0001260221-24-000021 | 10-Q | XBRL Viewer

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SEGMENTS - Reconciliation of EBITDA Defined by Segment to Consolidated Income from Continuing Operations Before Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 30, 2023	Dec. 31, 2022
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
EBITDA As Defined	$ 912	$ 699
Interest expense-net	300	286
Non-cash stock and deferred compensation expense	51	35
Refinancing costs	0	4
Other, net	(1)	(1)
Income from operations before income taxes	488	301
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
EBITDA As Defined	957	727
Operating Segments \| Power & Control
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
EBITDA As Defined	509	401
Operating Segments \| Airframe
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
EBITDA As Defined	431	312
Operating Segments \| Non-aviation
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
EBITDA As Defined	17	14
Corporate, Non-Segment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
EBITDA As Defined	45	28
Segment Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Depreciation and amortization expense	71	63
Interest expense-net	(300)	(286)
Acquisition and divestiture transaction-related expenses	2	3
Non-cash stock and deferred compensation expense	51	35
Refinancing costs	0	4
Other, net	$ 0	$ 7

ACQUISITIONS - CPI Electron Device Business (Details) - USD ($) $ in Millions		3 Months Ended
	Nov. 09, 2023	Dec. 30, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired		$ 14	$ 10
CPI Electron Device Business
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 1,385

DERIVATIVES AND HEDGING ACTIVITIES

3 Months Ended

Dec. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVES AND HEDGING ACTIVITIES

The Company is exposed to, among other things, the impact of changes in foreign currency exchange rates and interest rates in the normal course of business. The Company’s risk management program is designed to manage the exposure and volatility arising from these risks, and utilizes derivative financial instruments to offset a portion of these risks. The Company uses derivative financial instruments only to the extent necessary to hedge identified business risks and does not enter into such transactions for trading purposes. The Company generally does not require collateral or other security with counterparties to these financial instruments and is therefore subject to credit risk in the event of nonperformance; however, the Company monitors credit risk and currently does not anticipate nonperformance by other parties. These derivative financial instruments do not subject the Company to undue risk, as gains and losses on these instruments generally offset gains and losses on the underlying assets, liabilities, or anticipated transactions that are being hedged. The Company has agreements with each of its swap, cap and collar counterparties that contain a provision whereby if the Company defaults on the Credit Agreement, the Company could also be declared in default on its swaps, cap and collars resulting in an acceleration of payment under the swaps, cap and collars.

All derivative financial instruments are recorded at fair value in the condensed consolidated balance sheets. For a derivative that has not been designated as an accounting hedge, the change in the fair value is recognized immediately through earnings. For a derivative that has been designated as an accounting hedge of an existing asset or liability (a fair value hedge), the change in the fair value of both the derivative and underlying asset or liability is recognized immediately through earnings. For a derivative designated as an accounting hedge of an anticipated transaction (a cash flow hedge), the change in the fair value is recorded on the condensed consolidated balance sheets in accumulated other comprehensive loss to the extent the derivative is effective in mitigating the exposure related to the anticipated transaction. The change in the fair value related to the ineffective portion of the hedge, if any, is immediately recognized in earnings. The amount recorded within accumulated other comprehensive loss is reclassified into earnings in the same period during which the underlying hedged transaction affects earnings.

Interest Rate Swap, Cap and Collar Agreements – Interest rate swap, cap and collar agreements are used to manage interest rate risk associated with floating rate borrowings under our Credit Agreement. These agreements involve the receipt of floating rate amounts in exchange for fixed rate interest payments over the term of the agreements without an exchange of the underlying principal amount. The agreements utilized by the Company effectively modify the Company’s exposure to interest rate risk by converting a portion of the Company’s floating rate debt to a fixed rate basis from the effective date through the maturity date of the respective interest rate swap, cap and collar agreements, thereby reducing the impact of interest rate movements on future interest expense.

During the second quarter of fiscal 2023, we entered into LIBOR to Term SOFR basis interest rate swap and cap transactions to effectively convert our existing swaps and cap from LIBOR-based to Term SOFR-based. The basis swaps and cap offset the LIBOR exposure of the existing swaps and cap and effectively fix the Term SOFR rate for the notional amount. We also entered into forward starting interest rate collar agreements during the second quarter of fiscal 2023. The interest rate collar agreements establish a range where we will pay the counterparties if the three-month Term SOFR rate falls below the established floor rate of 2.0%, and the counterparties will pay us if the three-month Term SOFR rate exceeds the ceiling rate of 3.5%. The collar will settle quarterly from the effective date through the maturity date. No payments or receipts will be exchanged on the interest rate collar contracts unless interest rates rise above or fall below the contracted ceiling or floor rates.

The tables below summarize the key terms of the swaps, cap and collars as of December 30, 2023 (aggregated by effective date).

Interest rate swap agreements:

Aggregate Notional Amount (in millions)

Effective Date

Maturity Date

Conversion of Related Variable Rate Debt subject to Term SOFR to Fixed Rate of:

$400

3/31/2023

6/28/2024

6.25% (3.0% plus the 3.25% margin percentage)

$900

3/31/2023

6/28/2024

6.35% (3.1% plus the 3.25% margin percentage)

$500

3/31/2023

3/31/2025

6.25% (3.0% plus the 3.25% margin percentage)

$1,500

3/31/2023

3/31/2025

6.35% (3.1% plus the 3.25% margin percentage)

$700

3/31/2023

9/30/2025

4.55% (1.3% plus the 3.25% margin percentage)

Interest rate cap agreement:

Aggregate Notional Amount (in millions)

Effective Date

Maturity Date

Offsets Variable Rate Debt Attributable to Fluctuations Above:

$700

3/31/2023

9/30/2025

Three-month Term SOFR rate of 1.25%

Interest rate collar agreements:

Aggregate Notional Amount (in millions)

Effective Date

Maturity Date

Offsets Variable Rate Debt Attributable to Fluctuations Below and Above:

$1,100

3/31/2025

9/30/2026

Three-month Term SOFR rate of 2.00% (floor) and 3.50% (cap)

$500

9/30/2025

9/30/2026

Three-month Term SOFR rate of 2.00% (floor) and 3.50% (cap)

These derivative instruments qualify as effective cash flow hedges under U.S. GAAP. For the LIBOR to Term SOFR basis interest rate swap and cap agreements referenced above, we applied the practical expedients permissible under ASC 848 to continue hedge accounting for our existing swaps and cap as effective cash flow hedges. For our cash flow hedges, the effective portion of the gain or loss from the financial instruments is initially reported as a component of accumulated other comprehensive loss in stockholders’ deficit and subsequently reclassified into earnings in the same line as the hedged item in the same period or periods during which the hedged item affects earnings. As the interest rate swap, cap and collar agreements are used to manage interest rate risk, any gains or losses from the derivative instruments that are reclassified into earnings are recognized in interest expense-net in the condensed consolidated statements of income. Cash flows related to the derivative contracts are included in cash flows from operating activities on the condensed consolidated statements of cash flows.

Certain derivative asset and liability balances are offset where master netting agreements provide for the legal right of setoff. For classification purposes, we record the net fair value of each type of derivative position that is expected to settle in less than one year with each counterparty as a net current asset or liability and each type of long-term position as a net non-current asset or liability. The amounts shown in the table below represent the gross amounts of recognized assets and liabilities, the amounts offset in the condensed consolidated balance sheets and the net amounts of assets and liabilities presented therein (in millions):


	December 30, 2023				September 30, 2023
	Asset		Liability		Asset		Liability
Interest rate cap agreement	$	39	$	1	$	53	$	1
Interest rate collar agreements	4		—		17		—
Interest rate swap agreements	95		3		144		3
Net derivatives as classified in the condensed consolidated balance sheets (1)	$	138	$	4	$	214	$	4

(1)Refer to Note 9, “Fair Value Measurements,” for the condensed consolidated balance sheets classification of the Company's interest rate swap, cap and collar agreements.

Based on the fair value amounts determined as of December 30, 2023, the estimated net amount of existing (gains) losses and caplet amortization expected to be reclassified into interest expense-net within the next twelve months is approximately ($71) million.

Foreign Currency Forward Exchange Contracts – The Company transacts business in various foreign currencies, which subjects the Company’s cash flows and earnings to exposure related to changes in foreign currency exchange rates. These exposures arise primarily from purchases or sales of products and services from third parties. Foreign currency forward exchange contracts provide for the purchase or sale of foreign currencies at specified future dates at specified exchange rates, and are used to offset changes in the fair value of certain assets or liabilities or forecasted cash flows resulting from transactions denominated in foreign currencies. At December 30, 2023, the Company has outstanding foreign currency forward exchange contracts to sell U.S. dollars with notional amounts of $124 million. The maximum duration of the Company’s foreign currency cash flow hedge contracts at December 30, 2023 is nine months. These notional values consist of contracts for the Canadian dollar and the euro and are stated in U.S. dollar equivalents at spot exchange rates at the respective trade dates. Amounts related to foreign currency forward exchange contracts included in accumulated other comprehensive loss in stockholders' deficit are reclassified into net sales when the hedged transaction settles.

During the thirteen week period ended December 30, 2023, the losses reclassified on settlements of foreign currency forward exchange contracts designated as cash flow hedges into net sales was approximately $1 million. The losses were previously recorded as a component of accumulated other comprehensive loss in stockholders' deficit. As of December 30, 2023, the Company expects to record a net loss of less than $1 million on foreign currency forward exchange contracts designated as cash flow hedges to net sales over the next twelve months.

SEGMENTS - Schedule of Net Sales by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 30, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
NET SALES	$ 1,789	$ 1,397
Operating Segments \| Power & Control
Segment Reporting Information [Line Items]
NET SALES	885	725
Operating Segments \| Airframe
Segment Reporting Information [Line Items]
NET SALES	862	637
Operating Segments \| Non-aviation
Segment Reporting Information [Line Items]
NET SALES	42	35
Commercial and non-aerospace OEM \| Operating Segments \| Power & Control
Segment Reporting Information [Line Items]
NET SALES	177	152
Commercial and non-aerospace OEM \| Operating Segments \| Airframe
Segment Reporting Information [Line Items]
NET SALES	272	201
Commercial and non-aerospace aftermarket \| Operating Segments \| Power & Control
Segment Reporting Information [Line Items]
NET SALES	296	242
Commercial and non-aerospace aftermarket \| Operating Segments \| Airframe
Segment Reporting Information [Line Items]
NET SALES	324	238
Defense \| Operating Segments \| Power & Control
Segment Reporting Information [Line Items]
NET SALES	412	331
Defense \| Operating Segments \| Airframe
Segment Reporting Information [Line Items]
NET SALES	$ 266	$ 198

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

+ Details

REVENUE RECOGNITION - Contract Assets and Liabilities (Details) - USD ($)
$ in Millions

3 Months Ended

Dec. 30, 2023

Sep. 30, 2023

Schedule of Contract Assets and Liabilities [Line Items]

Contract with Customer, Asset, after Allowance for Credit Loss

$ 196

$ 192

Contract with Customer, Liability

Net Contract Asset

105

ContractWithCustomer Liability, Revenue Recognized, Excluding Opening Balance

Prepaid Expenses and Other Current Assets

Schedule of Contract Assets and Liabilities [Line Items]

Contract with Customer, Asset, Net, Current

^[1]

196

191

Other Noncurrent Assets

Schedule of Contract Assets and Liabilities [Line Items]

Contract with Customer, Asset, Net, Noncurrent

^[2]

Accrued and Other Current Liabilities

Schedule of Contract Assets and Liabilities [Line Items]

Contract with Customer, Liability, Current

^[3]

Other Noncurrent Liabilities

Schedule of Contract Assets and Liabilities [Line Items]

Contract with Customer, Liability, Noncurrent

^[4]

$ 7

$ 8

[1]	Included in prepaid expenses and other on the condensed consolidated balance sheets.
[2]	Included in other non-current assets on the condensed consolidated balance sheets.
[3]	Included in accrued and other current liabilities on the condensed consolidated balance sheets.
[4]	Included in other non-current liabilities on the condensed consolidated balance sheets.

SEGMENTS

3 Months Ended

Dec. 30, 2023

Segment Reporting [Abstract]

SEGMENTS

The Company’s businesses are organized and managed in three reporting segments: Power & Control, Airframe and Non-aviation.

The Power & Control segment includes operations that primarily develop, produce and market systems and components that predominately provide power to or control power of the aircraft utilizing electronic, fluid, power and mechanical motion control technologies. Major product offerings include mechanical/electromechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, batteries and chargers, databus and power controls, advanced sensor products, switches and relay panels, high performance hoists, winches and lifting devices, and cargo loading, handling and delivery systems. Primary customers of this segment are engine and power system and subsystem suppliers, airlines, third party maintenance suppliers, military buying agencies and repair depots. Products are sold in the original equipment and aftermarket market channels.

The Airframe segment includes operations that primarily develop, produce and market systems and components that are used in non-power airframe applications utilizing airframe and cabin structure technologies. Major product offerings include engineered latching and locking devices, engineered rods, engineered connectors and elastomer sealing solutions, cockpit security components and systems, specialized and advanced cockpit displays, engineered audio, radio and antenna systems, specialized lavatory components, seat belts and safety restraints, engineered and customized interior surfaces and related components, thermal protection and insulation, lighting and control technology, parachutes and specialized flight, wind tunnel and jet engine testing services and equipment. Primary customers of this segment are airframe manufacturers and cabin system suppliers and subsystem suppliers, airlines, third party maintenance suppliers, military buying agencies and repair depots. Products are sold in the original equipment and aftermarket market channels.

The Non-aviation segment includes operations that primarily develop, produce and market products for non-aviation markets. Major product offerings include seat belts and safety restraints for ground transportation applications, mechanical/electromechanical actuators and controls for space applications, hydraulic/electromechanical actuators and fuel valves for land-based gas turbines, and refueling systems for heavy equipment used in mining, construction and other industries and turbine controls for the energy and oil and gas markets. Primary customers of this segment are off-road vehicle suppliers and subsystem suppliers, child restraint system suppliers, satellite and space system suppliers, manufacturers of heavy equipment used in mining, construction and other industries and turbine original equipment manufacturers, gas pipeline builders and electric utilities.

The primary measurement used by management to review and assess the operating performance of each segment is EBITDA As Defined. The Company defines EBITDA As Defined as earnings before interest, taxes, depreciation and amortization plus certain non-operating items recorded as corporate expenses including non-cash compensation charges incurred in connection with the Company’s stock incentive or deferred compensation plans, foreign currency gains and losses, acquisition-integration costs, acquisition and divestiture transaction-related expenses, and refinancing costs. Acquisition and divestiture-related costs represent accounting adjustments to inventory associated with acquisitions of businesses and product lines that were charged to cost of sales when the inventory was sold; costs incurred to integrate acquired businesses and product lines into the Company’s operations, facility relocation costs and other acquisition-related costs; transaction-related costs for both acquisitions and divestitures comprising deal fees; legal, financial and tax diligence expenses and valuation costs that are required to be expensed as incurred and other acquisition accounting adjustments.

