Varex Imaging (VREX) 10-K 19 Nov 21 2021 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Nov. 08, 2021	Apr. 02, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Oct. 1, 2021
Current Fiscal Year End Date	--10-01
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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Smaller Reporting Company	false
Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 584.8
Entity common stock, shares outstanding (in shares)		39,500,000
Documents Incorporated by Reference	Documents Incorporated by Reference Portions of registrant’s proxy statement relating to registrant’s 2022 annual meeting of stockholders have been incorporated by reference in Part III of this annual report on Form 10-K.
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Central Index Key	0001681622

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Income Statement [Abstract]
Revenues, net	$ 818.1	$ 738.3	$ 780.6
Cost of revenues	546.6	548.1	523.9
Gross profit	271.5	190.2	256.7
Operating expenses:
Research and development	71.9	78.9	78.1
Selling, general and administrative	125.5	142.2	128.1
Impairment of intangible assets	0	2.8	4.8
Total operating expenses	197.4	223.9	211
Operating income (loss)	74.1	(33.7)	45.7
Interest income	0.1	0.1	0.1
Interest expense	(42.1)	(31.4)	(21.1)
Other expense, net	(3.5)	(7.6)	(3.2)
Interest and other expense, net	(45.5)	(38.9)	(24.2)
Income (loss) before taxes	28.6	(72.6)	21.5
Income tax expense (benefit)	10.7	(15.2)	5.7
Net income (loss)	17.9	(57.4)	15.8
Less: Net income attributable to noncontrolling interests	0.5	0.5	0.3
Net income (loss) attributable to Varex	$ 17.4	$ (57.9)	$ 15.5
Net income (loss) per common share attributable to Varex
Basic (in USD per share)	$ 0.44	$ (1.49)	$ 0.41
Diluted (in USD per share)	$ 0.43	$ (1.49)	$ 0.40
Weighted average common shares outstanding
Basic (in shares)	39.3	38.8	38.2
Diluted (in shares)	40.3	38.8	38.6

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 17.9	$ (57.4)	$ 15.8
Other comprehensive income (loss), net of tax:
Unrealized gain on interest rate swap contracts, net of tax	0	0.4	(6.2)
Unrealized (loss) gain on defined benefit obligations	(0.1)	0.6	(1.3)
Foreign currency translation adjustments	(0.7)	1.5	0
Other Comprehensive Income (Loss), Net of Tax, Total	(0.8)	2.5	(7.5)
Comprehensive income (loss)	17.1	(54.9)	8.3
Less: Comprehensive income attributable to noncontrolling interests	0.5	0.5	0.3
Comprehensive income (loss) attributable to Varex	$ 16.6	$ (55.4)	$ 8

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Oct. 01, 2021	Oct. 02, 2020
Current assets:
Cash and cash equivalents	$ 144.6	$ 100.6
Accounts receivable, net of allowance for credit losses of $1.0 million and $0.3 million at October 1, 2021 and October 2, 2020, respectively	155.3	123.8
Inventories	224.8	271.9
Prepaid expenses and other current assets	29.5	25.7
Total current assets	554.2	522
Property, plant and equipment, net	140.2	145.2
Goodwill	292.2	293.1
Intangible assets, net	50.7	67.5
Investments in privately-held companies	49.3	51.3
Deferred tax assets	4	0.5
Operating lease assets	24.3	27.7
Other assets	32.6	32.2
Total assets	1,147.5	1,139.5
Current liabilities:
Accounts payable	58.8	72.9
Accrued liabilities and other current liabilities	89.7	70.5
Current operating lease liabilities	6.2	6.1
Current maturities of long-term debt	2.8	2.5
Deferred revenues	9.1	8.6
Total current liabilities	166.6	160.6
Long-term debt, net	431.7	452.8
Deferred tax liabilities	2.2	2.3
Operating lease liabilities	18.7	23.1
Other long-term liabilities	31.8	34.9
Total liabilities	651	673.7
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value: 20,000,000 shares authorized, none issued	0	0
Common stock, $.01 par value: 150,000,000 shares authorized, shares issued and outstanding: 39.435,830 and 39,059,094 at October 1, 2021 and October 2, 2020, respectively	0.4	0.4
Additional paid-in capital	449.4	434.4
Accumulated other comprehensive income	0	0.8
Retained earnings	33.5	16.1
Total Varex stockholders' equity	483.3	451.7
Noncontrolling interests	13.2	14.1
Total stockholders' equity	496.5	465.8
Total liabilities and stockholders' equity	$ 1,147.5	$ 1,139.5

CONSOLIDATED BALANCE SHEETS (PA

CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - USD ($) $ in Millions	Oct. 01, 2021	Oct. 02, 2020
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 1	$ 0.3
Preferred stock, par value per share (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 (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)	39,435,830	39,059,094
Common stock, shares, outstanding (in shares)	39,435,830	39,059,094

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Cash flows from operating activities:
Net income (loss)	$ 17.9	$ (57.4)	$ 15.8
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Share-based compensation expense	13.9	13.4	11.7
Depreciation	20.5	22.3	23.5
Amortization of intangible assets	16.8	17.2	15.7
Intangible assets impairment	0	2.8	4.8
Other assets impairment charges	0.5	2.7	0
Inventory write-down	3.5	18.1	3.1
Deferred taxes	(3)	(3.1)	(12.9)
Amortization of deferred loan costs	10	5.1	2.4
Loss from equity method investments, net of dividends received	3	1.3	2.3
Other, net	1.3	4.7	0.8
Changes in assets and liabilities, net of effects of acquisitions:
Accounts receivable	(32.9)	17.7	14.8
Inventories	42.8	(42.7)	(11.1)
Prepaid expenses and other assets	(0.9)	(9.3)	4.3
Accounts payable	(13.6)	14.3	(9)
Accrued operating liabilities and other long-term operating liabilities	12.2	8.1	10.9
Deferred revenues	0.6	(2)	(5.2)
Net cash provided by operating activities	92.6	13.2	71.9
Cash flows from investing activities:
Purchases of property, plant and equipment	(15.1)	(23.5)	(19.8)
Acquisitions of businesses, net of cash acquired	0	(1.6)	(69.5)
Investments in privately-held companies	(1.4)	(1.8)	(3.9)
Other	0.3	0	0
Net cash used in investing activities	(16.2)	(26.9)	(93.2)
Cash flows from financing activities:
Proceeds from issuance of debt	1.5	593.8	85.4
Repayments of borrowings	(33.1)	(483.9)	(87)
Payment of debt issuance costs	0	(16.7)	(0.5)
Proceeds from issuance of warrant	0	49.8	0
Purchases of hedges	0	(61)	0
Proceeds from shares issued under employee stock purchase plan	2.8	3.6	3.8
Proceeds from exercise of stock options	0	1.5	0.8
Taxes related to net share settlement of equity awards	(1.5)	(1.8)	(2.1)
Other financing activities	(2)	(1.7)	(0.5)
Net cash (used in) provided by financing activities	(32.3)	83.6	(0.1)
Effects of exchange rate changes on cash and cash equivalents and restricted cash	(0.1)	0.9	(0.7)
Net increase (decrease) in cash and cash equivalents and restricted cash	44	70.8	(22.1)
Cash and cash equivalents and restricted cash at beginning of period	102.1	31.3	53.4
Cash and cash equivalents and restricted cash at end of period	146.1	102.1	31.3
Supplemental cash flow information:
Cash paid for interest	21.6	16.7	19.9
Cash paid for income tax, net of refunds	14.1	4.2	8.2
Supplemental non-cash activities:
Purchases of property, plant and equipment financed through accounts payable	$ 1.5	$ 1.6	$ 1.8

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Total Varex Equity	Total Varex EquityCumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	Noncontrolling Interests
Shares outstanding, beginning of period (in shares) at Sep. 28, 2018					38,000,000
Balance at beginning of period at Sep. 28, 2018	$ 428.3		$ 426.2		$ 0.4	$ 357.6	$ 5.8	$ 62.4		$ 2.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	15.3		15.5					15.5		(0.2)
Exercise of stock options (in shares)					0
Exercise of stock options	0.8		0.8			0.8
Common stock issued upon vesting of restricted shares (in shares)					200,000
Shares withheld on vesting of restricted stock (in shares)					0
Shares withheld on vesting of restricted stock	(2.1)		(2.1)			(2.1)
Common stock issued under employee stock purchase plan (in shares)					200,000
Common stock issued under employee stock purchase plan	3.8		3.8			3.8
Share-based compensation	11.7		11.7			11.7
Unrealized gain on interest rate swap contracts, net of tax	(6.2)		(6.2)				(6.2)
Unrealized loss on defined benefit obligations, net of tax	(1.3)		(1.3)				(1.3)
Noncontrolling interest acquired/consolidated	1.4									1.4
Shares outstanding, end of period (in shares) at Sep. 27, 2019					38,400,000
Ending balance at Sep. 27, 2019	448.2	$ (3.5)	444.9	$ (3.5)	$ 0.4	371.8	(1.7)	74.4	$ (3.5)	3.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	(57.9)		(57.9)					(57.9)		0
Exercise of stock options (in shares)					100,000
Exercise of stock options	1.5		1.5			1.5
Common stock issued upon vesting of restricted shares (in shares)					200,000
Shares withheld on vesting of restricted stock (in shares)					(100,000)
Shares withheld on vesting of restricted stock	(1.8)		(1.8)			(1.8)
Common stock issued under employee stock purchase plan (in shares)					200,000
Common stock issued under employee stock purchase plan	3.6		3.6			3.6
Share-based compensation	13.4		13.4			13.4
Unrealized gain on interest rate swap contracts, net of tax	0.4		0.4				0.4
Unrealized loss on defined benefit obligations, net of tax	0.6		0.6				0.6
Conversion feature of Convertible Notes, net of issuance costs	49.7		49.7			49.7
Purchase of hedges	(61)		(61)			(61)
Issuance of warrants	49.8		49.8			49.8
Foreign currency translation adjustments	1.5		1.5				1.5
Shares issued to settle deferred compensation (in shares)					300,000
Shares issued to settle deferred consideration	7.4		7.4			7.4
Reclassification from mezzanine equity to equity for noncontrolling interest in MeVis Medical Solutions, AG	11.3									11.3
Other	$ (0.6)		(0.1)					(0.1)		(0.5)
Shares outstanding, end of period (in shares) at Oct. 02, 2020	39,059,094				39,100,000
Ending balance at Oct. 02, 2020	$ 465.8	$ (0.3)	451.7	$ (0.3)	$ 0.4	434.4	0.8	16.1	$ (0.3)	14.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	17.9		17.4					17.4		0.5
Common stock issued upon vesting of restricted shares (in shares)					200,000
Shares withheld on vesting of restricted stock (in shares)					(100,000)
Shares withheld on vesting of restricted stock	(1.5)		(1.5)			(1.5)
Common stock issued under employee stock purchase plan (in shares)					200,000
Common stock issued under employee stock purchase plan	2.8		2.8			2.8
Share-based compensation	13.9		13.9			13.9
Unrealized gain on interest rate swap contracts, net of tax	0
Unrealized loss on defined benefit obligations, net of tax	(0.1)		(0.1)				(0.1)
Foreign currency translation adjustments	(0.7)		(0.7)				(0.7)
Reclassification from mezzanine equity to equity for noncontrolling interest in MeVis Medical Solutions, AG										0
Other	$ (1.6)		(0.2)			(0.2)				(1.4)
Shares outstanding, end of period (in shares) at Oct. 01, 2021	39,435,830				39,400,000
Ending balance at Oct. 01, 2021	$ 496.5		$ 483.3		$ 0.4	$ 449.4	$ 0	$ 33.5		$ 13.2

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Oct. 01, 2021
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 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, to independent service companies, distributors and directly to end-users for replacement purposes. The Company also designs, manufactures, 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. Basis of Presentation The accompanying consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the SEC and prepared in accordance with accounting principles generally accepted in the United States ("GAAP"). The Company has consolidated all the majority owned subsidiaries and entities over which we have control. All intercompany balances and transactions have been eliminated in consolidation. Segment Reporting The Company has two reportable operating segments; (i) Medical and (ii) Industrial. See Note 17. Segment Information, included in this report, for further information on the Company’s segments. 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 2021 was the 52-week period that ended October 1, 2021, fiscal year 2020 was the 53-week period that ended October 2, 2020, and fiscal year 2019 was the 52-week period that ended September 27, 2019. Variable Interest Entities For entities in which the Company has variable interests, the Company focuses on identifying which entity has the power to direct the activities that most significantly impact the variable interest entity’s economic performance and which entity has the obligation to absorb losses or the right to receive residual returns from the variable interest entity. If the Company is the primary beneficiary of a variable interest entity, the assets, liabilities and results of operations of the variable interest entity will be included in the Company’s consolidated financial statements. As of October 1, 2021, the Company had variable interests in two entities, neither of which were consolidated by the Company. 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Such estimates include the valuation of inventories, valuation of goodwill and intangible assets, warranties, contract liabilities, long-lived asset valuations, impairment on investments, valuation of financial instruments, and taxes on income. Actual results could differ from these estimates. Impact of COVID-19 The coronavirus (“COVID-19”) pandemic, the emerging variants and uneven vaccination rates across the globe, and the mitigation efforts by governments to control its spread have created uncertainties and disruptions in the economic and financial markets. The extent to which COVID-19 will continue to impact the Company’s business and financial results depends on numerous evolving factors including: the magnitude and duration of COVID-19, the extent to which it will impact worldwide macroeconomic conditions including interest rates and unemployment rates, the speed of the economic recovery, and governmental and business reactions to the pandemic. The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company, including the estimated future impacts of COVID-19 through the date of filing this report. The accounting matters assessed included, but were not limited to, the Company’s carrying value of goodwill, intangibles, long-lived assets, equity method investments, inventory and related reserves, and allowance for credit losses. The Company’s assessment of the magnitude and duration of COVID-19, as well as other factors, could result in material negative impacts to the Company’s consolidated financial statements in future reporting periods. These future developments are highly uncertain and the outcomes cannot be estimated with certainty. Actual results may differ from those estimates, and such differences may be material to the financial statements. Cash and Cash Equivalents The Company considers currency on hand, demand deposits, time deposits and all highly-liquid investments with an original maturity of three months or less at the date of purchase to be cash and cash equivalents. 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 consolidated balance sheets. Cash and cash equivalents and restricted cash as reported within the consolidated statements of cash flows consisted of the following: Twelve Months Ended October 1, 2021 Twelve Months Ended October 2, 2020 (In millions) Beginning of Period End of Period Beginning of Period End of Period Cash and cash equivalents $ 100.6 $ 144.6 $ 29.9 $ 100.6 Restricted cash 1.5 1.5 1.4 1.5 Cash and cash equivalents and restricted cash as reported per statement of cash flows $ 102.1 $ 146.1 $ 31.3 $ 102.1 Fair Value Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. There is a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: Level 1—Quoted prices in active markets for identical assets or liabilities. Level 2—Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or, other inputs that are observable or can be corroborated by observable market data. Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Derivative instruments and hedging activities The Company records all derivatives on the consolidated balance sheets at fair value as of the reporting date. For derivative instruments that are designated and qualify as cash flow hedges, the gain or loss on the derivative is reported as a component of other comprehensive income or loss and reclassified from accumulated other comprehensive income into earnings when the hedged transaction affects earnings. For derivatives that are designated and qualify as net investment hedges, the gain or loss on the derivative is reported as a component of other comprehensive income or loss until the hedged item is sold. The portion of the change in fair value of the Company's net investment hedges (or cross currency swaps) related to the cross-currency basis spread is an excluded component in the assessment of the effectiveness of these net investment hedges (or cross currency swaps). 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, in which case, a quantitative assessment of hedge effectiveness is performed. 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. Credit is extended to customers based on an evaluation of the customer’s financial condition, and collateral is not required. In certain circumstances, a customer may be required to prepay all or a portion of the contract price prior to transfer of control. During the periods presented, one of the Company's customers accounted for a significant portion of revenues, which is as follows: Fiscal Year 2021 2020 2019 Canon Medical Systems Corporation 17.9 % 20.5 % 17.3 % Canon Medical Systems Corporation accounted for 16.2% and 12.0% of the Company’s accounts receivable as of October 1, 2021 and October 2, 2020, respectively. Inventories Inventories are valued at the lower of cost or net realizable value. Costs include materials, labor, external service, and manufacturing overhead and is computed on a first-in-first-out basis. The Company evaluates the carrying value of its inventories taking into consideration such factors as historical and anticipated future sales compared to quantities on hand and the prices the Company expects to obtain for products in its various markets. The Company adjusts excess and obsolete inventories to net realizable value and write-downs of excess and obsolete inventories are recorded as a component of cost of revenues. The following table summarizes the Company’s inventories, net: (In millions) October 1, 2021 October 2, 2020 Raw materials and parts $ 168.0 $ 184.6 Work-in-process 20.4 23.9 Finished goods 36.4 63.4 Total inventories $ 224.8 $ 271.9 As a result of the economic downturn resulting from COVID-19, the Company discontinued certain products and wrote-down inventory associated with these discontinued products by $3.5 million and $15.8 million for the twelve months ended October 1, 2021 and October 2, 2020, respectively. Property, Plant and Equipment, net Property, plant and equipment are stated at cost, net of accumulated depreciation. Major improvements are capitalized, while repairs and maintenance are expensed as incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the assets or remaining lease term. Land is not subject to depreciation, but land improvements are depreciated over fifteen years. Land leasehold rights and leasehold improvements are depreciated over the lesser of their estimated useful lives or remaining lease terms. Buildings are depreciated up to thirty years. Machinery and equipment are depreciated over a range from three amounts. When assets are retired or otherwise disposed of, the assets and related accumulated depreciation are removed from the accounts. The following table summarizes the Company’s property, plant and equipment, net: (In millions) October 1, 2021 October 2, 2020 Land $ 8.3 $ 8.3 Buildings and leasehold improvements 148.7 137.2 Machinery and equipment 179.7 175.5 Construction in progress 18.1 35.4 354.8 356.4 Accumulated depreciation and amortization (214.6) (211.2) Property, plant, and equipment, net $ 140.2 $ 145.2 The Company recorded depreciation expense of $20.5 million, $22.3 million and $23.5 million, in fiscal years 2021, 2020 and 2019, respectively. During fiscal years 2021, 2020 and 2019 the Company recorded accelerated depreciation of $0.2 million, $2.9 million and $4.5 million, respectively, which primarily related to the machinery and equipment used at the Santa Clara, California facility. See Note 6. Restructuring , included in this report, for further information. Investments The Company accounts for its equity investments in privately-held companies under the equity method of accounting if the Company has the ability to exercise significant influence in these investments. Distributions received from an equity method investment are classified using the cumulative earnings approach, which means that distributions up to the amount of cumulative equity in earnings recognized will be treated as returns on investment and classified as operating cash flows and those in excess of that amount will be treated as returns of investment and classified as investing cash flows. The Company reviews its equity investments in privately-held companies for impairment whenever events or changes in business circumstances are other than temporary and indicate that the carrying amount of the investments may not be fully recoverable. There were no impairments recorded during the fiscal year 2021. During the fiscal year 2020, the Company wrote off a $2.7 million cost investment in a privately-held company, the related expense is included as part of other expenses, net in the Company's consolidated financial statements. Goodwill and Intangible Assets Goodwill is recorded when the purchase price of an acquisition exceeds the fair value of the net identified tangible and intangible assets acquired. Purchased intangible assets are carried at cost, net of accumulated amortization, and are included in intangible assets in the Company's consolidated balance sheets. Intangible assets with finite lives are amortized over their estimated useful lives of primarily two Impairment of Long-lived Assets, Intangible Assets and Goodwill The Company reviews long-lived assets and identifiable intangible assets with finite lives for impairment whenever events or changes in circumstances indicate that the carrying amount of these assets may not be recoverable. The Company assesses these assets for impairment based on their estimated undiscounted future cash flows. If the carrying value of the assets exceeds the estimated future undiscounted cash flows, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. The Company evaluates goodwill and indefinite lived intangible assets for impairment at least annually at the beginning of the fourth quarter of each fiscal year or whenever an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The evaluation includes consideration of qualitative factors including industry and market considerations, overall financial performance, and other relevant events and factors affecting the reporting unit. If the Company determine that a quantitative analysis is necessary, the Company performs a step one analysis, which consists of a comparison of the fair value of a reporting unit against its carrying amount, including the goodwill allocated to each reporting unit. The Company determines the fair value of its reporting units based on a combination of income and market approaches. The income approach is based on the present value of estimated future cash flows of the reporting units, and the market approach is based on a market multiple calculated for each reporting unit based on market data of other companies engaged in similar business. If the carrying amount of the reporting unit is in excess of its fair value, the difference between the fair value and carrying amount is recorded as an impairment loss. The impairment test for intangible assets with indefinite useful lives, if any, consists of a comparison of fair value to carrying value, with any excess of carrying value over fair value being recorded as an impairment loss. In fiscal years 2021, 2020 and 2019, the Company performed the annual goodwill impairment test for our two reporting units and found no impairment. During the fiscal years ended October 1, 2021, October 2, 2020 and September 27, 2019, the Company recognized $0.0 million, $2.8 million, and $4.8 million of impairments of intangible assets, respectively. Loss Contingencies From time to time, the Company is 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. When a loss contingency is probable but not reasonably estimable the nature of the contingency and the fact that an estimate cannot be made is disclosed. See Note 13. Commitments and Contingencies, for further information regarding certain of our contractual obligations and contingencies. 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, estimates include the historical experience of similar products, as well as 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: Fiscal Years (In millions) 2021 2020 Accrued product warranty, at beginning of period $ 8.1 $ 8.1 Charged to cost of revenues 13.0 15.1 Actual product warranty expenditures (12.6) (15.1) Accrued product warranty, at end of period $ 8.5 $ 8.1 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 represent 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 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 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. Revenue Recognition Effective September 29, 2018, the Company adopted the requirements of Accounting Standards Update (“ASU”) 2014-09 and related amendments, Revenue from Contracts with Customers (“ASC 606”), which superseded all prior revenue recognition methods and industry-specific guidance. 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 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. The Company determines revenue recognition through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, a performance obligation is satisfied 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. 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. Recognition of revenue 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 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. Refer to Note 17. Segment Information, included in this report, for the disaggregation of the Company’s revenue based on reportable operating segments and disaggregated by geographic region. Contract Balances Contract assets are included within the Prepaid expenses and other current assets, and Other assets balances in the consolidated balance sheets. 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 in the consolidated balance sheets. 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. Deferred Revenues Deferred revenue primarily represents (i) the amount received applicable to non-software products for which parts and services under the warranty contracts have not been delivered, and (ii) the amount received for service contracts for which the services have not been rendered. Allowance for Credit Losses The Company evaluates the creditworthiness of customers prior to authorizing shipment for all major sale transactions. On a quarterly basis, the Company considers historical trends, current information and any reasonable and supportable forecasts to determine if an amount should be included in the allowance for credit losses. The Company had an allowance for credit losses of $1.0 million and $0.3 million as of October 1, 2021 and October 2, 2020, respectively. Share-Based Compensation Expense The Company has an equity-based incentive plan that provides for the grant of nonqualified stock options and restricted stock units to directors, officers and other employees. The Company also permits employees to purchase shares under the Varex employee stock purchase plan. The Company values stock options granted and the option component of the shares of common stock purchased under the equity-based incentive plans and stock purchased under the employee stock purchase plan using the Black-Scholes option-pricing model. Share-based compensation expense for restricted stock units is measured using the fair value of the Company’s stock on the date of grant and is amortized over the award’s respective service period. The Black-Scholes option-pricing model requires the input of certain assumptions, and changes in the assumptions can materially affect the fair value estimates of share-based payment awards. The Company measures and recognizes expense for all share-based payment awards based on their fair values. Share-based compensation expense recognized in the consolidated statements of operations includes compensation expense for the share-based payment awards based on the grant date fair value estimated in accordance with the guidance on share-based compensation. The Company records forfeitures as they occur. The Company attributes the value of share-based compensation to expense using the straight-line method. The Company considers only the direct tax impacts of share-based compensation awards when calculating the amount of tax windfalls or shortfalls. For additional information, see Note 15. Employee Stock Plans , included in this report. Software Development Costs Costs for the development of new software products and substantial enhancements to existing software products are expensed as incurred until technological feasibility has been established, at which time any additional costs would be capitalized. No costs associated with the development of software have been capitalized, as the Company believes its current software development process is essentially completed concurrent with the establishment of technological feasibility. Research and Development Research and development costs are expensed as incurred. These costs primarily include employees’ compensation, consulting fees and material costs. Taxes on Income Current income tax expense or benefit is the amount of income taxes expected to be payable or receivable for the current year. Deferred income tax liabilities or assets are established for the expected future tax consequences resulting from the differences in financial reporting and tax bases of assets and liabilities. Future changes in tax regulation can have a material impact, including tax rate changes or the realization of deferred tax assets. A valuation allowance is provided if it is more likely than not that some or all of the deferred tax assets will not be realized. U.S. Tax Reform introduced a limitation of business interest deduction under IRC Section 163(j), which may be difficult to utilize without significant taxable income. Also, net operating loss carryforwards in jurisdictions with current losses provide uncertainty for realization. In addition, we provide reserves for uncertain tax positions when such tax positions do not meet the recognition thresholds or measurement standards prescribed by the authoritative guidance for accounting for income taxes. A portion of the U.S. general business tax credits for research outside of the financial statement line for research and development ("R&D") have a small degree of uncertainty. A reasonable reserve is maintained on the uncertain portion until either the Internal Revenue Service chooses to audit, or the statute of limitation expires. A reserve for R&D is typical for companies who calculate and utilize this general business credit. Amounts for un

