Varian Medical Systems (VAR) 10-Q 12 May 20 2020 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Apr. 03, 2020	May 01, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 3, 2020
Document Transition Report	false
Entity File Number	1-7598
Entity Registrant Name	VARIAN MEDICAL SYSTEMS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-2359345
Entity Address, Address Line One	3100 Hansen Way,
Entity Address, City or Town	Palo Alto,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94304-1038
City Area Code	650
Local Phone Number	493-4000
Title of 12(b) Security	Common Stock, $1 par value
Trading Symbol	VAR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		90,814,945
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000203527
Current Fiscal Year End Date	--10-02

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Apr. 03, 2020	Mar. 29, 2019	Apr. 03, 2020	Mar. 29, 2019
Revenues:
Revenues	$ 794.5	$ 779.4	$ 1,623.4	$ 1,520.4
Cost of revenues:
Total cost of revenues	457.3	461.2	919.4	886.1
Gross margin	337.2	318.2	704	634.3
Operating expenses:
Research and development	71	59.4	138.1	120.3
Selling, general and administrative	175.3	146.8	352.3	287.9
Impairment charges	40.5	0	40.5	0
Acquisition-related expenses (benefits)	(4.5)	2.2	8.2
Total operating expenses	282.3	208.4	539.1	412.8
Operating earnings	54.9	109.8	164.9	221.5
Interest income	3.1	4	6.1	7.9
Interest expense	(4.3)	(1)	(9)	(2.2)
Other income (expense), net	(0.9)
Other income (expense), net		0.2	3.5	23.2
Earnings before taxes	52.8	113	165.5	250.4
Taxes on earnings	9.7	24.6	33.5	58.1
Net earnings	43.1	88.4	132	192.3
Less: Net earnings (loss) attributable to noncontrolling interests	(0.1)	(0.2)	0.6	0.5
Net earnings attributable to Varian	$ 43.2	$ 88.6	$ 131.4	$ 191.8
Earnings Per Share [Abstract]
Net earnings per share - basic (in dollars per share)	$ 0.48	$ 0.97	$ 1.45	$ 2.11
Net earnings per share - diluted (in dollars per share)	$ 0.47	$ 0.96	$ 1.43	$ 2.09
Shares used in the calculation of net earnings per share:
Weighted average shares outstanding - basic (in shares)	90.7	91	90.8	91
Weighted average shares outstanding - diluted (in shares)	91.4	91.9	91.6	92
Other expense, net	$ 0.9
Product
Revenues:
Revenues	407.3	$ 430.5	$ 828.3	$ 830.7
Cost of revenues:
Total cost of revenues	263.1	294.4	535	561
Service
Revenues:
Revenues	387.2	348.9	795.1	689.7
Cost of revenues:
Total cost of revenues	$ 194.2	$ 166.8	$ 384.4	$ 325.1

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Apr. 03, 2020	Mar. 29, 2019	Apr. 03, 2020	Mar. 29, 2019
Statement of Comprehensive Income [Abstract]
Net earnings		$ 43.1	$ 88.4	$ 132	$ 192.3
Defined benefit pension and post-retirement benefit plans:
Amortization of prior service cost included in net periodic benefit cost, net of tax benefit of $0.1 and $0.1, for three and six months ended April 3, 2020, respectively, and $0.1 and $0.1, for the corresponding periods of fiscal year 2019, respectively	[1]	(0.1)	(0.1)	(0.3)	(0.3)
Amortization of net actuarial loss included in net periodic benefit cost, net of tax expense of $(0.1) and $(0.3), for three and six months ended April 3, 2020, respectively, and $(0.1) and $(0.2), for the corresponding periods of fiscal year 2019, respectively		0.9	0.4	1.8	0.9
Defined benefit pension and post-retirement benefit plans		0.8	0.3	1.5	0.6
Derivative instruments:
Change in unrealized loss, net of tax expense of $(0.6) and $(0.6), respectively	[1]	2.1	0	2	0
Reclassification adjustments, net of tax benefit of $0.2 and $0.4, respectively		(0.9)	0	(1.5)	0
Derivative instruments		1.2	0	0.5	0
Currency translation adjustment		(6.8)	(3.1)	(1.7)	(7.1)
Other comprehensive earnings (loss)		(4.8)	(2.8)	0.3	(6.5)
Comprehensive earnings		38.3	85.6	132.3	185.8
Less: Comprehensive earnings (loss) attributable to noncontrolling interests		(0.1)	(0.2)	0.6	0.5
Comprehensive earnings attributable to Varian		$ 38.4	$ 85.8	$ 131.7	$ 185.3
[1]	Tax expense or benefit related to the periods presented are not material.

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 03, 2020	Mar. 29, 2019	Apr. 03, 2020		Mar. 29, 2019
Statement of Comprehensive Income [Abstract]
Tax on amortization of prior service cost included in net periodic benefit cost	$ 0.1	$ 0.1	$ 0.1	[1]	$ 0.1
Tax on amortization of net actuarial loss included in net periodic benefit cost	(0.1)	$ (0.1)	(0.3)		$ (0.2)
Tax on increase (decrease) in unrealized gain on derivative instruments	(0.6)		(0.6)	[1]
Tax on reclassification adjustments on derivative instruments	$ 0.2		$ 0.4
[1]	Tax expense or benefit related to the periods presented are not material.

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Apr. 03, 2020	Sep. 27, 2019
Current assets:
Cash and cash equivalents	$ 667.8	$ 531.4
Trade and unbilled receivables, net of allowance for doubtful accounts of $48.9 and $46.5 at April 3, 2020 and September 27, 2019, respectively	1,004.8	1,106.3
Inventories	604	551.5
Prepaid expenses and other current assets	224.3	206.2
Total current assets	2,500.9	2,395.4
Property, plant and equipment, net	341.9	311.5
Operating lease right-of-use assets	123.8
Goodwill	614.7	612.2
Intangible assets	281.6	300.7
Deferred tax assets	93.6	84.7
Other assets	387.4	397.2
Total assets	4,343.9	4,101.7
Current liabilities:
Accounts payable	198.4	248.5
Accrued liabilities	433.2	459.5
Deferred revenues	798.1	766
Short-term borrowings	520	410
Total current liabilities	1,949.7	1,884
Long-term lease liabilities	100.4
Other long-term liabilities	423.1	440.1
Total liabilities	2,473.2	2,324.1
Commitments and contingencies (Note 8)
Equity:
Preferred stock of $1 par value: 1.0 shares authorized; none issued and outstanding	0	0
Common stock of $1 par value: 189.0 shares authorized; 90.7 and 90.8 shares issued and outstanding at April 3, 2020 and September 27, 2019, respectively	90.7	90.8
Capital in excess of par value	878.2	845.6
Retained earnings	993.7	934
Accumulated other comprehensive loss	(101.8)	(102.1)
Total Varian stockholders' equity	1,860.8	1,768.3
Noncontrolling interest	9.9	9.3
Total equity	1,870.7	1,777.6
Total liabilities and equity	$ 4,343.9	$ 4,101.7

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Apr. 03, 2020	Sep. 27, 2019
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 48.9	$ 46.5
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	189,000,000	189,000,000
Common stock, shares issued (in shares)	90,700,000	90,800,000
Common stock, shares outstanding (in shares)	90,700,000	90,800,000

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Cash flows from operating activities:
Net earnings	$ 132	$ 192.3
Adjustments to reconcile net earnings to net cash provided by operating activities:
Share-based compensation expense	26.2	23
Depreciation	29.9	25.8
Amortization of intangible assets and inventory step-up	19.7	11.4
Deferred taxes	(8.7)	7.4
Provision to allowance for doubtful accounts	3.7	4
Gain on sale of equity investments	(1.4)	(21.8)
Impairment charges	40.5	0
Other, net	(1.1)	0.3
Changes in assets and liabilities, net of effects of acquisitions:
Trade and unbilled receivables	49.9	(58.6)
Inventories	(53.7)	(41.9)
Prepaid expenses and other assets	(18.6)	(19.3)
Accounts payable	(54.7)	23.7
Accrued liabilities and other long-term liabilities	(62.6)	(74.2)
Deferred revenues	33.4	55.4
Net cash provided by operating activities	134.5	127.5
Cash flows from investing activities:
Purchases of property, plant and equipment	(37)	(25.2)
Acquisitions, net of cash acquired	(8.4)	(25)
Purchase of equity investments	0	(11.8)
Sale of equity investments	9.2	29.9
Other, net	0	(2.5)
Net cash used in investing activities	(36.2)	(34.6)
Cash flows from financing activities:
Repurchases of common stock	(86.2)	(85.6)
Proceeds from issuance of common stock to employees	32.1	38.6
Tax withholdings on vesting of equity awards	(11.5)	(13.9)
Borrowings under credit facility agreement	105	0
Repayments under credit facility agreement	(105)
Net borrowings under the credit facility agreements with maturities less than 90 days	110	0
Other	(0.9)	4
Net cash provided by (used in) financing activities	43.5	(56.9)
Effects of exchange rate changes on cash, cash equivalents, and restricted cash	3.1	6.5
Net increase in cash, cash equivalents, and restricted cash	144.9	42.5
Cash, cash equivalents, and restricted cash at beginning of period	544.1	516.4
Cash, cash equivalents, and restricted cash at end of period	$ 689	$ 558.9

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY Statement - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss	Total Varian Stockholders' Equity	Noncontrolling Interests
Beginning balance (in shares) at Sep. 28, 2018		91.2
Balance at beginning of period at Sep. 28, 2018	$ 1,588.7	$ 91.2	$ 778.1	$ 780.4	$ (65.3)	$ 1,584.4	$ 4.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	103.9			103.2		103.2	0.7
Other comprehensive earnings (loss)	(3.7)				(3.7)	(3.7)
Issuance of common stock (in shares)		0.3
Issuance of common stock	22	$ 0.3	21.7			22
Tax withholdings on vesting of equity awards	(4.4)		(4.4)			(4.4)
Share-based compensation expense	10.5		10.5			10.5
Repurchases of common stock (in shares)		(0.3)
Repurchases of common stock	(34.8)	$ (0.3)	(6.6)	(27.9)		(34.8)
Other	(0.2)		0	(0.2)		(0.2)
Ending balance (in shares) at Dec. 28, 2018		91.2
Balance at end of period at Dec. 28, 2018	1,682	$ 91.2	799.3	855.5	(69)	1,677	5
Beginning balance (in shares) at Sep. 28, 2018		91.2
Balance at beginning of period at Sep. 28, 2018	1,588.7	$ 91.2	778.1	780.4	(65.3)	1,584.4	4.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive earnings (loss)	$ (6.5)
Repurchases of common stock (in shares)	(0.7)
Ending balance (in shares) at Mar. 29, 2019		91.2
Balance at end of period at Mar. 29, 2019	$ 1,740.1	$ 91.2	813.6	902.3	(71.8)	1,735.3	4.8
Beginning balance (in shares) at Dec. 28, 2018		91.2
Balance at beginning of period at Dec. 28, 2018	1,682	$ 91.2	799.3	855.5	(69)	1,677	5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	88.4			88.6		88.6	(0.2)
Other comprehensive earnings (loss)	(2.8)				(2.8)	(2.8)
Issuance of common stock (in shares)		0.5
Issuance of common stock	20.3	$ 0.5	19.8			20.3
Tax withholdings on vesting of equity awards (shares)		(0.1)
Tax withholdings on vesting of equity awards	(9.5)	$ (0.1)	(9.4)			(9.5)
Share-based compensation expense	$ 12.5		12.5			12.5
Repurchases of common stock (in shares)	(0.4)	(0.4)
Repurchases of common stock	$ (50.8)	$ (0.4)	(8.6)	(41.8)		(50.8)
Ending balance (in shares) at Mar. 29, 2019		91.2
Balance at end of period at Mar. 29, 2019	$ 1,740.1	$ 91.2	813.6	902.3	(71.8)	1,735.3	4.8
Beginning balance (in shares) at Sep. 27, 2019	90.8	90.8
Balance at beginning of period at Sep. 27, 2019	$ 1,777.6	$ 90.8	845.6	934	(102.1)	1,768.3	9.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	88.9			88.2		88.2	0.7
Other comprehensive earnings (loss)	5.1				5.1	5.1
Issuance of common stock (in shares)		0.3
Issuance of common stock	$ 21	$ 0.3	20.7			21
Tax withholdings on vesting of equity awards (shares)	0
Tax withholdings on vesting of equity awards	$ (3.6)	$ 0	(3.6)			(3.6)
Share-based compensation expense	14.7		14.7			14.7
Repurchases of common stock (in shares)		(0.4)
Repurchases of common stock	(46.4)	$ (0.4)	(7)	(39)		(46.4)
Ending balance (in shares) at Jan. 03, 2020		90.7
Balance at end of period at Jan. 03, 2020	$ 1,857.3	$ 90.7	870.4	983.2	(97)	1,847.3	10
Beginning balance (in shares) at Sep. 27, 2019	90.8	90.8
Balance at beginning of period at Sep. 27, 2019	$ 1,777.6	$ 90.8	845.6	934	(102.1)	1,768.3	9.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive earnings (loss)	$ 0.3
Repurchases of common stock (in shares)	(0.6)
Ending balance (in shares) at Apr. 03, 2020	90.7	90.7
Balance at end of period at Apr. 03, 2020	$ 1,870.7	$ 90.7	878.2	993.7	(101.8)	1,860.8	9.9
Beginning balance (in shares) at Jan. 03, 2020		90.7
Balance at beginning of period at Jan. 03, 2020	1,857.3	$ 90.7	870.4	983.2	(97)	1,847.3	10
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	43.1			43.2		43.2	(0.1)
Other comprehensive earnings (loss)	(4.8)				(4.8)	(4.8)
Issuance of common stock (in shares)		0.3
Issuance of common stock	11.3	$ 0.3	11			11.3
Tax withholdings on vesting of equity awards (shares)		0
Tax withholdings on vesting of equity awards	(7.9)	$ 0	(7.9)			(7.9)
Share-based compensation expense	$ 11.5		11.5			11.5
Repurchases of common stock (in shares)	(0.3)	(0.3)
Repurchases of common stock	$ (39.8)	$ (0.3)	(6.8)	(32.7)		(39.8)
Ending balance (in shares) at Apr. 03, 2020	90.7	90.7
Balance at end of period at Apr. 03, 2020	$ 1,870.7	$ 90.7	$ 878.2	$ 993.7	$ (101.8)	$ 1,860.8	$ 9.9

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Apr. 03, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business The long-term growth and value creation strategy of Varian Medical Systems, Inc. (“VMS”) and subsidiaries (collectively, the “Company”) is to transform the Company from the global leader in radiation therapy to the global leader in multi-disciplinary, integrated cancer care solutions that leverages its clinical experience and strengths in technology development and new product innovation. The Company offers solutions in radiation therapy and medical oncology, as well as interventional oncology, an emerging area of cancer care. The Company designs, manufactures, sells and services hardware and software products for treating cancer with radiotherapy, stereotactic radiosurgery, stereotactic body radiotherapy and brachytherapy, and offers products for interventional oncology procedures and treatments, including cryoablation, microwave ablation and embolization. Software solutions include treatment planning, informatics, clinical knowledge exchange, patient care management, practice management and decision support for comprehensive cancer clinics, radiotherapy centers and medical oncology practices. The Company also develops, designs, manufactures, sells and services proton therapy products and systems for cancer treatment. The Company has expanded its services offerings to include clinical practice services that assist within the clinical workflow. These services focus on decision support and/or cancer care knowledge augmentation aimed at facilitating improved accessibility and affordability to care while maintaining a fundamental level of clinical quality. Further, the Company operates 12 multi-disciplinary cancer centers and one specialty hospital in India and one multi-disciplinary cancer center in Sri Lanka. Basis of Presentation The condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). Certain information and note disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated balance sheet as of September 27, 2019, was derived from audited financial statements as of that date, but does not include all disclosures required by accounting principles generally accepted in the United States of America. These condensed consolidated financial statements and the accompanying notes are unaudited and should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 27, 2019 (the “2019 Annual Report”). The Company is subject to risks and uncertainties as a result of the COVID-19 pandemic and the extent and duration of the future impact on the Company's business is highly uncertain and difficult to predict. The COVID-19 pandemic has adversely impacted, and is likely to further adversely impact, nearly all aspects of the Company’s business and markets, including its workforce and operations and the operations of its customers, suppliers, distributors and business partners. The full extent to which the pandemic will directly or indirectly impact the Company's business, results of operations and financial condition, including revenues, expenses, manufacturing, research and development costs, reserves and allowances, fair value measurements, asset impairment charges, contingent consideration obligations and the effectiveness of the Company's hedging instruments, will depend on future developments that are highly uncertain and difficult to predict. The Company has approximately $1.3 billion in accessible liquidity, including approximately $668 million in cash and cash equivalents and approximately $661 million available under its $1.2 billion revolving credit facility. To date, the Company has not experienced a significant decline in customer credit quality or a significant increase in requests for changes or extension of payment terms as a result of COVID-19, although management will continue to closely monitor these metrics going forward. Furthermore, the Company's ability to estimate and make certain judgments may be materially impacted by the uncertainty caused by the pandemic. As of the date of issuance of these condensed consolidated financial statements, the extent to which the COVID-19 pandemic may materially impact the Company's financial condition, liquidity, or results of operations is uncertain. In the opinion of management, the condensed consolidated financial statements herein include adjustments (consisting only of normal recurring adjustments) necessary for a fair statement of the Company’s financial position as of April 3, 2020, and September 27, 2019, results of operations and statements of comprehensive earnings for the three and six months ended April 3, 2020, and March 29, 2019, statements of cash flows for the six months ended April 3, 2020, and March 29, 2019, and statements of equity for the six months ended April 3, 2020, and March 29, 2019. The results of operations for the six months ended April 3, 2020, are not necessarily indicative of the operating results to be expected for the full fiscal year or any future period. Reclassifications Certain reclassifications have been made to the amounts in the prior year in order to conform to the current year's presentation. Fiscal Year The fiscal years of the Company as reported are the 52- or 53-week periods ending on the Friday nearest September 30. Fiscal year 2020 is the 53-week period ending October 2, 2020. Fiscal year 2019 was the 52-week period that ended on September 27, 2019. The fiscal quarters ended April 3, 2020 and March 29, 2019, were both 13-week periods. Principles of Consolidation The condensed consolidated financial statements include those of VMS and its wholly-owned and majority-owned or controlled subsidiaries. Intercompany balances, transactions and stock holdings have been eliminated in consolidation. Consolidation of 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 enterprise has the obligation to absorb losses or the right to receive benefits 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 condensed consolidated financial statements. At April 3, 2020 and September 27, 2019, the Company consolidated its non-controlling interest in a joint venture, included within its Oncology Systems business, related to the Cancer Treatment Services International ("CTSI") operations. 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Due to the COVID-19 pandemic, the Company is subject to a greater degree of uncertainty than normal in making the judgments and estimates needed to apply its significant accounting policies, such as impairment of goodwill and intangibles and the impairment of investments and loans receivables. As the COVID-19 pandemic and responsive actions continue to develop, management may make changes to these estimates and judgments, which could result in material impacts to the Company's financial statements in future periods. Significant Accounting Policies With the exception of the change for the accounting of leases as a result of the adoption of Accounting Standard Codification Topic 842, there have been no material changes to the Company's significant accounting policies provided in Note 1, "Summary of Significant Accounting Policies," within Item 8 of the Company's Annual Report on Form 10-K for the year ended September 27, 2019. Leases The Company determines if an arrangement is or contains a lease at the inception of an arrangement. The Company's operating lease right-of-use ("ROU") assets represents the right to use an underlying asset over the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. ROU assets may also include initial direct costs incurred and prepaid lease payments, less lease incentives. Lease liabilities and their corresponding ROU assets are recognized based on the present value of lease payments over the lease term, discounted using the Company's incremental borrowing rate ("IBR"). The Company recognizes operating leases with lease terms of more than 12 months in operating lease right-of-use assets, accrued liabilities, and long-term lease liabilities on its Condensed Consolidated Balance Sheets. The Company’s finance leases primarily represent certain sale and leaseback-sublease arrangements. The Company has entered into sale-leaseback arrangements with a third-party finance company for certain equipment and simultaneously subleased the equipment to certain qualified customers. The Company’s leaseback arrangements have been accounted for as finance leases as they meet one or more of the finance lease classification criteria. The Company recognizes finance leases with lease terms of more than 12 months in property, plant, and equipment, net, accrued liabilities, and other long-term liabilities on its Condensed Consolidated Balance Sheets. For purposes of calculating lease liabilities and the corresponding ROU assets, the Company's lease term may include options to extend or terminate the lease when it is reasonably certain that it will exercise that option. The Company generally does not have adequate information to determine the implicit rate in a lease, therefore the Company uses an estimated IBR. The Company does not maintain a public credit rating and its debt arrangements are unsecured, thus requiring significant judgment to calculate the IBR. The Company uses different data sets to estimate the IBR, including: (i) an estimated indicative credit rating of the Company; (ii) yields on comparable credit rating composite curves; (iii) foreign exchange rates; and (iv) an estimated adjustment for collateral. The Company also applies adjustments to account for considerations related to (i) tenor; and (ii) country credit rating that may not be fully incorporated by the aforementioned data sets. Certain of the Company’s lease arrangements include variable lease payments. Variable lease payments, not dependent on an index or discount rate, are expensed as incurred and are not included within the ROU asset and lease liability calculation. Variable lease payments generally include common area maintenance, utilities, maintenance charges, property taxes, insurance, and contingent rent payments. Certain of the Company's arrangements contain clauses that provide for contingent rent payments based on a percentage of revenue share and/or earnings before interest, taxes, depreciation and amortization. The Company combines lease and non-lease components as a single lease component for both its operating and finance leases. In addition, the Company does not record operating and finance lease assets and liabilities for short-term leases, which have an initial term of 12 months or less. Recently Adopted Accounting Pronouncements In the first quarter of fiscal year 2020, the Company adopted the Financial Accounting Standards Board ("FASB") standard on accounting for leases, "Leases." The new standard is intended to provide enhanced transparency and comparability by requiring lessees to record ROU assets and corresponding lease liabilities on the balance sheet. The Company adopted this standard under the optional transition method, which applies the standard on the effective date, rather than the earliest comparative period presented in the financial statements. The Company elected: (1) the "package of practical expedients," which does not require the Company to reassess its prior conclusions about lease identification, lease classification, and initial direct costs under the new standard; (2) not to separate non-lease components from lease components; and (3) not to recognize ROU assets and lease liabilities for short-term leases. The Company has implemented internal controls and key system functionalities to enable the preparation of financial information. The primary impact for the Company was the balance sheet recognition of ROU assets and lease liabilities for operating leases as a lessee. See Note 8, "Commitments and Contingencies," for more information on the impact of this adoption on the Company's condensed consolidated financial statements. In the first quarter of fiscal year 2020, the Company adopted FASB guidance that added the Overnight Index Swap rate based on the Secured Overnight Financing Rate ("SOFR") as a benchmark interest rate for hedge accounting purposes. The amendment recognizes SOFR as a likely LIBOR replacement and supports the marketplace transition by adding the new reference rate as a benchmark interest rate. The Company has not executed interest rate hedges but adopted the amendment prospectively as the Company may consider interest rate hedges in the future. The Company is monitoring the LIBOR to SOFR migration and will coordinate the transition of outstanding LIBOR based debt and any related interest rate derivatives with counterparties when the market is liquid to ensure an orderly and efficient transition. In the first quarter of fiscal year 2020, the Company adopted FASB guidance that allows companies to reclassify disproportionate tax effects in accumulated other comprehensive income caused by the Tax Cuts and Jobs Act to retained earnings. The impact of adopting this amendment on the Company's condensed consolidated financial statements was not material. Recent Accounting Standards or Updates Not Yet Effective In December 2019, the FASB issued guidance which simplifies the accounting for income taxes by removing certain exceptions to the current guidance and improving the consistent application of and simplification of other areas of the guidance. The standard is effective for the Company beginning in the first quarter of fiscal year 2022. Early adoption is permitted. The Company is evaluating the impact of adopting this guidance to its condensed consolidated financial statements. In August 2018, the FASB amended its guidance for costs of implementing a cloud computing service arrangement and aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This new standard also requires customers to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement. This new standard becomes effective for the Company in the first quarter of fiscal year 2021, with early adoption permitted. This new standard can be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company is evaluating the impact of adopting this amendment to its condensed consolidated financial statements. In August 2018, the FASB issued guidance which modifies the disclosure requirements for employers that have sponsor defined benefit pension or other post-retirement plans by removing and adding certain disclosures for these plans. The standard is effective for the Company beginning in the first quarter of fiscal year 2022. Early adoption is permitted. The Company is evaluating the impact of adopting this guidance to its condensed consolidated financial statements. In August 2018, the FASB issued guidance which changed the disclosure requirements for fair value measurements by removing, adding and modifying certain disclosures. The standard is effective for the Company beginning in the first quarter of fiscal year 2021. Early adoption is permitted. The Company is evaluating the impact of adopting this guidance to its condensed consolidated financial statements. In June 2016, the FASB issued an amendment to its accounting guidance related to the impairment of financial instruments. The amendment adds a new impairment model that is based on expected losses, rather than incurred losses. The amendment will be effective for the Company beginning in its first quarter of fiscal year 2021, with early adoption permitted beginning in the first quarter of fiscal year 2020. The Company is evaluating the impact of adopting this amendment to its condensed consolidated financial statements.

