenue from Contract with Customer
Concentration Risk [Line Items]
Concentration risk, percentage	18.80%	18.30%
Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	14.50%		10.10%

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Product Warranty (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 03, 2020	Dec. 28, 2018
Movement in Standard Product Warranty Accrual [Roll Forward]
Accrued product warranty, at beginning of period	$ 8.1	$ 7.3
Charged to cost of revenues	4.1	2
Product warranty expenditures	(3.2)	(2.7)
Accrued product warranty, at end of period	$ 9	$ 6.6
Minimum
Product Warranty Liability [Line Items]
Warranty term	12 months
Maximum
Product Warranty Liability [Line Items]
Warranty term	24 months

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recently Adopted Accounting Pronouncements (Details) - USD ($) $ in Millions	Jan. 03, 2020	Sep. 28, 2019	Sep. 27, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets	$ 25.1
Finance lease, right-of-use asset	0.6
Operating lease liability	25.8
Present value of lease liabilities	0.6
Decrease to retained earnings upon adoption of new accounting guidance	$ (72.5)		$ (74.4)
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets		$ 26.8
Finance lease, right-of-use asset		0.6
Operating lease liability		27.5
Present value of lease liabilities		0.6
Decrease to retained earnings upon adoption of new accounting guidance		$ 0.3

REVENUE RECOGNITION - Disaggreg

REVENUE RECOGNITION - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 03, 2020	Dec. 28, 2018
Disaggregation of Revenue [Line Items]
Revenues, net	$ 200.1	$ 185.7
Americas
Disaggregation of Revenue [Line Items]
Revenues, net	70.3	68.4
EMEA
Disaggregation of Revenue [Line Items]
Revenues, net	65.2	62.6
APAC
Disaggregation of Revenue [Line Items]
Revenues, net	64.6	54.7
UNITED STATES
Disaggregation of Revenue [Line Items]
Revenues, net	$ 68.9	$ 67.2

REVENUE RECOGNITION - Summary o

REVENUE RECOGNITION - Summary of Contract Assets and Liabilities (Details) $ in Millions	3 Months Ended
	Jan. 03, 2020USD ($)
Change in Contract with Customer, Asset [Abstract]
Balance at September 28, 2019	$ 23.7
Costs recovered from product returns during the period	(0.8)
Contract asset from shipments of products, subject to return during the period	1.6
Balance at January 3, 2020	24.5
Change in Contract with Customer, Liability [Abstract]
Balance at September 28, 2019	26.4
Release of refund liability included in beginning of year refund liability	(0.9)
Additions to refund liabilities	1.7
Balance at January 3, 2020	$ 27.2

REVENUE RECOGNITION - Performan

REVENUE RECOGNITION - Performance Obligation (Details) - USD ($) $ in Millions	Jan. 03, 2020	Sep. 27, 2019
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 268.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-04
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction, period		12 months

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 03, 2020	Sep. 27, 2019
Lessee, Lease, Description [Line Items]
Lease renewal term	6 years
Operating lease payments due in 2019, under topic 840		$ 7.5
Operating lease payments due in 2020, under topic 840		5.4
Operating lease payments due in 2021, under topic 840		4.7
Operating lease payments due in 2022, under topic 840		1.8
Operating lease payments due in 2023, under topic 840		0.9
Operating lease payments due thereafter, under topic 840		$ 0.2
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	5 years

LEASES - Schedule of Lease Righ

LEASES - Schedule of Lease Right-of-Use Assets and Liabilities (Details) $ in Millions	Jan. 03, 2020USD ($)
Assets
Operating lease assets	$ 25.1
Finance lease, right-of-use asset	0.6
Liabilities
Operating lease liabilities (current)	6.7
Finance lease liabilities (current)	0.2
Operating lease liabilities (non-current)	19.2
Finance lease liabilities (non-current)	$ 0.4

LEASES - Schedule of Weighted A

LEASES - Schedule of Weighted Average Remaining Lease Terms and Discount Rates (Details)	Jan. 03, 2020
Operating Leases
Weighted average remaining lease term	5 years 2 months 12 days
Weighted average discount rate	4.20%
Finance Leases
Weighted average remaining lease term	3 years
Weighted average discount rate	3.80%

