Microsemi (MSCC) 10-Q 4 May 16 2016 Q2 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	6 Months Ended
	Apr. 03, 2016	Apr. 27, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Apr. 3, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	MSCC
Entity Registrant Name	MICROSEMI CORP
Entity Central Index Key	310,568
Current Fiscal Year End Date	--10-02
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		113,107,464

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Apr. 03, 2016	Sep. 27, 2015
Current assets:
Cash and cash equivalents	$ 153.1	$ 256.4
Accounts receivable, net of allowances of $30.5 at April 3, 2016 and $26.0 at September 27, 2015	211.9	186.9
Inventories	235.1	227.2
Deferred income taxes, net	26.2	26.2
Assets held for sale	175.1	0
Other current assets	54.3	39.9
Total current assets	855.7	736.6
Property and equipment, net	180.5	152.7
Goodwill	2,464.6	1,139.3
Intangible assets, net	1,022.7	357.8
Deferred income taxes, net	25.2	26.8
Other assets	60.1	36.9
TOTAL ASSETS	4,608.8	2,450.1
Current liabilities:
Accounts payable	101.5	82.3
Accrued liabilities	169.8	86.8
Current maturity of long term debt	16.9	32.5
Liabilities held for sale	9	0
Total current liabilities	297.2	201.6
Credit facility	2,581.9	953.9
Deferred income taxes	80.4	41.1
Other long-term liabilities	$ 107.8	$ 46.3
Commitments and contingencies (Note 10)
Stockholders' equity:
Preferred stock, $1.00 par value; authorized 1 share; none issued	$ 0	$ 0
Common stock, $0.20 par value; 250.0 authorized, 113.1 issued and outstanding at April 3, 2016 and 95.1 issued and outstanding at September 27, 2015	22.6	19
Capital in excess of par value of common stock	1,324.7	808.1
Retained earnings	194.9	383.2
Accumulated other comprehensive loss	(0.7)	(3.1)
Total stockholders' equity	1,541.5	1,207.2
Total liabilities and stockholders' equity	$ 4,608.8	$ 2,450.1

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Apr. 03, 2016	Sep. 27, 2015
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 30.5	$ 26
Preferred stock, par value (USD per share)	$ 1	$ 1
Preferred stock, authorized	1,000	1,000
Preferred stock, issued	0	0
Common stock, par value (USD per share)	$ 0.20	$ 0.20
Common stock, authorized	250,000,000	250,000,000
Common stock, issued	113,100,000	95,100,000
Common stock, outstanding	113,100,000	95,100,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands, shares in Millions	3 Months Ended		6 Months Ended
	Apr. 03, 2016	Mar. 29, 2015	Apr. 03, 2016	Mar. 29, 2015
Income Statement [Abstract]
Net sales	$ 444,300	$ 296,200	$ 773,500	$ 599,800
Cost of sales	243,700	126,900	385,000	262,400
Gross profit	200,600	169,300	388,500	337,400
Operating expenses:
Selling, general and administrative	113,700	61,000	183,000	121,100
Research and development costs	87,800	46,400	142,700	94,000
Amortization of intangible assets	45,300	22,700	70,685	46,273
Restructuring and severance charges	51,700	3,800	53,400	10,900
Total operating expenses	298,500	133,900	449,800	272,300
Operating income	(97,900)	35,400	(61,300)	65,100
Other expenses
Interest expense, net	(38,000)	(5,900)	(46,200)	(12,100)
Other expense, net	(77,800)	(400)	(78,400)	(800)
Total other expense	(115,800)	(6,300)	(124,600)	(12,900)
Income (loss) before income taxes	(213,700)	29,100	(185,900)	52,200
Provision (benefit) for income taxes	(1,700)	4,200	2,400	7,600
Net income (loss)	$ (212,000)	$ 24,900	$ (188,300)	$ 44,600
Earnings (loss) per share:
Basic (USD per share)	$ (1.93)	$ 0.26	$ (1.85)	$ 0.47
Diluted (USD per share)	$ (1.93)	$ 0.26	$ (1.85)	$ 0.47
Weighted-average common shares outstanding:
Basic (in shares)	109.6	94	102	94
Diluted (in shares)	109.6	95.3	102	95.2
Net income (loss)	$ (212,000)	$ 24,900	$ (188,300)	$ 44,600
Other comprehensive income (loss), net of tax:
Translation adjustment	1,900	(2,400)	2,600	(1,900)
Unrealized actuarial loss on pension benefits	(100)	(100)	(100)	(100)
Other comprehensive income (loss), net of tax	1,800	(2,500)	2,500	(2,000)
Total comprehensive income (loss)	$ (210,200)	$ 22,400	$ (185,800)	$ 42,600

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Apr. 03, 2016	Mar. 29, 2015
Cash flows from operating activities:
Net income (loss)	$ (188.3)	$ 44.6
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	93.7	63.9
Change in allowance for doubtful accounts	0.8	0
Amortization of deferred financing costs	4.6	0.4
Loss on disposition or impairment of assets	0.7	2.1
Deferred income taxes	1.6	3.9
Charge for stock based compensation	61.3	22.3
Change in assets and liabilities (net of acquisitions and divestitures):
Accounts receivable	3	9.8
Inventories	65	0.1
Other current assets	1.4	(0.3)
Other assets	(6.7)	(3.1)
Accounts payable	(55.4)	(4.2)
Accrued liabilities	10.7	(3.4)
Other long-term liabilities	23.6	0.3
Net cash provided by operating activities	27	136.4
Cash flows from investing activities:
Purchases of property and equipment	(23)	(24.4)
Proceeds from the sale of short term investments	0.3	0.3
Payments for acquisitions, net of cash acquired	(1,671.1)	(0.1)
Net cash used in investing activities	(1,693.8)	(24.2)
Cash flows from financing activities:
Proceeds from credit facility	2,925	0
Repayments of credit facility and debt	(296.3)	0
Payments of credit facility issuance costs	50.9	0
Repurchase of common stock	0	(50)
Payments for stock settled tax withholdings	(36.5)	(17.1)
Proceeds from exercise of stock options	4	29.1
Net cash provided by (used in) financing activities	1,563.5	(38)
Repayments of Long-term Debt	(981.8)	0
Net increase (decrease) in cash and cash equivalents	(103.3)	74.2
Cash and cash equivalents at beginning of period	256.4	162.2
Cash and cash equivalents at end of period	153.1	236.4
Write off of Deferred Debt Issuance Cost	$ 11	$ 0

