Blue Bird (BLBD) 10-Q 8 Aug 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 29, 2019	Aug. 05, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	Blue Bird Corp
Entity Central Index Key	0001589526
Current Fiscal Year End Date	--09-28
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 29, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		26,475,918
Entity Emerging Growth Company	true
Entity Small Business	false
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Current Reporting Status	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 29, 2019	Sep. 29, 2018
Current assets
Cash and cash equivalents	$ 29,075	$ 60,260
Accounts receivable, net	40,229	24,067
Inventories	140,688	57,333
Other current assets	12,036	8,183
Total current assets	222,028	149,843
Property, plant and equipment, net	94,727	66,054
Goodwill	18,825	18,825
Intangible assets, net	55,492	55,472
Equity investment in affiliate	12,281	11,123
Deferred tax assets	4,559	4,437
Other assets	466	1,676
Total assets	408,378	307,430
Current liabilities
Accounts payable	135,902	95,780
Warranty	9,008	9,142
Accrued expenses	28,163	21,935
Deferred warranty income	8,408	8,159
Other current liabilities	15,691	3,941
Current portion of long-term debt	9,900	9,900
Total current liabilities	207,072	148,857
Long-term liabilities
Revolving credit facility	25,000	0
Long-term debt	175,479	132,239
Warranty	13,512	13,504
Deferred warranty income	15,177	15,032
Deferred tax liabilities	1,088	197
Other liabilities	12,402	4,924
Pension	19,834	21,013
Total long-term liabilities	262,492	186,909
Guarantees, commitments and contingencies (Note 6)
Stockholders' deficit
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, 0 and 93,000 issued with liquidation preference of $0 and $9,300 at June 29, 2019 and September 29, 2018, respectively	0	9,300
Common stock, $0.0001 par value, 100,000,000 shares authorized, 26,460,456 and 27,259,262 shares outstanding at June 29, 2019 and September 29, 2018, respectively	3	3
Additional paid-in capital	83,189	70,023
Accumulated deficit	(57,241)	(69,235)
Accumulated other comprehensive loss	(36,855)	(38,427)
Treasury stock, at cost, 1,782,568 and 0 shares at June 29, 2019 and September 29, 2018, respectively	(50,282)	0
Total stockholders' deficit	(61,186)	(28,336)
Total liabilities and stockholders' deficit	$ 408,378	$ 307,430

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 29, 2019	Sep. 29, 2018
Statement of Financial Position [Abstract]
Preferred Stock, Par Value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	93,000
Preferred Stock, Liquidation Preference, Value	$ 0	$ 9,300,000
Common Stock, Par Value (in dollars per share)	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares Outstanding	26,460,456	27,259,262
Treasury Stock, Common, Shares	1,782,568	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Income Statement [Abstract]
Net sales	$ 308,774	$ 314,186	$ 675,342	$ 693,363
Cost of goods sold	266,992	277,213	588,496	614,074
Gross profit	41,782	36,973	86,846	79,289
Operating expenses
Selling, general and administrative expenses	20,996	20,489	61,197	64,226
Operating profit	20,786	16,484	25,649	15,063
Interest expense	(3,369)	(1,834)	(10,241)	(5,112)
Interest income	0	25	9	42
Other expense, net	(410)	(667)	(1,034)	(399)
Income before income taxes	17,007	14,008	14,383	9,594
Income tax (expense) benefit	(3,248)	7,485	(2,833)	5,662
Equity in net income of non-consolidated affiliate	842	398	1,158	632
Net income	14,601	21,891	12,708	15,888
Earnings per share:
Net income (from above)	14,601	21,891	12,708	15,888
Less: preferred stock dividends	0	182	0	1,715
Net income available to common stockholders	$ 14,601	$ 21,709	$ 12,708	$ 14,173
Basic weighted average shares outstanding	26,451,107	26,209,697	26,449,751	24,677,838
Diluted weighted average shares outstanding	26,720,110	28,556,914	26,920,285	25,809,491
Basic earnings per share (in dollars per share)	$ 0.55	$ 0.83	$ 0.48	$ 0.57
Diluted earnings per share (in dollars per share)	$ 0.55	$ 0.77	$ 0.47	$ 0.55

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 14,601	$ 21,891	$ 12,708	$ 15,888
Other comprehensive income, net of tax
Net change in defined benefit pension plan	524	669	1,572	1,901
Total other comprehensive income	524	669	1,572	1,901
Comprehensive income	$ 15,125	$ 22,560	$ 14,280	$ 17,789

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018
Cash flows from operating activities
Net income	$ 12,708	$ 15,888
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	7,406	6,325
Non-cash interest expense	2,172	572
Share-based compensation	3,146	2,380
Equity in net income of affiliate	(1,158)	(632)
Loss on disposal of fixed assets	50	115
Deferred taxes	500	8,422
Amortization of deferred actuarial pension losses	2,068	2,640
Foreign currency hedges	109	(828)
Changes in assets and liabilities:
Accounts receivable	(16,162)	(12,422)
Inventories	(83,355)	(36,872)
Other assets	(5,014)	(1,502)
Accounts payable	42,429	41,959
Accrued expenses, pension and other liabilities	15,988	(19,023)
Total adjustments	(31,821)	(8,866)
Total cash (used in) provided by operating activities	(19,113)	7,022
Cash flows from investing activities
Cash paid for fixed and acquired intangible assets	(30,154)	(15,572)
Proceeds from sale of fixed assets	0	12
Total cash used in investing activities	(30,154)	(15,560)
Cash flows from financing activities
Borrowings under the revolving credit facility	25,000	0
Borrowings under the senior term loan	50,000	0
Repayments under the senior term loan	(7,425)	(6,000)
Cash paid for capital leases	0	(118)
Payment of dividends on preferred stock	0	(1,715)
Cash paid for employee taxes on vested restricted shares and stock option exercises	(622)	(571)
Proceeds from exercises of warrants	1,499	15,114
Common stock repurchases under share repurchase programs	0	(18,864)
Tender offer repurchase of common stock and preferred stock	50,370	0
Total cash provided by (used in) financing activities	18,082	(12,154)
Change in cash and cash equivalents	(31,185)	(20,692)
Cash and cash equivalents, beginning of period	60,260	62,616
Cash and cash equivalents, end of period	29,075	41,924
Supplemental disclosures of cash flow information
Interest paid, net of interest received	7,916	4,549
Income tax paid, net of tax refunds	2,431	3,665
Non-cash investing and financing activities:
Changes in accounts payable for capital additions to property, plant and equipment and other current assets for capitalized intangible assets	(1,307)	3,574
Cashless exercise of stock options	295	897
Right-of-use assets obtained in exchange for operating lease obligations	8,040	0
Conversion of preferred stock into common stock	$ 9,264	$ 30,700

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Deficit Statement - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In-Capital	Convertible Preferred Stock	Accumulated Other Comprehensive Loss	Accumulated Deficit	Treasury Stock
Beginning Balance (in shares) at Sep. 30, 2017		23,739,344		400,000			0
Beginning Balance at Sep. 30, 2017	$ (58,510)	$ 2	$ 45,418	$ 40,000	$ (43,875)	$ (100,055)	$ 0
Warrant Exercises (in shares)		1,314,224
Warrant exercises	15,114		15,114
Restricted stock activity (in shares)		33,963
Restricted stock activity	(370)		(370)
Stock option activity (in shares)		18,680
Stock option activity	(201)		(201)
Preferred stock dividends (in hares)		0
Preferred stock dividends	(1,715)		(1,715)
Share-based compensation expense	2,280		2,280
Share repurchases (in shares)		(857,906)
Share repurchases	(18,864)		(18,864)
Preferred stock conversion (in shares)		2,649,962		(307,000)
Preferred stock conversion	0		30,700	$ (30,700)
Net income	15,888					15,888
Other comprehensive income, net of tax	1,901				1,901
Ending Balance (in shares) at Jun. 30, 2018		26,898,267		93,000			0
Ending Balance at Jun. 30, 2018	(44,477)	$ 2	72,362	$ 9,300	(41,974)	(84,167)	$ 0
Beginning Balance (in shares) at Mar. 31, 2018		23,912,188		400,000			0
Beginning Balance at Mar. 31, 2018	(69,951)	$ 2	38,748	$ 40,000	(42,643)	(106,058)	$ 0
Warrant Exercises (in shares)		487,810
Warrant exercises	5,610		5,610
Preferred stock dividends (in hares)		0
Preferred stock dividends	(182)		(182)
Share-based compensation expense	839		839
Share repurchases (in shares)		(151,693)
Share repurchases	(3,353)		(3,353)
Preferred stock conversion (in shares)		2,649,962		(307,000)
Preferred stock conversion	0		30,700	$ (30,700)
Net income	21,891					21,891
Other comprehensive income, net of tax	669				669
Ending Balance (in shares) at Jun. 30, 2018		26,898,267		93,000			0
Ending Balance at Jun. 30, 2018	(44,477)	$ 2	72,362	$ 9,300	(41,974)	(84,167)	$ 0
Beginning Balance (in shares) at Sep. 29, 2018		27,259,262		93,000			0
Beginning Balance at Sep. 29, 2018	(28,336)	$ 3	70,023	$ 9,300	(38,427)	(69,235)	$ 0
Warrant Exercises (in shares)		130,385
Warrant exercises	1,499		1,499
Restricted stock activity (in shares)		51,195
Restricted stock activity	(596)		(596)
Stock option activity (in shares)		2,567
Stock option activity	(26)		(26)
Share-based compensation expense	3,077		3,077
Share repurchases (in shares)		(1,782,568)		(364)			1,782,568
Share repurchases	(50,370)		(52)	$ (36)			$ (50,282)
Preferred stock conversion (in shares)		799,615		(92,636)
Preferred stock conversion	0		9,264	$ (9,264)
Net income	12,708					12,708
Other comprehensive income, net of tax	1,572				1,572
Ending Balance (in shares) at Jun. 29, 2019		26,460,456		0			1,782,568
Ending Balance at Jun. 29, 2019	(61,186)	$ 3	83,189	$ 0	(36,855)	(57,241)	$ (50,282)
Beginning Balance (in shares) at Mar. 30, 2019		26,440,663		0			1,782,568
Beginning Balance at Mar. 30, 2019	(77,590)	$ 3	81,889	$ 0	(37,379)	(71,842)	$ (50,261)
Warrant Exercises (in shares)		17,750
Warrant exercises	204		204
Stock option activity (in shares)		2,043
Stock option activity	(20)		(20)
Share-based compensation expense	1,095		1,095
Share repurchases (in shares)		0		0			0
Share repurchases	0		21	$ 0			$ (21)
Net income	14,601					14,601
Other comprehensive income, net of tax	524				524
Ending Balance (in shares) at Jun. 29, 2019		26,460,456		0			1,782,568
Ending Balance at Jun. 29, 2019	$ (61,186)	$ 3	$ 83,189	$ 0	$ (36,855)	$ (57,241)	$ (50,282)