LEASES - Schedule of Operating

LEASES - Schedule of Operating Lease Cost and Supplemental Cash Flow Information (Details) $ in Millions	3 Months Ended
	Jan. 03, 2020USD ($)
Leases [Abstract]
Total operating lease costs	$ 2.1
Total finance lease costs	0.1
Operating cash flows from operating leases	2
Financing cash flows from finance leases	0.1
Total cash paid for amounts included in the measurement of lease liabilities	$ 2.1

LEASES - Schedule of Operatin_2

LEASES - Schedule of Operating and Finance Lease Liability Maturities (Details) $ in Millions	Jan. 03, 2020USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2020 remaining	$ 5.8
2021	6.5
2022	5.6
2023	3.3
2024	2.5
Thereafter	5.3
Total future lease payments	29
Less: imputed interest	(3.2)
Present value of lease liabilities	25.8
Finance Lease, Liability, Payment, Due [Abstract]
2020 remaining	0.2
2021	0.2
2022	0.1
2023	0.1
2024	0
Thereafter	0
Total future lease payments	0.6
Less: imputed interest	0
Present value of lease liabilities	$ 0.6

BUSINESS COMBINATION - Acquisit

BUSINESS COMBINATION - Acquisition of Direct Conversion AB Narrative (Details) - Direct Conversion AB - USD ($) $ in Millions	Apr. 29, 2019	Apr. 30, 2019
Business Acquisition [Line Items]
Percentage of voting interests acquired	98.20%	98.20%
Net cash paid	$ 69.5
Debt assumed in acquisition	4.5
Deferred consideration	$ 9.9
Deferred consideration, value of common stock (in shares)	300,000

BUSINESS COMBINATION - Schedule

BUSINESS COMBINATION - Schedule of Purchase Price Allocation for Direct Conversion AB Acquisition (Details) - USD ($) $ in Millions	Apr. 29, 2019	Jan. 03, 2020	Sep. 27, 2019
Allocation of the purchase consideration:
Goodwill		$ 290.8	$ 290.8
Direct Conversion AB
Allocation of the purchase consideration:
Accounts receivable	$ 2.4
Inventories	5.7
Prepaid expenses and other current assets	0.7
Property, plant, and equipment	0.9
Goodwill	47.2
Intangible assets	32.9
Total assets acquired	89.8
Accounts payable	(1)
Accrued liabilities and other current liabilities	(1.5)
Current maturities of long-term debt	(1)
Deferred revenues	(0.9)
Long-term debt	(3.5)
Other long-term liabilities	(1.1)
Total liabilities assumed	(9)
Noncontrolling interest	(1.4)
Net assets acquired, less noncontrolling interest	79.4
Net cash paid	69.5
Deferred consideration	9.9
Total consideration	$ 79.4

BUSINESS COMBINATION - Intangib

BUSINESS COMBINATION - Intangibles Acquired (Details) - Direct Conversion AB $ in Millions	Apr. 29, 2019USD ($)
Business Acquisition [Line Items]
Fair Value	$ 32.9
In-process research and development
Business Acquisition [Line Items]
Fair Value	2.8
Backlog
Business Acquisition [Line Items]
Fair Value	$ 0.2
Estimated Weighted Average Useful Life (In Years)	1 year
Trade names
Business Acquisition [Line Items]
Fair Value	$ 2.5
Estimated Weighted Average Useful Life (In Years)	5 years
Developed technology
Business Acquisition [Line Items]
Fair Value	$ 18.4
Estimated Weighted Average Useful Life (In Years)	10 years
Customer relationships
Business Acquisition [Line Items]
Fair Value	$ 9
Estimated Weighted Average Useful Life (In Years)	10 years

BUSINESS COMBINATION - Acquis_2

BUSINESS COMBINATION - Acquisition of Reliable Healthcare Imaging Technology Narrative (Details) $ in Millions	3 Months Ended
	Jan. 03, 2020USD ($)
Reliable Healthcare Imaging Technology
Business Acquisition [Line Items]
Net cash paid	$ 1.2