Presentation of Financial Infor

Presentation of Financial Information	6 Months Ended
	Apr. 03, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Presentation of Financial Information	Presentation of Financial Information The unaudited condensed consolidated financial statements include the accounts of Microsemi Corporation and its subsidiaries. Intercompany transactions have been eliminated in consolidation. The condensed consolidated financial statements are unaudited, but in the opinion of our management, include all adjustments (all of which are normal or recurring adjustments) necessary for a fair statement of the results of operations for the periods indicated. The results of operations for the most recently reported quarter and six months ended April 3, 2016 are not necessarily indicative of the results to be expected for the full year. The unaudited condensed consolidated financial statements have been prepared in accordance with the requirements of Form 10-Q and Article 10 of the Securities and Exchange Commission Regulation S-X, and therefore do not include all information and note disclosures necessary for a fair statement of our consolidated financial position, results of operations and cash flows in conformity with United States generally accepted accounting principles. The unaudited condensed consolidated financial statements and notes thereto must be read in their entirety in conjunction with the consolidated financial statements and notes thereto in our Annual Report on Form 10-K for the fiscal year ended September 27, 2015 . The unaudited condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles, which require us to make estimates and assumptions that may materially affect the reported amounts of assets and liabilities at the date of the unaudited condensed consolidated financial statements and revenues and expenses during the periods reported. Actual results could differ materially from those estimates. Information with respect to our accounting policies that we believe could have the most significant effect on our reported results and require subjective or complex judgments is contained in the notes to the consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended September 27, 2015 . In referencing a year, we are referring to the fiscal year ended on the Sunday closest to September 30. Except for per-share amounts, dollar amounts are presented in millions unless otherwise stated. Earnings Per Share Basic earnings per share have been computed based upon the weighted-average number of common shares outstanding during the respective periods. Diluted earnings per share have been computed, when the result is dilutive, using the treasury stock method for stock awards outstanding during the respective periods. Earnings per share were calculated as follows: Quarter Ended Six Months Ended April 3, March 29, April 3, March 29, Basic Net income (loss) $ (212.0 ) $ 24.9 $ (188.3 ) $ 44.6 Weighted-average common shares outstanding 109.6 94.0 102.0 94.0 Basic earnings (loss) per share $ (1.93 ) $ 0.26 $ (1.85 ) $ 0.47 Diluted Net income (loss) $ (212.0 ) $ 24.9 $ (188.3 ) $ 44.6 Weighted-average common shares outstanding for basic 109.6 94.0 102.0 94.0 Dilutive effect of stock awards — 1.3 — 1.2 Weighted-average common shares outstanding on a diluted basis 109.6 95.3 102.0 95.2 Diluted earnings (loss) per share $ (1.93 ) $ 0.26 $ (1.85 ) $ 0.47 For the quarter and six months ended April 3, 2016 , all stock awards were excluded as we reported net losses in these periods. For the quarter and six months ended March 29, 2015 , we excluded 0.2 million and 0.8 million , respectively, of stock awards in the computation of diluted earnings per share as these stock awards would have been anti-dilutive. Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09 which provides guidance on how an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Entity expects to be entitled in exchange for those goods or services and on accounting for costs to obtain or fulfill a contract with a customer. The ASU also requires expanded disclosure regarding the nature, amount, timing and uncertainty of revenue that is recognized. In July 2015, the FASB decided to delay the effective date of this ASU by one year. ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, and can be adopted either retrospectively to each prior reporting period presented or as a cumulative-effect adjustment as of the date of adoption, with early application permitted as of the original effective date. In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606) – Principal versus Agent Considerations, which clarifies the implementation guidance for principal versus agent considerations in ASU 2014-09. In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606) – Identifying Performance Obligations and Licensing, which amends the guidance in ASU 2014-09 related to identifying performance obligations and accounting for licenses of intellectual property. We are currently assessing the adoption and impact of these ASUs on our consolidated financial position and results of operations. In June 2014, the FASB issued ASU 2014-12 which provides guidance on how to account for shared-based payment awards where the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. The ASU requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. ASU 2014-12 is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015, and early adoption is permitted. We are currently assessing the impact of this ASU on our consolidated financial position and results of operations. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10), which updates certain aspects of recognition, measurement, presentation and disclosure of financial instruments. ASU 2016-01 is effective for annual periods beginning in its first quarter of 2019. We are currently assessing the impact of this ASU on our consolidated financial position and results of operations. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which modified lease accounting for both lessees and lessors to increase transparency and comparability by recognizing lease assets and lease liabilities by lessees for those leases classified as operating leases under previous accounting standards and disclosing key information about leasing arrangements. ASU 2016-02 is effective for annual periods beginning after December 15, 2018. We are currently evaluating the timing of its adoption and the impact of adopting the new lease standard on our consolidated financial position and results of operations. In March 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. Several aspects of the the accounting for share-based payment award transactions are simplified, including: (a) income tax consequences; (b) classification of awards as either equity or liabilities; and (c) classification on the statement of cash flows. The amendments in this update are effective for annual periods beginning after December 16, 20146, and interim periods within those fiscal years. We are currently assessing the impact of this ASU on our consolidated financial position and results of operations. In April 2016, the FASB issued ASU 2016-11, Improvements to Employee Share-based payments. Specifically, the ASU allows entities to record excess tax benefits or tax deficiencies as tax benefit or expense, allows entities to elect a methodology of using actual forfeitures instead of estimated forfeitures, and allows entities to withhold up to the maximum individual statutory tax rate without classifying the awards as liabilities. The new standard is effective for fiscal years beginning after December 15, 2016. We are currently assessing the impact of this ASU on our consolidated financial position and results of operations.

Acquisition and Divestitures

Acquisition and Divestitures	6 Months Ended
	Apr. 03, 2016
Business Combinations [Abstract]
Acquisition and divestitures	On January 15, 2016 (the "Acquisition Date"), we acquired all outstanding shares of PMC-Sierra, Inc. (“PMC”), for $2.0 billion in cash, including a $88.5 million termination fee, the issuance of approximately 16.0 million shares of Microsemi common stock and the assumption of certain PMC restricted stock units. The acquisition will provide Microsemi with a leading position in high performance and scalable storage solutions, while also adding a complementary portfolio of high-value communications products. During the six months ended April 3, 2016 , we incurred $28.3 million in acquisition and divestiture costs, significantly all of which related to the PMC acquisition, and were recorded in selling, general and administrative expense. A summary of the consideration for PMC is as follows: Cash consideration $ 1,983.2 Share consideration 476.2 Assumption of equity awards 15.7 Accrued cash consideration 0.3 Total consideration $ 2,475.4 We recorded PMC's tangible and intangible assets and liabilities based on their estimated fair values as of the Acquisition Date and allocated the remaining purchase consideration to goodwill. The preliminary allocation is as follows: Cash and cash equivalents $ 313.0 Accounts receivable 53.3 Inventories 98.2 Other current assets 15.8 Property and equipment 38.0 Other assets 19.7 Identifiable intangible assets 745.6 Goodwill 1,430.8 Deferred income taxes, net (39.3 ) Current liabilities (139.2 ) Other non-current liabilities (60.5 ) Total consideration $ 2,475.4 As of the Acquisition Date, the gross contractual amount of acquired accounts receivable of $ 53.3 million was expected to be fully collected. The valuation of identifiable intangible assets and their estimated useful lives are as follows: Asset Amount Weighted Average Useful Life (Years) Completed technology $ 447.0 6 In-process research and development 241.0 0 Customer relationships 46.0 9 Other 11.6 1 $ 745.6 Valuation methodology The fair value of completed technology and in-process research and development ("IPR&D") was estimated by performing a discounted cash flow analysis using the multiperiod excess earnings approach. This method includes discounting the projected cash flows associated with each technology over its expected life. Projected cash flows attributable to the completed technology and IPR&D were discounted to their present value at a rate commensurate with the perceived risk. IPR&D consists of four main projects with expected completion dates of six months and two years. Following a release date, expected useful lives are between five and eight years. The valuation of customer relationships was based on the distributor method, taking into account the profit margin a market participant distributor would obtain in selling PMC products. The useful lives of customer relationships are estimated based upon customer turnover data and management estimates. Other identifiable intangible assets consisted of backlog, valued using the distributor method, and tradename, valued using a relief from royalty. Assumptions used in forecasting cash flows for each of the identified intangible assets included consideration of the following: • Historical performance including sales and profitability. • Business prospects and industry expectations. • Estimated economic life of asset. • Development of new technologies. • Acquisition of new customers. • Attrition of existing customers. • Obsolescence of technology over time. Depending on the structure of a particular acquisition, goodwill and identifiable intangible assets may not be deductible for tax purposes. We determined that goodwill and identifiable intangible assets related to the PMC acquisition are not deductible. The factors that contributed to a purchase price resulting in the recognition of goodwill include: • Our belief the merger will create a more diverse semiconductor company with expansive offerings which will enable us to expand our product offerings. • Our belief we are committed to improving cost structures in accordance with our operational and restructuring plans which should result in a realization of cost savings and an improvement of overall efficiencies. The purchase price allocation described above is preliminary, primarily with respect to tax contingency matters. A final determination of fair values of assets acquired and liabilities assumed relating to the transaction could differ from the preliminary purchase price allocation. We utilized the straight line method of amortization for completed technology, customer relationships and trade name. Supplemental pro forma data (unaudited) The supplemental pro forma data presented is for illustrative purposes only and is not necessarily indicative of the financial position or results of operations that would have been realized if the transaction had been completed on the date indicated, does not reflect synergies that might have been achieved, nor is it indicative of future operating results or financial position. The pro forma adjustments are based upon currently available information and certain assumptions we believe are reasonable under the circumstances. The following supplemental pro forma data summarizes the results of operations for the periods presented, as if we completed the acquisition noted above as of the first day of 2015 . The supplemental pro forma data reports actual operating results, adjusted to include the pro forma effect and timing of the impact in amortization expense of identified intangible assets, incremental interest expense and the related tax effects of the acquisition. In accordance with the pro forma acquisition date, we recorded in the 2015 supplemental pro forma data, cost of goods sold from manufacturing profit in acquired inventory of $66.2 million , PMC-related restructuring costs of $46.7 million and acquisition-related costs of $37.7 million , with a corresponding reduction in the 2016 supplemental proforma data. Net sales related to products from the acquisition of PMC contributed approximately 25% to 30% of net sales for the quarter ended April 3, 2016 . Post-acquisition net sales and earnings on a standalone basis are generally impracticable to determine, as on the acquisition date, we implemented a plan developed prior to the completion of the acquisition and began to immediately integrate the acquisition into existing operations, engineering groups, sales distribution networks and management structure. Supplemental pro forma data is as follows: Six Months Ended April 3, 2016 March 29, 2015 Net sales $ 923.0 $ 869.7 Net loss (75.5 ) (143.2 ) Earnings (loss) per share Basic $ (0.68 ) $ (1.30 ) Diluted $ (0.68 ) $ (1.30 ) Divestitures On March 23, 2016, we agreed to divest our membership interest in Microsemi LLC - RF Integrated Solutions ("RF LLC") to Mercury Systems, Inc. for $300.0 million in cash, subject to customary working capital adjustments. RF LLC operates a non-strategic component of a board level systems and packaging business. This transaction closed on May 2, 2016 and proceeds were $300.0 million . On April 28, 2016, we divested certain assets and liabilities related to our Remote Radio Head business to MaxLinear, Inc. Consideration was $21.0 million in cash. As a result of these divestitures, the assets and liabilities related to these business units were classified as held for sale in our condensed consolidated balance sheet as of April 3, 2016 . The carrying amount of goodwill classified as held for sale was based on the relative fair values of the businesses divested and the remaining businesses retained as of April 3, 2016. The following table summarizes the carrying value of assets and liabilities held for sale: April 3, Accounts receivable, net $ 24.4 Inventory, net 25.3 Fixed assets, net 10.0 Goodwill 103.9 Intangible assets, net 10.0 Other assets 1.5 Assets held for sale $ 175.1 Accounts payable $ 6.1 Accrued payroll and employee benefits 1.9 Deferred revenue 0.1 Other liabilities 0.9 Liabilities held for sale $ 9.0

