Skyworks Solutions (SWKS) 10-Q 5 Feb 25 2025 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - $ / shares	3 Months Ended
	Dec. 27, 2024	Jan. 31, 2025
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Dec. 27, 2024
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-05560
Entity Registrant Name	Skyworks Solutions, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-2302115
Entity Address, Address Line One	5260 California Avenue
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92617
City Area Code	(949)
Local Phone Number	231-3000
Title of 12(b) Security	Common Stock, par value $0.25 per share
Trading Symbol	SWKS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		160,741,022
Entity Listing, Par Value Per Share	$ 0.25
Entity Central Index Key	0000004127
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--10-03

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Dec. 27, 2024	Dec. 29, 2023
Income Statement [Abstract]
Net revenue	$ 1,068.5	$ 1,201.5
Cost of goods sold	626.6	694.9
Gross profit	441.9	506.6
Operating expenses:
Research and development	176.4	153.1
Selling, general, and administrative	82.6	78.8
Amortization of intangibles	0.2	0.2
Restructuring, impairment, and other charges	1.6	16.2
Total operating expenses	260.8	248.3
Operating income	181.1	258.3
Interest expense	(6.8)	(10)
Other income, net	16.1	3.4
Income before income taxes	190.4	251.7
Provision for income taxes	28.4	20.4
Net income	$ 162	$ 231.3
Earnings per share:
Basic (in dollars per share)	$ 1.01	$ 1.45
Diluted (in dollars per share)	$ 1	$ 1.44
Weighted average shares:
Basic (in shares)	160.4	159.9
Diluted (in shares)	161.4	161
Common stock, dividends declared (in dollars per share)	$ 0.70	$ 0.68

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Dec. 27, 2024	Dec. 29, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 162	$ 231.3
Other comprehensive income (loss), net of tax:
Fair value of investments	(0.1)	0.1
Pension adjustments	0	(0.2)
Comprehensive income	$ 161.9	$ 231.2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 27, 2024	Sep. 27, 2024
Current assets:
Cash and cash equivalents	$ 1,602.5	$ 1,368.6
Marketable securities, current	136.7	194.1
Receivables, net of allowances of $0.9 and $0.9, respectively	520	508.8
Inventory	699.7	784.8
Other current assets	484.9	484.7
Total current assets	3,443.8	3,341
Property, plant, and equipment, net	1,247	1,280.3
Operating lease right-of-use assets	188.3	191.6
Goodwill	2,176.7	2,176.7
Intangible assets, net	884	900.5
Deferred tax assets, net	303.5	303.5
Marketable securities, noncurrent	15.6	11.4
Other long-term assets	72.2	78.3
Total assets	8,331.1	8,283.3
Current liabilities:
Accounts payable	147.2	171.8
Accrued compensation and benefits	97.8	127.9
Other current liabilities	334.6	303
Total current liabilities	579.6	602.7
Long-term debt	994.7	994.3
Long-term tax liabilities	128.8	127.9
Long-term operating lease liabilities	179	185.9
Other long-term liabilities	48.3	35.8
Total liabilities	1,930.4	1,946.6
Stockholders’ equity:
Preferred stock, no par value: 25.0 shares authorized, no shares issued	0	0
Common stock, $0.25 par value: 525.0 shares authorized; 160.7 shares issued and outstanding at December 27, 2024, and 159.9 shares issued and outstanding at September 27, 2024	40.2	40
Additional paid-in capital	283.7	269.4
Retained earnings	6,082.4	6,032.9
Accumulated other comprehensive loss	(5.6)	(5.6)
Total stockholders’ equity	6,400.7	6,336.7
Total liabilities and stockholders’ equity	$ 8,331.1	$ 8,283.3

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Dec. 27, 2024	Sep. 27, 2024
Current assets:
Receivables, allowance for credit loss	$ 0.9	$ 0.9
Stockholders’ equity:
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized	25	25
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0.25	$ 0.25
Common stock, shares authorized	525	525
Common stock, shares issued	160.7	159.9
Common stock, shares outstanding	160.7	159.9

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Dec. 27, 2024	Dec. 29, 2023
Cash flows from operating activities:
Net income	$ 162	$ 231.3
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation	51.1	53.3
Depreciation	67.6	64.7
Amortization of intangible assets	48.4	48.1
Deferred income taxes	(0.5)	(2.6)
Asset impairment charges	0	16.1
Amortization of debt discount and issuance costs	0.5	1.9
Other, net	(3.1)	(4.4)
Changes in assets and liabilities:
Receivables, net	(11.2)	204.9
Inventory	86.9	192.2
Accounts payable	(19.9)	(18.7)
Other current and long-term assets and liabilities	(4.6)	(11.9)
Net cash provided by operating activities	377.2	774.9
Cash flows from investing activities:
Capital expenditures	(39)	(22.2)
Purchased intangibles	(9.8)	(7.6)
Purchases of marketable securities	(150.7)	(1.1)
Sales and maturities of marketable securities	204.9	3.2
Other	2.1	4.2
Net cash provided by (used in) investing activities	7.5	(23.5)
Cash flows from financing activities:
Repurchase of common stock - payroll tax withholdings on equity awards	(38.3)	(32.7)
Dividends paid	(112.5)	(108.9)
Net proceeds from exercise of stock options	0	1.1
Payments of debt	0	(300)
Net cash used in financing activities	(150.8)	(440.5)
Net increase in cash and cash equivalents	233.9	310.9
Cash and cash equivalents at beginning of period	1,368.6	718.8
Cash and cash equivalents at end of period	1,602.5	1,029.7
Supplemental cash flow disclosures:
Income taxes paid	3.3	5.1
Interest paid	12	15
Incentives paid in common stock	0	1.2
Non-cash investing in capital expenditures, accrued but not paid	30	7.4
Operating lease assets obtained in exchange for new lease liabilities	$ 4	$ 4.9