RELATED-PARTY TRANSACTIONS - In

RELATED-PARTY TRANSACTIONS - Investment in Privately-Held Companies Narrative (Details) $ in Millions	Feb. 18, 2020USD ($)	Oct. 31, 2013	Jan. 03, 2020USD ($)member	Dec. 28, 2018USD ($)	Dec. 31, 2020USD ($)	Jan. 03, 2020USD ($)member	Sep. 27, 2019USD ($)	Nov. 30, 2018
Related Party Transaction [Line Items]
(Loss) Income from equity method investments			$ (0.7)	$ (0.8)
dpiX Holding | Varian
Related Party Transaction [Line Items]
Equity method investment, ownership percentage			40.00%			40.00%
Number of consortium members | member			4			4
(Loss) Income from equity method investments			$ 0.9	(0.7)
Equity method investments			48.5			$ 48.5	$ 48.1
Purchases from related party			5.9	$ 2.8
Accounts payable, related parties			3.4			3.4	3.6
Percentage of manufacturing capacity		50.00%
Percentage of fixed costs		50.00%
VEC Imaging GmbH & Co. KG
Related Party Transaction [Line Items]
Equity method investment, ownership percentage								50.00%
Equity method investments			$ 3			3	$ 2
Payments to acquire equity method investments						$ 4.2
Scenario, Forecast | VEC Imaging GmbH & Co. KG
Related Party Transaction [Line Items]
Payments to acquire equity method investments	$ 1.1
Scenario, Forecast | Fixed Cost Commitments | dpiX Holding | Varian
Related Party Transaction [Line Items]
Purchases from related party					$ 12.7

RESTRUCTURING - Narrative (Deta

RESTRUCTURING - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 03, 2020	Dec. 28, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0.8	$ 5.1
Santa Clara Facility Relocation
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0.8	$ 5.1
Minimum | Santa Clara Facility Relocation
Restructuring Cost and Reserve [Line Items]
Restructuring and related costs expected remaining	7.3
Maximum | Santa Clara Facility Relocation
Restructuring Cost and Reserve [Line Items]
Restructuring and related costs expected remaining	$ 11.3

RESTRUCTURING - Summary of Rest

RESTRUCTURING - Summary of Restructuring Cost Incurred (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 03, 2020	Dec. 28, 2018
Restructuring and Related Activities [Abstract]
Accelerated depreciation	$ 0.3	$ 4.2
Severance costs	0.5	0.9
Total restructuring charges	$ 0.8	$ 5.1

FINANCIAL DERIVATIVES AND HED_3

FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES - Summary of Derivative Instruments (Details) - Derivatives designated as cash flow hedges - Designated as Hedging Instrument $ in Millions	Jan. 03, 2020USD ($)derivative
Interest Rate Swap Contracts
Derivative [Line Items]
Number of Instruments | derivative	6
Notional Value | $	$ 253.1
Cross Currency Swap Contracts
Derivative [Line Items]
Number of Instruments | derivative	4
Notional Value | $	$ 77.7

FINANCIAL DERIVATIVES AND HED_4

FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES - Summary of Income Recognized From Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 03, 2020	Dec. 28, 2018
Cross Currency Swap Contracts
Derivative [Line Items]
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	$ (0.8)
Interest Rate Swap Contracts
Derivative [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative Three months ended	0
Designated as Hedging Instrument | Derivatives designated as cash flow hedges | Cross Currency Swap Contracts
Derivative [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative Three months ended		$ 0
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income Three months ended		0
Designated as Hedging Instrument | Derivatives designated as cash flow hedges | Interest Rate Swap Contracts
Derivative [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative Three months ended		(2.5)
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income Three months ended		$ 0.4
Interest expense | Cross Currency Swap Contracts
Derivative [Line Items]
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments and Tax	0.4
Interest expense | Interest Rate Swap Contracts
Derivative [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income Three months ended	$ 0

FINANCIAL DERIVATIVES AND HED_5

FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES - Summary of Derivatives at Fair Value (Details) - Derivatives designated as cash flow hedges - Designated as Hedging Instrument - USD ($) $ in Millions	Jan. 03, 2020	Sep. 27, 2019
Interest Rate Swap Contracts
Derivative [Line Items]
Derivative liabilities fair value, gross	$ (0.5)	$ (0.5)
Cross Currency Swap Contracts
Derivative [Line Items]
Derivative assets and liabilities, net	(0.9)	0
Accrued liabilities and other current liabilities | Interest Rate Swap Contracts
Derivative [Line Items]
Derivative liabilities fair value, gross	(0.3)	0
Accrued liabilities and other current liabilities | Cross Currency Swap Contracts
Derivative [Line Items]
Derivative assets fair value, gross	1.3	0
Other long-term liabilities | Interest Rate Swap Contracts
Derivative [Line Items]
Derivative liabilities fair value, gross	(0.2)	(0.5)
Other long-term liabilities | Cross Currency Swap Contracts
Derivative [Line Items]
Derivative liabilities fair value, gross	$ (2.2)	$ 0