Inventories

Inventories	6 Months Ended
	Apr. 03, 2016
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are summarized as follows: April 3, September 27, Raw materials $ 16.7 $ 56.5 Work in process 135.3 111.7 Finished goods 83.1 59.0 $ 235.1 $ 227.2

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	6 Months Ended
	Apr. 03, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	Goodwill and Intangible Assets, Net Goodwill and intangible assets, net consisted of the following components: April 3, September 27, Amortizable intangible assets Completed technology $ 636.3 $ 238.0 Customer relationships 136.2 119.1 Backlog, trade name and other 9.2 0.7 $ 781.7 $ 357.8 Non-amortizable intangible assets Goodwill $ 2,464.6 $ 1,139.3 In-process research and development $ 241.0 $ — A reconciliation of goodwill for the six months ended April 3, 2016 is as follows: Balance as of September 27, 2015 $ 1,139.3 Additions from acquisition 1,430.8 Reclassifications to assets held for sale (103.9 ) Adjustments from prior acquisition (1.6 ) Balance as of April 3, 2016 $ 2,464.6 Amortization of intangible assets included in operating expenses is as follows: Quarter Ended Six Months Ended April 3, March 29, April 3, March 29, Completed technology $ 30.3 $ 11.4 $ 44.6 $ 22.9 Customer relationships 12.0 11.2 23.0 22.4 Backlog, trade name and other 3.0 0.1 3.1 1.0 $ 45.3 $ 22.7 $ 70.7 $ 46.3 Estimated amortization expense for amortizable intangible assets in each of the five succeeding years and thereafter is as follows: Less than 1 Year 1-2 Years 2-3 Years 3-4 Years 4-5 Years Thereafter $ 182.6 $ 151.1 $ 120.1 $ 107.0 $ 105.2 $ 115.7

Income Taxes

Income Taxes	6 Months Ended
	Apr. 03, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the quarter and six months ended April 3, 2016 , we recorded an income tax benefit of $1.7 million and an income tax provision of $2.4 million , respectively. For the quarter and six months ended March 29, 2015 , we recorded income tax provisions of $4.2 million and $7.6 million , respectively. The difference in our effective tax rate from the U.S. statutory rate of 35% primarily reflects the impact of the mix of domestic and international pre-tax income, valuation allowance and credits. Our tax provisions for the six months ended April 3, 2016 and March 29, 2015 were the combined calculated tax expenses, benefits and credits for various jurisdictions. We file U.S., state, and foreign income tax returns in jurisdictions with varying statutes of limitations. The 2007 through 2014 tax years generally remain subject to examination by federal tax authorities, most state tax authorities and in significant foreign jurisdictions. Each quarter, we reassess our uncertain tax positions for additional unrecognized tax benefits, interest and penalties, and deletions due to statute expirations. Based on federal, state and foreign statute expirations in various jurisdictions, we anticipate a potential decrease in unrecognized tax benefits of approximately $47.3 million within the next twelve months. In December 2015, the U.S. government permanently reinstated the federal research and tax credit retroactively to January 1, 2015. We are currently in a loss position for U.S. income tax purposes with a full valuation allowance; therefore, no benefit has been recognized for the quarter and six months ended April 3, 2016 . We establish liabilities for possible assessments by tax authorities resulting from known tax exposures including, but not limited to, international tax issues and certain tax credits. The Internal Revenue Service ("IRS") is currently examining our income tax returns for tax years 2007 through 2012 and the Canada Revenue Agency is currently examining income tax returns assumed from the PMC acquisition for tax years 2007 through 2014. Both examinations primarily relate to transfer pricing matters. Management believes that our position is appropriate and that an adequate provision has been made for any adjustments that may result from tax examinations. However, the outcome of tax audits cannot be predicted with certainty. If any issues addressed in our tax audits are resolved in a manner not consistent with management's expectations, we would be required to adjust our provision for income tax in the period such resolution occurs. While we believe our reported results are appropriate, any significant adjustments could have a material adverse effect on our results of operations, cash flows and financial position if not resolved within expectations.