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
	Oct. 01, 2021
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION The following tables summarize the changes in the contract assets and refund liabilities for the twelve months ended October 1, 2021 and October 2, 2020: (In millions) Contract Assets Balance at September 27, 2019 $ 23.7 Costs recovered from product returns during the period (5.6) Contract asset from shipments of products, subject to return during the period 6.5 Balance at October 2, 2020 $ 24.6 Costs recovered from product returns during the period (4.8) Contract asset from shipments of products, subject to return during the period 6.4 Adjustment for actual vs reserved product returns (1.9) Balance at October 1, 2021 $ 24.3 (In millions) Refund Liabilities Balance at September 27, 2019 $ 26.4 Release of refund liability included in beginning of year refund liability (6.2) Additions to refund liabilities 7.2 Balance at October 2, 2020 $ 27.4 Release of refund liability included in beginning of year refund liability (5.3) Additions to refund liabilities 7.1 Adjustment for actual vs reserved product returns (2.2) Balance at October 1, 2021 $ 27.0 During fiscal year 2021, the Company recognized revenue of $6.9 million related to deferred revenue which existed at October 2, 2020. During fiscal year 2020, the Company recognized revenue of $8.4 million related to deferred revenue which existed at September 27, 2019. Remaining Performance Obligations Remaining performance obligations represent the transaction price of firm orders for which revenue has not yet been recognized, which are primarily related to contracts where control will be transferred to customers over the next 12 months. See Note 1. Summary of Significant Accounting Policies, for details on the nature of the remaining performance obligations within these contracts and how they will be resolved.

LEASES

LEASES	12 Months Ended
	Oct. 01, 2021
Leases [Abstract]
LEASES	LEASES On September 28, 2019, the Company adopted ASC 842, which 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 six 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, the Company's 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: (In millions) Balance Sheet Location October 1, 2021 October 2, 2020 Assets Operating lease right-of-use assets Operating lease assets $ 24.3 $ 27.7 Finance lease right-of-use assets Property, plant and equipment, net 0.5 0.5 Liabilities Operating lease liabilities (current) Current operating lease liabilities 6.2 6.1 Finance lease liabilities (current) Accrued liabilities and other current liabilities 0.2 0.2 Operating lease liabilities (non-current) Operating lease liabilities 18.7 23.1 Finance lease liabilities (non-current) Other long-term liabilities $ 0.3 $ 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: October 1, 2021 October 2, 2020 Operating lease weighted average remaining lease term (in years) 5.9 6.6 Operating lease weighted average discount rate 5.5 % 4.5 % Finance lease weighted average remaining lease term (in years) 2.5 3.3 Finance lease weighted average discount rate 3.6 % 4.1 % The following table provides information related to the Company’s operating and finance leases: (In millions) October 1, 2021 October 2, 2020 Total operating lease costs (a) $ 8.1 $ 8.4 Total finance lease costs $ 0.3 $ 0.3 Operating cash flows from operating leases $ 7.9 $ 8.0 Financing cash flows from finance leases 0.2 0.3 Total cash paid for amounts included in the measurement of lease liabilities $ 8.1 $ 8.3 Noncash operating right-of-use assets obtained in exchange for new lease liabilities (b) $ 5.6 $ 10.6 Noncash finance right-of-use assets obtained in exchange for new lease liabilities (b) 0.2 0.2 Total right-of-use assets obtained in exchange for new lease liabilities (b) $ 5.8 $ 10.8 (a) Includes variable and short-term lease expense, which were immaterial for fiscal year 2021 and 2020. (b) Excludes the impact of adopting the new leases standard in the first quarter of 2020. For fiscal year 2019, the Company's lease expense was $5.1 million. As of October 1, 2021, 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 2022 $ 7.4 $ 0.2 2023 4.9 0.2 2024 4.1 0.1 2025 3.9 — 2026 2.4 — Thereafter 6.7 — Total future lease payments $ 29.4 $ 0.5 Less: imputed interest (4.5) — Present value of lease liabilities $ 24.9 $ 0.5 As of October 1, 2021
LEASES	LEASES On September 28, 2019, the Company adopted ASC 842, which 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 six 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, the Company's 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: (In millions) Balance Sheet Location October 1, 2021 October 2, 2020 Assets Operating lease right-of-use assets Operating lease assets $ 24.3 $ 27.7 Finance lease right-of-use assets Property, plant and equipment, net 0.5 0.5 Liabilities Operating lease liabilities (current) Current operating lease liabilities 6.2 6.1 Finance lease liabilities (current) Accrued liabilities and other current liabilities 0.2 0.2 Operating lease liabilities (non-current) Operating lease liabilities 18.7 23.1 Finance lease liabilities (non-current) Other long-term liabilities $ 0.3 $ 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: October 1, 2021 October 2, 2020 Operating lease weighted average remaining lease term (in years) 5.9 6.6 Operating lease weighted average discount rate 5.5 % 4.5 % Finance lease weighted average remaining lease term (in years) 2.5 3.3 Finance lease weighted average discount rate 3.6 % 4.1 % The following table provides information related to the Company’s operating and finance leases: (In millions) October 1, 2021 October 2, 2020 Total operating lease costs (a) $ 8.1 $ 8.4 Total finance lease costs $ 0.3 $ 0.3 Operating cash flows from operating leases $ 7.9 $ 8.0 Financing cash flows from finance leases 0.2 0.3 Total cash paid for amounts included in the measurement of lease liabilities $ 8.1 $ 8.3 Noncash operating right-of-use assets obtained in exchange for new lease liabilities (b) $ 5.6 $ 10.6 Noncash finance right-of-use assets obtained in exchange for new lease liabilities (b) 0.2 0.2 Total right-of-use assets obtained in exchange for new lease liabilities (b) $ 5.8 $ 10.8 (a) Includes variable and short-term lease expense, which were immaterial for fiscal year 2021 and 2020. (b) Excludes the impact of adopting the new leases standard in the first quarter of 2020. For fiscal year 2019, the Company's lease expense was $5.1 million. As of October 1, 2021, 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 2022 $ 7.4 $ 0.2 2023 4.9 0.2 2024 4.1 0.1 2025 3.9 — 2026 2.4 — Thereafter 6.7 — Total future lease payments $ 29.4 $ 0.5 Less: imputed interest (4.5) — Present value of lease liabilities $ 24.9 $ 0.5 As of October 1, 2021

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	12 Months Ended
	Oct. 01, 2021
Business Combinations [Abstract]
BUSINESS COMBINATIONS	BUSINESS COMBINATIONS Acquisition of Direct Conversion AB In April 2019, Varex completed the acquisition of 98.2% of the outstanding shares of common stock of Direct Conversion AB (publ) (“Direct Conversion”). In April 2021, the Company acquired all of the remaining shares representing the noncontrolling interests in Direct Conversion such that the Company now owns 100% of the outstanding shares of common stock of Direct Conversion. The acquisition of Direct Conversion expanded our detector product portfolio to include photon counting technology. This technology allows Varex to expand its range of imaging applications and offer new solutions to both Medical and Industrial customers. The following amounts represent revenues by reporting segment from Direct Conversion from the acquisition date of April 29, 2019, through September 27, 2019: (In millions) Direct Conversion Revenue Medical $ 4.5 Industrial 1.8 Total Direct Conversion revenues $ 6.3 The acquisition of Direct Conversion did not have a significant impact on the Company's consolidated results of operations on a pro forma basis for fiscal year 2019.

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	12 Months Ended
	Oct. 01, 2021
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 holding company 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 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. In fiscal years 2021, 2020 and 2019, the Company recorded a loss on the equity investment in dpiX Holding of $(2.3) million, $(0.8) million and $(1.1) million, respectively. Loss on the equity investment in dpiX Holding is included in other expense, net in the consolidated statements of operations. The carrying value of the equity investment in dpiX Holding was $45.0 million and $47.3 million at October 1, 2021 and October 2, 2020, respectively. In fiscal years 2021, 2020 and 2019, the Company purchased glass transistor arrays from dpiX totaling $18.5 million, $20.4 million and $23.5 million, respectively. These purchases of glass transistor arrays are included as a component of inventories on the consolidated balance sheets or cost of revenues in the consolidated statements of operations. As of October 1, 2021 and October 2, 2020, the Company had accounts payable to dpiX totaling $2.8 million and $4.6 million, respectively. The Company has the right to 50% of dpiX’s total manufacturing capacity. In addition, the Company is required to pay for 50% of dpiX's fixed costs, as determined at the beginning of each calendar year. In January 2021, the fixed cost commitment was determined and approved by the dpiX board of directors to be $11.6 million for calendar year 2021. As of October 1, 2021, the Company estimated it has fixed cost commitments of $2.9 million related to this amended agreement through the remainder of calendar year 2021. The amended agreement will continue unless the ownership structure of dpiX changes (as defined in the amended agreement). The Company has determined that dpiX Holding 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 unilaterally direct the activities of dpiX Holding and therefore is not the primary beneficiary of dpiX Holding. The Company’s exposure to loss as a result of its involvement with dpiX Holding is limited to the carrying value of the Company’s investment of $45.0 million and fixed cost commitments. In November 2018, the Company (through one of its wholly-owned subsidiaries) and CETTEEN GmbH (“CETTEEN”), formed a German limited liability company that governs the affairs and conduct of the business of VEC Imaging GmbH & Co. KG (“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 of accounting. As of October 1, 2021, the Company has made equity contributions totaling

RESTRUCTURING

RESTRUCTURING	12 Months Ended
	Oct. 01, 2021
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING In July 2018, the Company committed 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 ceased all operations at the Santa Clara facility as of October 2, 2020 and all activities related to the closure of the facility were completed by the end of December 2020. In connection with the relocation of the glass production and site closure, the Company recorded $0.0 million, $9.1 million and $18.9 million of restructuring charges during fiscal year 2021, 2020 and 2019, respectively. On July 29, 2020, the Company commenced the implementation of a reduction in workforce to reduce the Company’s operating costs and address the impact of the COVID-19 pandemic. This action resulted in the reduction of the Company’s workforce by approximately 94 employees, of which nearly all were located within the United States. This reduction was in addition to the reduction in workforce associated with the closure of the Company’s Santa Clara facility. 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 2021, 2020 and 2019 fiscal years, which predominately relate to the Company's Medical segment: (In millions) Location of Restructuring Charges in Consolidated Statements of Operations 2021 2020 2019 Inventory write downs Cost of revenues $ — $ 1.3 $ 3.1 Intangible assets impairment Impairment of intangible assets — — 4.8 Accelerated depreciation Cost of revenues 0.2 2.9 4.5 Severance costs Selling, general and administrative 0.6 5.7 6.2 Facility closure costs Selling, general and administrative 0.2 3.6 0.3 Total restructuring charges $ 1.0 $ 13.5 $ 18.9

OTHER FINANCIAL INFORMATION

OTHER FINANCIAL INFORMATION	12 Months Ended
	Oct. 01, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
OTHER FINANCIAL INFORMATION	OTHER FINANCIAL INFORMATION The following table summarizes the Company’s accrued liabilities and other current liabilities: (In millions) October 1, 2021 October 2, 2020 Accrued compensation and benefits $ 44.2 $ 33.0 Product warranty 8.5 8.1 Income taxes payable 8.0 5.6 Right of return liability 6.7 7.4 Accrued interest 12.5 2.6 Other 9.8 13.8 Total accrued liabilities and other current liabilities $ 89.7 $ 70.5 The following table summarizes the Company’s other long-term liabilities: (In millions) October 1, 2021 October 2, 2020 Long-term income tax payable $ 1.8 $ 3.9 Environmental liabilities 0.6 0.8 Defined benefit obligation liability 5.9 6.5 Long-term right of return liability 20.3 19.9 Long-term other 3.2 3.8 Total other long-term liabilities $ 31.8 $ 34.9 The following table summarizes the Company’s other (expense) income, net: Fiscal Years (In millions) 2021 2020 2019 Loss from equity method investments $ (3.4) $ (2.1) $ (2.3) Change in fair value of deferred consideration — 0.9 1.0 Impairment of investment — (2.7) — Realized loss on foreign currencies (0.2) (3.7) (1.9) Other 0.1 — — Total other expense, net $ (3.5) $ (7.6) $ (3.2)

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE	12 Months Ended
	Oct. 01, 2021
Earnings Per Share [Abstract]
NET INCOME (LOSS) PER SHARE	NET INCOME (LOSS) PER SHARE Basic net income (loss) per common share is computed by dividing the net income (loss) for the period by the weighted average number of shares of common stock outstanding during the reporting period. Diluted net income (loss) per common share reflects the effects of potentially dilutive securities, which is computed by dividing net income (loss) by the sum of the weighted average number of common shares outstanding and dilutive common shares. A reconciliation of the numerator and denominator used in the calculation of basic and diluted income per common share is as follows: Fiscal Year (In millions, except per share amounts) 2021 2020 2019 Net income (loss) attributable to Varex $ 17.4 $ (57.9) $ 15.5 Weighted average shares outstanding - basic 39.3 38.8 38.2 Dilutive effect of Convertible Senior Notes 0.6 — — Dilutive effect of share-based awards and other 0.4 — 0.4 Weighted average shares outstanding - diluted 40.3 38.8 38.6 Net income (loss) per share attributable to Varex - basic $ 0.44 $ (1.49) $ 0.41 Net income (loss) per share attributable to Varex - diluted $ 0.43 $ (1.49) $ 0.40 Anti-dilutive share-based awards, excluded 2.8 3.5 1.9 Potentially dilutive shares, which are based on the weighted-average shares of common stock underlying stock options, unvested stock awards, purchase rights granted under the employee stock purchase plan, warrants and convertible notes using the treasury stock method or the if-converted method, as applicable, are included when calculating diluted net income (loss) per share attributable to Varex when their effect is dilutive. Since we intend to settle in cash the principal outstanding under our 4.00% Convertible Senior Notes due in 2025, we apply the treasury stock method applied using our average share price during the period when calculating their potential dilutive effect, if any. Furthermore, in connection with the offerings of our notes, we entered into convertible note hedges and warrants (see Note 10. Borrowings ). However, our convertible note hedges are not included when calculating potentially dilutive shares since their effect is always anti-dilutive. Warrants, which have a strike price above our average share price during the period, were out of the money and were not included in the tables above. Because the Company incurred a net loss for fiscal year 2020, none of the potentially dilutive common shares were included in the diluted share calculation for that period as they would have been anti-dilutive.