EBITDA As Defined is not a measurement of financial performance under U.S. GAAP. Although the Company uses EBITDA As Defined to assess the performance of its business and for various other purposes, the use of this non-GAAP financial measure as an analytical tool has limitations, and it should not be considered in isolation or as a substitute for analysis of the Company’s results of operations as reported in accordance with U.S. GAAP.

The Company’s segments are reported on the same basis used internally for evaluating performance and for allocating resources. The accounting policies for each segment are the same as those described in the summary of significant accounting policies in the Company’s consolidated financial statements. Intersegment sales and transfers are recorded at values based on market prices, which creates intercompany profit on intersegment sales or transfers that is eliminated in consolidation. Intersegment sales were immaterial for the periods presented below. Corporate consists of our corporate offices. Corporate expenses consist primarily of compensation, benefits, professional services and other administrative costs incurred by the corporate offices. Corporate assets consist primarily of cash and cash equivalents. Corporate expenses and assets reconcile reportable segment data to the consolidated totals. An immaterial amount of corporate expenses is allocated to the operating segments.

The following table presents net sales by reportable segment (in millions):


	Thirteen Week Periods Ended
		December 30, 2023		December 31, 2022
Net sales to external customers
Power & Control
Commercial and non-aerospace OEM		$	177	$	152
Commercial and non-aerospace aftermarket		296		242
Defense		412		331
Total Power & Control		885		725

Airframe
Commercial and non-aerospace OEM		272		201
Commercial and non-aerospace aftermarket		324		238
Defense		266		198
Total Airframe		862		637

Total Non-aviation		42		35

Net Sales		$	1,789	$	1,397

The following table reconciles EBITDA As Defined by segment to consolidated income from operations before income taxes (in millions):


	Thirteen Week Periods Ended
		December 30, 2023		December 31, 2022
EBITDA As Defined
Power & Control		$	509	$	401
Airframe		431		312
Non-aviation		17		14
Total segment EBITDA As Defined		957		727
Less: Unallocated corporate EBITDA As Defined		45		28
Total Company EBITDA As Defined		912		699
Depreciation and amortization expense		71		63
Interest expense-net		300		286
Acquisition and divestiture transaction-related expenses		2		3
Non-cash stock and deferred compensation expense		51		35
Refinancing costs		—		4
Other, net		—		7
Income from operations before income taxes		$	488	$	301

The following table presents total assets by segment (in millions):


	December 30, 2023		September 30, 2023
Total assets
Power & Control	$	7,440	$	7,315
Airframe	9,083		8,972
Non-aviation	228		234
Corporate	3,934		3,449
	$	20,685	$	19,970

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Paragraph 15
-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 40
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

ACQUISITIONS (Tables)

3 Months Ended

Dec. 30, 2023

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

The allocation of the estimated fair value of assets acquired and liabilities assumed in the Calspan acquisition as of the May 8, 2023 acquisition date, as well as measurement period adjustments recorded within the permissible one year measurement period, are summarized in the table below (in millions):


	Preliminary		Measurement Period		Adjusted Preliminary
	Allocation		Adjustments (2)		Allocation
Assets acquired (excluding cash):
Trade accounts receivable	$	39	$	—	$	39
Inventories	2		—		2
Prepaid expenses and other	40		—		40
Property, plant and equipment	105		278		383
Goodwill	367		(122)		245		(1)
Other intangible assets	243		(151)		92		(1)
Other non-current assets	7		—		7
Total assets acquired (excluding cash)	803		5		808
Liabilities assumed:
Accounts payable	10		(1)		9
Accrued and other current liabilities	50		—		50
Deferred income taxes	8		5		13
Other non-current liabilities	6		—		6
Total liabilities assumed	74		4		78
Net assets acquired	$	729	$	1	$	730

(1)Of the approximately $245 million of goodwill recognized for the acquisition, the Company expects that approximately $218 million will be deductible for tax purposes. Of the approximately $92 million of other intangible assets recognized for the acquisition, the Company expects that approximately $86 million will be deductible for tax purposes. The goodwill and intangible assets are expected to be deductible over 15 years.

(2)Measurement period adjustments primarily related to the adjustments in the fair values of the acquired property, plant and equipment and other intangible assets from the third-party valuation. A substantial portion of the measurement period adjustments to property, plant and equipment relates to the fair value of the transonic wind tunnel. The offset to the measurement period adjustments was to goodwill.

INTANGIBLE ASSETS - Summary of Changes in Carrying Value of Goodwill (by Segment) (Details)	3 Months Ended
	Dec. 30, 2023 USD ($)
Goodwill [Roll Forward]
Balance at September 30, 2023	$ 8,988,000,000
Goodwill acquired during the period	6,000,000
Purchase price allocation adjustments	1,000,000
Currency translation adjustments and other	41,000,000
Balance at December 30, 2023	9,036,000,000
Power & Control
Goodwill [Roll Forward]
Balance at September 30, 2023	4,194,000,000
Goodwill acquired during the period	6,000,000
Purchase price allocation adjustments	0
Currency translation adjustments and other	22,000,000
Balance at December 30, 2023	4,222,000,000
Airframe
Goodwill [Roll Forward]
Balance at September 30, 2023	4,701,000,000
Goodwill acquired during the period	0
Purchase price allocation adjustments	1,000,000
Currency translation adjustments and other	19,000,000
Balance at December 30, 2023	4,721,000,000
Non-aviation
Goodwill [Roll Forward]
Balance at September 30, 2023	93,000,000
Goodwill acquired during the period	0
Purchase price allocation adjustments	0
Currency translation adjustments and other	0
Balance at December 30, 2023	$ 93,000,000

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

INVENTORIES - Schedule of Inventories (Details) - USD ($) $ in Millions	Dec. 30, 2023	Sep. 30, 2023
Inventory Disclosure [Abstract]
Raw materials and purchased component parts	$ 1,208	$ 1,144
Work-in-progress	480	455
Finished goods	235	226
Total	1,923	1,825
Reserves for excess and obsolete inventory	(215)	(209)
Inventories—Net	$ 1,708	$ 1,616

DEBT - Additional Debt Instruments (Details) - USD ($) $ in Millions		3 Months Ended
	Nov. 28, 2023	Dec. 30, 2023	Sep. 30, 2023	Jul. 25, 2023
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount (Premium), Net		$ 61	$ 56
Long Term Debt, Principal Amount, Guaranteed		200
Finance lease obligations		254	193
Asset-backed Securities
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount (Premium), Net		$ 0	0
Debt Instrument, Term		1 year
Tranche J Term Loans
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,000
Original Issue Discount Rate	0.25%
Debt Instrument, Unamortized Discount (Premium), Net	$ 3
Debt Instrument, Periodic Payment, Principal	$ 3
Debt Issuance Costs, Gross		$ 10
Tranche J Term Loans \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Interest rate	3.25%
Senior Secured Notes $1,000M due 2031 7.125%
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,000
Interest rate	7.125%
Debt Issuance Costs, Gross		10
Debt Instrument, Redemption Price, Percentage	99.25%
Debt Instrument, Unamortized Discount	$ 8
Securitization Facility
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		350		$ 450
Long-Term Line of Credit		$ 100
Debt, Weighted Average Interest Rate		6.99%
Securitization Facility \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Interest rate				1.60%
Government refundable advances
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount (Premium), Net		$ 0	0
Government refundable advances		21	21
Finance Lease Obligations
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount (Premium), Net		0	0
Finance lease obligations		$ 254	$ 193

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Dec. 30, 2023	Dec. 31, 2022
OPERATING ACTIVITIES:
NET INCOME	$ 382	$ 229
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	36	29
Amortization of intangible assets and product certification costs	35	34
Amortization of debt issuance costs, original issue discount and premium	11	9
Amortization of inventory step-up	1	2
Amortization of loss contract reserves	(5)	(12)
Refinancing costs	0	4
Non-cash stock and deferred compensation expense	51	35
Foreign currency exchange losses	14	18
Changes in assets/liabilities, net of effects from acquisitions and sales of businesses:
Trade accounts receivable	94	121
Inventories	(78)	(89)
Income taxes payable	94	77
Other assets	3	(2)
Accounts payable	(21)	(13)
Accrued interest	82	3
Accrued and other liabilities	(63)	(68)
Net cash provided by operating activities	636	377
INVESTING ACTIVITIES:
Capital expenditures	(36)	(31)
Acquisition of businesses, net of cash acquired	(14)	(10)
Net cash used in investing activities	(50)	(41)
FINANCING ACTIVITIES:
Proceeds from exercise of stock options	52	27
Dividends and dividend equivalent payments	(2,038)	(38)
Proceeds from issuance of senior secured notes, net	983	0
Proceeds from term loans, net	988	1,690
Proceeds from trade receivable securitization facility, net	100	0
Repayment on term loans	(16)	(1,739)
Financing costs and other, net	(2)	(5)
Net cash provided by (used in) financing activities	67	(65)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	10	16
NET INCREASE IN CASH AND CASH EQUIVALENTS	663	287
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	3,472	3,001
CASH AND CASH EQUIVALENTS, END OF PERIOD	4,135	3,288
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the period for interest, net	205	272
Cash paid (refunded) during the period for income taxes, net of refunds	$ 11	$ (2)

INTANGIBLE ASSETS - Aggregate Amortization Expense on Identifiable Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 30, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
AMORTIZATION OF INTANGIBLE ASSETS	$ 35	$ 34

INCOME TAXES	3 Months Ended
INCOME TAXES	Dec. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES At the end of each reporting period, TD Group makes an estimate of its annual effective income tax rate. The estimate used in the year-to-date period may change in subsequent periods. During the thirteen week periods ended December 30, 2023 and December 31, 2022, the effective income tax rate was 21.7% and 23.9%, respectively. The Company’s lower effective income tax rate for the thirteen week period ended December 30, 2023, was primarily due to a more significant discrete impact of excess tax benefits associated with share-based payments. The Company's effective income tax rate for the thirteen week period ended December 30, 2023 was slightly higher than the federal statutory tax rate of 21% primarily due to an increase in the valuation allowance applicable to the Company's net interest deduction limitation carryforward, offset by the discrete impact of excess tax benefits associated with share-based payments. The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and various state, local and foreign jurisdictions. The Company is no longer subject to U.S. federal examinations for years before fiscal 2018. The Company is currently under examination for its federal income taxes in Canada for fiscal years 2013 through 2019, in France for fiscal years 2020 through 2022, and in Germany for fiscal years 2014 through 2019. In addition, the Company is subject to state income tax examinations for fiscal years 2015 and later. Unrecognized tax benefits at December 30, 2023 and September 30, 2023, the recognition of which would have an impact on the effective tax rate for each fiscal year, amounted to $17 million. The Company classifies all income tax-related interest and penalties as income tax expense, which were not significant for the thirteen week periods ended December 30, 2023 and December 31, 2022. As of December 30, 2023 and September 30, 2023, the Company accrued $6 million for the potential payment of interest and penalties. Within the next twelve months, it is reasonably possible that unrecognized tax benefits could be reduced by approximately $6 million resulting from the resolution or closure of tax examinations. Any increase in the amount of unrecognized tax benefits within the next

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

INTANGIBLE ASSETS - Intangible Assets Subject to Amortization (Details) - USD ($) $ in Millions	Dec. 30, 2023	Sep. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	$ 3,803	$ 3,782
Intangible Assets, Accumulated Amortization	1,070	1,035
Total	2,733	2,747
Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,138	2,124
Accumulated Amortization	917	888
Net	1,221	1,236
Order backlog
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2	7
Accumulated Amortization	2	6
Net	0	1
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	631	623
Accumulated Amortization	146	136
Net	485	487
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	10	9
Accumulated Amortization	5	5
Net	5	4
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets (Excluding Goodwill), Gross	1,022	1,019
Intangible Assets (Excluding Goodwill), Net	$ 1,022	$ 1,019

BASIS OF PRESENTATION (Policies)	3 Months Ended
BASIS OF PRESENTATION (Policies)	Dec. 30, 2023
Quarterly Financial Information Disclosure [Abstract]
Principles of Consolidation	Principles of Consolidation The financial information included herein is unaudited; however, the information reflects all adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary for a fair presentation of the Company’s condensed consolidated financial statements for the interim periods presented. These financial statements and notes should be read in conjunction with the financial statements and related notes for the fiscal year ended September 30, 2023 included in TD Group’s Annual Report on Form 10-K filed on November 9, 2023. As disclosed therein, the Company’s annual consolidated financial statements were prepared in conformity with generally accepted accounting principles in the United States (“U.S. GAAP”). The September 30, 2023 condensed consolidated balance sheet was derived from TD Group’s audited financial statements. The results of operations for the thirteen week period ended December 30, 2023 are not necessarily indicative of the results to be expected for the full year.
Reclassifications	Reclassifications Certain reclassifications have been made to the prior year amounts to conform to the current year presentation, none of which are material.
New Accounting Pronouncements Issued	New Accounting Pronouncements Issued In October 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-06, “Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative,” to amend certain disclosure and presentation requirements for a variety of topics within the ASC. These amendments align the requirements in the ASC to the removal of certain disclosure requirements set out in Regulation S-X and Regulation S-K, announced by the SEC. The effective date for each amended topic in the ASC is either the date on which the SEC’s removal of the related disclosure requirement from Regulation S-X or Regulation S-K becomes effective, or on June 30, 2027, if the SEC has not removed the requirements by that date. Early adoption is prohibited. The Company does not expect that the application of this standard will have an impact on our condensed consolidated financial statements and disclosures. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” ASU 2023-07 expands disclosures about a public business entity's reportable segments and provides for more detailed information about a reportable segment's expenses. Additionally, ASU 2023-07 requires all segment profit or loss and assets disclosures to be provided on an annual and interim basis. This standard is effective for annual periods beginning after December 15, 2023 and interim periods within fiscal years beginning one year later. Early adoption is permitted. The Company is currently evaluating this standard to determine its impact on our disclosures. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which requires a public business entity to disclose specific categories in its annual effective tax rate reconciliation and disaggregated information about significant reconciling items by jurisdiction and by nature. The ASU also requires entities to disclose their income tax payments (net of refunds) to international, federal, and state and local jurisdictions. The standard makes several other changes to income tax disclosure requirements. This standard is effective for annual periods beginning after December 15, 2024, and requires prospective application with the option to apply it retrospectively. Early adoption is permitted. The Company is currently evaluating this standard to determine its impact on our disclosures.