Credit Agreement

Credit Agreement	6 Months Ended
	Apr. 03, 2016
Debt Disclosure [Abstract]
Credit Agreement	Credit Agreement On January 15, 2016, we entered into a Credit Agreement (the “Credit Agreement”) with Morgan Stanley Senior Funding, Inc. (“MSSF”), as administrative agent and collateral agent, the other agents party thereto and the lenders referred to therein (collectively, the “Lenders”). The Lenders have provided $2.5 billion senior secured first lien credit facilities (collectively, the “Credit Facilities”), consisting of a term A loan facility (the “Term Loan A Facility”) in an aggregate principal amount of $450.0 million , a term B loan facility (the “Term Loan B Facility”) in an aggregate principal amount of $1.7 billion and a revolving credit facility (the “Revolving Facility”) with commitments in an aggregate principal amount of $325.0 million . The Credit Facilities financed a portion of the acquisition of PMC and fees and expenses related thereto. The Revolving Facility is also available for working capital requirements and other general corporate purposes. The Credit Facilities bear interest, at our option, at Base Rate or LIBOR, plus a margin. Starting after the next full fiscal quarter, the margin for borrowings under the Term Loan A Facility and Revolving Facility will vary depending upon Microsemi’s consolidated net leverage ratio. At April 3, 2016 , the principal amounts outstanding were Eurodollar Rate loans and interest rate information as of April 3, 2016 were as follows: Principal Outstanding Base Rate Base Rate Margin Eurodollar Rate Margin Eurodollar Floor Applicable Rate Revolving facility $ 225.0 3.50 % 1.50 % 2.50 % — % 2.94 % Term A loan $ 450.0 3.50 % 1.50 % 2.50 % — % 2.94 % Term B loan $ 1,520.0 3.50 % 3.50 % 4.50 % 0.75 % 5.25 % As of April 3, 2016 , the fair value of principal outstanding on the Credit Agreement was $2.2 billion . We classify this valuation as a Level 2 fair value measurement. The Credit Agreement also requires the Company to pay a commitment fee for the unused portion of the Revolving Facility, which will be a minimum of 0.25% and a maximum of 0.35% , depending on the Company’s consolidated net leverage ratio. Interest for Base Rate-based loans is calculated on the basis of a 365/366-day year and interest for LIBOR-based loans is calculated on the basis of a 360-day year. The obligations under the Credit Facilities are collateralized by a lien on substantially all of our personal property and material real property assets (collectively, the “Collateral”). The Term Loan A Facility matures January 15, 2021. The Term Loan A Facility requires quarterly principal payments of 1.25% of the original principal amount for the first two years following the closing date and 2.5% of the original principal amount for the remaining three years. The Term Loan B Facility matures on January 15, 2023. The Term Loan B Facility requires quarterly principal payments equal to 0.25% of the original principal amount of the Term Loan B Facility. We have made optional principal payments on our Term Loan B Facility such that there are no scheduled principal payments until maturity. The Credit Facilities include financial maintenance covenants including a maximum consolidated net leverage ratio and minimum fixed charge coverage ratio and also contain other customary affirmative and negative covenants and events of default. We were in compliance with our covenants as of April 3, 2016 . During the quarter, we made $100.0 million and $180.0 million principal payments on the Revolving Facility and Term Loan B Facility, respectively. Senior Unsecured Notes On January 15, 2016, we completed the sale of $450.0 million of our 9.125% senior unsecured notes due April 2023 (the “Notes”) to qualified institutional buyers and pursuant to Regulation S in a private offering exempt from the registration requirements of the Securities Act of 1933, as amended. The Notes were issued under an indenture, dated January 15, 2016, among Microsemi, the subsidiaries of Microsemi party thereto as note guarantors, and U.S. Bank National Association, as trustee (the “Indenture”). As of April 3, 2016 , the fair value of principal outstanding on the Senior Unsecured Notes was $496.1 million . We classify this valuation as a Level 1 fair value measurement. The Notes accrue cash interest at a rate of 9.125% per year, payable semi-annually on April 15 and October 15 of each year, beginning on October 15, 2016. The Notes mature on April 15, 2023. We may redeem the Notes, and the holders of the Notes may require us to repurchase the Notes, prior to this date of maturity in certain circumstances pursuant to the terms and conditions of the Indenture. The Indenture contains customary affirmative and negative covenants and events of default. Debt Extinguishment and Debt Issuance Costs On January 15, 2016, concurrent with entering into the Credit Agreement, we terminated our senior secured credit agreement with Bank of America, N.A., which included a term loan A facility and a revolving facility maturing on August 19, 2019 and a term loan B facility maturing on February 19, 2020 . During the quarter ended April 3, 2016 , we recorded debt extinguishment charges of $72.3 million consisting of $61.3 million we paid during Q2 2016 in connection with the Credit Agreement and reported in net cash provided by operating activities and $11.0 million related to prior deferred financing fees we expensed in connection with the termination of our prior senior secured credit agreement. Debt issuance costs recorded as a reduction to principal outstanding in the condensed consolidated balance sheets were $50.2 million as of April 3, 2016 and $11.7 million as of September 27, 2015.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Apr. 03, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock Based Compensation In February 2016, our stockholders approved amendments to the Microsemi Corporation 2008 Performance Incentive Plan (the "2008 Plan"). The amendments a) increased the share limit by an additional approximately 4.8 million shares so that the amended aggregate share limit for the 2008 Plan is approximately 41.8 million shares; b) extended the term of the 2008 Plan to December 2, 2025; c) limited the grant date value of awards that may granted to non-employee directors under the 2008 Plan during any one calendar year to $0.4 million (or $0.6 million as to any newly elected or appointed non-employee director or a non-employee director serving as chairman of the Board or lead independent director); and d) extended the Company's authority to grant awards under the 2008 Plan intended to qualify as "performance-based awards" within the meaning of Section 162(m) of the U.S. Internal Revenue Code through the first annual meeting of stockholders that occurs in 2021. For every one share issued in connection with a full value award (as defined in the 2008 Plan), 2.41 shares will be counted against the share limit. Except as described in this paragraph, shares that are subject to or underlie awards which expire or for any reason, are canceled or terminated, are forfeited, fail to vest, or for any other reason are not paid or delivered under the 2008 Plan will again be available for subsequent awards under the 2008 Plan. Shares exchanged by a participant or withheld by the Company as full or partial payment in connection with any award granted under the 2008 Plan that is a full-value award, as well as any shares exchanged by a participant or withheld by the Company or one of its subsidiaries to satisfy the tax withholding obligations related to any full-value award granted under the 2008 Plan will be available for subsequent awards under the 2008 Plan. Shares exchanged by a participant or withheld by the Company to pay the exercise price of a stock option or stock appreciation right granted under the 2008 Plan, as well as any shares exchanged or withheld to satisfy the tax withholding obligations related to any such award, will not be available for subsequent awards under the 2008 Plan. Tax withholding obligations are established at the statutory minimum requirements for any shares exchanged or withheld. Awards authorized by the 2008 Plan include options, stock appreciation rights, restricted stock, stock bonuses, stock units, performance share awards, and other cash or share-based awards. The shares issued under the 2008 Plan may be newly issued or shares held by Microsemi as treasury stock. The maximum term of a stock option grant or a stock appreciation right granted under the 2008 Plan is 6 years . For the quarter and six months ended April 3, 2016, stock-based compensation expense was $24.4 million and $38.3 million , respectively. For the quarter and six months ended March 29, 2015 , stock-based compensation expense was $11.8 million and $22.5 million , respectively. The quantity of restricted shares and performance stock units at target levels granted and their weighted-average fair value are as follows (quantity in millions): Six Months Ended Quantity Weighted-Average Fair Value per Award March 29, 2015 Restricted shares 1.2 $ 29.04 Performance stock units 0.4 $ 27.54 April 3, 2016 Restricted shares 1.2 $ 31.72 Restricted shares assumed from acquisition 1.9 $ 29.77 Performance stock units 0.3 $ 35.14 Restricted Shares Compensation expense for restricted shares was calculated based on the closing price of our common stock on the date of grant and the restricted shares are subject to forfeiture if a participant does not meet length of service requirements. Restricted stock awards granted to employees typically vest over a three year period and awards granted to non-employee directors vest in accordance with our director compensation policy. Performance Stock Units Compensation expense for performance stock units was calculated based upon expected achievement of the performance metrics specified in the grant and the closing price of our common stock on the date of grant, or when a grant contains a market condition, the grant date fair value using a Monte Carlo simulation which incorporates estimates of the potential outcomes of the market condition on the fair value date of each award. Performance units granted in 2014, 2015 and 2016 are eligible to vest based on our rate of growth for net sales and earnings per share (subject to certain adjustments) relative to the growth rates for that metric over the relevant performance period for a peer group of companies. The performance period for each grant is over three fiscal years and portion of the performance units may vest based on performance after each fiscal year of the performance period. For the 2014 grants, 40% of each performance-based award opportunity is subject to the net sales metric for the performance period and 60% is subject to the earnings per share metric for the performance period. The maximum percentage for a particular metric is 200% of the "target" number of units subject to the award related to that metric. For the 2015 and 2016 grants, 70% of each performance-based award opportunity is subject to the net sales metric for the performance period and 30% is subject to the earnings per share metric for the performance period. The maximum percentage for a particular metric is 225% of the "target" number of units subject to the award related to that metric. The maximum percentage is further adjusted by our total shareholder return relative to a peer group selected by the Compensation Committee. For the 2014 grants, the maximum adjustment is 125% and for the 2015 and 2016 grants, the maximum adjustment is 120% .