FINANCIAL DERIVATIVES AND HEDGI

FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES	12 Months Ended
	Oct. 01, 2021
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, in which case the Company would test for effectiveness on a more frequent basis. The changes in fair value for all trades that are not designated for hedge accounting are recognized in current period income. 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 previously used interest rate swap contracts as cash flow hedges to manage its exposure to fluctuations in LIBOR interest rates. Interest rate swap contracts effectively fix the LIBOR component of variable interest rate debt for a specific period of time. As of October 1, 2021, the Company had no outstanding derivatives designated as cash flow hedging instruments. The following table summarizes the amount of pre-tax income (loss) recognized from derivative instruments for the periods indicated: Amount of Gain or (Loss) Recognized in OCI on Derivatives Location of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (In millions) 2021 2020 2019 2021 2020 2019 Interest rate swap contracts $ — $ (3.4) $ (6.3) Interest expense $ — $ (1.5) $ 1.9 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 majority-owned international operations. All changes in fair value of the derivatives designated as net investment hedges are reported in accumulated other comprehensive income along with the foreign currency translation adjustments on those investments. In September 2020, the Company terminated one of the net investment swaps and the loss on the swap was recorded in accumulated other comprehensive income where it will remain until substantial liquidation of the international operations. As of October 1, 2021, 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 3 $ 66.6 The following table summarizes the amount of pre-tax income 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 or (Loss) Recognized in OCI on Derivatives 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) 2021 2020 2019 2021 2020 2019 Cross currency swap contracts $ (0.3) $ (1.3) $ (0.2) Interest expense $ 1.3 $ 1.5 $ 0.2 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: Derivative Assets Derivative Liabilities (In millions) October 1, 2021 October 2, 2020 October 1, 2021 October 2, 2020 Derivatives designated as net investment hedges Balance sheet location Balance sheet location Cross currency swap contracts Other current assets $ 1.2 $ 1.3 Other current liabilities $ — $ — Cross currency swap contracts Other non-current assets — — Other non-current liabilities (2.4) (2.1) $ 1.2 $ 1.3 $ (2.4) $ (2.1)

BORROWINGS

BORROWINGS	12 Months Ended
	Oct. 01, 2021
Debt Disclosure [Abstract]
BORROWINGS	BORROWINGS The following table summarizes the Company's short-term and long-term debt: October 1, 2021 October 2, 2020 (In millions, except for percentages) Amount Weighted-Avg Effective Interest Rate Amount Weighted-Avg Effective Interest Rate $ Change Current maturities of long-term debt Other debt $ 2.8 $ 2.5 $ 0.3 Total current maturities of long-term debt $ 2.8 $ 2.5 $ 0.3 Non-current maturities of long-term debt: Asset-Based Loan $ — $ — $ — Convertible Senior Unsecured Notes 200.0 10.9% 200.0 10.9% — Senior Secured Notes 270.0 8.2% 300.0 8.2% (30.0) Other debt 7.8 8.8 (1.0) Total non-current maturities of long-term debt: $ 477.8 $ 508.8 $ (31.0) Unamortized issuance costs and debt discounts Unamortized discount - Convertible Notes $ (37.6) $ (45.4) $ 7.8 Unamortized issuance costs - Convertible Notes (4.1) (5.0) 0.9 Debt issuance costs - Senior Secured Notes (4.4) (5.6) 1.2 Total $ (46.1) $ (56.0) $ 9.9 Total debt outstanding, net $ 434.5 $ 455.3 $ (20.8) Future principal payments of long-term debt outstanding as of October 1, 2021 are as follows: (In millions) Fiscal years: 2022 $ 2.8 2023 2.6 2024 1.7 2025 201.7 2026 1.4 Thereafter 270.4 Total debt outstanding $ 480.6 Less: current maturities of long-term debt (2.8) Non-current portion of long -term debt $ 477.8 The following table summarizes the Company's interest expense: Twelve Months Ended October 1, 2021 October 2, 2020 September 27, 2019 Contractual interest coupon and other $ 30.7 $ 19.1 $ 17.9 Amortization/extinguishment of debt issuance costs 3.5 7.0 3.2 Amortization of debt discounts 7.9 5.3 — Total interest expense $ 42.1 $ 31.4 $ 21.1 Convertible Senior Unsecured Notes On June 9, 2020, Varex issued $200.0 million in aggregate principal amount of 4.00% convertible senior unsecured notes due 2025 (“Convertible Notes”). The net proceeds from the issuance of the Convertible Notes, after deducting transaction fees and offering expense payable by the Company, were approximately $193.1 million. The Convertible Notes bear interest at the annual rate of 4.00%, payable semiannually on June 1 and December 1 of each year, beginning on December 1, 2020, and will mature on June 1, 2025, unless earlier converted or repurchased by us. Call Spread On June 4, 2020 and June 5, 2020, in connection with the offering of the Convertible Notes, Varex entered into privately negotiated convertible note hedge transactions (collectively, the “Hedge Transactions”). The Hedge Transactions cover, subject to customary anti-dilution adjustments, the number of shares of Varex common stock that initially underlie the Convertible Notes. The Hedge Transactions are expected generally to reduce the potential dilution and/or offset any cash payments Varex is required to make in excess of the principal amount due upon conversion of the Convertible Notes in the event that the market price of Varex common stock is greater than the strike price of the Hedge Transactions, which was initially $20.81 per share (subject to adjustment under the terms of the Hedge Transactions). The strike price of $20.81 corresponds to the initial conversion price of the Convertible Notes. The number of shares underlying the Hedge Transactions is 9.6 million. On June 4, 2020 and June 5, 2020, Varex also entered into privately negotiated warrant transactions (collectively, the “Warrant Transactions” and, together with the Hedge Transactions, the “Call Spread Transactions”), whereby the Company sold warrants at a higher strike price relating to the same number of shares of Varex common stock that initially underlie the Convertible Notes, subject to customary anti-dilution adjustments. The initial strike price of the warrants is $24.975 per share (subject to adjustment under the terms of the Warrant Transactions), which is 50% above the last reported sale price of Varex common stock on June 4, 2020. The Warrant Transactions could have a dilutive effect to the Company's stockholders to the extent that the market price per share of Varex common stock, as measured under the terms of the Warrant Transactions, exceeds the applicable strike price of the warrants. The number of shares underlying the Warrant Transactions is 9.6 million. The number of warrants outstanding as of October 1, 2021, was 9.6 million. Senior Secured Notes Varex issued $300.0 million aggregate principal amount of 7.875% Senior Secured Notes due 2027 (the "Senior Secured Notes") pursuant to an indenture dated September 30, 2020, among Varex, certain of its direct or indirect wholly-owned subsidiaries as guarantors, and Wells Fargo Bank, National Association as trustee and collateral agent. Interest payments are paid semiannually on April 15 and October 15 of each year, beginning on April 15, 2021. The Senior Secured Notes are secured by a first priority lien on substantially all of the assets of Varex and the assets and capital stock of its subsidiary guarantors (subject to exceptions), except for assets for which a first priority security interest is pledged for the ABL Facility (defined below), in which the Senior Secured Notes will have a second lien security interest. The Senior Secured Notes include negative covenants, subject to certain exceptions, restricting or limiting Varex's ability and the ability of its restricted subsidiaries to, among other things, incur liens on collateral; sell certain assets; incur additional indebtedness; pay dividends; issue preferred shares; consolidate, merge, or sell all or substantially all of its assets; and enter into certain transactions with their affiliates. On July 15, 2021, the Company redeemed $30 million of Senior Secured Notes, in accordance with the terms and conditions of the governing indenture, by paying cash of $31.5 million, inclusive of the redemption premium and accrued interest, and recognized a $1.4 million loss related to the redemption premium and the write-off of previously recorded debt issuance costs. The redemption price of the redeemed notes was 103% of the principal amount, plus accrued and unpaid interest from, and including, April 15, 2021 to, but excluding, the redemption date of July 15, 2021. Asset-Based Loan Concurrent with the termination of the Credit Agreement (defined below) and closing of the Senior Secured Notes on September 30, 2020, the Company entered into a revolving credit agreement consisting of a $100.0 million asset-based loan revolving credit facility (the “Asset-Based Loan”, or "ABL Facility"). Borrowings under the Asset-Based Loan will be expected to bear interest at floating rates based on LIBOR, or comparable rate, or a base rate, and an applicable margin based on Average Daily Excess Availability (as defined in the Asset-Based Loan Agreement). In addition, the Company is required to pay a quarterly commitment fee of 0.375% to 0.5%, based on the aggregate unused commitments under the Asset-Based Loan. The ABL Facility matures on the earlier of September 30, 2025 or 91 days prior to the maturity of the Convertible Notes, at which time all outstanding amounts under the ABL Facility will be due and payable. The maximum availability under our ABL Facility is $100.0 million; however, the borrowing base under the ABL fluctuates from month-to-month depending on the amount of eligible accounts receivable, inventory, and real estate. As of October 1, 2021, the amount available under our ABL Facility was $69.4 million and the ABL Facility remains undrawn. The ABL Facility includes various restrictive covenants that limit our ability to engage in certain transactions, including the incurrence of debt, payment of dividends and other restrictive payments, existence of restrictions affecting subsidiaries, sales of stock and assets, certain affiliate transactions, modifications of debt documents and organizational documents, changes to line of business and fiscal year, incurrence of liens, making fundamental changes, prepayments of junior indebtedness, and certain other transactions. The ABL Facility contains a minimum Fixed Charge Coverage Ratio of 1.00 to 1.00 that is tested when excess availability under the ABL is less than the greater of (i) 10.0% of the Loan Cap (the lesser of (a) the aggregate commitments under the ABL Facility and (b) the aggregate borrowing base) and (ii) $7.5 million. As of October 1, 2021, the Company is compliant with the ABL Facility covenants. The ABL Facility will have a first lien security interest on accounts receivable, cash, and inventory as well as certain real estate and holds second lien security interest on all other assets. Credit Agreement On May 1, 2017 Varex entered into a secured revolving credit facility (the “Revolving Credit Facility”) in an aggregate principal amount of up to $200.0 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 $400.0 million, which was subsequently amended. On September 30, 2020, the Company terminated its previously existing Credit Agreement, consisting of both the Term Facility and Revolving Credit Facility. The Company repaid the outstanding Term Facility balance of $265.5 million and accrued interest of $2.0 million with proceeds received from the issuance of the Senior Secured Notes (defined above) and wrote off approximately $3.8 million of previously recorded debt issuance costs, which resulted in a $3.8 million loss on extinguishment of debt, recorded as interest expense within the consolidated statements of operations and comprehensive income (loss).

FAIR VALUE

FAIR VALUE	12 Months Ended
	Oct. 01, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE	FAIR VALUE Assets/Liabilities Measured at Fair Value on a Recurring Basis 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. As of October 1, 2021, the fair value of the Company's Convertible Notes and Senior Secured Notes, as defined in Note 10. Borrowings and measured using Level 1 inputs, were $296.3 million and $304.8 million, respectively. As of October 2, 2020, the fair values of the Company's Convertible Notes and Senior Secured Notes, measured using Level 1 inputs, were $178.5 million and $312.8 million, respectively. 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 fiscal year 2021. 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. (In millions) Fair Value Measurements at October 1, 2021 Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Significant Unobservable Inputs Total Assets: Cash equivalents - money market funds $ — $ 88.2 $ — $ 88.2 Derivative assets — 1.2 — 1.2 Total assets measured at fair value $ — $ 89.4 $ — $ 89.4 Liabilities: Derivative liabilities $ — $ 2.4 $ — $ 2.4 Total liabilities measured at fair value $ — $ 2.4 $ — $ 2.4 At October 2, 2020, the Company determined the following levels of inputs for the following assets or liabilities: (In millions) Fair Value Measurements at October 2, 2020 Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Significant Unobservable Inputs Total Assets: Cash equivalents - Money market funds $ — $ 72.9 $ — $ 72.9 Derivative assets — 1.1 — 1.1 Total assets measured at fair value $ — $ 74.0 $ — $ 74.0 Liabilities: Derivative liabilities $ — $ 2.1 $ — $ 2.1 Deferred consideration — — — — Total liabilities measured at fair value $ — $ 2.1 $ — $ 2.1

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
	Oct. 01, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS The following table reflects goodwill by reportable segment: (In millions) Medical Industrial Total Balance at October 2, 2020 $ 174.4 $ 118.7 $ 293.1 Other (0.2) (0.2) (0.4) Foreign currency translation adjustments (0.3) (0.2) (0.5) Balance at October 1, 2021 $ 173.9 $ 118.3 $ 292.2 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 consolidated balance sheets: October 1, 2021 October 2, 2020 (In millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired existing technology $ 74.2 $ (45.5) $ 28.7 $ 74.9 $ (37.5) $ 37.4 Patents, licenses and other 12.8 (10.9) 1.9 12.8 (9.7) 3.1 Customer contracts and supplier relationship 51.1 (31.0) 20.1 51.2 (24.2) 27.0 Total intangible assets $ 138.1 $ (87.4) $ 50.7 $ 138.9 $ (71.4) $ 67.5 Amortization expense for intangible assets was $16.8 million, $17.2 million and $15.7 million in fiscal years 2021, 2020 and 2019, respectively. The Company recognized intangible asset impairment charges of $0.0 million, $2.8 million, and $4.8 million in fiscal years 2021, 2020, and 2019, respectively, which are included in the consolidated statements of operations under impairment of intangible assets. These impairment charges related primarily to the Company's Medical reporting segment. As of October 1, 2021, the estimated future amortization expense of intangible assets with finite lives is as follows: (In millions) Fiscal years: 2022 $ 14.7 2023 13.6 2024 9.2 2025 3.0 2026 3.0 Thereafter 7.2 Total $ 50.7

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Oct. 01, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Lease Commitments See Note 3 . Leases, included in this report, for additional information about the Company's lease commitments. Purchase Agreement With Supplier During the third quarter of fiscal year 2020, Varex entered into a purchase agreement with a supplier to acquire certain equipment and intellectual property from the supplier that is utilized to manufacture X-ray cables utilized in Varex's products. As of October 1, 2021, there has been no transfer of control of the underlying equipment. This acquisition is expected to be completed during the 2023 fiscal year and the total consideration to be paid by Varex for the acquired assets is expected to be ¥1,084.7 million or approximately $9.8 million. Other Commitments See Note 5. Related Party Transactions, included in this report, for additional information about the Company’s commitments to dpiX. See Note 14 . Redeemable Noncontrolling Interests & Noncontrolling Interests, included in this report, for additional information about the Company’s commitment to the noncontrolling shareholders of MeVis. The Company has an environmental liability of approximately $0.8 million as of October 1, 2021. 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 duty 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. The Company did not have any material contingent liabilities as of October 1, 2021 and October 2, 2020. Legal expenses are expensed as incurred.

NONCONTROLLING INTERESTS

NONCONTROLLING INTERESTS	12 Months Ended
	Oct. 01, 2021
Noncontrolling Interest [Abstract]
NONCONTROLLING INTERESTS	NONCONTROLLING INTERESTS In April 2019, a subsidiary of Varex acquired 98.2% of the outstanding shares of common stock of Direct Conversion. In April 2021, the Company acquired all of the remaining shares representing the noncontrolling interests in Direct Conversion such that the Company now owns 100% of the outstanding shares of common stock of Direct Conversion. As a result, the Company consolidates Direct Conversion's operations in its consolidated financial statements and no longer records any noncontrolling interest in the equity section of the Company's consolidated balance sheet related to Direct Conversion 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 the Company's 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 sheets. Income representing the noncontrolling partner's share of income from operations is included in the Company's consolidated statements of operations. In April 2015, the Company completed the acquisition of 73.5% of the then outstanding shares of MeVis Medical Solutions AG (“MeVis”), a public 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. Unde r the DPLTA, MeVis subordinates its management to the Company and undertakes to transfer all of 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. During fiscal year 2018 , an immaterial number of MeVis’ shares were purchased under the put right. During the fourth quarter of fiscal year 2020, the put right granted to the noncontrolling shareholders of MeVis under the DPLTA expired unexercised, which resulted in the redeemable noncontrolling interests being reclassified to permanent equity as noncontrolling interest in the consolidated balance sheet. As of October 1, 2021, noncontrolling shareholders together held approximately 0.5 million shares of MeVis, representing 26.3% of the outstanding shares. Changes in noncontrolling interests and redeemable noncontrolling interests were as follows: Fiscal Years 2021 2020 (In millions) Noncontrolling Redeemable Noncontrolling Interest Balance at beginning of period $ 14.1 $ 10.5 $ 3.3 Net income attributable to noncontrolling interests 0.5 0.5 — Reclassification of redeemable NCI in MeVis to noncontrolling interests in permanent equity — (11.3) 11.3 Other, including foreign currency remeasurement (1.4) 0.3 (0.5) Balance at end of period $ 13.2 $ — $ 14.1