OTHER FINANCIAL INFORMATION

OTHER FINANCIAL INFORMATION	6 Months Ended
	Apr. 03, 2020
Other Financial Information [Abstract]
OTHER FINANCIAL INFORMATION	OTHER FINANCIAL INFORMATION Contracts with Customers The following table provides the Company's unbilled receivables and deferred revenues from contracts with customers: (In millions) April 3, September 27, Unbilled receivables - current $ 276.7 $ 346.7 Unbilled receivables - long-term (1) 71.6 35.1 Deferred revenues - current (798.1) (766.0) Deferred revenues - long-term (2) (74.1) (73.1) Total net unbilled receivables (deferred revenues) $ (523.9) $ (457.3) (1) Included in other assets on the Company's Condensed Consolidated Balance Sheets. (2) Included in other long-term liabilities on the Company's Condensed Consolidated Balance Sheets. During the six months ended April 3, 2020, unbilled receivables decreased by $33.5 million, primarily due to the timing of billings in Oncology Systems, and deferred revenues increased by $33.1 million, primarily due to the contractual timing of billings occurring before the revenues were recognized. During the three months and six months ended April 3, 2020, the Company recognized revenues of $162.4 million, and $476.9 million, respectively, which were included in the deferred revenues balances at September 27, 2019. During the three and six months ended March 29, 2019, the Company recognized revenues of $167.8 million and $431.2 million, respectively which were included in the deferred revenues balances at September 28, 2018. Unfulfilled Performance Obligations The following table represents the Company's unfulfilled performance obligations as of April 3, 2020, and the estimated revenues expected to be recognized in the future related to these unfulfilled performance obligations: Fiscal Years of Revenue Recognition (In millions) Remainder of 2020 2021 2022 Thereafter Unfulfilled Performance Obligations $ 1,174.3 $ 2,345.7 $ 1,006.5 $ 2,415.9 The table above includes both product and service unfulfilled performance obligations, which includes a component of service performance obligations that has not been invoiced. The fiscal years presented reflect management’s best estimate of when the Company will transfer control to the customer and may change based on timing of shipment, readiness of customers’ facilities for installation, installation requirements and availability of products or customer acceptance terms. Cash, Cash Equivalents, and Restricted Cash The following table summarizes the Company's cash, cash equivalents and restricted cash: (In millions) April 3, September 27, Cash and cash equivalents $ 667.8 $ 531.4 Restricted cash - current (1) 4.8 4.2 Restricted cash - long-term (2) 16.4 8.5 Total cash, cash equivalents, and restricted cash $ 689.0 $ 544.1 (1) Included in prepaid expenses and other current assets on the Company's Condensed Consolidated Balance Sheets. (2) Included in other assets on the Company's Condensed Consolidated Balance Sheets. Inventories The following table summarizes the Company's inventories: (In millions) April 3, September 27, Raw materials and parts $ 412.6 $ 376.5 Work-in-process 80.8 71.8 Finished goods 110.6 103.2 Total inventories $ 604.0 $ 551.5 Other Long-Term Liabilities The following table summarizes the Company's other long-term liabilities: (In millions) April 3, September 27, Income taxes payable $ 168.7 $ 180.3 Deferred income taxes 75.4 75.3 Deferred revenues 74.1 73.1 Contingent consideration 34.0 42.3 Defined benefit pension plan 28.7 31.1 Other 42.2 38.0 Total other long-term liabilities $ 423.1 $ 440.1 Other Income (Expense), Net The following table summarizes the Company's other income (expense), net: Three Months Ended Six Months Ended (In millions) April 3, March 29, April 3, March 29, Gain (loss) on equity investments $ — $ (0.2) $ 1.4 $ 21.8 Net foreign currency exchange gain (loss) (1.4) (0.5) 1.0 0.8 Other, net 0.5 0.9 1.1 0.6 Total other income (expense), net $ (0.9) $ 0.2 $ 3.5 $ 23.2

FAIR VALUE

FAIR VALUE	6 Months Ended
	Apr. 03, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE	FAIR VALUE Assets/Liabilities Measured at Fair Value on a Recurring Basis In the tables below, the Company has segregated all assets and liabilities that are measured at fair value on a recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date. Fair Value Measurements at April 3, 2020 Quoted Prices in Significant Significant Total Type of Instruments (Level 1) (Level 2) (Level 3) Balance (In millions) Assets: Cash equivalents: Money market funds $ 100.0 $ — $ — $ 100.0 Available-for-sale securities: MPTC Series B-1 Bonds — 28.1 — 28.1 MPTC Series B-2 Bonds — 26.2 — 26.2 APTC securities — 6.1 — 6.1 Derivative assets — 3.4 — 3.4 Total assets measured at fair value $ 100.0 $ 63.8 $ — $ 163.8 Liabilities: Contingent consideration $ — $ — $ (75.0) $ (75.0) Total liabilities measured at fair value $ — $ — $ (75.0) $ (75.0) Fair Value Measurements at September 27, 2019 Quoted Prices in Active Markets for Identical Instruments Significant Significant Unobservable Inputs Total Type of Instruments (Level 1) (Level 2) (Level 3) Balance (In millions) Assets: Cash equivalents: Money market funds $ 0.2 $ — $ — $ 0.2 Available-for-sale securities: MPTC Series B-1 Bonds — 27.1 — 27.1 MPTC Series B-2 Bonds — 25.1 — 25.1 APTC securities — 6.6 — 6.6 Derivative assets — 2.8 — 2.8 Total assets measured at fair value $ 0.2 $ 61.6 $ — $ 61.8 Liabilities: Contingent consideration $ — $ — $ (75.3) $ (75.3) Total liabilities measured at fair value $ — $ — $ (75.3) $ (75.3) The Company classifies its money market funds as Level 1 because they have daily liquidity, quoted prices for the underlying investments can be obtained, and there are active markets for the underlying investments. The Company's Level 2 available-for-sale securities consist of bonds for the Maryland Proton Therapy Center ("MPTC") and the Alabama Proton Therapy Center (“APTC”). The observable inputs for these securities are comparable bond issues, broker/dealer quotations for the same or similar investments in active markets, and other observable inputs such as yields, credit risks, default rates, and volatility. The Company's available-for-sale securities are included in other assets on the Company's Condensed Consolidated Balance Sheets, except for amounts related to short-term interest receivable. See Note 14, "Proton Solutions Loans and Investments," for further information about the available-for-sale securities. As of April 3, 2020, and September 27, 2019, the carrying amount of the Company's Level 1 money market funds and Level 2 available-for-sale securities approximated their respective fair values. 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. The Company’s derivative instruments are generally short-term in nature, typically one month to fifteen months in duration. The Company generally measures the fair value of its Level 3 contingent consideration liabilities based on Monte Carlo pricing models with key assumptions that include estimated revenues of the acquired business, the probability of completing certain milestone targets during the earn-out period, revenue volatility and estimated discount rates corresponding to the periods of expected payments. If the estimated revenues or probability of completing certain milestones were to increase or decrease during the respective earn-out period, the fair value of the contingent consideration would increase or decrease, respectively. If the estimated discount rates were to increase or decrease, the fair value of contingent consideration would decrease or increase, respectively. Changes in key assumptions may result in an increase or decrease in the fair value of contingent consideration. The Company's contingent consideration is from its business combinations and is included in accrued liabilities and other long-term liabilities on the Condensed Consolidated Balance Sheets. The following table presents the reconciliation for liabilities measured and recorded at fair value on a recurring basis using significant unobservable inputs (Level 3): (In millions) Contingent Balance at September 27, 2019 $ (75.3) Adjustments due to the effect of foreign exchange 0.2 Change in fair value recognized in earnings 0.1 Balance at April 3, 2020 $ (75.0) There were no transfers of assets or liabilities between fair value measurement levels during either the three and six months ended April 3, 2020, or the three and six months ended March 29, 2019. Transfers between fair value measurement levels are recognized at the end of the reporting period. Fair Value of Other Financial Instruments The fair values of certain of the Company’s financial instruments, including bank deposits included in cash equivalents, trade and unbilled receivables, net of allowance for doubtful accounts, accounts payable, and short-term borrowings approximate their carrying amounts due to their short maturities. As of April 3, 2020, the fair value of the CPTC Loans (as defined in Note 14, "Proton Solutions Loans and Investments,") approximated its carrying value of $10.0 million. The Company recorded a $40.5 million impairment charge on the CPTC Loans in the three months ended April 3, 2020. The carrying value is based on the present value of expected future cash payments discounted at a rate reflecting the nature and duration of the loans, risks involved with CPTC, and its industry. As a result, the CPTC Loans are categorized as Level 3 in the fair value hierarchy. See Note 14, "Proton Solutions Loans and Investments," for further information. The Company's equity investments in privately-held companies were $56.4 million and $64.2 million at April 3, 2020 and September 27, 2019, respectively. The Company measures these investments at cost, and these investments are adjusted through net earnings when they are deemed to be impaired or when there is an adjustment from observable price changes.

RECEIVABLES

RECEIVABLES	6 Months Ended
	Apr. 03, 2020
Receivables [Abstract]
RECEIVABLES	RECEIVABLES The following table summarizes the Company's trade and unbilled receivables, net, and long-term notes receivable: (In millions) April 3, September 27, Trade and unbilled receivables, gross $ 1,131.2 $ 1,193.5 Allowance for doubtful accounts (48.9) (46.5) Trade and unbilled receivables, net $ 1,082.3 $ 1,147.0 Short-term $ 1,004.8 $ 1,106.3 Long-term (1) $ 77.5 $ 40.7 Long-term notes receivable (1) (2) $ 34.9 $ 33.6 (1) Included in other assets on the Company's Condensed Consolidated Balance Sheets. (2) Balances include accrued interest and are recorded in other assets on the Company's Condensed Consolidated Balance Sheets.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Apr. 03, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS The following table summarizes the activity of goodwill by reportable operating segment: (In millions) Oncology Systems Other Total (1) Balance at September 27, 2019 $ 447.9 $ 164.3 $ 612.2 Business combination 2.6 — 2.6 Measurement period adjustments to business combinations in prior year (0.1) — (0.1) Balance at April 3, 2020 $ 450.4 $ 164.3 $ 614.7 (1) The total carrying value of goodwill at both April 3, 2020, and September 27, 2019 is net of $50.5 million of accumulated impairment charges related to the Company recording an impairment charge for the full value of the Proton Solutions operating segment goodwill in fiscal year 2019. Due to certain indicators identified related to the Company's Interventional Solutions reporting unit in the second quarter of fiscal year 2020, including a significant decrease in near term revenue projections due to COVID-19, the Company identified a triggering event and performed an interim impairment test on its $164.3 million of goodwill in its Interventional Solutions reporting unit, within the Other reportable operating segment. The fair value of the Interventional Solutions’ reporting unit was in excess of its carrying value by approximately $20 million, or 7%. Management believes the methodology and assumptions used to calculate the fair value to be reasonable. However, the Interventional Solutions reporting unit could be at risk for a future goodwill impairment if there are adjustments to certain assumptions used in the fair value calculation, including revenue growth rates, operating margins, and weighted-average cost of capital and/or working capital requirements. Given the uncertain impact of COVID-19 and/or other market factors on the Company's business, its cash flow projections for this business could decrease in the future, which could lead to an impairment of goodwill. Determining the fair value of a reporting unit involves the use of significant estimates and assumptions. These estimates and assumptions include revenue growth rates, operating margins, working capital requirements, weighted-average cost of capital, future economic and market conditions, estimation of the long-term rate of growth for the Company's business and determination of appropriate market comparables. Management bases the fair value estimates on assumptions it believes to be reasonable but that are inherently uncertain. Actual future results related to assumed variables could differ from these estimates. In addition, management makes certain judgments and assumptions in allocating assets and liabilities to determine the carrying values for each reporting unit. The following table summarizes the gross carrying amount and accumulated amortization of the Company's intangible assets: April 3, 2020 September 27, 2019 (In millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Technologies and patents $ 226.9 $ (98.4) $ 128.5 $ 226.4 $ (85.9) $ 140.5 Customer contracts, supplier relationships, and partner relationships 121.1 (30.4) 90.7 121.1 (25.7) 95.4 Trade names 55.1 (5.0) 50.1 55.1 (3.0) 52.1 Other 6.1 (6.1) — 6.1 (6.1) — Total intangible with finite lives 409.2 (139.9) 269.3 408.7 (120.7) 288.0 In-process research and development with indefinite lives 12.3 — 12.3 12.7 — 12.7 Total intangible assets $ 421.5 $ (139.9) $ 281.6 $ 421.4 $ (120.7) $ 300.7 Amortization expense for intangible assets was $9.5 million and $6.7 million during the three months ended April 3, 2020 and March 29, 2019, respectively, and $19.6 million and $11.4 million during the six months ended April 3, 2020 and March 29, 2019, respectively. As of April 3, 2020, the Company estimates its remaining amortization expense for intangible assets with finite lives will be as follows (in millions): Fiscal Years: Remaining Amortization Expense Remainder of 2020 $ 18.5 2021 35.6 2022 33.8 2023 32.8 2024 25.7 Thereafter 122.9 Total remaining amortization for intangible assets $ 269.3

BORROWINGS

BORROWINGS	6 Months Ended
	Apr. 03, 2020
Debt Disclosure [Abstract]
BORROWINGS	BORROWINGS The following table summarizes the Company's total short-term borrowings: April 3, 2020 September 27, 2019 (In millions, except for percentages) Amount Weighted-Average Interest Rate Amount Weighted-Average Interest Rate Short-term borrowings: Revolving Credit Facility $ 520.0 2.05 % $ 410.0 3.05 % Total short-term borrowings $ 520.0 $ 410.0 On November 1, 2019, the Company entered into Amendment No.2 (the "Amendment") to its Credit Agreement dated April 3, 2018, (the "Credit Agreement"), by and among the Company, certain lenders party thereto, and Bank of America, N.A. (“BofA”), as administrative agent, swing line lender and letter of credit issuer. The Amendment extended the maturity date from April 2023 to November 2024. The Amendment reduced the aggregate principal amount available under Credit Agreement's five Borrowings under the Revolving Credit Facility accrue interest based on either (i) the Eurodollar Rate plus a margin of 1.000% to 1.375% based on a net leverage ratio involving funded indebtedness and EBITDA, or (ii) a base rate of (a) the federal funds rate plus 0.50%, (b) BofA’s announced prime rate, or (c) the Eurodollar Rate plus 1.00%, whichever is highest, plus a margin of 0.000% to 0.375% based on the same leverage ratio, depending upon instructions from the Company. Borrowings under the Eurodollar Rate have a contract repayment date of 12 months, or less. Borrowings under the base rate can be made on an overnight basis and have a final maturity of five years. The Company must pay a commitment fee on the unused portion of the Revolving Credit Facility at a rate from 0.100% to 0.225% based on a net leverage ratio. The Company may prepay, reduce or terminate the commitments without penalty. Swing line loans under the Revolving Credit Facility will bear interest at the base rate plus the then applicable margin for base rate loans. The Credit Agreement provides that certain material domestic subsidiaries must guarantee the Revolving Credit Facility, subject to certain limitations on the amount secured. As of April 3, 2020, no subsidiary guarantees were required to be executed under the Credit Agreement. The Credit Agreement contains provisions that limit the Company's ability to, among other things, incur future indebtedness, contingent obligations or liens, guarantee indebtedness, make certain investments and capital expenditures, sell stock or assets and pay dividends, and consummate certain mergers or acquisitions. The Credit Agreement contains affirmative and negative covenants applicable to the Company and its subsidiaries that are typical for credit facilities of this type, and that are subject to materiality and other qualifications, carve-outs, baskets and exceptions. The Company agreed to maintain a financial covenant which requires a maximum consolidated net leverage ratio. The Company was in compliance with all financial covenants under the Credit Agreement for all periods within these condensed consolidated financial statements. Other Borrowings VMS’s Japanese subsidiary (“VMS KK”) has an unsecured uncommitted credit agreement with Sumitomo that enables VMS KK to borrow and have outstanding at any given time a maximum of 3.0 billion Japanese Yen (the “Sumitomo Credit Facility”). In February 2020, the Sumitomo Credit Facility was extended and will expire in February 2021. Borrowings under the Sumitomo Credit Facility accrue interest based on the basic loan rate announced by the Bank of Japan plus a margin of 0.5%. As of April 3, 2020, the Company did not have an outstanding principal balance on its Sumitomo Credit Facility.