Segment Information

Segment Information	6 Months Ended
	Apr. 03, 2016
Segment Reporting [Abstract]
Segment Information	Segment Information We manage our business on the basis of one reportable segment, as a manufacturer of semiconductors in different geographic areas, including the United States, Europe and Asia. We derive revenue from sales of our high-performance analog/mixed-signal integrated circuits and power and high-reliability individual component semiconductors. These products include individual components as well as integrated circuit solutions that enhance customer designs by improving performance, reliability and battery optimization, reducing size or protecting circuits. As a percentage of consolidated net sales, customers with a ship-to location in Hong Kong totaled 19% and 17% for the quarter and six months ended April 3, 2016 , respectively and 11% for the quarter and six months ended March 29, 2015 .

Restructuring and Severance Cha

Restructuring and Severance Charges	6 Months Ended
	Apr. 03, 2016
Restructuring and Related Activities [Abstract]
Restructuring and Severance Charges	Restructuring and Severance Charges The following table reflects restructuring activities and the accrued liabilities at the dates below: Employee Severance Contract Termination Costs Other Associated Costs Total Balance at September 27, 2015 $ 2.9 $ 3.2 $ 0.1 $ 6.2 Assumed from acquisition 3.0 — — 3.0 Provisions 48.9 1.9 2.8 53.6 Reversal of prior provision (0.2 ) — — (0.2 ) Cash expenditures (21.7 ) (1.6 ) (0.4 ) (23.7 ) Other non-cash settlement (23.3 ) (0.3 ) (2.4 ) (26.0 ) Balance at April 3, 2016 $ 9.6 $ 3.2 $ 0.1 $ 12.9 We recorded net provisions for employee severance of $48.7 million for the six months ended April 3, 2016 , of which $46.7 million is related to actions following our acquisition and integration of PMC. The non-cash settlement of employee severance relates to the acceleration of restricted stock awards in connection of the acquisition of PMC. Employee severance covered individuals in engineering, manufacturing, administration and sales and is expected to be paid within the next twelve months . We recorded provisions for contract termination costs of $1.9 million for the six months ended April 3, 2016 , primarily for the fair value at the cease-use date of operating lease liabilities for space we have exited. Facilities consisted of manufacturing sites, as well as sales, engineering and administrative space. We recorded provisions for other associated costs for restructuring of $2.8 million for the six months ended April 3, 2016 , of which $2.4 million is related to facility consolidation.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Apr. 03, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We are generally self-insured for losses and liabilities related to workers’ compensation and employer’s liability insurance. Accrued workers’ compensation liability was $1.9 million and $2.3 million at April 3, 2016 and September 27, 2015 , respectively. Our self-insurance accruals are based on estimates and, while we believe that the amounts accrued are adequate, the ultimate claims may be in excess of the amounts provided. We are involved in pending litigation, administrative and similar matters arising out of the normal conduct of our business, including litigation relating to acquisitions, employment matters, commercial transactions, contracts, environmental matters and matters related to compliance with governmental regulations. The ultimate aggregate amount of monetary liability or financial impact with respect to these matters is subject to many uncertainties and is therefore not predictable with assurance. In the opinion of management, the final outcome of these matters, if they are adverse, will not have a material adverse effect on our financial position, results of operations or cash flows. However, there can be no assurance with respect to such result, and monetary liability, financial impact or other sanctions imposed on us from these matters could differ materially from those projected.

Presentation of Financial Inf16

Presentation of Financial Information (Policies)	6 Months Ended
	Apr. 03, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share have been computed based upon the weighted-average number of common shares outstanding during the respective periods. Diluted earnings per share have been computed, when the result is dilutive, using the treasury stock method for stock awards outstanding during the respective periods. Earnings per share were calculated as follows:
Recently Issued Accounting Standards	Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09 which provides guidance on how an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Entity expects to be entitled in exchange for those goods or services and on accounting for costs to obtain or fulfill a contract with a customer. The ASU also requires expanded disclosure regarding the nature, amount, timing and uncertainty of revenue that is recognized. In July 2015, the FASB decided to delay the effective date of this ASU by one year. ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, and can be adopted either retrospectively to each prior reporting period presented or as a cumulative-effect adjustment as of the date of adoption, with early application permitted as of the original effective date. In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606) – Principal versus Agent Considerations, which clarifies the implementation guidance for principal versus agent considerations in ASU 2014-09. In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606) – Identifying Performance Obligations and Licensing, which amends the guidance in ASU 2014-09 related to identifying performance obligations and accounting for licenses of intellectual property. We are currently assessing the adoption and impact of these ASUs on our consolidated financial position and results of operations. In June 2014, the FASB issued ASU 2014-12 which provides guidance on how to account for shared-based payment awards where the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. The ASU requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. ASU 2014-12 is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015, and early adoption is permitted. We are currently assessing the impact of this ASU on our consolidated financial position and results of operations. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10), which updates certain aspects of recognition, measurement, presentation and disclosure of financial instruments. ASU 2016-01 is effective for annual periods beginning in its first quarter of 2019. We are currently assessing the impact of this ASU on our consolidated financial position and results of operations. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which modified lease accounting for both lessees and lessors to increase transparency and comparability by recognizing lease assets and lease liabilities by lessees for those leases classified as operating leases under previous accounting standards and disclosing key information about leasing arrangements. ASU 2016-02 is effective for annual periods beginning after December 15, 2018. We are currently evaluating the timing of its adoption and the impact of adopting the new lease standard on our consolidated financial position and results of operations. In March 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. Several aspects of the the accounting for share-based payment award transactions are simplified, including: (a) income tax consequences; (b) classification of awards as either equity or liabilities; and (c) classification on the statement of cash flows. The amendments in this update are effective for annual periods beginning after December 16, 20146, and interim periods within those fiscal years. We are currently assessing the impact of this ASU on our consolidated financial position and results of operations. In April 2016, the FASB issued ASU 2016-11, Improvements to Employee Share-based payments. Specifically, the ASU allows entities to record excess tax benefits or tax deficiencies as tax benefit or expense, allows entities to elect a methodology of using actual forfeitures instead of estimated forfeitures, and allows entities to withhold up to the maximum individual statutory tax rate without classifying the awards as liabilities. The new standard is effective for fiscal years beginning after December 15, 2016. We are currently assessing the impact of this ASU on our consolidated financial position and results of operations.