EMPLOYEE STOCK PLANS

EMPLOYEE STOCK PLANS	12 Months Ended
	Oct. 01, 2021
Share-based Payment Arrangement [Abstract]
EMPLOYEE STOCK PLANS	EMPLOYEE STOCK PLANS Employee Stock Plans The Company's employees participate in Varex Imaging Corporation 2020 Omnibus Stock Plan (the “2020 Stock Plan”), 2017 Omnibus Stock Plan (the “2017 Stock Plan”), and Varex Imaging Corporation 2017 Employee Stock Purchase Plan (the “2017 ESPP”) which allows the grants of stock options, restricted stock units and performance shares among other types of awards. In January 2017, Varex stockholders approved the 2017 ESPP, which provides eligible employees with an opportunity to purchase shares of Varex common stock at 85% of the lower of its fair market value at the start and end of a six-month purchase period. The 2017 ESPP provides for the purchase of up to one million shares of Varex common stock. Share-Based Compensation Expense Share-based compensation expense recognized in the consolidated statements of operations 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 share-based compensation expense and for the option component of the employee stock purchase plan shares: Fiscal Year (In millions) 2021 2020 2019 Cost of revenues $ 1.4 $ 1.1 $ 1.2 Research and development 3.0 2.5 2.2 Selling, general and administrative 9.5 9.8 8.3 Total share-based compensation expense $ 13.9 $ 13.4 $ 11.7 The unrecognized share-based compensation cost as of October 1, 2021 was $22.9 million, and is expected to be recognized over a weighted average period of 2.7 fiscal years. As of October 1, 2021, there were approximately 4.1 million and 0.3 million shares of common stock available for future issuances under the 2020 Stock Plan and the 2017 ESPP, respectively. The Company utilized the Black-Scholes valuation model for estimating the fair value of stock options granted and the option component of ESPP grants. The Company calculated the fair value of option grants and option component of ESPP grants on the respective dates of grant using the following weighted average assumptions: Employee Stock Option Plan Employee Stock Purchase Plans Fiscal Year Fiscal Year 2021 2020 2019 2021 2020 2019 Expected term (in years) 7.0 6.1 4.6 0.5 0.5 0.5 Risk-free interest rate 1.0 % 1.1 % 2.5 % 0.1 % 0.9 % 2.5 % Expected volatility 41.5 % 36.9 % 33.9 % 68.4 % 50.0 % 43.9 % Expected dividend — % — % — % — % — % — % Weighted average fair value at grant date $9.37 $7.53 $10.19 $5.90 $7.94 $7.81 Option valuation methods, including Black-Scholes, require the input of subjective assumptions, which are discussed below. Risk-Free Interest Rate The interest rates used are based on the implied yield currently available on U.S. Treasury zero-coupon issues with an equivalent remaining term equal to the expected life of the award. Expected Term Options granted generally vest over a period of 36 to 48 months and expire 7 to 10 years from date of grant. Employee stock purchase plan offering periods are 6 months and provides eligible employees with an opportunity to purchase shares of Varex common stock at 85% of the lower of its fair market value at the start or end of a six-month purchase period. The Company has elected to use the simplified method in calculating the expected term of its options due to a lack of sufficient historical information. Expected Dividend Yield The dividend rate used is zero as the Company has never paid any cash dividends on its common stock and does not anticipate doing so in the foreseeable future. The Company is also restricted from paying dividends on common stock under its debt facilities. Expected Volatility Authoritative accounting guidance on stock-based compensation indicates that companies should consider volatility over a period generally commensurate with the expected or contractual term of the stock option. Adequate Company-specific data does not exist for this time period as the Company began trading in January 2017. The volatility variable used is a blended approach by using the Company's historic data for the years it has been publicly traded and a benchmark of other comparable companies’ volatility rates for the prior years. Stock Option Activity The following table summarizes the activity for stock options under Varex’s employee incentive plans for the Company’s employees: (In thousands, except per share amounts and the remaining term) Options Price range Weighted Average Weighted Average Remaining Term (in years) Aggregate Intrinsic Value (1) Outstanding at October 2, 2020 2,735 $13.61 - $37.60 $ 29.23 4.5 $ — Granted 399 $25.06 - $27.95 25.19 Canceled, expired or forfeited (323) $25.17 - $37.10 28.90 Outstanding at October 1, 2021 2,811 $13.61 - $37.60 $ 28.69 4.7 $ 5,161.0 Exercisable at October 1, 2021 1,911 $13.61 - $37.60 $ 30.36 3.1 $ 1,597.6 (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 $28.58 as of October 1, 2021, the last trading date of the Company's respective fiscal years, 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. The grant-date fair value of options granted during fiscal years 2021, 2020 and 2019 was $3.7 million, $4.4 million and $3.0 million, respectively. The total intrinsic value of the options exercised during the years ended October 1, 2021, October 2, 2020 and September 27, 2019 was $0.0 million, $0.4 million and $0.2 million, respectively Restricted Stock Units, Restricted Stock Awards and Deferred Stock Units The following table summarizes the activity for restricted stock units, restricted stock awards and deferred stock units under Varex’s employee incentive plans for the Company’s employees: (In thousands, except per share amounts) Number of Shares Weighted Average Balance at October 2, 2020 955 $ 25.54 Granted 388 22.81 Vested (199) 33.63 Canceled, expired or forfeited (64) 23.39 Balance at October 1, 2021 1,080 $ 23.25 The total grant-date fair value of shares granted was $8.9 million, $11.9 million and $9.0 million for fiscal years 2021, 2020 and 2019, respectively. Shares outstanding at October 1, 2021, October 2, 2020 and September 27, 2019 had an estimated market value of $30.9 million, $11.8 million and $19.2 million, respectively.

TAXES ON INCOME

TAXES ON INCOME	12 Months Ended
	Oct. 01, 2021
Income Tax Disclosure [Abstract]
TAXES ON INCOME	TAXES ON INCOME Income tax expense or benefit is based on reported income or loss before income taxes. Deferred income taxes reflect the effect of temporary differences between asset and liability amounts that are recognized for financial reporting purposes and the amounts that are recognized for income tax purposes. These deferred taxes are measured by applying currently enacted tax laws. Valuation allowances are recognized to reduce deferred tax assets to the amount that is more likely than not to be realized. Income tax expense (benefit) was as follows: Fiscal Years (In millions) 2021 2020 2019 Current income tax expense (benefit) Federal $ 5.4 $ (16.3) $ 9.2 State and local 1.4 (1.4) 1.3 Foreign 6.8 5.7 6.8 Total current $ 13.6 $ (12.0) $ 17.3 Deferred i ncome tax expense (benefit) : Federal $ 1.8 $ (1.7) $ (10.0) State and local (1.3) 0.6 (1.6) Foreign (3.4) (2.1) — Total deferred $ (2.9) $ (3.2) $ (11.6) Income tax expense (benefit) $ 10.7 $ (15.2) $ 5.7 Income (loss) before taxes are generated from the following geographic areas: Fiscal Years (In millions) 2021 2020 2019 United States $ (4.1) $ (74.1) $ 5.9 Foreign 32.7 1.5 15.6 Income (loss) before taxes $ 28.6 $ (72.6) $ 21.5 The effective tax rate differs from the U.S. federal statutory tax rate as a result of the following: Fiscal Years 2021 2020 (1) 2019 (1) Federal statutory income tax rate 21.0 % 21.0 % 21.0 % State and local taxes, net of federal tax benefit 0.3 1.0 (0.9) Mandatory repatriation tax on foreign earnings — — 1.9 Return to provision 4.2 2.8 (4.7) Research and development credit (4.2) 3.7 (10.2) Prior year research and development credit (0.3) — — Prior year deferred tax adjustments — 0.4 4.7 Foreign rate difference 1.7 (0.4) 6.0 Foreign research innovation box (3.8) — — Change in valuation allowance 8.4 (11.0) 11.2 U.S. tax reform - international provisions (0.7) — (4.7) U.S. net operating loss carryback 5.2 5.6 — Other 5.6 (2.2) 2.2 Effective tax rate 37.4 % 20.9 % 26.5 % (1) Certain prior year amounts have been reclassified to conform to current year presentation. During fiscal year 2021, t he Company's effective tax rate varied from the U.S. federal statutory rate of 21% primarily because of the unfavorable impact of U.S. deferred tax attributes and losses in certain foreign jurisdictions for which a valuation allowance is provided and a reduction in benefit for U.S. net operating losses carried back to prior years. These unfavorable items are partially offset by the favorable impact of R&D tax credits and U.S. tax reform international provisions. During fiscal year 2020, the Company’s effective tax rate varied from the U.S. federal statutory rate of 21% primarily because of the favorable impact of U.S. net operating losses to be carried back to tax years with greater U.S. federal statutory rates. These favorable tax items were mostly offset by the unfavorable impact of additional losses in certain foreign jurisdictions, limitations on interest expense, and R&D credits for which no benefit is recognized. During fiscal year 2019, the Company’s effective tax rate varied from the U.S. federal statutory rate of 21% primarily because of the favorable impact of changes to the U.S. corporate tax structure resulting from U.S. Tax Reform, and U.S. research and development tax credits. These favorable U.S. tax items were offset by losses in certain foreign jurisdictions for which no benefit is recognized and earnings in other foreign jurisdictions that are taxed at higher rates. The Company has estimated its fiscal year 2021 GILTI (global intangible low-taxed income), BEAT (base-erosion anti-abuse tax), FDII (foreign-derived intangible income), limitations on interest expense deductions, and other components of U.S. Tax Reform, and have included these amounts in the calculation of the fiscal year 2021 tax provision. The Company has made an accounting policy election, as allowed by the SEC and FASB, to recognize the impact of GILTI as a period cost if and when incurred. Significant components of deferred tax assets and liabilities are as follows: (In millions) October 1, 2021 October 2, 2020 (1) Deferred tax assets: Inventory adjustments $ 4.9 $ 4.4 Share-based compensation 5.5 4.2 Product warranty 1.8 1.7 Deferred compensation 1.6 1.3 Net operating loss carryforwards 25.7 27.0 Accrued vacation 1.0 1.0 Accrued incentives 4.2 1.7 Credit carryforwards 3.3 5.9 Deferred financing fees 3.0 3.3 Interest expense limitation 4.3 4.7 Lease liabilities 6.8 7.2 Other 6.4 4.3 $ 68.5 $ 66.7 Valuation allowance (30.2) (28.7) Total deferred tax assets $ 38.3 $ 38.0 Deferred tax liabilities: Acquired intangibles $ (13.9) $ (16.6) Property, plant and equipment (13.0) (12.4) Investments in privately held companies (1.8) (2.8) Operating lease assets (6.5) (6.7) Other (1.3) (1.3) Total deferred tax liabilities (36.5) (39.8) Net deferred tax assets $ 1.8 $ (1.8) Reported As: Deferred tax assets $ 38.3 $ 38.0 Deferred tax liabilities (36.5) (39.8) Net deferred tax assets (liabilities) $ 1.8 $ (1.8) (1) Certain prior year amounts have been reclassified to conform to current year presentation. The Company is maintaining its reinvestment assertion with respect to foreign earnings for the year ended October 1, 2021, which is that all earnings prior to fiscal year 2018 are permanently reinvested for all countries, and that all earnings for Direct Conversion, located primarily in Sweden and Finland, are also indefinitely reinvested in those countries, but post fiscal year 2017 earnings in all other countries are not permanently reinvested. 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. This estimated liability is for U.S. state income taxes and foreign withholding taxes that would apply if the foreign earnings were repatriated in the form of a dividend. As of October 1, 2021, the Company had foreign net operating loss carryforwards ("NOL") of approximately $25.7 million with $2.6 million expiring between 2021 and 2030 and $23.1 million carried forward indefinitely. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted in response to the COVID-19 pandemic. The CARES Act, among other things, permits NOL carryovers and carrybacks to offset 100% of taxable income for taxable years beginning before 2021. In addition, the CARES Act allows NOLs incurred in 2018, 2019, and 2020 to be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes. On July 2, 2020, the US Treasury Department issued a regulation providing an election to waive NOL carryback to a former consolidated group. During fiscal year 2021, the Company filed NOL carryback claims for U.S. losses incurred during fiscal year 2020 and anticipates cash tax refunds on those claims. The valuation allowance relates primarily to net operating losses in certain foreign jurisdictions, limitations on interest expense deductions, and other deferred tax attributes where, based on the weight of available evidence, it is more likely than not that the tax benefit will not be realized. The valuation allowance increased by $1.5 million during fiscal year 2021 and increased by $9.9 million during fiscal year 2020. The increase during the current year was primarily related to other U.S. deferred tax attributes. Changes in the Company's valuation allowance for deferred tax assets were as follows: Fiscal Years (In millions) 2021 2020 2019 Valuation allowance balance–beginning of fiscal year $ 28.7 $ 18.8 $ 4.0 Increases resulting from business combinations — — 12.0 Other increases 5.4 10.2 2.8 Other decreases (3.9) (0.3) — Valuation allowance balance—end of fiscal year $ 30.2 $ 28.7 $ 18.8 The Company accounts for uncertainty in income taxes following a two-step approach for recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining whether the weight of available evidence indicates that it is more likely than not that, based on the technical merits, the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. Changes in the Company’s unrecognized tax benefits were as follows: Fiscal Years (In millions) 2021 2020 Unrecognized tax benefits balance–beginning of fiscal year $ 0.8 $ 0.6 Additions based on tax positions related to a prior year 0.4 0.2 Additions based on tax positions related to the current year 0.1 — Reductions resulting from the expiration of the applicable statute of limitations (0.2) — Unrecognized tax benefits balance—end of fiscal year $ 1.1 $ 0.8 As of October 1, 2021 and October 2, 2020, the total amount of gross unrecognized tax benefits was $1.1 million and $0.8 million, respectively, all of which would affect the effective tax rate if recognized. The Company includes interest and penalties related to income taxes within income tax expense (benefit) on the consolidated statements of operations. For the year ended October 1, 2021, $0.2 million interest and penalties have been included for this period. For the year ended October 2, 2020, $0.1 million interest and penalties have been included for this period. For the year ended September 27, 2019, $0.1 million interest and penalties have been included for this period. The Company files U.S. federal and state income tax returns and non-U.S. income tax returns in various jurisdictions. All of these returns are subject to examination by their respective taxing jurisdictions from the date of filing through each applicable statute of limitation period. Other periods for entities acquired are still open and subject to examination. Generally, periods prior to 2011 are no longer subject to examination. During fiscal year 2021, the New York Department of Finance and Taxation and the Utah State Tax Commission commenced examinations of Varex’s tax returns for the years 2017, 2018, and 2019. The Swedish Tax Agency will commence an examination of Direct Conversion’s tax returns for the fiscal year 2019 in fiscal year 2022. Although the outcome of tax audits are uncertain, based on currently available information, the Company believes the outcomes will not have a material adverse effect on the Company’s financial position.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Oct. 01, 2021
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company has two reportable operating segments: Medical and Industrial, which aligns with how its Chief Executive Officer ("CEO"), who is the Company's Chief Operating Decision Maker (“CODM”), reviews the Company’s performance. 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 CEO, 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 profit. 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, including X-ray tubes, digital detectors, high voltage connectors, image-processing software and workstations, 3D reconstruction software, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, heat exchangers, ionization chambers and buckys (a component of X-ray units that holds X-ray film cassettes). These components are used in a range of medical imaging applications including CT, mammography, oncology, cardiac, surgery, dental, and other diagnostic radiography uses. The Industrial segment designs, develops, manufactures, sells and services X-ray imaging products for use in a number of markets, including security applications for cargo screening at ports and borders and baggage screening at airports, and nondestructive testing and inspection applications used in a number of other markets. The Company's Industrial products include Linatron ® X-ray linear accelerators, X-ray tubes, digital detectors and high voltage connectors. In addition, the Company licenses proprietary image-processing and detection software designed to work with other Varex products to provide packaged sub-assembly solutions to Industrial customers. 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: Fiscal Year (In millions) 2021 2020 2019 Revenues Medical $ 643.8 $ 584.5 $ 596.8 Industrial 174.3 153.8 183.8 Total revenues 818.1 738.3 780.6 Gross profit Medical 203.2 136.4 188.9 Industrial 68.3 53.8 67.8 Total gross profit 271.5 190.2 256.7 Total operating expenses 197.4 223.9 211.0 Interest and other expense, net (45.5) (38.9) (24.2) Income (loss) before taxes 28.6 (72.6) 21.5 Income tax expense (benefit) 10.7 (15.2) 5.7 Net income (loss) 17.9 (57.4) 15.8 Less: Net income attributable to noncontrolling interests 0.5 0.5 0.3 Net income (loss) attributable to Varex $ 17.4 $ (57.9) $ 15.5 The Company does not disclose total assets by segment as this information is not provided to the CODM. Geographic Information Revenues Long-Lived Assets Fiscal Years Fiscal Years (In millions) 2021 2020 2019 2021 2020 Americas $ 268.5 $ 255.0 $ 282.6 $ 105.4 $ 115.9 EMEA 276.3 231.5 269.0 23.9 21.5 APAC 273.3 251.8 229.0 10.9 7.8 Total company $ 818.1 $ 738.3 $ 780.6 $ 140.2 $ 145.2 Revenue in the United States of America was $262.3 million, $249.8 million and $275.3 million in fiscal years 2021, 2020 and 2019, respectively. The Company operates various manufacturing and marketing operations outside the United States. Americas includes North and South America. EMEA includes Europe, Russia, the Middle East, India and Africa. APAC includes Asia and Australia. Revenues by region are based on the known final destination of products sold.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Oct. 01, 2021
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Varex’s 401(k) plan is intended to be qualified under Section 401(a) of the Code with the 401(k) plan’s related trust intended to be tax exempt under Section 501(a) of the Code and intended for all full-time employees in the United States. This plan allows employees to contribute a portion of their pretax salary up to the maximum dollar limitation prescribed by the Internal Revenue Service. The Company made matching contributions to the plan totaling $2.8 million, $4.4 million and $6.7 million in fiscal years 2021, 2020 and 2019, respectively. The Company also maintains defined benefit plans for employees located outside the US. The net pension liability is included in other long-term liabilities on the Company's consolidated balance sheets and totaled $5.9 million and $6.5 million as of October 1,

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	12 Months Ended
	Oct. 01, 2021
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME The following tables present the changes in the accumulated balances for each component of other comprehensive income (loss): (In millions) Unrealized Gain (Loss) on Derivative Financial Instruments Unrealized Gain (Loss) on Defined Benefit Obligations Currency Translation Adjustment Accumulated Other Comprehensive (Loss) Income Balance at September 27, 2019 $ (0.4) $ (1.3) $ — $ (1.7) Other comprehensive (loss) income before reclassifications (3.4) 0.9 (1.3) (3.8) Amount reclassified out of other comprehensive income 1.5 — — 1.5 Amount reclassified out of other comprehensive income - transaction remote 2.4 — — 2.4 Income tax impact (0.1) (0.3) 0.3 (0.1) Foreign currency translation adjustment — — 2.5 2.5 Balance at October 2, 2020 $ — $ (0.7) $ 1.5 $ 0.8 Other comprehensive loss before reclassifications — (0.1) (0.3) (0.4) Income tax impact — — 0.1 0.1 Foreign currency translation adjustment — — (0.5) (0.5) Balance at October 1, 2021 $ — $ (0.8) $ 0.8 $ —