DEBT - Schedule of Debt (Details) - USD ($)

Dec. 30, 2023

Sep. 30, 2023

Debt Instrument [Line Items]

Gross Amount

$ 21,608,000,000

$ 19,563,000,000

Debt Issuance Costs

(120,000,000)

(106,000,000)

Original Issue (Discount) or Premium

(61,000,000)

(56,000,000)

Short-term borrowings—trade receivable securitization facility

449,000,000

349,000,000

Long-term Debt

21,427,000,000

19,401,000,000

Finance lease obligations

254,000,000

193,000,000

Current portion of long-term debt

81,000,000

71,000,000

Long-term Debt, Gross and Lease Obligation

21,527,000,000

19,492,000,000

Deferred Finance Costs, Excluding Current Maturities

(120,000,000)

(106,000,000)

Debt Instrument, Unamortized Discount, Excluding Current Maturities

(61,000,000)

(56,000,000)

LONG-TERM DEBT

21,346,000,000

19,330,000,000

Term loans

Debt Instrument [Line Items]

Gross Amount

7,233,000,000

6,249,000,000

Debt Issuance Costs

(29,000,000)

(22,000,000)

Original Issue (Discount) or Premium

(47,000,000)

(48,000,000)

Long-term Debt

^[1]

$ 7,157,000,000

$ 6,179,000,000

Senior Subordinated Notes | Senior Subordinated Notes $550M Due 2027 7.50%

Debt Instrument [Line Items]

Interest rate

7.50%

Gross Amount

$ 550,000,000

Debt Issuance Costs

(2,000,000)

Original Issue (Discount) or Premium

Long-term Debt

^[1]

$ 548,000,000

Senior Subordinated Notes | Senior Subordinated Notes $2650M Due 2027 5.50%

Debt Instrument [Line Items]

Interest rate

5.50%

Gross Amount

$ 2,650,000,000

Debt Issuance Costs

(12,000,000)

Original Issue (Discount) or Premium

Long-term Debt

^[1]

$ 2,638,000,000

Senior Subordinated Notes | Senior Subordinated Notes $1200M Due 2029 4.625%

Debt Instrument [Line Items]

Interest rate

4.625%

Gross Amount

$ 1,200,000,000

Debt Issuance Costs

(7,000,000)

Original Issue (Discount) or Premium

Long-term Debt

^[1]

$ 1,193,000,000

Senior Subordinated Notes | Senior Subordinated Notes $750M due 2029 4.875%

Debt Instrument [Line Items]

Interest rate

4.875%

Gross Amount

$ 750,000,000

Debt Issuance Costs

(5,000,000)

Original Issue (Discount) or Premium

Long-term Debt

^[1]

$ 745,000,000

745,000,000

Secured Debt | Senior Secured Notes $4.4B Due 2026 6.25%

Debt Instrument [Line Items]

Interest rate

6.25%

Gross Amount

$ 4,400,000,000

4,400,000,000

Debt Issuance Costs

(23,000,000)

(25,000,000)

Original Issue (Discount) or Premium

2,000,000

Long-term Debt

^[1]

$ 4,379,000,000

4,377,000,000

Secured Debt | Senior Secured Notes $2,100M due 2028 6.75%

Debt Instrument [Line Items]

Interest rate

6.75%

Gross Amount

$ 2,100,000,000

Debt Issuance Costs

(18,000,000)

Original Issue (Discount) or Premium

(9,000,000)

Long-term Debt

^[1]

$ 2,073,000,000

2,071,000,000

Secured Debt | Senior Secured Notes $1,450M due 2030 6.875%

Debt Instrument [Line Items]

Interest rate

6.875%

Gross Amount

$ 1,450,000,000

Debt Issuance Costs

(14,000,000)

Original Issue (Discount) or Premium

Long-term Debt

$ 1,436,000,000

Secured Debt | Senior Secured Notes $1,000M due 2031 7.125%

Debt Instrument [Line Items]

Interest rate

7.125%

Gross Amount

$ 1,000,000,000

Debt Issuance Costs

(10,000,000)

Original Issue (Discount) or Premium

(7,000,000)

Long-term Debt

^[1]

983,000,000

Secured Debt | Senior Secured Notes $2,100M due 2028

Debt Instrument [Line Items]

Gross Amount

2,100,000,000

Debt Issuance Costs

(19,000,000)

Original Issue (Discount) or Premium

(10,000,000)

Long-term Debt

2,071,000,000

Secured Debt | Senior Secured Notes $1,450M due 2030

Debt Instrument [Line Items]

Gross Amount

1,450,000,000

Debt Issuance Costs

(14,000,000)

Original Issue (Discount) or Premium

Long-term Debt

^[1]

1,436,000,000

Government refundable advances

Debt Instrument [Line Items]

Debt Issuance Costs

Original Issue (Discount) or Premium

Long-term Debt

21,000,000

Government refundable advances

21,000,000

Finance Lease Obligations

Debt Instrument [Line Items]

Debt Issuance Costs

Original Issue (Discount) or Premium

Long-term Debt

254,000,000

193,000,000

Finance lease obligations

254,000,000

193,000,000

Less: current portion

Debt Instrument [Line Items]

Debt Issuance Costs

Original Issue (Discount) or Premium

Long-term Debt, Current Maturities, Gross

81,000,000

71,000,000

Current portion of long-term debt

81,000,000

71,000,000

Asset-backed Securities

Debt Instrument [Line Items]

Debt Issuance Costs

(1,000,000)

Original Issue (Discount) or Premium

Short-term borrowings—trade receivable securitization facility, Gross

450,000,000

350,000,000

Short-term borrowings—trade receivable securitization facility

^[1]

$ 449,000,000

$ 349,000,000

[1]	The carrying amount of the debt instrument is presented net of debt issuance costs, premium and discount. Refer to Note 7, “Debt,” for gross carrying amounts.

INTANGIBLE ASSETS

3 Months Ended

Dec. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

Other intangible assets–net in the condensed consolidated balance sheets consist of the following (in millions):


	December 30, 2023						September 30, 2023
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Trademarks and trade names	$	1,022	$	—	$	1,022	$	1,019	$	—	$	1,019
Technology	2,138		917		1,221		2,124		888		1,236
Order backlog	2		2		—		7		6		1
Customer relationships	631		146		485		623		136		487
Other	10		5		5		9		5		4
Total	$	3,803	$	1,070	$	2,733	$	3,782	$	1,035	$	2,747

The aggregate amortization expense on identifiable intangible assets is approximately $35 million and $34 million for the thirteen week periods ended December 30, 2023 and December 31, 2022, respectively.

As disclosed in Note 2, “Acquisitions,” the estimated fair value of the net identifiable tangible and intangible assets acquired is based on the acquisition method of accounting. The fair value of the net identifiable tangible and intangible assets acquired will be finalized within the measurement period (not to exceed one year). Intangible assets acquired during the thirteen week period ended December 30, 2023 are summarized in the table below (in millions):


	Gross Amount		Amortization Period
Intangible assets not subject to amortization:
Goodwill	$	6

	6
Intangible assets subject to amortization:
Technology	2		20 years

Customer relationships	1		20 years
	3
Total	$	9

The following is a summary of changes in the carrying value of goodwill by segment from September 30, 2023 through December 30, 2023 (in millions):


	Power & Control		Airframe		Non-aviation		Total
Balance at September 30, 2023	$	4,194	$	4,701	$	93	$	8,988
Goodwill acquired during the period (Note 2)	6		—		—		6
Purchase price allocation adjustments (1)	—		1		—		1
Currency translation adjustments and other	22		19		—		41
Balance at December 30, 2023	$	4,222	$	4,721	$	93	$	9,036

(1)Related to the opening balance sheet adjustments recorded from the acquisition of Calspan completed during fiscal year 2023, up to the expiration of the measurement period (not to exceed one year). Refer to Note 2, “Acquisitions,” for further information.

The Company performs its annual impairment test for goodwill and other intangible assets as of the first day of the fourth fiscal quarter of each year, or more frequently, if events or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. We have assessed the changes in events and circumstances through the first quarter of fiscal 2024 and concluded that no triggering events occurred that required interim quantitative testing.

FAIR VALUE MEASUREMENTS

3 Months Ended

Dec. 30, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

The following table presents our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs (other than quoted prices) that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.

The following summarizes the carrying amounts and fair values of financial instruments (in millions):


		December 30, 2023				September 30, 2023
	Level	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash and cash equivalents	1	$	4,135	$	4,135	$	3,472	$	3,472
Interest rate swap agreements (1)	2	75		75		103		103
Interest rate swap agreements (2)	2	20		20		41		41
Interest rate cap agreements (2)	2	39		39		53		53
Interest rate collar agreements (2)	2	4		4		17		17
Liabilities:
Foreign currency forward exchange contracts (3)	2	—		—		5		5
Interest rate swap agreements (4)	2	3		3		3		3
Interest rate cap agreements (4)	2	1		1		1		1
Short-term borrowings - trade receivable securitization facility (5)	2	449		449		349		349
Long-term debt, including current portion:
Term loans (5)	2	7,157		7,216		6,179		6,212
2026 Secured Notes (5)	1	4,379		4,378		4,377		4,329
7.50% 2027 Notes (5)	1	548		552		548		549
5.50% 2027 Notes (5)	1	2,638		2,607		2,638		2,484
2028 Secured Notes (5)	1	2,073		2,137		2,071		2,069
4.625% 2029 Notes (5)	1	1,193		1,116		1,193		1,047
4.875% 2029 Notes (5)	1	745		698		745		654
2030 Secured Notes (5)	1	1,436		1,494		1,436		1,423
2031 Secured Notes (5)	1	983		1,051		—		—
Government refundable advances	2	21		21		21		21
Finance lease obligations	2	254		254		193		193

(1)Included in prepaid expenses and other on the condensed consolidated balance sheets.

(2)Included in other non-current assets on the condensed consolidated balance sheets.

(3)Included in accrued and other current liabilities on the condensed consolidated balance sheets.

(4)Included in other non-current liabilities on the condensed consolidated balance sheets.

(5)The carrying amount of the debt instrument is presented net of debt issuance costs, premium and discount. Refer to Note 7, “Debt,” for gross carrying amounts.

The Company values its financial instruments using an industry standard market approach, in which prices and other relevant information are generated by market transactions involving identical or comparable assets or liabilities. No financial instruments were recognized or disclosed using unobservable inputs (i.e., Level 3).

The Company’s derivatives consist of interest rate swap, cap and collar agreements and foreign currency exchange contracts. The fair values of the interest rate swap, cap and collar agreements were derived by taking the net present value of the expected cash flows using observable market inputs (Level 2) such as SOFR rate curves, futures, volatilities and basis spreads (when applicable). The fair values of the foreign currency exchange contracts were derived by using Level 2 inputs based on observable spot and forward exchange rates in active markets. There has not been any impact to the fair value of derivative liabilities due to the Company's own credit risk. Similarly, there has not been any material impact to the fair value of derivative assets based on the Company's evaluation of counterparties' credit risks.

The estimated fair value of the Company’s term loans was based on information provided by the agent under the Company’s Credit Agreement. The estimated fair values of the Company’s notes were based upon quoted market prices.

The fair value of cash and cash equivalents, trade accounts receivable-net and accounts payable approximated carrying value due to the short-term nature of these instruments at December 30, 2023 and September 30, 2023.

REVENUE RECOGNITION - Allowance for Credit Losses (Details) - USD ($) $ in Millions	Dec. 30, 2023	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Accounts Receivable, Allowance for Credit Loss, Current	$ (33)	$ (31)

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

3 Months Ended

Dec. 30, 2023

Equity [Abstract]

Schedule of Reclassifications out of Accumulated Other Comprehensive Loss

The following table presents the total changes by component in accumulated other comprehensive loss (“AOCI”), net of taxes, for the thirteen week periods ended December 30, 2023 and December 31, 2022 (in millions):


	Unrealized (losses) gains on derivatives (1)		Pension and post-retirement benefit plans adjustment (2)		Foreign currency translation adjustment (3)		Total
Balance at September 30, 2023	$	143	$	2	$	(243)	$	(98)


Net current-period other comprehensive (loss) income (4)	(53)		—		91		38
Balance at December 30, 2023	$	90	$	2	$	(152)	$	(60)

Balance at September 30, 2022	$	123	$	(10)	$	(380)	$	(267)


Net current-period other comprehensive income (4)	22		—		137		159
Balance at December 31, 2022	$	145	$	(10)	$	(243)	$	(108)

(1)Represents unrealized (losses) gains on derivatives designated and qualifying as cash flow hedges, net of taxes, of ($18) million and $7 million for the thirteen week periods ended December 30, 2023 and December 31, 2022, respectively.

(2)There were no material pension liability adjustments, net of taxes, related to activity on the defined pension plan and postretirement benefit plan for the thirteen week periods ended December 30, 2023 and December 31, 2022.

(3)Represents gains (losses) resulting from foreign currency translation of financial statements, including gains (losses) from certain intercompany transactions, into U.S. dollars at the rates of exchange in effect at the balance sheet dates.

(4)Presented net of reclassifications out of AOCI into earnings, specifically net sales and interest expense-net, for realized (losses) gains on derivatives designated and qualifying as cash flow hedges of ($1) million (net of taxes of less than ($1) million) and $28 million (net of taxes of $9 million), respectively, for the thirteen week period ended December 30, 2023 and ($1) million (net of taxes of less than ($1) million) and $6 million (net of taxes of $2 million), respectively, for the thirteen week period ended December 31, 2022.

ACCUMULATED OTHER COMPREHENSIVE LOSS

3 Months Ended

Dec. 30, 2023

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS


	Unrealized (losses) gains on derivatives (1)		Pension and post-retirement benefit plans adjustment (2)		Foreign currency translation adjustment (3)		Total
Balance at September 30, 2023	$	143	$	2	$	(243)	$	(98)


Net current-period other comprehensive (loss) income (4)	(53)		—		91		38
Balance at December 30, 2023	$	90	$	2	$	(152)	$	(60)

Balance at September 30, 2022	$	123	$	(10)	$	(380)	$	(267)


Net current-period other comprehensive income (4)	22		—		137		159
Balance at December 31, 2022	$	145	$	(10)	$	(243)	$	(108)

ACQUISITIONS

3 Months Ended

Dec. 30, 2023

Business Combinations [Abstract]

ACQUISITIONS

CPI Electron Device Business – On November 9, 2023, the Company entered into a definitive agreement to acquire the Electron Device Business of Communications & Power Industries (“CPI”), a portfolio company of TJC, L.P., for approximately $1,385 million in cash. CPI’s Electron Device Business is a leading global manufacturer of electronic components and subsystems primarily serving the aerospace and defense market. Its products are highly engineered, proprietary components with significant aftermarket content and a strong presence across major aerospace and defense platforms. The acquisition is expected to close in fiscal 2024, subject to regulatory approvals in the United States (“U.S.”) and United Kingdom and customary closing conditions. The acquisition is expected to be financed through existing cash on hand, inclusive of a portion of the cash proceeds from the new long-term debt issued in the first quarter of fiscal 2024. Refer to Note 7, “Debt,” for further disclosure of the aforementioned debt issuances.