Nature of Business and Basis of

Nature of Business and Basis of Presentation	9 Months Ended
	Jun. 29, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business and Basis of Presentation	1. Nature of Business and Basis of Presentation Nature of Business Blue Bird Body Company, a wholly-owned subsidiary of Blue Bird Corporation, was incorporated in 1958 and has manufactured, assembled and sold school buses to a variety of municipal, federal and commercial customers since 1927. The majority of Blue Bird’s sales are made to an independent distributor network, which in turn sells buses to ultimate end users. We are headquartered in Macon, Georgia. References in these notes to financial statements to “Blue Bird”, the “Company,” “we,” “our,” or “us” refer to Blue Bird Corporation and its wholly-owned subsidiaries, unless the context specifically indicates otherwise. Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant inter-company transactions and accounts have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial reporting and Article 8 of Regulation S-X. The Company’s fiscal year ends on the Saturday closest to September 30 with its quarters consisting of thirteen weeks in most years. In fiscal year 2019 , there is a total of 52 weeks. For fiscal years 2019 and 2018 , the third quarters both included 13 weeks and the nine months ended both included 39 weeks. In the opinion of management, all adjustments considered necessary for a fair presentation of financial results have been made. Such adjustments consist of only those of a normal recurring nature. Operating results for any interim period are not necessarily indicative of the results that may be expected for the entire year. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. The Condensed Consolidated Balance Sheet data as of September 29, 2018 was derived from the Company’s audited financial statements but does not include all disclosures required by generally accepted accounting principles. For additional information, including the Company’s significant accounting policies, refer to the consolidated financial statements and related footnotes for the fiscal year ended September 29, 2018 as set forth in the Company's 2018 Form 10-K filed on December 12, 2018 . Preferred Stock Conversion On November 13, 2018, the Company converted all remaining outstanding shares of Preferred Stock, and issued 799,615 shares of Common Stock. There were no dividends paid with the conversion. Use of Estimates and Assumptions The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions. At the date of the financial statements, these estimates and assumptions affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities, and during the reporting period, these estimates and assumptions affect the reported amounts of revenues and expenses. For example, significant management judgments are required in determining excess, obsolete, or unsalable inventory, allowance for doubtful accounts, potential impairment of long-lived assets, goodwill and intangibles, the accounting for self-insurance reserves, warranty reserves, pension obligations, income taxes, environmental liabilities and contingencies. Future events and their effects cannot be predicted with certainty, and, accordingly, the Company’s accounting estimates require the exercise of judgment. The accounting estimates used in the preparation of the Company’s condensed consolidated financial statements may change as new events occur, as more experience is acquired, as additional information is obtained and as the Company’s operating environment changes. The Company evaluates and updates its assumptions and estimates on an ongoing basis and may employ outside experts to assist in the Company’s evaluations. Actual results could differ from the estimates that the Company has used.

Summary of Significant Accounti

Summary of Significant Accounting Policies and Recently Issued Accounting Standards	9 Months Ended
	Jun. 29, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies and Recently Issued Accounting Standards	2. Summary of Significant Accounting Policies and Recently Issued Accounting Standards The Company’s significant accounting policies are described in the Company’s 2018 Form 10-K, filed with the SEC on December 12, 2018 . Our senior management has reviewed these significant accounting policies and related disclosures and determined that there were no significant changes in our critical accounting policies in the nine months ended June 29, 2019 , except as follows (as also discussed in the Recently Adopted Accounting Standards section of this Note 2 ): Revenue Recognition The Company records revenue, net of tax, when the following five steps have been completed: 1. Identification of the contract(s) with a customer; 2. Identification of the performance obligation(s) in the contract; 3. Determination of the transaction price; 4. Allocation of the transaction price to the performance obligations in the contract; and 5. Recognition of revenue when, or as, we satisfy performance obligations. The Company records revenue when performance obligations are satisfied by transferring control of a promised good or service to the customer. The Company evaluates the transfer of control primarily from the customer’s perspective where the customer has the ability to direct the use of, and obtain substantially all of the remaining benefits from, that good or service. Our product revenue includes sales of buses and bus parts, each of which are generally recognized as revenue at a point in time, once all conditions for revenue recognition have been met, as they represent our performance obligations in a sale. For buses, control is generally transferred and the customer has the ability to direct the use of and obtain substantially all of the remaining benefits of the product when the product is delivered or when the product has been completed, is ready for delivery, has been paid for, its title has transferred and it is awaiting pickup by the customer. For certain bus sale transactions, we may provide incentives including payment of a limited amount of future interest charges our customers may incur related to their purchase and financing of the bus with third party financing companies. We reduce revenue at the recording date by the full amount of potential future interest we may be obligated to pay, which is an application of the "most likely amount" method. For parts sales, control is generally transferred when the customer has the ability to direct the use of and obtain substantially all of the remaining benefits of the products, which generally coincides with the point in time when the customer has assumed risk of loss and title has passed for the goods sold. The Company sells extended warranties related to its products. Revenue related to these contracts is recognized based on the stand-alone selling price of the arrangement, on a straight-line basis over the contract period, and costs thereunder are expensed as incurred. The Company includes shipping and handling revenues, which represents costs billed to customers, in net sales on the Condensed Consolidated Statements of Operations. The related costs incurred by the Company are included in cost of goods sold on the Condensed Consolidated Statements of Operations. Leases We determine if an arrangement is a lease at inception. Operating leases include lease right-of-use (“ROU”) assets, which we include in property, plant and equipment on our Condensed Consolidated Balance Sheets. The lease liabilities associated with operating leases are included in other current liabilities and other liabilities on our Condensed Consolidated Balance Sheets. We do not have any finance leases. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As the leases recorded do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The operating lease ROU asset also includes any base rental or lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense is recognized on a straight-line basis over the lease term as a component of selling, general and administrative expenses on the Condensed Consolidated Statements of Operations. Derivative Instruments In limited circumstances, we may utilize derivative instruments to manage certain exposures to changes in foreign currency exchange rates or as cash flow hedges for variable rate debt. The fair values of all derivative instruments are recognized as assets or liabilities at the balance sheet date. Changes in the fair value of these derivative instruments are recognized in our operating results or included in other comprehensive income (loss), depending on whether the derivative instrument is a fair value or cash flow hedge and whether it qualifies for hedge accounting treatment. If realized, gains and losses on derivative instruments are recognized in the operating results line item that reflects the underlying exposure that was hedged. The exchange of cash, if any, associated with derivative transactions is classified in the same category as the cash flows from the items subject to the economic hedging relationships. Statement of Cash Flows We classify distributions received from our equity method investment using the nature of distribution approach, such that distributions received are classified based on the nature of the activity of the investee that generated the distribution. Returns on investment are classified within operating activities, while returns of investment are classified within investing activities. Recently Issued Accounting Standards We believe that no new accounting guidance was issued during the three months ended June 29, 2019 that is relevant to our financial statements. Recently Adopted Accounting Standards ASU 2017-07 — In March 2017, the Financial Accounting Standards Board ("FASB") issued ASU No. 2017-07, Compensation—Retirement Benefits (Topic 715) , Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, which requires that an employer report the service cost component (if any) of pension expense in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. If a separate line item or items are used to present the other components of net benefit cost, that line item or items must be appropriately described. If a separate line item or items are not used, the line item or items used in the income statement to present the other components of net benefit cost must be disclosed. We adopted this new standard in the first quarter of fiscal 2019 on a retrospective basis, as required. There is no service cost component to our periodic pension expense. Previously all components of our pension expense were recorded as a component of operating expenses, and the new standard requires these expenses to be outside a subtotal of operating profit. As a result, we have revised previously reported results of operations, as follows: June 30, 2018 Three Months Ended Nine Months Ended (in thousands of dollars) As Previously Reported New Standard Adjustment As Restated As Previously Reported New Standard Adjustment As Restated Selling, general and administrative expenses $ 20,950 $ (461 ) $ 20,489 $ 65,609 $ (1,383 ) $ 64,226 Operating profit 16,023 461 16,484 13,680 1,383 15,063 Other expense, net (206 ) (461 ) (667 ) 984 (1,383 ) (399 ) Net income 21,891 — 21,891 15,888 — 15,888 ASU 2018-15 — In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract , which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. We adopted this standard on a prospective (applies only to eligible costs incurred after adoption) basis in the first quarter of fiscal 2019, and there was not a significant impact on our consolidated financial statements. ASU 2017-12 — In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , which intends to simplify the application of hedge accounting guidance and better align an entity's risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. The amendments expand and refine hedge accounting for both non-financial and financial risk components and align the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. We adopted this amended guidance in the first quarter of fiscal 2019 using the required modified retrospective approach; however we had no hedging relationships in effect at the adoption date that were impacted by the guidance. We do not expect the impact on the Company's consolidated financial statements to be material. ASU 2016-12 and 2016-10 — In May 2016, the FASB issued ASU No. 2016-12 , Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients , and in April 2016 issued ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing , both of which provide further clarification to be considered when implementing ASU 2014-09, Revenue from Contracts with Customers (Topic 606) . We adopted this standard in the first quarter of fiscal 2019 using the modified retrospective transition approach, which we applied to all contracts impacted by the new standard at the date of initial application. At adoption, we accounted for specific sales incentives offered to our customers by recording an increase of $0.9 million in accrued liabilities, a $0.7 million adjustment to retained earnings, and a $0.2 million deferred tax asset. Amounts recorded in prior comparative periods have not been restated and continue to be reported under the accounting standards in effect for those periods. Please see Note 8 , Revenue , for additional information regarding the adoption of this new accounting standard. ASU 2018-05 — In March 2018, the FASB issued ASU No. 2018-05, Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 , which updates income tax accounting to reflect the SEC's interpretive guidance released on December 22, 2017, when the Tax Cuts and Jobs Act (the "Tax Act") was signed into law. For more information regarding the impact of the Tax Act, see Note 5 , Income Taxes . ASU 2016-02 — In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which requires lessees to recognize assets on the balance sheet for the rights and obligations created by all leases with terms greater than 12 months. The standard will also require certain qualitative and quantitative disclosures designed to give financial statement users information on the amount, timing, and uncertainty of cash flows arising from leases. We adopted this standard in the first quarter of fiscal 2019 using the modified retrospective adoption approach with a cumulative-effect adjustment recognized on the balance sheet on the adoption date with prior periods not recast, and electing the practical expedients allowed under the standard. At adoption, we recognized right-of-use assets totaling $7.3 million and operating lease liabilities totaling $9.2 million . The impact on our results of operations and cash flows was not material. ASU 2016-15 — In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments , which made targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. We adopted this standard in the first quarter of fiscal 2019 and contemporaneous with adoption made a policy election to classify distributions received from our equity method investment using the nature of distribution approach. Adoption of the standard had no current impact on the Company's consolidated financial statements, as this is the manner in which we have recorded previous distributions from our equity method investee. There were no distributions in the nine months ended June 29, 2019 .