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss
Common stock, shares outstanding beginning balance (in shares) at Sep. 29, 2023		159.5
Beginning balance at Sep. 29, 2023	$ 6,082.7	$ 39.9	$ 172.4	$ 5,876	$ (5.6)
Net income	231.3			231.3
Exercise and settlement of share-based awards, net of shares withheld for taxes (in shares)		0.7
Exercise and settlement of share-based awards, net of shares withheld for taxes	(30.4)	$ 0.2	(30.6)
Share-based compensation expense	52.6		52.6
Dividends declared	(108.9)			(108.9)
Other comprehensive loss	(0.1)				(0.1)
Common stock, shares outstanding ending balance (in shares) at Dec. 29, 2023		160.2
Ending balance at Dec. 29, 2023	$ 6,227.2	$ 40.1	194.4	5,998.4	(5.7)
Common stock, shares outstanding beginning balance (in shares) at Sep. 27, 2024	159.9	159.9
Beginning balance at Sep. 27, 2024	$ 6,336.7	$ 40	269.4	6,032.9	(5.6)
Net income	162			162
Exercise and settlement of share-based awards, net of shares withheld for taxes (in shares)		0.8
Exercise and settlement of share-based awards, net of shares withheld for taxes	(38.3)	$ 0.2	(38.5)
Share-based compensation expense	52.8		52.8
Dividends declared	$ (112.5)			(112.5)
Common stock, shares outstanding ending balance (in shares) at Dec. 27, 2024	160.7	160.7
Ending balance at Dec. 27, 2024	$ 6,400.7	$ 40.2	$ 283.7	$ 6,082.4	$ (5.6)

Description of Business, Basis

Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies	3 Months Ended
	Dec. 27, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS, BASIS OF PRESENTATION, AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. DESCRIPTION OF BUSINESS, BASIS OF PRESENTATION, AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Skyworks Solutions, Inc., together with its consolidated subsidiaries (“Skyworks” or the “Company”), is a leading developer, manufacturer and provider of analog and mixed-signal semiconductor products and solutions for numerous applications, including aerospace, automotive, broadband, cellular infrastructure, connected home, defense, entertainment and gaming, industrial, medical, smartphone, tablet, and wearables. The accompanying unaudited interim consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial reporting. Certain information and footnote disclosures, normally included in annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), have been condensed or omitted pursuant to those rules and regulations. However, in management’s opinion, the financial information reflects all adjustments, including those of a normal recurring nature, necessary to present fairly the results of operations, financial position, and cash flows of the Company for the periods presented. The results of operations, financial position, and cash flows for the Company during the interim periods are not necessarily indicative of those expected for the full year. This information should be read in conjunction with the Company’s financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the fiscal year ended September 27, 2024, filed with the SEC on November 15, 2024, as amended by Amendment No. 1 to such Annual Report on Form 10-K, filed with the SEC on January 24, 2025 (“2024 10-K”). Certain items in the prior period financial statements have been reclassified to conform to the current period presentation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts of assets, liabilities, revenue, expenses, comprehensive income, and accumulated other comprehensive loss that are reported during the reporting period. The Company evaluates its estimates on an ongoing basis using historical experience and other factors, including the current economic environment. Judgment is required in determining the reserves for, and fair value of, items such as overall fair value assessments of assets and liabilities, particularly those classified as Level 2 or Level 3 in the fair value hierarchy, marketable securities, inventory, intangible assets associated with business combinations, share-based compensation, revenue reserves, loss contingencies, and income taxes. In addition, judgment is required in determining whether a potential indicator of impairment of long-lived assets, indefinite-lived intangible assets, and goodwill exists and in estimating future cash flows for any necessary impairment testing. Actual results could differ significantly from these estimates. The Company’s fiscal year ends on the Friday closest to September 30. The fiscal year ending on October 3, 2025 consists of 53 weeks (“fiscal 2025”). The fiscal year ended on September 27, 2024 consisted of 52 weeks (“fiscal 2024”). The three months ended December 27, 2024, and December 29, 2023, each consisted of 13 weeks. Recently Issued Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosure” (“ASU 2023-07”). ASU 2023-07 requires disclosure of incremental segment information on an annual and interim basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, on a retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2023-07 on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). ASU 2023-09 includes amendments that further enhance income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, on either a prospective or retrospective basis, with early adoption permitted. The Company is currently evaluating the impact of ASU 2023-09 on its consolidated financial statements and related disclosures. In November 2024, the FASB issued ASU 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses” (“ASU 2024-03”). ASU 2024-03 requires disaggregated disclosure of certain expense captions into specified categories in the notes to financial statements on an annual and interim basis. ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim periods within annual periods beginning after December 15, 2027, on either a prospective or retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2024-03 on its consolidated financial statements and related disclosures.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Dec. 27, 2024
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	2. REVENUE RECOGNITION The Company presents net revenue by geographic area, based upon the location of the original equipment manufacturers’ (“OEMs”) headquarters, and by sales channel, as it believes that doing so best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. Individually insignificant OEMs are presented based upon the location of the Company’s direct customer, which is typically a distributor. Net revenue by geographic area is as follows (in millions): Three Months Ended December 27, 2024 December 29, 2023 United States $ 846.7 $ 969.2 China 70.8 79.9 Taiwan 65.1 71.3 South Korea 48.1 45.6 Europe, Middle East, and Africa 28.2 27.1 Other Asia-Pacific 9.6 8.4 Total net revenue $ 1,068.5 $ 1,201.5 Net revenue by sales channel is as follows (in millions): Three Months Ended December 27, 2024 December 29, 2023 Distributors $ 950.8 $ 1,062.9 Direct customers 117.7 138.6 Total net revenue $ 1,068.5 $ 1,201.5

Marketable Securities

Marketable Securities	3 Months Ended
	Dec. 27, 2024
Investments, Debt and Equity Securities [Abstract]
MARKETABLE SECURITIES	3. MARKETABLE SECURITIES The Company’s portfolio of available-for-sale marketable securities consists of the following (in millions): Current Noncurrent December 27, 2024 September 27, 2024 December 27, 2024 September 27, 2024 U.S. Treasury and government securities $ 45.4 $ 39.0 $ 15.5 $ 11.1 Corporate bonds and notes 91.3 155.0 0.1 0.3 Municipal bonds — 0.1 — — Total marketable securities $ 136.7 $ 194.1 $ 15.6 $ 11.4

