Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Jul. 01, 2016 | Jul. 29, 2016 | |
Entity Registrant Name | Dolby Laboratories, Inc. | |
Entity Central Index Key | 1,308,547 | |
Current Fiscal Year End Date | --09-30 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Jul. 1, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Class A Common Stock [Member] | ||
Entity Common Stock, Shares Outstanding | 55,272,713 | |
Class B Common Stock [Member] | ||
Entity Common Stock, Shares Outstanding | 45,682,736 |
Interim Condensed Consolidated
Interim Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Jul. 01, 2016 | Sep. 25, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 599,991 | $ 531,926 |
Restricted cash | 5,673 | 2,936 |
Short-term investments | 118,778 | 138,901 |
Accounts receivable, net of allowance for doubtful accounts of $2,534 and $1,542 | 91,637 | 101,563 |
Inventories | 18,544 | 13,872 |
Prepaid expenses and other current assets | 37,306 | 32,031 |
Total current assets | 871,929 | 821,229 |
Long-term investments | 266,431 | 321,015 |
Property, plant and equipment, net | 428,225 | 403,091 |
Intangible assets, net | 222,868 | 127,507 |
Goodwill | 309,020 | 307,708 |
Deferred taxes | 149,633 | 143,279 |
Other non-current assets | 15,247 | 9,464 |
Total assets | 2,263,353 | 2,133,293 |
Current liabilities: | ||
Accounts payable | 14,762 | 20,710 |
Accrued liabilities | 174,573 | 169,307 |
Income taxes payable | 212 | 754 |
Deferred revenue | 22,530 | 18,910 |
Total current liabilities | 212,077 | 209,681 |
Long-term deferred revenue | 34,903 | 30,581 |
Other non-current liabilities | 76,053 | 77,024 |
Total liabilities | 323,033 | 317,286 |
Stockholders' equity: | ||
Additional paid-in capital | 15,380 | 17,571 |
Retained earnings | 1,926,528 | 1,800,857 |
Accumulated other comprehensive (loss) | (10,205) | (11,462) |
Total stockholders’ equity – Dolby Laboratories, Inc. | 1,931,805 | 1,807,068 |
Controlling interest | 8,515 | 8,939 |
Total stockholders’ equity | 1,940,320 | 1,816,007 |
Total liabilities and stockholders’ equity | 2,263,353 | 2,133,293 |
Class A, $0.001 par value, one vote per share, 500,000,000 shares authorized: 54,978,917 shares issued and outstanding at July 1, 2016 and 50,291,426 at September 25, 2015 | ||
Stockholders' equity: | ||
Common stock | 56 | 51 |
Class B, $0.001 par value, ten votes per share, 500,000,000 shares authorized: 45,888,962 shares issued and outstanding at July 1, 2016 and 50,743,311 at September 25, 2015 | ||
Stockholders' equity: | ||
Common stock | $ 46 | $ 51 |
Interim Condensed Consolidated3
Interim Condensed Consolidated Balance Sheets (Parenthetical) $ in Thousands | Jul. 01, 2016USD ($)vote / shares$ / sharesshares | Sep. 25, 2015USD ($)vote / shares$ / sharesshares |
Allowance for doubtful accounts | $ | $ (2,534) | $ (1,542) |
Class A Common Stock [Member] | ||
Common stock, par value (usd per share) | $ / shares | $ 0.001 | $ 0.001 |
Common stock voting right per share (votes per share) | vote / shares | 1 | 1 |
Common stock, shares authorized (shares) | 500,000,000 | 500,000,000 |
Common stock, shares issued (shares) | 54,978,917 | 50,291,426 |
Common stock, shares outstanding (shares) | 54,978,917 | 50,291,426 |
Class B Common Stock [Member] | ||
Common stock, par value (usd per share) | $ / shares | $ 0.001 | $ 0.001 |
Common stock voting right per share (votes per share) | vote / shares | 10 | 10 |
Common stock, shares authorized (shares) | 500,000,000 | 500,000,000 |
Common stock, shares issued (shares) | 45,888,962 | 50,743,311 |
Common stock, shares outstanding (shares) | 45,888,962 | 50,743,311 |
Interim Condensed Consolidated4
Interim Condensed Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jul. 01, 2016 | Jun. 26, 2015 | Jul. 01, 2016 | Jun. 26, 2015 | |
Revenue: | ||||
Licensing | $ 253,026 | $ 204,855 | $ 713,491 | $ 664,786 |
Products | 20,638 | 22,596 | 65,510 | 58,844 |
Services | 3,923 | 4,251 | 13,740 | 14,260 |
Total revenue | 277,587 | 231,702 | 792,741 | 737,890 |
Cost of revenue: | ||||
Cost of licensing | 6,620 | 1,347 | 19,851 | 8,615 |
Cost of products | 14,098 | 20,027 | 47,114 | 50,848 |
Cost of services | 3,903 | 3,506 | 11,795 | 9,976 |
Total cost of revenue | 24,621 | 24,880 | 78,760 | 69,439 |
Gross margin | 252,966 | 206,822 | 713,981 | 668,451 |
Operating expenses: | ||||
Research and development | 54,977 | 45,508 | 160,393 | 150,703 |
Sales and marketing | 74,234 | 70,782 | 220,503 | 204,740 |
General and administrative | 42,570 | 45,587 | 129,130 | 135,956 |
Restructuring charges/(credits) | (10) | 0 | 1,245 | (39) |
Total operating expenses | 171,771 | 161,877 | 511,271 | 491,360 |
Operating income | 81,195 | 44,945 | 202,710 | 177,091 |
Other income/expense: | ||||
Interest income | 1,464 | 1,453 | 4,011 | 3,444 |
Interest expense | (26) | (69) | (88) | (115) |
Other income/(expense), net | (849) | 1,049 | (1,542) | 1,159 |
Total other income | 589 | 2,433 | 2,381 | 4,488 |
Income before income taxes | 81,784 | 47,378 | 205,091 | 181,579 |
Provision for income taxes | (18,017) | (11,522) | (42,768) | (45,254) |
Net income including controlling interest | 63,767 | 35,856 | 162,323 | 136,325 |
Less: net (income) attributable to controlling interest | (139) | (350) | (396) | (1,488) |
Net income attributable to Dolby Laboratories, Inc. | $ 63,628 | $ 35,506 | $ 161,927 | $ 134,837 |
Net Income Per Share: | ||||
Basic (in usd per share) | $ 0.63 | $ 0.35 | $ 1.61 | $ 1.32 |
Diluted (in usd per share) | $ 0.62 | $ 0.34 | $ 1.59 | $ 1.29 |
Weighted-Average Shares Outstanding: | ||||
Basic (in shares) | 100,533 | 102,670 | 100,578 | 102,494 |
Diluted (in shares) | 102,677 | 104,105 | 101,979 | 104,127 |
Related party rent expense: | ||||
Included in operating expenses | $ 778 | $ 815 | $ 2,315 | $ 2,358 |
Included in net income attributable to controlling interest | $ 179 | $ 1,159 | $ 529 | $ 3,463 |
Common stock, dividends declared (in dollars per share) | $ 0.12 | $ 0.10 | $ 0.36 | $ 0.30 |
Common Stock, Dividends, Per Share, Cash Paid | $ 0.12 | $ 0.10 | $ 0.36 | $ 0.30 |
Interim Condensed Consolidated5
Interim Condensed Consolidated Statements of Comprehensive Income Statement - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jul. 01, 2016 | Jun. 26, 2015 | Jul. 01, 2016 | Jun. 26, 2015 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income including controlling interest | $ 63,767 | $ 35,856 | $ 162,323 | $ 136,325 |
Other comprehensive income: | ||||
Foreign currency translation adjustments, net of tax | (2,875) | 1,146 | (753) | (10,726) |
Unrealized gains/(losses) on available-for-sale securities, net of tax | 701 | (729) | 1,404 | (64) |
Comprehensive income | 61,593 | 36,273 | 162,974 | 125,535 |
Less: comprehensive (income) attributable to controlling interest | 172 | (626) | 210 | (1,103) |
Comprehensive income attributable to Dolby Laboratories, Inc. | $ 61,765 | $ 35,647 | $ 163,184 | $ 124,432 |
Interim Condensed Consolidated6
Interim Condensed Consolidated Statements Of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] | Total Dolby Laboratories,Inc.[Member] | Controlling Interest [Member] |
Beginning balance at Sep. 26, 2014 | $ 1,731,648 | $ 103 | $ 46,415 | $ 1,660,485 | $ 3,014 | $ 1,710,017 | $ 21,631 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 136,325 | 134,837 | 134,837 | 1,488 | |||
Translation adjustments, net of tax of $829 and $(64), respectively | (10,726) | (10,341) | (10,341) | (385) | |||
Unrealized gains (losses) on available-for-sale securities, net of tax of $(327) and $(98), respectively | (64) | (64) | (64) | ||||
Distributions to controlling interest | (5,628) | (5,628) | |||||
Stock-based compensation expense | 50,822 | 50,822 | 50,822 | ||||
Repurchase of common stock | (47,956) | (1) | (47,955) | (47,956) | |||
Cash dividends declared and paid on common stock | (30,744) | (30,744) | (30,744) | ||||
Tax benefit/(deficiency) from the stock incentive plans | 1,167 | 1,167 | 1,167 | ||||
Common stock issued under employee stock plans | 28,050 | 2 | 28,048 | 28,050 | |||
Tax withholdings on vesting of restricted stock | (12,918) | (12,918) | (12,918) | ||||
Exercise of class B stock options | 7 | 7 | 7 | ||||
Ending balance at Jun. 26, 2015 | 1,839,983 | 104 | 65,586 | 1,764,578 | (7,391) | 1,822,877 | 17,106 |
Beginning balance at Sep. 25, 2015 | 1,816,007 | 102 | 17,571 | 1,800,857 | (11,462) | 1,807,068 | 8,939 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 162,323 | 161,927 | 161,927 | 396 | |||
Translation adjustments, net of tax of $829 and $(64), respectively | (753) | (147) | (147) | (606) | |||
Unrealized gains (losses) on available-for-sale securities, net of tax of $(327) and $(98), respectively | 1,404 | 1,404 | 1,404 | ||||
Distributions to controlling interest | (214) | 0 | 0 | (214) | |||
Stock-based compensation expense | 51,473 | 51,473 | 51,473 | ||||
Repurchase of common stock | (84,854) | (2) | (84,852) | 0 | (84,854) | ||
Cash dividends declared and paid on common stock | (36,256) | (36,256) | (36,256) | ||||
Tax benefit/(deficiency) from the stock incentive plans | (724) | (724) | (724) | ||||
Common stock issued under employee stock plans | 44,068 | 2 | 44,066 | 44,068 | |||
Tax withholdings on vesting of restricted stock | (12,154) | 0 | (12,154) | (12,154) | |||
Ending balance at Jul. 01, 2016 | $ 1,940,320 | $ 102 | $ 15,380 | $ 1,926,528 | $ (10,205) | $ 1,931,805 | $ 8,515 |
Interim Condensed Consolidated7
Interim Condensed Consolidated Statements Of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands | 9 Months Ended | |
Jul. 01, 2016 | Jun. 26, 2015 | |
Statement of Stockholders' Equity [Abstract] | ||
Foreign currency translation tax | $ 476 | $ 641 |
Unrealized gains (losses) on available-for-sale securities, tax | $ (26) | $ (165) |
Interim Condensed Consolidated8
Interim Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Jul. 01, 2016 | Jun. 26, 2015 | |
Operating activities: | ||
Net income including controlling interest | $ 162,323 | $ 136,325 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 63,829 | 50,767 |
Stock-based compensation | 51,473 | 50,822 |
Amortization of premium on investments | 3,288 | 7,224 |
Excess tax benefit from exercise of stock options | (1,313) | (2,532) |
Provision for doubtful accounts | 1,133 | (30) |
Deferred income taxes | (5,838) | (15,088) |
Other non-cash items affecting net income | 306 | 1,928 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 8,798 | (9,317) |
Inventories | (6,024) | 5,238 |
Prepaid expenses and other assets | (11,075) | (6,179) |
Accounts payable and other liabilities | 10,808 | (18,909) |
Income taxes, net | (1,612) | 18,290 |
Deferred revenue | 8,052 | 7,158 |
Other non-current liabilities | (193) | 420 |
Net cash provided by operating activities | 283,955 | 226,117 |
Investing activities: | ||
Purchase of investments | (247,680) | (357,096) |
Proceeds from sales of investment securities | 242,141 | 220,636 |
Proceeds from maturities of investment securities | 77,668 | 117,545 |
Purchases of property, plant and equipment | (77,079) | (119,769) |
Payments for business acquisitions, net of cash acquired | 0 | (93,516) |
Purchases of intangible assets | (118,770) | (22,716) |
Change in restricted cash | (2,737) | 223 |
Net cash provided by/(used in) investing activities | (126,457) | (254,693) |
Financing activities: | ||
Proceeds from issuance of common stock | 44,067 | 28,057 |
Repurchase of common stock | (84,854) | (47,956) |
Payment of cash dividend | (36,256) | (30,744) |
Distribution to controlling interest | (214) | (5,628) |
Excess tax benefit from the exercise of stock options | 1,313 | 2,532 |
Shares repurchased for tax withholdings on vesting of restricted stock | (12,153) | (12,918) |
Net cash used in financing activities | (88,097) | (66,657) |
Effect of foreign exchange rate changes on cash and cash equivalents | (1,336) | (2,371) |
Net increase/(decrease) in cash and cash equivalents | 68,065 | (97,604) |
Cash and cash equivalents at beginning of period | 531,926 | 568,472 |
Cash and cash equivalents at end of period | 599,991 | |
Supplemental disclosure: | ||
Cash paid for income taxes, net of refunds received | 50,235 | 39,509 |
Change in PP&E purchased and unpaid at period-end | (13,911) | 29,839 |
Noncash or Part Noncash Acquisition, Consideration Payable | $ 95 | $ 740 |
Basis Of Presentation
Basis Of Presentation | 9 Months Ended |
Jul. 01, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis Of Presentation | Basis of Presentation Unaudited Interim Condensed Consolidated Financial Statements We have prepared the accompanying unaudited interim condensed consolidated financial statements in accordance with U.S. GAAP, and with SEC rules and regulations, which allow for certain information and footnote disclosures that are normally included in annual financial statements prepared in accordance with GAAP to be condensed or omitted. In our opinion, these unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements for the fiscal year ended September 25, 2015 and include all adjustments necessary for fair presentation. The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with our consolidated financial statements for the fiscal year ended September 25, 2015 , which are included in our Annual Report on Form 10-K filed with the SEC. The results for the fiscal quarter ended July 1, 2016 are not necessarily indicative of the results to be expected for any subsequent quarterly or annual financial period, including the fiscal year ending September 30, 2016 . Principles of Consolidation The unaudited interim condensed consolidated financial statements include the accounts of Dolby Laboratories, Inc. and our wholly owned subsidiaries. In addition, we have consolidated the financial results of jointly owned affiliated companies in which our principal stockholder has a controlling interest. We report these controlling interests as a separate line in our consolidated statements of operations as net income attributable to controlling interest and in our consolidated balance sheets as a controlling interest. We eliminate all intercompany accounts and transactions upon consolidation. Operating Segments We operate as a single reporting segment, and thus all required financial segment information is included in our unaudited interim condensed consolidated financial statements. This determination reflects the fact that our CODM, our Chief Executive Officer, evaluates our financial information and resources, and assesses the performance of these resources on a consolidated basis. Use of Estimates The preparation of our financial statements in accordance with GAAP requires management to make certain estimates and assumptions that affect the amounts reported and disclosed in our unaudited interim condensed consolidated financial statements and accompanying notes. Significant items subject to such estimates and assumptions include estimated selling prices for elements sold in ME revenue arrangements; valuation allowances for accounts receivable; carrying values of inventories and certain property, plant, and equipment, goodwill and intangible assets; fair values of investments; accrued liabilities including liabilities for unrecognized tax benefits, deferred income tax assets and liabilities and stock-based compensation. Actual results could differ from our estimates. Fiscal Year Our fiscal year is a 52 or 53 week period ending on the last Friday in September. The fiscal periods presented herein include the 13 and 40 week periods ended July 1, 2016 and the 13 and 39 week periods ended June 26, 2015 . Our fiscal year ended September 25, 2015 (fiscal 2015 ) consisted of 52 weeks while our fiscal year ending September 30, 2016 (fiscal 2016 ) will consist of 53 weeks. Reclassifications We have reclassified certain prior period amounts within our consolidated financial statements and accompanying notes to conform to our current period presentation. These reclassifications did not affect total revenue, operating income, operating cash flows or net income. |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 9 Months Ended |