Supplemental Financial Informat

Supplemental Financial Information	9 Months Ended
	Jun. 29, 2019
Condensed Financial Information [Abstract]
Supplemental Financial Information	3. Supplemental Financial Information Inventories The following table presents the components of inventories at the dates indicated: (in thousands of dollars) June 29, 2019 September 29, 2018 Raw materials $ 94,452 $ 42,439 Work in process 34,730 13,141 Finished goods 11,506 1,753 Total inventories $ 140,688 $ 57,333 Product Warranties The following table reflects activity in accrued warranty cost (current and long-term portions combined) for the periods presented: Three Months Ended Nine Months Ended (in thousands of dollars) June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Balance at beginning of period $ 21,520 $ 19,283 $ 22,646 $ 20,910 Add current period accruals 3,358 3,421 7,196 7,786 Current period reductions of accrual (2,358 ) (2,853 ) (7,322 ) (8,845 ) Balance at end of period $ 22,520 $ 19,851 $ 22,520 $ 19,851 Extended Warranties The following table reflects activity in deferred warranty income (current and long-term portions combined), for the sale of extended warranties of two to five years , for the periods presented: Three Months Ended Nine Months Ended (in thousands of dollars) June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Balance at beginning of period $ 22,901 $ 20,461 $ 23,191 $ 19,295 Add current period deferred income 2,880 2,974 6,686 7,800 Current period recognition of income (2,196 ) (1,434 ) (6,292 ) (5,094 ) Balance at end of period $ 23,585 $ 22,001 $ 23,585 $ 22,001 With the adoption of ASU No. 2016-12 (as described in Note 2 , Summary of Significant Accounting Policies and Recently Issued Accounting Standards ), the outstanding balance of deferred warranty income in the table above is considered a "contract liability", and represents a performance obligation of the Company that we satisfy over the term of the arrangement but for which we have been paid in full at the time the warranty was sold. We expect to recognize $3.0 million of the outstanding contract liability during the remainder of fiscal 2019 , $7.5 million in fiscal 2020 , and the remaining balance thereafter. Self-Insurance The following table reflects our total accrued self-insurance liability, comprised of workers compensation and health insurance related claims, at the dates indicated: (in thousands of dollars) June 29, 2019 September 29, 2018 Current portion $ 2,882 $ 3,332 Long-term portion 1,757 1,901 Total accrued self-insurance $ 4,639 $ 5,233 The current and long-term portions of the accrued self-insurance liability are reflected in accrued expenses and other liabilities, respectively, on the Condensed Consolidated Balance Sheets. Shipping and Handling Revenues Shipping and handling revenues were $6.0 million and $6.5 million for the three months ended June 29, 2019 and June 30, 2018 , respectively, and $12.5 million and $13.5 million for the nine months ended June 29, 2019 and June 30, 2018 , respectively. The related cost of goods sold was $5.3 million and $5.8 million for the three months ended June 29, 2019 and June 30, 2018 , respectively, and $11.0 million and $11.7 million for the nine months ended June 29, 2019 and June 30, 2018 , respectively. Pension Expense Components of net periodic pension benefit cost were as follows for the periods presented: Three Months Ended Nine Months Ended (in thousands of dollars) June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Interest cost $ 1,512 $ 1,357 $ 4,535 $ 4,071 Expected return on plan assets (1,905 ) (1,776 ) (5,714 ) (5,328 ) Amortization of prior loss 689 880 2,068 2,640 Net periodic benefit cost $ 296 $ 461 $ 889 $ 1,383 Amortization of prior loss, recognized in other comprehensive income 689 880 2,068 2,640 Total recognized in net periodic pension benefit cost and other comprehensive income $ (393 ) $ (419 ) $ (1,179 ) $ (1,257 ) Pension expense is recognized as a component of other expense, net on our Condensed Consolidated Statement of Operations. As disclosed in Note 2 , we reclassified previously reported pension expense amounts of $0.5 million and $1.4 million from selling, general and administrative expenses to other expense, net for the three and nine months ended June 30, 2018 , respectively. Warrants At June 29, 2019 , there were a total of 820,614 warrants outstanding to purchase 410,307 shares of our Common Stock. Derivative Instruments We are charged variable rates of interest on our indebtedness outstanding under the Amended Credit Agreement (defined below) which exposes us to fluctuations in interest rates. On, October 24, 2018, the Company entered into a four -year interest rate collar with a $150.0 million notional value with an effective date of November 30, 2018. The collar was entered into in order to partially mitigate our exposure to interest rate fluctuations on our variable rate debt. The collar establishes a range where we will pay the counterparty if the three-month LIBOR rate falls below the established floor rate of 1.5% , and the counterparty will pay us if the three-month LIBOR rate exceeds the ceiling rate of 3.3% . The collar settles quarterly through the termination date of September 30, 2022. No payments or receipts are exchanged on the interest rate collar contracts unless interest rates rise above or fall below the contracted ceiling or floor rates. Changes in the interest rate collar fair value are recorded in interest expense as the collar does not qualify for hedge accounting. At June 29, 2019 , the fair value of the interest rate collar contract was $(1.1) million and is included in "other current liabilities" on the Condensed Consolidated Balance Sheets. The fair value of the interest rate collar is a Level 2 fair value measurement, based on quoted prices of similar items in active markets.

Debt

Debt	9 Months Ended
	Jun. 29, 2019
Debt Disclosure [Abstract]
Debt	4. Debt Amended Credit Agreement On September 13, 2018, the Company entered into a first amendment of our December 12, 2016 credit agreement ("Amended Credit Agreement"). The Amended Credit Agreement provided for additional funding of $50.0 million and was funded in the first quarter of fiscal 2019. Substantially all the proceeds were used to complete a tender offer to purchase shares of our common and preferred stock. The Amended Credit Agreement also increased the revolving credit facility to $100.0 million from $75.0 million . The amendment extended the maturity date to September 13, 2023, five years from the effective date of the first amendment. In connection with the Amended Credit Agreement, we incurred $2.0 million of debt discount and issuance costs, which were recorded as contra-debt and will be amortized over the life of the Amended Credit Agreement using the effective interest method. Additional Disclosures Term debt consisted of the following at the dates indicated: (in thousands of dollars) June 29, 2019 September 29, 2018 2023 and 2021 term loans, net of deferred financing costs of $3,346 and $4,011, respectively $ 185,379 $ 142,139 Less: current portion of long-term debt 9,900 9,900 Long-term debt, net of current portion $ 175,479 $ 132,239 Term loans are recognized on the Condensed Consolidated Balance Sheets at the unpaid principal balance, and are not subject to fair value measurement; however, given the variable rates on the loans, the Company estimates that the unpaid principal balance approximates fair value. If measured at fair value in the financial statements, the term loans would be classified as Level 2 in the fair value hierarchy. At June 29, 2019 and September 29, 2018 , $188.7 million and $146.2 million , respectively, were outstanding on the term loans. At June 29, 2019 and September 29, 2018 , the stated interest rates on the term loans were 4.4% and 4.5% , respectively. At June 29, 2019 and September 29, 2018 , the weighted-average annual effective interest rates for the term loans were 5.0% and 4.1% , respectively, which includes amortization of the deferred financing costs. At June 29, 2019 , $25.0 million in borrowings were outstanding on the Revolving Credit Facility and $6.9 million of Letters of Credit were outstanding; therefore, the Company would have been able to borrow $68.1 million on the revolving line of credit. Interest expense on all indebtedness was $3.4 million and $1.8 million for the three months ended June 29, 2019 and June 30, 2018 , respectively, and $10.3 million and $5.1 million for the nine months ended June 29, 2019 and June 30, 2018 , respectively. The schedules of remaining principal maturities for total debt for the next five fiscal years are as follows: (in thousands of dollars) Year Principal Payments 2019 $ 2,475 2020 9,900 2021 9,900 2022 14,850 2023 176,600 Total remaining principal payments $ 213,725