Fair Value

Fair Value	3 Months Ended
	Dec. 27, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE	4. FAIR VALUE Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis The Company groups its financial assets and liabilities measured at fair value on a recurring basis in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are: • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets with insufficient volume or infrequent transactions (less-active markets), or model-driven valuations in which all significant inputs are observable or can be derived principally from, or corroborated with, observable market data. • Level 3 - Fair value is derived from valuation techniques in which one or more significant inputs are unobservable, including assumptions and judgments made by the Company. Assets and liabilities recorded at fair value on a recurring basis consisted of the following (in millions): As of December 27, 2024 September 27, 2024 Fair Value Measurements Fair Value Measurements Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets Cash and cash equivalents (1) $ 1,602.5 $ 1,418.6 $ 183.9 $ — $ 1,368.6 $ 1,199.1 $ 169.5 $ — U.S. Treasury and government securities 60.9 42.1 18.8 — 50.1 36.5 13.6 — Corporate bonds and notes 91.4 — 91.4 — 155.3 — 155.3 — Municipal bonds — — — — 0.1 — 0.1 — Total assets at fair value $ 1,754.8 $ 1,460.7 $ 294.1 $ — $ 1,574.1 $ 1,235.6 $ 338.5 $ — (1) Cash equivalents included in Levels 1 and 2 consist of money market funds, corporate bonds and notes, and U.S. Treasury and government securities purchased with less than ninety days until maturity. Assets Measured and Recorded at Fair Value on a Nonrecurring Basis The Company’s non-financial assets and liabilities, such as goodwill, intangible assets, and other long-lived assets resulting from business combinations, are measured at fair value using income approach valuation methodologies at the date of acquisition and are subsequently re-measured if there are indicators of impairment. There were no indicators of impairment identified during the three months ended December 27, 2024. During the three months ended December 29, 2023, the Company recorded an impairment charge of $16.1 million related to the abandonment of a previously capitalized in-process research and development (“IPR&D”) project recorded within restructuring, impairment, and other charges. Fair Value of Debt The Company’s debt is carried at amortized cost and is measured at fair value quarterly for disclosure purposes. The estimated fair values are based on Level 2 inputs as the fair value is based on quoted prices for the Company’s debt and comparable instruments in inactive markets. The carrying amount and estimated fair value of debt consists of the following (in millions): As of December 27, 2024 September 27, 2024 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value 1.80% Senior Notes due 2026 $ 498.8 $ 478.5 $ 498.5 $ 478.4 3.00% Senior Notes due 2031 495.9 429.4 495.8 441.2 Total debt under Senior Notes $ 994.7 $ 907.9 $ 994.3 $ 919.6

Inventory

Inventory	3 Months Ended
	Dec. 27, 2024
Inventory, Net [Abstract]
INVENTORY	5. INVENTORY Inventory consists of the following (in millions): As of December 27, 2024 September 27, 2024 Raw materials $ 31.1 $ 30.3 Work-in-process 449.2 520.5 Finished goods 219.4 234.0 Total inventory $ 699.7 $ 784.8

Property, Plant, and Equipment,

Property, Plant, and Equipment, Net	3 Months Ended
	Dec. 27, 2024
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT, AND EQUIPMENT, NET	6. PROPERTY, PLANT, AND EQUIPMENT, NET Property, plant, and equipment, net consists of the following (in millions): As of December 27, 2024 September 27, 2024 Land and improvements $ 11.9 $ 11.9 Buildings and improvements 621.4 610.2 Furniture and fixtures 90.1 81.3 Machinery and equipment 3,419.7 3,418.0 Construction in progress 75.0 88.7 Total property, plant, and equipment, gross 4,218.1 4,210.1 Accumulated depreciation (2,971.1) (2,929.8) Total property, plant, and equipment, net $ 1,247.0 $ 1,280.3

Goodwill And Intangible Assets

Goodwill And Intangible Assets	3 Months Ended
	Dec. 27, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	7. GOODWILL AND INTANGIBLE ASSETS There were no changes to the carrying amount of goodwill during the three months ended December 27, 2024. The Company tests its goodwill and its indefinite-lived intangible assets for impairment annually as of the first day of its fourth fiscal quarter and in interim periods if certain events occur indicating the carrying value may be impaired. There were no indicators of goodwill and IPR&D impairment noted during the three months ended December 27, 2024. Refer to Note 4 for a discussion of an IPR&D impairment of $16.1 million during the three months ended December 29, 2023. Intangible assets consist of the following (in millions): As of Weighted December 27, 2024 September 27, 2024 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Developed technology and other 6.3 $ 1,363.9 $ (565.2) $ 798.7 $ 1,379.6 $ (540.7) $ 838.9 Technology licenses 3.2 106.2 (56.3) 49.9 75.0 (48.8) 26.2 In-process research and development 35.4 — 35.4 35.4 — 35.4 Total intangible assets $ 1,505.5 $ (621.5) $ 884.0 $ 1,490.0 $ (589.5) $ 900.5 Fully amortized intangible assets are eliminated from both the gross and accumulated amortization amounts in the first quarter of each fiscal year. Amortization expense related to definite-lived intangible assets was $48.4 million and $48.1 million for the three months ended December 27, 2024 and December 29, 2023, respectively, primarily recorded within cost of goods sold. Annual amortization expense for the next five fiscal years related to definite-lived intangible assets, excluding IPR&D, is expected to be as follows (in millions): Remaining 2025 2026 2027 2028 2029 Thereafter Amortization expense $ 129.8 $ 149.5 $ 133.5 $ 104.4 $ 87.7 $ 243.7