Calspan Corporation – On March 14, 2023, the Company entered into a definitive agreement to acquire all the outstanding stock of Calspan Corporation (“Calspan”) for a total purchase price of $730 million, which includes a $1 million working capital settlement paid in the first quarter of fiscal 2024. The acquisition was completed on May 8, 2023 and financed through existing cash on hand. Calspan operates from seven primary facilities within the U.S. and is a leading independent provider of proprietary highly engineered testing and technology development services and systems primarily for the aerospace and defense industry. Calspan’s state of the art transonic wind tunnel is used across a range of important aftermarket-focused development activities for both the commercial and defense aerospace end markets. The services and systems are primarily proprietary with significant aftermarket content. Calspan's operating results are included within TransDigm's Airframe segment as of the May 8, 2023 acquisition date.

As of December 30, 2023, the measurement period (not to exceed one year) is open; therefore, the assets acquired and liabilities assumed related to the Calspan acquisition are subject to adjustment until the end of the respective measurement period.

The Company is in the process of finalizing a third-party valuation of property, plant and equipment and certain intangible assets of Calspan. The allocation of the purchase price is preliminary and will likely change in future periods, perhaps materially, as fair value estimates of the assets acquired and liabilities assumed are finalized, including those related to deferred taxes and income taxes. We utilized both the cost and market approaches to value property, plant and equipment, which consider external transactions and other comparable transactions, estimated replacement and reproduction costs, and estimated useful lives and consideration for physical, functional and economic obsolescence. The fair values of acquired intangibles are determined based on an income approach, using estimates and assumptions that are deemed reasonable by the Company. Significant assumptions include the discount rates and certain assumptions that form the basis of the forecasted results of the acquired business including revenue, earnings before interest, taxes, depreciation and amortization (“EBITDA”), growth rates, royalty rates and technology obsolescence rates. These assumptions are forward looking and could differ from future economic and market conditions.

Pro forma net sales and results of operations for the Calspan acquisition had it occurred at the beginning of the thirteen week period ended December 31, 2022 are not material and, accordingly, are not provided.


	Preliminary		Measurement Period		Adjusted Preliminary
	Allocation		Adjustments (2)		Allocation
Assets acquired (excluding cash):
Trade accounts receivable	$	39	$	—	$	39
Inventories	2		—		2
Prepaid expenses and other	40		—		40
Property, plant and equipment	105		278		383
Goodwill	367		(122)		245		(1)
Other intangible assets	243		(151)		92		(1)
Other non-current assets	7		—		7
Total assets acquired (excluding cash)	803		5		808
Liabilities assumed:
Accounts payable	10		(1)		9
Accrued and other current liabilities	50		—		50
Deferred income taxes	8		5		13
Other non-current liabilities	6		—		6
Total liabilities assumed	74		4		78
Net assets acquired	$	729	$	1	$	730

Extant Aerospace Acquisitions – For the thirteen week period ended December 30, 2023, the Company's Extant Aerospace subsidiary, which is included within TransDigm’s Power & Control segment, completed an acquisition of substantially all of the assets and technical data rights of a certain product line, which met the definition of a business, for a total purchase price of $13 million. The allocation of the purchase price remains preliminary and will likely change, though not materially, in future periods up to the expiration of the respective one year measurement period as fair value estimates of the assets acquired and liabilities assumed are finalized. The Company expects that all of the approximately $6 million of goodwill and $3 million of other intangible assets recognized for the acquisition will be deductible for tax purposes over 15 years.

For the fiscal year ended September 30, 2023, the Company's Extant Aerospace subsidiary, completed a series of acquisitions of substantially all of the assets and technical data rights of certain product lines, each meeting the definition of a business, for a total purchase price of $24 million. The allocation of the purchase price remains preliminary and will likely change, though not materially, in future periods up to the expiration of the respective one year measurement period as fair value estimates of the assets acquired and liabilities assumed are finalized. The Company expects that all of the approximately $12 million of goodwill and $6 million of other intangible assets recognized for the acquisitions will be deductible for tax purposes over 15 years.

Pro forma net sales and results of operations for the Extant Aerospace product line acquisitions, had they occurred at the beginning of the thirteen week periods ended December 30, 2023 or December 31, 2022 are not material and, accordingly, are not provided.

The acquisitions completed by the Company strengthen and expand the Company’s position to design, produce and supply highly engineered proprietary aerospace components in niche markets with significant aftermarket content and provide opportunities to create value through the application of our three core value-driven operating strategy (obtaining profitable new business, continually improving our cost structure, and providing highly engineered value-added products to customers). The purchase prices paid reflect the current EBITDA and cash flows, as well as the future EBITDA and cash flows expected to be generated by the businesses, which are driven in most cases by the recurring aftermarket consumption over the life of a particular aircraft, estimated to be approximately 25 to 30 years.

COMMITMENTS AND CONTINGENCIES - Narratives (Details) $ in Millions	Dec. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Recommended Voluntary Refund	$ 21.0

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 30, 2023 shares
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	true
Non-Rule 10b5-1 Arrangement Adopted	false
Adoption Date	December 11, 2023
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Kevin Stein [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On December 11, 2023, Kevin Stein, the Company’s President, Chief Executive Officer and Director, entered into a new “Rule 10b5-1 trading arrangement” (as defined in Item 408 of Regulation S-K) for the sale of 60,000 shares of common stock issuable upon the exercise of vested options intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act, which Rule 10b5-1 trading arrangement is scheduled to begin on March 12, 2024 and terminate no later than December 31, 2024.
Name	Kevin Stein
Title	President, Chief Executive Officer and Director
Arrangement Duration	294 days
Aggregate Available	60,000

REVENUE RECOGNITION

3 Months Ended

Dec. 30, 2023

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

TransDigm's sales are concentrated in the aerospace and defense industry. The Company’s customers include: distributors of aerospace components, commercial airlines, large commercial transport and regional and business aircraft original equipment manufacturers (“OEMs”), various armed forces of the U.S. and friendly foreign governments, defense OEMs, system suppliers, and various other industrial customers.

The Company recognizes revenue from contracts with customers using the five step model prescribed in ASC 606. A substantial portion of the Company's revenue is recorded at a point in time basis. Revenue is recognized from the sale of products or services when obligations under the terms of the contract are satisfied and control of promised goods or services have transferred to the customer. Control is transferred when the customer has the ability to direct the use of and obtain benefits from the goods or services. Revenue is measured at the amount of consideration the Company expects to be paid in exchange for goods or services.

In certain contracts, control transfers to the customer over time, primarily in contracts where the customer is required to pay for the cost of both the finished and unfinished goods at the time of cancellation plus a reasonable profit relative to the work performed for products that were customized for the customer. Therefore, we recognize revenue over time for those agreements that have a right to margin and where the products being produced have no alternative use.

Based on our production cycle, it is generally expected that goods related to the revenue will be shipped and billed within twelve months. For revenue recognized over time, we estimate the amount of revenue attributable to a contract earned at a given point during the production cycle based on certain costs, such as materials and labor incurred to date, plus the expected profit, which is a cost-to-cost input method.

We consider the contractual consideration payable by the customer and assess variable consideration that may affect the total transaction price. Variable consideration is included in the estimated transaction price when there is a basis to reasonably estimate the amount, including whether the estimate should be constrained in order to avoid a significant reversal of revenue in a future period. These estimates are based on historical experience, anticipated performance under the terms of the contract and our best judgment at the time.

When contracts are modified to account for changes in contract specifications and requirements, the Company considers whether the modification either creates new or changes the existing enforceable rights and obligations. Contract modifications that are for goods or services that are not distinct from the existing contract, due to the significant integration with the original good or service provided, are accounted for as if they were part of that existing contract. The effect of a contract modification to an existing contract on the transaction price and our measure of progress for the performance obligation to which it relates, is recognized as an adjustment to revenue on a cumulative catch-up basis. When the modifications include additional performance obligations that are distinct and at relative stand-alone selling price, they are accounted for as a new contract and performance obligation, which are recognized prospectively.

The Company’s payment terms vary by the type and location of the customer and the products or services offered. The Company does not offer any payment terms that would meet the requirements for consideration as a significant financing component.

Shipping and handling fees and costs incurred in connection with products sold are recorded in cost of sales in the consolidated statements of income, and are not considered a performance obligation to our customers.

The Company pays sales commissions that relate to contracts for products or services that are satisfied at a point in time or over a period of one year or less and are expensed as incurred. These costs are reported as a component of selling and administrative expenses in the condensed consolidated statements of income.

Contract Assets and Liabilities – Contract assets reflect revenue recognized and performance obligations satisfied in advance of customer billing or reimbursable costs related to a specific contract. Contract liabilities (Deferred revenue) relate to payments received in advance of the satisfaction of performance under the contract. We receive payments from customers based on the terms established in our contracts. The following table summarizes our contract assets and liabilities balances (in millions):


	December 30, 2023		September 30, 2023
Contract assets, current (1)	$	196	$	191
Contract assets, non-current (2)	—		1
Total contract assets	196		192
Contract liabilities, current (3)	92		79
Contract liabilities, non-current (4)	7		8
Total contract liabilities	99		87
Net contract assets	$	97	$	105

(1)Included in prepaid expenses and other on the condensed consolidated balance sheets.

(2)Included in other non-current assets on the condensed consolidated balance sheets.

(3)Included in accrued and other current liabilities on the condensed consolidated balance sheets.

(4)Included in other non-current liabilities on the condensed consolidated balance sheets.

The increase in the Company's total contract assets at December 30, 2023 compared to September 30, 2023 is primarily due to the timing and status of work in process and/or milestones of certain contracts. The increase in the Company's total contract liabilities at December 30, 2023 compared to September 30, 2023 is primarily due to the receipt of advance payments. For the thirteen week period ended December 30, 2023, the revenue recognized that was previously included in contract liabilities was approximately $9 million.

Refer to Note 11, “Segments,” for disclosures related to the disaggregation of revenue.

Allowance for Credit Losses – The Company's allowance for credit losses is the allowance for uncollectible accounts. The allowance for uncollectible accounts reduces the trade accounts receivable balance to the estimated net realizable value equal to the amount that is expected to be collected.

The Company’s method for developing its allowance for credit losses is based on historical write-off experience, the aging of receivables, an assessment of the creditworthiness of customers, economic conditions and other external market information and supportable forward-looking information. The allowance also incorporates a provision for the estimated impact of disputes with customers. All provisions for allowances for uncollectible accounts are included in selling and administrative expenses. The determination of the amount of the allowance for uncollectible accounts is subject to judgment and estimation by management. If circumstances change or economic conditions deteriorate or improve, the allowance for uncollectible accounts could increase or decrease.

As of December 30, 2023 and September 30, 2023, the allowance for uncollectible accounts was $33 million and $31 million, respectively. The allowance for uncollectible accounts is assessed individually at each operating unit by the operating unit’s management team.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Dec. 30, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
NET INCOME ATTRIBUTABLE TO TD GROUP	$ 382	$ 228

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
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Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
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Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

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-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (SX 210.5-03(20))
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Dec. 30, 2023

Fair Value Disclosures [Abstract]

Carrying Amounts and Fair Values of Financial Instruments


		December 30, 2023				September 30, 2023
	Level	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash and cash equivalents	1	$	4,135	$	4,135	$	3,472	$	3,472
Interest rate swap agreements (1)	2	75		75		103		103
Interest rate swap agreements (2)	2	20		20		41		41
Interest rate cap agreements (2)	2	39		39		53		53
Interest rate collar agreements (2)	2	4		4		17		17
Liabilities:
Foreign currency forward exchange contracts (3)	2	—		—		5		5
Interest rate swap agreements (4)	2	3		3		3		3
Interest rate cap agreements (4)	2	1		1		1		1
Short-term borrowings - trade receivable securitization facility (5)	2	449		449		349		349
Long-term debt, including current portion:
Term loans (5)	2	7,157		7,216		6,179		6,212
2026 Secured Notes (5)	1	4,379		4,378		4,377		4,329
7.50% 2027 Notes (5)	1	548		552		548		549
5.50% 2027 Notes (5)	1	2,638		2,607		2,638		2,484
2028 Secured Notes (5)	1	2,073		2,137		2,071		2,069
4.625% 2029 Notes (5)	1	1,193		1,116		1,193		1,047
4.875% 2029 Notes (5)	1	745		698		745		654
2030 Secured Notes (5)	1	1,436		1,494		1,436		1,423
2031 Secured Notes (5)	1	983		1,051		—		—
Government refundable advances	2	21		21		21		21
Finance lease obligations	2	254		254		193		193

(1)Included in prepaid expenses and other on the condensed consolidated balance sheets.

(2)Included in other non-current assets on the condensed consolidated balance sheets.

(3)Included in accrued and other current liabilities on the condensed consolidated balance sheets.

(4)Included in other non-current liabilities on the condensed consolidated balance sheets.

(5)The carrying amount of the debt instrument is presented net of debt issuance costs, premium and discount. Refer to Note 7, “Debt,” for gross carrying amounts.

EARNINGS PER SHARE (Tables)

3 Months Ended

Dec. 30, 2023

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in millions, except per share data) using the two-class method:


	Thirteen Week Periods Ended
		December 30, 2023		December 31, 2022
Numerator for earnings per share:
Net income		$	382	$	229
Less: Net income attributable to noncontrolling interests		—		(1)
Net income attributable to TD Group		382		228
Less: Dividends paid on participating securities (1)		(101)		(38)

Net income applicable to TD Group common stockholders—basic and diluted		$	281	$	190
Denominator for basic and diluted earnings per share under the two-class method:
Weighted-average common shares outstanding		55.4		54.4
Vested options deemed participating securities		2.3		2.7
Total shares for basic and diluted earnings per share		57.7		57.1


Earnings per share—basic and diluted		$	4.87	$	3.33

(1)Represents dividend equivalent payments in the first quarter of fiscal 2024 and 2023 of approximately $101 million, of which $18 million was accrued as of September 30, 2023 and the remaining $83 million was associated with the November 2023 $35.00 dividend declaration, and $38 million, respectively.

REVENUE RECOGNITION (Tables)

3 Months Ended

Dec. 30, 2023

Revenue from Contract with Customer [Abstract]

Contract with Customer, Asset and Liability [Table Text Block]


	December 30, 2023		September 30, 2023
Contract assets, current (1)	$	196	$	191
Contract assets, non-current (2)	—		1
Total contract assets	196		192
Contract liabilities, current (3)	92		79
Contract liabilities, non-current (4)	7		8
Total contract liabilities	99		87
Net contract assets	$	97	$	105

(1)Included in prepaid expenses and other on the condensed consolidated balance sheets.

(2)Included in other non-current assets on the condensed consolidated balance sheets.