Income Taxes

Income Taxes	9 Months Ended
	Jun. 29, 2019
Income Tax Disclosure [Abstract]
Income Taxes	5. Income Taxes Income tax provisions for interim periods are based on estimated annual income tax rates, adjusted to reflect the effects of any significant infrequent or unusual items which are required to be discretely recognized within the current interim period. The effective tax rates in the periods presented are largely based upon the forecast pre-tax earnings mix and allocation of certain expenses in various taxing jurisdictions where the Company conducts its business, primarily the United States. Three Months The effective tax rate for the three month period ended June 29, 2019 was 19.1% , which differed from the 2019 statutory federal income tax rate of 21% . The difference is mainly due to normal tax rate benefit items, such as federal and state tax credits (net of valuation allowance), which were partially offset by non-deductible share-based compensation expenses and other tax adjustments. For the three month period ended June 30, 2018, we recorded a tax benefit of $8.1 million due to the lapse of statute of limitations on the underlying item that created our uncertain tax position. We also recorded a $1.7 million benefit related to the filing of our prior year tax returns. The benefit resulted from various deductions that were accelerated and reported in a higher tax rate year. The return filing also allowed us to reassess and reverse a $0.5 million valuation allowance for our foreign tax credit carryforward that had been recorded earlier in 2018. The effective tax rate for the three month period ended June 30, 2018 was (53.4)% , which significantly differed from the transitional 2018 statutory federal tax rate of 24.5% . The difference is mainly due to the above noted release of uncertain tax positions and provision to return adjustments, but the rate was also favorably impacted by normal tax rate benefit items, such as the domestic production activities deduction, state tax credits, and share based award related deductions in excess of recorded book expense. Nine Months The effective tax rate for the nine month period ended June 29, 2019 was 19.7% , which differed from the 2019 statutory federal income tax rate of 21% . The difference is mainly due to normal tax rate benefit items, primarily federal and state tax credits (net of valuation allowance), which were partially offset by non-deductible share-based compensation expenses and other tax adjustments. For the nine month period ended June 30, 2018, we recorded a tax benefit of $8.1 million due to the lapse of statute of limitations on the underlying item that created our uncertain tax position. We also recorded a $1.7 million benefit related to the filing of our prior year tax returns. The benefit resulted from various deductions that were accelerated and reported in a higher tax rate year. The return filing also allowed us to reassess and reverse a $0.5 million valuation allowance for our foreign tax credit carryforward that had been recorded earlier in 2018. The effective tax rate for the nine month period ended June 30, 2018 was (59.0)% and significantly differed from the transitional 2018 statutory federal income tax rate of 24.5% . The difference is mainly due to the above noted release of uncertain tax positions and provision to return adjustments, but was partially offset by a $2.4 million expense recorded in the prior fiscal quarter to reflect the newly enacted Tax Act. The Tax Act adjustments include resetting our deferred tax accounts to the new rates as well as $1.1 million of expense from increasing the carrying value of our uncertain tax positions, and $0.5 million of additional valuation allowance for our foreign tax credit carryforward. Of this adjustment amount, the portion relating to uncertain tax positions and valuation allowance were reversed in the current quarter. The rate was also favorably impacted by normal tax rate benefit items, such as the domestic production activities deduction, state tax credits, and share based award related deductions in excess of recorded book expense.

Guarantees, Commitments and Con

Guarantees, Commitments and Contingencies	9 Months Ended
	Jun. 29, 2019
Commitments and Contingencies Disclosure [Abstract]
Guarantees, Commitments and Contingencies	6. Guarantees, Commitments and Contingencies Litigation At June 29, 2019 , the Company had a number of product liability and other cases pending. Management believes that, considering the Company’s insurance coverage and its intention to vigorously defend its positions, the ultimate resolution of these matters will not have a material adverse effect on the Company’s financial statements. Environmental The Company is subject to a variety of environmental regulations relating to the use, storage, discharge and disposal of hazardous materials used in its manufacturing processes. Failure by the Company to comply with present and future regulations could subject it to future liabilities. In addition, such regulations could require the Company to acquire costly equipment or to incur other significant expenses to comply with environmental regulations. The Company is currently not involved in any material environmental proceedings and therefore management believes that the resolution of environmental matters will not have a material adverse effect on the Company’s financial statements. Guarantees In the ordinary course of business, we may provide guarantees for certain transactions entered into by our dealers. At June 29, 2019 , we had $3.0 million in aggregate guarantees outstanding which relate to guarantees of indebtedness for term loans with remaining maturities of up to 3.6 years . The $3.0 million represents the estimated maximum amount we would be required to pay upon default of all guaranteed indebtedness, and we believe the likelihood of required performance to be remote. At June 29, 2019 , $0.4 million was included in other current liabilities on our Condensed Consolidated Balance Sheets for the estimated fair value of the guarantees. Lease Commitments We lease office and warehouse space for use in our operations, which are accounted for as operating leases. The operating leases have remaining terms ranging from seven months to 8.4 years. One of our leases includes a renewal option to extend the lease for five years. Total operating lease expense was $0.5 million and $1.4 million for the three and nine months ended June 29, 2019 , respectively, and is recorded in selling, general and administrative expenses on the Condensed Consolidated Statements of Operations. Total rent expense was $0.2 million and $0.5 million for the three and nine months ended June 30, 2018 , respectively, and is recorded in selling, general and administrative expenses on the Condensed Consolidated Statements of Operations. Cash paid for amounts included in the measurement of lease liabilities included in operating cash flows was $1.2 million for the nine months ended June 29, 2019 . At June 29, 2019 , right-of-use assets totaling $7.3 million were included in property, plant and equipment, net, and lease liabilities totaling $1.4 million and $8.0 million were included in other current liabilities and other liabilities (non-current), respectively. At June 29, 2019 , the weighted average remaining lease term was 7.2 years and the weighted average discount rate used to calculate the present value of future lease payments was 4.5% . Maturities of operating lease liabilities at June 29, 2019 are as follows: (in thousands of dollars) Fiscal Years Ended Amount 2019 $ 589 2020 1,577 2021 1,399 2022 1,421 2023 1,441 Thereafter 4,624 Total future minimum lease payments 11,051 Less: imputed interest 1,659 Total operating lease liabilities $ 9,392

Segment Information

Segment Information	9 Months Ended
	Jun. 29, 2019
Segment Reporting [Abstract]
Segment Information	7. Segment Information We manage our business in two operating segments: (i) the Bus segment, which includes the manufacturing and assembly of buses to be sold to a variety of customers across the United States, Canada and in international markets; and (ii) the Parts segment, which consists primarily of the purchase of parts from third parties to be sold to dealers within the Company’s network. The tables below present segment net sales and gross profit for the periods presented: Net sales Three Months Ended Nine Months Ended (in thousands of dollars) June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Bus (1) $ 292,166 $ 297,653 $ 626,441 $ 647,525 Parts (1) 16,608 16,533 48,901 45,838 Segment net sales $ 308,774 $ 314,186 $ 675,342 $ 693,363 (1) Parts segment revenue includes $1.0 million and $2.5 million for the three months ended June 29, 2019 and June 30, 2018 , respectively, and $0.6 million and $1.9 million for the nine months ended June 29, 2019 and June 30, 2018 , respectively, related to inter-segment sales of parts that was eliminated by the Bus segment upon consolidation. Gross profit Three Months Ended Nine Months Ended (in thousands of dollars) June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Bus $ 35,996 $ 31,342 $ 69,653 $ 63,062 Parts 5,786 5,631 17,193 16,227 Segment gross profit $ 41,782 $ 36,973 $ 86,846 $ 79,289 The following table is a reconciliation of segment gross profit to consolidated income before income taxes for the periods presented: Three Months Ended Nine Months Ended (in thousands of dollars) June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Segment gross profit $ 41,782 $ 36,973 $ 86,846 $ 79,289 Adjustments: Selling, general and administrative expenses (20,996 ) (20,489 ) (61,197 ) (64,226 ) Interest expense (3,369 ) (1,834 ) (10,241 ) (5,112 ) Interest income — 25 9 42 Other expense, net (410 ) (667 ) (1,034 ) (399 ) Income before income taxes $ 17,007 $ 14,008 $ 14,383 $ 9,594 Sales are attributable to geographic areas based on customer location and were as follows for the periods presented: Three Months Ended Nine Months Ended (in thousands of dollars) June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 United States $ 286,499 $ 274,984 $ 629,668 $ 628,046 Canada 21,639 37,490 43,499 59,949 Rest of world 636 1,712 2,175 5,368 Total net sales $ 308,774 $ 314,186 $ 675,342 $ 693,363