FINANCIAL DERIVATIVES AND HED_6

FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES - Narrative (Details) $ in Millions	3 Months Ended
	Jan. 03, 2020USD ($)
Derivatives designated as cash flow hedges
Derivative [Line Items]
Recorded component of accumulated other comprehensive income (loss) that will be reclassified in the statements of comprehensive earnings over the next 12 months	$ (0.3)

FINANCIAL DERIVATIVES AND HED_7

FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES - Summary of Notional Amount and Net Unrealized Gain (Loss) (Details) - Designated as Hedging Instrument - Foreign Exchange Contract $ in Millions	Jan. 03, 2020USD ($)
Buy contracts
Derivative [Line Items]
Notional Value	$ 4
Buy contracts | Japanese yen
Derivative [Line Items]
Notional Value	2.3
Buy contracts | Swiss franc
Derivative [Line Items]
Notional Value	0
Buy contracts | Chinese renminbi
Derivative [Line Items]
Notional Value	1.7
Buy contracts | Euro
Derivative [Line Items]
Notional Value	0
Sell contract
Derivative [Line Items]
Notional Value	(4.4)
Sell contract | Japanese yen
Derivative [Line Items]
Notional Value	0
Sell contract | Swiss franc
Derivative [Line Items]
Notional Value	(1)
Sell contract | Chinese renminbi
Derivative [Line Items]
Notional Value	0
Sell contract | Euro
Derivative [Line Items]
Notional Value	$ (3.4)

FAIR VALUE (Details)

FAIR VALUE (Details) - USD ($) $ in Millions	Jan. 03, 2020	Sep. 27, 2019
Assets:
Cash equivalents - Money market funds	$ 4.7	$ 8.8
Derivative assets	1.3
Total assets measured at fair value	6	8.8
Liabilities:
Derivative liabilities	2.7	0.7
Deferred consideration	9.7	8.9
Total liabilities measured at fair value	12.4	9.6
Long-term debt, fair value	381.3
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)
Assets:
Cash equivalents - Money market funds	0	0
Derivative assets	0
Total assets measured at fair value	0	0
Liabilities:
Derivative liabilities	0	0
Deferred consideration	9.7	8.9
Total liabilities measured at fair value	9.7	8.9
Significant Other Observable Inputs (Level 2)
Assets:
Cash equivalents - Money market funds	4.7	8.8
Derivative assets	1.3
Total assets measured at fair value	6	8.8
Liabilities:
Derivative liabilities	2.7	0.7
Deferred consideration	0	0
Total liabilities measured at fair value	2.7	0.7
Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents - Money market funds	0	0
Derivative assets	0
Total assets measured at fair value	0	0
Liabilities:
Derivative liabilities	0	0
Deferred consideration	0	0
Total liabilities measured at fair value	$ 0	$ 0

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Jan. 03, 2020	Sep. 27, 2019
Inventory Disclosure [Abstract]
Raw materials and parts	$ 184.2	$ 160.1
Work-in-process	27.6	27.9
Finished goods	57.3	60.2
Total inventories	$ 269.1	$ 248.2

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Goodwill Rollforward (Details) $ in Millions	Jan. 03, 2020USD ($)
Goodwill [Roll Forward]
Balance at September 27, 2019	$ 290.8
Balance at January 3, 2020	290.8
Medical
Goodwill [Roll Forward]
Balance at September 27, 2019	173
Balance at January 3, 2020	173
Industrial
Goodwill [Roll Forward]
Balance at September 27, 2019	117.8
Balance at January 3, 2020	$ 117.8