Income Taxes

Income Taxes	3 Months Ended
	Dec. 27, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	8. INCOME TAXES The provision for income taxes consists of the following components (in millions): Three Months Ended December 27, 2024 December 29, 2023 United States income taxes $ 15.1 $ 12.1 Foreign income taxes 13.3 8.3 Provision for income taxes $ 28.4 $ 20.4 Effective tax rate 14.9 % 8.1 % The difference between the Company’s effective tax rate and the 21.0% United States federal statutory rate for the three months ended December 27, 2024 and December 29, 2023 resulted primarily from foreign earnings taxed at rates lower than the federal statutory rate, a benefit from foreign-derived intangible income deduction (“FDII”), and research and experimentation and foreign tax credits earned, partially offset by a tax on global intangible low-taxed income (“GILTI”), and tax expense related to share-based compensation shortfalls. In August 2022, the U.S. government enacted the Inflation Reduction Act, which imposes a corporate alternative minimum tax (“CAMT”) of 15% on corporations with three-year average annual adjusted financial statement income exceeding $1.0 billion. The Company was subject to the provisions of CAMT beginning in fiscal 2024. CAMT had no impact to the Company’s consolidated financial statements during the three months ended December 27, 2024 and December 29, 2023, respectively. In December 2021, the Organization for Economic Co-operation and Development’s (“OECD”) Inclusive Framework on Base Erosion and Profit Shifting (“BEPS”) released Global Anti-Base Erosion (“GloBE”) rules under Pillar Two. Many countries have implemented laws based on Pillar Two which is effective for the Company beginning in fiscal 2025. Pillar Two did not have a material impact to the Company's consolidated financial statements during the three months ended December 27, 2024.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Dec. 27, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	9. COMMITMENTS AND CONTINGENCIES Legal Matters From time to time, various lawsuits, claims, and proceedings have been, and may in the future be, instituted or asserted against the Company, including those pertaining to patent infringement, intellectual property, environmental hazards, product liability and warranty, safety and health, employment, and contractual matters. The semiconductor industry is characterized by vigorous protection and pursuit of intellectual property rights. From time to time, third parties have asserted and may in the future assert patent, copyright, trademark, and other intellectual property rights to technologies that are important to the Company’s business and have demanded and may in the future demand that the Company license their technology. The outcome of any such litigation cannot be predicted with certainty and some such lawsuits, claims, or proceedings may be disposed of unfavorably to the Company. Generally speaking, intellectual property disputes often have a risk of injunctive relief, which, if imposed against the Company, could materially and adversely affect the Company’s financial condition or results of operations. From time to time the Company may also be involved in legal proceedings in the ordinary course of business. The Company monitors the status of legal proceedings and other contingencies on an ongoing basis to assess whether loss contingencies should be recognized and disclosed in its financial statements and footnotes. The Company does not believe there are any pending legal proceedings that are reasonably possible to result in a material loss. The Company is engaged in various legal actions in the normal course of business and, while there can be no assurances, the Company believes the outcome of all pending litigation involving the Company will not have, individually or in the aggregate, a material adverse effect on its business or financial statements. Guarantees and Indemnities The Company has made no significant contractual guarantees for the benefit of third parties. However, the Company generally indemnifies its customers from third-party intellectual property infringement litigation claims related to its products and, on occasion, also provides other indemnities related to product sales. In connection with certain facility leases, the Company has indemnified its lessors for certain claims arising from the facility or the lease. The Company indemnifies its directors and officers to the maximum extent permitted under the laws of the state of Delaware. The duration of the indemnities varies and in many cases is indefinite. The indemnities to customers in connection with product sales generally are subject to limits based upon the amount of the related product sales and in many cases are subject to geographic and other restrictions. In certain instances, the Company’s indemnities do not provide for any limitation of the maximum potential future payments the Company could be obligated to make. The Company has not recorded any liability for these indemnities in the accompanying consolidated balance sheets and does not expect that such obligations will have a material adverse impact on its financial statements. Purchase Commitments The Company purchases materials primarily pursuant to individual purchase orders, some of which have underlying master purchase agreements. Some of these purchase commitments are cancellable, and some are non-cancelable, depending on the terms with each individual supplier. In the event of cancellation, the Company may be required to pay costs incurred through the date of cancellation or other fees. When cancellation would result in incurring costs or other fees, the Company has historically sought to negotiate amended terms to the original agreements and orders to limit its exposure. As such, the Company believes that purchase commitments as of any particular date may not be a reliable indicator of future liabilities. The Company maintains certain minimum purchase commitments under long-term capacity reservation agreements primarily with foundries for the purchase of wafers. Under these agreements, the Company has agreed to pay a combination of refundable deposits and prepayments to the suppliers in exchange for reserved manufacturing production capacity over the term of the agreemen ts. As of December 27, 2024, the deposits and prepayments under the long-term capacity reservation agreements were $141.7 million and $3.6 million, respectively, recorded within other current assets, and $1.1 million and $23.0 million, respectively, recorded within other long-term assets. As of September 27, 2024, the deposits and prepayments under the long-term capacity reservation agreements were $141.7 million and $3.0 million, respectively, recorded within other current assets, and $1.3 million and $21.8 million, respectively, recorded within other long-term assets.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Dec. 27, 2024
Stockholders' Equity Note [Abstract]
STOCKHOLDERS’ EQUITY	10. STOCKHOLDERS’ EQUITY Stock Repurchase and Retirement On January 31, 2023, the Board of Directors approved a stock repurchase program (“January 31, 2023 stock repurchase program”), pursuant to which the Company was authorized to repurchase up to $2.0 billion of its common stock from time to time through February 1, 2025, on the open market or in privately negotiated transactions, in compliance with applicable securities laws and other legal requirements. During the three months ended December 27, 2024 and December 29, 2023, the Company did not repurchase any shares of its common stock. As of December 27, 2024, $1.9 billion remained available under the January 31, 2023 stock repurchase program. On February 4, 2025, the Board of Directors approved a new stock repurchase program (“February 4, 2025 stock repurchase program”), pursuant to which the Company is authorized to repurchase up to $2.0 billion of its common stock from time to time through February 3, 2027, on the open market or in privately negotiated transactions, in compliance with applicable securities laws and other legal requirements. The February 4, 2025 stock repurchase program succeeds in its entirety the aforementioned January 31, 2023 stock repurchase program. The timing and amount of any shares of the Company’s common stock that are repurchased under the February 4, 2025 stock repurchase program will be determined by the Company’s management based on its evaluation of market conditions and other factors. The February 4, 2025 stock repurchase program may be suspended or discontinued at any time. The Company currently expects to fund the February 4, 2025 stock repurchase program using the Company’s working capital. Dividends On February 5, 2025, the Company announced that the Board of Directors had declared a cash dividend on the Company’s common stock of $0.70 per share. This dividend is payable on March 17, 2025, to the Company’s stockholders of record as of the close of business on February 24, 2025. Future dividends are subject to declaration by the Board of Directors. Dividends charged to retained earnings were as follows (in millions, except per share data): Fiscal Years Ended October 3, 2025 September 27, 2024 Per Share Total Amount Per Share Total Amount First quarter $ 0.70 $ 112.5 $ 0.68 $ 108.9 Share-based Compensation The following table summarizes the share-based compensation expense by line item in the Consolidated Statements of Operations (in millions): Three Months Ended December 27, 2024 December 29, 2023 Cost of goods sold $ 7.3 $ 8.8 Research and development 25.6 25.4 Selling, general, and administrative 18.2 19.1 Total share-based compensation $ 51.1 $ 53.3