Jul. 01, 2016 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2 . Summary of Significant Accounting Policies We continually assess any ASUs or other new accounting pronouncements issued by the FASB to determine their applicability and impact on us. Where it is determined that a new accounting pronouncement will result in a change to our financial reporting, we take the appropriate steps to ensure that such changes are properly reflected in our consolidated financial statements or notes thereto. Recently Issued Accounting Standards Adopted Standards Balance Sheet Classification - Deferred Taxes. During the first quarter of fiscal 2016, we elected to early-adopt ASU 2015-17, Balance Sheet Classification of Deferred Taxes . The new standard requires classification of all deferred tax assets and liabilities as non-current, which represents a change from our historical presentation whereby certain of our deferred tax assets and liabilities were classified as current, and the remainder were classified as non-current. We elected a transition method to apply the changes from the new standard on a retrospective basis, and upon adoption, reclassified $97.1 million of deferred tax assets from current assets to non-current assets on our consolidated balance sheet as of September 25, 2015. With the exception of the impact from the adoption of ASU 2015-17 discussed above, there have not been any changes to our significant accounting policies from those that were described in our Form 10-K for the prior fiscal year ended September 25, 2015 . Standards Not Yet Effective Revenue Recognition. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. This new standard will replace existing revenue recognition guidance in U.S. GAAP when it becomes effective, and may also impact the accounting for certain direct costs associated with revenues. The new standard permits the use of either the retrospective or cumulative effect transition method. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606), Identifying Performance Obligations and Licensing , which clarifies guidance related to identifying performance obligations and licensing implementation guidance contained in the new revenue recognition standard, ASU 2014-09. The effective date for this ASU coincides with the effective date for ASU 2014-09. We are evaluating the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures, and have yet to select a transition method or determine the effect of the standard on our ongoing financial reporting. Although permitted, we do not intend to early-adopt the new standard, but we will adopt it beginning September 30, 2018. Consolidation. In February 2015, the FASB issued ASU No. 2015-02, Consolidation: Amendments to the Consolidation Analysis , which amends the consolidation requirements in ASC 810 and significantly changes the consolidation analysis required under U.S. GAAP. Among others, the ASU significantly amends how variable interests held by a reporting entity’s related parties or de facto agents affect its consolidation conclusion. We will adopt the standard beginning October 1, 2016. Inventory. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory , which affects reporting entities that measure inventory using first-in, first-out (FIFO) or average cost. Specifically, ASU 2015-11 requires that inventory be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. The ASU is effective for us beginning September 30, 2017. Early adoption is permitted, and we are currently evaluating the timing and impact of the standard on our consolidated financial statements. Leases. In February 2016, the FASB issued ASU 2016-02, Leases, which amends the existing accounting standards for leases. Under the new guidance, a lessee will be required to recognize a lease liability and right-of-use asset for all leases with terms in excess of twelve months. The new guidance also modifies the classification criteria and accounting for sales-type and direct financing leases, and requires additional disclosures to enable users of financial statements to understand the amount, timing, and uncertainty of cash flows arising from leases. Consistent with current guidance, a lessee's recognition, measurement, and presentation of expenses and cash flows arising from a lease will continue to depend primarily on its classification. The ASU is effective for us beginning September 28, 2019, and must be applied using a modified retrospective approach. Early adoption is permitted, including adoption in an interim period, and we are currently evaluating the timing and impact of the standard on our consolidated financial statements. Share-Based Compensation . In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting , which simplifies several aspects of the accounting for employee share-based payment transactions including the accounting for income taxes, forfeitures, and statutory withholding requirements, as well as classification in the statement of cash flows. The ASU is effective for us beginning September 30, 2017. Early adoption is permitted, including adoption in an interim period, and we are currently evaluating the timing and impact of the standard on our consolidated financial statements. |
Composition Of Certain Financia
Composition Of Certain Financial Statement Captions | 9 Months Ended |
Jul. 01, 2016 | |
Composition Of Certain Financial Statement Captions [Abstract] | |
Composition Of Certain Financial Statement Captions | Composition of Certain Financial Statement Captions The following tables present detailed information from our consolidated balance sheets as of July 1, 2016 and September 25, 2015 (amounts displayed in thousands, except as otherwise noted). Accounts Receivable Accounts Receivable, Net July 1, September 25, Trade accounts receivable $ 83,505 $ 94,559 Accounts receivable from patent administration program customers 10,666 8,546 Accounts receivable, gross 94,171 103,105 Less: allowance for doubtful accounts (2,534 ) (1,542 ) Total $ 91,637 $ 101,563 Inventories Inventories July 1, September 25, Raw materials $ 4,849 $ 3,246 Work in process 5,696 3,279 Finished goods 7,999 7,347 Total $ 18,544 $ 13,872 Inventories are stated at the lower of cost or market. Inventory with a consumption period expected to exceed twelve months is recorded within other non-current assets in our consolidated balance sheets. In addition to the amounts shown in the table above, we have included $1.6 million and $1.4 million of raw materials inventory within other non-current assets in our consolidated balance sheets as of July 1, 2016 and September 25, 2015 , respectively. Based on anticipated inventory consumption rates, and aside from existing write-downs due to excess and obsolete inventory, we do not believe that material risk of obsolescence exists prior to ultimate sale. Prepaid Expenses And Other Current Assets Prepaid Expenses And Other Current Assets July 1, September 25, Prepaid expenses $ 17,860 $ 13,680 Other current assets 8,859 7,525 Income tax receivable 10,587 10,826 Total $ 37,306 $ 32,031 Accrued Liabilities Accrued Liabilities July 1, September 25, Accrued royalties $ 2,100 $ 1,951 Amounts payable to patent administration program partners 56,706 40,466 Accrued compensation and benefits 62,407 70,317 Accrued professional fees 6,169 6,523 Other accrued liabilities 47,191 50,050 Total $ 174,573 $ 169,307 Other accrued liabilities include the accrual for unpaid PP&E additions of $9.1 million and $20.5 million as of July 1, 2016 and September 25, 2015 , respectively. Other Non-Current Liabilities Other Non-Current Liabilities July 1, September 25, Supplemental retirement plan obligations $ 2,576 $ 2,400 Non-current tax liabilities 62,305 62,843 Other liabilities 11,172 11,781 Total $ 76,053 $ 77,024 |
Investments & Fair Value Measur
Investments & Fair Value Measurements | 9 Months Ended |
Jul. 01, 2016 | |
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract] | |
Investments & Fair Value Measurements | Investments & Fair Value Measurements We use cash holdings to purchase investment grade securities diversified among security types, industries and issuers. All investments are measured at fair value, and are recorded within cash equivalents and both short-term and long-term investments in our consolidated balance sheets. With the exception of our mutual fund investments held in our SERP and classified as trading securities, all of our investments are classified as available-for-sale securities. Our investments primarily consist of municipal debt securities, corporate bonds, U.S. agency securities and commercial paper. In addition, our cash and cash equivalents also consist of highly-liquid money market funds. Consistent with our investment policy, none of our held municipal debt investments are supported by letters of credit or standby purchase agreements. Our cash and investment portfolio consists of the following (in thousands): July 1, 2016 Cost Unrealized Estimated Fair Value Gains Losses Total Level 1 Level 2 Level 3 Cash and cash equivalents: Cash $ 534,912 $ 534,912 Cash equivalents: Money market funds 65,004 — — 65,004 65,004 Corporate bonds 75 — — 75 75 Cash and cash equivalents 599,991 — — 599,991 65,004 75 — Short-term investments: Certificate of deposit (1) 9,950 — (1 ) 9,949 9,949 Government bonds 2,999 4 — 3,003 3,003 Commercial paper 8,467 2 — 8,469 8,469 Corporate bonds 74,354 39 (6 ) 74,387 74,387 Municipal debt securities 22,972 9 (11 ) 22,970 22,970 Short-term investments 118,742 54 (18 ) 118,778 3,003 115,775 — Long-term investments: Certificate of deposit (1) 4,500 — — 4,500 4,500 U.S. agency securities 10,041 31 — 10,072 10,072 Government bonds 13,478 129 — 13,607 13,607 Corporate bonds 200,704 1,253 (47 ) 201,910 201,910 Municipal debt securities 32,535 220 — 32,755 32,755 Other long-term investments (2) 3,231 356 — 3,587 356 Long-term investments 264,489 1,989 (47 ) 266,431 24,035 239,165 — Total cash, cash equivalents, and investments $ 983,222 $ 2,043 $ (65 ) $ 985,200 $ 92,042 $ 355,015 $ — Investments held in supplemental retirement plan: Assets 2,563 2,563 2,563 Included in prepaid expenses and other current assets & other non-current assets Liabilities 2,563 2,563 2,563 Included in accrued liabilities & other non-current liabilities Contingent consideration related to acquisition: Liabilities 95 95 95 Included in accrued liabilities (1) Certificates of deposit include marketable securities, while those with a maturity in excess of one year as of July 1, 2016 classified within long-term investments. (2) Other long-term investments as of July 1, 2016 include a marketable equity security of $0.4 million , and other investments that are not carried at fair value including an equity method investment of $0.7 million and two cost method investments of $2.0 million and $0.5 million . September 25, 2015 Cost Unrealized Estimated Fair Value Gains Losses Total Level 1 Level 2 Level 3 Cash and cash equivalents: Cash $ 511,736 $ 511,736 Cash equivalents: Money market funds 19,014 — — 19,014 19,014 Corporate bonds 1,176 — — 1,176 1,176 Cash and cash equivalents 531,926 — — 531,926 19,014 1,176 — Short-term investments: Government bonds 2,000 1 — 2,001 2,001 Commercial paper 6,478 — — 6,478 6,478 Corporate bonds 86,543 46 (11 ) 86,578 86,578 Municipal debt securities 43,746 98 — 43,844 43,844 Short-term investments 138,767 145 (11 ) 138,901 2,001 136,900 — Long-term investments: U.S. agency securities 1,999 1 — 2,000 2,000 Government bonds 30,505 19 (17 ) 30,507 30,507 Corporate bonds 167,394 138 (392 ) 167,140 167,140 Municipal debt securities 117,552 189 (60 ) 117,681 117,681 Other long-term investments (1) 2,961 726 — 3,687 726 Long-term investments 320,411 1,073 (469 ) 321,015 33,233 284,821 — Total cash, cash equivalents, and investments $ 991,104 $ 1,218 $ (480 ) $ 991,842 $ 54,248 $ 422,897 $ — Investments held in supplemental retirement plan: Assets 2,498 2,498 2,498 Included in prepaid expenses and other current assets & other non-current assets Liabilities 2,498 2,498 2,498 Included in accrued liabilities & other non-current liabilities Contingent consideration related to acquisition: Liabilities 95 95 95 Included in accrued liabilities (1) Other long-term investments as of September 25, 2015 include a marketable equity security of $0.7 million , and other investments that are not carried at fair value including an equity method investment of $0.5 million and two cost method investments of $2.0 million and $0.5 million . Fair Value Hierarchy. Fair value is the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability, in an orderly transaction between market participants at the measurement date. We minimize the use of unobservable inputs and use observable market data, if available, when determining fair value. We classify our inputs to measure fair value using the following three-level hierarchy: Level 1: Quoted prices in active markets at the measurement date for identical assets and liabilities. We base the fair value of our Level 1 financial instruments, which are traded in active markets, using quoted market prices for identical instruments. Level 2: Prices may be based upon quoted prices in active markets or inputs not quoted on active markets but are corroborated by market data. We obtain the fair value of our Level 2 financial instruments from a professional pricing service, which may use quoted market prices for identical or comparable instruments, or model driven valuations using observable market data or inputs corroborated by observable market data. To validate the fair value determination provided by our primary pricing service, we perform quality controls over values received which include comparing our pricing service provider’s assessment of the fair values of our investment securities against the fair values of our investment securities obtained from another independent source, reviewing the pricing movement in the context of overall market trends, and reviewing trading information from our investment managers. In addition, we assess the inputs and methods used in determining the fair value in order to determine the classification of securities in the fair value hierarchy. Level 3: Unobservable inputs are used when little or no market data is available and reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. Securities In Gross Unrealized Loss Position. We periodically evaluate our investments for other-than- temporary declines in fair value. The unrealized losses on our available-for-sale securities were primarily the result of unfavorable changes in interest rates subsequent to the initial purchase of these securities. The following table presents the gross unrealized losses and fair value for those available-for-sale securities that were in an unrealized loss position as of July 1, 2016 and September 25, 2015 (in thousands): July 1, 2016 September 25, 2015 Less Than 12 Months 12 Months Or Greater Less Than 12 Months (1) Investment Type Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Certificate of deposit $ 8,500 $ (1 ) $ — $ — $ — $ — U.S. agency securities — — — — 19,005 (17 ) Corporate bonds 41,844 (38 ) 7,999 (15 ) 148,034 (403 ) Municipal debt securities 8,261 (9 ) 998 (2 ) 35,476 (60 ) Total $ 58,605 $ (48 ) $ 8,997 $ (17 ) $ 202,515 $ (480 ) (1) As of September 25, 2015 , no available-for-sale securities were in an unrealized loss position for 12 months or greater. Although we had certain securities that were in an unrealized loss position as of July 1, 2016 , we expect to recover the full carrying value of these securities as we do not intend to, nor do we currently anticipate a need to sell these securities prior to recovering the associated unrealized losses. As a result, we do not consider any portion of the unrealized losses at either July 1, 2016 or September 25, 2015 to represent an other-than-temporary impairment, nor do we consider any of the unrealized losses to be credit losses. Investment Maturities. The following table summarizes the amortized cost and estimated fair value of the available-for-sale securities within our investment portfolio based on stated maturities as of July 1, 2016 and September 25, 2015 , which are recorded within cash equivalents and both short and long-term investments in our consolidated balance sheets (in thousands): July 1, 2016 September 25, 2015 Range of maturity Amortized Cost Fair Value Amortized Cost Fair Value Due within 1 year $ 183,339 $ 183,375 $ 158,957 $ 159,090 Due in 1 to 2 years 185,070 185,835 173,571 173,577 Due in 2 to 3 years 76,689 77,508 143,879 143,752 Total $ 445,098 $ 446,718 $ 476,407 $ 476,419 |
Property, Plant and Equipment
Property, Plant and Equipment | 9 Months Ended |
Jul. 01, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | 5 . Property, Plant & Equipment Property, plant and equipment are recorded at cost, with depreciation expense included in cost of products, cost of services, R&D, S&M and G&A expenses in our consolidated statements of operations. PP&E consist of the following (in thousands): Property, Plant And Equipment July 1, September 25, Land $ 43,373 $ 43,537 Buildings and building improvements 269,838 248,390 Leasehold improvements 63,173 61,455 Machinery and equipment 88,059 70,143 Computer equipment and software 150,720 136,666 Furniture and fixtures 28,211 25,489 Equipment provided under operating leases 24,945 7,638 Construction-in-progress 5,149 11,448 Property, plant and equipment, gross 673,468 604,766 Less: accumulated depreciation (245,243 ) (201,675 ) Property, plant and equipment, net $ 428,225 $ 403,091 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 9 Months Ended |