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Sep. 27, 2019
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 137.5		$ 137.5
Accumulated amortization	(58.5)		(54)
Total intangible assets with finite lives, net carrying amount	79		83.5
In-process research and development with indefinite lives	2.8		2.8
Total intangible assets, gross	140.3		140.3
Total intangible assets, net	81.8		86.3
Amortization of intangible assets	4.5	$ 3.7
Acquired existing technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	74.1		74.1
Accumulated amortization	(30.8)		(28.4)
Total intangible assets with finite lives, net carrying amount	43.3		45.7
Patents, licenses and other
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	12.7		12.7
Accumulated amortization	(8.7)		(8.4)
Total intangible assets with finite lives, net carrying amount	4		4.3
Customer contracts and supplier relationship
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	50.7		50.7
Accumulated amortization	(19)		(17.2)
Total intangible assets with finite lives, net carrying amount	$ 31.7		$ 33.5

BORROWINGS - Schedule of Debt (

BORROWINGS - Schedule of Debt (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jan. 03, 2020	Sep. 27, 2019
Current maturities of long-term debt
Current maturities of long-term debt	$ 30.4	$ 30.7
Change in current maturities of long-term debt	(0.3)
Non-current maturities of long-term debt:
Debt issuance costs	(4.8)	(5.7)
Non-current maturities of long-term debt	350.9	364.4
Change in debt issuance costs	0.9
Change in maturities of long-term debt	(13.5)
Total debt outstanding, net	381.3	395.1
Change in total debt outstanding, net	(13.8)
Secured Debt
Current maturities of long-term debt
Current maturities of long-term debt	$ 29.4	$ 29.4
Weighted-Average Interest Rate	5.30%	5.60%
Change in current portion of Term Facility	$ 0
Non-current maturities of long-term debt:
Long-term debt excluding current maturities, gross	$ 301.1	$ 308.6
Weighted-Average Interest Rate	5.30%	5.60%
Change in revolving credit facility	$ (7.5)
Other Debt
Current maturities of long-term debt
Current maturities of long-term debt	1	$ 1.3
Change in current portion of other long-term debt	(0.3)
Non-current maturities of long-term debt:
Long-term debt excluding current maturities, gross	2.6	2.5
Change in long-term portion of other debt	0.1
Revolving Credit Facility May 2017 | Revolving Credit Facility
Non-current maturities of long-term debt:
Long-term debt excluding current maturities, gross	$ 52	$ 59
Weighted-Average Interest Rate	5.30%	5.60%
Change in revolving credit facility	$ (7)

BORROWINGS - Narrative (Details

BORROWINGS - Narrative (Details) - USD ($)	May 01, 2017	Jan. 03, 2020	Oct. 01, 2019	Oct. 03, 2018
Revolving Credit Facility
Line of Credit Facility [Line Items]
Available borrowing capacity		$ 73,000,000
Second Revolving Credit Facility [Member] | Debt Instrument, Repayment, Period Two | Secured Debt
Line of Credit Facility [Line Items]
Repayment percentage	5.00%
Second Revolving Credit Facility [Member] | Debt Instrument, Repayment, Period Four | Secured Debt
Line of Credit Facility [Line Items]
Repayment percentage	7.50%
Revolving Credit Facility May 2017
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 125,000,000	$ 150,000,000
Revolving Credit Facility May 2017 | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 200,000,000
Debt instrument, term	5 years
Used capacity, commitment fee percentage	0.125%
Revolving Credit Facility May 2017 | Secured Debt
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 400,000,000
Debt instrument, term	5 years
Revolving Credit Facility May 2017 | Federal Funds Effective Swap Rate | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility May 2017 | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
Revolving Credit Facility May 2017 | Minimum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Unused capacity, commitment fee percentage	0.25%
Revolving Credit Facility May 2017 | Minimum | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.75%
Revolving Credit Facility May 2017 | Minimum | Base Rate | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.75%
Revolving Credit Facility May 2017 | Maximum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Unused capacity, commitment fee percentage	0.40%
Revolving Credit Facility May 2017 | Maximum | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.75%
Revolving Credit Facility May 2017 | Maximum | Base Rate | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.75%
Revolving Credit Facility May 2017 | Debt Instrument, Repayment, Period One | Secured Debt
Line of Credit Facility [Line Items]
Repayment percentage	5.00%
Revolving Credit Facility May 2017 | Debt Instrument, Repayment, Period Three | Secured Debt
Line of Credit Facility [Line Items]
Repayment percentage	7.50%
Revolving Credit Facility May 2017 | Debt Instrument, Repayment, Period Five | Secured Debt
Line of Credit Facility [Line Items]
Repayment percentage	10.00%