Earnings Per Share

Earnings Per Share	3 Months Ended
	Dec. 27, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	11. EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per share (in millions, except per share amounts): Three Months Ended December 27, 2024 December 29, 2023 Net income $ 162.0 $ 231.3 Weighted average shares outstanding – basic 160.4 159.9 Dilutive effect of equity-based awards 1.0 1.1 Weighted average shares outstanding – diluted 161.4 161.0 Net income per share – basic $ 1.01 $ 1.45 Net income per share – diluted $ 1.00 $ 1.44 Anti-dilutive common stock equivalents 0.1 — Basic earnings per share are calculated by dividing net income by the weighted average number of shares of the Company’s common stock outstanding during the period. The calculation of diluted earnings per share includes the dilutive effect of equity-based awards that were outstanding during the three months ended December 27, 2024, and December 29, 2023, using the treasury stock method. Shares issuable upon the vesting of performance stock awards are likewise included in the calculation of diluted earnings per share as of the date the condition(s) have been satisfied, assuming the end of the reporting period was the end of the contingency period. Certain of the Company’s outstanding share-based awards, noted in the table above, were excluded because they were anti-dilutive, but they could become dilutive in the future.

Supplemental Financial Informat

Supplemental Financial Information	3 Months Ended
	Dec. 27, 2024
Condensed Financial Information Disclosure [Abstract]
SUPPLEMENTAL FINANCIAL INFORMATION	12. SUPPLEMENTAL FINANCIAL INFORMATION Other current assets consist of the following (in millions): As of December 27, 2024 September 27, 2024 Prepaid expenses $ 223.1 $ 234.8 Other 261.8 249.9 Total other current assets $ 484.9 $ 484.7 Other current liabilities consist of the following (in millions): As of December 27, 2024 September 27, 2024 Accrued customer liabilities $ 199.4 $ 192.2 Accrued taxes 74.4 52.5 Short-term operating lease liabilities 19.3 20.2 Other 41.5 38.1 Total other current liabilities $ 334.6 $ 303.0

Subsequent Events

Subsequent Events	3 Months Ended
	Dec. 27, 2024
Subsequent Events [Abstract]
Subsequent Events [Text Block]	13. SUBSEQUENT EVENT

Description of Business, Basi_2

Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Dec. 27, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting, Policy	Skyworks Solutions, Inc., together with its consolidated subsidiaries (“Skyworks” or the “Company”), is a leading developer, manufacturer and provider of analog and mixed-signal semiconductor products and solutions for numerous applications, including aerospace, automotive, broadband, cellular infrastructure, connected home, defense, entertainment and gaming, industrial, medical, smartphone, tablet, and wearables. The accompanying unaudited interim consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial reporting. Certain information and footnote disclosures, normally included in annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), have been condensed or omitted pursuant to those rules and regulations. However, in management’s opinion, the financial information reflects all adjustments, including those of a normal recurring nature, necessary to present fairly the results of operations, financial position, and cash flows of the Company for the periods presented. The results of operations, financial position, and cash flows for the Company during the interim periods are not necessarily indicative of those expected for the full year. This information should be read in conjunction with the Company’s financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the fiscal year ended September 27, 2024, filed with the SEC on November 15, 2024, as amended by Amendment No. 1 to such Annual Report on Form 10-K, filed with the SEC on January 24, 2025 (“2024 10-K”). Certain items in the prior period financial statements have been reclassified to conform to the current period presentation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts of assets, liabilities, revenue, expenses, comprehensive income, and accumulated other comprehensive loss that are reported during the reporting period. The Company evaluates its estimates on an ongoing basis using historical experience and other factors, including the current economic environment. Judgment is required in determining the reserves for, and fair value of, items such as overall fair value assessments of assets and liabilities, particularly those classified as Level 2 or Level 3 in the fair value hierarchy, marketable securities, inventory, intangible assets associated with business combinations, share-based compensation, revenue reserves, loss contingencies, and income taxes. In addition, judgment is required in determining whether a potential indicator of impairment of long-lived assets, indefinite-lived intangible assets, and goodwill exists and in estimating future cash flows for any necessary impairment testing. Actual results could differ significantly from these estimates.
Fiscal Period	The Company’s fiscal year ends on the Friday closest to September 30. The fiscal year ending on October 3, 2025 consists of 53 weeks (“fiscal 2025”). The fiscal year ended on September 27, 2024 consisted of 52 weeks (“fiscal 2024”). The three months ended December 27, 2024, and December 29, 2023, each consisted of 13 weeks.
Recently Issued Accounting Pronouncements, Policy	Recently Issued Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosure” (“ASU 2023-07”). ASU 2023-07 requires disclosure of incremental segment information on an annual and interim basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, on a retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2023-07 on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). ASU 2023-09 includes amendments that further enhance income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, on either a prospective or retrospective basis, with early adoption permitted. The Company is currently evaluating the impact of ASU 2023-09 on its consolidated financial statements and related disclosures. In November 2024, the FASB issued ASU 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses” (“ASU 2024-03”). ASU 2024-03 requires disaggregated disclosure of certain expense captions into specified categories in the notes to financial statements on an annual and interim basis. ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim periods within annual periods beginning after December 15, 2027, on either a prospective or retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2024-03 on its consolidated financial statements and related disclosures.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Dec. 27, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue by Geographic Area	Net revenue by geographic area is as follows (in millions): Three Months Ended December 27, 2024 December 29, 2023 United States $ 846.7 $ 969.2 China 70.8 79.9 Taiwan 65.1 71.3 South Korea 48.1 45.6 Europe, Middle East, and Africa 28.2 27.1 Other Asia-Pacific 9.6 8.4 Total net revenue $ 1,068.5 $ 1,201.5
Disaggregation of Revenue by Sales Channel	Net revenue by sales channel is as follows (in millions): Three Months Ended December 27, 2024 December 29, 2023 Distributors $ 950.8 $ 1,062.9 Direct customers 117.7 138.6 Total net revenue $ 1,068.5 $ 1,201.5