Jul. 01, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | Goodwill & Intangible Assets Goodwill The following table outlines changes to the carrying amount of goodwill (in thousands): Goodwill Balance at September 25, 2015 $ 307,708 Translation adjustments 1,312 Balance at July 1, 2016 $ 309,020 Intangible Assets Our intangible assets are stated at their original cost less accumulated amortization, and principally consist of acquired technology, patents, trademarks, customer relationships and contracts. Intangible assets subject to amortization consist of the following (in thousands): July 1, 2016 September 25, 2015 Intangible Assets, Net Cost Accumulated Amortization Net Cost Accumulated Amortization Net Acquired patents and technology $ 292,971 $ (94,777 ) $ 198,194 $ 172,787 $ (74,398 ) $ 98,389 Customer relationships 56,818 (32,681 ) 24,137 56,933 (28,275 ) 28,658 Other intangibles 22,712 (22,175 ) 537 22,564 (22,104 ) 460 Total $ 372,501 $ (149,633 ) $ 222,868 $ 252,284 $ (124,777 ) $ 127,507 During both the fiscal year-to-date period ended July 1, 2016 and June 26, 2015 , we purchased various patents and developed technologies that enable us to further develop our audio, imaging and potential product offerings. Patent Portfolio Acquisition. On September 30, 2015 , we completed an asset purchase of a patent portfolio that fits within our existing patent licensing programs for consideration of $105.0 million . These assets are categorized within the "Acquired patents and technology" intangible asset class, and will be amortized over their weighted-average useful life of 9.0 years . Other. During the first quarter of fiscal 2016, we also acquired other intangible assets for consideration of $0.3 million , which will be amortized over their weighted-average useful life of 18.0 years . During the third quarter of fiscal 2016, we also acquired other intangible assets for consideration of $15.0 million , which will be amortized over their weighted-average useful life of 18.0 years . With regard to our purchase of intangible assets during the periods presented, the following table summarizes the consideration paid, the weighted-average useful lives over which the acquired assets will be amortized using the greater of either the straight-line basis or a ratio-to-revenue method, and the classification of their amortized expense in our consolidated statements of operations: Fiscal Period Total Purchase Consideration (1) Weighted-Average Useful Life (in millions) (in years) Fiscal 2015 Q1 - Quarter ended December 26, 2014 $6.4 18.0 Q2 - Quarter ended March 27, 2015 — 0 Q3 - Quarter ended June 26, 2015 16.3 7.0 $22.7 10.1 Fiscal 2016 Q1 - Quarter ended January 1, 2016 $105.3 9.0 Q2 - Quarter ended April 1, 2016 — 0 Q3 - Quarter ended July 1, 2016 $15.0 18.0 $120.3 10.1 (1) Amortization expense on the intangible assets from patent portfolio acquisitions is included within cost of revenue in our consolidated statements of operations. Amortization expense for our intangible assets is included in cost of licensing, cost of products, R&D and S&M expenses in our consolidated statements of operations. Amortization expense was $8.2 million and $5.0 million in the third quarter of fiscal 2016 and 2015 , respectively, and $24.9 million and $16.0 million in the fiscal year-to-date period ended July 1, 2016 and June 26, 2015 , respectively. As of July 1, 2016 , estimated amortization expense in future fiscal periods was as follows (in thousands): Fiscal Year Amortization Expense Remainder of 2016 $ 8,256 2017 30,471 2018 25,062 2019 24,479 2020 24,253 Thereafter 110,347 Total $ 222,868 |
Stockholders' Equity And Stock-
Stockholders' Equity And Stock-Based Compensation | 9 Months Ended |
Jul. 01, 2016 | |
Stockholders' Equity And Stock-Based Compensation [Abstract] | |
Stockholders' Equity And Stock-Based Compensation | Stockholders' Equity & Stock-Based Compensation We provide stock-based awards as a form of compensation for employees, officers and directors. We have issued stock-based awards in the form of stock options and RSUs under our equity incentive plans, as well as shares under our ESPP. Common Stock - Class A and Class B Our Board of Directors has authorized two classes of common stock, Class A and Class B. At July 1, 2016 , we had authorized 500,000,000 Class A shares and 500,000,000 Class B shares. At July 1, 2016 , we had 54,978,917 shares of Class A common stock and 45,888,962 shares of Class B common stock issued and outstanding. Holders of our Class A and Class B common stock have identical rights, except that holders of our Class A common stock are entitled to one vote per share and holders of our Class B common stock are entitled to ten votes per share. Shares of Class B common stock can be converted to shares of Class A common stock at any time at the option of the stockholder and automatically convert upon sale or transfer, except for certain transfers specified in our amended and restated certificate of incorporation. Stock Incentive Plans 2005 Stock Plan. In January 2005, our stockholders approved our 2005 Stock Plan, which our Board of Directors adopted in November 2004. The 2005 Stock Plan became effective on February 16, 2005, the day prior to the completion of our initial public offering. Our 2005 Stock Plan, as amended and restated, provides for the ability to grant ISOs, NQs, restricted stock, RSUs, SARs, deferred stock units, performance units, performance bonus awards and performance shares. A total of 29.0 million shares of our Class A common stock is authorized for issuance under the 2005 Stock Plan. For awards granted prior to February 2011, any shares subject to an award with a per share price less than the fair market value of our Class A common stock on the date of grant and any shares subject to an outstanding RSU award will be counted against the authorized share reserve as two shares for every one share subject to the award, and if returned to the 2005 Stock Plan, such shares will be counted as two shares for every one share returned. For those awards granted from February 2011 onward, any shares subject to an award with a per share price less than the fair market value of our Class A common stock on the date of grant and any shares subject to an outstanding RSU award will be counted against the authorized share reserve as 1.6 shares for every one share subject to the award, and if returned to the 2005 Stock Plan, such shares will be counted as 1.6 for every one share returned. Stock Options. Stock options are generally granted at fair market value on the date of grant. Options granted to employees and officers prior to June 2008 generally vest over four years , with equal annual cliff-vesting and expire on the earlier of 10 years after the date of grant or 3 months after termination of service. Options granted to employees and officers from June 2008 onward generally vest over four years, with 25% of the shares subject to the option becoming exercisable on the one-year anniversary of the date of grant and the balance of the shares vesting in equal monthly installments over the following 36 months . These options expire on the earlier of 10 years after the date of grant or 3 months after termination of service. All options granted vest over the requisite service period and upon the exercise of stock options, we issue new shares of Class A common stock under the 2005 Stock Plan. Our 2005 Stock Plan also allows us to grant stock awards which vest based on the satisfaction of specific performance criteria. Performance-Based Stock Options. On December 15, 2015, we granted 419,623 PSOs to our executive officers with shares of our Class A common stock underlying such options. The contractual term for the PSOs is seven years, with vesting contingent upon market-based performance conditions, representing the achievement of specified Dolby annualized TSR targets at the end of a three-year measurement period ending December 15, 2018. If the minimum conditions are met, the PSOs earned will cliff vest on the third anniversary of the grant date, upon certification of achievement of the performance conditions by our Compensation Committee. Anywhere from 0% to 125% of the shares subject to a PSO may vest based on achievement of the performance conditions at the end of the three-year performance period. In valuing the PSOs which will be recognized as compensation cost, we used a Monte Carlo valuation model. Aside from the use of an expected term for the PSOs commensurate with their shorter contractual term, the nature of the valuation inputs used in the Monte Carlo valuation model were consistent with those used to value our non-performance based options granted under the 2005 Plan. Compensation cost is being amortized on a straight-line basis over the requisite service period. The following table summarizes information about all stock options issued under our 2005 Stock Plan: Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life Aggregate Intrinsic Value (1) (in thousands) (in years) (in thousands) Options outstanding at September 25, 2015 8,835 $ 35.85 Grants 2,203 33.30 Exercises (1,102 ) 31.18 Forfeitures and cancellations (483 ) 36.25 Options outstanding at July 1, 2016 9,453 35.72 7.2 $ 114,121 Options vested and expected to vest at July 1, 2016 8,922 35.69 7.1 106,896 Options exercisable at July 1, 2016 4,986 $ 34.54 6.0 64,591 (1) Aggregate intrinsic value is based on the closing price of our Class A common stock on July 1, 2016 of $47.64 and excludes the impact of options that were not in-the-money. Restricted Stock Units. Beginning in fiscal 2008, we began granting RSUs to certain directors, officers and employees under our 2005 Stock Plan. Awards granted to employees and officers generally vest over four years, with equal annual cliff-vesting. Awards granted to directors prior to November 2010 generally vest over three years, with equal annual cliff-vesting. Awards granted after November 2010 and prior to fiscal 2014 to new directors vest over approximately two years, with 50% vesting per year, while awards granted from November 2010 onward to ongoing directors generally vest over approximately one year. Awards granted to new directors from fiscal 2014 onward vest on the earlier of the first anniversary of the award’s date of grant, or the day immediately preceding the date of the next annual meeting of stockholders that occurs after the award’s date of grant. Our 2005 Stock Plan also allows us to grant RSUs that vest based on the satisfaction of specific performance criteria, although no such awards had been granted as of July 1, 2016 . At each vesting date, the holder of the award is issued shares of our Class A common stock. Compensation expense from these awards is equal to the fair market value of our Class A common stock on the date of grant and is recognized on a straight-line basis over the requisite service period. The following table summarizes information about RSUs issued under our 2005 Stock Plan: Shares Weighted-Average Grant Date Fair Value (in thousands) Non-vested at September 25, 2015 2,830 $ 40.73 Granted 1,334 34.23 Vested (1,043 ) 36.74 Forfeitures (165 ) 38.21 Non-vested at July 1, 2016 2,956 $ 39.35 Employee Stock Purchase Plan . Our plan allows eligible employees to have up to 10 percent of their eligible compensation withheld and used to purchase Class A common stock, subject to a maximum of $25,000 worth of stock purchased in a calendar year or no more than 1,000 shares in an offering period, whichever is less. An offering period consists of successive six -month purchase periods, with a look back feature to our stock price at the commencement of a one -year offering period. The plan provides for a discount equal to 15 percent of the lower of the closing price of our Class A common stock on the New York Stock Exchange on the first and last day of the offering periods. The plan also includes an automatic reset feature that provides for an offering period to be reset and recommenced to a new lower-priced offering if the offering price of a new offering period is less than that of the immediately preceding offering period. Stock Option Valuation Assumptions We use the Black-Scholes option pricing model to determine the estimated fair value of employee stock options at the date of the grant. The Black-Scholes model includes inputs that require us to make certain estimates and assumptions regarding the expected term of the award, as well as the future risk-free interest rate, and the volatility of our stock price over the expected term of the award. Expected Term. The expected term of an award represents the estimated period of time that options granted will remain outstanding, and is measured from the grant date to the date at which the option is either exercised or canceled. Our determination of the expected term involves an evaluation of historical terms and other factors such as the exercise and termination patterns of our employees who hold options to acquire our Class A common stock, and is based on certain assumptions made regarding the future exercise and termination behavior. Risk-Free Interest Rate. The risk-free interest rate is based on the yield curve of United States Treasury instruments in effect on the date of grant. In determining an estimate for the risk-free interest rate, we use average interest rates based on these instruments’ constant maturities with a term that approximates and corresponds with the expected term of our awards. Expected Stock Price Volatility. The expected volatility represents the estimated volatility in the price of our Class A common stock over a time period that approximates the expected term of the awards, and is determined using a blended combination of historical and implied volatility. Historical volatility is representative of the historical trends in our stock price for periods preceding the measurement date for a period that is commensurate with the expected term. Implied volatility is based upon externally traded option contracts of our Class A common stock. Dividend Yield. The dividend yield is based on our anticipated dividend payout over the expected term of our option awards. Dividend declarations and the establishment of future record and payment dates are subject to the Board of Directors’ continuing determination that the dividend policy is in the best interests of our stockholders. The dividend policy may be changed or canceled at the discretion of the Board of Directors at any time. The weighted-average assumptions used in the determination of the fair value of our stock options were as follows: Fiscal Quarter Ended Fiscal Year-To-Date Ended July 1, June 26, July 1, June 26, Expected term (in years) 5.24 5.21 5.24 4.79 Risk-free interest rate 1.2 % 1.5 % 1.7 % 1.5 % Expected stock price volatility 30.1 % 29.0 % 29.8 % 29.7 % Dividend yield 1.1 % 1.0 % 1.4 % 0.9 % Stock-Based Compensation Expense Stock-based compensation expense for equity awards granted to employees is determined by estimating their fair value on the date of grant, and recognizing that value as an expense on a straight-line basis over the requisite service period in which our employees earn the awards. Compensation expense related to these equity awards is recognized net of estimated forfeitures, which reduce the expense recorded in the consolidated statements of operations. The selection of applicable estimated forfeiture rates is based on an evaluation of trends in our historical forfeiture data with consideration for other potential driving factors. If in subsequent periods actual forfeitures significantly differ from our initial estimates, we will revise such estimates accordingly. The following two tables separately present stock-based compensation expense both by award type and classification in our consolidated statements of operations (in thousands): Expense - By Award Type Fiscal Quarter Ended Fiscal Year-To-Date Ended July 1, June 26, July 1, June 26, Compensation Expense - By Type Stock options $ 4,980 $ 5,501 $ 16,344 $ 17,513 Restricted stock units 10,080 10,005 32,423 30,297 Employee stock purchase plan 947 807 2,706 3,012 Total stock-based compensation 16,007 16,313 51,473 50,822 Benefit from income taxes (4,655 ) (4,774 ) (15,067 ) (14,815 ) Total stock-based compensation, net of tax $ 11,352 $ 11,539 $ 36,406 $ 36,007 Expense - By Income Statement Line Item Classification Fiscal Quarter Ended Fiscal Year-To-Date Ended July 1, June 26, July 1, June 26, Compensation Expense - By Classification Cost of products $ 220 $ 241 $ 719 $ 711 Cost of services 113 111 356 348 Research and development 4,243 4,261 13,618 14,473 Sales and marketing 6,451 6,405 20,602 17,890 General and administrative 4,980 5,295 16,178 17,400 Total stock-based compensation 16,007 16,313 51,473 50,822 Benefit from income taxes (4,655 ) (4,774 ) (15,067 ) (14,815 ) Total stock-based compensation, net of tax $ 11,352 $ 11,539 $ 36,406 $ 36,007 The tax benefit that we recognize from certain exercises of ISOs and shares issued under our ESPP are excluded from the tables above. This benefit was as follows (in thousands): Fiscal Quarter Ended Fiscal Year-To-Date Ended July 1, June 26, July 1, June 26, Tax benefit - stock option exercises & shares issued under ESPP $ 358 $ 121 $ 481 $ 308 Unrecognized Compensation Expense. At July 1, 2016 , total unrecorded compensation expense associated with employee stock options expected to vest was approximately $37.2 million , which is expected to be recognized over a weighted-average period of 2.4 years. At July 1, 2016 , total unrecorded compensation expense associated with RSUs expected to vest was approximately $77.7 million , which is expected to be recognized over a weighted-average period of 2.6 years. Common Stock Repurchase Program In November 2009, we announced a stock repurchase program ("program"), providing for the repurchase of up to $250.0 million of our Class A common stock. The following table summarizes the initial amount of authorized repurchases as well as additional repurchases approved by our Board of Directors as of July 1, 2016 (in thousands): Authorization Period Authorization Amount Fiscal 2010: November 2009 $ 250,000 Fiscal 2010: July 2010 300,000 Fiscal 2011: July 2011 250,000 Fiscal 2012: February 2012 100,000 Fiscal 2015: October 2014 200,000 Total $ 1,100,000 Stock repurchases under the program may be made through open market transactions, negotiated purchases, or otherwise, at times and in amounts that we consider appropriate. The timing of repurchases and the number of shares repurchased depend upon a variety of factors, including price, regulatory requirements, the rate of dilution from our equity compensation plans and other market conditions. The program does not have a specified expiration date, and can be limited, suspended or terminated at our discretion at any time without prior notice. Shares repurchased under the program will be returned to the status of authorized but unissued shares of Class A common stock. As of July 1, 2016 , the remaining authorization to purchase additional shares is approximately $67.9 million . The following table provides information regarding share repurchase activity under the program during fiscal 2016 : Quarterly Repurchase Activity Shares Repurchased Cost (1) Average Price Paid Per Share (2) (in thousands) Q1 - Quarter ended January 1, 2016 1,140,700 $ 39,449 $ 34.57 Q2 - Quarter ended April 1, 2016 975,745 37,407 38.32 Q3 - Quarter ended July 1, 2016 176,854 7,998 45.22 Total 2,293,299 $ 84,854 (1) Cost of share repurchases includes the price paid per share and applicable commissions. (2) Average price paid per share excludes commission costs. Dividend In October 2014, our Board of Directors initiated a recurring quarterly dividend program for our stockholders. The following table summarizes the dividend payments made under the program during fiscal 2016 : Fiscal Period Declaration Date Record Date Payment Date Cash Dividend Per Common Share Dividend Payment Fiscal 2016 Q1 - Quarter ended January 1, 2016 January 25, 2016 February 8, 2016 February 17, 2016 $ 0.12 $12.1 million Q2 - Quarter ended April 1, 2016 April 25, 2016 May 9, 2016 May 18, 2016 $ 0.12 $12.0 million Q3 - Quarter ended July 1, 2016 July 25, 2016 August 8, 2016 August 17, 2016 $ 0.12 $12.1 million (1) (1) The amount of the dividend payment is estimated based on the number of shares of our Class A and Class B common stock that we estimate will be outstanding as of the Record Date. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 9 Months Ended |