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Oct. 01, 2021
Accounting Policies [Abstract]
Basis of Presentation	The accompanying consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the SEC and prepared in accordance with accounting principles generally accepted in the United States ("GAAP"). The Company has consolidated all the majority owned subsidiaries and entities over which we have control. All intercompany balances and transactions have been eliminated in consolidation.
Segment Reporting	Segment Reporting    The Company has two reportable operating segments; (i) Medical and (ii) Industrial.
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 2021 was the 52-week period that ended October 1, 2021, fiscal year 2020 was the 53-week period that ended October 2, 2020, and fiscal year 2019 was the 52-week period that ended September 27, 2019.
Variable Interest Entities	Variable Interest Entities    For entities in which the Company has variable interests, the Company focuses on identifying which entity has the power to direct the activities that most significantly impact the variable interest entity’s economic performance and which entity has the obligation to absorb losses or the right to receive residual returns from the variable interest entity. If the Company is the primary beneficiary of a variable interest entity, the assets, liabilities and results of operations of the variable interest entity will be included in the Company’s consolidated financial statements. As of October 1, 2021, the Company had variable interests in two entities, neither of which were consolidated by the Company.
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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Such estimates include the valuation of inventories, valuation of goodwill and intangible assets, warranties, contract liabilities, long-lived asset valuations, impairment on investments, valuation of financial instruments, and taxes on income. Actual results could differ from these estimates.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents The Company considers currency on hand, demand deposits, time deposits and all highly-liquid investments with an original maturity of three months or less at the date of purchase to be cash and cash equivalents. Restricted Cash Restricted cash primarily consists of cash collateral related to certain leases and inventory arrangements. Restricted cash is
Fair Value	Fair Value Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. There is a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: Level 1—Quoted prices in active markets for identical assets or liabilities. Level 2—Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or, other inputs that are observable or can be corroborated by observable market data. Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
Derivative instruments and hedging activities	Derivative instruments and hedging activities The Company records all derivatives on the consolidated balance sheets at fair value as of the reporting date. For derivative instruments that are designated and qualify as cash flow hedges, the gain or loss on the derivative is reported as a component of other comprehensive income or loss and reclassified from accumulated other comprehensive income into earnings when the hedged transaction affects earnings. For derivatives that are designated and qualify as net investment hedges, the gain or loss on the derivative is reported as a component of other comprehensive income or loss until the hedged item is sold. The portion of the change in fair value
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.
Inventories	Inventories Inventories are valued at the lower of cost or net realizable value. Costs include materials, labor, external service, and manufacturing overhead and is computed on a first-in-first-out basis. The Company evaluates the carrying value of its inventories taking into consideration such factors as historical and anticipated future sales compared to quantities on hand and the prices the Company expects to obtain for products in its various markets. The Company adjusts excess and obsolete inventories to net realizable value and write-downs of excess and obsolete inventories are recorded as a component of cost of revenues.
Property, Plant and Equipment, net	Property, Plant and Equipment, net Property, plant and equipment are stated at cost, net of accumulated depreciation. Major improvements are capitalized, while repairs and maintenance are expensed as incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the assets or remaining lease term. Land is not subject to depreciation, but land improvements are depreciated over fifteen years. Land leasehold rights and leasehold improvements are depreciated over the lesser of their estimated useful lives or remaining lease terms. Buildings are depreciated up to thirty years. Machinery and equipment are depreciated over a range from three
Investments	Investments    The Company accounts for its equity investments in privately-held companies under the equity method of accounting if the Company has the ability to exercise significant influence in these investments. Distributions received from an equity method investment are classified using the cumulative earnings approach, which means that distributions up to the amount of cumulative equity in earnings recognized will be treated as returns on investment and classified as operating cash flows and those in excess of that amount will be treated as returns of investment and classified as investing cash flows. The Company reviews its equity investments in privately-held companies for impairment whenever events or changes in business circumstances are other than temporary and indicate that the carrying amount of the investments may not be fully recoverable.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill is recorded when the purchase price of an acquisition exceeds the fair value of the net identified tangible and intangible assets acquired. Purchased intangible assets are carried at cost, net of accumulated amortization, and are included in intangible assets in the Company's consolidated balance sheets. Intangible assets with finite lives are amortized over their estimated useful lives of primarily two
Impairment of Long-lived Assets, Intangible Assets and Goodwill	Impairment of Long-lived Assets, Intangible Assets and Goodwill The Company reviews long-lived assets and identifiable intangible assets with finite lives for impairment whenever events or changes in circumstances indicate that the carrying amount of these assets may not be recoverable. The Company assesses these assets for impairment based on their estimated undiscounted future cash flows. If the carrying value of the assets exceeds the estimated future undiscounted cash flows, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. The Company evaluates goodwill and indefinite lived intangible assets for impairment at least annually at the beginning of the fourth quarter of each fiscal year or whenever an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The evaluation includes consideration of qualitative factors including industry and market considerations, overall financial performance, and other relevant events and factors affecting the reporting unit. If the Company determine that a quantitative analysis is necessary, the Company performs a step one analysis, which consists of a comparison of the fair value of a reporting unit against its carrying amount, including the goodwill allocated to each reporting unit. The Company determines the fair value of its reporting units based on a combination of income and market approaches. The income approach is based on the present value of estimated future cash flows of the reporting units, and the market approach is based on a market multiple calculated for each reporting unit based on market data of other companies engaged in similar business. If the carrying amount of the reporting unit is in excess of its fair value, the difference between the fair value and carrying amount is recorded as an
Loss Contingencies	Loss Contingencies From time to time, the Company is 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. When a loss contingency is probable but not reasonably estimable the nature of the contingency and the fact that an estimate cannot be made is disclosed. See Note 13. Commitments and Contingencies, for further information regarding certain of our contractual obligations and contingencies.
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, estimates include the historical experience of similar products, as well as 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 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 represent 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 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 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.
Revenue Recognition	Revenue Recognition Effective September 29, 2018, the Company adopted the requirements of Accounting Standards Update (“ASU”) 2014-09 and related amendments, Revenue from Contracts with Customers (“ASC 606”), which superseded all prior revenue recognition methods and industry-specific guidance. 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 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. The Company determines revenue recognition through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, a performance obligation is satisfied 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. 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. Recognition of revenue 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 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. Refer to Note 17. Segment Information, included in this report, for the disaggregation of the Company’s revenue based on reportable operating segments and disaggregated by geographic region. Contract Balances Contract assets are included within the Prepaid expenses and other current assets, and Other assets balances in the consolidated balance sheets. 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 in the consolidated balance sheets. 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. Deferred Revenues Deferred revenue primarily represents (i) the amount received applicable to non-software products for which parts and services under the warranty contracts have not been delivered, and (ii) the amount received for service contracts for which the services have not been rendered.
Allowance for Credit Losses	Allowance for Credit Losses    The Company evaluates the creditworthiness of customers prior to authorizing shipment for all major sale transactions. On a quarterly basis, the Company considers historical trends, current information and any reasonable and supportable forecasts to determine if an amount should be included in the allowance for credit losses.
Share-Based Compensation Expense	Share-Based Compensation Expense The Company has an equity-based incentive plan that provides for the grant of nonqualified stock options and restricted stock units to directors, officers and other employees. The Company also permits employees to purchase shares under the Varex employee stock purchase plan. The Company values stock options granted and the option component of the shares of common stock purchased under the equity-based incentive plans and stock purchased under the employee stock purchase plan using the Black-Scholes option-pricing model. Share-based compensation expense for restricted stock units is measured using the fair value of the Company’s stock on the date of grant and is amortized over the award’s respective service period. The Black-Scholes option-pricing model requires the input of certain assumptions, and changes in the assumptions can materially affect the fair value estimates of share-based payment awards.
Software Development Costs	Software Development Costs Costs for the development of new software products and substantial enhancements to existing software products are expensed as incurred until technological feasibility has been established, at which time any additional costs would be capitalized. No costs associated with the development of software have been capitalized, as the Company believes its current software development process is essentially completed concurrent with the establishment of technological feasibility.
Research and Development	Research and Development    Research and development costs are expensed as incurred. These costs primarily include employees’ compensation, consulting fees and material costs.
Taxes on Earnings	Taxes on Income    Current income tax expense or benefit is the amount of income taxes expected to be payable or receivable for the current year. Deferred income tax liabilities or assets are established for the expected future tax consequences resulting from the differences in financial reporting and tax bases of assets and liabilities. Future changes in tax regulation can have a material impact, including tax rate changes or the realization of deferred tax assets. A valuation allowance is provided if it is more likely than not that some or all of the deferred tax assets will not be realized. U.S. Tax Reform introduced a limitation of business interest deduction under IRC Section 163(j), which may be difficult to utilize without significant taxable income. Also, net operating loss carryforwards in jurisdictions with current losses provide uncertainty for realization. In addition, we provide reserves for uncertain tax positions when such tax positions do not meet the recognition thresholds or measurement standards prescribed by the authoritative guidance for accounting for income taxes. A portion of the U.S. general business tax credits for research outside of the financial statement line for research and development ("R&D") have a small degree of uncertainty. A reasonable reserve is maintained on the uncertain portion until either the Internal Revenue Service chooses to audit, or the statute of limitation expires. A reserve for R&D is typical for companies who calculate and utilize this general business credit. Amounts for uncertain tax positions are adjusted in periods when new information becomes available or when positions are effectively settled. Interest and penalties related to uncertain tax positions are recognized as a component of income tax expense.
Foreign Currency Translation	Foreign Currency Translation    The Company uses the U.S. Dollar predominately as the functional currency of its foreign operations. Gains and losses from remeasurement of foreign currency balances into U.S. Dollars are included in the consolidated statements of operations. For the foreign subsidiaries where the local currency is the functional currency, translation adjustments of foreign currency financial statements into U.S. dollars are recorded to a separate component of accumulated other comprehensive income.
Recently Adopted Accounting Pronouncements and Recent Accounting Standards Updates Not Yet Effective	Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, Measurement of Credit Losses on Financial Instruments. This pronouncement changes the impairment model for most financial assets and certain other instruments, including trade and other receivables, held-to-maturity debt securities and loans and replaces the incurred loss methodology with a new, forward-looking “expected loss” model that considers the risk of loss over the asset’s contractual life, even if remote, historical experience, current conditions, and reasonable and supportable forecasts of future relevant events. The Company adopted this ASU on October 3, 2020, using a modified retrospective approach. The adoption of ASU 2016-13 did not have a material impact on the Company's consolidated financial statements and related disclosures. Recent Accounting Standards Updates Not Yet Effective In August 2020, the FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. The standard removes certain separation models in ASC 470-20 for convertible instruments, and, as a result, embedded conversion features are no longer separated from the host contract for convertible instruments with conversion features that are not required to be accounted for as derivatives under ASC 815. The convertible debt instruments will be accounted for as a single liability measured at amortized cost. This will also result in the interest expense recognized for convertible debt instruments to be typically closer to the coupon interest rate. Further, the ASU made amendments to the earnings per share (“EPS”) guidance in Topic 260 for convertible instruments, the most significant impact of which is requiring the use of the if-converted method for diluted EPS calculation, and no longer allowing the net share settlement method. The ASU is effective for interim and annual periods beginning after December 15, 2021, with early adoption permitted for fiscal years beginning after December 15, 2020. Adoption of the ASU can either be on a modified retrospective or full retrospective basis. We are currently evaluating the impacts of this ASU on our consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting, to provide optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate (e.g., LIBOR) reform on financial reporting. Adoption of the guidance is elective and is permitted from March 12, 2020 through December 31, 2022. The Company will evaluate transactions or contract modifications occurring as a result of reference rate reform and determine whether to apply the optional guidance on an ongoing basis. The Company does not expect that the new guidance will have a material impact on its financial position, results of operations or cash flows. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes, 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. The Company does not expect that the new guidance will have a material impact on its financial position, results of operations, or cash flows.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Oct. 01, 2021
Accounting Policies [Abstract]
Restrictions on Cash and Cash Equivalents	Cash and cash equivalents and restricted cash as reported within the consolidated statements of cash flows consisted of the following: Twelve Months Ended October 1, 2021 Twelve Months Ended October 2, 2020 (In millions) Beginning of Period End of Period Beginning of Period End of Period Cash and cash equivalents $ 100.6 $ 144.6 $ 29.9 $ 100.6 Restricted cash 1.5 1.5 1.4 1.5 Cash and cash equivalents and restricted cash as reported per statement of cash flows $ 102.1 $ 146.1 $ 31.3 $ 102.1
Schedules of Concentration of Risk, by Risk Factor	Credit is extended to customers based on an evaluation of the customer’s financial condition, and collateral is not required. In certain circumstances, a customer may be required to prepay all or a portion of the contract price prior to transfer of control. During the periods presented, one of the Company's customers accounted for a significant portion of revenues, which is as follows: Fiscal Year 2021 2020 2019 Canon Medical Systems Corporation 17.9 % 20.5 % 17.3 %
Schedule of Inventory, Net	The following table summarizes the Company’s inventories, net: (In millions) October 1, 2021 October 2, 2020 Raw materials and parts $ 168.0 $ 184.6 Work-in-process 20.4 23.9 Finished goods 36.4 63.4 Total inventories $ 224.8 $ 271.9
Property, Plant and Equipment	The following table summarizes the Company’s property, plant and equipment, net: (In millions) October 1, 2021 October 2, 2020 Land $ 8.3 $ 8.3 Buildings and leasehold improvements 148.7 137.2 Machinery and equipment 179.7 175.5 Construction in progress 18.1 35.4 354.8 356.4 Accumulated depreciation and amortization (214.6) (211.2) Property, plant, and equipment, net $ 140.2 $ 145.2
Schedule of Product Warranty Liability	The following table reflects the changes in the Company’s accrued product warranty: Fiscal Years (In millions) 2021 2020 Accrued product warranty, at beginning of period $ 8.1 $ 8.1 Charged to cost of revenues 13.0 15.1 Actual product warranty expenditures (12.6) (15.1) Accrued product warranty, at end of period $ 8.5 $ 8.1

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	12 Months Ended
	Oct. 01, 2021
Revenue from Contract with Customer [Abstract]
Rollforward of Contract Assets and Liabilities	The following tables summarize the changes in the contract assets and refund liabilities for the twelve months ended October 1, 2021 and October 2, 2020: (In millions) Contract Assets Balance at September 27, 2019 $ 23.7 Costs recovered from product returns during the period (5.6) Contract asset from shipments of products, subject to return during the period 6.5 Balance at October 2, 2020 $ 24.6 Costs recovered from product returns during the period (4.8) Contract asset from shipments of products, subject to return during the period 6.4 Adjustment for actual vs reserved product returns (1.9) Balance at October 1, 2021 $ 24.3 (In millions) Refund Liabilities Balance at September 27, 2019 $ 26.4 Release of refund liability included in beginning of year refund liability (6.2) Additions to refund liabilities 7.2 Balance at October 2, 2020 $ 27.4 Release of refund liability included in beginning of year refund liability (5.3) Additions to refund liabilities 7.1 Adjustment for actual vs reserved product returns (2.2) Balance at October 1, 2021 $ 27.0

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Oct. 01, 2021
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: (In millions) Balance Sheet Location October 1, 2021 October 2, 2020 Assets Operating lease right-of-use assets Operating lease assets $ 24.3 $ 27.7 Finance lease right-of-use assets Property, plant and equipment, net 0.5 0.5 Liabilities Operating lease liabilities (current) Current operating lease liabilities 6.2 6.1 Finance lease liabilities (current) Accrued liabilities and other current liabilities 0.2 0.2 Operating lease liabilities (non-current) Operating lease liabilities 18.7 23.1 Finance lease liabilities (non-current) Other long-term liabilities $ 0.3 $ 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: October 1, 2021 October 2, 2020 Operating lease weighted average remaining lease term (in years) 5.9 6.6 Operating lease weighted average discount rate 5.5 % 4.5 % Finance lease weighted average remaining lease term (in years) 2.5 3.3 Finance lease weighted average discount rate 3.6 % 4.1 %
Schedule of Lease Cost and Supplemental Cash Flow Information	The following table provides information related to the Company’s operating and finance leases: (In millions) October 1, 2021 October 2, 2020 Total operating lease costs (a) $ 8.1 $ 8.4 Total finance lease costs $ 0.3 $ 0.3 Operating cash flows from operating leases $ 7.9 $ 8.0 Financing cash flows from finance leases 0.2 0.3 Total cash paid for amounts included in the measurement of lease liabilities $ 8.1 $ 8.3 Noncash operating right-of-use assets obtained in exchange for new lease liabilities (b) $ 5.6 $ 10.6 Noncash finance right-of-use assets obtained in exchange for new lease liabilities (b) 0.2 0.2 Total right-of-use assets obtained in exchange for new lease liabilities (b) $ 5.8 $ 10.8 (a) Includes variable and short-term lease expense, which were immaterial for fiscal year 2021 and 2020. (b) Excludes the impact of adopting the new leases standard in the first quarter of 2020.
Schedule of Finance Lease Liability Maturities	As of October 1, 2021, 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 2022 $ 7.4 $ 0.2 2023 4.9 0.2 2024 4.1 0.1 2025 3.9 — 2026 2.4 — Thereafter 6.7 — Total future lease payments $ 29.4 $ 0.5 Less: imputed interest (4.5) — Present value of lease liabilities $ 24.9 $ 0.5
Schedule of Operating Lease Liability Maturities	As of October 1, 2021, 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 2022 $ 7.4 $ 0.2 2023 4.9 0.2 2024 4.1 0.1 2025 3.9 — 2026 2.4 — Thereafter 6.7 — Total future lease payments $ 29.4 $ 0.5 Less: imputed interest (4.5) — Present value of lease liabilities $ 24.9 $ 0.5

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	12 Months Ended
	Oct. 01, 2021
Business Combinations [Abstract]
Schedule of Segment Reporting Information, by Segment	The following amounts represent revenues by reporting segment from Direct Conversion from the acquisition date of April 29, 2019, through September 27, 2019: (In millions) Direct Conversion Revenue Medical $ 4.5 Industrial 1.8 Total Direct Conversion revenues $ 6.3 Fiscal Year (In millions) 2021 2020 2019 Revenues Medical $ 643.8 $ 584.5 $ 596.8 Industrial 174.3 153.8 183.8 Total revenues 818.1 738.3 780.6 Gross profit Medical 203.2 136.4 188.9 Industrial 68.3 53.8 67.8 Total gross profit 271.5 190.2 256.7 Total operating expenses 197.4 223.9 211.0 Interest and other expense, net (45.5) (38.9) (24.2) Income (loss) before taxes 28.6 (72.6) 21.5 Income tax expense (benefit) 10.7 (15.2) 5.7 Net income (loss) 17.9 (57.4) 15.8 Less: Net income attributable to noncontrolling interests 0.5 0.5 0.3 Net income (loss) attributable to Varex $ 17.4 $ (57.9) $ 15.5

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	12 Months Ended
	Oct. 01, 2021
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Charges	Below is a detail of restructuring charges incurred during the 2021, 2020 and 2019 fiscal years, which predominately relate to the Company's Medical segment: (In millions) Location of Restructuring Charges in Consolidated Statements of Operations 2021 2020 2019 Inventory write downs Cost of revenues $ — $ 1.3 $ 3.1 Intangible assets impairment Impairment of intangible assets — — 4.8 Accelerated depreciation Cost of revenues 0.2 2.9 4.5 Severance costs Selling, general and administrative 0.6 5.7 6.2 Facility closure costs Selling, general and administrative 0.2 3.6 0.3 Total restructuring charges $ 1.0 $ 13.5 $ 18.9

OTHER FINANCIAL INFORMATION (Ta

OTHER FINANCIAL INFORMATION (Tables)	12 Months Ended
	Oct. 01, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Accrued Liabilities	The following table summarizes the Company’s accrued liabilities and other current liabilities: (In millions) October 1, 2021 October 2, 2020 Accrued compensation and benefits $ 44.2 $ 33.0 Product warranty 8.5 8.1 Income taxes payable 8.0 5.6 Right of return liability 6.7 7.4 Accrued interest 12.5 2.6 Other 9.8 13.8 Total accrued liabilities and other current liabilities $ 89.7 $ 70.5
Other Noncurrent Liabilities	The following table summarizes the Company’s other long-term liabilities: (In millions) October 1, 2021 October 2, 2020 Long-term income tax payable $ 1.8 $ 3.9 Environmental liabilities 0.6 0.8 Defined benefit obligation liability 5.9 6.5 Long-term right of return liability 20.3 19.9 Long-term other 3.2 3.8 Total other long-term liabilities $ 31.8 $ 34.9
Schedule of Other Nonoperating Income (Expense)	The following table summarizes the Company’s other (expense) income, net: Fiscal Years (In millions) 2021 2020 2019 Loss from equity method investments $ (3.4) $ (2.1) $ (2.3) Change in fair value of deferred consideration — 0.9 1.0 Impairment of investment — (2.7) — Realized loss on foreign currencies (0.2) (3.7) (1.9) Other 0.1 — — Total other expense, net $ (3.5) $ (7.6) $ (3.2)

