Skyworks Solutions (SWKS) 10-Q 6 May 15 2015 Q2 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	6 Months Ended
	Apr. 03, 2015	1-May-15
Document and Entity Information [Abstract]
Entity Registrant Name	Skyworks Solutions, Inc.
Entity Central Index Key	4127
Document Type	10-Q
Document Period End Date	3-Apr-15
Amendment Flag	FALSE
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	8
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		191,098,414

Consolidated_Statements_Of_Ope

Consolidated Statements Of Operations (USD $)	3 Months Ended		6 Months Ended
In Millions, except Per Share data, unless otherwise specified	Apr. 03, 2015	Mar. 28, 2014	Apr. 03, 2015	Mar. 28, 2014
Income Statement [Abstract]
Net revenue	$762.10	$481	$1,567.60	$986.20
Cost of goods sold	409.9	268.6	842.4	551.8
Gross profit	352.2	212.4	725.2	434.4
Operating expenses:
Research and development	75.5	61.6	144	120
Selling, general and administrative	47.4	41.9	95.3	83
Amortization of intangibles	8.3	6.3	16.8	12.8
Restructuring and other charges	1.1	0	2.4	0
Total operating expenses	132.3	109.8	258.5	215.8
Operating income	219.9	102.6	466.7	218.6
Other income (expense), net	0.6	-0.1	1.3	-0.1
Income before income taxes	220.5	102.5	468	218.5
Provision for income taxes	54	25.6	106.3	47.1
Net income	$166.50	$76.90	$361.70	$171.40
Earnings per share:
Basic (in dollars per share)	$0.88	$0.41	$1.91	$0.92
Diluted (in dollars per share)	$0.85	$0.40	$1.86	$0.89
Weighted average shares:
Basic (in shares)	189.9	187.4	189.3	186.8
Diluted (in shares)	195.2	192.2	194.7	191.7
Cash dividends declared and paid per share (usd per share)	$0.13	$0	$0.26	$0

Consolidated_Statement_of_Comp

Consolidated Statement of Comprehensive Income (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Apr. 03, 2015	Mar. 28, 2014	Apr. 03, 2015	Mar. 28, 2014
Statement of Comprehensive Income [Abstract]
Net income	$166.50	$76.90	$361.70	$171.40
Other comprehensive income, net of tax
Foreign currency translation adjustment	0.8	0	-3	0
Comprehensive income	$167.30	$76.90	$358.70	$171.40

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Apr. 03, 2015	Oct. 03, 2014
In Millions, unless otherwise specified
Current assets:
Cash and cash equivalents	$1,054.20	$805.80
Receivables, net of allowance for doubtful accounts of $0.4 and $0.8, respectively	277.1	317.6
Inventory	276.2	270.8
Other current assets	71.4	35
Total current assets	1,678.90	1,429.20
Property, plant and equipment, net	655.8	555.9
Goodwill	851	851
Intangible assets, net	58.2	75
Deferred tax assets, net	54.6	50.8
Other assets	14.7	11.9
Total assets	3,313.20	2,973.80
Current liabilities:
Accounts payable	231	200.6
Accrued compensation and benefits	57.8	70.7
Other current liabilities	9.8	26.3
Total current liabilities	298.6	297.6
Long-term tax liabilities	48.6	41.6
Other long-term liabilities	102.5	102.2
Total liabilities	449.7	441.4
Commitments and contingencies (Note 8)
Stockholders’ equity:
Preferred stock, no par value: 25.0 shares authorized, no shares issued	0	0
Common stock, $0.25 par value; 525.0 shares authorized; 218.0 shares issued and 191.0 shares outstanding as of April 3, 2015, and 214.2 shares issued and 189.2 shares outstanding as of October 3, 2014	47.8	47.3
Additional paid-in capital	2,399	2,248.20
Treasury stock, at cost	-682.3	-553.1
Retained earnings	1,106.90	794.9
Accumulated other comprehensive loss	-7.9	-4.9
Total stockholders’ equity	2,863.50	2,532.40
Total liabilities and stockholders’ equity	$3,313.20	$2,973.80