Jul. 01, 2016 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income | Accumulated Other Comprehensive Income Other comprehensive income consists of two components: unrealized gains or losses on our available-for-sale marketable investment securities and the gain or loss from foreign currency translation adjustments. Until realized and reported as a component of net income, these comprehensive income items accumulate and are included within accumulated other comprehensive income, a subsection within stockholders’ equity in our consolidated balance sheet. Unrealized gains and losses on our investment securities are reclassified from AOCI into earnings when realized upon sale, and are determined based on specific identification of securities sold. Gains and losses from the translation of assets and liabilities denominated in non-U.S. dollar functional currencies are included in AOCI. The following table summarizes the changes in the accumulated balances during the period, and includes information regarding the manner in which the reclassifications out of AOCI into earnings affect our consolidated statements of operations (in thousands): Fiscal Quarter Ended July 1, 2016 Fiscal Year-To-Date Ended July 1, 2016 Investment Securities Currency Translation Adjustments Total Investment Securities Currency Translation Adjustments Total Balance, beginning of period $ 1,053 $ (9,395 ) $ (8,342 ) $ 350 $ (11,812 ) $ (11,462 ) Other comprehensive income/(loss) before reclassifications: Unrealized gains - investment securities 695 695 937 937 Foreign currency translation (losses) (1) (2,852 ) (2,852 ) (623 ) (623 ) Income tax effect - benefit/(expense) (6 ) 288 282 99 476 575 Net of tax 689 (2,564 ) (1,875 ) 1,036 (147 ) 889 Amounts reclassified from AOCI into earnings: Realized gains - investment securities (1) 15 15 493 493 Income tax effect - (expense) (2) (3 ) (3 ) (125 ) (125 ) Net of tax 12 — 12 368 — 368 Net current-period other comprehensive income 701 (2,564 ) (1,863 ) 1,404 (147 ) 1,257 Balance, end of period $ 1,754 $ (11,959 ) $ (10,205 ) $ 1,754 $ (11,959 ) $ (10,205 ) Fiscal Quarter Ended June 26, 2015 Fiscal Year-To-Date Ended June 26, 2015 Investment Securities Currency Translation Adjustments Total Investment Securities Currency Translation Adjustments Total Balance, beginning of period $ 1,170 $ (8,702 ) $ (7,532 ) $ 505 $ 2,509 $ 3,014 Other comprehensive income/(loss) before reclassifications: Unrealized gains/(losses) - investment securities (787 ) (787 ) 382 382 Foreign currency translation gains/(losses) (1) 1,058 1,058 (10,982 ) (10,982 ) Income tax effect - benefit/(expense) 162 (188 ) (26 ) (165 ) 641 476 Net of tax (625 ) 870 245 217 (10,341 ) (10,124 ) Amounts reclassified from AOCI into earnings: Realized (losses) - investment securities (1) (138 ) (138 ) (342 ) (342 ) Income tax effect - benefit (2) 34 34 61 61 Net of tax (104 ) — (104 ) (281 ) — (281 ) Net current-period other comprehensive income/(loss) (729 ) 870 141 (64 ) (10,341 ) (10,405 ) Balance, end of period $ 441 $ (7,832 ) $ (7,391 ) $ 441 $ (7,832 ) $ (7,391 ) (1) Realized gains or losses from the sale of our available-for-sale investment securities or from foreign currency translation adjustments are included within other income/expense, net in our consolidated statements of operations. (2) The income tax benefit or expense is included within provision for income taxes in our consolidated statements of operations. |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Jul. 01, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Basic EPS is computed by dividing net income attributable to Dolby Laboratories, Inc. by the number of weighted-average shares of Class A and Class B common stock outstanding during the period. Through application of the treasury stock method, diluted EPS is computed in the same manner, except that the number of weighted-average shares outstanding is increased by the number of potentially dilutive shares from employee incentive plans during the period. Basic and diluted EPS are computed independently for each fiscal quarter and year-to-date period presented, which involves the use of different weighted-average share count figures relating to quarterly and annual periods. As a result, and after factoring the effect of rounding to the nearest cent per share, the sum of all four quarter-to-date EPS figures may not equal year-to-date EPS. Potentially dilutive shares represent the hypothetical number of incremental shares issuable under the assumed exercise of outstanding stock options (both vested and non-vested), vesting of outstanding RSUs, and shares issued under our employee stock purchase plan. The calculation of dilutive shares outstanding excludes out-of-the-money stock options (e.g., such options' exercise prices were greater than the average market price of our common shares for the period) because their inclusion would have been antidilutive. The following table sets forth the computation of basic and diluted EPS attributable to Dolby Laboratories, Inc. (in thousands, except per share amounts): Fiscal Quarter Ended Fiscal Year-To-Date Ended July 1, June 26, July 1, June 26, Numerator: Net income attributable to Dolby Laboratories, Inc. $ 63,628 $ 35,506 $ 161,927 $ 134,837 Denominator: Weighted-average shares outstanding—basic 100,533 102,670 100,578 102,494 Potential common shares from options to purchase common stock 1,372 827 839 903 Potential common shares from restricted stock units 772 608 562 730 Weighted-average shares outstanding—diluted 102,677 104,105 101,979 104,127 Net income per share attributable to Dolby Laboratories, Inc.: Basic $ 0.63 $ 0.35 $ 1.61 $ 1.32 Diluted $ 0.62 $ 0.34 $ 1.59 $ 1.29 Antidilutive awards excluded from calculation: Stock options 2,241 4,617 5,910 3,962 Restricted stock units 6 10 13 6 |
Income Taxes
Income Taxes | 9 Months Ended |
Jul. 01, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes Our income tax expense, deferred tax assets and liabilities, and reserves for unrecognized tax benefits reflect management's best assessment of estimated current and future taxes to be paid. We are subject to income taxes in both the United States and numerous foreign jurisdictions. Significant judgments and estimates are required in determining the consolidated income tax expense. Unrecognized Tax Benefit As of July 1, 2016 , the total amount of gross unrecognized tax benefits was $67.7 million , of which $55.6 million , if recognized, would reduce our effective tax rate. As of September 25, 2015 , the total amount of gross unrecognized tax benefits was $65.2 million , of which $53.0 million , if recognized, would reduce our effective tax rate. Our net liability for unrecognized tax benefits is classified within other non-current liabilities in our consolidated balance sheets. Withholding Taxes We recognize licensing revenue gross of withholding taxes, which our licensees remit directly to their local tax authorities, and for which we receive a partial foreign tax credit in our income tax provision. The foreign current tax includes this withholding tax expense while the appropriate foreign tax credit benefit is included in current federal and foreign taxes. Withholding taxes were as follows (in thousands): Fiscal Quarter Ended Fiscal Year-To-Date Ended July 1, June 26, July 1, June 26, Withholding taxes $ 11,540 $ 10,021 $ 33,728 $ 34,163 Effective Tax Rate Each period, the combination of different factors can impact our effective tax rate. These factors include both recurring items such as tax rates and the relative amount of income earned in foreign jurisdictions, as well as discrete items such as changes to our uncertain tax positions, that may occur in, but are not necessarily consistent between periods. Our effective tax rate decreased from 24% in the third quarter of fiscal 2015 to 22% in the third quarter of fiscal 2016 due to increased benefits from federal R&D tax credits. On a year-to-date basis, our effective tax rate decreased from 25% in the fiscal year-to-date period ended June 26, 2015 to 21% in the fiscal year-to-date period ended July 1, 2016 . The overall decrease reflects the net benefit from our settlement of I.R.S. and California audits and increased benefits from federal R&D tax credits. |
Restructuring
Restructuring | 9 Months Ended |
Jul. 01, 2016 | |
Restructuring Charges [Abstract] | |
Restructuring | 11 . Restructuring Restructuring charges recorded in our statement of operations represent costs associated with separate individual restructuring plans implemented in various fiscal periods. Costs arising from these actions, including fluctuations in related balances between fiscal periods, are based on the nature of activities under the various plans. Fiscal 2016 Restructuring Plan. In January 2016, we implemented a plan to reorganize and consolidate certain activities and positions within our global business infrastructure. As a result, we recorded $1.3 million in restructuring costs during the fiscal quarter ended April 1, 2016, representing severance and other related benefits offered to approximately 30 employees that were affected by this action. As of July 1, 2016, no outstanding accrual balance remained for obligations under this plan. Accruals for restructuring charges are included within accrued liabilities in our consolidated balance sheets while restructuring charges/(credits) are included within restructuring charges/(credits) in our consolidated statements of operations. |
Commitments And Contingencies
Commitments And Contingencies | 9 Months Ended |
Jul. 01, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | Commitments & Contingencies In the ordinary course of business, we enter into contractual agreements with third parties that include non-cancelable payment obligations, for which we are liable in future periods. These arrangements can include terms binding us to minimum payments and/or penalties if we terminate the agreement for any reason other than an event of default as described by the agreement. The following table presents a summary of our contractual obligations and commitments as of July 1, 2016 (in thousands): Payments Due By Fiscal Period Remainder Of Fiscal Fiscal Fiscal Fiscal Thereafter Total Naming rights $ — $ 7,619 $ 7,715 $ 7,811 $ 7,909 $ 102,980 $ 134,034 Donation commitments 55 255 6,300 322 322 1,080 8,334 Operating leases 3,261 13,273 10,731 8,293 7,621 30,727 73,906 Purchase obligations 2,795 7,998 1,634 218 — — 12,645 Total $ 6,111 $ 29,145 $ 26,380 $ 16,644 $ 15,852 $ 134,787 $ 228,919 Naming Rights. We are party to an agreement for naming rights and related benefits with respect to the Dolby Theatre in Hollywood, California, the location of the Academy Awards®. The term of the agreement is 20 years, over which we will make payments on a semi-annual basis until fiscal 2032. Our payment obligations are conditioned in part on the Academy Awards® being held and broadcast from the Dolby Theatre. Donation Commitments. During fiscal 2014 , we entered into an agreement to contribute and install imaging and audio products to the Museum of the Academy of Motion Picture Arts and Sciences in Los Angeles, California, and provide maintenance services for a fifteen-year period following the Museum's expected opening date in 2018, in exchange for various marketing, branding and publicity benefits. During fiscal 2016, we entered into an agreement with the Academy of Motion Television Arts and Sciences Foundation in Los Angeles, California, under which we are contributing cash, imaging and audio products which we will install, and maintenance services for a ten-year period, in exchange for various promotional benefits. Operating Leases. Operating lease payments represent our commitments for future minimum rent made under non-cancelable leases for office space, including those payable to our principal stockholder and portions attributable to the controlling interests in our wholly owned subsidiaries. Purchase Obligations. Purchase obligations primarily consist of our commitments made under agreements to purchase goods and services for purposes that include IT and telecommunications, marketing and professional services, and manufacturing and other research and development activities. Indemnification Clauses. On a limited basis, our contractual agreements contain a clause under which we agree to provide indemnification to the counterparty, most commonly to licensees in connection with licensing arrangements that include our intellectual property. Additionally, and although not a contractual requirement, we have at times elected to defend our licensees from third party intellectual property infringement claims. Since the terms and conditions of our contractual indemnification clauses do not explicitly specify our obligations, we are unable to reasonably estimate the maximum potential exposure for which we could be liable. Furthermore, we have not historically made any payments in connection with any such obligation and believe there to be a remote likelihood that any potential exposure in future periods would be of a material amount. As a result, no amounts have been accrued in our consolidated financial statements with respect to the contingent aspect of these indemnities. |
Business Combinations
Business Combinations | 9 Months Ended |
Jul. 01, 2016 | |
Business Combinations [Abstract] | |
Acquisitions | Business Combinations Doremi Technologies, LLC. On October 31, 2014 ("acquisition date"), we completed our acquisition of all outstanding interests of Doremi Technologies, LLC. ("Doremi"), a privately held company, and certain assets related to the business of Doremi from Doremi Labs, Inc. and Highlands Technologies SAS (the "Doremi-related assets") for cash consideration of $98.4 million and up to an additional $20.0 million in contingent considerat ion that may be earned over a four -year period following the closing of the acquisition. Upon acquisition, the fair value of the contingent consideration liability was estimated to be $0.7 million and was determined by applying a discounted and probability-weighted approach to potential shipments of specified products over the four-year period. Based on a revision to initial estimates, the fair value of this liability was remeasured to $0.1 million as of September 25, 2015. No further changes to our estimates have since been made, and accordingly the liability of $0.1 million remains included within our consolidated balance sheet as of July 1, 2016 . The following table summarizes the purchase price allocation made to the net tangible and intangible assets acquired (including cash of $8.4 million ) and liabilities assumed based on their acquisition date fair values, with the excess amount recorded as goodwill, which is representative of the expected benefits and synergies from the integration of Doremi technology with ours as well as their assembled workforce. Purchase Price Allocation Current assets $ 17,231 Inventories 16,372 Intangible assets 45,600 Goodwill 39,672 Current liabilities (11,653 ) Non-current liabilities (8,820 ) Cash consideration paid to sellers 98,402 Add: contingent consideration 740 Total purchase consideration $ 99,142 The following table summarizes the fair values allocated to the various intangible assets acquired (in thousands), the weighted-average useful lives over which they will be amortized using the straight-line method, and the classification of their amortized expense in our consolidated statements of operations. The value of these acquired intangibles was determined based on the present value of estimated future cash flows under various valuation techniques and inputs. Intangible Assets Acquired Purchase Price Allocation Weighted-Average Useful Life (Years) Income Statement Classification: Amortization Expense Customer relationships $25,600 10 Sales & Marketing Developed technology 17,500 7.5 Cost of Sales Trade name 1,300 1 Sales & Marketing Backlog 1,200 1 Cost of Sales Total $45,600 Total acquisition-related costs incurred in connection with the transaction were $6.3 million , of which $0.4 million were recorded during the fiscal quarter ended December 26, 2014 and none thereafter. These costs were included in G&A expenses in our consolidated statements of operations. Pro forma financial information for Doremi's post-acquisition results is not deemed significant and is thus not provided. |