NET INCOME (LOSS) PER SHARE (Ta

NET INCOME (LOSS) PER SHARE (Tables)	12 Months Ended
	Oct. 01, 2021
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 income per common share is as follows: Fiscal Year (In millions, except per share amounts) 2021 2020 2019 Net income (loss) attributable to Varex $ 17.4 $ (57.9) $ 15.5 Weighted average shares outstanding - basic 39.3 38.8 38.2 Dilutive effect of Convertible Senior Notes 0.6 — — Dilutive effect of share-based awards and other 0.4 — 0.4 Weighted average shares outstanding - diluted 40.3 38.8 38.6 Net income (loss) per share attributable to Varex - basic $ 0.44 $ (1.49) $ 0.41 Net income (loss) per share attributable to Varex - diluted $ 0.43 $ (1.49) $ 0.40 Anti-dilutive share-based awards, excluded 2.8 3.5 1.9

FINANCIAL DERIVATIVES AND HED_2

FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES (Tables)	12 Months Ended
	Oct. 01, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Derivative Instruments	The following table summarizes the amount of pre-tax income (loss) recognized from derivative instruments for the periods indicated: Amount of Gain or (Loss) Recognized in OCI on Derivatives Location of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (In millions) 2021 2020 2019 2021 2020 2019 Interest rate swap contracts $ — $ (3.4) $ (6.3) Interest expense $ — $ (1.5) $ 1.9 Amount of Gain or (Loss) Recognized in OCI on Derivatives 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) 2021 2020 2019 2021 2020 2019 Cross currency swap contracts $ (0.3) $ (1.3) $ (0.2) Interest expense $ 1.3 $ 1.5 $ 0.2
Schedule of Derivative Instruments	As of October 1, 2021, 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 3 $ 66.6 Derivative Assets Derivative Liabilities (In millions) October 1, 2021 October 2, 2020 October 1, 2021 October 2, 2020 Derivatives designated as net investment hedges Balance sheet location Balance sheet location Cross currency swap contracts Other current assets $ 1.2 $ 1.3 Other current liabilities $ — $ — Cross currency swap contracts Other non-current assets — — Other non-current liabilities (2.4) (2.1) $ 1.2 $ 1.3 $ (2.4) $ (2.1)

BORROWINGS (Tables)

BORROWINGS (Tables)	12 Months Ended
	Oct. 01, 2021
Debt Disclosure [Abstract]
Schedule of Short-Term and Long-Term Debt	The following table summarizes the Company's short-term and long-term debt: October 1, 2021 October 2, 2020 (In millions, except for percentages) Amount Weighted-Avg Effective Interest Rate Amount Weighted-Avg Effective Interest Rate $ Change Current maturities of long-term debt Other debt $ 2.8 $ 2.5 $ 0.3 Total current maturities of long-term debt $ 2.8 $ 2.5 $ 0.3 Non-current maturities of long-term debt: Asset-Based Loan $ — $ — $ — Convertible Senior Unsecured Notes 200.0 10.9% 200.0 10.9% — Senior Secured Notes 270.0 8.2% 300.0 8.2% (30.0) Other debt 7.8 8.8 (1.0) Total non-current maturities of long-term debt: $ 477.8 $ 508.8 $ (31.0) Unamortized issuance costs and debt discounts Unamortized discount - Convertible Notes $ (37.6) $ (45.4) $ 7.8 Unamortized issuance costs - Convertible Notes (4.1) (5.0) 0.9 Debt issuance costs - Senior Secured Notes (4.4) (5.6) 1.2 Total $ (46.1) $ (56.0) $ 9.9 Total debt outstanding, net $ 434.5 $ 455.3 $ (20.8)
Schedule of Maturities of Long-term Debt	Future principal payments of long-term debt outstanding as of October 1, 2021 are as follows: (In millions) Fiscal years: 2022 $ 2.8 2023 2.6 2024 1.7 2025 201.7 2026 1.4 Thereafter 270.4 Total debt outstanding $ 480.6 Less: current maturities of long-term debt (2.8) Non-current portion of long -term debt $ 477.8
Interest Income and Interest Expense Disclosure	The following table summarizes the Company's interest expense: Twelve Months Ended October 1, 2021 October 2, 2020 September 27, 2019 Contractual interest coupon and other $ 30.7 $ 19.1 $ 17.9 Amortization/extinguishment of debt issuance costs 3.5 7.0 3.2 Amortization of debt discounts 7.9 5.3 — Total interest expense $ 42.1 $ 31.4 $ 21.1

FAIR VALUE (Tables)

FAIR VALUE (Tables)	12 Months Ended
	Oct. 01, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and 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. (In millions) Fair Value Measurements at October 1, 2021 Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Significant Unobservable Inputs Total Assets: Cash equivalents - money market funds $ — $ 88.2 $ — $ 88.2 Derivative assets — 1.2 — 1.2 Total assets measured at fair value $ — $ 89.4 $ — $ 89.4 Liabilities: Derivative liabilities $ — $ 2.4 $ — $ 2.4 Total liabilities measured at fair value $ — $ 2.4 $ — $ 2.4 (In millions) Fair Value Measurements at October 2, 2020 Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Significant Unobservable Inputs Total Assets: Cash equivalents - Money market funds $ — $ 72.9 $ — $ 72.9 Derivative assets — 1.1 — 1.1 Total assets measured at fair value $ — $ 74.0 $ — $ 74.0 Liabilities: Derivative liabilities $ — $ 2.1 $ — $ 2.1 Deferred consideration — — — — Total liabilities measured at fair value $ — $ 2.1 $ — $ 2.1

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Oct. 01, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table reflects goodwill by reportable segment: (In millions) Medical Industrial Total Balance at October 2, 2020 $ 174.4 $ 118.7 $ 293.1 Other (0.2) (0.2) (0.4) Foreign currency translation adjustments (0.3) (0.2) (0.5) Balance at October 1, 2021 $ 173.9 $ 118.3 $ 292.2
Schedule of Finite-Lived Intangible Assets	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 consolidated balance sheets: October 1, 2021 October 2, 2020 (In millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired existing technology $ 74.2 $ (45.5) $ 28.7 $ 74.9 $ (37.5) $ 37.4 Patents, licenses and other 12.8 (10.9) 1.9 12.8 (9.7) 3.1 Customer contracts and supplier relationship 51.1 (31.0) 20.1 51.2 (24.2) 27.0 Total intangible assets $ 138.1 $ (87.4) $ 50.7 $ 138.9 $ (71.4) $ 67.5
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	As of October 1, 2021, the estimated future amortization expense of intangible assets with finite lives is as follows: (In millions) Fiscal years: 2022 $ 14.7 2023 13.6 2024 9.2 2025 3.0 2026 3.0 Thereafter 7.2 Total $ 50.7

NONCONTROLLING INTERESTS (Table

NONCONTROLLING INTERESTS (Tables)	12 Months Ended
	Oct. 01, 2021
Noncontrolling Interest [Abstract]
Changes in Redeemable Noncontrolling Interest	Changes in noncontrolling interests and redeemable noncontrolling interests were as follows: Fiscal Years 2021 2020 (In millions) Noncontrolling Redeemable Noncontrolling Interest Balance at beginning of period $ 14.1 $ 10.5 $ 3.3 Net income attributable to noncontrolling interests 0.5 0.5 — Reclassification of redeemable NCI in MeVis to noncontrolling interests in permanent equity — (11.3) 11.3 Other, including foreign currency remeasurement (1.4) 0.3 (0.5) Balance at end of period $ 13.2 $ — $ 14.1

EMPLOYEE STOCK PLANS (Tables)

EMPLOYEE STOCK PLANS (Tables)	12 Months Ended
	Oct. 01, 2021
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 share-based compensation expense and for the option component of the employee stock purchase plan shares: Fiscal Year (In millions) 2021 2020 2019 Cost of revenues $ 1.4 $ 1.1 $ 1.2 Research and development 3.0 2.5 2.2 Selling, general and administrative 9.5 9.8 8.3 Total share-based compensation expense $ 13.9 $ 13.4 $ 11.7
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions	The Company utilized the Black-Scholes valuation model for estimating the fair value of stock options granted and the option component of ESPP grants. The Company calculated the fair value of option grants and option component of ESPP grants on the respective dates of grant using the following weighted average assumptions: Employee Stock Option Plan Employee Stock Purchase Plans Fiscal Year Fiscal Year 2021 2020 2019 2021 2020 2019 Expected term (in years) 7.0 6.1 4.6 0.5 0.5 0.5 Risk-free interest rate 1.0 % 1.1 % 2.5 % 0.1 % 0.9 % 2.5 % Expected volatility 41.5 % 36.9 % 33.9 % 68.4 % 50.0 % 43.9 % Expected dividend — % — % — % — % — % — % Weighted average fair value at grant date $9.37 $7.53 $10.19 $5.90 $7.94 $7.81
Schedule of Share-based Compensation, Stock Options, Activity	The following table summarizes the activity for stock options under Varex’s employee incentive plans for the Company’s employees: (In thousands, except per share amounts and the remaining term) Options Price range Weighted Average Weighted Average Remaining Term (in years) Aggregate Intrinsic Value (1) Outstanding at October 2, 2020 2,735 $13.61 - $37.60 $ 29.23 4.5 $ — Granted 399 $25.06 - $27.95 25.19 Canceled, expired or forfeited (323) $25.17 - $37.10 28.90 Outstanding at October 1, 2021 2,811 $13.61 - $37.60 $ 28.69 4.7 $ 5,161.0 Exercisable at October 1, 2021 1,911 $13.61 - $37.60 $ 30.36 3.1 $ 1,597.6 (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 $28.58 as of October 1, 2021, the last trading date of the Company's respective fiscal years, 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, restricted stock awards and deferred stock units under Varex’s employee incentive plans for the Company’s employees: (In thousands, except per share amounts) Number of Shares Weighted Average Balance at October 2, 2020 955 $ 25.54 Granted 388 22.81 Vested (199) 33.63 Canceled, expired or forfeited (64) 23.39 Balance at October 1, 2021 1,080 $ 23.25

TAXES ON INCOME (Tables)

TAXES ON INCOME (Tables)	12 Months Ended
	Oct. 01, 2021
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	Income tax expense (benefit) was as follows: Fiscal Years (In millions) 2021 2020 2019 Current income tax expense (benefit) Federal $ 5.4 $ (16.3) $ 9.2 State and local 1.4 (1.4) 1.3 Foreign 6.8 5.7 6.8 Total current $ 13.6 $ (12.0) $ 17.3 Deferred i ncome tax expense (benefit) : Federal $ 1.8 $ (1.7) $ (10.0) State and local (1.3) 0.6 (1.6) Foreign (3.4) (2.1) — Total deferred $ (2.9) $ (3.2) $ (11.6) Income tax expense (benefit) $ 10.7 $ (15.2) $ 5.7
Schedule of Income before Income Tax, Domestic and Foreign	Income (loss) before taxes are generated from the following geographic areas: Fiscal Years (In millions) 2021 2020 2019 United States $ (4.1) $ (74.1) $ 5.9 Foreign 32.7 1.5 15.6 Income (loss) before taxes $ 28.6 $ (72.6) $ 21.5
Schedule of Effective Income Tax Rate Reconciliation	The effective tax rate differs from the U.S. federal statutory tax rate as a result of the following: Fiscal Years 2021 2020 (1) 2019 (1) Federal statutory income tax rate 21.0 % 21.0 % 21.0 % State and local taxes, net of federal tax benefit 0.3 1.0 (0.9) Mandatory repatriation tax on foreign earnings — — 1.9 Return to provision 4.2 2.8 (4.7) Research and development credit (4.2) 3.7 (10.2) Prior year research and development credit (0.3) — — Prior year deferred tax adjustments — 0.4 4.7 Foreign rate difference 1.7 (0.4) 6.0 Foreign research innovation box (3.8) — — Change in valuation allowance 8.4 (11.0) 11.2 U.S. tax reform - international provisions (0.7) — (4.7) U.S. net operating loss carryback 5.2 5.6 — Other 5.6 (2.2) 2.2 Effective tax rate 37.4 % 20.9 % 26.5 % (1) Certain prior year amounts have been reclassified to conform to current year presentation.
Schedule of Deferred Tax Assets and Liabilities	Significant components of deferred tax assets and liabilities are as follows: (In millions) October 1, 2021 October 2, 2020 (1) Deferred tax assets: Inventory adjustments $ 4.9 $ 4.4 Share-based compensation 5.5 4.2 Product warranty 1.8 1.7 Deferred compensation 1.6 1.3 Net operating loss carryforwards 25.7 27.0 Accrued vacation 1.0 1.0 Accrued incentives 4.2 1.7 Credit carryforwards 3.3 5.9 Deferred financing fees 3.0 3.3 Interest expense limitation 4.3 4.7 Lease liabilities 6.8 7.2 Other 6.4 4.3 $ 68.5 $ 66.7 Valuation allowance (30.2) (28.7) Total deferred tax assets $ 38.3 $ 38.0 Deferred tax liabilities: Acquired intangibles $ (13.9) $ (16.6) Property, plant and equipment (13.0) (12.4) Investments in privately held companies (1.8) (2.8) Operating lease assets (6.5) (6.7) Other (1.3) (1.3) Total deferred tax liabilities (36.5) (39.8) Net deferred tax assets $ 1.8 $ (1.8) Reported As: Deferred tax assets $ 38.3 $ 38.0 Deferred tax liabilities (36.5) (39.8) Net deferred tax assets (liabilities) $ 1.8 $ (1.8) (1) Certain prior year amounts have been reclassified to conform to current year presentation.
Summary of Valuation Allowance	Changes in the Company's valuation allowance for deferred tax assets were as follows: Fiscal Years (In millions) 2021 2020 2019 Valuation allowance balance–beginning of fiscal year $ 28.7 $ 18.8 $ 4.0 Increases resulting from business combinations — — 12.0 Other increases 5.4 10.2 2.8 Other decreases (3.9) (0.3) — Valuation allowance balance—end of fiscal year $ 30.2 $ 28.7 $ 18.8
Schedule of Unrecognized Tax Benefits Roll Forward	Changes in the Company’s unrecognized tax benefits were as follows: Fiscal Years (In millions) 2021 2020 Unrecognized tax benefits balance–beginning of fiscal year $ 0.8 $ 0.6 Additions based on tax positions related to a prior year 0.4 0.2 Additions based on tax positions related to the current year 0.1 — Reductions resulting from the expiration of the applicable statute of limitations (0.2) — Unrecognized tax benefits balance—end of fiscal year $ 1.1 $ 0.8

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Oct. 01, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following amounts represent revenues by reporting segment from Direct Conversion from the acquisition date of April 29, 2019, through September 27, 2019: (In millions) Direct Conversion Revenue Medical $ 4.5 Industrial 1.8 Total Direct Conversion revenues $ 6.3 Fiscal Year (In millions) 2021 2020 2019 Revenues Medical $ 643.8 $ 584.5 $ 596.8 Industrial 174.3 153.8 183.8 Total revenues 818.1 738.3 780.6 Gross profit Medical 203.2 136.4 188.9 Industrial 68.3 53.8 67.8 Total gross profit 271.5 190.2 256.7 Total operating expenses 197.4 223.9 211.0 Interest and other expense, net (45.5) (38.9) (24.2) Income (loss) before taxes 28.6 (72.6) 21.5 Income tax expense (benefit) 10.7 (15.2) 5.7 Net income (loss) 17.9 (57.4) 15.8 Less: Net income attributable to noncontrolling interests 0.5 0.5 0.3 Net income (loss) attributable to Varex $ 17.4 $ (57.9) $ 15.5
Revenue from External Customers by Geographic Areas	Geographic Information Revenues Long-Lived Assets Fiscal Years Fiscal Years (In millions) 2021 2020 2019 2021 2020 Americas $ 268.5 $ 255.0 $ 282.6 $ 105.4 $ 115.9 EMEA 276.3 231.5 269.0 23.9 21.5 APAC 273.3 251.8 229.0 10.9 7.8 Total company $ 818.1 $ 738.3 $ 780.6 $ 140.2 $ 145.2

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables)	12 Months Ended
	Oct. 01, 2021
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income (Loss)	The following tables present the changes in the accumulated balances for each component of other comprehensive income (loss): (In millions) Unrealized Gain (Loss) on Derivative Financial Instruments Unrealized Gain (Loss) on Defined Benefit Obligations Currency Translation Adjustment Accumulated Other Comprehensive (Loss) Income Balance at September 27, 2019 $ (0.4) $ (1.3) $ — $ (1.7) Other comprehensive (loss) income before reclassifications (3.4) 0.9 (1.3) (3.8) Amount reclassified out of other comprehensive income 1.5 — — 1.5 Amount reclassified out of other comprehensive income - transaction remote 2.4 — — 2.4 Income tax impact (0.1) (0.3) 0.3 (0.1) Foreign currency translation adjustment — — 2.5 2.5 Balance at October 2, 2020 $ — $ (0.7) $ 1.5 $ 0.8 Other comprehensive loss before reclassifications — (0.1) (0.3) (0.4) Income tax impact — — 0.1 0.1 Foreign currency translation adjustment — — (0.5) (0.5) Balance at October 1, 2021 $ — $ (0.8) $ 0.8 $ —

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Segment Reporting (Details)	12 Months Ended
	Oct. 01, 2021segment
Accounting Policies [Abstract]
Number of operating segments	2

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Variable Interest Entities (Details)	12 Months Ended
	Oct. 01, 2021entity
Accounting Policies [Abstract]
Number of variable interest entities	2

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Restricted Cash (Details) - USD ($) $ in Millions	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019	Sep. 28, 2018
Accounting Policies [Abstract]
Cash and cash equivalents	$ 144.6	$ 100.6	$ 29.9
Restricted cash	1.5	1.5	1.4
Cash and cash equivalents and restricted cash as reported per statement of cash flows	$ 146.1	$ 102.1	$ 31.3	$ 53.4

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Concentration of Risk (Details) - Canon Medical Systems Corporation - Customer Concentration Risk	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Sales Revenue, Net
Concentration Risk [Line Items]
Concentration risk, percentage	17.90%	20.50%	17.30%
Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	16.20%	12.00%

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Inventories (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Inventory [Line Items]
Raw materials and parts	$ 168	$ 184.6
Work-in-process	20.4	23.9
Finished goods	36.4	63.4
Total inventories	224.8	271.9
Inventory write-down	3.5	18.1	$ 3.1
COVID-19 Pandemic
Inventory [Line Items]
Inventory write-down	$ 3.5	$ 15.8

SUMMARY OF SIGNIFICANT ACCOUN_9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, and finance lease right-of-use asset, gross	$ 354.8	$ 356.4
Property, plant, and equipment, and finance lease right-of-use asset, accumulated depreciation and amortization	(214.6)	(211.2)
Property, plant, and equipment, net	140.2	145.2
Depreciation	$ 20.5	22.3	$ 23.5
Accelerated depreciation			$ 4.5
Land Improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful lives	15 years
Building
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful lives	30 years
Land
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, and finance lease right-of-use asset, gross	$ 8.3	8.3
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, and finance lease right-of-use asset, gross	148.7	137.2
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, and finance lease right-of-use asset, gross	179.7	175.5
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, and finance lease right-of-use asset, gross	$ 18.1	$ 35.4
Minimum | Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful lives	3 years
Maximum | Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful lives	7 years

SUMMARY OF SIGNIFICANT ACCOU_10

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Investments (Details) - USD ($)	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Equity method investment, other than temporary impairment	$ 0	$ 2,700,000