Revenue

Revenue	9 Months Ended
	Jun. 29, 2019
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	8. Revenue As noted in Note 2 , Summary of Significant Accounting Policies and Recently Issued Accounting Standards , the Company adopted the new revenue recognition guidance (ASC 606) effective September 30, 2018 using the modified retrospective approach. As a result, we recognized the cumulative effect of initially applying the new revenue standard as an adjustment to the opening balance of retained earnings at September 30, 2018. Adopting the new standard primarily impacted the timing of recognition of specific sales incentives offered to our customers. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The difference in revenue recognized under the new guidance versus the previous guidance was an increase of $0.8 million for the nine months ended June 29, 2019 . Under the new guidance, at adoption, we recorded $0.9 million in accrued liabilities, a deferred tax asset of $0.2 million , and a $0.7 million retained earnings adjustment. Under previous guidance, we would not have recorded any accrued liabilities or deferred tax assets resulting in no retained earnings impact to our Condensed Consolidated Balance Sheets. The following table disaggregates revenue by product category for the periods presented: Three Months Ended Nine Months Ended (in thousands of dollars) June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Diesel buses $ 135,246 $ 191,355 $ 335,553 $ 427,353 Alternative fuel buses (1) 141,939 96,189 260,340 201,067 Other (2) 15,486 10,593 32,061 20,577 Parts 16,103 16,049 47,388 44,366 Net sales $ 308,774 $ 314,186 $ 675,342 $ 693,363 (1) Includes buses sold with any fuel source other than diesel (e.g. gasoline, propane, CNG, electric). (2) Includes shipping and handling revenue, extended warranty income, chassis and bus shell sales.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Jun. 29, 2019
Earnings Per Share [Abstract]
Earnings Per Share	9. Earnings Per Share The following table presents the earnings per share computation for the periods presented: Three Months Ended Nine Months Ended (in thousands except for share data) June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Numerator: Net income $ 14,601 $ 21,891 $ 12,708 $ 15,888 Less: convertible preferred stock dividends — 182 — 1,715 Net income available to common stockholders $ 14,601 $ 21,709 $ 12,708 $ 14,173 Basic earnings per share (1): Weighted average common shares outstanding 26,451,107 26,209,697 26,449,751 24,677,838 Basic earnings per share $ 0.55 $ 0.83 $ 0.48 $ 0.57 Diluted earnings per share (2): Weighted average common shares outstanding 26,451,107 26,209,697 26,449,751 24,677,838 Weighted average dilutive securities, convertible preferred stock — 1,471,902 131,979 — Weighted average dilutive securities, restricted stock 94 687 29,149 24,403 Weighted average dilutive securities, warrants 150,292 607,532 178,290 836,932 Weighted average dilutive securities, stock options 118,617 267,096 131,116 270,318 Weighted average shares and dilutive potential common shares 26,720,110 28,556,914 26,920,285 25,809,491 Diluted earnings per share $ 0.55 $ 0.77 $ 0.47 $ 0.55 (1) Basic earnings per share is calculated by dividing income available to common stockholders by the weighted average common shares outstanding during the period. (2) For the nine months ended June 30, 2018 , 2,791,468 shares of convertible preferred stock were excluded from the dilutive calculation as the if-converted impact would be anti-dilutive.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Jun. 29, 2019
Equity [Abstract]
Accumulated Other Comprehensive Loss	10. Accumulated Other Comprehensive Loss The following table provides information on changes in accumulated other comprehensive loss for the periods presented: Three Months Ended Nine Months Ended (in thousands of dollars) Defined Benefit Pension Plan Total Defined Benefit Pension Plan Total June 29, 2019 Beginning Balance $ (37,379 ) $ (37,379 ) $ (38,427 ) $ (38,427 ) Amounts reclassified from other comprehensive loss and included in earnings 689 689 2,068 2,068 Total other comprehensive income, before taxes 689 689 2,068 2,068 Income tax expense (165 ) (165 ) (496 ) (496 ) Ending Balance June 29, 2019 $ (36,855 ) $ (36,855 ) $ (36,855 ) $ (36,855 ) June 30, 2018 Beginning Balance $ (42,643 ) $ (42,643 ) $ (43,875 ) $ (43,875 ) Amounts reclassified from other comprehensive loss and included in earnings 880 880 2,640 2,640 Total other comprehensive income, before taxes 880 880 2,640 2,640 Income tax expense (211 ) (211 ) (739 ) (739 ) Ending Balance June 30, 2018 $ (41,974 ) $ (41,974 ) $ (41,974 ) $ (41,974 )

Nature of Business and Basis _2

Nature of Business and Basis of Presentation (Policies)	9 Months Ended
	Jun. 29, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant inter-company transactions and accounts have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial reporting and Article 8 of Regulation S-X. The Company’s fiscal year ends on the Saturday closest to September 30 with its quarters consisting of thirteen weeks in most years. In fiscal year 2019 , there is a total of 52 weeks. For fiscal years 2019 and 2018 , the third quarters both included 13 weeks and the nine months ended both included 39 weeks. In the opinion of management, all adjustments considered necessary for a fair presentation of financial results have been made. Such adjustments consist of only those of a normal recurring nature. Operating results for any interim period are not necessarily indicative of the results that may be expected for the entire year. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. The Condensed Consolidated Balance Sheet data as of September 29, 2018 was derived from the Company’s audited financial statements but does not include all disclosures required by generally accepted accounting principles. For additional information, including the Company’s significant accounting policies, refer to the consolidated financial statements and related footnotes for the fiscal year ended September 29, 2018 as set forth in the Company's 2018 Form 10-K filed on December 12, 2018 .
Use of Estimates and Assumptions	Use of Estimates and Assumptions The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions. At the date of the financial statements, these estimates and assumptions affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities, and during the reporting period, these estimates and assumptions affect the reported amounts of revenues and expenses. For example, significant management judgments are required in determining excess, obsolete, or unsalable inventory, allowance for doubtful accounts, potential impairment of long-lived assets, goodwill and intangibles, the accounting for self-insurance reserves, warranty reserves, pension obligations, income taxes, environmental liabilities and contingencies. Future events and their effects cannot be predicted with certainty, and, accordingly, the Company’s accounting estimates require the exercise of judgment. The accounting estimates used in the preparation of the Company’s condensed consolidated financial statements may change as new events occur, as more experience is acquired, as additional information is obtained and as the Company’s operating environment changes. The Company evaluates and updates its assumptions and estimates on an ongoing basis and may employ outside experts to assist in the Company’s evaluations. Actual results could differ from the estimates that the Company has used.
Revenue Recognition	Revenue Recognition The Company records revenue, net of tax, when the following five steps have been completed: 1. Identification of the contract(s) with a customer; 2. Identification of the performance obligation(s) in the contract; 3. Determination of the transaction price; 4. Allocation of the transaction price to the performance obligations in the contract; and 5. Recognition of revenue when, or as, we satisfy performance obligations. The Company records revenue when performance obligations are satisfied by transferring control of a promised good or service to the customer. The Company evaluates the transfer of control primarily from the customer’s perspective where the customer has the ability to direct the use of, and obtain substantially all of the remaining benefits from, that good or service. Our product revenue includes sales of buses and bus parts, each of which are generally recognized as revenue at a point in time, once all conditions for revenue recognition have been met, as they represent our performance obligations in a sale. For buses, control is generally transferred and the customer has the ability to direct the use of and obtain substantially all of the remaining benefits of the product when the product is delivered or when the product has been completed, is ready for delivery, has been paid for, its title has transferred and it is awaiting pickup by the customer. For certain bus sale transactions, we may provide incentives including payment of a limited amount of future interest charges our customers may incur related to their purchase and financing of the bus with third party financing companies. We reduce revenue at the recording date by the full amount of potential future interest we may be obligated to pay, which is an application of the "most likely amount" method. For parts sales, control is generally transferred when the customer has the ability to direct the use of and obtain substantially all of the remaining benefits of the products, which generally coincides with the point in time when the customer has assumed risk of loss and title has passed for the goods sold. The Company sells extended warranties related to its products. Revenue related to these contracts is recognized based on the stand-alone selling price of the arrangement, on a straight-line basis over the contract period, and costs thereunder are expensed as incurred. The Company includes shipping and handling revenues, which represents costs billed to customers, in net sales on the Condensed Consolidated Statements of Operations. The related costs incurred by the Company are included in cost of goods sold on the Condensed Consolidated Statements of Operations.
Leases	Leases We determine if an arrangement is a lease at inception. Operating leases include lease right-of-use (“ROU”) assets, which we include in property, plant and equipment on our Condensed Consolidated Balance Sheets. The lease liabilities associated with operating leases are included in other current liabilities and other liabilities on our Condensed Consolidated Balance Sheets. We do not have any finance leases. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As the leases recorded do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The operating lease ROU asset also includes any base rental or lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense is recognized on a straight-line basis over the lease term as a component of selling, general and administrative expenses on the Condensed Consolidated Statements of Operations.
Derivative Instruments	Derivative Instruments In limited circumstances, we may utilize derivative instruments to manage certain exposures to changes in foreign currency exchange rates or as cash flow hedges for variable rate debt. The fair values of all derivative instruments are recognized as assets or liabilities at the balance sheet date. Changes in the fair value of these derivative instruments are recognized in our operating results or included in other comprehensive income (loss), depending on whether the derivative instrument is a fair value or cash flow hedge and whether it qualifies for hedge accounting treatment. If realized, gains and losses on derivative instruments are recognized in the operating results line item that reflects the underlying exposure that was hedged. The exchange of cash, if any, associated with derivative transactions is classified in the same category as the cash flows from the items subject to the economic hedging relationships.
Statement of Cash Flows	Statement of Cash Flows We classify distributions received from our equity method investment using the nature of distribution approach, such that distributions received are classified based on the nature of the activity of the investee that generated the distribution. Returns on investment are classified within operating activities, while returns of investment are classified within investing activities.
Recently Issued Accounting Standards and Recently Adopted Accounting Standards	Recently Issued Accounting Standards We believe that no new accounting guidance was issued during the three months ended June 29, 2019 that is relevant to our financial statements. Recently Adopted Accounting Standards ASU 2017-07 — In March 2017, the Financial Accounting Standards Board ("FASB") issued ASU No. 2017-07, Compensation—Retirement Benefits (Topic 715) , Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, which requires that an employer report the service cost component (if any) of pension expense in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. If a separate line item or items are used to present the other components of net benefit cost, that line item or items must be appropriately described. If a separate line item or items are not used, the line item or items used in the income statement to present the other components of net benefit cost must be disclosed. We adopted this new standard in the first quarter of fiscal 2019 on a retrospective basis, as required. There is no service cost component to our periodic pension expense. Previously all components of our pension expense were recorded as a component of operating expenses, and the new standard requires these expenses to be outside a subtotal of operating profit. As a result, we have revised previously reported results of operations, as follows: June 30, 2018 Three Months Ended Nine Months Ended (in thousands of dollars) As Previously Reported New Standard Adjustment As Restated As Previously Reported New Standard Adjustment As Restated Selling, general and administrative expenses $ 20,950 $ (461 ) $ 20,489 $ 65,609 $ (1,383 ) $ 64,226 Operating profit 16,023 461 16,484 13,680 1,383 15,063 Other expense, net (206 ) (461 ) (667 ) 984 (1,383 ) (399 ) Net income 21,891 — 21,891 15,888 — 15,888 ASU 2018-15 — In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract , which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. We adopted this standard on a prospective (applies only to eligible costs incurred after adoption) basis in the first quarter of fiscal 2019, and there was not a significant impact on our consolidated financial statements. ASU 2017-12 — In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , which intends to simplify the application of hedge accounting guidance and better align an entity's risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. The amendments expand and refine hedge accounting for both non-financial and financial risk components and align the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. We adopted this amended guidance in the first quarter of fiscal 2019 using the required modified retrospective approach; however we had no hedging relationships in effect at the adoption date that were impacted by the guidance. We do not expect the impact on the Company's consolidated financial statements to be material. ASU 2016-12 and 2016-10 — In May 2016, the FASB issued ASU No. 2016-12 , Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients , and in April 2016 issued ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing , both of which provide further clarification to be considered when implementing ASU 2014-09, Revenue from Contracts with Customers (Topic 606) . We adopted this standard in the first quarter of fiscal 2019 using the modified retrospective transition approach, which we applied to all contracts impacted by the new standard at the date of initial application. At adoption, we accounted for specific sales incentives offered to our customers by recording an increase of $0.9 million in accrued liabilities, a $0.7 million adjustment to retained earnings, and a $0.2 million deferred tax asset. Amounts recorded in prior comparative periods have not been restated and continue to be reported under the accounting standards in effect for those periods. Please see Note 8 , Revenue , for additional information regarding the adoption of this new accounting standard. ASU 2018-05 — In March 2018, the FASB issued ASU No. 2018-05, Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 , which updates income tax accounting to reflect the SEC's interpretive guidance released on December 22, 2017, when the Tax Cuts and Jobs Act (the "Tax Act") was signed into law. For more information regarding the impact of the Tax Act, see Note 5 , Income Taxes . ASU 2016-02 — In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which requires lessees to recognize assets on the balance sheet for the rights and obligations created by all leases with terms greater than 12 months. The standard will also require certain qualitative and quantitative disclosures designed to give financial statement users information on the amount, timing, and uncertainty of cash flows arising from leases. We adopted this standard in the first quarter of fiscal 2019 using the modified retrospective adoption approach with a cumulative-effect adjustment recognized on the balance sheet on the adoption date with prior periods not recast, and electing the practical expedients allowed under the standard. At adoption, we recognized right-of-use assets totaling $7.3 million and operating lease liabilities totaling $9.2 million . The impact on our results of operations and cash flows was not material. ASU 2016-15 — In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments , which made targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. We adopted this standard in the first quarter of fiscal 2019 and contemporaneous with adoption made a policy election to classify distributions received from our equity method investment using the nature of distribution approach. Adoption of the standard had no current impact on the Company's consolidated financial statements, as this is the manner in which we have recorded previous distributions from our equity method investee. There were no distributions in the nine months ended June 29, 2019 .