Marketable Securities (Tables)

Marketable Securities (Tables)	3 Months Ended
	Dec. 27, 2024
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	The Company’s portfolio of available-for-sale marketable securities consists of the following (in millions): Current Noncurrent December 27, 2024 September 27, 2024 December 27, 2024 September 27, 2024 U.S. Treasury and government securities $ 45.4 $ 39.0 $ 15.5 $ 11.1 Corporate bonds and notes 91.3 155.0 0.1 0.3 Municipal bonds — 0.1 — — Total marketable securities $ 136.7 $ 194.1 $ 15.6 $ 11.4

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Dec. 27, 2024
Fair Value Disclosures [Abstract]
Fair Value Assets and Liabilities Measured on Recurring Basis	Assets and liabilities recorded at fair value on a recurring basis consisted of the following (in millions): As of December 27, 2024 September 27, 2024 Fair Value Measurements Fair Value Measurements Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets Cash and cash equivalents (1) $ 1,602.5 $ 1,418.6 $ 183.9 $ — $ 1,368.6 $ 1,199.1 $ 169.5 $ — U.S. Treasury and government securities 60.9 42.1 18.8 — 50.1 36.5 13.6 — Corporate bonds and notes 91.4 — 91.4 — 155.3 — 155.3 — Municipal bonds — — — — 0.1 — 0.1 — Total assets at fair value $ 1,754.8 $ 1,460.7 $ 294.1 $ — $ 1,574.1 $ 1,235.6 $ 338.5 $ —
Carrying Values and Estimated Fair Values of Debt Instruments	The carrying amount and estimated fair value of debt consists of the following (in millions): As of December 27, 2024 September 27, 2024 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value 1.80% Senior Notes due 2026 $ 498.8 $ 478.5 $ 498.5 $ 478.4 3.00% Senior Notes due 2031 495.9 429.4 495.8 441.2 Total debt under Senior Notes $ 994.7 $ 907.9 $ 994.3 $ 919.6

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Dec. 27, 2024
Inventory, Net [Abstract]
Inventory	Inventory consists of the following (in millions): As of December 27, 2024 September 27, 2024 Raw materials $ 31.1 $ 30.3 Work-in-process 449.2 520.5 Finished goods 219.4 234.0 Total inventory $ 699.7 $ 784.8

Property, Plant, and Equipmen_2

Property, Plant, and Equipment, Net (Tables)	3 Months Ended
	Dec. 27, 2024
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment, Net	Property, plant, and equipment, net consists of the following (in millions): As of December 27, 2024 September 27, 2024 Land and improvements $ 11.9 $ 11.9 Buildings and improvements 621.4 610.2 Furniture and fixtures 90.1 81.3 Machinery and equipment 3,419.7 3,418.0 Construction in progress 75.0 88.7 Total property, plant, and equipment, gross 4,218.1 4,210.1 Accumulated depreciation (2,971.1) (2,929.8) Total property, plant, and equipment, net $ 1,247.0 $ 1,280.3

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Dec. 27, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets Excluding Goodwill	Intangible assets consist of the following (in millions): As of Weighted December 27, 2024 September 27, 2024 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Developed technology and other 6.3 $ 1,363.9 $ (565.2) $ 798.7 $ 1,379.6 $ (540.7) $ 838.9 Technology licenses 3.2 106.2 (56.3) 49.9 75.0 (48.8) 26.2 In-process research and development 35.4 — 35.4 35.4 — 35.4 Total intangible assets $ 1,505.5 $ (621.5) $ 884.0 $ 1,490.0 $ (589.5) $ 900.5
Expected Annual Amortization Expense Related to Intangible Assets for the Next Five Years	Annual amortization expense for the next five fiscal years related to definite-lived intangible assets, excluding IPR&D, is expected to be as follows (in millions): Remaining 2025 2026 2027 2028 2029 Thereafter Amortization expense $ 129.8 $ 149.5 $ 133.5 $ 104.4 $ 87.7 $ 243.7

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Dec. 27, 2024
Income Tax Disclosure [Abstract]
Income Tax Components	The provision for income taxes consists of the following components (in millions): Three Months Ended December 27, 2024 December 29, 2023 United States income taxes $ 15.1 $ 12.1 Foreign income taxes 13.3 8.3 Provision for income taxes $ 28.4 $ 20.4 Effective tax rate 14.9 % 8.1 %

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Dec. 27, 2024
Stockholders' Equity Note [Abstract]
Dividends Declared	Dividends charged to retained earnings were as follows (in millions, except per share data): Fiscal Years Ended October 3, 2025 September 27, 2024 Per Share Total Amount Per Share Total Amount First quarter $ 0.70 $ 112.5 $ 0.68 $ 108.9
Share-Based Compensation Expense	The following table summarizes the share-based compensation expense by line item in the Consolidated Statements of Operations (in millions): Three Months Ended December 27, 2024 December 29, 2023 Cost of goods sold $ 7.3 $ 8.8 Research and development 25.6 25.4 Selling, general, and administrative 18.2 19.1 Total share-based compensation $ 51.1 $ 53.3