SUMMARY OF SIGNIFICANT ACCOU_11

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Goodwill and Intangible Assets (Details)	12 Months Ended
	Oct. 01, 2021
Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	2 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	7 years

SUMMARY OF SIGNIFICANT ACCOU_12

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Impairment of Long-Lived Assets, Intangible Assets and Goodwill (Details)	12 Months Ended
	Oct. 01, 2021USD ($)reportingUnit	Oct. 02, 2020USD ($)reportingUnit	Sep. 27, 2019USD ($)reportingUnit
Accounting Policies [Abstract]
Number of reporting units | reportingUnit	2	2	2
Impairment of indefinite-lived intangible assets, excluding goodwill	$ 0	$ 0	$ 0
Impairment of intangible assets	$ 0	$ 2,800,000	$ 4,800,000

SUMMARY OF SIGNIFICANT ACCOU_13

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Product Warranty (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Movement in Standard Product Warranty Accrual [Roll Forward]
Accrued product warranty, at beginning of period	$ 8.1	$ 8.1
Charged to cost of revenues	13	15.1
Actual product warranty expenditures	(12.6)	(15.1)
Accrued product warranty, at end of period	$ 8.5	$ 8.1
Minimum
Product Warranty Liability [Line Items]
Warranty term (in months)	12 months
Maximum
Product Warranty Liability [Line Items]
Warranty term (in months)	24 months

SUMMARY OF SIGNIFICANT ACCOU_14

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions	Oct. 01, 2021	Oct. 02, 2020
Accounting Policies [Abstract]
Allowance for doubtful accounts	$ 1	$ 0.3

REVENUE RECOGNITION - Rollfowar

REVENUE RECOGNITION - Rollfoward of Contract Assets and Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Change in Contract with Customer, Asset [Abstract]
Contract with customer, asset, beginning balance	$ 24.6	$ 23.7
Costs recovered from product returns during the period	(4.8)	(5.6)
Contract asset from shipments of products, subject to return during the period	6.4	6.5
Adjustment for actual vs reserved product returns	(1.9)
Contract with customer, asset, ending balance	24.3	24.6
Change in Contract with Customer, Liability [Abstract]
Contract with customer, liability, beginning balance	27.4	26.4
Release of refund liability included in beginning of year refund liability	(5.3)	(6.2)
Additions to refund liabilities	7.1	7.2
Adjustment for actual vs reserved product returns	(2.2)
Contract with customer, liability, ending balance	$ 27	$ 27.4

Revenue from Contract with Cust

Revenue from Contract with Customer - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Revenue from Contract with Customer [Abstract]
Contract with customer, liability, revenue recognized	$ 6.9	$ 8.4

LEASES - Narrative (Details)

LEASES - Narrative (Details)	12 Months Ended
	Oct. 01, 2021
Lessee, Lease, Description [Line Items]
Lease renewal term	6 years
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	6 years

LEASES - Schedule of Lease Righ

LEASES - Schedule of Lease Right-of-Use Assets and Liabilities (Details) - USD ($) $ in Millions	Oct. 01, 2021	Oct. 02, 2020
Assets [Abstract]
Operating lease assets	$ 24.3	$ 27.7
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, plant and equipment, net	Property, plant and equipment, net
Finance lease right-of-use assets	$ 0.5	$ 0.5
Liabilities
Operating lease liabilities (current)	$ 6.2	$ 6.1
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued liabilities and other current liabilities	Accrued liabilities and other current liabilities
Finance lease liabilities (current)	$ 0.2	$ 0.2
Operating lease liabilities (non-current)	$ 18.7	$ 23.1
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other long-term liabilities	Other long-term liabilities
Finance lease liabilities (non-current)	$ 0.3	$ 0.4

LEASES - Schedule of Weighted A

LEASES - Schedule of Weighted Average Remaining Lease Terms and Discount Rates (Details)	Oct. 01, 2021	Oct. 02, 2020
Operating Leases [Abstract]
Operating lease weighted average remaining lease term (in years)	5 years 10 months 24 days	6 years 7 months 6 days
Operating lease weighted average discount rate	5.50%	4.50%
Finance Leases [Abstract]
Finance lease weighted average remaining lease term (in years)	2 years 6 months	3 years 3 months 18 days
Finance lease weighted average discount rate	3.60%	4.10%

LEASES - Schedule of Operating

LEASES - Schedule of Operating Lease Cost and Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Leases [Abstract]
Total operating lease costs	$ 8.1	$ 8.4
Total finance lease costs	0.3	0.3
Operating cash flows from operating leases	7.9	8
Financing cash flows from finance leases	0.2	0.3
Total cash paid for amounts included in the measurement of lease liabilities	8.1	8.3
Noncash operating right-of-use assets obtained in exchange for new lease liabilities	5.6	10.6
Noncash finance right-of-use assets obtained in exchange for new lease liabilities	0.2	0.2
Total right-of-use assets obtained in exchange for new lease liabilities	$ 5.8	$ 10.8

LEASES - Schedule of Operatin_2

LEASES - Schedule of Operating and Finance Lease Liability Maturities (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 27, 2019	Oct. 01, 2021
Leases [Abstract]
Operating leases, rent expense	$ 5.1
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2022		$ 7.4
2023		4.9
2024		4.1
2025		3.9
2026		2.4
Thereafter		6.7
Total future lease payments		29.4
Less: imputed interest		(4.5)
Present value of lease liabilities		24.9
Finance Lease, Liability, Payment, Due [Abstract]
2022		0.2
2023		0.2
2024		0.1
2025		0
2026		0
Thereafter		0
Total future lease payments		0.5
Less: imputed interest		0
Present value of lease liabilities		$ 0.5

BUSINESS COMBINATIONS - Direct

BUSINESS COMBINATIONS - Direct Conversion Narrative (Details)	Apr. 30, 2019
Direct Conversion AB
Business Acquisition [Line Items]
Percentage of voting interests acquired	98.20%

BUSINESS COMBINATIONS - Revenue

BUSINESS COMBINATIONS - Revenues by Segment (Details) - Direct Conversion AB $ in Millions	5 Months Ended
	Sep. 27, 2019USD ($)
Segment Reporting Information [Line Items]
Revenues	$ 6.3
Medical
Segment Reporting Information [Line Items]
Revenues	4.5
Industrial
Segment Reporting Information [Line Items]
Revenues	$ 1.8

RELATED-PARTY TRANSACTIONS - In

RELATED-PARTY TRANSACTIONS - Investment in Privately Held Companies (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2021	Oct. 01, 2021	Dec. 31, 2021	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Related Party Transaction [Line Items]
Loss from equity method investments				$ (3.4)	$ (2.1)	$ (2.3)
Equity method investments		$ 3		3	2.5
Contributions to equity method investments				$ 1.4	1.8	3.9
Equity Method Investee | dpiX Holding
Related Party Transaction [Line Items]
Percentage of manufacturing capacity				50.00%
Equity Method Investee | dpiX LLC
Related Party Transaction [Line Items]
Equity method investment, ownership percentage		100.00%		100.00%
dpiX Holding
Related Party Transaction [Line Items]
Loss from equity method investments				$ (2.3)	(0.8)	(1.1)
Equity method investments		$ 45		$ 45	47.3
dpiX Holding | Equity Method Investee
Related Party Transaction [Line Items]
Equity method investment, ownership percentage		40.00%		40.00%
Purchases from related party				$ 18.5	20.4	23.5
Accounts payable, related parties		$ 2.8		$ 2.8	4.6
Percentage of fixed costs				50.00%
VEC Imaging
Related Party Transaction [Line Items]
Contributions to equity method investments		1.2		$ 5.1
Due to related parties		$ 0.3		0.3
VEC Imaging | Equity Method Investee
Related Party Transaction [Line Items]
Loss from equity method investments				$ (1.1)	$ (1.2)	$ (0.9)
CETTEEN GmbH | VEC Imaging
Related Party Transaction [Line Items]
Equity method investment, ownership percentage		50.00%		50.00%
Forecast | Fixed Cost Commitments | dpiX Holding
Related Party Transaction [Line Items]
Related party transaction, expected fixed cost	$ 2.9		$ 11.6

RESTRUCTURING - Narrative (Deta

RESTRUCTURING - Narrative (Details) $ in Millions	Jul. 29, 2020employee	Oct. 01, 2021USD ($)	Oct. 02, 2020USD ($)	Sep. 27, 2019USD ($)
Restructuring Cost and Reserve [Line Items]
Approximate number of positions eliminated | employee	94
Glass Production And Site Closure
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment charges | $		$ 0	$ 9.1	$ 18.9

RESTRUCTURING - Restructuring C

RESTRUCTURING - Restructuring Charges Incurred (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Restructuring Cost and Reserve [Line Items]
Accelerated depreciation			$ 4.5
Santa Clara Relocation, Workforce Reduction and Other Restructuring Activities
Restructuring Cost and Reserve [Line Items]
Inventory write-down	$ 0	$ 1.3	3.1
Intangible assets impairment	0	0	4.8
Accelerated depreciation	0.2	2.9	4.5
Severance costs	0.6	5.7	6.2
Facility closure costs	0.2	3.6	0.3
Total restructuring charges	$ 1	$ 13.5	$ 18.9

OTHER FINANCIAL INFORMATION -Ac

OTHER FINANCIAL INFORMATION -Accrued Liabilities and Other Current Liabilities (Details) - USD ($) $ in Millions	Oct. 01, 2021	Oct. 02, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued compensation and benefits	$ 44.2	$ 33
Product warranty	8.5	8.1
Income taxes payable	8	5.6
Right of return liability	6.7	7.4
Accrued interest	12.5	2.6
Other	9.8	13.8
Accrued liabilities and other current liabilities	$ 89.7	$ 70.5

OTHER FINANCIAL INFORMATION - O

OTHER FINANCIAL INFORMATION - Other Long-Term Liabilities (Details) - USD ($) $ in Millions	Oct. 01, 2021	Oct. 02, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Long-term income tax payable	$ 1.8	$ 3.9
Environmental liabilities	0.6	0.8
Defined benefit obligation liability	5.9	6.5
Long-term right of return liability	20.3	19.9
Long-term other	3.2	3.8
Total other long-term liabilities	$ 31.8	$ 34.9

OTHER FINANCIAL INFORMATION -_2

OTHER FINANCIAL INFORMATION - Other Income (Expense) Net (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Loss from equity method investments	$ (3.4)	$ (2.1)	$ (2.3)
Change in fair value of deferred consideration	0	0.9	1
Impairment of investment	0	(2.7)	0
Realized loss on foreign currencies	(0.2)	(3.7)	(1.9)
Other	0.1	0	0
Total other expense, net	$ (3.5)	$ (7.6)	$ (3.2)

NET INCOME (LOSS) PER SHARE - (

NET INCOME (LOSS) PER SHARE - (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Earnings Per Share [Abstract]
Net income (loss) attributable to Varex	$ 17.4	$ (57.9)	$ 15.5
Weighted average shares outstanding - basic (in shares)	39.3	38.8	38.2
Dilutive effect of convertible senior notes (in shares)	0.6	0	0
Dilutive effect of common share-based awards and other (in shares)	0.4	0	0.4
Diluted (in shares)	40.3	38.8	38.6
Net earnings per share attributable to Varex - basic (in USD per share)	$ 0.44	$ (1.49)	$ 0.41
Net earnings per share attributable to Varex - diluted (in USD per share)	$ 0.43	$ (1.49)	$ 0.40
Anti-dilutive employee shared based awards, excluded (in shares)	2.8	3.5	1.9

FINANCIAL DERIVATIVES AND HED_3

FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES - Summary of Income Recognized From Derivative Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Derivative [Line Items]
Unrealized gain on interest rate swap contracts, net of tax	$ 0	$ 0.4	$ (6.2)
Designated as Hedging Instrument | Interest Rate Swap
Derivative [Line Items]
Unrealized gain on interest rate swap contracts, net of tax	0	(3.4)	(6.3)
Designated as Hedging Instrument | Interest Rate Swap | Interest Expense
Derivative [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Fiscal Year Ended	0	(1.5)	1.9
Designated as Hedging Instrument | Cross Currency Swap Contracts
Derivative [Line Items]
Unrealized gain on interest rate swap contracts, net of tax	(0.3)	(1.3)	(0.2)
Designated as Hedging Instrument | Cross Currency Swap Contracts | Interest Expense
Derivative [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Fiscal Year Ended	$ 1.3	$ 1.5	$ 0.2

FINANCIAL DERIVATIVES AND HED_4

FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES - Summary of Derivative Instruments (Details) - Cash Flow Hedging - Designated as Hedging Instrument - Cross Currency Swap Contracts $ in Millions	Oct. 01, 2021USD ($)derivativeContract
Derivative [Line Items]
Number of Instruments | derivativeContract	3
Notional Value | $	$ 66.6

FINANCIAL DERIVATIVES AND HED_5

FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES - Summary of Derivatives at Fair Value (Details) - Cash Flow Hedging - Designated as Hedging Instrument - Cross Currency Swap Contracts - USD ($) $ in Millions	Oct. 01, 2021	Oct. 02, 2020
Derivative [Line Items]
Derivative Assets	$ 1.2	$ 1.3
Derivative Liabilities	(2.4)	(2.1)
Other current assets
Derivative [Line Items]
Derivative Assets	1.2	1.3
Other current liabilities
Derivative [Line Items]
Derivative Liabilities	0	0
Other non-current assets
Derivative [Line Items]
Derivative Assets	0	0
Other non-current liabilities
Derivative [Line Items]
Derivative Liabilities	$ (2.4)	$ (2.1)

BORROWINGS - Schedule of Short-

BORROWINGS - Schedule of Short-Term and Long-Term Debt (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Current maturities of long-term debt
Current maturities of long-term debt	$ 2.8	$ 2.5
Net repayments of long term debt current maturities	0.3
Non-current maturities of long-term debt:
Long-term debt excluding current maturities, gross	477.8	508.8
Net proceeds from long-term debt, excluding current maturities	(31)
Unamortized Issuance Costs and Debt Discounts [Abstract]
Total	(46.1)	(56)
Amortization of deferred loan costs	3.5	7	$ 3.2
Total	9.9
Total debt outstanding, net	434.5	455.3
Net proceeds from debt, net of issuance costs	(20.8)
Convertible Debt
Non-current maturities of long-term debt:
Long-term debt excluding current maturities, gross	$ 200	$ 200
Weighted-average interest rate, long-term debt	10.90%	10.90%
Proceeds from convertible debt	$ 0
Unamortized Issuance Costs and Debt Discounts [Abstract]
Debt issuance costs	(37.6)	$ (45.4)
Unamortized issuance costs - Convertible Notes	(4.1)	(5)
Amortization of deferred loan costs	7.8
Decrease in unamortized discount	0.9
Other Debt
Current maturities of long-term debt
Current maturities of long-term debt	2.8	2.5
Proceeds from repayment of other debt	0.3
Non-current maturities of long-term debt:
Long-term debt excluding current maturities, gross	7.8	8.8
Proceeds from repayment of other long-term debt	(1)
Senior Secured Notes | Secured Debt
Non-current maturities of long-term debt:
Long-term debt excluding current maturities, gross	$ 270	$ 300
Weighted-average interest rate, long-term debt	8.20%	8.20%
Proceeds from issuance of senior secured notes	$ (30)
Revolving Credit Facility | Asset-Based Loan Revolving Credit Facility
Non-current maturities of long-term debt:
Long-term debt excluding current maturities, gross	0	$ 0
Repayments of long term lines of credit	0
Secured Debt
Unamortized Issuance Costs and Debt Discounts [Abstract]
Debt issuance costs	(4.4)	$ (5.6)
Amortization of deferred loan costs	$ 1.2

BORROWINGS - Schedule of Debt M

BORROWINGS - Schedule of Debt Maturities (Details) - USD ($) $ in Millions	Oct. 01, 2021	Oct. 02, 2020
Debt Disclosure [Abstract]
2022	$ 2.8
2023	2.6
2024	1.7
2025	201.7
2026	1.4
Thereafter	270.4
Total debt outstanding	480.6
Less: current maturities of long-term debt	(2.8)	$ (2.5)
Non-current portion of long -term debt	$ 477.8	$ 508.8

BORROWINGS - Interest Income an

BORROWINGS - Interest Income and Interest Expense Disclosure (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Debt Disclosure [Abstract]
Contractual interest coupon and other	$ 30.7	$ 19.1	$ 17.9
Amortization of deferred loan costs	3.5	7	3.2
Amortization of debt discounts	7.9	5.3	0
Total interest expense	$ 42.1	$ 31.4	$ 21.1

BORROWINGS - Convertible Senior

BORROWINGS - Convertible Senior Unsecured Notes Narrative (Details) - Convertible Debt - USD ($)	Jun. 09, 2020	Oct. 01, 2021
Line of Credit Facility [Line Items]
Proceeds from convertible debt		$ 0
Convertible Notes
Line of Credit Facility [Line Items]
Debt instrument, face amount	$ 200,000,000
Interest rate, stated percentage	4.00%
Proceeds from convertible debt	$ 193,100,000

BORROWINGS - Call Spread Narrat

BORROWINGS - Call Spread Narrative (Details) equity_instrument in Millions	Oct. 02, 2020equity_instrument	Jun. 05, 2020equity_instrument$ / shares
Debt Instrument [Line Items]
Exercise price of warrants or rights (USD per share)		$ 24.975
Increase of strike price over sale price		50.00%
Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Convertible, conversion price (USD per share)		$ 20.81
Number of equity investments | equity_instrument	9.6	9.6

BORROWINGS - Senior Secured Not

BORROWINGS - Senior Secured Notes Narrative (Details) - Senior Secured Notes - Secured Debt - USD ($)	Jul. 15, 2021	Sep. 30, 2020
Debt Instrument [Line Items]
Debt instrument, face amount		$ 300,000,000
Interest rate, stated percentage		7.875%
Senior Notes	$ 30,000,000
Debt instrument, redemption of senior secured notes, including premium and accrued interest	31,500,000
Loss related to redemption premium and write-offs	$ 1,400,000
Debt instrument, redemption price, percentage of principal amount redeemed	103.00%

BORROWINGS - Asset-Based Loan N

BORROWINGS - Asset-Based Loan Narrative (Details) - Revolving Credit Facility - Asset-Based Loan Revolving Credit Facility - Secured Debt	Sep. 30, 2020USD ($)	Oct. 01, 2021USD ($)
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 100,000,000
Long term line of credit	$ 100,000,000	$ 69,400,000
Debt covenant, Fixed Charge Coverage Ratio		1
Debt covenant, line of credit facility, excess availability as percent of Line Cap threshold		10.00%
Debt covenant, line of credit facility, excess availability threshold		$ 7,500,000
Minimum
Debt Instrument [Line Items]
Line of credit facility, commitment fee percentage	0.375%
Maximum
Debt Instrument [Line Items]
Line of credit facility, commitment fee percentage	0.50%

BORROWINGS - Credit Agreement N

BORROWINGS - Credit Agreement Narrative (Details) - USD ($)	Sep. 30, 2020	May 01, 2017
Revolving Credit Facility and Secured Debt
Debt Instrument [Line Items]
Debt instrument, face amount		$ 400,000,000
Secured Debt
Debt Instrument [Line Items]
Repayments of debt	$ 265,500,000
Payment of debt accrued interest	2,000,000
Write off of deferred debt issuance cost	3,800,000
Loss on extinguishment of debt	$ 3,800,000
Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 200,000,000
Debt instrument term		5 years