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	6 Months Ended
	Apr. 03, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES The Company measures all derivatives at fair value on the Condensed Consolidated Balance Sheets. The accounting for gains or losses resulting from changes in the fair value of those derivatives depends upon the use of the derivative and whether it qualifies for hedge accounting. The fair value of derivative instruments reported on the Company's Condensed Consolidated Balance Sheets were as follows: April 3, September 27, 2019 (In millions) Balance Sheet Fair Value Derivatives designated as hedging instruments: Foreign exchange forward contracts Prepaid expenses and other current assets $ 3.4 $ 2.8 Total derivatives $ 3.4 $ 2.8 As of April 3, 2020, and September 27, 2019, the Company did not have any derivatives not designated as hedging instruments. Cash Flow Hedging Activities The Company had the following outstanding foreign currency forward contracts that were entered into to hedge forecasted revenues and designated as cash flow hedges: April 3, 2020 September 27, 2019 (In millions) Notional Value Sold Euro $ 45.7 $ 76.5 Japanese Yen 30.4 56.7 $ 76.1 $ 133.2 The following table presents the amounts, before tax, recognized in accumulated other comprehensive loss on the Condensed Consolidated Balance Sheets: Gain Recognized in Other Comprehensive Earnings (Loss) Three Months Ended Six Months Ended (In millions) April 3, 2020 March 29, 2019 April 3, 2020 March 29, 2019 Foreign currency forward contracts $ 2.7 $ — $ 2.6 $ — As of April 3, 2020, the net unrealized gain on derivatives, before tax, of $3.4 million was included in accumulated other comprehensive loss on the Condensed Consolidated Balance Sheets and is expected to be reclassified into net earnings over the next 12 months. The effect of cash flow hedge accounting on the Condensed Consolidated Statements of Earnings was as follows: Location and Amount Recognized in Earnings on Cash Flow Hedging Relationships Three Months Ended Six Months Ended April 3, 2020 April 3, 2020 (In millions) Revenues Revenues Total amounts of income and expense line items presented in the Condensed Consolidated Statements of Earnings in which the effects of fair value and cash flow hedges are recorded $ 794.5 $ 1,623.4 Gain on cash flow hedge relationships: Foreign currency forward contracts: Amount of gain reclassified from accumulated other comprehensive loss into net earnings $ 1.1 $ 1.9 The Company did not have any gains or losses reclassified from accumulated other comprehensive loss into net earnings in the three and six months ended March 29, 2019. Balance Sheet Hedging Activities The Company also hedges balance sheet exposures from its various subsidiaries and business units where the U.S. Dollar is the functional currency. For derivative instruments not designated as hedging instruments, changes in their fair values are recognized in other income, net in the Condensed Consolidated Statements of Earnings. Changes in the values of these hedging instruments are offset by changes in the values of foreign-currency-denominated assets and liabilities. The notional amount of the Company's outstanding foreign currency forward contracts relating to balance sheet hedging activities: (In millions) April 3, September 27, Notional value sold $ 382.8 $ 385.0 Notional value purchased $ 105.9 $ 52.3 The following table presents the gains recognized in the Condensed Consolidated Statements of Earnings related to the foreign currency forward contracts that are not designated as hedging instruments. Location of Gain Recognized in Net Earnings on Derivative Instruments Amount of Gain Recognized in Net Earnings on Derivative Instruments Three Months Ended Six Months Ended (In millions) April 3, March 29, April 3, March 29, Other income (expense), net $ 23.2 $ 3.6 $ 18.2 $ 6.4 The gains (losses) on these derivative instruments were significantly offset by the gains (losses) resulting from the re-measurement of monetary assets and liabilities denominated in currencies other than the U.S. Dollar functional currency.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Apr. 03, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Product Warranty The following table reflects the changes in the Company’s accrued product warranty: Six Months Ended (In millions) April 3, March 29, Accrued product warranty, at beginning of period $ 43.1 $ 44.8 Charged to cost of revenues 33.4 27.7 Actual product warranty expenditures (33.3) (25.7) Accrued product warranty, at end of period $ 43.2 $ 46.8 Accrued product warranty was included in accrued liabilities and other long-term liabilities on the Condensed Consolidated Balance Sheets. Leases The Company leases its facilities and certain equipment under operating leases. The Company's operating leases have remaining lease terms ranging from less than one year to 21 years. Facilities primarily include general and administrative o ffice space, and space for manufacturing, research and development, and other services. Equipment primarily includes vehicles and various office equipment. The Company's finance leases primarily relate to its sale and leaseback-subleases arrangements for certain equipment and have a remaining lease terms ranging from one Lease cost for operating leases is recognized on a straight-line basis over the lease term. Lease cost for finance leases is recognized as amortization of the finance lease ROU asset and interest expense on the finance lease liability over the lease term. The Company also has variable lease cost that primarily relate to its operating leases and include common area maintenance, utilities, maintenance charges, property taxes, insurance, and contingent rent. The following table summarizes the components of the Company's lease cost: Three Months Ended Six Months Ended (In millions) April 3, 2020 April 3, 2020 Operating lease cost $ 7.6 $ 15.4 Finance lease cost: Amortization of right-of-use assets 0.2 0.3 Interest on lease liabilities 0.2 0.3 Variable lease cost 4.2 8.7 Total lease cost $ 12.2 $ 24.7 The following table summarizes the supplemental cash flow information related to the Company's operating leases: Six Months Ended (In millions) April 3, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for leases $ 16.6 The following table summarizes supplemental balance sheet information related to the Company's operating and finance leases: (In millions) April 3, 2020 Operating leases: Operating right-of-use assets $ 123.8 Accrued liabilities $ 24.4 Long-term lease liabilities 100.4 Total lease liabilities $ 124.8 Finance leases: Property, plant, and equipment, net $ 12.8 Accrued liabilities $ 3.5 Other long-term liabilities 9.2 Total lease liabilities $ 12.7 The following table summarizes the weighted lease term and discount rate by operating and finance leases: April 3, 2020 Weighted average remaining lease term in years Operating leases 7.5 Finance leases 4.6 Weighted average discount rate Operating leases 5.0 % Finance leases 4.0 % As of April 3, 2020, the future minimum lease payments are as follows: (In millions) Operating Leases Finance leases Remainder of 2020 $ 15.0 $ 1.8 2021 28.0 3.3 2022 22.4 2.8 2023 17.6 2.8 2024 13.3 1.1 Thereafter 63.6 2.0 Total minimum lease payments $ 159.9 $ 13.8 Less: imputed interest 35.1 1.1 Total lease liability $ 124.8 $ 12.7 At September 27, 2019, the Company was committed to minimum rentals under non-cancellable operating leases (including rent escalation clauses) for fiscal years 2020 through 2024 and thereafter, as determined under the prior accounting guidance of Accounting Standard Codification 840, as follows: $32.5 million, $26.3 million, $20.2 million, $14.5 million, $10.9 million and $49.9 million, respectively. Lessor Arrangements The Company leases some of its equipment to certain customers on operating leases generally over a period of 15 years. As of April 3, 2020, the Company had $23.5 million and $7.5 million included in property, plant and equipment and accumulated depreciation, respectively, related to equipment leased to customers. As of September 27, 2019, the Company had $22.5 million and $5.5 million included in property, plant and equipment and accumulated depreciation, respectively, related to equipment leased to customers. The Company recorded income of $2.1 million and $4.6 million during the three months and six months ended April 3, 2020, respectively, on these equipment leases. The Company recorded income of $2.1 million and $4.2 million during the three and six months ended March 29, 2019, respectively, on these equipment leases. Contingencies Environmental Remediation Liabilities The Company’s operations and facilities, past and present, are subject to environmental laws, including laws that regulate the handling, storage, transport and disposal of hazardous substances. Certain of those laws impose cleanup liabilities on the Company in connection with its past and present operations. Those include facilities sold as part of the Company’s electron devices business in 1995 and thin film systems business in 1997. As a result, the Company oversees various environmental cleanup projects and receives reimbursements from third parties for a portion of the costs of its cleanup activities. As of April 3, 2020, and September 27, 2019, the Company had accrued $4.5 million and $4.8 million, respectively, net of third parties' indemnification obligations, for environmental remediation liabilities. The Company believes its reserve is adequate; however, as the scope of the Company’s obligations becomes more clearly defined, the Company may modify the reserve, and charge or credit future earnings accordingly. Based on information currently known to management, management believes the costs of these environmental-related matters are not reasonably likely to have a material adverse effect on the consolidated financial statements of the Company in any one fiscal year. The Company also reimburses certain third parties for cleanup activities. The amount the Company spent on environmental cleanup costs, third-party claim costs, project management costs and legal costs in the six months April 3, 2020, and March 29, 2019, was not material. Other Matters On October 16, 2018, Best Medical International, Inc. sued the Company in U.S. District Court in the District of Delaware, alleging infringement of four patents related to treatment planning. The Company intends to defend the suit vigorously. This lawsuit is in the initial stages, and at this time, the Company is unable to predict the ultimate outcome of this matter or estimate a range of possible exposure. Therefore, no amounts have been accrued as of April 3, 2020. From time to time, the Company is a party to or otherwise involved in legal proceedings, claims and government inspections or investigations and other legal matters, both inside and outside the United States, arising in the ordinary course of its business or otherwise. The Company accrues amounts, 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. In addition to the above, the Company is involved in other legal matters. However, such matters are subject to many uncertainties, and outcomes are not predictable with assurance. The Company is unable to estimate a loss or a range of reasonably possible losses with respect to such matters. There can be no assurances as to whether the Company will become subject to significant additional claims and liabilities with respect to ongoing or future proceedings. If actual liabilities significantly exceed the estimates made, the Company’s consolidated financial position, results of operations or cash flows could be materially adversely affected. Legal expenses relating to legal matters are expensed as incurred.

RETIREMENT PLANS

RETIREMENT PLANS	6 Months Ended
	Apr. 03, 2020
Retirement Benefits [Abstract]
RETIREMENT PLANS	RETIREMENT PLANSThe Company sponsors multiple defined benefit pension plans for regular full-time employees in Germany, Japan, Switzerland and the United Kingdom. The Company also sponsors a post-retirement benefit plan that provides healthcare benefits to certain eligible retirees in the United States. The components of net periodic benefit costs were as follows: Three Months Ended Six Months Ended (In millions) April 3, March 29, April 3, March 29, Defined Benefit Plans Service cost $ 2.6 $ 1.8 $ 5.1 $ 3.6 Interest cost 0.5 1.0 1.0 1.9 Expected return on plan assets (2.0) (1.6) (3.9) (3.2) Amortization of prior service cost (0.2) (0.2) (0.4) (0.4) Recognized actuarial loss 1.1 0.5 2.2 1.1 Net periodic benefit cost $ 2.0 $ 1.5 $ 4.0 $ 3.0

INCOME TAXES

INCOME TAXES	6 Months Ended
	Apr. 03, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s effective tax rate was 18.5% and 21.7% for the three months ended April 3, 2020, and March 29, 2019, respectively, and 20.2% and 23.2% for the six months ended April 3, 2020, and March 29, 2019. The Company’s effective tax rate was lower for the three months ended April 3, 2020, as compared to the year-ago period, primarily because earnings in the current period included the release of $8.2 million of contingent consideration related to the Company's acquisition of CTSI that resulted in no tax charge. The Company's effective tax rate was lower for the six month period ended April 3, 2020, as compared to the year-ago period, primarily because the prior period included the tax effect of a change in law due to the enactment of the Tax Cuts and Jobs Act, which was signed into law on December 22, 2017. The Company’s effective income tax rate differs from the U.S. federal statutory rate primarily because the Company’s foreign earnings are taxed at rates that are, on average, lower than the U.S. federal rate, and because the Company’s domestic earnings are subject to state income taxes. The total amount of unrecognized tax benefits did not materially change during the six months ended April 3, 2020; however, the amount of unrecognized tax benefits has increased as a result of positions taken during the current and prior years and has decreased as the result of the expiration of the statutes of limitation in various jurisdictions.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Apr. 03, 2020
Equity [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY Share Repurchase Program In November 2016, the VMS Board of Directors authorized the repurchase of an additional 8.0 million shares of VMS common stock commencing on January 1, 2017. Share repurchases under the Company's authorizations may be made in open market purchases, in privately negotiated transactions (including accelerated share repurchase programs), or under Rule 10b5-1 share repurchase plans, and may be made from time to time in one or more blocks. All shares that were repurchased under the Company's share repurchase programs have been retired. As of April 3, 2020, approximately 1.6 million shares of VMS common stock remained available for repurchase under the November 2016 authorization. At the beginning of the third quarter of fiscal year 2020, as a precautionary measure due to the COVID-19 pandemic, the Company has paused its share repurchase program. The Company repurchased shares of VMS common stock during the periods presented as follows: Three Months Ended Six Months Ended (In millions, except per share amounts) April 3, March 29, April 3, March 29, Number of shares 0.3 0.4 0.6 0.7 Average repurchase price per share $ 126.01 $ 120.89 $ 133.02 $ 115.71 Total cost of shares repurchased $ 39.8 $ 50.8 $ 86.2 $ 85.6 Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive loss by component and related tax effects are summarized as follows: (In millions) Net Unrealized Gains Net Cumulative Accumulated Balance at September 27, 2019 $ (61.7) $ 2.1 $ (42.5) $ (102.1) Other comprehensive earnings (loss) before reclassifications — 2.6 (1.7) 0.9 Amounts reclassified out of other comprehensive earnings (loss) 1.7 (1.9) — (0.2) Tax expense (0.2) (0.2) — (0.4) Balance at April 3, 2020 $ (60.2) $ 2.6 $ (44.2) $ (101.8) (In millions) Net Unrealized Gains Cumulative Accumulated Balance at September 28, 2018 $ (35.2) $ (30.1) $ (65.3) Other comprehensive earnings (loss) before reclassifications — (7.1) (7.1) Amounts reclassified out of other comprehensive earnings (loss) 0.7 — 0.7 Tax expense (0.1) — (0.1) Balance at March 29, 2019 $ (34.6) $ (37.2) $ (71.8) The amounts reclassified, before taxes, out of other comprehensive earnings (loss) into the Condensed Consolidated Statements of Earnings, with line item location, during each period were as follows: (In millions) Three Months Ended Six Months Ended Other Comprehensive Earnings (Loss) Components April 3, March 29, April 3, March 29, Line Item in Statements of Earnings Unrealized loss on defined benefit pension and post-retirement benefit plans $ (0.8) $ (0.3) $ (1.7) $ (0.7) Other income (expense), net Unrealized earnings on cash flow hedging instruments 1.1 — 1.9 — Revenues Total amounts reclassified out of other comprehensive earnings (loss) $ 0.3 $ (0.3) $ 0.2 $ (0.7)

EMPLOYEE STOCK PLANS

EMPLOYEE STOCK PLANS	6 Months Ended
	Apr. 03, 2020
Share-based Payment Arrangement [Abstract]
EMPLOYEE STOCK PLANS	EMPLOYEE STOCK PLANS The table below summarizes the share-based compensation expense recognized for employee stock awards and employee stock purchase plan shares: Three Months Ended Six Months Ended (In millions) April 3, March 29, April 3, March 29, Cost of revenues - Product $ 0.9 $ 0.8 $ 1.7 $ 1.5 Cost of revenues - Service 1.2 1.0 2.5 2.1 Research and development 1.5 1.1 2.7 2.2 Selling, general and administrative 7.7 9.6 19.3 17.2 Total share-based compensation expense $ 11.3 $ 12.5 $ 26.2 $ 23.0 Income tax benefit for share-based compensation $ (2.1) $ (2.2) $ (5.0) $ (4.5) The fair value of stock options and performance stock options granted was estimated at the date of grant using the Black-Scholes model with the following weighted average assumptions: Three Months Ended Six Months Ended April 3, March 29, April 3, March 29, Employee Stock Option Plans Expected term (in years) 3.73 3.76 3.74 3.76 Risk-free interest rate 1.4 % 2.5 % 1.5 % 2.6 % Expected volatility 23.5 % 23.6 % 24.6 % 23.1 % Expected dividend — % — % — % — % Weighted average fair value at grant date (1) $ 29.74 $ 29.16 $ 29.60 $ 27.85 (1) Excludes the fair value of the market condition based on relative total shareholder return for the performance stock options granted during the period. The option component of employee stock purchase plan shares was estimated at the date of grant using the Black-Scholes model with the following weighted average assumptions: Six Months Ended April 3, March 29, Employee Stock Purchase Plan Expected term (in years) 0.50 0.50 Risk-free interest rate 1.6 % 2.5 % Expected volatility 26.4 % 18.6 % Expected dividend — % — % Weighted average fair value at grant date $ 27.58 $ 22.82 The activity for stock options and performance stock options is summarized as follows: Options Outstanding (In millions, except per share amounts) Number of Weighted Weighted Aggregate Intrinsic Value (1) Balance at September 27, 2019 2.2 $ 97.66 Granted 0.4 140.79 Cancelled or expired — 116.25 Exercised (0.3) 80.34 Balance at April 3, 2020 2.3 $ 106.81 4.6 $ 15.9 Exercisable at April 3, 2020 1.1 $ 88.41 3.4 $ 15.9 (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 VMS common stock of $96.35 as of April 3, 2020, the last trading date of the second quarter of fiscal year 2020, 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. As of April 3, 2020, there was $23.3 million of total unrecognized compensation expense related to stock options and performance stock options granted under the Company's employee stock plans. This unrecognized compensation expense is expected to be recognized over a weighted average period of 2.1 years. As of April 3, 2020, there was $0.3 million of total unrecognized compensation expense related to cash-settled stock appreciation rights granted outside the Company's employee stock plans. This unrecognized compensation expense is expected to be recognized over a weighted average period of 2.5 years. The activity for restricted stock units, deferred stock units and performance units is summarized as follows: (In millions, except per share amounts) Number of Weighted Average Balance at September 27, 2019 0.7 $ 108.35 Granted 0.3 145.08 Vested (0.3) 100.04 Cancelled or expired — 120.64 Balance at April 3, 2020 0.7 $ 130.83 As of April 3, 2020, unrecognized compensation expense totaling $64.9 million was related to awards of restricted stock units, deferred stock units and performance units granted under the Company's employee stock plans. This unrecognized share-based compensation expense is expected to be recognized over a weighted average period of 2.1 years.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Apr. 03, 2020
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table sets forth the computation of basic and diluted net earnings per share: Three Months Ended Six Months Ended (In millions, except per share amounts) April 3, March 29, April 3, March 29, Net earnings $ 43.1 $ 88.4 $ 132.0 $ 192.3 Less: Net earnings (loss) attributable to noncontrolling interests (0.1) (0.2) 0.6 0.5 Net earnings attributable to Varian $ 43.2 $ 88.6 $ 131.4 $ 191.8 Denominator: Weighted average shares outstanding - basic 90.7 91.0 90.8 91.0 Dilutive effect of potential common shares 0.7 0.9 0.8 1.0 Weighted average shares outstanding - diluted 91.4 91.9 91.6 92.0 Net earnings per share attributable to Varian - basic $ 0.48 $ 0.97 $ 1.45 $ 2.11 Net earnings per share attributable to Varian - diluted $ 0.47 $ 0.96 $ 1.43 $ 2.09 Anti-dilutive employee share-based awards, excluded 1.1 0.5 1.1 1.0