Summary of Significant Accoun_2

Summary of Significant Accounting Policies and Recently Issued Accounting Standards Summary of Significant Policies (Tables)	9 Months Ended
	Jun. 29, 2019
Accounting Policies [Abstract]
Schedule of Previously Reported Results of Operations	As a result, we have revised previously reported results of operations, as follows: June 30, 2018 Three Months Ended Nine Months Ended (in thousands of dollars) As Previously Reported New Standard Adjustment As Restated As Previously Reported New Standard Adjustment As Restated Selling, general and administrative expenses $ 20,950 $ (461 ) $ 20,489 $ 65,609 $ (1,383 ) $ 64,226 Operating profit 16,023 461 16,484 13,680 1,383 15,063 Other expense, net (206 ) (461 ) (667 ) 984 (1,383 ) (399 ) Net income 21,891 — 21,891 15,888 — 15,888

Supplemental Financial Inform_2

Supplemental Financial Information (Tables)	9 Months Ended
	Jun. 29, 2019
Condensed Financial Information [Abstract]
Inventories	The following table presents the components of inventories at the dates indicated: (in thousands of dollars) June 29, 2019 September 29, 2018 Raw materials $ 94,452 $ 42,439 Work in process 34,730 13,141 Finished goods 11,506 1,753 Total inventories $ 140,688 $ 57,333
Product Warranties	The following table reflects activity in accrued warranty cost (current and long-term portions combined) for the periods presented: Three Months Ended Nine Months Ended (in thousands of dollars) June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Balance at beginning of period $ 21,520 $ 19,283 $ 22,646 $ 20,910 Add current period accruals 3,358 3,421 7,196 7,786 Current period reductions of accrual (2,358 ) (2,853 ) (7,322 ) (8,845 ) Balance at end of period $ 22,520 $ 19,851 $ 22,520 $ 19,851 Extended Warranties The following table reflects activity in deferred warranty income (current and long-term portions combined), for the sale of extended warranties of two to five years , for the periods presented: Three Months Ended Nine Months Ended (in thousands of dollars) June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Balance at beginning of period $ 22,901 $ 20,461 $ 23,191 $ 19,295 Add current period deferred income 2,880 2,974 6,686 7,800 Current period recognition of income (2,196 ) (1,434 ) (6,292 ) (5,094 ) Balance at end of period $ 23,585 $ 22,001 $ 23,585 $ 22,001
Self-Insurance	The following table reflects our total accrued self-insurance liability, comprised of workers compensation and health insurance related claims, at the dates indicated: (in thousands of dollars) June 29, 2019 September 29, 2018 Current portion $ 2,882 $ 3,332 Long-term portion 1,757 1,901 Total accrued self-insurance $ 4,639 $ 5,233
Pension Expense	Components of net periodic pension benefit cost were as follows for the periods presented: Three Months Ended Nine Months Ended (in thousands of dollars) June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Interest cost $ 1,512 $ 1,357 $ 4,535 $ 4,071 Expected return on plan assets (1,905 ) (1,776 ) (5,714 ) (5,328 ) Amortization of prior loss 689 880 2,068 2,640 Net periodic benefit cost $ 296 $ 461 $ 889 $ 1,383 Amortization of prior loss, recognized in other comprehensive income 689 880 2,068 2,640 Total recognized in net periodic pension benefit cost and other comprehensive income $ (393 ) $ (419 ) $ (1,179 ) $ (1,257 )

Debt (Tables)

Debt (Tables)	9 Months Ended
	Jun. 29, 2019
Debt Disclosure [Abstract]
Schedule of Term Debt Instruments	Term debt consisted of the following at the dates indicated: (in thousands of dollars) June 29, 2019 September 29, 2018 2023 and 2021 term loans, net of deferred financing costs of $3,346 and $4,011, respectively $ 185,379 $ 142,139 Less: current portion of long-term debt 9,900 9,900 Long-term debt, net of current portion $ 175,479 $ 132,239
Schedule of Maturities of Long-term Debt	The schedules of remaining principal maturities for total debt for the next five fiscal years are as follows: (in thousands of dollars) Year Principal Payments 2019 $ 2,475 2020 9,900 2021 9,900 2022 14,850 2023 176,600 Total remaining principal payments $ 213,725

Guarantees, Commitments and C_2

Guarantees, Commitments and Contingencies Guarantees, Commitments and Contingencies (Tables)	9 Months Ended
	Jun. 29, 2019
Commitments and Contingencies Disclosure [Abstract]
Schedule of Maturities of Operating Leases (Lessee)	Maturities of operating lease liabilities at June 29, 2019 are as follows: (in thousands of dollars) Fiscal Years Ended Amount 2019 $ 589 2020 1,577 2021 1,399 2022 1,421 2023 1,441 Thereafter 4,624 Total future minimum lease payments 11,051 Less: imputed interest 1,659 Total operating lease liabilities $ 9,392