FAIR VALUE - (Details)

FAIR VALUE - (Details) - USD ($) $ in Millions	Oct. 01, 2021	Oct. 02, 2020
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) | Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 296.3	$ 178.5
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) | Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	304.8	312.8
Fair Value, Measurements, Recurring
Assets:
Cash equivalents - money market funds	88.2	72.9
Derivative assets	1.2	1.1
Total assets measured at fair value	89.4	74
Liabilities:
Derivative liabilities	2.4	2.1
Deferred consideration		0
Total liabilities measured at fair value	2.4	2.1
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)
Assets:
Cash equivalents - money market funds	0	0
Derivative assets	0	0
Total assets measured at fair value	0	0
Liabilities:
Derivative liabilities	0	0
Deferred consideration		0
Total liabilities measured at fair value	0	0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Assets:
Cash equivalents - money market funds	88.2	72.9
Derivative assets	1.2	1.1
Total assets measured at fair value	89.4	74
Liabilities:
Derivative liabilities	2.4	2.1
Deferred consideration		0
Total liabilities measured at fair value	2.4	2.1
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents - money market funds	0	0
Derivative assets	0	0
Total assets measured at fair value	0	0
Liabilities:
Derivative liabilities	0	0
Deferred consideration		0
Total liabilities measured at fair value	$ 0	$ 0

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Summary of Goodwill (Details) $ in Millions	12 Months Ended
	Oct. 01, 2021USD ($)
Goodwill [Roll Forward]
Balance at October 2, 2020	$ 293.1
Other	(0.4)
Foreign currency translation adjustments	(0.5)
Balance at October 1, 2021	292.2
Medical
Goodwill [Roll Forward]
Balance at October 2, 2020	174.4
Other	(0.2)
Foreign currency translation adjustments	(0.3)
Balance at October 1, 2021	173.9
Industrial
Goodwill [Roll Forward]
Balance at October 2, 2020	118.7
Other	(0.2)
Foreign currency translation adjustments	(0.2)
Balance at October 1, 2021	$ 118.3

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets (Details) - USD ($) $ in Millions	Oct. 01, 2021	Oct. 02, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 138.1	$ 138.9
Accumulated Amortization	(87.4)	(71.4)
Net Carrying Amount	50.7	67.5
Acquired existing technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	74.2	74.9
Accumulated Amortization	(45.5)	(37.5)
Net Carrying Amount	28.7	37.4
Patents, licenses and other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	12.8	12.8
Accumulated Amortization	(10.9)	(9.7)
Net Carrying Amount	1.9	3.1
Customer contracts and supplier relationship
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	51.1	51.2
Accumulated Amortization	(31)	(24.2)
Net Carrying Amount	$ 20.1	$ 27

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 16.8	$ 17.2	$ 15.7
Impairment of intangible assets	$ 0	$ 2.8	$ 4.8

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS - Amortization Schedule (Details) - USD ($) $ in Millions	Oct. 01, 2021	Oct. 02, 2020
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2022	$ 14.7
2023	13.6
2024	9.2
2025	3
2026	3
Thereafter	7.2
Net Carrying Amount	$ 50.7	$ 67.5

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - (Details) ¥ in Millions, $ in Millions	12 Months Ended
	Sep. 29, 2023CNY (¥)	Sep. 29, 2023USD ($)	Oct. 01, 2021USD ($)
Other Commitments [Line Items]
Environmental liability, current and noncurrent			$ 0.8
Forecast
Other Commitments [Line Items]
Payments to acquire productive assets	¥ 1,084.7	$ 9.8

NONCONTROLLING INTERESTS - Narr

NONCONTROLLING INTERESTS - Narrative (Details) - € / shares shares in Millions	1 Months Ended
	Oct. 31, 2015	Oct. 01, 2021	Apr. 30, 2021	Apr. 30, 2019	Sep. 30, 2018	Apr. 30, 2015
Joint Venture In Saudi Arabia
Noncontrolling Interest [Line Items]
Noncontrolling interest, ownership percentage by parent					75.00%
Noncontrolling interest, ownership percentage by noncontrolling owners					25.00%
Direct Conversion AB
Noncontrolling Interest [Line Items]
Percentage of voting interests acquired				98.20%
Percentage of voting interests owned			100.00%
MeVis Medical Solutions AG (MeVis)
Noncontrolling Interest [Line Items]
Percentage of voting interests acquired						73.50%
Annual recurring compensation (in euros per share)	€ 0.95
Temporary equity, redemption price per share (in eur per share)	€ 19.77
Temporary equity, shares outstanding (in shares)		0.5
MeVis Medical Solutions AG (MeVis) | MeVis Medical Solutions AG (MeVis)
Noncontrolling Interest [Line Items]
Noncontrolling interest, ownership percentage by noncontrolling owners		26.30%

NONCONTROLLING INTERESTS - Summ

NONCONTROLLING INTERESTS - Summary of Changes in Redeemable Noncontrolling Interests & Noncontrolling INterets (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance at beginning of period	$ 14.1
Reclassification from mezzanine equity to equity for noncontrolling interest in MeVis Medical Solutions, AG		$ 11.3
Other, including foreign currency remeasurement		0.3
Balance at end of period	13.2	14.1
Balance at beginning of period	0	10.5
Net income attributable to noncontrolling interests		0.5
Reclassification of redeemable NCI in MeVis to noncontrolling interests in permanent equity		(11.3)
Other, including foreign currency remeasurement		0.3
Balance at end of period		0
Noncontrolling Interests
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance at beginning of period	14.1	3.3
Net income attributable to noncontrolling interests	0.5	0
Reclassification from mezzanine equity to equity for noncontrolling interest in MeVis Medical Solutions, AG	0	11.3
Other, including foreign currency remeasurement	(1.4)	(0.5)
Balance at end of period	13.2	14.1
Other, including foreign currency remeasurement	$ (1.4)	$ (0.5)

EMPLOYEE STOCK PLANS - Narrativ

EMPLOYEE STOCK PLANS - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2017	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend		0.00%
Options, grants in period, grant date fair value		$ 3.7	$ 4.4	$ 3
Options exercised, intrinsic value		0	0.4	0.2
Grant-date fair value of shares granted in the period		8.9	11.9	9
Shares outstanding, market value		$ 30.9	$ 11.8	$ 19.2
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend		0.00%	0.00%	0.00%
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost not yet recognized		$ 22.9
Compensation cost period for recognition (in years)		2 years 8 months 12 days
Expected dividend		0.00%	0.00%	0.00%
2017 ESPP | Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price of common stock, percent	85.00%	85.00%
Number of shares authorized (in shares)	1,000,000
Stock plan offering period (in months)		6 months
2017 ESPP | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)		300,000
2017 Omnibus Stock Plan | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)		4,100,000
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in months)		36 months
Award expiration period (in years)		7 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in months)		48 months
Award expiration period (in years)		10 years

EMPLOYEE STOCK PLANS - Share-ba

EMPLOYEE STOCK PLANS - Share-based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share-based compensation expense	$ 13.9	$ 13.4	$ 11.7
Cost of revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share-based compensation expense	1.4	1.1	1.2
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share-based compensation expense	3	2.5	2.2
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share-based compensation expense	$ 9.5	$ 9.8	$ 8.3

EMPLOYEE STOCK PLANS - Valuatio

EMPLOYEE STOCK PLANS - Valuation Assumptions (Details) - $ / shares	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend	0.00%
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	7 years	6 years 1 month 6 days	4 years 7 months 6 days
Risk-free interest rate	1.00%	1.10%	2.50%
Expected volatility	41.50%	36.90%	33.90%
Expected dividend	0.00%	0.00%	0.00%
Weighted average fair value at grant date (in USD per share)	$ 9.37	$ 7.53	$ 10.19
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 months	6 months	6 months
Risk-free interest rate	0.10%	0.90%	2.50%
Expected volatility	68.40%	50.00%	43.90%
Expected dividend	0.00%	0.00%	0.00%
Weighted average fair value at grant date (in USD per share)	$ 5.90	$ 7.94	$ 7.81

EMPLOYEE STOCK PLANS - Stock Op

EMPLOYEE STOCK PLANS - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Options
Options, outstanding, beginning balance (in shares)	2,735
Options, grants in period (in shares)	399
Options, forfeitures and expirations in period (in shares)	(323)
Options, outstanding, ending balance (in shares)	2,811	2,735
Options, exercisable (in shares)	1,911
Weighted Average Exercise Price
Options, outstanding, weighted average exercise price, beginning (in USD per share)	$ 29.23
Options, grants in period, weighted average exercise price (in USD per share)	25.19
Options, forfeitures and expirations in period, weighted average exercise price (in USD per share)	28.90
Options, outstanding, weighted average exercise price, ending (in USD per share)	28.69	$ 29.23
Options, exercisable, weighted average exercise price (in USD per share)	$ 30.36
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options, outstanding, weighted average remaining contractual term (in years)	4 years 8 months 12 days	4 years 6 months
Options, exercisable, weighted average remaining contractual term (in years)	3 years 1 month 6 days
Options, outstanding, intrinsic value	$ 5,161	$ 0
Options, exercisable, intrinsic value	$ 1,597.6
Share price (in usd per share)	$ 28.58
Minimum
Price Range
Options, outstanding, price, beginning (in USD per share)	13.61
Options, grants in period, price (in USD per share)	25.06
Options, forfeitures and expirations in period, price (in USD per share)	25.17
Options, outstanding, price, ending (in USD per share)	13.61	$ 13.61
Options, exercisable, price (in USD per share)	13.61
Maximum
Price Range
Options, outstanding, price, beginning (in USD per share)	37.60
Options, grants in period, price (in USD per share)	27.95
Options, forfeitures and expirations in period, price (in USD per share)	37.10
Options, outstanding, price, ending (in USD per share)	37.60	$ 37.60
Options, exercisable, price (in USD per share)	$ 37.60

EMPLOYEE STOCK PLANS - Restrict

EMPLOYEE STOCK PLANS - Restricted Stock and Performance Stock (Details) shares in Thousands	12 Months Ended
	Oct. 01, 2021$ / sharesshares
Number of Shares
Restricted Stock Units and Performance Stock Units, nonvested, beginning balance (in shares) | shares	955
Restricted Stock Units and Performance Stock Units, grants in period (in shares) | shares	388
Restricted Stock Units and Performance Stock Units, vested in period (in shares) | shares	(199)
Restricted Stock Units and Performance Stock Units, canceled, expired or forfeited in period (in shares) | shares	(64)
Restricted Stock Units and Performance Stock Units, nonvested, ending balance (in shares) | shares	1,080
Weighted Average Grant-Date Fair Value
Restricted Stock Units and Performance Stock Units, nonvested, beginning of period, weighted average grant date fair value (in USD per share) | $ / shares	$ 25.54
Restricted Stock Units and Performance Stock Units, grants in period, weighted average grant date fair value (in USD per share) | $ / shares	22.81
Restricted Stock Units and Performance Stock Units, vested in period, weighted average grant date fair value (in USD per share) | $ / shares	33.63
Restricted Stock Units and Performance Stock Units, canceled, expired or forfeited, weighted average grant date fair value (in USD per share) | $ / shares	23.39
Restricted Stock Units and Performance Stock Units, nonvested, end of period, weighted average grant date fair value (in USD per share) | $ / shares	$ 23.25

TAXES ON INCOME- Summary of Tax

TAXES ON INCOME- Summary of Taxes by Jurisdiction and Classification (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Current income tax expense (benefit)
Federal	$ 5.4	$ (16.3)	$ 9.2
State and local	1.4	(1.4)	1.3
Foreign	6.8	5.7	6.8
Total current	13.6	(12)	17.3
Deferred income tax expense (benefit):
Federal	1.8	(1.7)	(10)
State and local	(1.3)	0.6	(1.6)
Foreign	(3.4)	(2.1)	0
Total deferred	(2.9)	(3.2)	(11.6)
Income tax expense (benefit)	10.7	(15.2)	5.7
United States	(4.1)	(74.1)	5.9
Foreign	32.7	1.5	15.6
Income (loss) before taxes	$ 28.6	$ (72.6)	$ 21.5

TAXES ON INCOME - Income Tax Ra

TAXES ON INCOME - Income Tax Rate Reconciliation (Details)	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Income Tax Disclosure [Abstract]
Federal statutory income tax rate	21.00%	21.00%	21.00%
State and local taxes, net of federal tax benefit	0.30%	1.00%	(0.90%)
Mandatory repatriation tax on foreign earnings	0.00%	0.00%	1.90%
Return to provision	4.20%	2.80%	(4.70%)
Research and development credit	(4.20%)	3.70%	(10.20%)
Prior year research and development credit	(0.30%)	0.00%	0.00%
Prior year deferred tax adjustments	0.00%	0.40%	4.70%
Foreign rate difference	1.70%	(0.40%)	6.00%
Foreign research innovation box	(3.80%)	0.00%	0.00%
Change in valuation allowance	8.40%	(11.00%)	11.20%
U.S. tax reform - international provisions	(0.007)	0	(0.047)
U.S. net operating loss carryback	5.20%	5.60%	0.00%
Other	5.60%	(2.20%)	2.20%
Effective tax rate	37.40%	20.90%	26.50%

TAXES ON INCOME - Deferred Tax

TAXES ON INCOME - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019	Sep. 28, 2018
Deferred tax assets:
Inventory adjustments	$ 4.9	$ 4.4
Share-based compensation	5.5	4.2
Product warranty	1.8	1.7
Deferred compensation	1.6	1.3
Net operating loss carryforwards	25.7	27
Accrued vacation	1	1
Accrued incentives	4.2	1.7
Credit carryforwards	3.3	5.9
Deferred financing fees	3	3.3
Interest expense limitation	4.3	4.7
Lease liabilities	6.8	7.2
Other	6.4	4.3
Deferred tax assets, gross	68.5	66.7
Valuation allowance	(30.2)	(28.7)	$ (18.8)	$ (4)
Total deferred tax assets	38.3	38
Deferred tax liabilities:
Acquired intangibles	(13.9)	(16.6)
Property, plant and equipment	(13)	(12.4)
Investments in privately held companies	(1.8)	(2.8)
Operating lease assets	(6.5)	(6.7)
Other	(1.3)	(1.3)
Total deferred tax liabilities	(36.5)	(39.8)
Net deferred tax assets	$ 1.8
Net deferred tax assets (liabilities)		$ (1.8)

TAXES ON INCOME - Narrative (De

TAXES ON INCOME - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Income Tax Disclosure [Abstract]
Deferred tax liabilities of undistributed foreign earnings	$ 0.1
Net operating loss carryforwards	25.7	$ 27
Operating loss carryforwards, that expire	2.6
Operating loss carryforwards, that do not expire	23.1
Operating loss carryforwards, valuation allowance increase	1.5	9.9
Unrecognized tax benefits	1.1	0.8	$ 0.6
Income tax penalties and interest expense	$ 0.2	$ 0.1	$ 0.1

TAXES ON INCOME - Valuation All

TAXES ON INCOME - Valuation Allowance (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Deferred Tax Assets Valuation Allowance [Roll Forward]
Valuation allowance balance–beginning of fiscal year	$ 28.7	$ 18.8	$ 4
Increases resulting from business combinations	0	0	12
Other increases	5.4	10.2	2.8
Other decreases	(3.9)	(0.3)	0
Valuation allowance balance—end of fiscal year	$ 30.2	$ 28.7	$ 18.8

TAXES ON INCOME - Income Tax Co

TAXES ON INCOME - Income Tax Contingency (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits balance–beginning of fiscal year	$ 0.8	$ 0.6
Additions based on tax positions related to a prior year	0.4	0.2
Additions based on tax positions related to the current year	0.1	0
Reductions resulting from the expiration of the applicable statute of limitations	(0.2)	0
Unrecognized tax benefits balance—end of fiscal year	$ 1.1	$ 0.8

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details)	12 Months Ended
	Oct. 01, 2021segment
Segment Reporting [Abstract]
Number of operating segments	2

SEGMENT INFORMATION - Summary o

SEGMENT INFORMATION - Summary of Segment Information (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Segment Reporting Information [Line Items]
Revenues, net	$ 818.1	$ 738.3	$ 780.6
Gross profit	271.5	190.2	256.7
Total operating expenses	197.4	223.9	211
Interest and other expense, net	(45.5)	(38.9)	(24.2)
Income (loss) before taxes	28.6	(72.6)	21.5
Income tax expense (benefit)	10.7	(15.2)	5.7
Net income (loss)	17.9	(57.4)	15.8
Less: Net income attributable to noncontrolling interests	0.5	0.5	0.3
Net income (loss) attributable to Varex	17.4	(57.9)	15.5
Medical
Segment Reporting Information [Line Items]
Revenues, net	643.8	584.5	596.8
Gross profit	203.2	136.4	188.9
Industrial
Segment Reporting Information [Line Items]
Revenues, net	174.3	153.8	183.8
Gross profit	$ 68.3	$ 53.8	$ 67.8

SEGMENT INFORMATION - Geographi

SEGMENT INFORMATION - Geographic (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, net	$ 818.1	$ 738.3	$ 780.6
Property, plant and equipment, net	140.2	145.2
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, net	268.5	255	282.6
Property, plant and equipment, net	105.4	115.9
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, net	262.3	249.8	275.3
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, net	276.3	231.5	269
Property, plant and equipment, net	23.9	21.5
APAC
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, net	273.3	251.8	$ 229
Property, plant and equipment, net	$ 10.9	$ 7.8

EMPLOYEE BENEFIT PLANS - (Detai

EMPLOYEE BENEFIT PLANS - (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Retirement Benefits [Abstract]
Employer discretionary contribution amount	$ 2.8	$ 4.4	$ 6.7
Defined benefit pension plan liability	$ 5.9	$ 6.5

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME - (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Sep. 27, 2019
Changes In Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	$ 465.8	$ 448.2	$ 428.3
Other comprehensive (loss) income before reclassifications	(0.4)	(3.8)
Amount reclassified out of other comprehensive income		1.5
Amount reclassified out of other comprehensive income - transaction remote		2.4
Income tax impact	0.1	(0.1)
Foreign currency translation adjustments	(0.7)	1.5	0
Ending balance	496.5	465.8	448.2
Unrealized Gain (Loss) on Derivative Financial Instruments
Changes In Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	0	(0.4)
Other comprehensive (loss) income before reclassifications	0	(3.4)
Amount reclassified out of other comprehensive income		1.5
Amount reclassified out of other comprehensive income - transaction remote		2.4
Income tax impact	0	(0.1)
Foreign currency translation adjustments	0	0
Ending balance	0	0	(0.4)
Unrealized Gain (Loss) on Defined Benefit Obligations
Changes In Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(0.7)	(1.3)
Other comprehensive (loss) income before reclassifications	(0.1)	0.9
Amount reclassified out of other comprehensive income		0
Amount reclassified out of other comprehensive income - transaction remote		0
Income tax impact	0	(0.3)
Foreign currency translation adjustments	0	0
Ending balance	(0.8)	(0.7)	(1.3)
Currency Translation Adjustment
Changes In Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	1.5	0
Other comprehensive (loss) income before reclassifications	(0.3)	(1.3)
Amount reclassified out of other comprehensive income		0
Amount reclassified out of other comprehensive income - transaction remote		0
Income tax impact	0.1	0.3
Foreign currency translation adjustments	(0.5)	2.5
Ending balance	0.8	1.5	0
Accumulated Other Comprehensive (Loss) Income
Changes In Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	0.8	(1.7)
Ending balance	$ 0	$ 0.8	$ (1.7)