REDEEMABLE NONCONTROLLING INT_3

REDEEMABLE NONCONTROLLING INTERESTS & NONCONTROLLING INTERESTS - Noncontrolling Interest (Details) shares in Millions, $ in Millions	3 Months Ended
	Jan. 03, 2020USD ($)	Jan. 03, 2020USD ($)€ / sharesshares	Jan. 03, 2020€ / shares	Apr. 30, 2019	Apr. 29, 2019	Sep. 28, 2018	Apr. 30, 2015
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance at beginning of period, September 27, 2019	$ 3.3
Net earnings attributable to noncontrolling interests	0
Other, including foreign currency remeasurement	0
Balance at end of period, January 3, 2020	3.3
Direct Conversion AB
Noncontrolling Interest [Line Items]
Percentage of voting interests acquired				98.20%	98.20%
MeVis Medical Solutions AG (MeVis)
Noncontrolling Interest [Line Items]
Percentage of voting interests acquired							73.50%
Annual recurring compensation (in euros per share) | € / shares		€ 0.95
Temporary equity, redemption price per share (in euros per share) | € / shares			€ 19.77
Temporary equity, shares outstanding (in shares) | shares		0.5
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance at beginning of period, September 27, 2019	10.5
Net earnings attributable to noncontrolling interests	0.1
Other, including foreign currency remeasurement	0.1
Balance at end of period, January 3, 2020	$ 10.5	€ 10.7
Joint Venture In Saudi Arabia
Noncontrolling Interest [Line Items]
Majority voting rights, percent						75.00%
Noncontrolling interest, ownership percentage by noncontrolling owners						25.00%
MeVis Medical Solutions AG (MeVis)
Noncontrolling Interest [Line Items]
Noncontrolling interest, ownership percentage by noncontrolling owners		26.30%

NET (LOSS) EARNINGS PER SHARE -

NET (LOSS) EARNINGS PER SHARE - Reconciliation of Numerator and Denominator for Basic and Diluted Net (Loss) Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Jan. 03, 2020	Dec. 28, 2018
Earnings Per Share [Abstract]
Net earnings attributable to Varex	$ (1.3)	$ 3
Weighted average common shares outstanding, basic (in shares)	38.5	38.1
Dilutive effect of potential common shares (in shares)	0	0.2
Weighted average common shares outstanding, diluted (in shares)	38.5	38.3
Earnings per share, basic (in USD per share)	$ (0.03)	$ 0.08
Earnings per share, diluted (in USD per share)	$ (0.03)	$ 0.08
Anti-dilutive employee shared based awards, excluded (in shares)	1.7	2.1

EMPLOYEE STOCK PLANS - Share-ba

EMPLOYEE STOCK PLANS - Share-based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 03, 2020	Dec. 28, 2018
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share-based compensation expense	$ 3.2	$ 2.6
Cost of revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share-based compensation expense	0.3	0.3
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share-based compensation expense	0.6	0.5
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share-based compensation expense	$ 2.3	$ 1.8

EMPLOYEE STOCK PLANS - Stock Op

EMPLOYEE STOCK PLANS - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands	3 Months Ended
	Jan. 03, 2020	Sep. 27, 2019
Number of Shares [Rollforward]
Options, outstanding, beginning balance (in shares)	2,269
Options, grants in period (in shares)	0
Options, canceled, forfeited and expired in period (in shares)	(19)
Options, exercises in period (in shares)	(49)
Options, outstanding, ending balance (in shares)	2,201
Options, exercisable (in shares)	1,500
Weighted Average Exercise Price
Options, outstanding, weighted average exercise price, beginning (in USD per share)	$ 30.60
Options, grants in period, weighted average exercise price (in USD per share)	0
Options, canceled, forfeited and expired in period, weighted average exercise price (in USD per share)	30.99
Options, exercises in period, weighted average exercise price (in USD per share)	22.84
Options, outstanding, weighted average exercise price, ending (in USD per share)	30.77
Options, exercisable, weighted average exercise price (in USD per share)	$ 30.04
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options, outstanding, weighted average remaining contractual term (in years)	3 years 11 months 1 day
Options, exercisable, weighted average remaining contractual term (in years)	3 years 4 months 2 days
Options, outstanding, intrinsic value	$ 1,735,000
Options, exercisable, intrinsic value	$ 1,735,000
Share price (in USD per share)	$ 30
Minimum
Price range
Outstanding at period beginning and ending (in USD per share)	22.63	$ 22.63
Canceled, expired or forfeited (in USD per share)	22.84
Exercised (in USD per share)	22.84
Exercisable at January 3, 2020 (in USD per share)	22.63
Maximum
Price range
Outstanding at period beginning and ending (in USD per share)	37.60	$ 37.60
Canceled, expired or forfeited (in USD per share)	37.10
Exercised (in USD per share)	22.84
Exercisable at January 3, 2020 (in USD per share)	$ 37.60