Legal Proceedings
Legal Proceedings | 9 Months Ended |
Jul. 01, 2016 | |
Loss Contingency, Information about Litigation Matters [Abstract] | |
Legal Proceedings | Legal Matters We are involved in various legal proceedings that occasionally arise in the normal course of business. These can include claims of alleged infringement of intellectual property rights, commercial, employment and other matters. In our opinion, resolution of these proceedings is not expected to have a material adverse impact on our operating results or financial condition. Given the unpredictable nature of legal proceedings, it is possible that an unfavorable resolution of one or more such proceedings could materially affect our future operating results or financial condition in a particular period, including as a result of required changes to our licensing terms, monetary penalties and other potential consequences. However, based on the information known by us as of the date of this filing and the rules and regulations applicable to the preparation of our consolidated financial statements, any such amounts are either immaterial, or it is not possible to provide an estimated amount of any such potential losses. |
Summary Of Significant Accoun23
Summary Of Significant Accounting Policies (Policy) | 9 Months Ended |
Jul. 01, 2016 | |
Accounting Policies [Abstract] | |
Principles Of Consolidation | Principles of Consolidation The unaudited interim condensed consolidated financial statements include the accounts of Dolby Laboratories, Inc. and our wholly owned subsidiaries. In addition, we have consolidated the financial results of jointly owned affiliated companies in which our principal stockholder has a controlling interest. We report these controlling interests as a separate line in our consolidated statements of operations as net income attributable to controlling interest and in our consolidated balance sheets as a controlling interest. We eliminate all intercompany accounts and transactions upon consolidation. |
Operating Segments | Operating Segments We operate as a single reporting segment, and thus all required financial segment information is included in our unaudited interim condensed consolidated financial statements. This determination reflects the fact that our CODM, our Chief Executive Officer, evaluates our financial information and resources, and assesses the performance of these resources on a consolidated basis. |
Use of Estimates | Use of Estimates The preparation of our financial statements in accordance with GAAP requires management to make certain estimates and assumptions that affect the amounts reported and disclosed in our unaudited interim condensed consolidated financial statements and accompanying notes. Significant items subject to such estimates and assumptions include estimated selling prices for elements sold in ME revenue arrangements; valuation allowances for accounts receivable; carrying values of inventories and certain property, plant, and equipment, goodwill and intangible assets; fair values of investments; accrued liabilities including liabilities for unrecognized tax benefits, deferred income tax assets and liabilities and stock-based compensation. Actual results could differ from our estimates. |
Fiscal Year | Fiscal Year Our fiscal year is a 52 or 53 week period ending on the last Friday in September. The fiscal periods presented herein include the 13 and 40 week periods ended July 1, 2016 and the 13 and 39 week periods ended June 26, 2015 . Our fiscal year ended September 25, 2015 (fiscal 2015 ) consisted of 52 weeks while our fiscal year ending September 30, 2016 (fiscal 2016 ) will consist of 53 weeks. |
Reclassifications | Reclassifications We have reclassified certain prior period amounts within our consolidated financial statements and accompanying notes to conform to our current period presentation. These reclassifications did not affect total revenue, operating income, operating cash flows or net income. |
Composition Of Certain Financ24
Composition Of Certain Financial Statement Captions (Tables) | 9 Months Ended |
Jul. 01, 2016 | |
Composition Of Certain Financial Statement Captions [Abstract] | |
Schedule Of Accounts Receivable | Accounts Receivable Accounts Receivable, Net July 1, September 25, Trade accounts receivable $ 83,505 $ 94,559 Accounts receivable from patent administration program customers 10,666 8,546 Accounts receivable, gross 94,171 103,105 Less: allowance for doubtful accounts (2,534 ) (1,542 ) Total $ 91,637 $ 101,563 |
Schedule Of Inventories | Inventories Inventories July 1, September 25, Raw materials $ 4,849 $ 3,246 Work in process 5,696 3,279 Finished goods 7,999 7,347 Total $ 18,544 $ 13,872 |
Schedule Of Prepaid Expenses And Other Current Assets | Prepaid Expenses And Other Current Assets Prepaid Expenses And Other Current Assets July 1, September 25, Prepaid expenses $ 17,860 $ 13,680 Other current assets 8,859 7,525 Income tax receivable 10,587 10,826 Total $ 37,306 $ 32,031 |
Schedule Of Accrued Liabilities | Accrued Liabilities Accrued Liabilities July 1, September 25, Accrued royalties $ 2,100 $ 1,951 Amounts payable to patent administration program partners 56,706 40,466 Accrued compensation and benefits 62,407 70,317 Accrued professional fees 6,169 6,523 Other accrued liabilities 47,191 50,050 Total $ 174,573 $ 169,307 |
Schedule Of Other Non-Current Liabilities | Other Non-Current Liabilities Other Non-Current Liabilities July 1, September 25, Supplemental retirement plan obligations $ 2,576 $ 2,400 Non-current tax liabilities 62,305 62,843 Other liabilities 11,172 11,781 Total $ 76,053 $ 77,024 |
Investments & Fair Value Meas25
Investments & Fair Value Measurements (Tables) | 9 Months Ended |
Jul. 01, 2016 | |
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract] | |
Schedule Of Financial Assets and Liabilities Carried At Fair Value | July 1, 2016 Cost Unrealized Estimated Fair Value Gains Losses Total Level 1 Level 2 Level 3 Cash and cash equivalents: Cash $ 534,912 $ 534,912 Cash equivalents: Money market funds 65,004 — — 65,004 65,004 Corporate bonds 75 — — 75 75 Cash and cash equivalents 599,991 — — 599,991 65,004 75 — Short-term investments: Certificate of deposit (1) 9,950 — (1 ) 9,949 9,949 Government bonds 2,999 4 — 3,003 3,003 Commercial paper 8,467 2 — 8,469 8,469 Corporate bonds 74,354 39 (6 ) 74,387 74,387 Municipal debt securities 22,972 9 (11 ) 22,970 22,970 Short-term investments 118,742 54 (18 ) 118,778 3,003 115,775 — Long-term investments: Certificate of deposit (1) 4,500 — — 4,500 4,500 U.S. agency securities 10,041 31 — 10,072 10,072 Government bonds 13,478 129 — 13,607 13,607 Corporate bonds 200,704 1,253 (47 ) 201,910 201,910 Municipal debt securities 32,535 220 — 32,755 32,755 Other long-term investments (2) 3,231 356 — 3,587 356 Long-term investments 264,489 1,989 (47 ) 266,431 24,035 239,165 — Total cash, cash equivalents, and investments $ 983,222 $ 2,043 $ (65 ) $ 985,200 $ 92,042 $ 355,015 $ — Investments held in supplemental retirement plan: Assets 2,563 2,563 2,563 Included in prepaid expenses and other current assets & other non-current assets Liabilities 2,563 2,563 2,563 Included in accrued liabilities & other non-current liabilities Contingent consideration related to acquisition: Liabilities 95 95 95 Included in accrued liabilities (1) Certificates of deposit include marketable securities, while those with a maturity in excess of one year as of July 1, 2016 classified within long-term investments. (2) Other long-term investments as of July 1, 2016 include a marketable equity security of $0.4 million , and other investments that are not carried at fair value including an equity method investment of $0.7 million and two cost method investments of $2.0 million and $0.5 million . September 25, 2015 Cost Unrealized Estimated Fair Value Gains Losses Total Level 1 Level 2 Level 3 Cash and cash equivalents: Cash $ 511,736 $ 511,736 Cash equivalents: Money market funds 19,014 — — 19,014 19,014 Corporate bonds 1,176 — — 1,176 1,176 Cash and cash equivalents 531,926 — — 531,926 19,014 1,176 — Short-term investments: Government bonds 2,000 1 — 2,001 2,001 Commercial paper 6,478 — — 6,478 6,478 Corporate bonds 86,543 46 (11 ) 86,578 86,578 Municipal debt securities 43,746 98 — 43,844 43,844 Short-term investments 138,767 145 (11 ) 138,901 2,001 136,900 — Long-term investments: U.S. agency securities 1,999 1 — 2,000 2,000 Government bonds 30,505 19 (17 ) 30,507 30,507 Corporate bonds 167,394 138 (392 ) 167,140 167,140 Municipal debt securities 117,552 189 (60 ) 117,681 117,681 Other long-term investments (1) 2,961 726 — 3,687 726 Long-term investments 320,411 1,073 (469 ) 321,015 33,233 284,821 — Total cash, cash equivalents, and investments $ 991,104 $ 1,218 $ (480 ) $ 991,842 $ 54,248 $ 422,897 $ — Investments held in supplemental retirement plan: Assets 2,498 2,498 2,498 Included in prepaid expenses and other current assets & other non-current assets Liabilities 2,498 2,498 2,498 Included in accrued liabilities & other non-current liabilities Contingent consideration related to acquisition: Liabilities 95 95 95 Included in accrued liabilities Our cash and investment portfolio consists of the following (in thousands): July 1, 2016 Cost Unrealized Estimated Fair Value Gains Losses Total Level 1 Level 2 Level 3 Cash and cash equivalents: Cash $ 534,912 $ 534,912 Cash equivalents: Money market funds 65,004 — — 65,004 65,004 Corporate bonds 75 — — 75 75 Cash and cash equivalents 599,991 — — 599,991 65,004 75 — Short-term investments: Certificate of deposit (1) 9,950 — (1 ) 9,949 9,949 Government bonds 2,999 4 — 3,003 3,003 Commercial paper 8,467 2 — 8,469 8,469 Corporate bonds 74,354 39 (6 ) 74,387 74,387 Municipal debt securities 22,972 9 (11 ) 22,970 22,970 Short-term investments 118,742 54 (18 ) 118,778 3,003 115,775 — Long-term investments: Certificate of deposit (1) 4,500 — — 4,500 4,500 U.S. agency securities 10,041 31 — 10,072 10,072 Government bonds 13,478 129 — 13,607 13,607 Corporate bonds 200,704 1,253 (47 ) 201,910 201,910 Municipal debt securities 32,535 220 — 32,755 32,755 Other long-term investments (2) 3,231 356 — 3,587 356 Long-term investments 264,489 1,989 (47 ) 266,431 24,035 239,165 — Total cash, cash equivalents, and investments $ 983,222 $ 2,043 $ (65 ) $ 985,200 $ 92,042 $ 355,015 $ — Investments held in supplemental retirement plan: Assets 2,563 2,563 2,563 Included in prepaid expenses and other current assets & other non-current assets Liabilities 2,563 2,563 2,563 Included in accrued liabilities & other non-current liabilities Contingent consideration related to acquisition: Liabilities 95 95 95 Included in accrued liabilities (1) Certificates of deposit include marketable securities, while those with a maturity in excess of one year as of July 1, 2016 classified within long-term investments. (2) Other long-term investments as of July 1, 2016 include a marketable equity security of $0.4 million , and other investments that are not carried at fair value including an equity method investment of $0.7 million and two cost method investments of $2.0 million and $0.5 million . September 25, 2015 Cost Unrealized Estimated Fair Value Gains Losses Total Level 1 Level 2 Level 3 Cash and cash equivalents: Cash $ 511,736 $ 511,736 Cash equivalents: Money market funds 19,014 — — 19,014 19,014 Corporate bonds 1,176 — — 1,176 1,176 Cash and cash equivalents 531,926 — — 531,926 19,014 1,176 — Short-term investments: Government bonds 2,000 1 — 2,001 2,001 Commercial paper 6,478 — — 6,478 6,478 Corporate bonds 86,543 46 (11 ) 86,578 86,578 Municipal debt securities 43,746 98 — 43,844 43,844 Short-term investments 138,767 145 (11 ) 138,901 2,001 136,900 — Long-term investments: U.S. agency securities 1,999 1 — 2,000 2,000 Government bonds 30,505 19 (17 ) 30,507 30,507 Corporate bonds 167,394 138 (392 ) 167,140 167,140 Municipal debt securities 117,552 189 (60 ) 117,681 117,681 Other long-term investments (1) 2,961 726 — 3,687 726 Long-term investments 320,411 1,073 (469 ) 321,015 33,233 284,821 — Total cash, cash equivalents, and investments $ 991,104 $ 1,218 $ (480 ) $ 991,842 $ 54,248 $ 422,897 $ — Investments held in supplemental retirement plan: Assets 2,498 2,498 2,498 Included in prepaid expenses and other current assets & other non-current assets Liabilities 2,498 2,498 2,498 Included in accrued liabilities & other non-current liabilities Contingent consideration related to acquisition: Liabilities 95 95 95 Included in accrued liabilities (1) Other long-term investments as of September 25, 2015 include a marketable equity security of $0.7 million , and other investments that are not carried at fair value including an equity method investment of $0.5 million and two cost method investments of $2.0 million and $0.5 million . |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | The following table presents the gross unrealized losses and fair value for those available-for-sale securities that were in an unrealized loss position as of July 1, 2016 and September 25, 2015 (in thousands): July 1, 2016 September 25, 2015 Less Than 12 Months 12 Months Or Greater Less Than 12 Months (1) Investment Type Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Certificate of deposit $ 8,500 $ (1 ) $ — $ — $ — $ — U.S. agency securities — — — — 19,005 (17 ) Corporate bonds 41,844 (38 ) 7,999 (15 ) 148,034 (403 ) Municipal debt securities 8,261 (9 ) 998 (2 ) 35,476 (60 ) Total $ 58,605 $ (48 ) $ 8,997 $ (17 ) $ 202,515 $ (480 ) (1) As of September 25, 2015 , no available-for-sale securities were in an unrealized loss position for 12 months or greater. |
Available-for-sale Securities | The following table summarizes the amortized cost and estimated fair value of the available-for-sale securities within our investment portfolio based on stated maturities as of July 1, 2016 and September 25, 2015 , which are recorded within cash equivalents and both short and long-term investments in our consolidated balance sheets (in thousands): July 1, 2016 September 25, 2015 Range of maturity Amortized Cost Fair Value Amortized Cost Fair Value Due within 1 year $ 183,339 $ 183,375 $ 158,957 $ 159,090 Due in 1 to 2 years 185,070 185,835 173,571 173,577 Due in 2 to 3 years 76,689 77,508 143,879 143,752 Total $ 445,098 $ 446,718 $ 476,407 $ 476,419 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 9 Months Ended |
Jul. 01, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | S&M and G&A expenses in our consolidated statements of operations. PP&E consist of the following (in thousands): Property, Plant And Equipment July 1, September 25, Land $ 43,373 $ 43,537 Buildings and building improvements 269,838 248,390 Leasehold improvements 63,173 61,455 Machinery and equipment 88,059 70,143 Computer equipment and software 150,720 136,666 Furniture and fixtures 28,211 25,489 Equipment provided under operating leases 24,945 7,638 Construction-in-progress 5,149 11,448 Property, plant and equipment, gross 673,468 604,766 Less: accumulated depreciation (245,243 ) (201,675 ) Property, plant and equipment, net $ 428,225 $ 403,091 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 9 Months Ended |
Jul. 01, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill | The following table outlines changes to the carrying amount of goodwill (in thousands): Goodwill Balance at September 25, 2015 $ 307,708 Translation adjustments 1,312 Balance at July 1, 2016 $ 309,020 |
Schedule of Finite-Lived Intangible Assets | (in thousands): July 1, 2016 September 25, 2015 Intangible Assets, Net Cost Accumulated Amortization Net Cost Accumulated Amortization Net Acquired patents and technology $ 292,971 $ (94,777 ) $ 198,194 $ 172,787 $ (74,398 ) $ 98,389 Customer relationships 56,818 (32,681 ) 24,137 56,933 (28,275 ) 28,658 Other intangibles 22,712 (22,175 ) 537 22,564 (22,104 ) 460 Total $ 372,501 $ (149,633 ) $ 222,868 $ 252,284 $ (124,777 ) $ 127,507 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | As of July 1, 2016 , estimated amortization expense in future fiscal periods was as follows (in thousands): Fiscal Year Amortization Expense Remainder of 2016 $ 8,256 2017 30,471 2018 25,062 2019 24,479 2020 24,253 Thereafter 110,347 Total $ 222,868 |
Stockholders' Equity And Stoc28