PROTON SOLUTIONS LOANS AND INVE

PROTON SOLUTIONS LOANS AND INVESTMENTS	6 Months Ended
	Apr. 03, 2020
Receivables [Abstract]
PROTON SOLUTIONS LOANS AND INVESTMENTS	PROTON SOLUTIONS LOANS AND INVESTMENTS In limited cases, the Company participates, along with other investors and at market terms, in the financing of proton therapy centers. Over time, the Company has divested some of its investments, including investments in CPTC, the New York Proton Center ("NYPC"), the Georgia Proton Treatment Center and the Delray Radiation Therapy Center. The following table lists the Company's notes receivable, including accrued interest, senior secured debt, available-for-sale securities, loans outstanding and future commitments for funding the development, construction and operation of various proton therapy centers: April 3, 2020 September 27, 2019 (In millions) Balance Commitment Balance Commitment Notes Receivable and Secured Debt: (1) NYPC loan $ 33.1 $ — $ 31.8 $ — RPTC senior secured debt 23.2 — 23.5 — Proton International LLC loan 1.8 — 1.8 — $ 58.1 $ — $ 57.1 $ — Available-For-Sale Securities: (1) MPTC Series B-1 Bonds $ 28.1 $ — $ 27.1 $ — MPTC Series B-2 Bonds 26.2 — 25.1 — APTC securities 6.1 — 6.6 — $ 60.4 $ — $ 58.8 $ — CPTC Loans: Short-term revolving loan (2) $ 5.3 $ 1.9 $ 5.3 $ 1.9 Term loan (3) 4.7 — 45.2 — $ 10.0 $ 1.9 $ 50.5 $ 1.9 (1) Included in other assets at April 3, 2020 and September 27, 2019 on the Company's Condensed Consolidated Balance Sheets, except for amounts related to short-term interest receivable. (2) Included in prepaid and other current assets on the Company's Condensed Consolidated Balance Sheets. (3) Included in prepaid and other current assets at April 3, 2020 and other assets at September 27, 2019 on the Company's Condensed Consolidated Balance Sheets. Alabama Proton Therapy Center ("APTC") Securities In December 2017, the Company purchased $6.0 million in Subordinate Revenue Bonds, which financed the APTC. The Subordinate Revenue Bonds carry an interest rate of 8.5% and pay interest semi-annually. The Company is scheduled to start receiving annual principal payments on the Subordinate Revenue Bonds beginning on November 1, 2022. The Subordinate Revenue Bonds will mature on October 1, 2047. At April 3, 2020 and September 27, 2019, the Company had $6.4 and $2.1 million in trade and unbilled receivables, respectively, which included $5.8 million and $2.1 million, in long-term unbilled receivables, respectively, from APTC. Rinecker Proton Therapy Center ("RPTC") Senior Secured Debt In July 2017, the Company purchased the outstanding senior secured debt related to the RPTC in Munich, Germany for €21.5 million or $24.5 million. By purchasing the senior secured debt, the Company has a right to approximately 77 million Euros in claims against all of RPTC's assets. In September 2017, the management of RPTC filed for bankruptcy in Germany. In January 2018, the final insolvency proceedings commenced, and in December 2019 the center closed for clinical operations and decommissioning began. Upon finalization of bankruptcy proceedings, the Company believes it is probable it will recover the outstanding senior secured debt balance and trade accounts receivable, net. The Company classified its senior secured debt as long-term other assets because it expects the bankruptcy proceedings to be complete in greater than one year. At April 3, 2020 and September 27, 2019, the Company had $4.2 million and $4.6 million, respectively, in long-term trade receivables, net, from RPTC, which does not include any unbilled receivables. New York Proton Center ("NYPC") Loan In July 2015, the Company committed to loan up to $91.5 million to MM Proton I, LLC, the project developer of the NYPC. In June 2016, the Company assigned $73.0 million of this loan to Deutsche Bank AG. The remaining balance is comprised of an $18.5 million “Subordinate Loan” with a six-and-a-half-year term at up to 13.5% interest. In December 2019, the interest rate on the loan was reduced to 10%, effective May 1, 2019. As of April 3, 2020, the Subordinate Loan is $33.1 million, including accrued interest. The principal balance and accrued interest on the Subordinate Loan are due in full at maturity in January 2022. At April 3, 2020 and September 27, 2019, the Company had $19.1 million and $16.6 million, respectively, in trade and unbilled receivables, which included $6.5 million and $6.0 million in unbilled receivables, respectively, from NYPC. Maryland Proton Treatment Center ("MPTC") Securities The Company has Subordinate Revenue Bonds ("MPTC Series B-2 Bonds") that carry an interest rate of 8.5% per annum with interest accruing up to the MPTC Series B-2 Bonds face amount of $33.9 million until January 1, 2022 and then will pay cash interest semi-annually. The MPTC Series B-2 Bonds will mature on January 1, 2049. The Company also has Subordinate Revenue Bonds ("MPTC Series B-1 Bonds") that carry an interest rate of 7.5% with interest accruing up to the MPTC Series B-1 Bonds face amount of $32.0 million on January 1, 2022 and then will pay cash interest semi-annually. The MPTC Series B-1 Bonds will mature on January 1, 2048. The MPTC Series B-1 Bonds are senior in right and time to the MPTC Series B-2 Bonds. At April 3, 2020 and September 27, 2019, the Company had zero net trade and unbilled receivables from MPTC. Variable Interest Entities The Company has determined that MM Proton I, LLC and RPTC are variable interest entities and that the Company holds a significant variable interest of each of the entities through its participation in the loan facilities and its agreements to supply and service the proton therapy equipment. The Company has concluded that it is not the primary beneficiary of any of these entities. The Company has no voting rights, has no approval authority or veto rights for these centers' budget, and does not have the power to direct patient recruitment, clinical operations and management of these Centers, which the Company believes are the matters that most significantly affect their economic performance. The Company’s exposure to loss as a result of its involvement with MM Proton I, LLC and RPTC is limited to the carrying amounts of the above-mentioned assets on its Condensed Consolidated Balance Sheets. California Proton Therapy Center ("CPTC") Loans Between September 2011 and November 2015, the Company, ORIX and J.P. Morgan (the "Lenders”) funded loans (“Original CPTC Loans”) to the Scripps Proton Therapy Center in San Diego, California. ORIX is the loan agent. In March 2017, California Proton Treatment Center, LLC ("Original CPTC") filed for bankruptcy and concurrently entered into a Debtor-in-Possession Facility (the "DIP Facility") with the Lenders where the Company's pro-rata share of the DIP Facility was $7.3 million. In September 2017, the Lenders and Scripps signed a Transition Agreement to transition the operations of the center from Scripps to Proton Doctors Professional Corporation. As a result of these events, the Company recorded an impairment charge of $51.4 million to its Original CPTC Loans in fiscal year 2017. Pursuant to an order of the Bankruptcy Court, the California Proton Treatment Center ("Original CPTC") conducted an auction of the Scripps Proton Therapy Center. On December 6, 2017 (“Closing Date”), the Bankruptcy Court approved the sale of Scripps Proton Therapy Center to California Proton Therapy Center, LLC (“CPTC”), an entity owned by the Lenders. The Lenders purchased all assets and assumed $112.0 million of Original CPTC’s outstanding liabilities. On December 13, 2017, the Bankruptcy Court dismissed the bankruptcy filing of Original CPTC. On the Closing Date, the Lenders entered into a Credit Agreement with Original CPTC of which the terms of the Original CPTC Loans, DIP Facility and accrued interest (collectively “Former Loans”) have been modified. In addition to the partially satisfied Original CPTC Loans reinstated by the Bankruptcy Court, the Company received a 47.08% equity ownership in CPTC, which it sold for a nominal amount in March 2019. Original CPTC has assigned all its Former Loans to CPTC at an amount of $112.0 million, the partially satisfied loan balance. Per the terms of the Credit Agreement, the Company's portion of the $112.0 million is $53.5 million; the remainder is allocated between ORIX and J.P. Morgan. The $53.5 million is composed of four tranches: Tranche A of $2.0 million, Tranche B of $7.2 million, Tranche C of $15.6 million, and Tranche D of $28.7 million (collectively, the "Term Loan"). The maturity date of the Term Loan is three years from the Closing Date. The Term Loan is secured by the assets of CPTC. In addition, the Lenders have committed to lend up to $15.0 million in a Revolving Loan with a maturity date of one year from the Closing Date. In the first quarters of fiscal 2019, fiscal 2020 and subsequent to the end of the first quarter of fiscal 2020, as provided in the initial agreement, the Lenders have granted extensions to the term of the Revolving Loan with a current maturity of June 30, 2020. The Company's share of the funding commitment from the Revolving Loan is $7.2 million, and as of April 3, 2020, the Company has funded $5.3 million. Subsequent to quarter end, the balance of the Revolving Loan was funded. All of the tranches accrue paid-in-kind interest at 7.5% per annum, except the Tranche B and the Revolving Loan, which accrue paid-in-kind interest at 10% per annum. The seniority of these loans is as follows: Revolving Loan, Tranche A, Tranche B, Tranche C and Tranche D. If CPTC is in default, the interest rate of the Tranche A, C and D will increase to 9.5% and the interest rate on the Tranche B and the Revolving Loan will increase to 12.0%. Primarily as a result of the COVID-19 pandemic, during March and April 2020, CPTC suffered material negative impacts to its operating plan, including declines in current and projected patient volume and delays in partnership with a significant clinical partner. Therefore, the Company concluded it was no longer probable that it will collect the amounts owed under the Term Loan and Revolving Loan (collectively "CPTC Loans") when due and recorded a $40.5 million impairment charge to its CPTC Loans using the probability weighted expected return model, utilizing management's assumptions of different outcomes, in the Condensed Consolidated Statements of Earnings in the second quarter of fiscal year 2020. As a result of this impairment charge, the CPTC Loans were written down to their estimated fair value of $10.0 million. At April 3, 2020, and September 27, 2019, the Company had $2.9 million and $2.6 million, respectively, in trade receivables, net, from CPTC. Further, the Company has determined that CPTC is a variable interest entity because of the Company's participation in the loan facilities, and its operations and maintenance agreement. The Company has no special approval authority or veto rights for CPTC’s budget and does not have the power to direct patient recruitment, clinical operations and management of CPTC, which the Company believes are the matters that most significantly affect their economic performance. Therefore, the Company does not have majority voting rights and no power to direct activities at CPTC, and as a result it is not the primary beneficiary of CPTC.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Apr. 03, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company has two reportable operating segments: Oncology Systems and Proton Solutions. The Company's Interventional Solutions business is reflected in the "Other" category because it does not meet the criteria for a reportable operating segment. The operating segments were determined based on how the Company’s Chief Executive Officer, its Chief Operating Decision Maker (“CODM”), views and evaluates the Company’s operations. The CODM allocates resources to, and evaluates the financial performance of each operating segment primarily based on operating earnings. Description of Segments The Oncology Systems segment designs, manufactures, sells and services hardware and software products for treating cancer with conventional radiation therapy, and advanced treatments such as fixed field intensity-modulated radiation therapy (“IMRT”), image-guided radiation therapy (“IGRT”), volumetric modulated arc therapy ("VMAT"), stereotactic radiosurgery (“SRS”), stereotactic body radiotherapy (“SBRT”) and brachytherapy as well as associated quality assurance equipment. The Oncology Systems’ hardware products include linear accelerators, brachytherapy afterloaders, treatment accessories, artificial intelligence-powered adaptive delivery systems and quality assurance software. The Oncology Systems’ software solutions include treatment planning, informatics, clinical knowledge exchange, patient care management, practice management and decision support for comprehensive cancer clinics, radiotherapy centers and medical oncology practices. Oncology Systems’ products enable radiation oncology departments in hospitals and clinics to perform conventional radiotherapy treatments and offer advanced treatments such as IMRT, IGRT, VMAT, SRS and SBRT, and treat patients using brachytherapy techniques, which involve the introduction or temporary insertion of radioactive sources. The Oncology Systems' products are also used by surgeons and radiation oncologists to perform stereotactic radiosurgery and by medical oncology departments to manage patient treatments. Oncology Systems’ customers worldwide include university research and community hospitals, private and governmental institutions, healthcare agencies, physicians’ offices, medical oncology practices, radiotherapy centers and cancer care clinics. The Oncology Systems segment offers services ranging from hardware phone support, break/fix repair of linear accelerators, obsolescence protection of hardware, software support, software upgrades, hosting as a service, as well as clinical consulting services. The Oncology Systems segment also provides clinical practice services that assist within the clinical workflow. These services focus on decision support and/or cancer care knowledge augmentation aimed at facilitating improved accessibility and affordability to care while maintaining a fundamental level of clinical quality. Further, the Company operates 12 multi-disciplinary cancer centers and one specialty hospital in India and one multi-disciplinary cancer center in Sri Lanka. The Proton Solutions segment develops, designs, manufactures, sells and services products and systems for delivering proton therapy, another form of external beam radiotherapy using proton beams, for the treatment of cancer. The Other category primarily includes the Interventional Solutions business, which offers products for interventional oncology procedures and treatments, including cryoablation, microwave ablation and embolization. Interventional Solutions also provides software and remote services for post treatment dose calculation for Yttrium-90 microspheres used in selective internal radiation therapy. The Other category also includes assets related to the use of radiation in the heart and other forms of radiosurgery for cardiovascular disease. The following information is provided for the purpose of achieving an understanding of operations but 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. The Company allocates corporate costs to its operating segments based on the relative revenues of Oncology Systems, Proton Solutions and Interventional Solutions. The Company allocates these costs, excluding certain corporate related costs, transactions or adjustments that the Company's CODM considers to be non-operational, such as restructuring and impairment charges, significant litigation charges or benefits and legal costs, and acquisition-related expenses and in process research and development. Although the Company excludes these amounts from segment operating earnings, they are included in the condensed consolidated operating earnings and included in the reconciliation below. The following table summarizes select financial results for each reportable segment: Three Months Ended Six Months Ended (In millions) April 3, March 29, April 3, March 29, Revenues Oncology Systems $ 760.5 $ 746.8 $ 1,542.9 $ 1,449.3 Proton Solutions 22.3 32.6 49.9 71.1 Total reportable segments 782.8 779.4 1,592.8 1,520.4 Other 11.7 — 30.6 — Total Company $ 794.5 $ 779.4 $ 1,623.4 $ 1,520.4 Earnings before taxes Oncology Systems $ 110.9 $ 131.7 $ 247.3 $ 255.8 Proton Solutions (14.3) (20.0) (28.6) (28.8) Total reportable segments 96.6 111.7 218.7 227.0 Other (2.3) — 0.5 — Unallocated corporate (39.4) (1.9) (54.3) (5.5) Operating earnings 54.9 109.8 164.9 221.5 Interest income (expense), net (1.2) 3.0 (2.9) 5.7 Other income (expense), net (0.9) 0.2 3.5 23.2 Total Company $ 52.8 $ 113.0 $ 165.5 $ 250.4 Disaggregation of Revenues The Company disaggregates its revenues from contracts by major product categories, geographic region, and by timing of revenue recognition for each of its reportable operating segments, as the Company believes this best depicts how the nature, amount, timing and uncertainty of revenues and cash flows are affected by economic factors. See details in the tables below. Revenues by Product Type Three Months Ended Six Months Ended Total Revenues by Product Type April 3, March 29, April 3, March 29, (In millions) 2020 2019 2020 2019 Hardware Oncology Systems $ 316.1 $ 339.1 $ 636.1 $ 652.7 Proton Solutions 13.1 27.9 33.2 61.5 Other 11.7 — 30.6 — Total Hardware 340.9 367.0 699.9 714.2 Software (1) Oncology Systems 153.2 144.2 302.0 275.4 Proton Solutions 1.5 — 1.5 — Total Software 154.7 144.2 303.5 275.4 Service Oncology Systems 291.2 263.5 604.8 521.2 Proton Solutions 7.7 4.7 15.2 9.6 Total Service 298.9 268.2 620.0 530.8 Total Revenues $ 794.5 $ 779.4 $ 1,623.4 $ 1,520.4 (1) Includes software support agreements that are recorded in revenues from service, and software licenses that are recorded in revenues from product in the Condensed Consolidated Statements of Earnings. Revenues by Geographical Region Three Months Ended Six Months Ended Total Revenues by Geographical Region April 3, March 29, April 3, March 29, (In millions) 2020 2019 2020 2019 Americas Oncology Systems $ 369.7 $ 357.1 $ 748.6 $ 687.9 Proton Solutions 11.4 14.2 28.3 33.8 Other 6.8 — 13.2 — Total Americas 387.9 371.3 790.1 721.7 EMEA Oncology Systems 240.9 245.3 500.7 479.8 Proton Solutions 9.8 16.2 20.1 32.7 Other 0.2 — 3.0 — Total EMEA 250.9 261.5 523.8 512.5 APAC Oncology Systems 149.9 144.4 293.6 281.6 Proton Solutions 1.1 2.2 1.5 4.6 Other 4.7 — 14.4 — Total APAC 155.7 146.6 309.5 286.2 Total Revenues $ 794.5 $ 779.4 $ 1,623.4 $ 1,520.4 North America (1) Oncology Systems $ 343.9 $ 329.2 $ 699.2 $ 638.3 Proton Solutions 11.5 14.2 28.3 33.8 Other 6.8 — 13.2 — Total North America 362.2 343.4 740.7 672.1 International Oncology Systems 416.6 417.6 843.7 811.0 Proton Solutions 10.8 18.4 21.6 37.3 Other 4.9 — 17.4 — Total International 432.3 436.0 882.7 848.3 Total Revenues $ 794.5 $ 779.4 $ 1,623.4 $ 1,520.4 (1) North America primarily includes the United States and Canada. Revenues by Timing of Revenue Recognition Three Months Ended Six Months Ended Timing of revenue recognition April 3, March 29, April 3, March 29, (In millions) 2020 2019 2020 2019 Products transferred at a point in time Oncology Systems $ 381.0 $ 402.6 $ 763.0 $ 769.2 Proton Solutions 1.5 — 1.5 — Other 11.7 — 30.6 — Total products transferred at a point in time 394.2 402.6 795.1 769.2 Products and services transferred over time Oncology Systems 379.5 344.2 779.9 680.1 Proton Solutions 20.8 32.6 48.4 71.1 Total products and services transferred over time 400.3 376.8 828.3 751.2 Total Revenues $ 794.5 $ 779.4 $ 1,623.4 $ 1,520.4