(3)Included in accrued and other current liabilities on the condensed consolidated balance sheets.

(4)Included in other non-current liabilities on the condensed consolidated balance sheets.

DERIVATIVES AND HEDGING ACTIVITIES - Narratives (Details) $ in Millions	3 Months Ended
	Dec. 30, 2023 USD ($)
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimate of Time to Transfer	12 months
Losses reclassified from cash flow hedges into net sales	$ 1.0
Interest Rate Swap and Cap Agreements
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred	(71.0)
Foreign Exchange Forward Exchange Contracts
Derivative [Line Items]
Derivative, Notional Amount	124.0
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Earnings, net of Tax, Next 12 months (Estimated)	$ (1.0)
Interest rate collar beginning March 31, 2025 and Maturing September 30, 2026 \| Minimum \| Secured Overnight Financing Rate (SOFR)
Derivative [Line Items]
Derivative, Variable Interest Rate	2.00%
Interest rate collar beginning March 31, 2025 and Maturing September 30, 2026 \| Maximum \| Secured Overnight Financing Rate (SOFR)
Derivative [Line Items]
Derivative, Variable Interest Rate	3.50%

FAIR VALUE MEASUREMENTS - Carrying Amounts and Fair Values of Financial Instruments (Details) - USD ($)
$ in Millions

Dec. 30, 2023

Sep. 30, 2023

Dec. 31, 2022

Sep. 30, 2022

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Cash and cash equivalents

$ 4,135

$ 3,472

$ 3,288

$ 3,001

Short-term borrowings—trade receivable securitization facility

449

349

Long-term Debt

21,427

19,401

Other Current Assets

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Interest Rate Swap Assets

^[1]

103

Other Noncurrent Assets

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Interest Rate Swap Assets

^[2]

Interest Rate Cap Agreements

^[2]

Interest Rate Collar Assets

^[2]

Accrued Liabilities

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Foreign Currency Contract, Liability

^[3]

Other Noncurrent Liabilities

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Interest Rate Cap Liabilities Carrying Amount

^[4]

Interest rate swap agreements

^[4]

Term loans

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term Debt

^[5]

7,157

6,179

Government refundable advances

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term Debt

Finance Lease Obligations

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term Debt

254

193

Level 1

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Cash and cash equivalents, Fair Value

4,135

3,472

Level 2 | Other Current Assets

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Interest Rate Swap Assets

^[1]

103

Level 2 | Other Noncurrent Assets

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Interest Rate Swap Assets

^[2]

Interest Rate Cap Agreements

^[2]

Interest Rate Collar Assets

^[2]

Level 2 | Accrued Liabilities

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Foreign Currency Contract, Liability

^[3]

Level 2 | Other Noncurrent Liabilities

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Interest Rate Cap Liabilities Carrying Amount

^[4]

Interest rate swap agreements

^[4]

Level 2 | Term loans

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term debt, including current portion, Fair Value

^[5]

7,216

6,212

Level 2 | Government refundable advances

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term debt, including current portion, Fair Value

Level 2 | Finance Lease Obligations

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term debt, including current portion, Fair Value

254

193

Senior Secured Notes $4.4B Due 2026 6.25% | Secured Debt

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term Debt

^[5]

4,379

4,377

Senior Secured Notes $4.4B Due 2026 6.25% | Level 1 | Secured Debt

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term debt, including current portion, Fair Value

^[5]

4,378

4,329

Senior Subordinated Notes $550M Due 2027 7.50% | Senior Subordinated Notes

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term Debt

^[5]

548

Senior Subordinated Notes $550M Due 2027 7.50% | Level 1 | Senior Subordinated Notes

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term debt, including current portion, Fair Value

^[5]

552

549

Senior Subordinated Notes $2650M Due 2027 5.50% | Senior Subordinated Notes

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term Debt

^[5]

2,638

Senior Subordinated Notes $2650M Due 2027 5.50% | Level 1 | Senior Subordinated Notes

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term debt, including current portion, Fair Value

^[5]

2,607

2,484

Senior Secured Notes $2,100M due 2028 6.75% | Secured Debt

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term Debt

^[5]

2,073

2,071

Senior Secured Notes $2,100M due 2028 6.75% | Level 1 | Secured Debt

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term debt, including current portion, Fair Value

^[5]

2,137

2,069

Senior Subordinated Notes $1200M Due 2029 4.625% | Senior Subordinated Notes

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term Debt

^[5]

1,193

Senior Subordinated Notes $1200M Due 2029 4.625% | Level 1 | Senior Subordinated Notes

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term debt, including current portion, Fair Value

^[5]

1,116

1,047

Senior Subordinated Notes $750M due 2029 4.875% | Senior Subordinated Notes

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term Debt

^[5]

745

Senior Subordinated Notes $750M due 2029 4.875% | Level 1 | Senior Subordinated Notes

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term debt, including current portion, Fair Value

^[5]

698

654

Senior Secured Notes $1,450M due 2030 | Secured Debt

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term Debt

^[5]

1,436

Senior Secured Notes $1,450M due 2030 | Level 1 | Secured Debt

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term debt, including current portion, Fair Value

^[5]

1,494

1,423

Senior Secured Notes $1,000M due 2031 7.125% | Secured Debt

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term Debt

^[5]

983

Senior Secured Notes $1,000M due 2031 7.125% | Level 1 | Secured Debt

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-term debt, including current portion, Fair Value

^[5]

1,051

Asset-backed Securities

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Short-term borrowings—trade receivable securitization facility

^[5]

449

349

Asset-backed Securities | Level 2

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Short-term borrowings - trade receivable securitization facility, Fair Value

^[5]

$ 449

$ 349

[1]	Included in prepaid expenses and other on the condensed consolidated balance sheets.
[2]	Included in other non-current assets on the condensed consolidated balance sheets.
[3]	Included in accrued and other current liabilities on the condensed consolidated balance sheets.
[4]	Included in other non-current liabilities on the condensed consolidated balance sheets.
[5]	The carrying amount of the debt instrument is presented net of debt issuance costs, premium and discount. Refer to Note 7, “Debt,” for gross carrying amounts.

EARNINGS PER SHARE

3 Months Ended

Dec. 30, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE (TWO-CLASS METHOD)

EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share (in millions, except per share data) using the two-class method:


	Thirteen Week Periods Ended
		December 30, 2023		December 31, 2022
Numerator for earnings per share:
Net income		$	382	$	229
Less: Net income attributable to noncontrolling interests		—		(1)
Net income attributable to TD Group		382		228
Less: Dividends paid on participating securities (1)		(101)		(38)

Net income applicable to TD Group common stockholders—basic and diluted		$	281	$	190
Denominator for basic and diluted earnings per share under the two-class method:
Weighted-average common shares outstanding		55.4		54.4
Vested options deemed participating securities		2.3		2.7
Total shares for basic and diluted earnings per share		57.7		57.1


Earnings per share—basic and diluted		$	4.87	$	3.33

Cover Page - shares	3 Months Ended
Cover Page - shares	Dec. 30, 2023	Jan. 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 30, 2023
Document Transition Report	false
Entity File Number	001-32833
Entity Registrant Name	TransDigm Group Incorporated
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	41-2101738
Entity Address, Address Line One	1301 East 9th Street,
Entity Address, Address Line Two	Suite 3000,
Entity Address, City or Town	Cleveland,
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44114
City Area Code	216
Local Phone Number	706-2960
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	TDG
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		55,606,261
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001260221
Current Fiscal Year End Date	--09-30

LEASES - Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 30, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Lease, Cost	$ 10	$ 10
Cost of sales or selling and administrative expenses
Lessee, Lease, Description [Line Items]
Operating Lease, Cost	5	5
Cost of sales
Lessee, Lease, Description [Line Items]
Finance Lease, Right-of-Use Asset, Amortization	3	2
Interest expense-net
Lessee, Lease, Description [Line Items]
Finance Lease, Interest Expense	$ 2	$ 3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT - USD ($)
$ in Millions

Total

Common Stock

Additional Paid-In Capital

Accumulated Deficit

Accumulated Other Comprehensive Loss

Treasury Stock

Noncontrolling Interests

Increase (Decrease) in Stockholders' Equity [Roll Forward]

NONCONTROLLING INTERESTS

$ 7.0

Total stockholders’ deficit

$ (3,766.0)

BALANCE (in shares) at Sep. 30, 2022

60,049,685

BALANCE at Sep. 30, 2022

$ 1.0

$ 2,113.0

$ (3,914.0)

$ (267.0)

$ (1,706.0)

BALANCE, Treasury Stock (in shares) at Sep. 30, 2022

(5,688,639)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Changes in noncontrolling interest of consolidated subsidiaries, net

1.0

Accrued unvested dividend equivalents and other

(1.0)

Compensation expense recognized for employee stock options

24.0

Exercise of employee stock options

121,490

Exercise of employee stock options

27.0

NET INCOME ATTRIBUTABLE TO TD GROUP

228.0

Net income attributable to TD Group

^[1],[2]

137.0

Foreign currency translation adjustment

137.0

Unrealized loss on derivatives, net of tax

^[1],[3]

22.0

Unrealized (losses) gains on derivatives

22.0

Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax

^[1],[4]

0.0

Pension and post-retirement benefit plans adjustment

0.0

BALANCE (in shares) at Dec. 31, 2022

60,171,175

BALANCE at Dec. 31, 2022

$ 1.0

2,164.0

(3,687.0)

(108.0)

$ (1,706.0)

BALANCE, Treasury Stock (in shares) at Dec. 31, 2022

(5,688,639)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

NONCONTROLLING INTERESTS

8.0

Total stockholders’ deficit

(3,328.0)

NONCONTROLLING INTERESTS

6.0

Total stockholders’ deficit

$ (1,978.0)

BALANCE (in shares) at Sep. 30, 2023

60,995,513

BALANCE at Sep. 30, 2023

$ (1,984.0)

$ 1.0

2,440.0

(2,621.0)

(98.0)

$ (1,706.0)

BALANCE, Treasury Stock (in shares) at Sep. 30, 2023

(5,688,639)

5,688,639

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Changes in noncontrolling interest of consolidated subsidiaries, net

$ 1.0

1.0

Special dividends and dividend equivalents

(2,020.0)

Accrued unvested dividend equivalents and other

(7.0)

Compensation expense recognized for employee stock options

26.0

Exercise of employee stock options

216,150

Exercise of employee stock options

52.0

NET INCOME ATTRIBUTABLE TO TD GROUP

382.0

Net income attributable to TD Group

^[1],[2]

91.0

Foreign currency translation adjustment

91.0

Unrealized loss on derivatives, net of tax

(1.0)

(53.0)

^[1],[3]

Unrealized (losses) gains on derivatives

(53.0)

Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax

^[1],[4]

0.0

Pension and post-retirement benefit plans adjustment

$ 0.0

BALANCE (in shares) at Dec. 30, 2023

61,211,663

BALANCE at Dec. 30, 2023

$ (3,513.0)

$ 1.0

$ 2,518.0

$ (4,266.0)

$ (60.0)

$ (1,706.0)

BALANCE, Treasury Stock (in shares) at Dec. 30, 2023

(5,688,639)

5,688,639

Increase (Decrease) in Stockholders' Equity [Roll Forward]

NONCONTROLLING INTERESTS

$ 7.0

Total stockholders’ deficit

$ (3,506.0)

[1]	Presented net of reclassifications out of AOCI into earnings, specifically net sales and interest expense-net, for realized (losses) gains on derivatives designated and qualifying as cash flow hedges of ($1) million (net of taxes of less than ($1) million) and $28 million (net of taxes of $9 million), respectively, for the thirteen week period ended December 30, 2023
[2]	Represents gains (losses) resulting from foreign currency translation of financial statements, including gains (losses) from certain intercompany transactions, into U.S. dollars at the rates of exchange in effect at the balance sheet dates.
[3]	Represents unrealized (losses) gains on derivatives designated and qualifying as cash flow hedges, net of taxes, of ($18) million and $7 million for the thirteen week periods ended December 30, 2023 and December 31, 2022, respectively.
[4]	There were no material pension liability adjustments, net of taxes, related to activity on the defined pension plan and postretirement benefit plan for the thirteen week periods ended December 30, 2023 and December 31, 2022.

INVENTORIES

3 Months Ended

Dec. 30, 2023

Inventory Disclosure [Abstract]

INVENTORIES

Inventories are stated at the lower of cost or net realizable value. Cost of inventories is generally determined by the average cost and the first–in, first–out (“FIFO”) methods and includes material, labor and overhead related to the manufacturing process.

Inventories consist of the following (in millions):


	December 30, 2023		September 30, 2023
Raw materials and purchased component parts	$	1,208	$	1,144
Work-in-progress	480		455
Finished goods	235		226
Total	1,923		1,825
Reserves for excess and obsolete inventory	(215)		(209)
Inventories—Net	$	1,708	$	1,616

LEASES - Maturities Schedule of Operating and Financing Leases (Details) - USD ($) $ in Millions	Dec. 30, 2023	Sep. 30, 2023
Leases [Abstract]
Operating Leases, Future Minimum Payments Due, Next Twelve Months	$ 14
Finance Leases, Future Minimum Payments Due, Next Twelve Months	13
Lessee, Operating Lease, Liability, to be Paid, Year One	17
Finance Lease, Liability, to be Paid, Year One	20
Operating Leases, Future Minimum Payments, Due in Two Years	12
Finance Leases, Future Minimum Payments Due in Two Years	20
Operating Leases, Future Minimum Payments, Due in Three Years	10
Finance Leases, Future Minimum Payments Due in Three Years	21
Operating Leases, Future Minimum Payments, Due in Four Years	5
Finance Leases, Future Minimum Payments Due in Four Years	22
Operating Leases, Future Minimum Payments, Due Thereafter	14
Finance Leases, Future Minimum Payments Due Thereafter	444
Operating Leases, Future Minimum Payments Due	72
Finance Leases, Future Minimum Payments Due	540
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	11
Finance Leases, Future Minimum Payments, Interest Included in Payments	286
Operating Lease, Liability	61	$ 67
Finance lease obligations	$ 254	$ 193

LEASES - Supplemental Balance Sheet Information Related to Leases, Including the Remaining Lease Term and Weighted Average Discount Rates (Details) - USD ($) $ in Millions	Dec. 30, 2023	Sep. 30, 2023
Leases [Abstract]
Operating Lease, Right-of-Use Asset	$ 59	$ 64
Operating Lease, Liability, Current	16	16
Operating Lease, Liability, Noncurrent	45	51
Operating Lease, Liability	61	67
Finance Lease, Right-of-Use Asset	237	176
Finance Lease, Liability, Current	5	5
Finance Lease, Liability, Noncurrent	249	188
Finance Lease, Liability	$ 254	$ 193
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	OTHER NON-CURRENT ASSETS	OTHER NON-CURRENT ASSETS
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued and other current liabilities	Accrued and other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	OTHER NON-CURRENT LIABILITIES	OTHER NON-CURRENT LIABILITIES
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	PROPERTY, PLANT AND EQUIPMENT—NET	PROPERTY, PLANT AND EQUIPMENT—NET
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Current portion of long-term debt	Current portion of long-term debt
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	LONG-TERM DEBT	LONG-TERM DEBT