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Apr. 03, 2015	Oct. 03, 2014
In Millions, except Share data, unless otherwise specified
Current assets:
Allowance for Doubtful Accounts Receivable, Current	$0.40	$0.80
Stockholders' Equity Attributable to Parent [Abstract]
Preferred Stock, No Par Value	$0	$0
Preferred Stock, Shares Authorized	25,000,000	25,000,000
Preferred Stock, Shares Issued	0	0
Common Stock, Par or Stated Value Per Share	$0.25	$0.25
Common Stock, Shares Authorized	525,000,000	525,000,000
Common Stock, Shares, Issued	218,000,000	214,200,000
Common Stock, Shares, Outstanding	191,000,000	189,200,000

Consolidated_Statements_Of_Cas

Consolidated Statements Of Cash Flows (USD $)	6 Months Ended
In Millions, unless otherwise specified	Apr. 03, 2015	Mar. 28, 2014
Cash flows from operating activities:
Net income	$361.70	$171.40
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation	48.4	39.6
Depreciation	74.5	42.4
Amortization of intangible assets	16.8	12.8
Contribution of common shares to savings and retirement plans	11.2	8.7
Deferred income taxes	-3.7	-0.8
Excess tax benefit from share-based compensation	-40.7	-23.9
Other	0.7	0.4
Changes in assets and liabilities net of acquired balances:
Receivables, net	40.5	76.4
Inventory	-4.9	12.6
Other current and long-term assets	-23.6	8.5
Accounts payable	30.4	-0.7
Other current and long-term liabilities	26.9	25.6
Net cash provided by operating activities	538.2	373
Cash flows from investing activities:
Capital expenditures	-171.2	-58.2
Payments for acquisitions, net of cash acquired	-18.1	0
Net cash used in investing activities	-189.3	-58.2
Cash flows from financing activities:
Excess tax benefit from share-based compensation	40.7	23.9
Repurchase of common stock - payroll tax withholding on equity awards	-50.1	-18.6
Repurchase of common stock - stock repurchase program	-79.1	-78.6
Dividends paid	-49.3	0
Net proceeds from exercise of stock options	37.3	45.2
Net cash used in financing activities	-100.5	-28.1
Net increase in cash and cash equivalents	248.4	286.7
Cash and cash equivalents at beginning of period	805.8	511.1
Cash and cash equivalents at end of period	1,054.20	797.8
Supplemental cash flow disclosures:
Income taxes paid	$69.20	$23.30

Description_Of_Business_and_Ba

Description Of Business and Basis Of Presentation	6 Months Ended
	Apr. 03, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION
	Skyworks Solutions, Inc. together with its consolidated subsidiaries, (“Skyworks” or the “Company”) is empowering the wireless networking revolution, connecting virtually everyone and everything, all the time. The Company’s highly innovative analog semiconductors are linking people, places, and things spanning a number of new and previously unimagined applications within automotive, broadband, cellular infrastructure, the connected home, industrial, medical, military, smartphone, tablet and wearable markets.
	The accompanying unaudited interim consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial reporting. Certain information and footnote disclosures, normally included in annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), have been condensed or omitted pursuant to those rules and regulations. However, in management’s opinion, the financial information reflects all adjustments, including those of a normal recurring nature, necessary to present fairly the results of operations, financial position, and cash flows of the Company for the periods presented. The results of operations, financial position, and cash flows for the Company during the interim periods are not necessarily indicative of those expected for the full year. This information should be read in conjunction with the Company’s financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the fiscal year ended October 3, 2014, filed with the SEC on November 25, 2014, as amended by Amendment No. 1 to such Annual Report on Form 10-K, filed with the SEC on February 2, 2015 (the “2014 10-K”).
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts of assets, liabilities, revenue, expenses, comprehensive income and accumulated other comprehensive loss that are reported in these unaudited consolidated financial statements and accompanying disclosures. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. Significant judgment is required in determining the recognition and/or disclosure of reserves for and fair value of items such as inventory, income taxes, share-based compensation, loss contingencies, subsequent events (which the Company has evaluated through the date of issuance of these unaudited consolidated financial statements), bad debt allowances, intangible assets associated with business combinations, and overall fair value assessments of assets and liabilities, particularly those classified as Level 2 or Level 3 in the fair value hierarchy. In addition, significant judgment is required in determining whether a potential indicator of impairment of long-lived assets exists and in estimating future cash flows for any necessary impairment tests. Actual results could differ significantly from these estimates.
	The Company’s fiscal year ends on the Friday closest to September 30. Fiscal year 2015 consists of 52 weeks and ends on October 2, 2015. Fiscal year 2014 consisted of 53 weeks and ended on October 3, 2014. The second quarters of fiscal year 2015 and fiscal year 2014 each consisted of 13 weeks and ended on April 3, 2015, and March 28, 2014, respectively.