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	6 Months Ended
	Apr. 03, 2020
Business Combinations [Abstract]
BUSINESS COMBINATIONS	BUSINESS COMBINATIONS Business Combinations in Fiscal Year 2020 The Company completed three acquisitions in its Oncology Systems business that were not material in the first six months of fiscal year 2020. The acquisitions were comprised of goodwill and assets acquired. The purchase accounting from these transactions is not yet finalized. Business Combinations in Fiscal Year 2019 Assets acquired from Boston Scientific In August 2019, the Company acquired Boston Scientific's embolics microspheres business, for treating arteriovenous malformations and hypervascular tumors, for a purchase price of $90.0 million in cash consideration. The assets from this purchase are included in the Company's Interventional Solutions business, which is included in the Other category. The purchase accounting from this transaction has been finalized. Cancer Treatment Services International In June 2019, the Company acquired CTSI, a privately-held company for a purchase price of $277.0 million, consisting of $262.8 million of cash consideration, $8.2 million of contingent consideration, and $6.0 million of other consideration. The undiscounted range of the contingent consideration payments is zero to $58 million and is based on actual revenues over the 18 months following the acquisition date. In March 2020, the Company released the $8.2 million of contingent consideration to earnings due to CTSI having lower projected financial performance during the earnout period. The Company has included this acquisition in its Oncology Systems business. The purchase accounting from this transaction is not yet finalized. The Company recorded a measurement period adjustment in the first quarter of fiscal year 2020 that was not material. Endocare and Alicon In June 2019, the Company acquired Endocare and Alicon for a combined purchase price of $210.0 million consisting of $197.4 million of cash consideration and $12.6 million of contingent consideration. The undiscounted range of the contingent consideration payments is zero to $40 million and is based on actual revenues through March 2020. Due to better than expected actual and projected financial performance for Endocare and Alicon, as well as a change in the expected mix of products, the Company recorded an $8.8 million increase in the fair value of contingent consideration in the first quarter of fiscal year 2020, in addition to a $18.6 million increase in the fair value of the contingent consideration recorded in the fourth quarter of fiscal year 2019. The Company has recorded a total of $40.0 million in contingent consideration related to the Endocare and Alicon acquisitions, which is expected to be paid in fiscal year 2020. These acquisitions are included in the Company's Interventional Solutions business, which is included in the Other category. The purchase accounting from this transaction is not yet finalized. The Company has not recorded any measurement period adjustments this quarter. Other Acquisitions in Fiscal Year 2019 In the third quarter of fiscal year 2019, the Company purchased a privately-held company for a cash purchase price of $15.2 million, including a holdback of $3.6 million and contingent consideration. At the closing date, the value of the contingent consideration was zero because none of the milestones were probable to be achieved; however, the Company could potentially pay up to approximately $9 million by 2023 if certain milestones were met plus additional payments for achieving revenue targets through 2035. The acquisition was classified as an asset acquisition. This acquisition is included in the Other category. In the first quarter of fiscal year 2019, the Company acquired a privately-held software company for a purchase price of $28.5 million. The acquisition primarily consisted of $21.9 million in goodwill and $6.5 million in finite-lived intangible assets. The Company integrated this acquisition into its Oncology Systems reporting unit. Other Information The excess of purchase price over the fair value amounts assigned to the assets acquired and liabilities assumed represents the goodwill amount. The Company believes the factors that contributed to goodwill in its completed acquisitions include synergies not available to market participants, as well as the acquisition of a talented workforce. The fair value of assets acquired and liabilities assumed, has been determined on a preliminary basis for acquisitions completed in the current year and certain acquisitions in the previous fiscal year. The Company will finalize these amounts as it obtains the information necessary to complete the measurement process. Any changes resulting from facts and circumstances that existed as of the date of a business combination may result in certain adjustments. The Company expects to finalize these amounts no later than one year from the date of each business combination. The condensed consolidated financial statements include the operating results from the date the above businesses were acquired. Pro forma results of operations for the completed acquisitions have not been presented because the effects were not material to the Company's condensed consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Apr. 03, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). Certain information and note disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated balance sheet as of September 27, 2019, was derived from audited financial statements as of that date, but does not include all disclosures required by accounting principles generally accepted in the United States of America. These condensed consolidated financial statements and the accompanying notes are unaudited and should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 27, 2019 (the “2019 Annual Report”). The Company is subject to risks and uncertainties as a result of the COVID-19 pandemic and the extent and duration of the future impact on the Company's business is highly uncertain and difficult to predict. The COVID-19 pandemic has adversely impacted, and is likely to further adversely impact, nearly all aspects of the Company’s business and markets, including its workforce and operations and the operations of its customers, suppliers, distributors and business partners. The full extent to which the pandemic will directly or indirectly impact the Company's business, results of operations and financial condition, including revenues, expenses, manufacturing, research and development costs, reserves and allowances, fair value measurements, asset impairment charges, contingent consideration obligations and the effectiveness of the Company's hedging instruments, will depend on future developments that are highly uncertain and difficult to predict. The Company has approximately $1.3 billion in accessible liquidity, including approximately $668 million in cash and cash equivalents and approximately $661 million available under its $1.2 billion revolving credit facility. To date, the Company has not experienced a significant decline in customer credit quality or a significant increase in requests for changes or extension of payment terms as a result of COVID-19, although management will continue to closely monitor these metrics going forward. Furthermore, the Company's ability to estimate and make certain judgments may be materially impacted by the uncertainty caused by the pandemic. As of the date of issuance of these condensed consolidated financial statements, the extent to which the COVID-19 pandemic may materially impact the Company's financial condition, liquidity, or results of operations is uncertain. In the opinion of management, the condensed consolidated financial statements herein include adjustments (consisting only of normal recurring adjustments) necessary for a fair statement of the Company’s financial position as of April 3, 2020, and September 27, 2019, results of operations and statements of comprehensive earnings for the three and six months ended April 3, 2020, and March 29, 2019, statements of cash flows for the six months ended April 3, 2020, and March 29, 2019, and statements of equity for the six months ended April 3, 2020, and March 29, 2019. The results of operations for the six months
Reclassifications	Reclassifications Certain reclassifications have been made to the amounts in the prior year in order to conform to the current year's presentation.
Fiscal Year	Fiscal Year The fiscal years of the Company as reported are the 52- or 53-week periods ending on the Friday nearest September 30. Fiscal year 2020 is the 53-week period ending October 2, 2020. Fiscal year 2019 was the 52-week period that ended on September 27, 2019. The fiscal quarters ended April 3, 2020 and March 29, 2019, were both 13-week periods.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include those of VMS and its wholly-owned and majority-owned or controlled subsidiaries. Intercompany balances, transactions and stock holdings have been eliminated in consolidation. Consolidation of Variable Interest Entities
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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Due to the COVID-19 pandemic, the Company is subject to a greater degree of uncertainty than normal in making the judgments and estimates needed to apply its significant accounting policies, such as impairment of goodwill and intangibles and the impairment of investments and loans receivables. As the COVID-19 pandemic and responsive actions continue to develop, management may make changes to these estimates and judgments, which could result in material impacts to the Company's financial statements in future periods.
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 represents the right to use an underlying asset over the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. ROU assets may also include initial direct costs incurred and prepaid lease payments, less lease incentives. Lease liabilities and their corresponding ROU assets are recognized based on the present value of lease payments over the lease term, discounted using the Company's incremental borrowing rate ("IBR"). The Company recognizes operating leases with lease terms of more than 12 months in operating lease right-of-use assets, accrued liabilities, and long-term lease liabilities on its Condensed Consolidated Balance Sheets. The Company’s finance leases primarily represent certain sale and leaseback-sublease arrangements. The Company has entered into sale-leaseback arrangements with a third-party finance company for certain equipment and simultaneously subleased the equipment to certain qualified customers. The Company’s leaseback arrangements have been accounted for as finance leases as they meet one or more of the finance lease classification criteria. The Company recognizes finance leases with lease terms of more than 12 months in property, plant, and equipment, net, accrued liabilities, and other long-term liabilities on its Condensed Consolidated Balance Sheets. For purposes of calculating lease liabilities and the corresponding ROU assets, the Company's lease term may include options to extend or terminate the lease when it is reasonably certain that it will exercise that option. The Company generally does not have adequate information to determine the implicit rate in a lease, therefore the Company uses an estimated IBR. The Company does not maintain a public credit rating and its debt arrangements are unsecured, thus requiring significant judgment to calculate the IBR. The Company uses different data sets to estimate the IBR, including: (i) an estimated indicative credit rating of the Company; (ii) yields on comparable credit rating composite curves; (iii) foreign exchange rates; and (iv) an estimated adjustment for collateral. The Company also applies adjustments to account for considerations related to (i) tenor; and (ii) country credit rating that may not be fully incorporated by the aforementioned data sets. Certain of the Company’s lease arrangements include variable lease payments. Variable lease payments, not dependent on an index or discount rate, are expensed as incurred and are not included within the ROU asset and lease liability calculation. Variable lease payments generally include common area maintenance, utilities, maintenance charges, property taxes, insurance, and contingent rent payments. Certain of the Company's arrangements contain clauses that provide for contingent rent payments based on a percentage of revenue share and/or earnings before interest, taxes, depreciation and amortization. The Company combines lease and non-lease components as a single lease component for both its operating and finance leases. In addition, the Company does not record operating and finance lease assets and liabilities for short-term leases, which have an initial term of 12 months or less.
Recently Adopted Accounting Pronouncements and Recent Accounting Standards or Updates Not Yet Effective	Recently Adopted Accounting Pronouncements In the first quarter of fiscal year 2020, the Company adopted the Financial Accounting Standards Board ("FASB") standard on accounting for leases, "Leases." The new standard is intended to provide enhanced transparency and comparability by requiring lessees to record ROU assets and corresponding lease liabilities on the balance sheet. The Company adopted this standard under the optional transition method, which applies the standard on the effective date, rather than the earliest comparative period presented in the financial statements. The Company elected: (1) the "package of practical expedients," which does not require the Company to reassess its prior conclusions about lease identification, lease classification, and initial direct costs under the new standard; (2) not to separate non-lease components from lease components; and (3) not to recognize ROU assets and lease liabilities for short-term leases. The Company has implemented internal controls and key system functionalities to enable the preparation of financial information. The primary impact for the Company was the balance sheet recognition of ROU assets and lease liabilities for operating leases as a lessee. See Note 8, "Commitments and Contingencies," for more information on the impact of this adoption on the Company's condensed consolidated financial statements. In the first quarter of fiscal year 2020, the Company adopted FASB guidance that added the Overnight Index Swap rate based on the Secured Overnight Financing Rate ("SOFR") as a benchmark interest rate for hedge accounting purposes. The amendment recognizes SOFR as a likely LIBOR replacement and supports the marketplace transition by adding the new reference rate as a benchmark interest rate. The Company has not executed interest rate hedges but adopted the amendment prospectively as the Company may consider interest rate hedges in the future. The Company is monitoring the LIBOR to SOFR migration and will coordinate the transition of outstanding LIBOR based debt and any related interest rate derivatives with counterparties when the market is liquid to ensure an orderly and efficient transition. In the first quarter of fiscal year 2020, the Company adopted FASB guidance that allows companies to reclassify disproportionate tax effects in accumulated other comprehensive income caused by the Tax Cuts and Jobs Act to retained earnings. The impact of adopting this amendment on the Company's condensed consolidated financial statements was not material. Recent Accounting Standards or Updates Not Yet Effective In December 2019, the FASB issued guidance which simplifies the accounting for income taxes by removing certain exceptions to the current guidance and improving the consistent application of and simplification of other areas of the guidance. The standard is effective for the Company beginning in the first quarter of fiscal year 2022. Early adoption is permitted. The Company is evaluating the impact of adopting this guidance to its condensed consolidated financial statements. In August 2018, the FASB amended its guidance for costs of implementing a cloud computing service arrangement and aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This new standard also requires customers to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement. This new standard becomes effective for the Company in the first quarter of fiscal year 2021, with early adoption permitted. This new standard can be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company is evaluating the impact of adopting this amendment to its condensed consolidated financial statements. In August 2018, the FASB issued guidance which modifies the disclosure requirements for employers that have sponsor defined benefit pension or other post-retirement plans by removing and adding certain disclosures for these plans. The standard is effective for the Company beginning in the first quarter of fiscal year 2022. Early adoption is permitted. The Company is evaluating the impact of adopting this guidance to its condensed consolidated financial statements. In August 2018, the FASB issued guidance which changed the disclosure requirements for fair value measurements by removing, adding and modifying certain disclosures. The standard is effective for the Company beginning in the first quarter of fiscal year 2021. Early adoption is permitted. The Company is evaluating the impact of adopting this guidance to its condensed consolidated financial statements. In June 2016, the FASB issued an amendment to its accounting guidance related to the impairment of financial instruments. The amendment adds a new impairment model that is based on expected losses, rather than incurred losses. The amendment will be effective for the Company beginning in its first quarter of fiscal year 2021, with early adoption permitted beginning in the first quarter of fiscal year 2020. The Company is evaluating the impact of adopting this amendment to its condensed consolidated financial statements.

OTHER FINANCIAL INFORMATION (Ta

OTHER FINANCIAL INFORMATION (Tables)	6 Months Ended
	Apr. 03, 2020
Other Financial Information [Abstract]
Unbilled Accounts Receivable and Deferred Revenues from Contracts with Customers	The following table provides the Company's unbilled receivables and deferred revenues from contracts with customers: (In millions) April 3, September 27, Unbilled receivables - current $ 276.7 $ 346.7 Unbilled receivables - long-term (1) 71.6 35.1 Deferred revenues - current (798.1) (766.0) Deferred revenues - long-term (2) (74.1) (73.1) Total net unbilled receivables (deferred revenues) $ (523.9) $ (457.3) (1) Included in other assets on the Company's Condensed Consolidated Balance Sheets. (2) Included in other long-term liabilities on the Company's Condensed Consolidated Balance Sheets.
Unfulfilled Performance Obligations	The following table represents the Company's unfulfilled performance obligations as of April 3, 2020, and the estimated revenues expected to be recognized in the future related to these unfulfilled performance obligations: Fiscal Years of Revenue Recognition (In millions) Remainder of 2020 2021 2022 Thereafter Unfulfilled Performance Obligations $ 1,174.3 $ 2,345.7 $ 1,006.5 $ 2,415.9
Cash, Cash Equivalents and Restricted Cash	The following table summarizes the Company's cash, cash equivalents and restricted cash: (In millions) April 3, September 27, Cash and cash equivalents $ 667.8 $ 531.4 Restricted cash - current (1) 4.8 4.2 Restricted cash - long-term (2) 16.4 8.5 Total cash, cash equivalents, and restricted cash $ 689.0 $ 544.1 (1) Included in prepaid expenses and other current assets on the Company's Condensed Consolidated Balance Sheets. (2) Included in other assets on the Company's Condensed Consolidated Balance Sheets.
Inventories	The following table summarizes the Company's inventories: (In millions) April 3, September 27, Raw materials and parts $ 412.6 $ 376.5 Work-in-process 80.8 71.8 Finished goods 110.6 103.2 Total inventories $ 604.0 $ 551.5
Other Long-Term Liabilities	The following table summarizes the Company's other long-term liabilities: (In millions) April 3, September 27, Income taxes payable $ 168.7 $ 180.3 Deferred income taxes 75.4 75.3 Deferred revenues 74.1 73.1 Contingent consideration 34.0 42.3 Defined benefit pension plan 28.7 31.1 Other 42.2 38.0 Total other long-term liabilities $ 423.1 $ 440.1
Other Income, Net	The following table summarizes the Company's other income (expense), net: Three Months Ended Six Months Ended (In millions) April 3, March 29, April 3, March 29, Gain (loss) on equity investments $ — $ (0.2) $ 1.4 $ 21.8 Net foreign currency exchange gain (loss) (1.4) (0.5) 1.0 0.8 Other, net 0.5 0.9 1.1 0.6 Total other income (expense), net $ (0.9) $ 0.2 $ 3.5 $ 23.2

FAIR VALUE (Tables)

FAIR VALUE (Tables)	6 Months Ended
	Apr. 03, 2020
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	In the tables below, the Company has segregated all assets and liabilities that are measured at fair value on a recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date. Fair Value Measurements at April 3, 2020 Quoted Prices in Significant Significant Total Type of Instruments (Level 1) (Level 2) (Level 3) Balance (In millions) Assets: Cash equivalents: Money market funds $ 100.0 $ — $ — $ 100.0 Available-for-sale securities: MPTC Series B-1 Bonds — 28.1 — 28.1 MPTC Series B-2 Bonds — 26.2 — 26.2 APTC securities — 6.1 — 6.1 Derivative assets — 3.4 — 3.4 Total assets measured at fair value $ 100.0 $ 63.8 $ — $ 163.8 Liabilities: Contingent consideration $ — $ — $ (75.0) $ (75.0) Total liabilities measured at fair value $ — $ — $ (75.0) $ (75.0) Fair Value Measurements at September 27, 2019 Quoted Prices in Active Markets for Identical Instruments Significant Significant Unobservable Inputs Total Type of Instruments (Level 1) (Level 2) (Level 3) Balance (In millions) Assets: Cash equivalents: Money market funds $ 0.2 $ — $ — $ 0.2 Available-for-sale securities: MPTC Series B-1 Bonds — 27.1 — 27.1 MPTC Series B-2 Bonds — 25.1 — 25.1 APTC securities — 6.6 — 6.6 Derivative assets — 2.8 — 2.8 Total assets measured at fair value $ 0.2 $ 61.6 $ — $ 61.8 Liabilities: Contingent consideration $ — $ — $ (75.3) $ (75.3) Total liabilities measured at fair value $ — $ — $ (75.3) $ (75.3)
Reconciliation for Assets Measured and Recorded at Fair Value on Recurring Basis	The following table presents the reconciliation for liabilities measured and recorded at fair value on a recurring basis using significant unobservable inputs (Level 3): (In millions) Contingent Balance at September 27, 2019 $ (75.3) Adjustments due to the effect of foreign exchange 0.2 Change in fair value recognized in earnings 0.1 Balance at April 3, 2020 $ (75.0)

RECEIVABLES (Tables)

RECEIVABLES (Tables)	6 Months Ended
	Apr. 03, 2020
Receivables [Abstract]
Schedule of Trade and Unbilled Receivables, Net and Notes Receivable	The following table summarizes the Company's trade and unbilled receivables, net, and long-term notes receivable: (In millions) April 3, September 27, Trade and unbilled receivables, gross $ 1,131.2 $ 1,193.5 Allowance for doubtful accounts (48.9) (46.5) Trade and unbilled receivables, net $ 1,082.3 $ 1,147.0 Short-term $ 1,004.8 $ 1,106.3 Long-term (1) $ 77.5 $ 40.7 Long-term notes receivable (1) (2) $ 34.9 $ 33.6 (1) Included in other assets on the Company's Condensed Consolidated Balance Sheets. (2) Balances include accrued interest and are recorded in other assets on the Company's Condensed Consolidated Balance Sheets.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
	Apr. 03, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill by Reportable Operating Segment	The following table summarizes the activity of goodwill by reportable operating segment: (In millions) Oncology Systems Other Total (1) Balance at September 27, 2019 $ 447.9 $ 164.3 $ 612.2 Business combination 2.6 — 2.6 Measurement period adjustments to business combinations in prior year (0.1) — (0.1) Balance at April 3, 2020 $ 450.4 $ 164.3 $ 614.7
Indefinite-Lived Intangible Assets	The following table summarizes the gross carrying amount and accumulated amortization of the Company's intangible assets: April 3, 2020 September 27, 2019 (In millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Technologies and patents $ 226.9 $ (98.4) $ 128.5 $ 226.4 $ (85.9) $ 140.5 Customer contracts, supplier relationships, and partner relationships 121.1 (30.4) 90.7 121.1 (25.7) 95.4 Trade names 55.1 (5.0) 50.1 55.1 (3.0) 52.1 Other 6.1 (6.1) — 6.1 (6.1) — Total intangible with finite lives 409.2 (139.9) 269.3 408.7 (120.7) 288.0 In-process research and development with indefinite lives 12.3 — 12.3 12.7 — 12.7 Total intangible assets $ 421.5 $ (139.9) $ 281.6 $ 421.4 $ (120.7) $ 300.7
Finite-Lived Intangible Assets	The following table summarizes the gross carrying amount and accumulated amortization of the Company's intangible assets: April 3, 2020 September 27, 2019 (In millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Technologies and patents $ 226.9 $ (98.4) $ 128.5 $ 226.4 $ (85.9) $ 140.5 Customer contracts, supplier relationships, and partner relationships 121.1 (30.4) 90.7 121.1 (25.7) 95.4 Trade names 55.1 (5.0) 50.1 55.1 (3.0) 52.1 Other 6.1 (6.1) — 6.1 (6.1) — Total intangible with finite lives 409.2 (139.9) 269.3 408.7 (120.7) 288.0 In-process research and development with indefinite lives 12.3 — 12.3 12.7 — 12.7 Total intangible assets $ 421.5 $ (139.9) $ 281.6 $ 421.4 $ (120.7) $ 300.7
Future Amortization Expense	As of April 3, 2020, the Company estimates its remaining amortization expense for intangible assets with finite lives will be as follows (in millions): Fiscal Years: Remaining Amortization Expense Remainder of 2020 $ 18.5 2021 35.6 2022 33.8 2023 32.8 2024 25.7 Thereafter 122.9 Total remaining amortization for intangible assets $ 269.3

BORROWINGS (Tables)

BORROWINGS (Tables)	6 Months Ended
	Apr. 03, 2020
Debt Disclosure [Abstract]
Short-term Borrowings and Long-term Debt	The following table summarizes the Company's total short-term borrowings: April 3, 2020 September 27, 2019 (In millions, except for percentages) Amount Weighted-Average Interest Rate Amount Weighted-Average Interest Rate Short-term borrowings: Revolving Credit Facility $ 520.0 2.05 % $ 410.0 3.05 % Total short-term borrowings $ 520.0 $ 410.0

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	6 Months Ended
	Apr. 03, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivative Instruments Reported on the Balance Sheet	The fair value of derivative instruments reported on the Company's Condensed Consolidated Balance Sheets were as follows: April 3, September 27, 2019 (In millions) Balance Sheet Fair Value Derivatives designated as hedging instruments: Foreign exchange forward contracts Prepaid expenses and other current assets $ 3.4 $ 2.8 Total derivatives $ 3.4 $ 2.8
Cash Flow Hedging Activities	The Company had the following outstanding foreign currency forward contracts that were entered into to hedge forecasted revenues and designated as cash flow hedges: April 3, 2020 September 27, 2019 (In millions) Notional Value Sold Euro $ 45.7 $ 76.5 Japanese Yen 30.4 56.7 $ 76.1 $ 133.2
Amounts Before Tax Included in AOCI on the Balance Sheet	The following table presents the amounts, before tax, recognized in accumulated other comprehensive loss on the Condensed Consolidated Balance Sheets: Gain Recognized in Other Comprehensive Earnings (Loss) Three Months Ended Six Months Ended (In millions) April 3, 2020 March 29, 2019 April 3, 2020 March 29, 2019 Foreign currency forward contracts $ 2.7 $ — $ 2.6 $ —
Effect of Cash Flow Hedge Accounting on the Consolidated Statements of Earnings (Loss)	The effect of cash flow hedge accounting on the Condensed Consolidated Statements of Earnings was as follows: Location and Amount Recognized in Earnings on Cash Flow Hedging Relationships Three Months Ended Six Months Ended April 3, 2020 April 3, 2020 (In millions) Revenues Revenues Total amounts of income and expense line items presented in the Condensed Consolidated Statements of Earnings in which the effects of fair value and cash flow hedges are recorded $ 794.5 $ 1,623.4 Gain on cash flow hedge relationships: Foreign currency forward contracts: Amount of gain reclassified from accumulated other comprehensive loss into net earnings $ 1.1 $ 1.9
Notional Amounts of Outstanding Derivative Positions	The notional amount of the Company's outstanding foreign currency forward contracts relating to balance sheet hedging activities: (In millions) April 3, September 27, Notional value sold $ 382.8 $ 385.0 Notional value purchased $ 105.9 $ 52.3
Gains (Losses) Related to Foreign Currency Forward Exchange Contracts that are Not Designated as Hedging Instruments	The following table presents the gains recognized in the Condensed Consolidated Statements of Earnings related to the foreign currency forward contracts that are not designated as hedging instruments. Location of Gain Recognized in Net Earnings on Derivative Instruments Amount of Gain Recognized in Net Earnings on Derivative Instruments Three Months Ended Six Months Ended (In millions) April 3, March 29, April 3, March 29, Other income (expense), net $ 23.2 $ 3.6 $ 18.2 $ 6.4