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Dec. 27, 2024
Earnings Per Share [Abstract]
Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share (in millions, except per share amounts): Three Months Ended December 27, 2024 December 29, 2023 Net income $ 162.0 $ 231.3 Weighted average shares outstanding – basic 160.4 159.9 Dilutive effect of equity-based awards 1.0 1.1 Weighted average shares outstanding – diluted 161.4 161.0 Net income per share – basic $ 1.01 $ 1.45 Net income per share – diluted $ 1.00 $ 1.44 Anti-dilutive common stock equivalents 0.1 —

Supplemental Financial Inform_2

Supplemental Financial Information (Tables)	3 Months Ended
	Dec. 27, 2024
Condensed Financial Information Disclosure [Abstract]
Other Current Assets	Other current assets consist of the following (in millions): As of December 27, 2024 September 27, 2024 Prepaid expenses $ 223.1 $ 234.8 Other 261.8 249.9 Total other current assets $ 484.9 $ 484.7
Other Current Liabilities	Other current liabilities consist of the following (in millions): As of December 27, 2024 September 27, 2024 Accrued customer liabilities $ 199.4 $ 192.2 Accrued taxes 74.4 52.5 Short-term operating lease liabilities 19.3 20.2 Other 41.5 38.1 Total other current liabilities $ 334.6 $ 303.0

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 27, 2024	Dec. 29, 2023
Disaggregation of Revenue [Line Items]
Revenue by geographic area	$ 1,068.5	$ 1,201.5
Revenue by sales channel	1,068.5	1,201.5
Distributors
Disaggregation of Revenue [Line Items]
Revenue by sales channel	950.8	1,062.9
Direct customers
Disaggregation of Revenue [Line Items]
Revenue by sales channel	117.7	138.6
United States
Disaggregation of Revenue [Line Items]
Revenue by geographic area	846.7	969.2
China
Disaggregation of Revenue [Line Items]
Revenue by geographic area	70.8	79.9
Taiwan
Disaggregation of Revenue [Line Items]
Revenue by geographic area	65.1	71.3
South Korea
Disaggregation of Revenue [Line Items]
Revenue by geographic area	48.1	45.6
Europe, Middle East, and Africa
Disaggregation of Revenue [Line Items]
Revenue by geographic area	28.2	27.1
Other Asia-Pacific
Disaggregation of Revenue [Line Items]
Revenue by geographic area	$ 9.6	$ 8.4

Marketable Securities (Details)

Marketable Securities (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 27, 2024	Sep. 27, 2024
Debt Securities, Available-for-sale [Line Items]
Marketable securities, noncurrent, maximum contractual maturity	2 years
Current assets
Debt Securities, Available-for-sale [Line Items]
Marketable securities, current	$ 136.7	$ 194.1
Noncurrent assets
Debt Securities, Available-for-sale [Line Items]
Marketable securities, noncurrent	15.6	11.4
U.S. Treasury and government securities | Current assets
Debt Securities, Available-for-sale [Line Items]
Marketable securities, current	45.4	39
U.S. Treasury and government securities | Noncurrent assets
Debt Securities, Available-for-sale [Line Items]
Marketable securities, noncurrent	15.5	11.1
Corporate bonds and notes | Current assets
Debt Securities, Available-for-sale [Line Items]
Marketable securities, current	91.3	155
Corporate bonds and notes | Noncurrent assets
Debt Securities, Available-for-sale [Line Items]
Marketable securities, noncurrent	0.1	0.3
Municipal bonds | Current assets
Debt Securities, Available-for-sale [Line Items]
Marketable securities, current	0	0.1
Municipal bonds | Noncurrent assets
Debt Securities, Available-for-sale [Line Items]
Marketable securities, noncurrent	$ 0	$ 0

Fair Value, Fair Value Assets a

Fair Value, Fair Value Assets and Liabilities Measured on Recurring Basis (Details) - Recurring - USD ($) $ in Millions	Dec. 27, 2024	Sep. 27, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	$ 1,754.8	$ 1,574.1
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	1,460.7	1,235.6
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	294.1	338.5
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0	0
Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	1,602.5	1,368.6
Cash and cash equivalents | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	1,418.6	1,199.1
Cash and cash equivalents | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	183.9	169.5
Cash and cash equivalents | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
U.S. Treasury and government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	60.9	50.1
U.S. Treasury and government securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	42.1	36.5
U.S. Treasury and government securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	18.8	13.6
U.S. Treasury and government securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Corporate bonds and notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	91.4	155.3
Corporate bonds and notes | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Corporate bonds and notes | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	91.4	155.3
Corporate bonds and notes | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0.1
Municipal bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Municipal bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0.1
Municipal bonds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	$ 0	$ 0

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 27, 2024	Dec. 29, 2023
Fair Value Disclosures [Abstract]
Asset impairment charges	$ 0	$ 16.1

Fair Value, Carrying Values and

Fair Value, Carrying Values and Estimated Fair Values of Debt Instruments (Details) - USD ($) $ in Millions	Dec. 27, 2024	Sep. 27, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total debt under Senior Notes	$ 994.7	$ 994.3
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total debt, fair value	907.9	919.6
2026 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes, noncurrent	498.8	498.5
2026 Notes | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	478.5	478.4
2031 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes, noncurrent	495.9	495.8
2031 Notes | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 429.4	$ 441.2

Inventory (Details)

Inventory (Details) - USD ($) $ in Millions	Dec. 27, 2024	Sep. 27, 2024
Inventory, Net [Abstract]
Raw materials	$ 31.1	$ 30.3
Work-in-process	449.2	520.5
Finished goods	219.4	234
Total inventory	$ 699.7	$ 784.8