LEASES - Weighted-Average Term and Discount Rate Remaining (Details)	Dec. 30, 2023
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	5 years 6 months
Finance Lease, Weighted Average Remaining Lease Term	21 years 8 months 12 days
Operating Lease, Weighted Average Discount Rate, Percent	6.00%
Finance Lease, Weighted Average Discount Rate, Percent	7.00%

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Dec. 30, 2023	Dec. 31, 2022
Income Statement [Abstract]
NET SALES	$ 1,789	$ 1,397
COST OF SALES	747	604
GROSS PROFIT	1,042	793
SELLING AND ADMINISTRATIVE EXPENSES	220	169
AMORTIZATION OF INTANGIBLE ASSETS	35	34
INCOME FROM OPERATIONS	787	590
INTEREST EXPENSE—NET	300	286
REFINANCING COSTS	0	4
OTHER INCOME	(1)	(1)
INCOME FROM OPERATIONS BEFORE INCOME TAXES	488	301
INCOME TAX PROVISION	106	72
NET INCOME	382	229
LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	0	(1)
NET INCOME ATTRIBUTABLE TO TD GROUP	382	228
Supplemental Income Statement Elements [Abstract]
NET INCOME APPLICABLE TO TD GROUP COMMON STOCKHOLDERS	$ 281	$ 190
Earnings per share attributable to TD Group common stockholders:
Earnings per share - basic (in usd per share)	$ 4.87	$ 3.33
Earnings per share - diluted (in usd per share)	4.87	3.33
Cash dividends paid per common share (in usd per share)	$ 35.00	$ 0
Weighted-average shares outstanding:
Weighted-average shares outstanding - basic (in shares)	57.7	57.1
Weighted-average shares outstanding - diluted (in shares)	57.7	57.1

ACCUMULATED OTHER COMPREHENSIVE LOSS - Schedule of Accumulated Other Comprehensive Loss, Net of Taxes (Details) - USD ($)
$ in Millions

3 Months Ended

Dec. 30, 2023

Dec. 31, 2022

AOCI Attributable to Parent, Net of Tax [Roll Forward]

Balance at beginning of period

$ (98.0)

$ (267.0)

Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax

(1.0)

Other Comprehensive Income (Loss), Net of Tax

^[1]

38.0

159.0

Balance at end of period

(60.0)

(108.0)

Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax

(18.0)

7.0

Cash Flow Hedging | Designated as Hedging Instrument | Net Sales

AOCI Attributable to Parent, Net of Tax [Roll Forward]

Derivative, Gain (Loss) on Derivative, Net

(1.0)

Derivative, Gain (Loss) on Derivative, Tax Expense (Benefit)

(1.0)

Cash Flow Hedging | Designated as Hedging Instrument | Interest Expense, Net

AOCI Attributable to Parent, Net of Tax [Roll Forward]

Derivative, Gain (Loss) on Derivative, Net

28.0

6.0

Derivative, Gain (Loss) on Derivative, Tax Expense (Benefit)

9.0

2.0

Unrealized (losses) gains on derivatives (1)

AOCI Attributable to Parent, Net of Tax [Roll Forward]

Balance at beginning of period

^[2]

143.0

123.0

Balance at end of period

^[2]

90.0

145.0

Pension and post-retirement benefit plans adjustment (2)

AOCI Attributable to Parent, Net of Tax [Roll Forward]

Balance at beginning of period

^[3]

2.0

(10.0)

Balance at end of period

^[3]

2.0

(10.0)

Foreign currency translation adjustment (3)

AOCI Attributable to Parent, Net of Tax [Roll Forward]

Balance at beginning of period

^[4]

(243.0)

(380.0)

Balance at end of period

^[4]

(152.0)

(243.0)

Accumulated Other Comprehensive Loss

AOCI Attributable to Parent, Net of Tax [Roll Forward]

Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax

^[1],[2]

(53.0)

22.0

Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax

^[1],[3]

0.0

Foreign currency translation adjustment

^[1],[4]

$ 91.0

$ 137.0

[1]	Presented net of reclassifications out of AOCI into earnings, specifically net sales and interest expense-net, for realized (losses) gains on derivatives designated and qualifying as cash flow hedges of ($1) million (net of taxes of less than ($1) million) and $28 million (net of taxes of $9 million), respectively, for the thirteen week period ended December 30, 2023
[2]	Represents unrealized (losses) gains on derivatives designated and qualifying as cash flow hedges, net of taxes, of ($18) million and $7 million for the thirteen week periods ended December 30, 2023 and December 31, 2022, respectively.
[3]	There were no material pension liability adjustments, net of taxes, related to activity on the defined pension plan and postretirement benefit plan for the thirteen week periods ended December 30, 2023 and December 31, 2022.
[4]	Represents gains (losses) resulting from foreign currency translation of financial statements, including gains (losses) from certain intercompany transactions, into U.S. dollars at the rates of exchange in effect at the balance sheet dates.

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES During the ordinary course of business, the Company is from time to time threatened with, or may become a party to, legal actions and other proceedings. While the Company is currently involved in certain legal proceedings, it believes the results of these proceedings will not have a material adverse effect on its financial condition, results of operations, or cash flows. DOD OIG Audit – TransDigm’s subsidiaries are periodically subject to pricing reviews and government buying agencies that purchase some of our subsidiaries’ products are periodically subject to audits by the Department of Defense (“DOD”) Office of Inspector General (“OIG”) with respect to prices paid for such products. In 2019, the DOD OIG received a congressional letter requesting a comprehensive review of TransDigm’s contracts with the DOD from January 2017 through June 2019 to identify whether TransDigm earned excess profits. This subsequently resulted in an audit by the DOD OIG in which the objective was to determine whether TransDigm’s business model impacted the DOD’s ability to pay fair and reasonable prices for spare parts. In December 2021, the OIG completed the audit and issued the related audit report. Despite the audit report making clear there was no wrongdoing by TransDigm, its businesses, or the DOD, the report recommended that TransDigm voluntarily refund at least $21 million in excess profit on 150 contracts subject to the audit. TransDigm disagrees with many of the implications contained in the report, and objects to the use of arbitrary standards and analysis which render many areas of the report inaccurate and misleading. These include: (1) The report expressly acknowledges that it used arbitrary standards that are not applicable to the audited contracts and warns that its arbitrary standards should not be used in the future. The use of inapplicable standards results in flawed analysis and is misleading; (2) The report ignores significant real costs incurred by the business and contrary to law reports these costs as excess profit; (3) Despite data demonstrating that the DOD paid lower prices compared to the commercial prices for similar parts, the report did not conduct a price analysis and instead implies that the DOD negotiated prices were too high. No loss contingency related to the voluntary refund request has been recorded as of December 30, 2023 as the Company has concluded that based on the current facts and circumstances, it's uncertain as to whether or not the requested voluntary refund will be made.

ACQUISITIONS - Calspan Corporation (Details) - USD ($) $ in Millions		3 Months Ended		5 Months Ended
	May 08, 2023	Dec. 30, 2023	Dec. 31, 2022	Sep. 30, 2023
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired		$ 14	$ 10
Assets acquired (excluding cash):
GOODWILL		9,036		$ 8,988
Goodwill, Purchase Accounting Adjustments		1
Calspan Corporation
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 730
Business Combination, Working Capital Settlement	1
Assets acquired (excluding cash):
Trade accounts receivable	39	39
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentCurrentAssets,Receivable				0
Inventories	2	2
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory				0
Prepaid expenses and other	40	40
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Current Assets, Prepaid Expenses and Other				0
Property, plant and equipment	105	383
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Property, Plant, and Equipment				278
GOODWILL	367	245
Goodwill, Purchase Accounting Adjustments				(122)
Other intangible assets	243	92
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles				(151)
Other non-current assets	7	7
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Other Assets				0
Total assets acquired (excluding cash)	803	808
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Total Assets Acquired				5
Liabilities assumed:
Accounts payable	10	9
Business Combination Provisional Information Initial Accounting Incomplete Adjustment accounts payable				(1)
Accrued and other current liabilities	50	50
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Accrued and Other Current Liabilities				0
Deferred income taxes	8	13
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Accounts Payable				5
Other non-current liabilities	6	6
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Other Non-Current Liabilities				0
Total liabilities assumed	74	78
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Total Liabilities Assumed				4
Net assets acquired	$ 729	730
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Net Assets Acquired				$ 1
Amount of goodwill expected to be tax deductible		218
Business Acquisition, Intangible Assets, Expected Tax Deductible Amount		$ 86
Business Acquisition, Goodwill and Intangible Assets, Expected Tax Deductible Amount, Period of Deduction		15 years

INTANGIBLE ASSETS (Tables)

3 Months Ended

Dec. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Subject to Amortization

Other intangible assets–net in the condensed consolidated balance sheets consist of the following (in millions):


	December 30, 2023						September 30, 2023
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Trademarks and trade names	$	1,022	$	—	$	1,022	$	1,019	$	—	$	1,019
Technology	2,138		917		1,221		2,124		888		1,236
Order backlog	2		2		—		7		6		1
Customer relationships	631		146		485		623		136		487
Other	10		5		5		9		5		4
Total	$	3,803	$	1,070	$	2,733	$	3,782	$	1,035	$	2,747

Summary of Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

Intangible assets acquired during the thirteen week period ended December 30, 2023 are summarized in the table below (in millions):


	Gross Amount		Amortization Period
Intangible assets not subject to amortization:
Goodwill	$	6

	6
Intangible assets subject to amortization:
Technology	2		20 years

Customer relationships	1		20 years
	3
Total	$	9

Summary of Changes in Carrying Value of Goodwill

The following is a summary of changes in the carrying value of goodwill by segment from September 30, 2023 through December 30, 2023 (in millions):


	Power & Control		Airframe		Non-aviation		Total
Balance at September 30, 2023	$	4,194	$	4,701	$	93	$	8,988
Goodwill acquired during the period (Note 2)	6		—		—		6
Purchase price allocation adjustments (1)	—		1		—		1
Currency translation adjustments and other	22		19		—		41
Balance at December 30, 2023	$	4,222	$	4,721	$	93	$	9,036

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
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-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

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+ Details

INCOME TAXES - Narratives (Details) - USD ($) $ in Millions	3 Months Ended
INCOME TAXES - Narratives (Details) - USD ($) $ in Millions	Dec. 30, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate	21.70%	23.90%
Tax rate effect	$ 17.0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	$ 6.0

LEASES - Supplemental Cash Flow Information Related To Leases (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Operating Lease, Payments	$ 5	$ 5
Finance Lease, Interest Payment on Liability	3	3
Finance Lease, Principal Payments	1	1
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	1	0
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	$ 59	$ 48

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions

3 Months Ended

Dec. 30, 2023

Dec. 31, 2022

Statement of Comprehensive Income [Abstract]

Net income

$ 382

$ 229

Less: Net income attributable to noncontrolling interests

(1)

NET INCOME ATTRIBUTABLE TO TD GROUP

382

228

Other comprehensive income (loss), net of tax:

Foreign currency translation adjustment

137

Unrealized (losses) gains on derivatives

(53)

Pension and post-retirement benefit plans adjustment

Other comprehensive income, net of tax, attributable to TD Group

^[1]

159

TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO TD GROUP

$ 420

$ 387

[1]

Presented net of reclassifications out of AOCI into earnings, specifically net sales and interest expense-net, for realized (losses) gains on derivatives designated and qualifying as cash flow hedges of ($1) million (net of taxes of less than ($1) million) and $28 million (net of taxes of $9 million), respectively, for the thirteen week period ended December 30, 2023

DERIVATIVES AND HEDGING ACTIVITIES - Summary of Balance Sheet Presentation of Derivative Assets and Liabilities (Details) - USD ($)
$ in Millions

Dec. 30, 2023

Sep. 30, 2023

Derivative [Line Items]

Derivative Asset, Fair Value, Gross Asset

^[1]

$ 138

$ 214

Derivative Liability, Fair Value, Gross Liability

^[1]

Interest Rate Cap

Derivative [Line Items]

Derivative Asset, Fair Value, Gross Asset

Derivative Liability, Fair Value, Gross Liability

Interest Rate Collar

Derivative [Line Items]

Derivative Asset, Fair Value, Gross Asset

Derivative Liability, Fair Value, Gross Liability

Interest Rate Swap

Derivative [Line Items]

Derivative Asset, Fair Value, Gross Asset

144

Derivative Liability, Fair Value, Gross Liability

$ 3

[1]	Refer to Note 9, “Fair Value Measurements,” for the condensed consolidated balance sheets classification of the Company's interest rate swap, cap and collar agreements.