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Apr. 03, 2020
Commitments and Contingencies Disclosure [Abstract]
Accrued Product Warranty	The following table reflects the changes in the Company’s accrued product warranty: Six Months Ended (In millions) April 3, March 29, Accrued product warranty, at beginning of period $ 43.1 $ 44.8 Charged to cost of revenues 33.4 27.7 Actual product warranty expenditures (33.3) (25.7) Accrued product warranty, at end of period $ 43.2 $ 46.8
Components of Lease Expense, Supplemental Cash Flow Information and Supplemental Balance Sheet Information	The following table summarizes the components of the Company's lease cost: Three Months Ended Six Months Ended (In millions) April 3, 2020 April 3, 2020 Operating lease cost $ 7.6 $ 15.4 Finance lease cost: Amortization of right-of-use assets 0.2 0.3 Interest on lease liabilities 0.2 0.3 Variable lease cost 4.2 8.7 Total lease cost $ 12.2 $ 24.7 The following table summarizes the supplemental cash flow information related to the Company's operating leases: Six Months Ended (In millions) April 3, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for leases $ 16.6 The following table summarizes supplemental balance sheet information related to the Company's operating and finance leases: (In millions) April 3, 2020 Operating leases: Operating right-of-use assets $ 123.8 Accrued liabilities $ 24.4 Long-term lease liabilities 100.4 Total lease liabilities $ 124.8 Finance leases: Property, plant, and equipment, net $ 12.8 Accrued liabilities $ 3.5 Other long-term liabilities 9.2 Total lease liabilities $ 12.7 The following table summarizes the weighted lease term and discount rate by operating and finance leases: April 3, 2020 Weighted average remaining lease term in years Operating leases 7.5 Finance leases 4.6 Weighted average discount rate Operating leases 5.0 % Finance leases 4.0 %
Future Minimum Operating Lease Payments	As of April 3, 2020, the future minimum lease payments are as follows: (In millions) Operating Leases Finance leases Remainder of 2020 $ 15.0 $ 1.8 2021 28.0 3.3 2022 22.4 2.8 2023 17.6 2.8 2024 13.3 1.1 Thereafter 63.6 2.0 Total minimum lease payments $ 159.9 $ 13.8 Less: imputed interest 35.1 1.1 Total lease liability $ 124.8 $ 12.7
Finance Lease Liability Maturity	As of April 3, 2020, the future minimum lease payments are as follows: (In millions) Operating Leases Finance leases Remainder of 2020 $ 15.0 $ 1.8 2021 28.0 3.3 2022 22.4 2.8 2023 17.6 2.8 2024 13.3 1.1 Thereafter 63.6 2.0 Total minimum lease payments $ 159.9 $ 13.8 Less: imputed interest 35.1 1.1 Total lease liability $ 124.8 $ 12.7

RETIREMENT PLANS (Tables)

RETIREMENT PLANS (Tables)	6 Months Ended
	Apr. 03, 2020
Retirement Benefits [Abstract]
Net Defined Benefit Costs	The components of net periodic benefit costs were as follows: Three Months Ended Six Months Ended (In millions) April 3, March 29, April 3, March 29, Defined Benefit Plans Service cost $ 2.6 $ 1.8 $ 5.1 $ 3.6 Interest cost 0.5 1.0 1.0 1.9 Expected return on plan assets (2.0) (1.6) (3.9) (3.2) Amortization of prior service cost (0.2) (0.2) (0.4) (0.4) Recognized actuarial loss 1.1 0.5 2.2 1.1 Net periodic benefit cost $ 2.0 $ 1.5 $ 4.0 $ 3.0

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
	Apr. 03, 2020
Equity [Abstract]
Share Repurchases	The Company repurchased shares of VMS common stock during the periods presented as follows: Three Months Ended Six Months Ended (In millions, except per share amounts) April 3, March 29, April 3, March 29, Number of shares 0.3 0.4 0.6 0.7 Average repurchase price per share $ 126.01 $ 120.89 $ 133.02 $ 115.71 Total cost of shares repurchased $ 39.8 $ 50.8 $ 86.2 $ 85.6
Accumulated Other Comprehensive Earnings (Loss) and Related Tax Effects	The changes in accumulated other comprehensive loss by component and related tax effects are summarized as follows: (In millions) Net Unrealized Gains Net Cumulative Accumulated Balance at September 27, 2019 $ (61.7) $ 2.1 $ (42.5) $ (102.1) Other comprehensive earnings (loss) before reclassifications — 2.6 (1.7) 0.9 Amounts reclassified out of other comprehensive earnings (loss) 1.7 (1.9) — (0.2) Tax expense (0.2) (0.2) — (0.4) Balance at April 3, 2020 $ (60.2) $ 2.6 $ (44.2) $ (101.8) (In millions) Net Unrealized Gains Cumulative Accumulated Balance at September 28, 2018 $ (35.2) $ (30.1) $ (65.3) Other comprehensive earnings (loss) before reclassifications — (7.1) (7.1) Amounts reclassified out of other comprehensive earnings (loss) 0.7 — 0.7 Tax expense (0.1) — (0.1) Balance at March 29, 2019 $ (34.6) $ (37.2) $ (71.8)
Amounts Reclassified Out of Other Comprehensive Earnings (Loss)	The amounts reclassified, before taxes, out of other comprehensive earnings (loss) into the Condensed Consolidated Statements of Earnings, with line item location, during each period were as follows: (In millions) Three Months Ended Six Months Ended Other Comprehensive Earnings (Loss) Components April 3, March 29, April 3, March 29, Line Item in Statements of Earnings Unrealized loss on defined benefit pension and post-retirement benefit plans $ (0.8) $ (0.3) $ (1.7) $ (0.7) Other income (expense), net Unrealized earnings on cash flow hedging instruments 1.1 — 1.9 — Revenues Total amounts reclassified out of other comprehensive earnings (loss) $ 0.3 $ (0.3) $ 0.2 $ (0.7)

EMPLOYEE STOCK PLANS (Tables)

EMPLOYEE STOCK PLANS (Tables)	6 Months Ended
	Apr. 03, 2020
Share-based Payment Arrangement [Abstract]
Share-Based Compensation Expense	The table below summarizes the share-based compensation expense recognized for employee stock awards and employee stock purchase plan shares: Three Months Ended Six Months Ended (In millions) April 3, March 29, April 3, March 29, Cost of revenues - Product $ 0.9 $ 0.8 $ 1.7 $ 1.5 Cost of revenues - Service 1.2 1.0 2.5 2.1 Research and development 1.5 1.1 2.7 2.2 Selling, general and administrative 7.7 9.6 19.3 17.2 Total share-based compensation expense $ 11.3 $ 12.5 $ 26.2 $ 23.0 Income tax benefit for share-based compensation $ (2.1) $ (2.2) $ (5.0) $ (4.5)
Fair Value of Employee Stock Option Plans With Weighted Average Assumptions	The fair value of stock options and performance stock options granted was estimated at the date of grant using the Black-Scholes model with the following weighted average assumptions: Three Months Ended Six Months Ended April 3, March 29, April 3, March 29, Employee Stock Option Plans Expected term (in years) 3.73 3.76 3.74 3.76 Risk-free interest rate 1.4 % 2.5 % 1.5 % 2.6 % Expected volatility 23.5 % 23.6 % 24.6 % 23.1 % Expected dividend — % — % — % — % Weighted average fair value at grant date (1) $ 29.74 $ 29.16 $ 29.60 $ 27.85 (1) Excludes the fair value of the market condition based on relative total shareholder return for the performance stock options granted during the period.
Option Component of ESPP Shares with Weighted Average Assumptions	The option component of employee stock purchase plan shares was estimated at the date of grant using the Black-Scholes model with the following weighted average assumptions: Six Months Ended April 3, March 29, Employee Stock Purchase Plan Expected term (in years) 0.50 0.50 Risk-free interest rate 1.6 % 2.5 % Expected volatility 26.4 % 18.6 % Expected dividend — % — % Weighted average fair value at grant date $ 27.58 $ 22.82
Activity Under Employee Stock Plans	The activity for stock options and performance stock options is summarized as follows: Options Outstanding (In millions, except per share amounts) Number of Weighted Weighted Aggregate Intrinsic Value (1) Balance at September 27, 2019 2.2 $ 97.66 Granted 0.4 140.79 Cancelled or expired — 116.25 Exercised (0.3) 80.34 Balance at April 3, 2020 2.3 $ 106.81 4.6 $ 15.9 Exercisable at April 3, 2020 1.1 $ 88.41 3.4 $ 15.9 (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 VMS common stock of $96.35 as of April 3, 2020, the last trading date of the second quarter of fiscal year 2020, 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.
Activity for Restricted Stock, Restricted Stock Units, Deferred Stock Units and Performance Units	The activity for restricted stock units, deferred stock units and performance units is summarized as follows: (In millions, except per share amounts) Number of Weighted Average Balance at September 27, 2019 0.7 $ 108.35 Granted 0.3 145.08 Vested (0.3) 100.04 Cancelled or expired — 120.64 Balance at April 3, 2020 0.7 $ 130.83

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Apr. 03, 2020
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Earnings (Loss) Per Share	The following table sets forth the computation of basic and diluted net earnings per share: Three Months Ended Six Months Ended (In millions, except per share amounts) April 3, March 29, April 3, March 29, Net earnings $ 43.1 $ 88.4 $ 132.0 $ 192.3 Less: Net earnings (loss) attributable to noncontrolling interests (0.1) (0.2) 0.6 0.5 Net earnings attributable to Varian $ 43.2 $ 88.6 $ 131.4 $ 191.8 Denominator: Weighted average shares outstanding - basic 90.7 91.0 90.8 91.0 Dilutive effect of potential common shares 0.7 0.9 0.8 1.0 Weighted average shares outstanding - diluted 91.4 91.9 91.6 92.0 Net earnings per share attributable to Varian - basic $ 0.48 $ 0.97 $ 1.45 $ 2.11 Net earnings per share attributable to Varian - diluted $ 0.47 $ 0.96 $ 1.43 $ 2.09 Anti-dilutive employee share-based awards, excluded 1.1 0.5 1.1 1.0

PROTON SOLUTIONS LOANS AND IN_2

PROTON SOLUTIONS LOANS AND INVESTMENTS (Tables)	6 Months Ended
	Apr. 03, 2020
Receivables [Abstract]
Loans and Investments to Fund PT Centers	The following table lists the Company's notes receivable, including accrued interest, senior secured debt, available-for-sale securities, loans outstanding and future commitments for funding the development, construction and operation of various proton therapy centers: April 3, 2020 September 27, 2019 (In millions) Balance Commitment Balance Commitment Notes Receivable and Secured Debt: (1) NYPC loan $ 33.1 $ — $ 31.8 $ — RPTC senior secured debt 23.2 — 23.5 — Proton International LLC loan 1.8 — 1.8 — $ 58.1 $ — $ 57.1 $ — Available-For-Sale Securities: (1) MPTC Series B-1 Bonds $ 28.1 $ — $ 27.1 $ — MPTC Series B-2 Bonds 26.2 — 25.1 — APTC securities 6.1 — 6.6 — $ 60.4 $ — $ 58.8 $ — CPTC Loans: Short-term revolving loan (2) $ 5.3 $ 1.9 $ 5.3 $ 1.9 Term loan (3) 4.7 — 45.2 — $ 10.0 $ 1.9 $ 50.5 $ 1.9 (1) Included in other assets at April 3, 2020 and September 27, 2019 on the Company's Condensed Consolidated Balance Sheets, except for amounts related to short-term interest receivable. (2) Included in prepaid and other current assets on the Company's Condensed Consolidated Balance Sheets. (3) Included in prepaid and other current assets at April 3, 2020 and other assets at September 27, 2019 on the Company's Condensed Consolidated Balance Sheets.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Apr. 03, 2020
Segment Reporting [Abstract]
Operating Results Information for Each Business Segment	The following table summarizes select financial results for each reportable segment: Three Months Ended Six Months Ended (In millions) April 3, March 29, April 3, March 29, Revenues Oncology Systems $ 760.5 $ 746.8 $ 1,542.9 $ 1,449.3 Proton Solutions 22.3 32.6 49.9 71.1 Total reportable segments 782.8 779.4 1,592.8 1,520.4 Other 11.7 — 30.6 — Total Company $ 794.5 $ 779.4 $ 1,623.4 $ 1,520.4 Earnings before taxes Oncology Systems $ 110.9 $ 131.7 $ 247.3 $ 255.8 Proton Solutions (14.3) (20.0) (28.6) (28.8) Total reportable segments 96.6 111.7 218.7 227.0 Other (2.3) — 0.5 — Unallocated corporate (39.4) (1.9) (54.3) (5.5) Operating earnings 54.9 109.8 164.9 221.5 Interest income (expense), net (1.2) 3.0 (2.9) 5.7 Other income (expense), net (0.9) 0.2 3.5 23.2 Total Company $ 52.8 $ 113.0 $ 165.5 $ 250.4
Disaggregation of Revenue	The Company disaggregates its revenues from contracts by major product categories, geographic region, and by timing of revenue recognition for each of its reportable operating segments, as the Company believes this best depicts how the nature, amount, timing and uncertainty of revenues and cash flows are affected by economic factors. See details in the tables below. Revenues by Product Type Three Months Ended Six Months Ended Total Revenues by Product Type April 3, March 29, April 3, March 29, (In millions) 2020 2019 2020 2019 Hardware Oncology Systems $ 316.1 $ 339.1 $ 636.1 $ 652.7 Proton Solutions 13.1 27.9 33.2 61.5 Other 11.7 — 30.6 — Total Hardware 340.9 367.0 699.9 714.2 Software (1) Oncology Systems 153.2 144.2 302.0 275.4 Proton Solutions 1.5 — 1.5 — Total Software 154.7 144.2 303.5 275.4 Service Oncology Systems 291.2 263.5 604.8 521.2 Proton Solutions 7.7 4.7 15.2 9.6 Total Service 298.9 268.2 620.0 530.8 Total Revenues $ 794.5 $ 779.4 $ 1,623.4 $ 1,520.4 (1) Includes software support agreements that are recorded in revenues from service, and software licenses that are recorded in revenues from product in the Condensed Consolidated Statements of Earnings. Revenues by Geographical Region Three Months Ended Six Months Ended Total Revenues by Geographical Region April 3, March 29, April 3, March 29, (In millions) 2020 2019 2020 2019 Americas Oncology Systems $ 369.7 $ 357.1 $ 748.6 $ 687.9 Proton Solutions 11.4 14.2 28.3 33.8 Other 6.8 — 13.2 — Total Americas 387.9 371.3 790.1 721.7 EMEA Oncology Systems 240.9 245.3 500.7 479.8 Proton Solutions 9.8 16.2 20.1 32.7 Other 0.2 — 3.0 — Total EMEA 250.9 261.5 523.8 512.5 APAC Oncology Systems 149.9 144.4 293.6 281.6 Proton Solutions 1.1 2.2 1.5 4.6 Other 4.7 — 14.4 — Total APAC 155.7 146.6 309.5 286.2 Total Revenues $ 794.5 $ 779.4 $ 1,623.4 $ 1,520.4 North America (1) Oncology Systems $ 343.9 $ 329.2 $ 699.2 $ 638.3 Proton Solutions 11.5 14.2 28.3 33.8 Other 6.8 — 13.2 — Total North America 362.2 343.4 740.7 672.1 International Oncology Systems 416.6 417.6 843.7 811.0 Proton Solutions 10.8 18.4 21.6 37.3 Other 4.9 — 17.4 — Total International 432.3 436.0 882.7 848.3 Total Revenues $ 794.5 $ 779.4 $ 1,623.4 $ 1,520.4 (1) North America primarily includes the United States and Canada. Revenues by Timing of Revenue Recognition Three Months Ended Six Months Ended Timing of revenue recognition April 3, March 29, April 3, March 29, (In millions) 2020 2019 2020 2019 Products transferred at a point in time Oncology Systems $ 381.0 $ 402.6 $ 763.0 $ 769.2 Proton Solutions 1.5 — 1.5 — Other 11.7 — 30.6 — Total products transferred at a point in time 394.2 402.6 795.1 769.2 Products and services transferred over time Oncology Systems 379.5 344.2 779.9 680.1 Proton Solutions 20.8 32.6 48.4 71.1 Total products and services transferred over time 400.3 376.8 828.3 751.2 Total Revenues $ 794.5 $ 779.4 $ 1,623.4 $ 1,520.4

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	6 Months Ended
	Apr. 03, 2020USD ($)specialty_hospitalcancer_center	Nov. 01, 2019USD ($)	Oct. 31, 2019USD ($)	Sep. 27, 2019USD ($)
Segment Reporting Information [Line Items]
Amount of accessible liquidity	$ 1,300,000,000
Cash and cash equivalents	667,800,000			$ 531,400,000
Revolving Credit Facility
Segment Reporting Information [Line Items]
Loan facility, remaining borrowing capacity	661,000,000
Loan facility, maximum borrowing capacity	$ 1,200,000,000	$ 1,200,000,000	$ 1,800,000,000
India
Segment Reporting Information [Line Items]
Number of cancer centers | cancer_center	12
Number of specialty hospitals | specialty_hospital	1
Sri Lanka
Segment Reporting Information [Line Items]
Number of cancer centers | cancer_center	1

OTHER FINANCIAL INFORMATION - U

OTHER FINANCIAL INFORMATION - Unbilled Receivables and Deferred Revenues from Contracts with Customers (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 03, 2020	Mar. 29, 2019	Apr. 03, 2020	Mar. 29, 2019	Sep. 27, 2019
Other Financial Information [Abstract]
Unbilled receivables - current	$ 276.7		$ 276.7		$ 346.7
Unbilled receivables - long-term	71.6		71.6		35.1
Deferred revenues - current	(798.1)		(798.1)		(766)
Deferred revenues - long-term	(74.1)		(74.1)		(73.1)
Total net unbilled receivables (deferred revenues)	(523.9)		(523.9)		$ (457.3)
Decrease in unbilled receivables			33.5
Increase in deferred revenue			33.1
Recognized revenue included in deferred revenue balance	$ 162.4	$ 167.8	$ 476.9	$ 431.2

OTHER FINANCIAL INFORMATION -_2

OTHER FINANCIAL INFORMATION - Unfulfilled Performance Obligations (Details) $ in Millions	Apr. 03, 2020USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-04
Revenue from Contract with Customer [Abstract]
Unfulfilled Performance Obligations	$ 1,174.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-03
Revenue from Contract with Customer [Abstract]
Unfulfilled Performance Obligations	$ 2,345.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-02
Revenue from Contract with Customer [Abstract]
Unfulfilled Performance Obligations	$ 1,006.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue from Contract with Customer [Abstract]
Unfulfilled Performance Obligations	$ 2,415.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, period

OTHER FINANCIAL INFORMATION - C

OTHER FINANCIAL INFORMATION - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Apr. 03, 2020	Sep. 27, 2019	Mar. 29, 2019	Sep. 28, 2018
Other Financial Information [Abstract]
Cash and cash equivalents	$ 667.8	$ 531.4
Restricted cash - current	4.8	4.2
Restricted cash - long-term	16.4	8.5
Total cash, cash equivalents, and restricted cash	$ 689	$ 544.1	$ 558.9	$ 516.4

OTHER FINANCIAL INFORMATION -_3

OTHER FINANCIAL INFORMATION - Components of Inventories (Details) - USD ($) $ in Millions	Apr. 03, 2020	Sep. 27, 2019
Other Financial Information [Abstract]
Raw materials and parts	$ 412.6	$ 376.5
Work-in-process	80.8	71.8
Finished goods	110.6	103.2
Total inventories	$ 604	$ 551.5

OTHER FINANCIAL INFORMATION -_4

OTHER FINANCIAL INFORMATION - Components of Other Long-Term Liabilities (Details) - USD ($) $ in Millions	Apr. 03, 2020	Sep. 27, 2019
Other Financial Information [Abstract]
Income taxes payable	$ 168.7	$ 180.3
Deferred income taxes	75.4	75.3
Deferred revenues	74.1	73.1
Contingent consideration	34	42.3
Defined benefit pension plan	28.7	31.1
Other	42.2	38
Total other long-term liabilities	$ 423.1	$ 440.1

OTHER FINANCIAL INFORMATION - O

OTHER FINANCIAL INFORMATION - Other Income, Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 03, 2020	Mar. 29, 2019	Apr. 03, 2020	Mar. 29, 2019
Other Financial Information [Abstract]
Gain (loss) on equity investments	$ 0	$ (0.2)	$ 1.4	$ 21.8
Net foreign currency exchange gain (loss)	(1.4)	(0.5)	1	0.8
Other, net	0.5	0.9	1.1	0.6
Total other income (expense), net	$ (0.9)	$ 0.2	$ 3.5	$ 23.2