Stockholders' Equity And Stock-Based Compensation (Tables) | 9 Months Ended |
Jul. 01, 2016 | |
Stockholders' Equity And Stock-Based Compensation [Abstract] | |
Summary Of Stock Options Issued To Officers, Directors, And Employees Under 2000 Stock Incentive Plan And 2005 Stock Plan | The following table summarizes information about all stock options issued under our 2005 Stock Plan: Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life Aggregate Intrinsic Value (1) (in thousands) (in years) (in thousands) Options outstanding at September 25, 2015 8,835 $ 35.85 Grants 2,203 33.30 Exercises (1,102 ) 31.18 Forfeitures and cancellations (483 ) 36.25 Options outstanding at July 1, 2016 9,453 35.72 7.2 $ 114,121 Options vested and expected to vest at July 1, 2016 8,922 35.69 7.1 106,896 Options exercisable at July 1, 2016 4,986 $ 34.54 6.0 64,591 (1) Aggregate intrinsic value is based on the closing price of our Class A common stock on July 1, 2016 of $47.64 and excludes the impact of options that were not in-the-money. |
Summary Of Restricted Stock Units Issued To Officers, Directors And Employees Under 2005 Stock Incentive Plan | The following table summarizes information about RSUs issued under our 2005 Stock Plan: Shares Weighted-Average Grant Date Fair Value (in thousands) Non-vested at September 25, 2015 2,830 $ 40.73 Granted 1,334 34.23 Vested (1,043 ) 36.74 Forfeitures (165 ) 38.21 Non-vested at July 1, 2016 2,956 $ 39.35 |
Schedule Of Fair Value Of Stock-Based Awards Estimated Using Weighted-Average Assumptions | The weighted-average assumptions used in the determination of the fair value of our stock options were as follows: Fiscal Quarter Ended Fiscal Year-To-Date Ended July 1, June 26, July 1, June 26, Expected term (in years) 5.24 5.21 5.24 4.79 Risk-free interest rate 1.2 % 1.5 % 1.7 % 1.5 % Expected stock price volatility 30.1 % 29.0 % 29.8 % 29.7 % Dividend yield 1.1 % 1.0 % 1.4 % 0.9 % |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | The following two tables separately present stock-based compensation expense both by award type and classification in our consolidated statements of operations (in thousands): Expense - By Award Type Fiscal Quarter Ended Fiscal Year-To-Date Ended July 1, June 26, July 1, June 26, Compensation Expense - By Type Stock options $ 4,980 $ 5,501 $ 16,344 $ 17,513 Restricted stock units 10,080 10,005 32,423 30,297 Employee stock purchase plan 947 807 2,706 3,012 Total stock-based compensation 16,007 16,313 51,473 50,822 Benefit from income taxes (4,655 ) (4,774 ) (15,067 ) (14,815 ) Total stock-based compensation, net of tax $ 11,352 $ 11,539 $ 36,406 $ 36,007 Expense - By Income Statement Line Item Classification Fiscal Quarter Ended Fiscal Year-To-Date Ended July 1, June 26, July 1, June 26, Compensation Expense - By Classification Cost of products $ 220 $ 241 $ 719 $ 711 Cost of services 113 111 356 348 Research and development 4,243 4,261 13,618 14,473 Sales and marketing 6,451 6,405 20,602 17,890 General and administrative 4,980 5,295 16,178 17,400 Total stock-based compensation 16,007 16,313 51,473 50,822 Benefit from income taxes (4,655 ) (4,774 ) (15,067 ) (14,815 ) Total stock-based compensation, net of tax $ 11,352 $ 11,539 $ 36,406 $ 36,007 |
Schedule of Tax Benefit from Exercise of Options | This benefit was as follows (in thousands): Fiscal Quarter Ended Fiscal Year-To-Date Ended July 1, June 26, July 1, June 26, Tax benefit - stock option exercises & shares issued under ESPP $ 358 $ 121 $ 481 $ 308 |
Schedule of Stock Repurchase Authorizations | The following table summarizes the initial amount of authorized repurchases as well as additional repurchases approved by our Board of Directors as of July 1, 2016 (in thousands): Authorization Period Authorization Amount Fiscal 2010: November 2009 $ 250,000 Fiscal 2010: July 2010 300,000 Fiscal 2011: July 2011 250,000 Fiscal 2012: February 2012 100,000 Fiscal 2015: October 2014 200,000 Total $ 1,100,000 |
Schedule of Stock Repurchase Activity | The following table provides information regarding share repurchase activity under the program during fiscal 2016 : Quarterly Repurchase Activity Shares Repurchased Cost (1) Average Price Paid Per Share (2) (in thousands) Q1 - Quarter ended January 1, 2016 1,140,700 $ 39,449 $ 34.57 Q2 - Quarter ended April 1, 2016 975,745 37,407 38.32 Q3 - Quarter ended July 1, 2016 176,854 7,998 45.22 Total 2,293,299 $ 84,854 (1) Cost of share repurchases includes the price paid per share and applicable commissions. (2) Average price paid per share excludes commission costs. |
Dividends Declared | In October 2014, our Board of Directors initiated a recurring quarterly dividend program for our stockholders. The following table summarizes the dividend payments made under the program during fiscal 2016 : Fiscal Period Declaration Date Record Date Payment Date Cash Dividend Per Common Share Dividend Payment Fiscal 2016 Q1 - Quarter ended January 1, 2016 January 25, 2016 February 8, 2016 February 17, 2016 $ 0.12 $12.1 million Q2 - Quarter ended April 1, 2016 April 25, 2016 May 9, 2016 May 18, 2016 $ 0.12 $12.0 million Q3 - Quarter ended July 1, 2016 July 25, 2016 August 8, 2016 August 17, 2016 $ 0.12 $12.1 million (1) (1) The amount of the dividend payment is estimated based on the number of shares of our Class A and Class B common stock that we estimate will be outstanding as of the Record Date. |
Accumulated Other Comprehensi29
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Jul. 01, 2016 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table summarizes the changes in the accumulated balances during the period, and includes information regarding the manner in which the reclassifications out of AOCI into earnings affect our consolidated statements of operations (in thousands): Fiscal Quarter Ended July 1, 2016 Fiscal Year-To-Date Ended July 1, 2016 Investment Securities Currency Translation Adjustments Total Investment Securities Currency Translation Adjustments Total Balance, beginning of period $ 1,053 $ (9,395 ) $ (8,342 ) $ 350 $ (11,812 ) $ (11,462 ) Other comprehensive income/(loss) before reclassifications: Unrealized gains - investment securities 695 695 937 937 Foreign currency translation (losses) (1) (2,852 ) (2,852 ) (623 ) (623 ) Income tax effect - benefit/(expense) (6 ) 288 282 99 476 575 Net of tax 689 (2,564 ) (1,875 ) 1,036 (147 ) 889 Amounts reclassified from AOCI into earnings: Realized gains - investment securities (1) 15 15 493 493 Income tax effect - (expense) (2) (3 ) (3 ) (125 ) (125 ) Net of tax 12 — 12 368 — 368 Net current-period other comprehensive income 701 (2,564 ) (1,863 ) 1,404 (147 ) 1,257 Balance, end of period $ 1,754 $ (11,959 ) $ (10,205 ) $ 1,754 $ (11,959 ) $ (10,205 ) Fiscal Quarter Ended June 26, 2015 Fiscal Year-To-Date Ended June 26, 2015 Investment Securities Currency Translation Adjustments Total Investment Securities Currency Translation Adjustments Total Balance, beginning of period $ 1,170 $ (8,702 ) $ (7,532 ) $ 505 $ 2,509 $ 3,014 Other comprehensive income/(loss) before reclassifications: Unrealized gains/(losses) - investment securities (787 ) (787 ) 382 382 Foreign currency translation gains/(losses) (1) 1,058 1,058 (10,982 ) (10,982 ) Income tax effect - benefit/(expense) 162 (188 ) (26 ) (165 ) 641 476 Net of tax (625 ) 870 245 217 (10,341 ) (10,124 ) Amounts reclassified from AOCI into earnings: Realized (losses) - investment securities (1) (138 ) (138 ) (342 ) (342 ) Income tax effect - benefit (2) 34 34 61 61 Net of tax (104 ) — (104 ) (281 ) — (281 ) Net current-period other comprehensive income/(loss) (729 ) 870 141 (64 ) (10,341 ) (10,405 ) Balance, end of period $ 441 $ (7,832 ) $ (7,391 ) $ 441 $ (7,832 ) $ (7,391 ) (1) Realized gains or losses from the sale of our available-for-sale investment securities or from foreign currency translation adjustments are included within other income/expense, net in our consolidated statements of operations. (2) The income tax benefit or expense is included within provision for income taxes in our consolidated statements of operations. |
Per Share Data (Tables)
Per Share Data (Tables) | 9 Months Ended |
Jul. 01, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The following table sets forth the computation of basic and diluted EPS attributable to Dolby Laboratories, Inc. (in thousands, except per share amounts): Fiscal Quarter Ended Fiscal Year-To-Date Ended July 1, June 26, July 1, June 26, Numerator: Net income attributable to Dolby Laboratories, Inc. $ 63,628 $ 35,506 $ 161,927 $ 134,837 Denominator: Weighted-average shares outstanding—basic 100,533 102,670 100,578 102,494 Potential common shares from options to purchase common stock 1,372 827 839 903 Potential common shares from restricted stock units 772 608 562 730 Weighted-average shares outstanding—diluted 102,677 104,105 101,979 104,127 Net income per share attributable to Dolby Laboratories, Inc.: Basic $ 0.63 $ 0.35 $ 1.61 $ 1.32 Diluted $ 0.62 $ 0.34 $ 1.59 $ 1.29 Antidilutive awards excluded from calculation: Stock options 2,241 4,617 5,910 3,962 Restricted stock units 6 10 13 6 |
Income Taxes (Tables)
Income Taxes (Tables) | 9 Months Ended |
Jul. 01, 2016 | |
Income Tax Disclosure [Abstract] | |
Schedule of Withholding Taxes | Withholding taxes were as follows (in thousands): Fiscal Quarter Ended Fiscal Year-To-Date Ended July 1, June 26, July 1, June 26, Withholding taxes $ 11,540 $ 10,021 $ 33,728 $ 34,163 |
Commitments And Contingencies (
Commitments And Contingencies (Tables) | 9 Months Ended |
Jul. 01, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule Of Contractual Obligations And Commitments | July 1, 2016 (in thousands): Payments Due By Fiscal Period Remainder Of Fiscal Fiscal Fiscal Fiscal Thereafter Total Naming rights $ — $ 7,619 $ 7,715 $ 7,811 $ 7,909 $ 102,980 $ 134,034 Donation commitments 55 255 6,300 322 322 1,080 8,334 Operating leases 3,261 13,273 10,731 8,293 7,621 30,727 73,906 Purchase obligations 2,795 7,998 1,634 218 — — 12,645 Total $ 6,111 $ 29,145 $ 26,380 $ 16,644 $ 15,852 $ 134,787 $ 228,919 |
Business Combinations (Tables)
Business Combinations (Tables) | 9 Months Ended |
Jul. 01, 2016 | |
Business Combinations [Abstract] | |
Schedule of Business Acquisitions, by Acquisition | The following table summarizes the purchase price allocation made to the net tangible and intangible assets acquired (including cash of $8.4 million ) and liabilities assumed based on their acquisition date fair values, with the excess amount recorded as goodwill, which is representative of the expected benefits and synergies from the integration of Doremi technology with ours as well as their assembled workforce. Purchase Price Allocation Current assets $ 17,231 Inventories 16,372 Intangible assets 45,600 Goodwill 39,672 Current liabilities (11,653 ) Non-current liabilities (8,820 ) Cash consideration paid to sellers 98,402 Add: contingent consideration 740 Total purchase consideration $ 99,142 |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination | The following table summarizes the fair values allocated to the various intangible assets acquired (in thousands), the weighted-average useful lives over which they will be amortized using the straight-line method, and the classification of their amortized expense in our consolidated statements of operations. The value of these acquired intangibles was determined based on the present value of estimated future cash flows under various valuation techniques and inputs. Intangible Assets Acquired Purchase Price Allocation Weighted-Average Useful Life (Years) Income Statement Classification: Amortization Expense Customer relationships $25,600 10 Sales & Marketing Developed technology 17,500 7.5 Cost of Sales Trade name 1,300 1 Sales & Marketing Backlog 1,200 1 Cost of Sales Total $45,600 |
Basis Of Presentation (Details)
Basis Of Presentation (Details) - segment | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Jul. 01, 2016 | Jun. 26, 2015 | Jul. 01, 2016 | Jun. 26, 2015 | Sep. 30, 2016 | Sep. 25, 2015 | |
Significant Accounting Policies [Line Items] | ||||||
Number of weeks in fiscal year | 13 years | 13 years | 40 years | 39 years | 52 years | |
Number of Operating Segments | 1 | |||||
Scenario, Forecast [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Number of weeks in fiscal year | 53 years |
Summary Of Significant Accoun35
Summary Of Significant Accounting Policies (Details) - Accounting Standards Update 2015-17 [Member] $ in Millions | Sep. 25, 2015USD ($) |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Deferred tax assets, current | $ 97.1 |
Deferred tax assets, noncurrent | $ 97.1 |
Composition Of Certain Financ36
Composition Of Certain Financial Statement Captions (Schedule Of Accounts Receivable) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Jul. 01, 2016 | Sep. 25, 2015 | |
Composition Of Certain Financial Statement Captions [Abstract] | ||
Document Period End Date | Jul. 1, 2016 | |
Trade accounts receivable | $ 83,505 | $ 94,559 |
Accounts receivable related to patent administration program | 10,666 | 8,546 |
Accounts receivable, gross | 94,171 | 103,105 |
Less: allowance for doubtful accounts | (2,534) | (1,542) |
Accounts receivable, net | $ 91,637 | $ 101,563 |
Composition Of Certain Financ37
Composition Of Certain Financial Statement Captions (Schedule Of Inventories) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Jul. 01, 2016 | Sep. 25, 2015 | |
Composition Of Certain Financial Statement Captions [Abstract] | ||
Document Period End Date | Jul. 1, 2016 | |
Raw materials | $ 4,849 | $ 3,246 |
Work in process | 5,696 | 3,279 |
Finished goods | 7,999 | 7,347 |
Inventories | $ 18,544 | $ 13,872 |
Composition Of Certain Financ38
Composition Of Certain Financial Statement Captions (Narrative) (Details) - USD ($) $ in Thousands | Jul. 01, 2016 | Sep. 25, 2015 |
Composition Of Certain Financial Statement Captions [Line Items] | ||
Raw materials | $ 4,849 | $ 3,246 |
Capital expenditures incurred, but not yet paid | 9,100 | 20,500 |
Other Noncurrent Assets [Member] | ||
Composition Of Certain Financial Statement Captions [Line Items] | ||
Raw materials | $ 1,600 | $ 1,400 |
Composition Of Certain Financ39
Composition Of Certain Financial Statement Captions (Schedule Of Prepaid Expenses And Other Current Assets) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Jul. 01, 2016 | Sep. 25, 2015 | |
Composition Of Certain Financial Statement Captions [Abstract] | ||
Document Period End Date | Jul. 1, 2016 | |
Prepaid assets | $ 17,860 | $ 13,680 |
Other current assets | 8,859 | 7,525 |
Income tax receivable | 10,587 | 10,826 |
Prepaid expenses and other current assets | $ 37,306 | $ 32,031 |
Composition Of Certain Financ40
Composition Of Certain Financial Statement Captions (Schedule Of Accrued Liabilities) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Jul. 01, 2016 | Sep. 25, 2015 | |
Composition Of Certain Financial Statement Captions [Abstract] | ||
Document Period End Date | Jul. 1, 2016 | |
Accrued royalties | $ 2,100 | $ 1,951 |
Amounts payable to patent administration program partners | 56,706 | 40,466 |
Accrued compensation and benefits | 62,407 | 70,317 |
Accrued professional fees | 6,169 | 6,523 |
Other accrued liabilities | 47,191 | 50,050 |
Total | 174,573 | 169,307 |
Capital expenditures incurred, but not yet paid | $ 9,100 | $ 20,500 |
Composition Of Certain Financ41
Composition Of Certain Financial Statement Captions (Schedule Of Other Non-Current Liabilities) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Jul. 01, 2016 | Sep. 25, 2015 | |
Composition Of Certain Financial Statement Captions [Abstract] | ||
Document Period End Date | Jul. 1, 2016 | |
Supplemental retirement plan obligations | $ 2,576 | $ 2,400 |
Non-current tax liabilities | 62,305 | 62,843 |
Other liabilities | 11,172 | 11,781 |
Other non-current liabilities | $ 76,053 | $ 77,024 |
Investments & Fair Value Meas42
Investments & Fair Value Measurements (Schedule Of Financial Assets and Liabilities Carried At Fair Value) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Jul. 01, 2016 | Sep. 25, 2015 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Document Period End Date | Jul. 1, 2016 | |
Cash and Cash Equivalents, Fair Value Disclosure | $ 599,991 | $ 531,926 |
Available-for-sale Debt Securities, Amortized Cost Basis | 445,098 | 476,407 |
Available-for-sale Securities, Debt Securities | 446,718 | 476,419 |
Investment Owned, at Cost | 983,222 | 991,104 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 17 | |
Investment Owned, Unrecognized Unrealized Appreciation | (2,043) | (1,218) |
Investment Owned, Unrecognized Unrealized Depreciation | (65) | (480) |
Cash Cash Equivalents And Investments Total | 985,200 | 991,842 |
Financial assets carried at fair value | 531,926 | |
Contingent Consideration Classified as Equity, Fair Value Disclosure | 95 | 95 |
Restricted Cash and Cash Equivalents | 5,673 | 2,936 |
Long-term investments | 266,431 | 321,015 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 58,605 | 202,515 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (48) | (480) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 8,997 | |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Amortized Cost Basis | 183,339 | 158,957 |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value | 183,375 | 159,090 |
Available For Sale Securities Debt Maturities After One Through Two Years Amortized Cost | 185,070 | 173,571 |