Property, Plant, and Equipmen_3

Property, Plant, and Equipment, Net (Details) - USD ($) $ in Millions	Dec. 27, 2024	Sep. 27, 2024
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment, gross	$ 4,218.1	$ 4,210.1
Accumulated depreciation	(2,971.1)	(2,929.8)
Total property, plant, and equipment, net	1,247	1,280.3
Land and improvements
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment, gross	11.9	11.9
Buildings and improvements
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment, gross	621.4	610.2
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment, gross	90.1	81.3
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment, gross	3,419.7	3,418
Construction in progress
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment, gross	$ 75	$ 88.7

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 27, 2024	Dec. 29, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, period increase (decrease)	$ 0
Goodwill, impairment loss	0
Finite-Lived Intangible Assets [Line Items]
Asset impairment charges	0	$ 16.1
Amortization of intangible assets	48.4	48.1
In-process research and development
Finite-Lived Intangible Assets [Line Items]
Asset impairment charges	$ 0	$ 16.1

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Intangible Assets Excluding Goodwill (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 27, 2024	Sep. 27, 2024
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ (621.5)	$ (589.5)
Total intangible assets, gross carrying amount	1,505.5	1,490
Total intangible assets, net carrying amount	$ 884	900.5
Developed technology and other
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period (years)	6 years 3 months 18 days
Finite-lived intangible assets, gross	$ 1,363.9	1,379.6
Accumulated amortization	(565.2)	(540.7)
Net carrying amount	$ 798.7	838.9
Technology licenses
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period (years)	3 years 2 months 12 days
Finite-lived intangible assets, gross	$ 106.2	75
Accumulated amortization	(56.3)	(48.8)
Net carrying amount	49.9	26.2
In-process research and development
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets, gross	35.4	35.4
Accumulated amortization	0	0
Net carrying amount	$ 35.4	$ 35.4

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Expected Annual Amortization Expense Related to Intangible Assets for the Next Five Years (Details) $ in Millions	Dec. 27, 2024 USD ($)
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract]
Remaining 2025	$ 129.8
2026	149.5
2027	133.5
2028	104.4
2029	87.7
Thereafter	$ 243.7

Income Taxes, Income Tax Compon

Income Taxes, Income Tax Components (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 27, 2024	Dec. 29, 2023
Income Tax Disclosure [Abstract]
United States income taxes	$ 15.1	$ 12.1
Foreign income taxes	13.3	8.3
Provision for income taxes	$ 28.4	$ 20.4
Effective tax rate	14.90%	8.10%

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Dec. 27, 2024	Dec. 29, 2023
Income Tax Disclosure [Abstract]
US federal statutory income tax rate	21%	21%

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Dec. 27, 2024	Sep. 27, 2024
Recorded Unconditional Purchase Obligation [Line Items]
Prepaid expenses, current	$ 223.1	$ 234.8
Wafer Purchases
Recorded Unconditional Purchase Obligation [Line Items]
Deposits assets, current	141.7	141.7
Prepaid expenses, current	3.6	3
Deposits assets, noncurrent	1.1	1.3
Prepaid expenses, noncurrent	$ 23	$ 21.8

Stockholders' Equity, Stock Rep

Stockholders' Equity, Stock Repurchase (Details) - USD ($) $ in Millions	Feb. 03, 2027	Feb. 01, 2025	Feb. 04, 2025	Dec. 27, 2024	Jan. 31, 2023
2023 stock repurchase program
Equity, Class of Treasury Stock [Line Items]
Authorized amount for stock repurchase					$ 2,000
Remaining amount authorized for stock repurchase				$ 1,900
Subsequent event | 2023 stock repurchase program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program expiration date		Feb. 01, 2025
Subsequent event | 2025 stock repurchase program
Equity, Class of Treasury Stock [Line Items]
Authorized amount for stock repurchase			$ 2,000
Stock repurchase program expiration date	Feb. 03, 2027

Stockholders' Equity, Dividends

Stockholders' Equity, Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Millions				3 Months Ended
	Mar. 17, 2025	Feb. 24, 2025	Feb. 05, 2025	Dec. 27, 2024	Dec. 29, 2023
Dividends Payable [Line Items]
Common stock, dividends declared (in dollars per share)				$ 0.70	$ 0.68
Payments of ordinary dividends				$ 112.5	$ 108.9
Subsequent event | Q2 Dividends declared
Dividends Payable [Line Items]
Dividend declaration date			Feb. 05, 2025
Common stock, dividends declared and payable (in dollars per share)			$ 0.70
Dividend payment date	Mar. 17, 2025
Dividend record date		Feb. 24, 2025

Stockholders' Equity, Share-Bas

Stockholders' Equity, Share-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 27, 2024	Dec. 29, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 51.1	$ 53.3
Cost of goods sold
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	7.3	8.8
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	25.6	25.4
Selling, general, and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 18.2	$ 19.1

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Dec. 27, 2024	Dec. 29, 2023
Earnings Per Share [Abstract]
Net income	$ 162	$ 231.3
Weighted average shares outstanding - basic (in shares)	160.4	159.9
Dilutive effect of equity-based awards (in shares)	1	1.1
Weighted average shares outstanding - diluted (in shares)	161.4	161
Basic (in dollars per share)	$ 1.01	$ 1.45
Diluted (in dollars per share)	$ 1	$ 1.44
Anti-dilutive common stock equivalents (in shares)	0.1	0

Supplemental Financial Inform_3

Supplemental Financial Information (Details) - USD ($) $ in Millions	Dec. 27, 2024	Sep. 27, 2024
Condensed Financial Information Disclosure [Abstract]
Prepaid expenses	$ 223.1	$ 234.8
Other	261.8	249.9
Total other current assets	484.9	484.7
Accrued customer liabilities	199.4	192.2
Accrued taxes	74.4	52.5
Short-term operating lease liabilities	19.3	20.2
Other	41.5	38.1
Total other current liabilities	$ 334.6	$ 303

Subsequent Events (Details)

Subsequent Events (Details) - Chief Executive Officer - Subsequent event $ in Thousands	Feb. 04, 2025 USD ($) shares
Subsequent Event [Line Items]
Postemployment Benefits, Period Expense | $	$ 20,000
2025 Restricted Stock
Subsequent Event [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Accelerated Vesting, Number | shares	5,934