FAIR VALUE - Assets and Liabili

FAIR VALUE - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	Apr. 03, 2020	Sep. 27, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities	$ 60.4	$ 58.8
Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	3.4	2.8
Total assets measured at fair value	163.8	61.8
Contingent consideration	(75)	(75.3)
Total liabilities measured at fair value	(75)	(75.3)
Fair Value, Measurements, Recurring | MPTC Series B-1 Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities	28.1	27.1
Fair Value, Measurements, Recurring | MPTC Series B-2 Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities	26.2	25.1
Fair Value, Measurements, Recurring | APTC securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities	6.1	6.6
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Instruments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	0	0
Total assets measured at fair value	100	0.2
Contingent consideration	0	0
Total liabilities measured at fair value	0	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Instruments | MPTC Series B-1 Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Instruments | MPTC Series B-2 Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Instruments | APTC securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	3.4	2.8
Total assets measured at fair value	63.8	61.6
Contingent consideration	0	0
Total liabilities measured at fair value	0	0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs | MPTC Series B-1 Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities	28.1	27.1
Fair Value, Measurements, Recurring | Significant Other Observable Inputs | MPTC Series B-2 Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities	26.2	25.1
Fair Value, Measurements, Recurring | Significant Other Observable Inputs | APTC securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities	6.1	6.6
Fair Value, Measurements, Recurring | Significant Unobservable Inputs
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	0	0
Total assets measured at fair value	0	0
Contingent consideration	(75)	(75.3)
Total liabilities measured at fair value	(75)	(75.3)
Fair Value, Measurements, Recurring | Significant Unobservable Inputs | MPTC Series B-1 Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs | MPTC Series B-2 Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs | APTC securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Money market funds | Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	100	0.2
Money market funds | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Instruments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	100	0.2
Money market funds | Fair Value, Measurements, Recurring | Significant Other Observable Inputs
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Money market funds | Fair Value, Measurements, Recurring | Significant Unobservable Inputs
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	$ 0

FAIR VALUE - Additional Informa

FAIR VALUE - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 03, 2020	Mar. 29, 2019	Apr. 03, 2020	Mar. 29, 2019	Sep. 27, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment charge	$ 40.5	$ 0	$ 40.5	$ 0
Equity investments in privately-held companies	56.4		56.4		$ 64.2
Notes Receivable
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Long-term notes receivable	34.9		34.9		33.6
C P T C
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment charge	40.5
C P T C | Term Loan
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value of financing receivable	$ 4.7		$ 4.7		$ 45.2
Minimum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative, term of contract			1 month
Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative, term of contract			15 months

FAIR VALUE - Reconciliation for

FAIR VALUE - Reconciliation for Assets and Liabilities Measured and Recorded at Fair Value on Recurring Basis (Details) - Fair Value, Measurements, Recurring - Contingent Consideration $ in Millions	6 Months Ended
	Apr. 03, 2020USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ (75.3)
Adjustments due to the effect of foreign exchange	0.2
Change in fair value recognized in earnings	0.1
Ending balance	$ (75)

RECEIVABLES (Details)

RECEIVABLES (Details) - USD ($) $ in Millions	Apr. 03, 2020	Sep. 27, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade and unbilled receivables, gross	$ 1,131.2	$ 1,193.5
Allowance for doubtful accounts	(48.9)	(46.5)
Trade and unbilled receivables, net	1,082.3	1,147
Short-term	1,004.8	1,106.3
Long-term	77.5	40.7
Notes Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Long-term notes receivable	$ 34.9	$ 33.6

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Activity of Goodwill by Reportable Operating Segment (Details) - USD ($) $ in Millions	6 Months Ended
	Apr. 03, 2020	Sep. 27, 2019
Goodwill [Roll Forward]
Beginning balance	$ 612.2
Business combination	2.6
Measurement period adjustments to business combinations in prior year	(0.1)
Ending balance	614.7
Oncology Systems
Goodwill [Roll Forward]
Beginning balance	447.9
Business combination	2.6
Measurement period adjustments to business combinations in prior year	(0.1)
Ending balance	450.4
Other
Goodwill [Roll Forward]
Beginning balance	164.3
Business combination	0
Measurement period adjustments to business combinations in prior year	0
Ending balance	164.3
Proton Solutions
Goodwill [Roll Forward]
Accumulated impairment charges	$ 50.5	$ 50.5

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 03, 2020	Mar. 29, 2019	Apr. 03, 2020	Mar. 29, 2019	Sep. 27, 2019
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 614.7		$ 614.7		$ 612.2
Amortization expense for intangible assets			19.7	$ 11.4
Interventional Solutions
Finite-Lived Intangible Assets [Line Items]
Goodwill	164.3		164.3
Fair value in excess of carrying value, amount	$ 20		$ 20
Fair value in excess of carrying value, percent	7.00%		7.00%
Continuing Operations
Finite-Lived Intangible Assets [Line Items]
Amortization expense for intangible assets	$ 9.5	$ 6.7	$ 19.6	$ 11.4

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Gross Carrying Amount and Accumulated Amortization of Intangible Assets (Details) - USD ($) $ in Millions	Apr. 03, 2020	Sep. 27, 2019
Finite Lived Intangible Assets [Line Items]
Finite lived intangible assets, gross	$ 409.2	$ 408.7
Accumulated Amortization	(139.9)	(120.7)
Net Carrying Amount	269.3	288
In-process research and development with indefinite lives	12.3	12.7
Total intangible assets	421.5	421.4
Total intangible assets, net	281.6	300.7
Technologies and patents
Finite Lived Intangible Assets [Line Items]
Finite lived intangible assets, gross	226.9	226.4
Accumulated Amortization	(98.4)	(85.9)
Net Carrying Amount	128.5	140.5
Customer contracts, supplier relationships, and partner relationships
Finite Lived Intangible Assets [Line Items]
Finite lived intangible assets, gross	121.1	121.1
Accumulated Amortization	(30.4)	(25.7)
Net Carrying Amount	90.7	95.4
Trade names
Finite Lived Intangible Assets [Line Items]
Finite lived intangible assets, gross	55.1	55.1
Accumulated Amortization	(5)	(3)
Net Carrying Amount	50.1	52.1
Other
Finite Lived Intangible Assets [Line Items]
Finite lived intangible assets, gross	6.1	6.1
Accumulated Amortization	(6.1)	(6.1)
Net Carrying Amount	$ 0	$ 0

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS - Future Amortization Expense (Details) - USD ($) $ in Millions	Apr. 03, 2020	Sep. 27, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2020	$ 18.5
2021	35.6
2022	33.8
2023	32.8
2024	25.7
Thereafter	122.9
Net Carrying Amount	$ 269.3	$ 288

BORROWINGS - Schedule of Debt (

BORROWINGS - Schedule of Debt (Details) - USD ($) $ in Millions	Apr. 03, 2020	Sep. 27, 2019
Short-term borrowings:
Short-term borrowings	$ 520	$ 410
Total short-term borrowings	520	410
Revolving Credit Facility
Short-term borrowings:
Short-term borrowings	$ 520	$ 410
Weighted-Average Interest Rate	2.05%	3.05%

BORROWINGS - Additional Informa

BORROWINGS - Additional Information (Details)	Nov. 01, 2019USD ($)	Apr. 03, 2020JPY (¥)	Apr. 03, 2020USD ($)	Oct. 31, 2019USD ($)
Revolving Credit Facility
Line Of Credit Facility [Line Items]
Credit facility, term	5 years	5 years
Loan facility, maximum borrowing capacity	$ 1,200,000,000		$ 1,200,000,000	$ 1,800,000,000
Additional maximum commitment amount	100,000,000
Revolving Credit Facility | Minimum
Line Of Credit Facility [Line Items]
Commitment fee (as a percent)		0.10%
Revolving Credit Facility | Maximum
Line Of Credit Facility [Line Items]
Commitment fee (as a percent)		0.225%
Revolving Credit Facility | Eurodollar
Line Of Credit Facility [Line Items]
Debt instrument, contract repayment term		12 months
Revolving Credit Facility | Eurodollar | Minimum
Line Of Credit Facility [Line Items]
Line of credit, basis spread on variable rate (as a percent)		1.00%
Revolving Credit Facility | Eurodollar | Maximum
Line Of Credit Facility [Line Items]
Line of credit, basis spread on variable rate (as a percent)		1.375%
Revolving Credit Facility | Federal Funds Rate
Line Of Credit Facility [Line Items]
Line of credit, basis spread on variable rate (as a percent)		0.50%
Revolving Credit Facility | Eurodollar Rate plus 1%
Line Of Credit Facility [Line Items]
Percentage added to Eurodollar base rate before margin (as a percent)		1.00%
Revolving Credit Facility | Eurodollar Rate plus 1% | Minimum
Line Of Credit Facility [Line Items]
Line of credit, basis spread on variable rate (as a percent)		0.00%
Revolving Credit Facility | Eurodollar Rate plus 1% | Maximum
Line Of Credit Facility [Line Items]
Line of credit, basis spread on variable rate (as a percent)		0.375%
Sumitomo Credit Facility
Line Of Credit Facility [Line Items]
Loan facility, maximum borrowing capacity | ¥		¥ 3,000,000,000
Line of credit, basis spread on variable rate (as a percent)		0.50%
Outstanding principal balance | ¥		¥ 0
Multi-currency Borrowings | Revolving Credit Facility
Line Of Credit Facility [Line Items]
Loan facility, maximum borrowing capacity	500,000,000
Letter of Credit | Revolving Credit Facility
Line Of Credit Facility [Line Items]
Loan facility, maximum borrowing capacity	225,000,000			$ 50,000,000
Swing Line Loans | Revolving Credit Facility
Line Of Credit Facility [Line Items]
Loan facility, maximum borrowing capacity	$ 25,000,000

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Derivative Instruments Reported on the Balance Sheet (Details) - Foreign currency forward contracts - Designated as Hedging Instrument - USD ($) $ in Millions	Apr. 03, 2020	Sep. 27, 2019
Derivatives, Fair Value [Line Items]
Total derivatives	$ 3.4	$ 2.8
Prepaid Expenses and Other Current Assets
Derivatives, Fair Value [Line Items]
Total derivatives	$ 3.4	$ 2.8

DERIVATIVE INSTRUMENTS AND HE_4

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Cash Flow Hedging Activities (Details) - Cash Flow Hedging - Designated as Hedging Instrument - Foreign currency forward contracts - USD ($) $ in Millions	Apr. 03, 2020	Sep. 27, 2019
Derivative [Line Items]
Notional Value Sold	$ 76.1	$ 133.2
Euro
Derivative [Line Items]
Notional Value Sold	45.7	76.5
Japanese Yen
Derivative [Line Items]
Notional Value Sold	$ 30.4	$ 56.7

DERIVATIVE INSTRUMENTS AND HE_5

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Pre-tax amounts Recognized in AOCI on the Balance Sheet (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 03, 2020	Mar. 29, 2019	Apr. 03, 2020	Mar. 29, 2019
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Net unrealized gain on derivatives, before tax			$ 3.4
Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain Recognized in Other Comprehensive Earnings (Loss)	$ 2.7	$ 0	$ 2.6	$ 0

DERIVATIVE INSTRUMENTS AND HE_6

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Effective Portion of Foreign Currency Forward Contracts Designated as Cash Flow Hedges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 03, 2020	Mar. 29, 2019	Apr. 03, 2020	Mar. 29, 2019
Derivative [Line Items]
Amount of gain reclassified from accumulated other comprehensive loss into net earnings	$ 0.9	$ 0	$ 1.5	$ 0
Revenues
Derivative [Line Items]
Total amounts of income and expense line items presented in the Condensed Consolidated Statements of Earnings in which the effects of fair value and cash flow hedges are recorded	794.5		1,623.4
Amount of gain reclassified from accumulated other comprehensive loss into net earnings	$ 1.1	$ 0	$ 1.9	$ 0

DERIVATIVE INSTRUMENTS AND HE_7

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Outstanding Foreign Currency Forward Contracts that Were Entered into to Hedge Balance Sheet Exposures (Details) - Derivatives Not Designated as Hedging Instrument - Foreign currency forward contracts - USD ($) $ in Millions	Apr. 03, 2020	Sep. 27, 2019
Notional value sold
Derivative [Line Items]
Notional amount	$ 382.8	$ 385
Notional value purchased
Derivative [Line Items]
Notional amount	$ 105.9	$ 52.3

DERIVATIVE INSTRUMENTS AND HE_8

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Gains (Losses) Related to Foreign Currency Forward Exchange Contracts that are Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 03, 2020	Mar. 29, 2019	Apr. 03, 2020	Mar. 29, 2019
Derivatives Not Designated as Hedging Instrument | Foreign currency forward contracts | Other income (expense), net
Derivative [Line Items]
Amount of Gain Recognized in Net Earnings on Derivative Instruments	$ 23.2	$ 3.6	$ 18.2	$ 6.4

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Accrued Product Warranty (Details) - USD ($) $ in Millions	6 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Accrued product warranty, at beginning of period	$ 43.1	$ 44.8
Charged to cost of revenues	33.4	27.7
Actual product warranty expenditures	(33.3)	(25.7)
Accrued product warranty, at end of period	$ 43.2	$ 46.8

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) $ in Millions	Oct. 16, 2018patent	Apr. 03, 2020USD ($)	Mar. 29, 2019USD ($)	Apr. 03, 2020USD ($)	Mar. 29, 2019USD ($)	Sep. 27, 2019USD ($)
Commitments And Contingencies [Line Items]
Minimum rentals under non-cancellable operating leases, 2020						$ 32.5
Minimum rentals under non-cancellable operating leases, 2021						26.3
Minimum rentals under non-cancellable operating leases, 2022						20.2
Minimum rentals under non-cancellable operating leases, 2023						14.5
Minimum rentals under non-cancellable operating leases, 2024						10.9
Minimum rentals under non-cancellable operating leases, thereafter						49.9
Lessor, term of operating leases		15 years		15 years
Rental income		$ 2.1	$ 2.1	$ 4.6	$ 4.2
Accrued environmental remediation expense		4.5		$ 4.5		4.8
Minimum
Commitments And Contingencies [Line Items]
Operating lease, remaining lease term				1 year
Finance lease, remaining lease term				1 year
Maximum
Commitments And Contingencies [Line Items]
Operating lease, remaining lease term				21 years
Finance lease, remaining lease term				7 years
Equipment
Commitments And Contingencies [Line Items]
Equipment leased to customers included in PP&E		23.5		$ 23.5
Accumulated depreciation on equipment leased to customers, included in PP&E		7.5		7.5
Leased equipment						22.5
Accumulated depreciation on leased equipment						$ 5.5
Threatened Litigation | Best Medical International, Inc. Litigation
Commitments And Contingencies [Line Items]
Number of patents allegedly infringed | patent	4
Estimated litigation accrual		$ 0		$ 0

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Leases (Details) $ in Millions	3 Months Ended	6 Months Ended
	Apr. 03, 2020USD ($)	Apr. 03, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 7.6	$ 15.4
Finance lease cost:
Amortization of right-of-use assets	0.2	0.3
Interest on lease liabilities	0.2	0.3
Variable lease cost	4.2	8.7
Total lease cost	12.2	24.7
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for leases		16.6
Operating leases:
Operating right-of-use assets	123.8	123.8
Accrued liabilities	24.4	24.4
Long-term lease liabilities	100.4	100.4
Total lease liabilities	124.8	124.8
Finance leases:
Property, plant, and equipment, net	12.8	12.8
Accrued liabilities	3.5	3.5
Other long-term liabilities	9.2	9.2
Total lease liabilities	$ 12.7	$ 12.7
Weighted average remaining lease term - operating leases	7 years 6 months	7 years 6 months
Weighted average remaining lease term - finance leases	4 years 7 months 6 days	4 years 7 months 6 days
Weighted average discount rate - operating leases (percent)	5.00%	5.00%
Weighted average discount rate - finance leases (percent)	4.00%	4.00%
Operating Leases
Remainder of 2020	$ 15	$ 15
2021	28	28
2022	22.4	22.4
2023	17.6	17.6
2024	13.3	13.3
Thereafter	63.6	63.6
Total minimum lease payments	159.9	159.9
Less: imputed interest	35.1	35.1
Finance leases
Remainder of 2020	1.8	1.8
2021	3.3	3.3
2022	2.8	2.8
2023	2.8	2.8
2024	1.1	1.1
Thereafter	2	2
Total minimum lease payments	13.8	13.8
Less: imputed interest	$ 1.1	$ 1.1

RETIREMENT PLANS (Details)

RETIREMENT PLANS (Details) - Defined Benefit Plans - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 03, 2020	Mar. 29, 2019	Apr. 03, 2020	Mar. 29, 2019
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2.6	$ 1.8	$ 5.1	$ 3.6
Interest cost	0.5	1	1	1.9
Expected return on plan assets	(2)	(1.6)	(3.9)	(3.2)
Amortization of prior service cost	(0.2)	(0.2)	(0.4)	(0.4)
Recognized actuarial loss	1.1	0.5	2.2	1.1
Net periodic benefit cost	$ 2	$ 1.5	$ 4	$ 3

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 03, 2020	Mar. 29, 2019	Apr. 03, 2020	Mar. 29, 2019
Income Tax Disclosure [Abstract]
Effective tax rate	18.50%	21.70%	20.20%	23.20%
Change to fair value of contingent consideration liability	$ (8.2)
Tax effect of release of contingent consideration	$ 0

STOCKHOLDERS' EQUITY - Addition

STOCKHOLDERS' EQUITY - Additional Information (Details) - November 2016 - shares	Apr. 03, 2020	Nov. 30, 2016
Stockholders’ equity and noncontrolling interests [Line Items]
Number of shares authorized by VMS Board of Directors to be repurchased		8,000,000
Remaining authorization	1,600,000

STOCKHOLDERS' EQUITY - Shares R

STOCKHOLDERS' EQUITY - Shares Repurchased During Period (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Apr. 03, 2020	Mar. 29, 2019	Apr. 03, 2020	Mar. 29, 2019
Equity [Abstract]
Number of shares (in shares)	0.3	0.4	0.6	0.7
Average repurchase price per share (in dollars per share)	$ 126.01	$ 120.89	$ 133.02	$ 115.71
Total cost of shares repurchased	$ 39.8	$ 50.8	$ 86.2	$ 85.6

STOCKHOLDERS' EQUITY - Schedule

STOCKHOLDERS' EQUITY - Schedule of Accumulated Other Comprehensive Earnings (Loss) and Related Tax Effects (Details) - USD ($) $ in Millions	6 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period	$ 1,777.6	$ 1,588.7
Balance at end of period	1,870.7	1,740.1
Net Unrealized Gains (Losses) Defined Benefit Pension and Post-Retirement Benefit Plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period	(61.7)	(35.2)
Other comprehensive earnings (loss) before reclassifications	0	0
Amounts reclassified out of other comprehensive earnings (loss)	1.7	0.7
Tax expense	(0.2)	(0.1)
Balance at end of period	(60.2)	(34.6)
Net Unrealized Gains (Losses) Cash Flow Hedging Instruments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period	2.1
Other comprehensive earnings (loss) before reclassifications	2.6
Amounts reclassified out of other comprehensive earnings (loss)	(1.9)
Tax expense	(0.2)
Balance at end of period	2.6
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period	(42.5)	(30.1)
Other comprehensive earnings (loss) before reclassifications	(1.7)	(7.1)
Amounts reclassified out of other comprehensive earnings (loss)	0	0
Tax expense	0	0
Balance at end of period	(44.2)	(37.2)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period	(102.1)	(65.3)
Other comprehensive earnings (loss) before reclassifications	0.9	(7.1)
Amounts reclassified out of other comprehensive earnings (loss)	(0.2)	0.7
Tax expense	(0.4)	(0.1)
Balance at end of period	$ (101.8)	$ (71.8)

STOCKHOLDERS' EQUITY - Schedu_2

STOCKHOLDERS' EQUITY - Schedule of Amounts Reclassified Out of Other Comprehensive Earnings (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 03, 2020	Mar. 29, 2019	Apr. 03, 2020	Mar. 29, 2019
Reclassification Adjustment Out Of Accumulated Comprehensive Income [Line Items]
Operating earnings	$ 54.9	$ 109.8	$ 164.9	$ 221.5
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment Out Of Accumulated Comprehensive Income [Line Items]
Operating earnings	0.3	(0.3)	0.2	(0.7)
Reclassification out of Accumulated Other Comprehensive Income | Unrealized loss on defined benefit pension and post-retirement benefit plans
Reclassification Adjustment Out Of Accumulated Comprehensive Income [Line Items]
Other income (expense), net	(0.8)	(0.3)	(1.7)	(0.7)
Reclassification out of Accumulated Other Comprehensive Income | Unrealized earnings on cash flow hedging instruments
Reclassification Adjustment Out Of Accumulated Comprehensive Income [Line Items]
Revenues	$ 1.1	$ 0	$ 1.9	$ 0