Available For Sale Securities Debt Maturities After One Through Two Years Fair Value | 185,835 | 173,577 |
Available For Sale Securities Debt Maturities After Two Through Three Years Amortized Cost | 76,689 | 143,879 |
Available For Sale Securities Debt Maturities After Two Through Three Years Fair Value | 77,508 | 143,752 |
Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 65,004 | 19,014 |
Financial assets carried at fair value | 92,042 | 54,248 |
Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 75 | 1,176 |
Financial assets carried at fair value | 355,015 | 422,897 |
Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Contingent Consideration Classified as Equity, Fair Value Disclosure | 95 | 95 |
Cash [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 534,912 | 511,736 |
Money Market Funds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 65,004 | 19,014 |
Money Market Funds [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 65,004 | 19,014 |
Certificates of Deposit [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 8,500 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1) | 0 |
U.S. Agency Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | 19,005 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | (17) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | |
Corporate Bonds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 75 | 1,176 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 15 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 41,844 | 148,034 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (38) | (403) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 7,999 | |
Corporate Bonds [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value Disclosure | 1,176 | |
Corporate Bonds [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 75 | |
Municipal Bonds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 2 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 8,261 | 35,476 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (9) | (60) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 998 | |
Other Long-term Investments [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Noncurrent, Fair Value Disclosure | 700 | 500 |
Cost Method Investment, Fair Value Measurement Adjustment | 400 | 700 |
Investments Held In Supplemental Retirement Plan [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial assets carried at fair value | 2,563 | 2,498 |
Financial liabilities carried at fair value | 2,563 | 2,498 |
Cost Method Investment 1 [Member] | Other Long-term Investments [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term investments | 2,000 | 2,000 |
Cost Method Investment 2 [Member] | Other Long-term Investments [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term investments | 500 | 500 |
Short-term Investments [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 118,742 | 138,767 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 54 | 145 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (18) | (11) |
Available-for-sale Securities, Debt Securities | 118,778 | 138,901 |
Short-term Investments [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value Disclosure | 3,003 | 2,001 |
Short-term Investments [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value Disclosure | 115,775 | 136,900 |
Short-term Investments [Member] | Certificates of Deposit [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 9,950 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (1) | |
Available-for-sale Securities | 9,949 | |
Short-term Investments [Member] | Certificates of Deposit [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value Disclosure | 9,949 | |
Short-term Investments [Member] | U.S. Agency Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 2,000 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 1 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | |
Available-for-sale Securities, Debt Securities | 2,001 | |
Short-term Investments [Member] | U.S. Agency Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value Disclosure | 2,001 | |
Short-term Investments [Member] | Government Bonds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 2,999 | |
Available-for-sale Securities, Debt Securities | 3,003 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 4 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | |
Short-term Investments [Member] | Government Bonds [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value Disclosure | 3,003 | |
Short-term Investments [Member] | Commercial Paper [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 8,467 | 6,478 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 2 | 0 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Available-for-sale Securities, Debt Securities | 8,469 | 6,478 |
Short-term Investments [Member] | Commercial Paper [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value Disclosure | 8,469 | 6,478 |
Short-term Investments [Member] | Corporate Bonds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 74,354 | 86,543 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 39 | 46 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (6) | (11) |
Available-for-sale Securities, Debt Securities | 74,387 | 86,578 |
Short-term Investments [Member] | Corporate Bonds [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value Disclosure | 74,387 | 86,578 |
Short-term Investments [Member] | Municipal Bonds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 22,972 | 43,746 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 9 | 98 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (11) | 0 |
Available-for-sale Securities, Debt Securities | 22,970 | 43,844 |
Short-term Investments [Member] | Municipal Bonds [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value Disclosure | 22,970 | 43,844 |
Long-term Investments [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 264,489 | 320,411 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 1,989 | 1,073 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (47) | (469) |
Available-for-sale Securities | 266,431 | 321,015 |
Long-term Investments [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Noncurrent, Fair Value Disclosure | 24,035 | 33,233 |
Long-term Investments [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Noncurrent, Fair Value Disclosure | 239,165 | 284,821 |
Long-term Investments [Member] | Certificates of Deposit [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 4,500 | |
Available-for-sale Securities | 4,500 | |
Long-term Investments [Member] | Certificates of Deposit [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Noncurrent, Fair Value Disclosure | 4,500 | |
Long-term Investments [Member] | U.S. Agency Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 10,041 | 1,999 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 31 | 1 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Available-for-sale Securities | 10,072 | 2,000 |
Long-term Investments [Member] | U.S. Agency Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Noncurrent, Fair Value Disclosure | 10,072 | 2,000 |
Long-term Investments [Member] | Government Bonds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 13,478 | 30,505 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 129 | 19 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | (17) |
Available-for-sale Securities | 13,607 | 30,507 |
Long-term Investments [Member] | Government Bonds [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Noncurrent, Fair Value Disclosure | 13,607 | 30,507 |
Long-term Investments [Member] | Corporate Bonds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 200,704 | 167,394 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 1,253 | 138 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (47) | (392) |
Available-for-sale Securities | 201,910 | 167,140 |
Long-term Investments [Member] | Corporate Bonds [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Noncurrent, Fair Value Disclosure | 201,910 | 167,140 |
Long-term Investments [Member] | Municipal Bonds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 32,535 | 117,552 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 220 | 189 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | (60) |
Available-for-sale Securities | 32,755 | 117,681 |
Long-term Investments [Member] | Municipal Bonds [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Noncurrent, Fair Value Disclosure | 32,755 | 117,681 |
Long-term Investments [Member] | Other Long-term Investments [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 3,231 | 2,961 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 356 | 726 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Available-for-sale Securities | 3,587 | 3,687 |
Long-term Investments [Member] | Other Long-term Investments [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Noncurrent, Fair Value Disclosure | $ 356 | $ 726 |
Property, Plant and Equipment43
Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Jul. 01, 2016 | Sep. 25, 2015 |
Property, Plant and Equipment [Line Items] | ||
Property, Plant And Equipment, Gross | $ 673,468 | $ 604,766 |
Less: accumulated depreciation | (245,243) | (201,675) |
Property, Plant And Equipment, Net | 428,225 | 403,091 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant And Equipment, Gross | 43,373 | 43,537 |
Building [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant And Equipment, Gross | 269,838 | 248,390 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant And Equipment, Gross | 63,173 | 61,455 |
Machinery and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant And Equipment, Gross | 88,059 | 70,143 |
Computer Systems and Software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant And Equipment, Gross | 150,720 | 136,666 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant And Equipment, Gross | 28,211 | 25,489 |
Equipment Leased to Other Party [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant And Equipment, Gross | 24,945 | 7,638 |
Construction in Progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant And Equipment, Gross | $ 5,149 | $ 11,448 |
Goodwill and Intangible Asset44
Goodwill and Intangible Assets Goodwill Rollforward (Details) $ in Thousands | 9 Months Ended |
Jul. 01, 2016USD ($) | |
Goodwill [Roll Forward] | |
Balance at September 26, 2014 | $ 307,708 |
Translation adjustments | 1,312 |
Balance at September 25, 2015 | $ 309,020 |
Goodwill and Intangible Asset45
Goodwill and Intangible Assets Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||||
Jul. 01, 2016 | Apr. 01, 2016 | Jan. 01, 2016 | Jun. 26, 2015 | Mar. 27, 2015 | Dec. 26, 2014 | Jul. 01, 2016 | Jun. 26, 2015 | Sep. 25, 2015 | |
Finite-Lived Intangible Assets [Line Items] | |||||||||
Cost | $ 372,501 | $ 372,501 | $ 252,284 | ||||||
Accumulated Amortization | (149,633) | (149,633) | (124,777) | ||||||
Total | 222,868 | 222,868 | 127,507 | ||||||
Purchases of intangible assets | $ 15,000 | $ 0 | $ 105,300 | $ 16,300 | $ 0 | $ 6,400 | 118,770 | $ 22,716 | |
Weighted average useful life | 18 years | 0 years | 9 years | 7 years | 0 years | 18 years | |||
Amortization of Intangible Assets | $ 8,200 | $ 5,000 | 24,900 | $ 16,000 | |||||
Acquired Patents And Technology [Member] | |||||||||
Finite-Lived Intangible Assets [Line Items] | |||||||||
Cost | 292,971 | 292,971 | 172,787 | ||||||
Accumulated Amortization | (94,777) | (94,777) | (74,398) | ||||||
Total | 198,194 | 198,194 | 98,389 | ||||||
Purchases of intangible assets | $ 105,000 | ||||||||
Weighted average useful life | 9 years | ||||||||
Customer Relationships [Member] | |||||||||
Finite-Lived Intangible Assets [Line Items] | |||||||||
Cost | 56,818 | $ 56,818 | 56,933 | ||||||
Accumulated Amortization | (32,681) | (32,681) | (28,275) | ||||||
Total | 24,137 | 24,137 | 28,658 | ||||||
Other Intangibles [Member] | |||||||||
Finite-Lived Intangible Assets [Line Items] | |||||||||
Cost | 22,712 | 22,712 | 22,564 | ||||||
Accumulated Amortization | (22,175) | (22,175) | (22,104) | ||||||
Total | 537 | $ 537 | $ 460 | ||||||
Purchases of intangible assets | $ 15,000 | $ 300 | |||||||
Weighted average useful life | 18 years | 18 years |
Goodwill and Intangible Asset46
Goodwill and Intangible Assets Future Amortization Expense (Details) - USD ($) $ in Thousands | Jul. 01, 2016 | Sep. 25, 2015 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Remainder of 2016 | $ 8,256 | |
2,017 | 30,471 | |
2,018 | 25,062 | |
2,019 | 24,479 | |
2,020 | 24,253 | |
Thereafter | 110,347 | |
Total | $ 222,868 | $ 127,507 |
Stockholders' Equity And Stoc47
Stockholders' Equity And Stock-Based Compensation (Narrative) (Details) - USD ($) | Jan. 25, 2016 | Jul. 01, 2016 | Jan. 01, 2016 | Jun. 26, 2015 | Jul. 01, 2016 | Jun. 26, 2015 | Oct. 31, 2010 | Mar. 28, 2014 | Sep. 25, 2015 |
Stockholders' Equity And Stock-Based Compensation [Line Items] | |||||||||
Options outstanding to purchase | 8,835,000 | ||||||||
Year end stock price | $ 47.64 | ||||||||
Percentage of vesting per year | 50.00% | ||||||||
Common stock, dividends declared (in dollars per share) | $ 0.12 | $ 0.12 | $ 0.10 | $ 0.36 | $ 0.30 | ||||
Remaining authorization to purchase additional shares | $ 67,900,000 | $ 67,900,000 | |||||||
Restricted Stock Units (RSUs) [Member] | |||||||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | |||||||||
Stock options expected to vest | 77,700,000 | $ 77,700,000 | |||||||
Employee stock options expected to be recognized over a weighted-average period | 2 years 7 months 6 days | ||||||||
Executive Officer [Member] | Performance-Based Stock Options [Member] | |||||||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 419,623 | ||||||||
Employees and Officers [Member] | Restricted Stock Units (RSUs) [Member] | |||||||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | |||||||||
Options vesting period | 4 years | ||||||||
Awards Granted Prior to November 2010 [Member] | Directors [Member] | Restricted Stock Units (RSUs) [Member] | |||||||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | |||||||||
Options vesting period | 3 years | 1 year | |||||||
Awards Granted After November 2010 [Member] | Directors [Member] | Restricted Stock Units (RSUs) [Member] | |||||||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | |||||||||
Options vesting period | 2 years | ||||||||
Awards Granted Under 2005 Stock Plan Prior To February 2011 [Member] | |||||||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | |||||||||
Terms for issuance of stock | 2 | ||||||||
Awards Granted Under 2005 Stock Plan From February 2011 [Member] | |||||||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | |||||||||
Terms for issuance of stock | 1.6 | ||||||||
Employee Stock Purchase Plan [Member] | |||||||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | |||||||||
Percentage of compensation withheld by employees to purchase common stock | 10.00% | ||||||||
Common stock purchase price determined over percentage of closing price | 15.00% | ||||||||
Employee Stock Option [Member] | |||||||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | |||||||||
Stock options expected to vest | $ 37,200,000 | $ 37,200,000 | |||||||
Employee stock options expected to be recognized over a weighted-average period | 2 years 4 months 24 days | ||||||||
Class A Common Stock [Member] | |||||||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | |||||||||
Common stock, shares authorized (shares) | 500,000,000 | 500,000,000 | 500,000,000 | ||||||
Common stock, shares issued (shares) | 54,978,917 | 54,978,917 | 50,291,426 | ||||||
Common stock, shares outstanding (shares) | 54,978,917 | 54,978,917 | 50,291,426 | ||||||
Class A Common Stock [Member] | 2005 Stock Plan. [Member] | |||||||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | |||||||||
Shares authorized under plan | 29,000,000 | 29,000,000 | |||||||
Options outstanding to purchase | 9,453,000 | 9,453,000 | |||||||
Weighted average remaining contractual life | 7 years 2 months 24 days | ||||||||
Options vested and exercisable | 4,986,000 | 4,986,000 | |||||||
Class A Common Stock [Member] | Employee Stock Purchase Plan [Member] | |||||||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | |||||||||
Maximum value of common stock available for eligible employees | $ 25,000 | ||||||||
Maximum number of common stock available for eligible employees | 1,000 | ||||||||
Purchase period | 6 months | ||||||||
Look back commencement period | 1 year | ||||||||
Class B Common Stock [Member] | |||||||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | |||||||||
Common stock, shares authorized (shares) | 500,000,000 | 500,000,000 | 500,000,000 | ||||||
Common stock, shares issued (shares) | 45,888,962 | 45,888,962 | 50,743,311 | ||||||
Common stock, shares outstanding (shares) | 45,888,962 | 45,888,962 | 50,743,311 | ||||||
Options Granted Prior To June 2008 [Member] | Employee Stock Option [Member] | |||||||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | |||||||||
Options expiration period | 10 years | ||||||||
Options Granted From June 2008 [Member] | Employee Stock Option [Member] | |||||||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | |||||||||
Options vesting period | 4 years | ||||||||
Percentage of stock option becoming exercisable subjected to date of grant | 25.00% |