SEGMENTS - Narratives (Details)	3 Months Ended
SEGMENTS - Narratives (Details)	Dec. 30, 2023 Segment
Segment Reporting [Abstract]
Number of reporting segments	3

INVENTORIES (Tables)

3 Months Ended

Dec. 30, 2023

Inventory Disclosure [Abstract]

Inventories

Inventories consist of the following (in millions):


	December 30, 2023		September 30, 2023
Raw materials and purchased component parts	$	1,208	$	1,144
Work-in-progress	480		455
Finished goods	235		226
Total	1,923		1,825
Reserves for excess and obsolete inventory	(215)		(209)
Inventories—Net	$	1,708	$	1,616

SEGMENTS - Schedule of Total Assets by Segment (Details) - USD ($) $ in Millions	Dec. 30, 2023	Sep. 30, 2023
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 20,685	$ 19,970
Operating Segments \| Power & Control
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	7,440	7,315
Operating Segments \| Airframe
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	9,083	8,972
Operating Segments \| Non-aviation
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	228	234
Corporate, Non-Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 3,934	$ 3,449

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

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-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
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Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481404/852-10-50-7

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 26: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1

+ Details

DEBT (Tables)

3 Months Ended

Dec. 30, 2023

Debt Disclosure [Abstract]

Schedule of Debt

The Company’s debt consists of the following (in millions):


	December 30, 2023
	Gross Amount		Debt Issuance Costs		Original Issue (Discount) or Premium		Net Amount
Short-term borrowings—trade receivable securitization facility	$	450	$	(1)	$	—	$	449
Term loans	$	7,233	$	(29)	$	(47)	$	7,157

6.25% secured notes due 2026 (“2026 Secured Notes”)	4,400		(23)		2		4,379
7.50% senior subordinated notes due 2027 (“7.50% 2027 Notes”)	550		(2)		—		548
5.50% senior subordinated notes due 2027 (“5.50% 2027 Notes”)	2,650		(12)		—		2,638
6.75% secured notes due 2028 (“2028 Secured Notes”)	2,100		(18)		(9)		2,073
4.625% senior subordinated notes due 2029 (“4.625% 2029 Notes”)	1,200		(7)		—		1,193
4.875% senior subordinated notes due 2029 (“4.875% 2029 Notes”)	750		(5)		—		745
6.875% secured notes due 2030 (“2030 Secured Notes”)	1,450		(14)		—		1,436
7.125% secured notes due 2031 (“2031 Secured Notes”)	1,000		(10)		(7)		983
Government refundable advances	21		—		—		21
Finance lease obligations	254		—		—		254
	21,608		(120)		(61)		21,427
Less: current portion	81		—		—		81
Long-term debt	$	21,527	$	(120)	$	(61)	$	21,346


	September 30, 2023
	Gross Amount		Debt Issuance Costs		Original Issue (Discount) or Premium		Net Amount
Short-term borrowings—trade receivable securitization facility	$	350	$	(1)	$	—	$	349
Term loans	$	6,249	$	(22)	$	(48)	$	6,179

2026 Secured Notes	4,400		(25)		2		4,377
7.50% 2027 Notes	550		(2)		—		548
5.50% 2027 Notes	2,650		(12)		—		2,638
2028 Secured Notes	2,100		(19)		(10)		2,071
4.625% 2029 Notes	1,200		(7)		—		1,193
4.875% 2029 Notes	750		(5)		—		745
2030 Secured Notes	1,450		(14)		—		1,436
Government refundable advances	21		—		—		21
Finance lease obligations	193		—		—		193
	19,563		(106)		(56)		19,401
Less: current portion	71		—		—		71
Long-term debt	$	19,492	$	(106)	$	(56)	$	19,330

LEASES (Tables)

3 Months Ended

Dec. 30, 2023

Leases [Abstract]

Lease, Cost

The components of lease expense are as follows (in millions):


		Thirteen Week Periods Ended
	Classification		December 30, 2023		December 31, 2022
Operating lease cost	Cost of sales or selling and administrative expenses		$	5	$	5
Finance lease cost:
Amortization of leased assets	Cost of sales		3		2
Interest on lease liabilities	Interest expense-net		2		3
Total lease cost			$	10	$	10

Schedule of Cash Flow, Supplemental Disclosures

Supplemental cash flow information related to leases is as follows (in millions):


	Thirteen Week Periods Ended
	December 30, 2023		December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	5	$	5
Operating cash outflows from finance leases	3		3
Financing cash outflows from finance leases	1		1

Lease assets obtained in exchange for new lease obligations:
Operating leases	$	1	$	—
Financing leases	59		48

Leases, Supplemental Balance Sheet Information

Supplemental balance sheet information related to leases is as follows (in millions):


	Classification	December 30, 2023		September 30, 2023
Operating Leases
Operating lease right-of-use assets	Other non-current assets	$	59	$	64

Current operating lease liabilities	Accrued and other current liabilities	16		16
Long-term operating lease liabilities	Other non-current liabilities	45		51
Total operating lease liabilities		$	61	$	67

Finance Leases
Finance lease right-of-use assets, net	Property, plant and equipment-net	$	237	$	176

Current finance lease liabilities	Current portion of long-term debt	5		5
Long-term finance lease liabilities	Long-term debt	249		188
Total finance lease liabilities		$	254	$	193

As of December 30, 2023, the Company has the following remaining lease term and weighted average discount rates:


Weighted-average remaining lease term
Operating leases			5.5 years
Finance leases			21.7 years

Weighted-average discount rate
Operating leases			6.0%
Finance leases			7.0%

Lessee, Operating Lease, Liability, Maturity

Maturities of lease liabilities at December 30, 2023 are as follows (in millions):


	Operating Leases		Finance Leases
2024	$	14	$	13
2025	17		20
2026	12		20
2027	10		21
2028	5		22
Thereafter	14		444
Total future minimum lease payments	72		540
Less: imputed interest	11		286
Present value of lease liabilities reported	$	61	$	254

Finance Lease, Liability, Maturity

Maturities of lease liabilities at December 30, 2023 are as follows (in millions):


	Operating Leases		Finance Leases
2024	$	14	$	13
2025	17		20
2026	12		20
2027	10		21
2028	5		22
Thereafter	14		444
Total future minimum lease payments	72		540
Less: imputed interest	11		286
Present value of lease liabilities reported	$	61	$	254

SEGMENTS (Tables)

3 Months Ended

Dec. 30, 2023

Segment Reporting [Abstract]

Net Sales by Reportable Segments


	Thirteen Week Periods Ended
		December 30, 2023		December 31, 2022
Net sales to external customers
Power & Control
Commercial and non-aerospace OEM		$	177	$	152
Commercial and non-aerospace aftermarket		296		242
Defense		412		331
Total Power & Control		885		725

Airframe
Commercial and non-aerospace OEM		272		201
Commercial and non-aerospace aftermarket		324		238
Defense		266		198
Total Airframe		862		637

Total Non-aviation		42		35

Net Sales		$	1,789	$	1,397

EBITDA Defined by Segment to Consolidated Income Before Taxes

The following table reconciles EBITDA As Defined by segment to consolidated income from operations before income taxes (in millions):


	Thirteen Week Periods Ended
		December 30, 2023		December 31, 2022
EBITDA As Defined
Power & Control		$	509	$	401
Airframe		431		312
Non-aviation		17		14
Total segment EBITDA As Defined		957		727
Less: Unallocated corporate EBITDA As Defined		45		28
Total Company EBITDA As Defined		912		699
Depreciation and amortization expense		71		63
Interest expense-net		300		286
Acquisition and divestiture transaction-related expenses		2		3
Non-cash stock and deferred compensation expense		51		35
Refinancing costs		—		4
Other, net		—		7
Income from operations before income taxes		$	488	$	301

Total Assets by Segment

The following table presents total assets by segment (in millions):


	December 30, 2023		September 30, 2023
Total assets
Power & Control	$	7,440	$	7,315
Airframe	9,083		8,972
Non-aviation	228		234
Corporate	3,934		3,449
	$	20,685	$	19,970

EARNINGS PER SHARE - Computation of Basic and Diluted EPS (two-class method) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Sep. 30, 2023
Numerator for earnings per share:
Net income	$ 382	$ 229
Less: Net income attributable to noncontrolling interests	0	1
Net income attributable to TD Group	382	228
Less: Dividends paid on participating securities (1)	(101)	(38)
Net income applicable to TD Group common stockholders—basic and diluted	$ 281	$ 190
Denominator for basic and diluted earnings per share under the two-class method:
Weighted-average common shares outstanding - basic (in shares)	55.4	54.4
Weighted-average common shares outstanding - diluted (in shares)	55.4	54.4
Vested options deemed participating securities	2.3	2.7
Weighted-average shares outstanding - basic (in shares)	57.7	57.1
Weighted-average shares outstanding - diluted (in shares)	57.7	57.1
Earnings per share - basic (in usd per share)	$ 4.87	$ 3.33
Earnings per share - diluted (in usd per share)	$ 4.87	$ 3.33
Total Payments Of Dividend Equivalents	$ 101	$ 38
Dividend equivalent payments	$ 83		$ 18
Dividend declared (in usd per share)	$ 35.00

LEASES

3 Months Ended

Dec. 30, 2023

Leases [Abstract]

Leases

LEASES

The Company leases certain manufacturing facilities, offices, land, equipment and vehicles. Such leases, some of which are noncancellable and, in many cases, include renewals, expire at various dates. Such options to renew are included in the lease term when it is reasonably certain that the option will be exercised. The Company’s lease agreements typically do not contain any significant residual value guarantees or restrictive covenants, and payments within certain lease agreements are adjusted periodically for changes in an index or rate.

The Company determines if an arrangement is a lease at inception. Operating lease assets and liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term. Lease assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. The discount rate implicit within our leases is generally not determinable and therefore we determine the discount rate based on our incremental borrowing rate. The incremental borrowing rate for our leases is determined based on the lease term and the currency in which lease payments are made. The length of a lease term includes options to extend or terminate the lease when it is reasonably certain that the Company will exercise those options. The Company made an accounting policy election to not recognize lease assets or liabilities for leases with a term of twelve months or less. Additionally, when accounting for leases, the Company combines payments for leased assets, related services and other components of a lease.

The components of lease expense are as follows (in millions):


		Thirteen Week Periods Ended
	Classification		December 30, 2023		December 31, 2022
Operating lease cost	Cost of sales or selling and administrative expenses		$	5	$	5
Finance lease cost:
Amortization of leased assets	Cost of sales		3		2
Interest on lease liabilities	Interest expense-net		2		3
Total lease cost			$	10	$	10

Supplemental cash flow information related to leases is as follows (in millions):


	Thirteen Week Periods Ended
	December 30, 2023		December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	5	$	5
Operating cash outflows from finance leases	3		3
Financing cash outflows from finance leases	1		1

Lease assets obtained in exchange for new lease obligations:
Operating leases	$	1	$	—
Financing leases	59		48

Supplemental balance sheet information related to leases is as follows (in millions):


	Classification	December 30, 2023		September 30, 2023
Operating Leases
Operating lease right-of-use assets	Other non-current assets	$	59	$	64

Current operating lease liabilities	Accrued and other current liabilities	16		16
Long-term operating lease liabilities	Other non-current liabilities	45		51
Total operating lease liabilities		$	61	$	67

Finance Leases
Finance lease right-of-use assets, net	Property, plant and equipment-net	$	237	$	176

Current finance lease liabilities	Current portion of long-term debt	5		5
Long-term finance lease liabilities	Long-term debt	249		188
Total finance lease liabilities		$	254	$	193

As of December 30, 2023, the Company has the following remaining lease term and weighted average discount rates:


Weighted-average remaining lease term
Operating leases			5.5 years
Finance leases			21.7 years

Weighted-average discount rate
Operating leases			6.0%
Finance leases			7.0%

Maturities of lease liabilities at December 30, 2023 are as follows (in millions):


	Operating Leases		Finance Leases
2024	$	14	$	13
2025	17		20
2026	12		20
2027	10		21
2028	5		22
Thereafter	14		444
Total future minimum lease payments	72		540
Less: imputed interest	11		286
Present value of lease liabilities reported	$	61	$	254

Leases

LEASES

The components of lease expense are as follows (in millions):


		Thirteen Week Periods Ended
	Classification		December 30, 2023		December 31, 2022
Operating lease cost	Cost of sales or selling and administrative expenses		$	5	$	5
Finance lease cost:
Amortization of leased assets	Cost of sales		3		2
Interest on lease liabilities	Interest expense-net		2		3
Total lease cost			$	10	$	10

Supplemental cash flow information related to leases is as follows (in millions):


	Thirteen Week Periods Ended
	December 30, 2023		December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	5	$	5
Operating cash outflows from finance leases	3		3
Financing cash outflows from finance leases	1		1

Lease assets obtained in exchange for new lease obligations:
Operating leases	$	1	$	—
Financing leases	59		48

Supplemental balance sheet information related to leases is as follows (in millions):


	Classification	December 30, 2023		September 30, 2023
Operating Leases
Operating lease right-of-use assets	Other non-current assets	$	59	$	64

Current operating lease liabilities	Accrued and other current liabilities	16		16
Long-term operating lease liabilities	Other non-current liabilities	45		51
Total operating lease liabilities		$	61	$	67

Finance Leases
Finance lease right-of-use assets, net	Property, plant and equipment-net	$	237	$	176

Current finance lease liabilities	Current portion of long-term debt	5		5
Long-term finance lease liabilities	Long-term debt	249		188
Total finance lease liabilities		$	254	$	193

As of December 30, 2023, the Company has the following remaining lease term and weighted average discount rates:


Weighted-average remaining lease term
Operating leases			5.5 years
Finance leases			21.7 years

Weighted-average discount rate
Operating leases			6.0%
Finance leases			7.0%

Maturities of lease liabilities at December 30, 2023 are as follows (in millions):


	Operating Leases		Finance Leases
2024	$	14	$	13
2025	17		20
2026	12		20
2027	10		21
2028	5		22
Thereafter	14		444
Total future minimum lease payments	72		540
Less: imputed interest	11		286
Present value of lease liabilities reported	$	61	$	254

CONDENSED CONSOLIDATED BALANCE SHEETS PARENTHETICAL - $ / shares	Dec. 30, 2023	Sep. 30, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	224,400,000	224,400,000
Common stock, shares issued (in shares)	61,211,663	60,995,513
Treasury stock, shares outstanding (in shares)	5,688,639	5,688,639

INTANGIBLE ASSETS - Finite and Indefinite-Lived Intangible Assets (Details) $ in Millions	3 Months Ended
	Dec. 30, 2023 USD ($)
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived Intangible Assets Acquired	$ 6
Finite-lived Intangible Assets Acquired	3
Intangible Assets Acquired	9
Technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 2
Finite-Lived Intangible Assets, Remaining Amortization Period	20 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 1
Finite-Lived Intangible Assets, Remaining Amortization Period	20 years
Goodwill
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived Intangible Assets Acquired	$ 6

BASIS OF PRESENTATION	3 Months Ended
BASIS OF PRESENTATION	Dec. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION As used in this Quarterly Report on Form 10-Q, unless the context otherwise requires, the terms “Company”, “TD Group”, “TransDigm”, “we” or “us” refer to TransDigm Group Incorporated and its subsidiaries. Principles of Consolidation The financial information included herein is unaudited; however, the information reflects all adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary for a fair presentation of the Company’s condensed consolidated financial statements for the interim periods presented. These financial statements and notes should be read in conjunction with the financial statements and related notes for the fiscal year ended September 30, 2023 included in TD Group’s Annual Report on Form 10-K filed on November 9, 2023. As disclosed therein, the Company’s annual consolidated financial statements were prepared in conformity with generally accepted accounting principles in the United States (“U.S. GAAP”). The September 30, 2023 condensed consolidated balance sheet was derived from TD Group’s audited financial statements. The results of operations for the thirteen week period ended December 30, 2023 are not necessarily indicative of the results to be expected for the full year. Reclassifications Certain reclassifications have been made to the prior year amounts to conform to the current year presentation, none of which are material. New Accounting Pronouncements Issued In October 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-06, “Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative,” to amend certain disclosure and presentation requirements for a variety of topics within the ASC. These amendments align the requirements in the ASC to the removal of certain disclosure requirements set out in Regulation S-X and Regulation S-K, announced by the SEC. The effective date for each amended topic in the ASC is either the date on which the SEC’s removal of the related disclosure requirement from Regulation S-X or Regulation S-K becomes effective, or on June 30, 2027, if the SEC has not removed the requirements by that date. Early adoption is prohibited. The Company does not expect that the application of this standard will have an impact on our condensed consolidated financial statements and disclosures. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” ASU 2023-07 expands disclosures about a public business entity's reportable segments and provides for more detailed information about a reportable segment's expenses. Additionally, ASU 2023-07 requires all segment profit or loss and assets disclosures to be provided on an annual and interim basis. This standard is effective for annual periods beginning after December 15, 2023 and interim periods within fiscal years beginning one year later. Early adoption is permitted. The Company is currently evaluating this standard to determine its impact on our disclosures. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which requires a public business entity to disclose specific categories in its annual effective tax rate reconciliation and disaggregated information about significant reconciling items by jurisdiction and by nature. The ASU also requires entities to disclose their income tax payments (net of refunds) to international, federal, and state and local jurisdictions. The standard makes several other changes to income tax disclosure requirements. This standard is effective for annual periods beginning after December 15, 2024, and requires prospective application with the option to apply it retrospectively. Early adoption is permitted. The Company is currently evaluating this standard to determine its impact on our disclosures.