EMPLOYEE STOCK PLANS - Net Shar

EMPLOYEE STOCK PLANS - Net Share-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 03, 2020	Mar. 29, 2019	Apr. 03, 2020	Mar. 29, 2019
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 11.3	$ 12.5	$ 26.2	$ 23
Income tax benefit for share-based compensation	(2.1)	(2.2)	(5)	(4.5)
Cost of revenues - Product
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	0.9	0.8	1.7	1.5
Cost of revenues - Service
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	1.2	1	2.5	2.1
Research and development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	1.5	1.1	2.7	2.2
Selling, general and administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 7.7	$ 9.6	$ 19.3	$ 17.2

EMPLOYEE STOCK PLANS - Fair Val

EMPLOYEE STOCK PLANS - Fair Value with Weighted Average Assumptions (Details) - $ / shares	3 Months Ended		6 Months Ended
	Apr. 03, 2020	Mar. 29, 2019	Apr. 03, 2020	Mar. 29, 2019
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term			6 months	6 months
Risk-free interest rate			1.60%	2.50%
Expected volatility			26.40%	18.60%
Expected dividend			0.00%	0.00%
Weighted average fair value at grant date (dollars per share)			$ 27.58	$ 22.82
Employee Stock Option Plans
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term	3 years 8 months 23 days	3 years 9 months 3 days	3 years 8 months 26 days	3 years 9 months 3 days
Risk-free interest rate	1.40%	2.50%	1.50%	2.60%
Expected volatility	23.50%	23.60%	24.60%	23.10%
Expected dividend	0.00%	0.00%	0.00%	0.00%
Weighted average fair value at grant date (dollars per share)	$ 29.74	$ 29.16	$ 29.60	$ 27.85

EMPLOYEE STOCK PLANS - Activity

EMPLOYEE STOCK PLANS - Activity Under Employee Stock Plans (Details) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Apr. 03, 2020USD ($)$ / sharesshares
Number of Shares
Balance at beginning of period (in shares) | shares	2.2
Granted (in shares) | shares	0.4
Cancelled or expired (in shares) | shares	0
Exercised (in shares) | shares	(0.3)
Balance at end of period (in shares) | shares	2.3
Exercisable (in shares) | shares	1.1
Weighted Average Exercise Price
Balance at beginning of period (in dollars per share)	$ 97.66
Granted (in dollars per share)	140.79
Cancelled or expired (in dollars per share)	116.25
Exercised (in dollars per share)	80.34
Balance at end of period (in dollars per share)	106.81
Exercisable (in dollars per share)	$ 88.41
Weighted Average Remaining Term (in years)
Outstanding (term)	4 years 7 months 6 days
Exercisable (term)	3 years 4 months 24 days
Aggregate Intrinsic Value
Outstanding | $	$ 15.9
Exercisable | $	$ 15.9
Share price (in dollars per share)	$ 96.35

EMPLOYEE STOCK PLANS - Addition

EMPLOYEE STOCK PLANS - Additional Information (Details) $ in Millions	6 Months Ended
	Apr. 03, 2020USD ($)
Stock options and performance stock options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense related to outstanding stock awards	$ 23.3
Weighted average period for recognition	2 years 1 month 6 days
Cash-settled stock appreciation rights
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense related to outstanding stock awards	$ 0.3
Weighted average period for recognition	2 years 6 months
Restricted stock units, deferred stock units and performance units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense related to outstanding stock awards	$ 64.9
Weighted average period for recognition	2 years 1 month 6 days

EMPLOYEE STOCK PLANS - Activi_2

EMPLOYEE STOCK PLANS - Activity for Restricted Stock, Restricted Stock Units, Deferred Stock Units and Performance Units (Details) shares in Millions	6 Months Ended
	Apr. 03, 2020$ / sharesshares
Number of Shares
Balance at beginning of period (in shares) | shares	0.7
Granted (in shares) | shares	0.3
Vested (in shares) | shares	(0.3)
Cancelled or expired (in shares) | shares	0
Balance at end of period (in shares) | shares	0.7
Weighted Average Grant-Date Fair Value
Balance at beginning of period (in dollars per share) | $ / shares	$ 108.35
Granted (in dollars per share) | $ / shares	145.08
Vested (in dollars per share) | $ / shares	100.04
Cancelled or expired (in dollars per share) | $ / shares	120.64
Balance at end of period (in dollars per share) | $ / shares	$ 130.83

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Apr. 03, 2020	Mar. 29, 2019	Apr. 03, 2020	Mar. 29, 2019
Earnings Per Share [Abstract]
Net earnings	$ 43.1	$ 88.4	$ 132	$ 192.3
Less: Net earnings (loss) attributable to noncontrolling interests	(0.1)	(0.2)	0.6	0.5
Net earnings attributable to Varian	$ 43.2	$ 88.6	$ 131.4	$ 191.8
Weighted average shares outstanding - basic (in shares)	90.7	91	90.8	91
Dilutive effect of potential common shares (in shares)	0.7	0.9	0.8	1
Weighted average shares outstanding - diluted (in shares)	91.4	91.9	91.6	92
Net earnings per share attributable to Varian - basic (in dollars per share)	$ 0.48	$ 0.97	$ 1.45	$ 2.11
Net earnings per share attributable to Varian - diluted (in dollars per share)	$ 0.47	$ 0.96	$ 1.43	$ 2.09
Anti-dilutive employee shared based awards, excluded (in shares)	1.1	0.5	1.1	1

PROTON SOLUTIONS LOANS AND IN_3

PROTON SOLUTIONS LOANS AND INVESTMENTS - Loans and Commitments (Details) - USD ($) $ in Millions	Apr. 03, 2020	Sep. 27, 2019	Dec. 06, 2017
Long-term notes receivable and Available-for-sale Securities [Line Items]
Available-for-sale securities	$ 60.4	$ 58.8
Commitment	0	0
Loans Receivable
Long-term notes receivable and Available-for-sale Securities [Line Items]
Notes receivable and secured debt	58.1	57.1
Commitment	0	0
NYPC loan | Loans Receivable
Long-term notes receivable and Available-for-sale Securities [Line Items]
Long-term	33.1	31.8
Commitment	0	0
RPTC senior secured debt | Loans Receivable
Long-term notes receivable and Available-for-sale Securities [Line Items]
Short-term	23.2	23.5
Commitment	0	0
Proton International LLC loan | Loans Receivable
Long-term notes receivable and Available-for-sale Securities [Line Items]
Long-term	1.8	1.8
Commitment	0	0
MPTC Series B-1 Bonds
Long-term notes receivable and Available-for-sale Securities [Line Items]
Available-for-sale securities	28.1	27.1
Commitment to fund bond	0	0
MPTC Series B-2 Bonds
Long-term notes receivable and Available-for-sale Securities [Line Items]
Available-for-sale securities	26.2	25.1
Commitment to fund bond	0	0
APTC securities
Long-term notes receivable and Available-for-sale Securities [Line Items]
Available-for-sale securities	6.1	6.6
Commitment	0	0
C P T C
Long-term notes receivable and Available-for-sale Securities [Line Items]
Loans and Investments	10	50.5
Commitment	1.9	1.9
C P T C | Loans Receivable
Long-term notes receivable and Available-for-sale Securities [Line Items]
Term loan			$ 112
C P T C | Revolving Loan
Long-term notes receivable and Available-for-sale Securities [Line Items]
Short-term revolving loan	5.3	5.3
Commitment	1.9	1.9
C P T C | Term Loan
Long-term notes receivable and Available-for-sale Securities [Line Items]
Term loan	4.7	45.2
Commitment	$ 0	$ 0

PROTON SOLUTIONS LOANS AND IN_4

PROTON SOLUTIONS LOANS AND INVESTMENTS - Additional Information (Details) € in Millions	Dec. 06, 2017USD ($)tranche	Jul. 31, 2015USD ($)	Dec. 31, 2017USD ($)	Jul. 31, 2017EUR (€)	Jul. 31, 2017USD ($)	Apr. 03, 2020USD ($)	Apr. 03, 2020USD ($)	Sep. 29, 2017USD ($)	Jan. 01, 2022USD ($)	Sep. 27, 2019USD ($)	May 01, 2019	Mar. 31, 2017USD ($)	Jun. 30, 2016USD ($)
Variable Interest Entity [Line Items]
Fair Value						$ 60,400,000	$ 60,400,000			$ 58,800,000
APTC securities
Variable Interest Entity [Line Items]
Payments to acquire available-for-sale securities			$ 6,000,000
Interest rate (as a percent)						8.50%	8.50%
Trade and unbilled receivables						$ 5,800,000	$ 5,800,000
Long-term trade receivables, net						6,400,000	6,400,000			2,100,000
Fair Value						6,100,000	6,100,000			6,600,000
RPTC Securities
Variable Interest Entity [Line Items]
Right to claims against assets | €				€ 77
Long-term trade receivables, net						4,200,000	4,200,000			4,600,000
New York Proton Center
Variable Interest Entity [Line Items]
Trade and unbilled receivables						6,500,000	6,500,000			6,000,000
Long-term trade receivables, net						19,100,000	19,100,000			16,600,000
MPTC loans
Variable Interest Entity [Line Items]
Long-term trade receivables, net						0	0			0
C P T C
Variable Interest Entity [Line Items]
Long-term trade receivables, net						2,900,000	2,900,000			2,600,000
Impairment charges						40,500,000		$ 51,400,000
Liabilities assumed by lenders	$ 112,000,000
Equity ownership interest (percent)	47.08%
Value of impaired loan receivable						10,000,000	10,000,000
Varian Medical Systems, Inc. | C P T C
Variable Interest Entity [Line Items]
Additional financing												$ 7,300,000
Loans Receivable | Proton Center, Munich
Variable Interest Entity [Line Items]
Payments to acquire outstanding senior debt				€ 21.5	$ 24,500,000
Loans Receivable | NYPC loan
Variable Interest Entity [Line Items]
Maximum lending commitment		$ 91,500,000
Long-term						33,100,000	33,100,000			31,800,000
Loans Receivable | C P T C
Variable Interest Entity [Line Items]
Modified former loans receivable	$ 112,000,000
Senior First Lien Loan | NYPC loan
Variable Interest Entity [Line Items]
Maximum lending commitment													$ 73,000,000
Senior Subordinated Loans | NYPC loan
Variable Interest Entity [Line Items]
Interest rate (as a percent)		13.50%									10.00%
Maximum lending commitment		$ 18,500,000
Lending term		6 years 6 months
Long-term						33,100,000	33,100,000
Term Loan | C P T C
Variable Interest Entity [Line Items]
Modified former loans receivable						$ 4,700,000	$ 4,700,000			45,200,000
Credit facility, term	3 years
Term Loan | Varian Medical Systems, Inc. | C P T C
Variable Interest Entity [Line Items]
Modified former loans receivable	$ 53,500,000
Number of tranches | tranche	4
Paid-in-kind interest receivable (percent)						7.50%	7.50%
Term Loan | Varian Medical Systems, Inc. | C P T C | Tranche A loan
Variable Interest Entity [Line Items]
Modified former loans receivable	$ 2,000,000
Interest receivable, default rate (percent)							9.50%
Term Loan | Varian Medical Systems, Inc. | C P T C | Tranche B loan
Variable Interest Entity [Line Items]
Modified former loans receivable	7,200,000
Paid-in-kind interest receivable (percent)						10.00%	10.00%
Interest receivable, default rate (percent)							12.00%
Term Loan | Varian Medical Systems, Inc. | C P T C | Tranche C Loans
Variable Interest Entity [Line Items]
Modified former loans receivable	15,600,000
Interest receivable, default rate (percent)							9.50%
Term Loan | Varian Medical Systems, Inc. | C P T C | Tranche D Loans
Variable Interest Entity [Line Items]
Modified former loans receivable	$ 28,700,000
Interest receivable, default rate (percent)							9.50%
Revolving Loan | C P T C
Variable Interest Entity [Line Items]
Loans funded						$ 5,300,000	$ 5,300,000			$ 5,300,000
Available-for-sale Securities | MPTC Series B-2 Bonds
Variable Interest Entity [Line Items]
Interest rate (as a percent)						8.50%	8.50%
Available-for-sale Securities | MPTC Series B-1 Bonds
Variable Interest Entity [Line Items]
Interest rate (as a percent)						7.50%	7.50%
Forecast | Available-for-sale Securities | MPTC Series B-2 Bonds
Variable Interest Entity [Line Items]
Fair Value									$ 33,900,000
Forecast | Available-for-sale Securities | MPTC Series B-1 Bonds
Variable Interest Entity [Line Items]
Fair Value									$ 32,000,000
Revolving Loan | Loans Receivable | C P T C
Variable Interest Entity [Line Items]
Credit facility, term							1 year
Loan facility, maximum lending commitment							$ 15,000,000
Revolving Loan | Loans Receivable | Varian Medical Systems, Inc. | C P T C
Variable Interest Entity [Line Items]
Loan facility, maximum lending commitment							$ 7,200,000

SEGMENT INFORMATION - Additiona

SEGMENT INFORMATION - Additional Information (Details)	6 Months Ended
	Apr. 03, 2020specialty_hospitalcancer_centersegment
Segment Reporting Information [Line Items]
Number of segments | segment	2
India
Segment Reporting Information [Line Items]
Number of cancer centers	12
Number of specialty hospitals | specialty_hospital	1
Sri Lanka
Segment Reporting Information [Line Items]
Number of cancer centers	1

SEGMENT INFORMATION - Operating

SEGMENT INFORMATION - Operating Results Information for Each Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 03, 2020	Mar. 29, 2019	Apr. 03, 2020	Mar. 29, 2019
Segment Reporting Information [Line Items]
Revenues	$ 794.5	$ 779.4	$ 1,623.4	$ 1,520.4
Earnings before taxes	54.9	109.8	164.9	221.5
Interest income (expense), net	(1.2)	3	(2.9)	5.7
Other income (expense), net	(0.9)	0.2	3.5	23.2
Earnings before taxes	52.8	113	165.5	250.4
Unallocated corporate
Segment Reporting Information [Line Items]
Earnings before taxes	(39.4)	(1.9)	(54.3)	(5.5)
Operating Segments
Segment Reporting Information [Line Items]
Revenues	782.8	779.4	1,592.8	1,520.4
Earnings before taxes	96.6	111.7	218.7	227
Operating Segments | Oncology Systems
Segment Reporting Information [Line Items]
Revenues	760.5	746.8	1,542.9	1,449.3
Earnings before taxes	110.9	131.7	247.3	255.8
Operating Segments | Proton Solutions
Segment Reporting Information [Line Items]
Revenues	22.3	32.6	49.9	71.1
Earnings before taxes	(14.3)	(20)	(28.6)	(28.8)
Operating Segments | Other
Segment Reporting Information [Line Items]
Revenues	11.7	0	30.6	0
Earnings before taxes	$ (2.3)	$ 0	$ 0.5	$ 0

SEGMENT INFORMATION - Disaggreg

SEGMENT INFORMATION - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 03, 2020	Mar. 29, 2019	Apr. 03, 2020	Mar. 29, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 794.5	$ 779.4	$ 1,623.4	$ 1,520.4
Products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	394.2	402.6	795.1	769.2
Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	400.3	376.8	828.3	751.2
Americas
Disaggregation of Revenue [Line Items]
Revenues	387.9	371.3	790.1	721.7
EMEA
Disaggregation of Revenue [Line Items]
Revenues	250.9	261.5	523.8	512.5
APAC
Disaggregation of Revenue [Line Items]
Revenues	155.7	146.6	309.5	286.2
North America
Disaggregation of Revenue [Line Items]
Revenues	362.2	343.4	740.7	672.1
International
Disaggregation of Revenue [Line Items]
Revenues	432.3	436	882.7	848.3
Hardware
Disaggregation of Revenue [Line Items]
Revenues	340.9	367	699.9	714.2
Software
Disaggregation of Revenue [Line Items]
Revenues	154.7	144.2	303.5	275.4
Service
Disaggregation of Revenue [Line Items]
Revenues	298.9	268.2	620	530.8
Oncology Systems | Products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	381	402.6	763	769.2
Oncology Systems | Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	379.5	344.2	779.9	680.1
Oncology Systems | Americas
Disaggregation of Revenue [Line Items]
Revenues	369.7	357.1	748.6	687.9
Oncology Systems | EMEA
Disaggregation of Revenue [Line Items]
Revenues	240.9	245.3	500.7	479.8
Oncology Systems | APAC
Disaggregation of Revenue [Line Items]
Revenues	149.9	144.4	293.6	281.6
Oncology Systems | North America
Disaggregation of Revenue [Line Items]
Revenues	343.9	329.2	699.2	638.3
Oncology Systems | International
Disaggregation of Revenue [Line Items]
Revenues	416.6	417.6	843.7	811
Oncology Systems | Hardware
Disaggregation of Revenue [Line Items]
Revenues	316.1	339.1	636.1	652.7
Oncology Systems | Software
Disaggregation of Revenue [Line Items]
Revenues	153.2	144.2	302	275.4
Oncology Systems | Service
Disaggregation of Revenue [Line Items]
Revenues	291.2	263.5	604.8	521.2
Proton Solutions | Products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	1.5	0	1.5	0
Proton Solutions | Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	20.8	32.6	48.4	71.1
Proton Solutions | Americas
Disaggregation of Revenue [Line Items]
Revenues	11.4	14.2	28.3	33.8
Proton Solutions | EMEA
Disaggregation of Revenue [Line Items]
Revenues	9.8	16.2	20.1	32.7
Proton Solutions | APAC
Disaggregation of Revenue [Line Items]
Revenues	1.1	2.2	1.5	4.6
Proton Solutions | North America
Disaggregation of Revenue [Line Items]
Revenues	11.5	14.2	28.3	33.8
Proton Solutions | International
Disaggregation of Revenue [Line Items]
Revenues	10.8	18.4	21.6	37.3
Proton Solutions | Hardware
Disaggregation of Revenue [Line Items]
Revenues	13.1	27.9	33.2	61.5
Proton Solutions | Software
Disaggregation of Revenue [Line Items]
Revenues	1.5	0	1.5	0
Proton Solutions | Service
Disaggregation of Revenue [Line Items]
Revenues	7.7	4.7	15.2	9.6
Other | Products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	11.7	0	30.6	0
Other | Americas
Disaggregation of Revenue [Line Items]
Revenues	6.8	0	13.2	0
Other | EMEA
Disaggregation of Revenue [Line Items]
Revenues	0.2	0	3	0
Other | APAC
Disaggregation of Revenue [Line Items]
Revenues	4.7	0	14.4	0
Other | North America
Disaggregation of Revenue [Line Items]
Revenues	6.8	0	13.2	0
Other | International
Disaggregation of Revenue [Line Items]
Revenues	4.9	0	17.4	0
Other | Hardware
Disaggregation of Revenue [Line Items]
Revenues	$ 11.7	$ 0	$ 30.6	$ 0

BUSINESS COMBINATIONS (Details)

BUSINESS COMBINATIONS (Details) - USD ($)

1 Months Ended

3 Months Ended

6 Months Ended

10 Months Ended

Mar. 31, 2020

Aug. 31, 2019

Jun. 30, 2019

Apr. 03, 2020

Jan. 03, 2020

Sep. 27, 2019

Jun. 28, 2019

Mar. 29, 2019

Dec. 28, 2018

Apr. 03, 2020

Mar. 29, 2019

Mar. 31, 2020

Business Acquisition [Line Items]

Change to fair value of contingent consideration liability

$ (8,200,000)

Goodwill acquired

$ 2,600,000

Acquisition-related expenses

4,400,000

$ 2,200,000

8,300,000

$ 4,600,000

Embolics Microspheres Business

Business Acquisition [Line Items]

Cash consideration

$ 90,000,000

Cancer Treatment Services International

Business Acquisition [Line Items]

Cash consideration

$ 262,800,000

Acquisition purchase price

277,000,000

Contingent consideration liability

8,200,000

Change to fair value of contingent consideration liability

$ 8,200,000

Other consideration

6,000,000

Undiscounted range of contingent consideration payments, low

0

Undiscounted range of contingent consideration payments, high

$ 58,000,000

Revenue projection period for consideration payments

18 months

Endocare and Alicon

Business Acquisition [Line Items]

Cash consideration

$ 197,400,000

Acquisition purchase price

210,000,000

Contingent consideration liability

$ 12,600,000

$ 40,000,000

$ 40,000,000

Change to fair value of contingent consideration liability

$ 8,800,000

$ 18,600,000

Undiscounted range of contingent consideration payments, low

$ 0

Undiscounted range of contingent consideration payments, high

$ 40,000,000

Privately-held Company

Business Acquisition [Line Items]

Asset acquisition, purchase price

$ 15,200,000

Asset acquisition, holdback amount

3,600,000

Asset acquisition, fair value of contingent consideration

0

Asset acquisition, potential maximum payout of contingent consideration

$ 9,000,000

Privately-held Software Company

Business Acquisition [Line Items]

Acquisition purchase price

$ 28,500,000

Goodwill acquired

21,900,000

Intangible assets

$ 6,500,000