Stockholders' Equity And Stoc48
Stockholders' Equity And Stock-Based Compensation (Summary Of Stock Options Issued To Officers, Directors, And Employees Under 2000 Stock Incentive Plan And 2005 Stock Plan) (Details) $ / shares in Units, shares in Thousands, $ in Thousands | 9 Months Ended |
Jul. 01, 2016USD ($)$ / sharesshares | |
Shares | |
Shares, Options outstanding at beginning of period | shares | 8,835 |
Shares, Grants | shares | 2,203 |
Shares, Exercises | shares | (1,102) |
Shares, Forfeitures and cancellations | shares | (483) |
Shares, Options vested and expected to vest | shares | 8,922 |
Weighted-Average Exercise Price | |
Weighted Average Exercise Price, Options outstanding at beginning of period | $ 35.85 |
Weighted Average Exercise Price, Grants (in usd per share) | 33.30 |
Weighted Average Exercise Price, Exercises (in usd per share) | 31.18 |
Weighted Average Exercise Price, Forfeitures and cancellations (in usd per share) | 36.25 |
Weighted Average Exercise Price, Options outstanding at end of period | 35.72 |
Weighted Average Exercise Price, Options vested and expected to vest (in usd per share) | 35.69 |
Weighted Average Exercise Price, Options exercisable (in usd per share) | $ 34.54 |
Weighted Average Remaining Contractual Life, Options vested and expected to vest at end of period | 7 years 1 month 24 days |
Weighted Average Remaining Contractual Life, Options exercisable | 6 years |
Aggregate Intrinsic Value, Options outstanding | $ | $ 114,121 |
Aggregate Intrinsic Value, Options vested and expected to vest | $ | 106,896 |
Aggregate Intrinsic Value, Options exercisable | $ | $ 64,591 |
Stockholders' Equity And Stoc49
Stockholders' Equity And Stock-Based Compensation (Summary Of Restricted Stock Units Issued To Officers, Directors, And Employees Under 2005 Stock Incentive Plan) (Details) shares in Thousands | 9 Months Ended |
Jul. 01, 2016$ / sharesshares | |
Shares | |
Shares, Non-vested at beginning of period | shares | 2,830 |
Shares, Granted | shares | 1,334 |
Shares, Vested | shares | (1,043) |
Shares, Forfeitures | shares | (165) |
Shares, Non-vested at end of period | shares | 2,956 |
Weighted-Average Grant Date Fair Value | |
Weighted Average Fair Value, Non-vested at beginning of period | $ / shares | $ 40.73 |
Weighted Average Fair Value, Granted | $ / shares | 34.23 |
Weighted Average Fair Value, Vested | $ / shares | 36.74 |
Weighted Average Fair Value, Forfeitures | $ / shares | 38.21 |
Weighted Average Fair Value, Non-vested at end of period | $ / shares | $ 39.35 |
Stockholders' Equity And Stoc50
Stockholders' Equity And Stock-Based Compensation (Schedule Of Fair Value Of Stock-Based Awards Estimated Using Weighted-Average Assumptions) (Details) | 3 Months Ended | 9 Months Ended | ||
Jul. 01, 2016 | Jun. 26, 2015 | Jul. 01, 2016 | Jun. 26, 2015 | |
Stockholders' Equity And Stock-Based Compensation [Abstract] | ||||
Document Period End Date | Jul. 1, 2016 | |||
Expected life (in years) | 5 years 2 months 27 days | 5 years 2 months 16 days | 5 years 2 months 27 days | 4 years 7 months 76 days |
Risk-free interest rate | 1.20% | 1.50% | 1.70% | 1.50% |
Expected stock price volatility | 30.10% | 29.00% | 29.80% | 29.70% |
Dividend yield | 1.10% | 1.00% | 1.40% | 0.90% |
Stockholders' Equity And Stoc51
Stockholders' Equity And Stock-Based Compensation (Schedule Of Stock-Based Compensation Expense By Plan) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jul. 01, 2016 | Jun. 26, 2015 | Jul. 01, 2016 | Jun. 26, 2015 | |
Stockholders' Equity And Stock-Based Compensation [Line Items] | ||||
Document Period End Date | Jul. 1, 2016 | |||
Stock-based compensation expense | $ 16,007 | $ 16,313 | $ 51,473 | $ 50,822 |
Share-based Compensation | 51,473 | 50,822 | ||
Benefit from income taxes | (4,655) | (4,774) | (15,067) | (14,815) |
Total stock-based compensation, net of tax | 11,352 | 11,539 | 36,406 | 36,007 |
Stock Option [Member] | ||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | ||||
Stock-based compensation expense | 4,980 | 5,501 | ||
Share-based Compensation | 16,344 | 17,513 | ||
Restricted Stock Units [Member] | ||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | ||||
Stock-based compensation expense | 10,080 | 10,005 | ||
Share-based Compensation | 32,423 | 30,297 | ||
Employee Stock Purchase Plan [Member] | ||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | ||||
Stock-based compensation expense | 947 | 807 | ||
Share-based Compensation | 2,706 | 3,012 | ||
Cost of Sales [Member] | ||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | ||||
Stock-based compensation expense | 220 | 241 | 719 | 711 |
Cost Of Service [Member] | ||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | ||||
Stock-based compensation expense | 113 | 111 | 356 | 348 |
Research and Development Expense [Member] | ||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | ||||
Stock-based compensation expense | 4,243 | 4,261 | 13,618 | 14,473 |
Selling and Marketing Expense [Member] | ||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | ||||
Stock-based compensation expense | 6,451 | 6,405 | 20,602 | 17,890 |
General and Administrative Expense [Member] | ||||
Stockholders' Equity And Stock-Based Compensation [Line Items] | ||||
Stock-based compensation expense | $ 4,980 | $ 5,295 | $ 16,178 | $ 17,400 |
Stockholders' Equity And Stoc52
Stockholders' Equity And Stock-Based Compensation (Schedule of Stock-Based Compensation By Classification) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jul. 01, 2016 | Jun. 26, 2015 | Jul. 01, 2016 | Jun. 26, 2015 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | $ 16,007 | $ 16,313 | $ 51,473 | $ 50,822 |
Benefit from income taxes | (4,655) | (4,774) | (15,067) | (14,815) |
Total stock-based compensation, net of tax | 11,352 | 11,539 | 36,406 | 36,007 |
Cost of products [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | 220 | 241 | 719 | 711 |
Cost of services [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | 113 | 111 | 356 | 348 |
Research and development [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | 4,243 | 4,261 | 13,618 | 14,473 |
Sales and marketing [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | 6,451 | 6,405 | 20,602 | 17,890 |
General and administrative [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | $ 4,980 | $ 5,295 | $ 16,178 | $ 17,400 |
Stockholders' Equity And Stoc53
Stockholders' Equity And Stock-Based Compensation (Tax Benefit from Exercise of Options) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jul. 01, 2016 | Jun. 26, 2015 | Jul. 01, 2016 | Jun. 26, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
Document Period End Date | Jul. 1, 2016 | |||
Tax Benefit - stock option exercises & shares issued under ESPP | $ 358 | $ 121 | $ 481 | $ 308 |
Stockholders' Equity And Stoc54
Stockholders' Equity And Stock-Based Compensation (Stock Repurchase Authorizations) (Details) - USD ($) $ in Thousands | Jul. 01, 2016 | Oct. 31, 2014 | Feb. 29, 2012 | Jul. 31, 2011 | Jul. 31, 2010 | Nov. 30, 2009 |
Equity, Class of Treasury Stock [Line Items] | ||||||
Authorization Amount | $ 1,100,000 | $ 250,000 | ||||
Additional Stock Approved [Member] | ||||||
Equity, Class of Treasury Stock [Line Items] | ||||||
Authorization Amount | $ 200,000 | $ 100,000 | $ 250,000 | $ 300,000 |
Stockholders' Equity And Stoc55
Stockholders' Equity And Stock-Based Compensation (Stock Repurchase) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Jul. 01, 2016 | Apr. 01, 2016 | Jan. 01, 2016 | Jul. 01, 2016 | Jun. 26, 2015 | |
Stockholders' Equity And Stock-Based Compensation [Abstract] | |||||
Shares repurchased (in shares) | 176,854 | 975,745 | 1,140,700 | 2,293,299 | |
Cost | $ 7,998 | $ 37,407 | $ 39,449 | $ 84,854 | $ 47,956 |
Average Price Paid per Share (in dollars per share) | $ 45.22 | $ 38.32 | $ 34.57 | $ 45.22 |
Stockholders' Equity and Stoc56
Stockholders' Equity and Stock-Based Compensation - Dividends (Details) - USD ($) $ / shares in Units, $ in Millions | Jul. 25, 2016 | Apr. 25, 2016 | Jan. 25, 2016 | Jul. 01, 2016 | Jun. 26, 2015 | Jul. 01, 2016 | Jun. 26, 2015 |
Dividends Payable [Line Items] | |||||||
Common stock, dividends declared (in dollars per share) | $ 0.12 | $ 0.12 | $ 0.10 | $ 0.36 | $ 0.30 | ||
Dividend Payment | $ 12.1 | ||||||
Subsequent Event [Member] | |||||||
Dividends Payable [Line Items] | |||||||
Common stock, dividends declared (in dollars per share) | $ 0.12 | $ 0.12 | |||||
Dividend Payment | $ 12.1 | $ 12 |
Accumulated Other Comprehensi57
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jul. 01, 2016 | Jun. 26, 2015 | Jul. 01, 2016 | Jun. 26, 2015 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Balance, Beginning Of Period | $ (8,342) | $ (7,532) | $ (11,462) | $ 3,014 |
Income Tax Effect - Benefit/(Expense) | 282 | (26) | 575 | (476) |
Net Of Tax | (1,875) | 245 | 889 | (10,124) |
Realized (Gains) - Investment Securities | 15 | (138) | 493 | 342 |
Income Tax Effect - (Benefit)/Expense | (3) | 34 | (125) | 61 |
Net Of Tax | 12 | (104) | 368 | (281) |
Other Comprehensive Income (Loss), After Reclassifications, Net of Tax | (1,863) | 141 | (1,257) | (10,405) |
Balance, End Of Period | (10,205) | (7,391) | (10,205) | (7,391) |
Unrealized Gains/Losses On Available-For-Sale Securities [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Balance, Beginning Of Period | 1,053 | 1,170 | 350 | 505 |
Unrealized Gains (Losses) | 695 | (787) | 937 | 382 |
Income Tax Effect - Benefit/(Expense) | (6) | 162 | 99 | 165 |
Net Of Tax | 689 | (625) | 1,036 | 217 |
Realized (Gains) - Investment Securities | 15 | (138) | 493 | 342 |
Income Tax Effect - (Benefit)/Expense | (3) | 34 | (125) | 61 |
Net Of Tax | 12 | (104) | 368 | (281) |
Other Comprehensive Income (Loss), After Reclassifications, Net of Tax | 701 | (729) | (1,404) | (64) |
Balance, End Of Period | 1,754 | 441 | 1,754 | 441 |
Foreign Currency Translation Adjustments [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Balance, Beginning Of Period | (9,395) | (8,702) | (11,812) | 2,509 |
Unrealized Gains (Losses) | (2,852) | 1,058 | (623) | (10,982) |
Income Tax Effect - Benefit/(Expense) | 288 | (188) | 476 | (641) |
Net Of Tax | (2,564) | 870 | (147) | (10,341) |
Net Of Tax | (147) | 10,341 | ||
Other Comprehensive Income (Loss), After Reclassifications, Net of Tax | (2,564) | 870 | ||
Balance, End Of Period | $ (11,959) | $ (7,832) | $ (11,959) | $ (7,832) |
Per Share Data (Details)
Per Share Data (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jul. 01, 2016 | Jun. 26, 2015 | Jul. 01, 2016 | Jun. 26, 2015 | |
Schedule Of Earnings Per Share Basic And Diluted [Line Items] | ||||
Document Period End Date | Jul. 1, 2016 | |||
Net income attributable to Dolby Laboratories, Inc. | $ 63,628 | $ 35,506 | $ 161,927 | $ 134,837 |
Weighted average shares outstanding-basic | 100,533 | 102,670 | 100,578 | 102,494 |
Potential common shares from options to purchase common stock | 1,372 | 827 | 839 | 903 |
Potential common shares from restricted stock units | 772 | 608 | 562 | 730 |
Weighted average shares outstanding-diluted | 102,677 | 104,105 | 101,979 | 104,127 |
Net income per share attributable to Dolby Laboratories, Inc. - Basic (in usd per share) | $ 0.63 | $ 0.35 | $ 1.61 | $ 1.32 |
Net income per share attributable to Dolby Laboratories, Inc. - Diluted (in usd per share) | $ 0.62 | $ 0.34 | $ 1.59 | $ 1.29 |
Stock Options [Member] | ||||
Schedule Of Earnings Per Share Basic And Diluted [Line Items] | ||||
Anti-dilutive securities, excluded from calculations (in shares) | 2,241 | 4,617 | 5,910 | 3,962 |
Restricted Stock Units [Member] | ||||
Schedule Of Earnings Per Share Basic And Diluted [Line Items] | ||||
Anti-dilutive securities, excluded from calculations (in shares) | 6 | 10 | 13 | 6 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Jul. 01, 2016 | Jun. 26, 2015 | Sep. 25, 2015 | |
Income Tax Disclosure [Abstract] | |||
Unrecognized tax benefits, gross | $ 67.7 | $ 65.2 | |
Unrecognized tax benefits if recognized, would affect our effective tax rate | $ 55.6 | $ 53 | |
Effective tax rate (as a percent) | 22.00% | 24.00% |
Income Taxes (Withholding Taxes
Income Taxes (Withholding Taxes) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jul. 01, 2016 | Jun. 26, 2015 | Jul. 01, 2016 | Jun. 26, 2015 | |
Income Tax Disclosure [Abstract] | ||||
Withholding taxes | $ 11,540 | $ 10,021 | $ 33,728 | $ 34,163 |
Restructuring (Details)
Restructuring (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jul. 01, 2016USD ($) | Jun. 26, 2015USD ($) | Jul. 01, 2016USD ($)employee | Jun. 26, 2015USD ($) | |
Restructuring Reserve [Roll Forward] | ||||
Restructuring charges | $ (10) | $ 0 | $ 1,245 | $ (39) |
Document Period End Date | Jul. 1, 2016 | |||
Restructuring Charges [Member] | ||||
Restructuring Reserve [Roll Forward] | ||||
Restructuring charges | $ 1,300 | |||
Restructuring and Related Cost, Number of Positions Eliminated | employee | 30 |
Commitments And Contingencies62
Commitments And Contingencies (Schedule Of Contractual Obligations And Commitments) (Details) $ in Thousands | Jul. 01, 2016USD ($) |
Other Commitments [Line Items] | |
Naming rights, Remainder of Fiscal 2014 | $ 0 |
Naming rights, Fiscal 2015 | 7,619 |
Naming rights, Fiscal 2016 | 7,715 |
Naming rights, Fiscal 2017 | 7,811 |
Naming rights, Fiscal 2018 | 7,909 |
Naming rights, Thereafter | 102,980 |
Naming rights, Total | 134,034 |
Donation commitments, Remainder of Fiscal 2015 | 55 |
Donation commitments, Fiscal 2016 | 255 |
Donation commitments, Fiscal 2017 | 6,300 |
Donation commitments, Fiscal 2018 | 322 |
Donation commitments, Fiscal 2019 | 322 |
Donation commitments, Thereafter | 1,080 |
Donation commitments, Total | 8,334 |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 3,261 |
Operating leases, Fiscal 2015 | 13,273 |
Operating leases, Fiscal 2016 | 10,731 |
Operating leases, Fiscal 2017 | 8,293 |
Operating leases, Fiscal 2018 | 7,621 |
Operating leases, Thereafter | 30,727 |
Operating leases, Total | 73,906 |
Unrecorded Unconditional Purchase Obligation, Due in Next Twelve Months | 2,795 |
Purchase obligation, Fiscal 2015 | 7,998 |
Purchase obligation, Fiscal 2016 | 1,634 |
Purchase Obligation, Fiscal 2017 | 218 |
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 0 |
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 0 |
Purchase obligation, Total | 12,645 |
Total, due in Remainder of Fiscal 2014 | 6,111 |
Total, due in Fiscal 2015 | 29,145 |
Total, due in Fiscal 2016 | 26,380 |
Total, due in Fiscal 2017 | 16,644 |
Total, due in Fiscal 2018 | 15,852 |
Total, due Thereafter | 134,787 |
Total due | $ 228,919 |
Commitments And Contingencies63
Commitments And Contingencies (Narrative) (Details) | 12 Months Ended |
Sep. 27, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | |
Term of agreement | 20 years |
Business Combinations (Narrativ
Business Combinations (Narrative) (Details) - USD ($) $ in Millions | Oct. 31, 2014 | Dec. 26, 2014 | Sep. 25, 2015 | Jul. 01, 2016 |
Business Acquisition, Contingent Consideration [Line Items] | ||||
Acquisition related costs | $ 0.4 | $ 6.3 | ||
Doremi Labs [Member] | ||||
Business Acquisition, Contingent Consideration [Line Items] | ||||
Cash paid to sellers | $ 98.4 | |||
Contingent consideration liability | $ 20 | |||
Contingent consideration earnout period | 4 years | |||
Fair value of contingent consideration | $ 0.7 | $ 0.1 | $ 0.1 | |
Cash acquired | $ 8.4 |
Business Combinations (Recogniz
Business Combinations (Recognized Identifiable Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands | Oct. 31, 2014 | Jul. 01, 2016 | Sep. 25, 2015 |
Business Acquisition [Line Items] | |||
Goodwill | $ 309,020 | $ 307,708 | |
Doremi Labs [Member] | |||
Business Acquisition [Line Items] | |||
Current assets | $ 17,231 | ||
Inventories | 16,372 | ||
Intangible assets | 45,600 | ||
Goodwill | 39,672 | ||
Current liabilities | (11,653) | ||
Non-current liabilities | (8,820) | ||
Cash payment to sellers | 98,402 | ||
Contingent consideration liability | 740 | ||
Cash consideration paid to sellers | $ 99,142 |
Business Combinations Business
Business Combinations Business Combinations (Intangible Assets Acquired) (Details) - USD ($) $ in Thousands | Oct. 31, 2014 | Jul. 01, 2016 | Apr. 01, 2016 | Jan. 01, 2016 | Jun. 26, 2015 | Mar. 27, 2015 | Dec. 26, 2014 |
Acquired Finite-Lived Intangible Assets [Line Items] | |||||||
Weighted average useful life | 18 years | 0 years | 9 years | 7 years | 0 years | 18 years | |
Doremi Labs [Member] | |||||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||||
Purchase Price Allocation | $ 45,600 | ||||||
Doremi Labs [Member] | Customer Relationships [Member] | |||||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||||
Purchase Price Allocation | $ 25,600 | ||||||
Weighted average useful life | 10 years | ||||||
Doremi Labs [Member] | Developed Technology [Member] | |||||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||||
Purchase Price Allocation | $ 17,500 | ||||||
Weighted average useful life | 7 years 6 months | ||||||
Doremi Labs [Member] | Trade Name [Member] | |||||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||||
Purchase Price Allocation | $ 1,300 | ||||||
Weighted average useful life | 1 year | ||||||
Doremi Labs [Member] | Backlog [Member] | |||||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||||
Purchase Price Allocation | $ 1,200 | ||||||
Weighted average useful life | 1 year |