Presentation of Financial Inf17

Presentation of Financial Information (Tables)	6 Months Ended
	Apr. 03, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Earnings Per Share	Earnings per share were calculated as follows: Quarter Ended Six Months Ended April 3, March 29, April 3, March 29, Basic Net income (loss) $ (212.0 ) $ 24.9 $ (188.3 ) $ 44.6 Weighted-average common shares outstanding 109.6 94.0 102.0 94.0 Basic earnings (loss) per share $ (1.93 ) $ 0.26 $ (1.85 ) $ 0.47 Diluted Net income (loss) $ (212.0 ) $ 24.9 $ (188.3 ) $ 44.6 Weighted-average common shares outstanding for basic 109.6 94.0 102.0 94.0 Dilutive effect of stock awards — 1.3 — 1.2 Weighted-average common shares outstanding on a diluted basis 109.6 95.3 102.0 95.2 Diluted earnings (loss) per share $ (1.93 ) $ 0.26 $ (1.85 ) $ 0.47

Acquisition and Divestitures (T

Acquisition and Divestitures (Tables)	6 Months Ended
	Apr. 03, 2016
Business Combinations [Abstract]
Schedule of Business Acquisitions by Acquisition, Contingent Consideration	A summary of the consideration for PMC is as follows: Cash consideration $ 1,983.2 Share consideration 476.2 Assumption of equity awards 15.7 Accrued cash consideration 0.3 Total consideration $ 2,475.4
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination	We recorded PMC's tangible and intangible assets and liabilities based on their estimated fair values as of the Acquisition Date and allocated the remaining purchase consideration to goodwill. The preliminary allocation is as follows: Cash and cash equivalents $ 313.0 Accounts receivable 53.3 Inventories 98.2 Other current assets 15.8 Property and equipment 38.0 Other assets 19.7 Identifiable intangible assets 745.6 Goodwill 1,430.8 Deferred income taxes, net (39.3 ) Current liabilities (139.2 ) Other non-current liabilities (60.5 ) Total consideration $ 2,475.4
Schedule of Acquired Finite-Lived Intangible Assets by Major Class	The valuation of identifiable intangible assets and their estimated useful lives are as follows: Asset Amount Weighted Average Useful Life (Years) Completed technology $ 447.0 6 In-process research and development 241.0 0 Customer relationships 46.0 9 Other 11.6 1 $ 745.6
Business Acquisition, Pro Forma Information	Supplemental pro forma data is as follows: Six Months Ended April 3, 2016 March 29, 2015 Net sales $ 923.0 $ 869.7 Net loss (75.5 ) (143.2 ) Earnings (loss) per share Basic $ (0.68 ) $ (1.30 ) Diluted $ (0.68 ) $ (1.30 )
Assets And Liabilities Held For Sale	The following table summarizes the carrying value of assets and liabilities held for sale: April 3, Accounts receivable, net $ 24.4 Inventory, net 25.3 Fixed assets, net 10.0 Goodwill 103.9 Intangible assets, net 10.0 Other assets 1.5 Assets held for sale $ 175.1 Accounts payable $ 6.1 Accrued payroll and employee benefits 1.9 Deferred revenue 0.1 Other liabilities 0.9 Liabilities held for sale $ 9.0

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Apr. 03, 2016
Inventory Disclosure [Abstract]
Schedule of inventories	Inventories are summarized as follows: April 3, September 27, Raw materials $ 16.7 $ 56.5 Work in process 135.3 111.7 Finished goods 83.1 59.0 $ 235.1 $ 227.2

Goodwill and Intangible Asset20

Goodwill and Intangible Assets, Net (Tables)	6 Months Ended
	Apr. 03, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and intangible assets, net consisted of the following components: April 3, September 27, Amortizable intangible assets Completed technology $ 636.3 $ 238.0 Customer relationships 136.2 119.1 Backlog, trade name and other 9.2 0.7 $ 781.7 $ 357.8 Non-amortizable intangible assets Goodwill $ 2,464.6 $ 1,139.3 In-process research and development $ 241.0 $ —
Schedule of Goodwill	A reconciliation of goodwill for the six months ended April 3, 2016 is as follows: Balance as of September 27, 2015 $ 1,139.3 Additions from acquisition 1,430.8 Reclassifications to assets held for sale (103.9 ) Adjustments from prior acquisition (1.6 ) Balance as of April 3, 2016 $ 2,464.6
Amortization of Intangible Assets	Amortization of intangible assets included in operating expenses is as follows: Quarter Ended Six Months Ended April 3, March 29, April 3, March 29, Completed technology $ 30.3 $ 11.4 $ 44.6 $ 22.9 Customer relationships 12.0 11.2 23.0 22.4 Backlog, trade name and other 3.0 0.1 3.1 1.0 $ 45.3 $ 22.7 $ 70.7 $ 46.3
Estimated Amortization Expense	Estimated amortization expense for amortizable intangible assets in each of the five succeeding years and thereafter is as follows: Less than 1 Year 1-2 Years 2-3 Years 3-4 Years 4-5 Years Thereafter $ 182.6 $ 151.1 $ 120.1 $ 107.0 $ 105.2 $ 115.7

Debt (Tables)

Debt (Tables)	6 Months Ended
	Apr. 03, 2016
Debt Disclosure [Abstract]
Schedule of Debt	At April 3, 2016 , the principal amounts outstanding were Eurodollar Rate loans and interest rate information as of April 3, 2016 were as follows: Principal Outstanding Base Rate Base Rate Margin Eurodollar Rate Margin Eurodollar Floor Applicable Rate Revolving facility $ 225.0 3.50 % 1.50 % 2.50 % — % 2.94 % Term A loan $ 450.0 3.50 % 1.50 % 2.50 % — % 2.94 % Term B loan $ 1,520.0 3.50 % 3.50 % 4.50 % 0.75 % 5.25 %

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Apr. 03, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of restricted shares and performance stock units	The quantity of restricted shares and performance stock units at target levels granted and their weighted-average fair value are as follows (quantity in millions): Six Months Ended Quantity Weighted-Average Fair Value per Award March 29, 2015 Restricted shares 1.2 $ 29.04 Performance stock units 0.4 $ 27.54 April 3, 2016 Restricted shares 1.2 $ 31.72 Restricted shares assumed from acquisition 1.9 $ 29.77 Performance stock units 0.3 $ 35.14

Restructuring and Severance C23

Restructuring and Severance Charges (Tables)	6 Months Ended
	Apr. 03, 2016
Restructuring and Related Activities [Abstract]
Reflects the restructuring activities and the accrued liabilities	The following table reflects restructuring activities and the accrued liabilities at the dates below: Employee Severance Contract Termination Costs Other Associated Costs Total Balance at September 27, 2015 $ 2.9 $ 3.2 $ 0.1 $ 6.2 Assumed from acquisition 3.0 — — 3.0 Provisions 48.9 1.9 2.8 53.6 Reversal of prior provision (0.2 ) — — (0.2 ) Cash expenditures (21.7 ) (1.6 ) (0.4 ) (23.7 ) Other non-cash settlement (23.3 ) (0.3 ) (2.4 ) (26.0 ) Balance at April 3, 2016 $ 9.6 $ 3.2 $ 0.1 $ 12.9

Presentation of Financial Inf24

Presentation of Financial Information - Earning Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Apr. 03, 2016	Mar. 29, 2015	Apr. 03, 2016	Mar. 29, 2015
BASIC
Net income (loss)	$ (212)	$ 24.9	$ (188.3)	$ 44.6
Weighted-average common shares outstanding (in shares)	109,600	94,000	102,000	94,000
Basic earnings (loss) per share (USD per share)	$ (1.93)	$ 0.26	$ (1.85)	$ 0.47
DILUTED
Net income (loss)	$ (212)	$ 24.9	$ (188.3)	$ 44.6
Weighted-average common shares outstanding (in shares)	109,600	94,000	102,000	94,000
Dilutive effect of stock awards	0	1,300	0	1,200
Weighted-average common shares outstanding on a diluted basis (in shares)	109,600	95,300	102,000	95,200
Diluted earnings per share (USD per share)	$ (1.93)	$ 0.26	$ (1.85)	$ 0.47