Business_Combinations

Business Combinations	6 Months Ended
	Apr. 03, 2015
Business Combinations [Abstract]
Business Combinations	BUSINESS COMBINATIONS
	On August 1, 2014, the Company entered into a joint venture, referred to as FilterCo, with Panasonic Corporation (“Panasonic”) with respect to the design, manufacture and sale of Panasonic’s surface acoustic wave (“SAW”) and temperature-compensated SAW filter products. The Company acquired a controlling 66% interest in FilterCo with the right to acquire from Panasonic and Panasonic’s right to sell to the Company (collectively the “purchase option”) the remaining 34% interest in FilterCo upon the second anniversary of the acquisition. As a result of the purchase option the Company consolidates 100% of FilterCo’s operations. During the six months ended April 3, 2015, Panasonic identified and contributed an additional $7.5 million of fixed assets related to filter production as well as additional employee related liabilities to FilterCo. The Company and Panasonic agreed upon these additional amounts during the six months ended April 3, 2015, and accordingly the working capital adjustment was increased by $7.2 million, which resulted in the total fair value for FilterCo increasing to $240.4 million. These changes did not impact the preliminary determination of goodwill for the six months ended April 3, 2015. The Company considers the allocation of purchase price preliminary and subject to change within the measurement period of up to one year from the date of the acquisition.
	As of April 3, 2015, the Company finalized and paid Panasonic $18.1 million related to the working capital adjustment for the FilterCo acquisition. This adjustment had previously been accrued in the consolidated financial statements.