EMPLOYEE STOCK PLANS - Restrict

EMPLOYEE STOCK PLANS - Restricted Stock and Performance Stock (Details) shares in Thousands	3 Months Ended
	Jan. 03, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock units, nonvested, beginning balance, number of shares (in shares) | shares	678
Restricted stock units, grants in period (in shares) | shares	3
Restricted stock units, vested in period (in shares) | shares	(2)
Restricted stock units, canceled or expired in period (in shares) | shares	(8)
Restricted stock units, nonvested, ending balance, number of shares (in shares) | shares	671
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Restricted stock units, nonvested, beginning of period, weighted average grant date fair value (in USD per share) | $ / shares	$ 33.18
Restricted stock units, grants in period, weighted average grant date fair value (in USD per share) | $ / shares	26.78
Restricted stock units, vested in period, weighted average grant date fair value (in USD per share) | $ / shares	30.21
Restricted stock units, canceled or expired, weighted average grant date fair value (in USD per share) | $ / shares	33.49
Restricted stock units, nonvested, end of period, weighted average grant date fair value (in USD per share) | $ / shares	$ 33.16

TAXES ON EARNINGS - Reconciliat

TAXES ON EARNINGS - Reconciliation (Details)	3 Months Ended
	Jan. 03, 2020	Dec. 28, 2018
Income Tax Disclosure [Abstract]
Effective tax rate percent	0.90%	26.80%

TAXES ON EARNINGS - Narrative (

TAXES ON EARNINGS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 03, 2020	Dec. 28, 2018
Income Tax Disclosure [Abstract]
Tax expense (benefit)	$ 0	$ (1.1)
Effective tax rate percent	0.90%	26.80%
Deferred tax liabilities of undistributed foreign earnings	$ 0.1

SEGMENT INFORMATION - Income St

SEGMENT INFORMATION - Income Statement Information (Details) $ in Millions	3 Months Ended
	Jan. 03, 2020USD ($)segment	Dec. 28, 2018USD ($)
Segment Reporting Information [Line Items]
Number of reportable operating segments | segment	2
Revenues, net	$ 200.1	$ 185.7
Gross margin	61.1	60
Total operating expenses	56.5	49.6
Interest and other income (expenses), net	(5.8)	(6.3)
Earnings before taxes	(1.2)	4.1
Taxes on earnings	0	1.1
Net (loss) earnings	(1.2)	3
Less: Net earnings attributable to noncontrolling interests	0.1	0
Net (loss) earnings attributable to Varex	(1.3)	3
Operating Segments | Medical
Segment Reporting Information [Line Items]
Revenues, net	155.6	143.9
Gross margin	43.8	45.1
Operating Segments | Industrial
Segment Reporting Information [Line Items]
Revenues, net	44.5	41.8
Gross margin	$ 17.3	$ 14.9

SEGMENT INFORMATION - Assets (D

SEGMENT INFORMATION - Assets (Details) - USD ($) $ in Millions	Jan. 03, 2020	Sep. 27, 2019
Segment Reporting Information [Line Items]
Identifiable assets	$ 1,068.4	$ 1,038.9
Medical | Operating Segments
Segment Reporting Information [Line Items]
Identifiable assets	830.8	794.3
Industrial | Operating Segments
Segment Reporting Information [Line Items]
Identifiable assets	$ 237.6	$ 244.6

Uncategorized Items - varex10q2

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (4,100,000)
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(600,000)
Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(600,000)
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(4,100,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(600,000)
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (4,100,000)