Presentation of Financial Inf25

Presentation of Financial Information - Additional Information (Details) - shares shares in Millions	3 Months Ended	6 Months Ended
	Mar. 29, 2015	Mar. 29, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Stock awards excluded in computation of diluted EPS	0.2	0.8

Acquisition and Divestitures -

Acquisition and Divestitures - Narrative (Details) - USD ($) shares in Millions, $ in Millions	Jan. 15, 2016	Apr. 03, 2016
Business Acquisition [Line Items]
Acquisition and divestiture costs		$ 28.3
PMC-SIERRA INC.
Business Acquisition [Line Items]
Cost of good sold		$ 66.2
Cash consideration	$ 2,000
Termination fee	88.5
Gross contractual amount of acquired accounts receivable	53.3
Asset Amount	745.6
PMC-SIERRA INC. | Completed technology
Business Acquisition [Line Items]
Asset Amount	$ 447
Weighted Average Useful Life (Years)	6 years
PMC-SIERRA INC. | Customer relationships
Business Acquisition [Line Items]
Asset Amount	$ 46
Weighted Average Useful Life (Years)	9 years
PMC-SIERRA INC. | Other
Business Acquisition [Line Items]
Asset Amount	$ 11.6
Weighted Average Useful Life (Years)	1 year
PMC-SIERRA INC. | Common Stock
Business Acquisition [Line Items]
Number of shares issued in acquisition	16
In-process research and development | PMC-SIERRA INC.
Business Acquisition [Line Items]
Asset Amount	$ 241
Weighted Average Useful Life (Years)	0 years

Acquisition and Divestitures 27

Acquisition and Divestitures - Summary of consideration (Details) $ in Millions	Jan. 15, 2016USD ($)
Business Acquisition [Line Items]
Accrued cash consideration	$ 0.3
PMC-SIERRA INC.
Business Acquisition [Line Items]
Cash consideration	2,000
Assumption of equity awards	15.7
Total consideration	2,475.4
Common Stock | PMC-SIERRA INC.
Business Acquisition [Line Items]
Share consideration	$ 476.2

Acquisition and Divestitures 28

Acquisition and Divestitures - Preliminary allocation of acquisition (Details) - USD ($) $ in Millions	Jan. 15, 2016	Apr. 03, 2016	Sep. 27, 2015
Business Acquisition [Line Items]
Goodwill		$ 2,464.6	$ 1,139.3
PMC-SIERRA INC.
Business Acquisition [Line Items]
Cash and cash equivalents	$ 313
Accounts receivable	53.3
Inventories	98.2
Other current assets	15.8
Property and equipment	38
Other assets	19.7
Deferred income taxes, net	(39.3)
Identifiable intangible assets	745.6
Goodwill	1,430.8
Current liabilities	(139.2)
Other non-current liabilities	(60.5)
Total consideration	$ 2,475.4

Acquisition and Divestitures 29

Acquisition and Divestitures - Supplemental pro forma data (Details) - PMC-SIERRA INC. - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended
	Apr. 03, 2016	Apr. 03, 2016	Mar. 29, 2015
Business Acquisition [Line Items]
Cost of good sold		$ 66.2
Restructuring costs		46.7
Acquisition-related costs		37.7
Net sales		0.9	$ 0.9
Net loss		$ (0.1)	$ (0.1)
Basic (usd per share)		$ (0.68)	$ (1.30)
Diluted (usd per share)		$ (0.68)	$ (1.30)
Minimum
Business Acquisition [Line Items]
Net sales related to products from acquisition	25.00%
Maximum
Business Acquisition [Line Items]
Net sales related to products from acquisition	30.00%

Acquisition and Divestitures 30

Acquisition and Divestitures - Divestitures (Details) - USD ($) $ in Millions	May. 02, 2016	Apr. 28, 2016	Apr. 03, 2016	Mar. 29, 2015	Mar. 23, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from the sale of short term investments			$ 0.3	$ 0.3
Accounts receivable, net			24.4
Inventory, net			25.3
Fixed assets, net			10
Goodwill			103.9
Intangible assets, net			10
Other assets			1.5
Assets held for sale			175.1
Accounts payable			6.1
Accrued payroll and employee benefits			1.9
Deferred revenue			0.1
Other liabilities			0.9
Liabilities held for sale			$ 9
Microsemi LLC - RF Integrated Solutions (RF LLC)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Consideration					$ 300
Microsemi LLC - RF Integrated Solutions (RF LLC) | Subsequent event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from the sale of short term investments	$ 300
Remote Radio Head | Subsequent event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Divestiture of Businesses, Net of Cash Divested		$ 21

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Apr. 03, 2016	Sep. 27, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 16.7	$ 56.5
Work in process	135.3	111.7
Finished goods	83.1	59
Inventories, net	$ 235.1	$ 227.2

Goodwill and Intangible Asset32

Goodwill and Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 03, 2016	Mar. 29, 2015	Apr. 03, 2016	Mar. 29, 2015	Apr. 03, 2016	Sep. 27, 2015
Goodwill and Intangible Assets Disclosure [Line Items]
Amortizable intangible assets					$ 781,700	$ 357,800
Goodwill	$ 2,464,600		$ 1,139,300		2,464,600	1,139,300
Goodwill [Roll Forward]
Balance as of September 27, 2015			1,139,300
Additions from acquisition			1,430,800
Reclassifications to assets held for sale			(103,900)
Adjustments from prior acquisition			(1,600)
Balance as of April 3, 2016	2,464,600		2,464,600
Amortization of intangible assets	45,300	$ 22,700	70,685	$ 46,273
Completed technology
Goodwill and Intangible Assets Disclosure [Line Items]
Amortizable intangible assets					636,300	238,000
Goodwill [Roll Forward]
Amortization of intangible assets	30,300	11,400	44,557	22,864
Customer relationships
Goodwill and Intangible Assets Disclosure [Line Items]
Amortizable intangible assets					136,200	119,100
Goodwill [Roll Forward]
Amortization of intangible assets	12,000	11,200	22,956	22,433
Backlog, trade name and other
Goodwill and Intangible Assets Disclosure [Line Items]
Amortizable intangible assets					9,200	700
Goodwill [Roll Forward]
Amortization of intangible assets	$ 3,000	$ 100	$ 3,172	$ 976
In-process research and development
Goodwill and Intangible Assets Disclosure [Line Items]
Non-amortizable intangible assets					$ 241,000	$ 0

Goodwill and Intangible Asset33

Goodwill and Intangible Assets, Net - Estimated Amortization Expense (Details) $ in Millions	Apr. 03, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense, Less than 1 Year	$ 182.6
Amortization expense, 1-2 Years	151.1
Amortization expense, 2-3 Years	120.1
Amortization expense, 3-4 Years	107
Amortization expense, 4-5 Years	105.2
Amortization expense, Thereafter	$ 115.7

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 03, 2016	Mar. 29, 2015	Apr. 03, 2016	Mar. 29, 2015
Income Taxes [Line Items]
Provision (benefit) for income taxes	$ (1.7)	$ 4.2	$ 2.4	$ 7.6
U.S. statutory rate			35.00%
Unrecognized tax benefit that would impact effective tax rate within next twelve months	$ 47.3		$ 47.3
Minimum | Internal Revenue Service (IRS)
Income Taxes [Line Items]
Open tax years by major tax jurisdiction			2,007
Maximum | Internal Revenue Service (IRS)
Income Taxes [Line Items]
Open tax years by major tax jurisdiction			2,014

Debt (Details)