ACQUISITIONS - Extant Aerospace Acquisitions (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Sep. 30, 2023
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 14	$ 10
Minimum
Business Acquisition [Line Items]
Air Transportation Equipment Estimated Useful Life	25 years
Maximum
Business Acquisition [Line Items]
Air Transportation Equipment Estimated Useful Life	30 years
Extant Aerospace
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 13		$ 24
Amount of goodwill expected to be tax deductible	6		12
Business Acquisition, Intangible Assets, Expected Tax Deductible Amount	$ 3		$ 6
Goodwill and Intangible Assets, Deductible For Tax Purposes, Term	15 years		15 years

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 30, 2023	Sep. 30, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 4,135	$ 3,472
Trade accounts receivable—Net	1,145	1,230
Inventories—Net	1,708	1,616
Prepaid expenses and other	408	420
Total current assets	7,396	6,738
PROPERTY, PLANT AND EQUIPMENT—NET	1,335	1,255
GOODWILL	9,036	8,988
OTHER INTANGIBLE ASSETS—NET	2,733	2,747
OTHER NON-CURRENT ASSETS	185	242
TOTAL ASSETS	20,685	19,970
CURRENT LIABILITIES:
Current portion of long-term debt	81	71
Short-term borrowings—trade receivable securitization facility	449	349
Accounts payable	288	305
Accrued and other current liabilities	1,000	854
Total current liabilities	1,818	1,579
LONG-TERM DEBT	21,346	19,330
DEFERRED INCOME TAXES	611	627
OTHER NON-CURRENT LIABILITIES	416	412
Total liabilities	24,191	21,948
TD GROUP STOCKHOLDERS’ DEFICIT:
Common stock - $.01 par value; authorized 224,400,000 shares; issued 61,211,663 and 60,995,513 at December 30, 2023 and September 30, 2023, respectively	1	1
Additional paid-in capital	2,518	2,440
Accumulated deficit	(4,266)	(2,621)
Accumulated other comprehensive loss	(60)	(98)
Treasury stock, at cost; 5,688,639 shares at December 30, 2023 and September 30, 2023, respectively	1,706	1,706
Total TD Group stockholders’ deficit	(3,513)	(1,984)
NONCONTROLLING INTERESTS	7	6
Total stockholders’ deficit	(3,506)	(1,978)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$ 20,685	$ 19,970

DERIVATIVES AND HEDGING ACTIVITIES (Tables)

3 Months Ended

Dec. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

Interest rate swap agreements:

Aggregate Notional Amount (in millions)

Effective Date

Maturity Date

Conversion of Related Variable Rate Debt subject to Term SOFR to Fixed Rate of:

$400

3/31/2023

6/28/2024

6.25% (3.0% plus the 3.25% margin percentage)

$900

3/31/2023

6/28/2024

6.35% (3.1% plus the 3.25% margin percentage)

$500

3/31/2023

3/31/2025

6.25% (3.0% plus the 3.25% margin percentage)

$1,500

3/31/2023

3/31/2025

6.35% (3.1% plus the 3.25% margin percentage)

$700

3/31/2023

9/30/2025

4.55% (1.3% plus the 3.25% margin percentage)

Interest rate cap agreement:

Aggregate Notional Amount (in millions)

Effective Date

Maturity Date

Offsets Variable Rate Debt Attributable to Fluctuations Above:

$700

3/31/2023

9/30/2025

Three-month Term SOFR rate of 1.25%

Interest rate collar agreements:

Aggregate Notional Amount (in millions)

Effective Date

Maturity Date

Offsets Variable Rate Debt Attributable to Fluctuations Below and Above:

$1,100

3/31/2025

9/30/2026

Three-month Term SOFR rate of 2.00% (floor) and 3.50% (cap)

$500

9/30/2025

9/30/2026

Three-month Term SOFR rate of 2.00% (floor) and 3.50% (cap)

Schedule of Interest Rate Derivatives


	December 30, 2023				September 30, 2023
	Asset		Liability		Asset		Liability
Interest rate cap agreement	$	39	$	1	$	53	$	1
Interest rate collar agreements	4		—		17		—
Interest rate swap agreements	95		3		144		3
Net derivatives as classified in the condensed consolidated balance sheets (1)	$	138	$	4	$	214	$	4

(1)Refer to Note 9, “Fair Value Measurements,” for the condensed consolidated balance sheets classification of the Company's interest rate swap, cap and collar agreements.

DEBT

3 Months Ended

Dec. 30, 2023

Debt Disclosure [Abstract]

DEBT

The Company’s debt consists of the following (in millions):


	December 30, 2023
	Gross Amount		Debt Issuance Costs		Original Issue (Discount) or Premium		Net Amount
Short-term borrowings—trade receivable securitization facility	$	450	$	(1)	$	—	$	449
Term loans	$	7,233	$	(29)	$	(47)	$	7,157

6.25% secured notes due 2026 (“2026 Secured Notes”)	4,400		(23)		2		4,379
7.50% senior subordinated notes due 2027 (“7.50% 2027 Notes”)	550		(2)		—		548
5.50% senior subordinated notes due 2027 (“5.50% 2027 Notes”)	2,650		(12)		—		2,638
6.75% secured notes due 2028 (“2028 Secured Notes”)	2,100		(18)		(9)		2,073
4.625% senior subordinated notes due 2029 (“4.625% 2029 Notes”)	1,200		(7)		—		1,193
4.875% senior subordinated notes due 2029 (“4.875% 2029 Notes”)	750		(5)		—		745
6.875% secured notes due 2030 (“2030 Secured Notes”)	1,450		(14)		—		1,436
7.125% secured notes due 2031 (“2031 Secured Notes”)	1,000		(10)		(7)		983
Government refundable advances	21		—		—		21
Finance lease obligations	254		—		—		254
	21,608		(120)		(61)		21,427
Less: current portion	81		—		—		81
Long-term debt	$	21,527	$	(120)	$	(61)	$	21,346


	September 30, 2023
	Gross Amount		Debt Issuance Costs		Original Issue (Discount) or Premium		Net Amount
Short-term borrowings—trade receivable securitization facility	$	350	$	(1)	$	—	$	349
Term loans	$	6,249	$	(22)	$	(48)	$	6,179

2026 Secured Notes	4,400		(25)		2		4,377
7.50% 2027 Notes	550		(2)		—		548
5.50% 2027 Notes	2,650		(12)		—		2,638
2028 Secured Notes	2,100		(19)		(10)		2,071
4.625% 2029 Notes	1,200		(7)		—		1,193
4.875% 2029 Notes	750		(5)		—		745
2030 Secured Notes	1,450		(14)		—		1,436
Government refundable advances	21		—		—		21
Finance lease obligations	193		—		—		193
	19,563		(106)		(56)		19,401
Less: current portion	71		—		—		71
Long-term debt	$	19,492	$	(106)	$	(56)	$	19,330

Amendment No. 13 and Incremental Term Loan Assumption Agreement – On November 28, 2023, the Company entered into Amendment No. 13 and Incremental Term Loan Assumption Agreement (herein, “Amendment No. 13”) to the Second Amended and Restated Credit Agreement dated as of June 4, 2014 (the “Credit Agreement”). Under the terms of Amendment No. 13, the Company, among other things, issued $1,000 million in Tranche J term loans maturing February 28, 2031. The Tranche J term loans bear interest at a rate of adjusted Term Secured Overnight Financing Rate (“Term SOFR”) plus an applicable margin of 3.25%. The Tranche J term loans were issued at a discount of 0.25%, or approximately $3 million. The Tranche J term loans were fully drawn on November 28, 2023 and the other terms and conditions that apply to the Tranche J term loans are substantially the same as the terms and conditions that apply to the term loans immediately prior to Amendment No. 13. Principal payments commence on March 31, 2024, in which $3 million will be paid on a quarterly basis up to the maturity date.

The Company capitalized $10 million in debt issuance costs associated with the Tranche J term loans during the thirteen week period ended December 30, 2023.

Issuance of $1,000 million Senior Secured Notes due 2031 – On November 28, 2023, the Company entered into a purchase agreement in connection with a private offering of $1,000 million in aggregate principal amount of 7.125% senior secured notes due 2031 (the “2031 Secured Notes”) at an issue price of 99.25% of the principal amount, which represents an approximately $8 million discount. The 2031 Secured Notes were issued pursuant to an indenture, dated as of November 28, 2023, amongst TransDigm Inc., as issuer, TransDigm Group and the other subsidiaries of TransDigm Inc. named therein, as guarantors. The 2031 Secured Notes are guaranteed, on a senior secured basis, by TransDigm Group and each of TransDigm Inc.’s direct and indirect restricted subsidiaries that is a borrower or guarantor under TransDigm’s senior secured credit facilities or that issues or guarantees any capital markets indebtedness of TransDigm or any of the guarantors in an aggregate principal amount of at least $200 million. The 2031 Secured Notes and guarantees rank equally in right of payment with all of TransDigm’s and the guarantors’ existing and future senior indebtedness, senior in right of payment to any of TransDigm’s and the guarantors’ existing and future indebtedness that is, by its terms, expressly subordinated in right of payment to the 2031 Secured Notes and guarantees, and structurally subordinated to all of the liabilities of TransDigm’s non-guarantor subsidiaries.

The 2031 Secured Notes bear interest at a rate of 7.125% per annum, which accrues from November 28, 2023 and is payable in arrears on June 1 and December 1 of each year, commencing on June 1, 2024. The 2031 Secured Notes mature on December 1, 2031, unless earlier redeemed or repurchased, and are subject to the terms and conditions set forth in the indenture.

The Company capitalized $10 million in debt issuance costs associated with the 2031 Secured Notes during the thirteen week period ended December 30, 2023.

Trade Receivable Securitization Facility – The Company’s trade receivable securitization facility (the “Securitization Facility”) effectively increases the Company’s borrowing capacity depending on the amount of the domestic operations’ trade accounts receivable. The Securitization Facility includes the right for the Company to exercise annual one year extensions as long as there have been no termination events as defined by the agreement. The Company uses the proceeds from the Securitization Facility as an alternative to other forms of debt, effectively reducing borrowing costs.

On July 25, 2023, the Company amended the Securitization Facility to, among other things, increase the borrowing capacity from $350 million to $450 million and extend the maturity date to July 25, 2024. During the first quarter of fiscal 2024, the Company drew the remaining $100 million available under the Securitization Facility. As of December 30, 2023, the Company has borrowed $450 million under the Securitization Facility, which is fully drawn, and bears interest at a rate of 1.6% plus Term SOFR. At December 30, 2023, the applicable interest rate was 6.99%. The Securitization Facility is collateralized by substantially all of the Company’s domestic operations’ trade accounts receivable.

Government Refundable Advances – Government refundable advances consist of payments received from the Canadian government to assist in research and development related to commercial aviation. The requirement to repay this advance is based on year-over-year commercial aviation revenue growth for certain product lines at CMC Electronics, which is a wholly-owned subsidiary of TransDigm. As of December 30, 2023 and September 30, 2023, the outstanding balance of these advances was $21 million.

Obligations under Finance Leases – The Company leases certain buildings and equipment under finance leases. The present value of the minimum finance lease payments, net of the current portion, represents a balance of $254 million and $193 million at December 30, 2023 and September 30, 2023, respectively. The increase in the current fiscal year is attributable to certain new leases of facilities and amendments to previous agreements qualifying as lease modifications resulting in a change in classification from an operating lease to a finance lease. Refer to Note 13, “Leases,” for further disclosure of the Company's lease obligations.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

DERIVATIVES AND HEDGING ACTIVITIES - Summary of Outstanding Interest Rate Swap, Cap and Collar Agreements (Details) $ in Millions	Dec. 30, 2023 USD ($)
6.25% Interest rate swap, effective March 31, 2023 and maturing June 28, 2024
Derivative [Line Items]
Derivative, Notional Amount	$ 400
Derivative, Fixed Interest Rate	6.25%
Derivative, Variable Interest Rate	3.00%
Derivative, Basis Spread on Variable Rate	3.25%
6.35% Interest rate swap, effective March 31, 2023 and maturing June 28, 2024
Derivative [Line Items]
Derivative, Notional Amount	$ 900
Derivative, Fixed Interest Rate	6.35%
Derivative, Variable Interest Rate	3.10%
Derivative, Basis Spread on Variable Rate	3.25%
6.25% Interest rate swap, effective March 31, 2023 and maturing March 31, 2025
Derivative [Line Items]
Derivative, Notional Amount	$ 500
Derivative, Fixed Interest Rate	6.25%
Derivative, Variable Interest Rate	3.00%
Derivative, Basis Spread on Variable Rate	3.25%
6.35% Interest rate swap, effective March 31, 2023 and maturing March 31, 2025
Derivative [Line Items]
Derivative, Notional Amount	$ 1,500
Derivative, Fixed Interest Rate	6.35%
Derivative, Variable Interest Rate	3.10%
Derivative, Basis Spread on Variable Rate	3.25%
4.55% Interest rate swap, effective March 31, 2023 and maturing September 30, 2025
Derivative [Line Items]
Derivative, Notional Amount	$ 700
Derivative, Fixed Interest Rate	4.55%
Derivative, Variable Interest Rate	1.30%
Derivative, Basis Spread on Variable Rate	3.25%
1.25% Interest rate cap, effective March 31, 2023 and maturing September 30, 2025
Derivative [Line Items]
Derivative, Notional Amount	$ 700
Derivative, Cap Interest Rate	1.25%
2.00-3.50% Interest rate collar, effective March 31, 2025 and maturing September 30, 2026
Derivative [Line Items]
Derivative, Notional Amount	$ 1,100
Derivative, Cap Interest Rate	3.50%
Derivative, Floor Interest Rate	2.00%
2.00-3.50% Interest rate collar, effective September 30, 2025 and maturing September 30, 2026
Derivative [Line Items]
Derivative, Notional Amount	$ 500
Derivative, Cap Interest Rate	3.50%
Derivative, Floor Interest Rate	2.00%