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Jun. 29, 2019
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The tables below present segment net sales and gross profit for the periods presented: Net sales Three Months Ended Nine Months Ended (in thousands of dollars) June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Bus (1) $ 292,166 $ 297,653 $ 626,441 $ 647,525 Parts (1) 16,608 16,533 48,901 45,838 Segment net sales $ 308,774 $ 314,186 $ 675,342 $ 693,363 (1) Parts segment revenue includes $1.0 million and $2.5 million for the three months ended June 29, 2019 and June 30, 2018 , respectively, and $0.6 million and $1.9 million for the nine months ended June 29, 2019 and June 30, 2018 , respectively, related to inter-segment sales of parts that was eliminated by the Bus segment upon consolidation. Gross profit Three Months Ended Nine Months Ended (in thousands of dollars) June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Bus $ 35,996 $ 31,342 $ 69,653 $ 63,062 Parts 5,786 5,631 17,193 16,227 Segment gross profit $ 41,782 $ 36,973 $ 86,846 $ 79,289
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table is a reconciliation of segment gross profit to consolidated income before income taxes for the periods presented: Three Months Ended Nine Months Ended (in thousands of dollars) June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Segment gross profit $ 41,782 $ 36,973 $ 86,846 $ 79,289 Adjustments: Selling, general and administrative expenses (20,996 ) (20,489 ) (61,197 ) (64,226 ) Interest expense (3,369 ) (1,834 ) (10,241 ) (5,112 ) Interest income — 25 9 42 Other expense, net (410 ) (667 ) (1,034 ) (399 ) Income before income taxes $ 17,007 $ 14,008 $ 14,383 $ 9,594
Revenue from External Customers by Geographic Areas	Sales are attributable to geographic areas based on customer location and were as follows for the periods presented: Three Months Ended Nine Months Ended (in thousands of dollars) June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 United States $ 286,499 $ 274,984 $ 629,668 $ 628,046 Canada 21,639 37,490 43,499 59,949 Rest of world 636 1,712 2,175 5,368 Total net sales $ 308,774 $ 314,186 $ 675,342 $ 693,363

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Jun. 29, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table disaggregates revenue by product category for the periods presented: Three Months Ended Nine Months Ended (in thousands of dollars) June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Diesel buses $ 135,246 $ 191,355 $ 335,553 $ 427,353 Alternative fuel buses (1) 141,939 96,189 260,340 201,067 Other (2) 15,486 10,593 32,061 20,577 Parts 16,103 16,049 47,388 44,366 Net sales $ 308,774 $ 314,186 $ 675,342 $ 693,363 (1) Includes buses sold with any fuel source other than diesel (e.g. gasoline, propane, CNG, electric). (2) Includes shipping and handling revenue, extended warranty income, chassis and bus shell sales

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Jun. 29, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table presents the earnings per share computation for the periods presented: Three Months Ended Nine Months Ended (in thousands except for share data) June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Numerator: Net income $ 14,601 $ 21,891 $ 12,708 $ 15,888 Less: convertible preferred stock dividends — 182 — 1,715 Net income available to common stockholders $ 14,601 $ 21,709 $ 12,708 $ 14,173 Basic earnings per share (1): Weighted average common shares outstanding 26,451,107 26,209,697 26,449,751 24,677,838 Basic earnings per share $ 0.55 $ 0.83 $ 0.48 $ 0.57 Diluted earnings per share (2): Weighted average common shares outstanding 26,451,107 26,209,697 26,449,751 24,677,838 Weighted average dilutive securities, convertible preferred stock — 1,471,902 131,979 — Weighted average dilutive securities, restricted stock 94 687 29,149 24,403 Weighted average dilutive securities, warrants 150,292 607,532 178,290 836,932 Weighted average dilutive securities, stock options 118,617 267,096 131,116 270,318 Weighted average shares and dilutive potential common shares 26,720,110 28,556,914 26,920,285 25,809,491 Diluted earnings per share $ 0.55 $ 0.77 $ 0.47 $ 0.55 (1) Basic earnings per share is calculated by dividing income available to common stockholders by the weighted average common shares outstanding during the period. (2) For the nine months ended June 30, 2018 , 2,791,468 shares of convertible preferred stock were excluded from the dilutive calculation as the if-converted impact would be anti-dilutive.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Jun. 29, 2019
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table provides information on changes in accumulated other comprehensive loss for the periods presented: Three Months Ended Nine Months Ended (in thousands of dollars) Defined Benefit Pension Plan Total Defined Benefit Pension Plan Total June 29, 2019 Beginning Balance $ (37,379 ) $ (37,379 ) $ (38,427 ) $ (38,427 ) Amounts reclassified from other comprehensive loss and included in earnings 689 689 2,068 2,068 Total other comprehensive income, before taxes 689 689 2,068 2,068 Income tax expense (165 ) (165 ) (496 ) (496 ) Ending Balance June 29, 2019 $ (36,855 ) $ (36,855 ) $ (36,855 ) $ (36,855 ) June 30, 2018 Beginning Balance $ (42,643 ) $ (42,643 ) $ (43,875 ) $ (43,875 ) Amounts reclassified from other comprehensive loss and included in earnings 880 880 2,640 2,640 Total other comprehensive income, before taxes 880 880 2,640 2,640 Income tax expense (211 ) (211 ) (739 ) (739 ) Ending Balance June 30, 2018 $ (41,974 ) $ (41,974 ) $ (41,974 ) $ (41,974 )

Nature of Business and Basis _3

Nature of Business and Basis of Presentation - Preferred Stock Conversion (Details)	Nov. 13, 2018shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Convertible preferred stock, shares issued upon conversion (in shares)	799,615

Summary of Significant Accoun_3

Summary of Significant Accounting Policies and Recently Issued Accounting Standards Summary Significant Accounting Policies - Impact of ASU Adoption (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Selling, general and administrative expenses	$ 20,996	$ 20,489	$ 61,197	$ 64,226
Operating profit	20,786	16,484	25,649	15,063
Other expense, net	(410)	(667)	(1,034)	(399)
Net income	$ 14,601	21,891	$ 12,708	15,888
As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Selling, general and administrative expenses		20,950		65,609
Operating profit		16,023		13,680
Other expense, net		(206)		984
Net income		21,891		15,888
Accounting Standards Update 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Selling, general and administrative expenses		(461)		(1,383)
Operating profit		461		1,383
Other expense, net		(461)		(1,383)
Net income		$ 0		$ 0

Summary of Significant Accoun_4

Summary of Significant Accounting Policies and Recently Issued Accounting Standards Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Sep. 30, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Operating lease, right-of-use asset	$ 7,300	$ 7,300
Operating lease, liability	$ 9,392	9,200
Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Adoption of new revenue recognition standard (ASC 606) adjustment		(714)
Accounting Standards Update 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Accrued liabilities		900
Adoption of new revenue recognition standard (ASC 606) adjustment		700
Deferred tax assets		$ 200

Supplemental Financial Inform_3

Supplemental Financial Information - Inventories (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Sep. 29, 2018
Condensed Financial Information [Abstract]
Raw materials	$ 94,452	$ 42,439
Work in process	34,730	13,141
Finished goods	11,506	1,753
Total inventories	$ 140,688	$ 57,333

Supplemental Financial Inform_4

Supplemental Financial Information - Product Warranty Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 21,520	$ 19,283	$ 22,646	$ 20,910
Add current period accruals	3,358	3,421	7,196	7,786
Current period reductions of accrual	(2,358)	(2,853)	(7,322)	(8,845)
Balance at end of period	$ 22,520	$ 19,851	$ 22,520	$ 19,851

Supplemental Financial Inform_5

Supplemental Financial Information - Extended Warranty Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Movement in Extended Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 22,901	$ 20,461	$ 23,191	$ 19,295
Add current period deferred income	2,880	2,974	6,686	7,800
Current period recognition of income	(2,196)	(1,434)	(6,292)	(5,094)
Balance at end of period	$ 23,585	$ 22,001	$ 23,585	$ 22,001

Supplemental Financial Inform_6

Supplemental Financial Information Remaining Performance Obligation (Details) $ in Millions	Jun. 29, 2019USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-09-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 3
Revenue, performance obligation, (in years)	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-09-29
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 7.5
Revenue, performance obligation, (in years)	1 year

Supplemental Financial Inform_7

Supplemental Financial Information - Self Insurance (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Sep. 29, 2018
Condensed Financial Information [Abstract]
Current portion	$ 2,882	$ 3,332
Long-term portion	1,757	1,901
Total accrued self-insurance	$ 4,639	$ 5,233

Supplemental Financial Inform_8

Supplemental Financial Information - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Product Warranty Liability [Line Items]
Shipping and handling revenues	$ 6	$ 6.5	$ 12.5	$ 13.5
Shipping and handling cost of goods sold	$ 5.3	$ 5.8	$ 11	$ 11.7
Warrants outstanding (in shares)	820,614		820,614
Common stock shares that may be called by warrants (in shares)	410,307		410,307
Minimum
Product Warranty Liability [Line Items]
Extended product warranty, period			2 years
Maximum
Product Warranty Liability [Line Items]
Extended product warranty, period			5 years

Supplemental Financial Inform_9

Supplemental Financial Information - Pension Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Condensed Financial Information [Abstract]
Interest cost	$ 1,512	$ 1,357	$ 4,535	$ 4,071
Expected return on plan assets	(1,905)	(1,776)	(5,714)	(5,328)
Amortization of prior loss	689	880	2,068	2,640
Net periodic benefit cost	296	461	889	1,383
Amortization of prior loss, recognized in other comprehensive income	689	880	2,068	2,640
Total recognized in net periodic pension benefit cost and other comprehensive income	(393)	(419)	(1,179)	(1,257)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Selling, general and administrative expenses	(20,996)	(20,489)	(61,197)	(64,226)
Other expense, net	$ 410	667	$ 1,034	399
Accounting Standards Update 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Selling, general and administrative expenses		461		1,383
Other expense, net		$ 461		$ 1,383