Debt (Details) - USD ($)	Apr. 03, 2016	Jan. 15, 2016	Apr. 03, 2016	Apr. 03, 2016	Mar. 29, 2015	Sep. 27, 2015
Line of Credit Facility [Line Items]
Maximum borrowing capacity on debt		$ 2,500,000,000
Principal Outstanding	$ 2,200,000,000		$ 2,200,000,000	$ 2,200,000,000
Write off of Deferred Debt Issuance Cost				11,000,000	$ 0
Debt issuance cost				50,200,000		$ 11,700,000
Minimum
Line of Credit Facility [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		0.25%
Maximum
Line of Credit Facility [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		0.35%
Incremental term loan
Line of Credit Facility [Line Items]
Principal Outstanding	$ 450,000,000		$ 450,000,000	$ 450,000,000
Base Rate	3.50%		3.50%	3.50%
Applicable Rate	2.94%
Incremental term loan | Base Rate
Line of Credit Facility [Line Items]
Rate Margins	1.50%
Incremental term loan | Eurodollar
Line of Credit Facility [Line Items]
Rate Margins	2.50%
Eurodollar Floor	0.00%
Term Loan Facility
Line of Credit Facility [Line Items]
Principal Outstanding	$ 1,520,000,000		$ 1,520,000,000	$ 1,520,000,000
Base Rate	3.50%		3.50%	3.50%
Applicable Rate	5.25%
Term Loan Facility | Base Rate
Line of Credit Facility [Line Items]
Rate Margins	3.50%
Term Loan Facility | Eurodollar
Line of Credit Facility [Line Items]
Rate Margins	4.50%
Eurodollar Floor	0.75%
Revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity on debt		$ 325,000,000
Principal Outstanding	$ 225,000,000		$ 225,000,000	$ 225,000,000
Applicable Rate	2.94%
Debt Instrument, Periodic Payment, Principal			100,000,000
Revolving credit facility | Eurodollar
Line of Credit Facility [Line Items]
Eurodollar Floor	0.00%
Unsecured debt
Line of Credit Facility [Line Items]
Base Rate		9.125%
Debt Instrument, Fair Value Disclosure	$ 496,100,000		496,100,000	$ 496,100,000
Debt Instrument, Face Amount		$ 450,000,000
Term Loan A Facility | Term Loan Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity on debt		450,000,000
Debt Instrument, Periodic Payment, Principal			$ 180,000,000
Amended And Restated Credit Agreement | Revolving credit facility | Base Rate
Line of Credit Facility [Line Items]
Base Rate	3.50%		3.50%	3.50%
Rate Margins	1.50%
Amended And Restated Credit Agreement | Revolving credit facility | Eurodollar
Line of Credit Facility [Line Items]
Rate Margins	2.50%
Term Loan B Facility | Term Loan Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity on debt		$ 1,700,000,000
Debt Instrument, Periodic Payment, Percentage Of Original Principal		0.25%
First Two Years Following Closing Date | Term Loan A Facility | Term Loan Facility
Line of Credit Facility [Line Items]
Debt Instrument, Periodic Payment, Percentage Of Original Principal		1.25%
Remaining Three Years | Term Loan A Facility | Term Loan Facility
Line of Credit Facility [Line Items]
Debt Instrument, Periodic Payment, Percentage Of Original Principal		2.50%
Line of credit
Line of Credit Facility [Line Items]
Debt extinguishment charges			$ 72,300,000
Write off of Deferred Debt Issuance Cost			11,000,000
Gains (Losses) on Extinguishment of Debt			$ 61,300,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) shares in Millions	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Feb. 28, 2016USD ($)shares	Apr. 03, 2016USD ($)	Mar. 29, 2015USD ($)	Apr. 03, 2016USD ($)	Mar. 29, 2015USD ($)	Sep. 27, 2015	Sep. 28, 2014
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Stock-based compensation expense		$ 24,400,000	$ 11,800,000	$ 38,300,000	$ 22,500,000
Restricted shares
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Vesting period				3 years
Performance stock units
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Vesting period				3 years
Vesting percentage relative to net sales				70.00%		70.00%	40.00%
Vesting percentage relative to earnings per share				30.00%		30.00%	60.00%
Performance based compensation percentage, target based				225.00%		225.00%	200.00%
Performance based compensation, peer group based				120.00%		120.00%	125.00%
Stock Option Plan 2008
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Additional shares to the shares limit in common stock | shares	4.8
Shares limit in common stock | shares	41.8
Full value award of shares issued for every one share	2.41
Maximum term of a stock option grant or a stock appreciation right grant				6 years
Stock Option Plan 2008 | Director, non-employee
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Limit of grant date value of award to be granted	$ 400,000
Stock Option Plan 2008 | Board of Directors Chairman, non-employee
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Limit of grant date value of award to be granted	$ 600,000

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Restricted Shares and Performance Stock Units (Details) - $ / shares shares in Millions	Apr. 03, 2016	Dec. 28, 2014
Restricted shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Quantity	1.2	1.2
Weighted average fair value per award (USD per award)	$ 31.72	$ 29.04
Share-based Compensation Arrangement by Share-based Payment Award, Options, Assumed From Acquisition	1.9
Share Based Compensation Arrangement By Share Based Payment Award Options Assumed Weighted Average Exercise Price	$ 29.77
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Quantity	0.3	0.4
Weighted average fair value per award (USD per award)	$ 35.14	$ 27.54

Segment Information (Details)

Segment Information (Details) - segment	3 Months Ended		6 Months Ended
	Apr. 03, 2016	Mar. 29, 2015	Apr. 03, 2016	Mar. 29, 2015
Concentration Risk [Line Items]
Number of segments			1
Geographic concentration risk | Sales revenue, net | Hong Kong
Concentration Risk [Line Items]
Concentration risk, percentage	19.00%	11.00%	17.00%	11.00%

Restructuring and Severance C39

Restructuring and Severance Charges - Restructuring Activities and Accrued Liabilities (Details) $ in Millions	6 Months Ended
	Apr. 03, 2016USD ($)
Restructuring Reserve [Roll Forward]
Beginning Balance	$ 6.2
Assumed from acquisition	3
Provisions	53.6
Reversal of prior provision	(0.2)
Cash expenditures	(23.7)
Other non-cash settlement	(26)
Ending Balance	12.9
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	48.7
Restructuring Reserve [Roll Forward]
Beginning Balance	2.9
Assumed from acquisition	3
Provisions	48.9
Reversal of prior provision	(0.2)
Cash expenditures	(21.7)
Other non-cash settlement	(23.3)
Ending Balance	9.6
Contract Termination Costs
Restructuring Reserve [Roll Forward]
Beginning Balance	3.2
Assumed from acquisition	0
Provisions	1.9
Reversal of prior provision	0
Cash expenditures	(1.6)
Other non-cash settlement	(0.3)
Ending Balance	3.2
Other Associated Costs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	2.8
Restructuring Reserve [Roll Forward]
Beginning Balance	0.1
Assumed from acquisition	0
Provisions	2.8
Reversal of prior provision	0
Cash expenditures	(0.4)
Other non-cash settlement	(2.4)
Ending Balance	0.1
PMC-SIERRA INC. | Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	46.7
PMC-SIERRA INC. | Other Associated Costs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 2.4

Restructuring and Severance C40

Restructuring and Severance Charges - Additional Information (Details) $ in Millions	6 Months Ended
	Apr. 03, 2016USD ($)
Employee Severance
Restructuring Cost and Reserve [Line Items]
Net provisions for restructuring costs	$ 48.7
Other Associated Costs
Restructuring Cost and Reserve [Line Items]
Net provisions for restructuring costs	$ 2.8

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Apr. 03, 2016	Sep. 27, 2015
Commitments and Contingencies Disclosure [Abstract]
Accrued workers' compensation liabilities	$ 1.9	$ 2.3