Supplemental Financial Infor_10

Supplemental Financial Information Supplemental Financial Information - Derivative Instruments (Details) - USD ($) $ in Millions	Nov. 30, 2018	Jun. 29, 2019
Condensed Financial Information [Abstract]
Interest rate collar	4 years
Derivative, notional amount	$ 150
Floor interest rate	1.50%
Ceiling interest rate	3.30%
Fair value of interest rate contract		$ (1.1)

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Thousands	Sep. 13, 2018	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018	Sep. 29, 2018
Debt Instrument [Line Items]
Interest expense		$ 3,400	$ 1,800	$ 10,300	$ 5,100
Senior Term Loan | Senior Credit Facility
Debt Instrument [Line Items]
Long-term line of credit		$ 188,700		$ 188,700		$ 146,200
Stated interest rate (as a percent)		4.40%		4.40%		4.50%
Weighted average effective interest rate (as a percent)		5.00%		5.00%		4.10%
Revolving Credit Facility | Credit Facility | Senior Revolving Credit Facility
Debt Instrument [Line Items]
Long-term line of credit		$ 25,000		$ 25,000
Letters of Credit | Credit Facility | Credit Agreement [Member]
Debt Instrument [Line Items]
Proceeds from Lines of Credit				50,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 75,000	100,000		100,000
Debt Instrument, Debt Default, Amount	5 years
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	$ 2,000
Letters of Credit | Credit Facility | Senior Revolving Credit Facility
Debt Instrument [Line Items]
Letters of credit, amount outstanding		6,900		6,900
Remaining borrowing capacity		$ 68,100		$ 68,100

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Sep. 29, 2018
Debt Instrument [Line Items]
Current portion of long-term debt	$ 9,900	$ 9,900
Long-term debt	175,479	132,239
Senior Term Loan | 2021 Term Loan
Debt Instrument [Line Items]
Total debt	185,379	142,139
Deferred financing costs	$ 3,346	$ 4,011

Debt - Maturity Schedule (Detai

Debt - Maturity Schedule (Details) $ in Thousands	Jun. 29, 2019USD ($)
Long-term Debt, Fiscal Year Maturity
2019	$ 2,475
2020	9,900
2021	9,900
2022	14,850
2023	176,600
Total debt	$ 213,725

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Effective tax rate (as a percent)	19.10%	(53.40%)	19.70%	(59.00%)
Statutory Federal income tax rate (as a percent)	21.00%	24.50%	21.00%	24.50%
Income tax benefit, due to lapse of statute of limitations		$ 8.1		$ 8.1
Benefit related to prior year tax returns		1.7		1.7
Additional valuation allowance		$ 0.5		0.5
Income tax expense to reflect U.S. Tax reform				2.4
Increase in uncertain tax position				$ 1.1

Guarantees, Commitments and C_3

Guarantees, Commitments and Contingencies Gaurantees, Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Maximum exposure of guarantor	$ 3		$ 3
Guarantor obligations, term			P3Y7M0D
Fair value of guarantees	$ 0.4		$ 0.4
Lessee, Lease, Description [Line Items]
Renewal term	5 years		5 years
Operating lease expense	$ 0.5		$ 1.4
Operating leases, rent expense		$ 0.2		$ 0.5
Operating lease liabilities included in cash flows			1.2
Operating lease, right-of-use asset	7.3		7.3		$ 7.3
Operating lease, liability, current	1.4		1.4
Operating lease, liability, non-current	$ 8		$ 8
Weighted average lease term	7 years 2 months		7 years 2 months
Weighted average discount rate, percent	4.50%		4.50%
Minimum
Lessee, Lease, Description [Line Items]
Operating lease term	7 months		7 months
Maximum
Lessee, Lease, Description [Line Items]
Operating lease term	8 years 5 months		8 years 5 months

Guarantees, Commitments and C_4

Guarantees, Commitments and Contingencies Guarantees, Commitments and Contingencies (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
2019	$ 589
2020	1,577
2021	1,399
2022	1,421
2023	1,441
Thereafter	4,624
Total future minimum lease payments	11,051
Less: imputed interest	1,659
Total operating lease liabilities	$ 9,392	$ 9,200

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 29, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 29, 2019USD ($)segment	Jun. 30, 2018USD ($)
Segment Reporting Information [Line Items]
Number of Operating Segments | segment			2
Net sales	$ 308,774	$ 314,186	$ 675,342	$ 693,363
Gross profit	41,782	36,973	86,846	79,289
United States
Segment Reporting Information [Line Items]
Net sales	286,499	274,984	629,668	628,046
Canada
Segment Reporting Information [Line Items]
Net sales	21,639	37,490	43,499	59,949
Rest of world
Segment Reporting Information [Line Items]
Net sales	636	1,712	2,175	5,368
Operating Segments
Segment Reporting Information [Line Items]
Gross profit	41,782	36,973	86,846	79,289
Operating Segments | Bus (1)
Segment Reporting Information [Line Items]
Net sales	292,166	297,653	626,441	647,525
Gross profit	35,996	31,342	69,653	63,062
Operating Segments | Parts (1)
Segment Reporting Information [Line Items]
Net sales	16,608	16,533	48,901	45,838
Gross profit	5,786	5,631	17,193	16,227
Intersegment Eliminations | Parts (1)
Segment Reporting Information [Line Items]
Net sales	$ 1,000	$ 2,500	$ 600	$ 1,900

Segment Information - Reconcili

Segment Information - Reconciliation of Segment Gross Profit (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment gross profit	$ 41,782	$ 36,973	$ 86,846	$ 79,289
Selling, general and administrative expenses	(20,996)	(20,489)	(61,197)	(64,226)
Interest expense	(3,369)	(1,834)	(10,241)	(5,112)
Interest income	0	25	9	42
Other expense, net	(410)	(667)	(1,034)	(399)
Income before income taxes	17,007	14,008	14,383	9,594
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment gross profit	41,782	36,973	86,846	79,289
Segment Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Selling, general and administrative expenses	(20,996)	(20,489)	(61,197)	(64,226)
Interest expense	(3,369)	(1,834)	(10,241)	(5,112)
Interest income	0	25	9	42
Other expense, net	$ (410)	$ (667)	$ (1,034)	$ (399)

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 308,774	$ 314,186	$ 675,342	$ 693,363
Diesel buses
Disaggregation of Revenue [Line Items]
Net sales	135,246	191,355	335,553	427,353
Alternative Fuel Buses
Disaggregation of Revenue [Line Items]
Net sales	141,939	96,189	260,340	201,067
Other
Disaggregation of Revenue [Line Items]
Net sales	15,486	10,593	32,061	20,577
Parts (1)
Disaggregation of Revenue [Line Items]
Net sales	$ 16,103	$ 16,049	47,388	$ 44,366
Accounting Standards Update 2014-09
Disaggregation of Revenue [Line Items]
Adoption of new revenue recognition standard (ASC 606) adjustment					$ (714)
Accounting Standards Update 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606
Disaggregation of Revenue [Line Items]
Accrued liabilities					900
Deferred tax assets					200
Adoption of new revenue recognition standard (ASC 606) adjustment					$ 700
Net sales			$ 800

Earnings Per Share - Summary of

Earnings Per Share - Summary of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income	$ 14,601	$ 21,891	$ 12,708	$ 15,888
Less: convertible preferred stock dividends	0	182	0	1,715
Net income available to common stockholders	$ 14,601	$ 21,709	$ 12,708	$ 14,173
Weighted average common shares outstanding (in shares)	26,451,107	26,209,697	26,449,751	24,677,838
Basic earnings per share (in dollars per share)	$ 0.55	$ 0.83	$ 0.48	$ 0.57
Weighted average dilutive securities, convertible preferred stock	0	1,471,902	131,979	0
Weighted average dilutive securities, warrants	150,292	607,532	178,290	836,932
Diluted weighted average shares outstanding	26,720,110	28,556,914	26,920,285	25,809,491
Diluted earnings per share (in dollars per share)	$ 0.55	$ 0.77	$ 0.47	$ 0.55
Restricted Stock [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted average dilutive securities, share based compensation	94	687	29,149	24,403
Options
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted average dilutive securities, share based compensation	118,617	267,096	131,116	270,318

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details)	9 Months Ended
	Jun. 30, 2018shares
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from computation of earnings per share (in shares)	2,791,468

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance			$ (28,336)
Ending Balance	$ (61,186)		(61,186)
Total AOCI
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(37,379)	$ (42,643)	(38,427)	$ (43,875)
Amounts reclassified from other comprehensive income and included in earnings	689	880	2,068	2,640
Total amount recognized in other comprehensive loss	689	880	2,068	2,640
Income tax expense	(165)	(211)	(496)	(739)
Ending Balance	(36,855)	(41,974)	(36,855)	(41,974)
Defined Benefit Pension Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(37,379)	(42,643)	(38,427)	(43,875)
Amounts reclassified from other comprehensive income and included in earnings	689	880	2,068	2,640
Total amount recognized in other comprehensive loss	689	880	2,068	2,640
Income tax expense	(165)	(211)	(496)	(739)
Ending Balance	$ (36,855)	$ (41,974)	$ (36,855)	$ (41,974)

Uncategorized Items - blbd-2019

Label	Element	Value
Accounting Standards Update 2014-09 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (714,000)