Fair_Value

Fair Value	6 Months Ended
	Apr. 03, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE	FAIR VALUE
	The Company groups its financial assets and liabilities measured at fair value on a recurring basis in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are:
	•	Level 1 - Quoted prices in active markets for identical assets or liabilities.
	•	Level 2 - Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets with insufficient volume or infrequent transactions (less active markets), or model-driven valuations in which all significant inputs are observable or can be derived principally from, or corroborated with, observable market data.
	•	Level 3 - Fair value is derived from valuation techniques in which one or more significant inputs are unobservable, including assumptions and judgments made by the Company.
	Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis
	The Company measures certain assets and liabilities at fair value on a recurring basis such as our financial instruments and derivatives. There have been no transfers between Level 1, 2 or 3 assets or liabilities during the three and six months ended April 3, 2015.
	Level 3 assets include an auction rate security which is classified as available for sale and recorded in other long-term assets, scheduled to mature in 2017. Due to the illiquid market for this security the Company has classified the carrying value as a Level 3 asset with the difference between the par and carrying value being categorized as a temporary loss and recorded in accumulated other comprehensive loss.
	Following the two-year anniversary of the Company entering into the joint venture with Panasonic, the purchase option can be exercised by either the Company or Panasonic and although the settlement amount of the purchase option is fixed, it contains a foreign exchange adjustment (“foreign exchange collar”). In the event the exchange rate between the United States dollar and the Japanese yen fluctuates outside of a predetermined range upon the exercise of the purchase option, the total amount the Company owes to Panasonic can change. This feature was intended for the parties to share in foreign exchange exposure outside of this predetermined range. The Company calculated the present value of this obligation as of August 1, 2014, the date the joint venture was formed, and included that amount in its preliminary determination of goodwill using unobservable inputs and management judgment, therefore categorizing the obligation as a level 3 liability. The difference between the calculated present value and the fixed settlement amount is being accreted to earnings ratably over the remaining purchase option period. The carrying value of this liability is included in other long-term liabilities on the consolidated balance sheet as of April 3, 2015.
	The Company holds currency call and put options (“foreign currency options”) that are intended to hedge the potential cash exposure related to fluctuations in the exchange rate between the United States dollar and Japanese yen related to the foreign exchange collar. The Company nets the fair value of the foreign currency options and the fair value of the foreign exchange collar separately as either a long-term asset or liability with the total change in fair value being recorded to earnings each period. The Company measures the fair value of these derivatives using current spot rates and assumptions such as yield curves and option volatilities. As of April 3, 2015, these derivatives have been netted on the consolidated balance sheet and classified as Level 3 assets and liabilities accordingly. The net change in fair value had a de minimis impact to the consolidated results.
	As of April 3, 2015, assets and liabilities recorded at fair value on a recurring basis consisted of the following (in millions):
				Fair Value Measurements
		Total		Quoted Prices in Active Markets for Identical Assets		Significant		Significant Unobservable Inputs
				(Level 1)		Other		(Level 3)
						Observable Inputs
						(Level 2)
	Assets
	Money market funds	$	524.5	$	524.5	$	—	$	—
	Auction rate security	2.3		—		—		2.3
	Foreign currency derivative asset	3.3		—		—		3.3
	Total	$	530.1	$	524.5	$	—	$	5.6
	Liabilities
	Purchase obligation recorded for business combinations	$	74.6	$	—	$	—	$	74.6
	Foreign currency derivative liability	3		—		—		3
	Total	$	77.6	$	—	$	—	$	77.6
	The following table summarizes changes to the fair value of the Level 3 assets (in millions):
		Auction rate security		Foreign currency derivative
	Balance as of October 3, 2014	$	2.3	$	0.7
	Changes in fair value included in earnings	—		2.6
	Balance as of April 3, 2015	$	2.3	$	3.3
	The following table summarizes changes to the fair value of the Level 3 liabilities (in millions):
		Purchase obligation		Foreign currency derivative
	Balance as of October 3, 2014	$	74	$	0.7
	Changes in fair value included in earnings	0.6		2.3
	Balance as of April 3, 2015	$	74.6	$	3
	Assets Measured and Recorded at Fair Value on a Nonrecurring Basis
	The Company’s non-financial assets and liabilities, such as goodwill, intangible assets, and other long-lived assets resulting from business combinations are measured at fair value using income approach valuation methodologies at the date of acquisition and subsequently re-measured if there are indicators of impairment. There were no indicators of impairment identified during the three and six months ended April 3, 2015.

Inventory

Inventory	6 Months Ended
	Apr. 03, 2015
Inventory, Net [Abstract]
INVENTORY	INVENTORY
	Inventory consists of the following (in millions):
		As of
		April 3,		October 3,
		2015		2014
	Raw materials	$	24.9	$	45.4
	Work-in-process	149		145.9
	Finished goods	92.5		71.3
	Finished goods held on consignment by customers	9.8		8.2
	Total inventory	$	276.2	$	270.8

Property_Plant_And_Equipment

Property, Plant And Equipment	6 Months Ended
	Apr. 03, 2015
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT
	Property, plant and equipment, net consists of the following (in millions):
		As of
		April 3,			October 3,
		2015			2014
	Land and improvements	$	11.6		$	11.6
	Buildings and improvements	94.6			90.7
	Furniture and fixtures	24.9			26.9
	Machinery and equipment	1,083.00			952.9
	Construction in progress	131.3			95
	Total property, plant and equipment, gross	1,345.40			1,177.10
	Accumulated depreciation	(689.6		)	(621.2		)
	Total property, plant and equipment, net	$	655.8		$	555.9

Goodwill_And_Intangible_Assets

Goodwill And Intangible Assets	6 Months Ended
	Apr. 03, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS
	There were no changes to the carrying amount of goodwill during the three and six months ended April 3, 2015.
	The Company tests its goodwill and non-amortizing trademarks for impairment annually as of the first day of its fourth fiscal quarter and in interim periods if certain events occur indicating the carrying value of goodwill or non-amortizing trademarks may be impaired. There were no indicators of impairment noted during the three and six months ended April 3, 2015.
	Intangible assets consist of the following (in millions):
			As of										As of
		Weighted	April 3, 2015										October 3, 2014
		Average
		Amortization
		Period Remaining (Years)	Gross			Accumulated				Net			Gross			Accumulated				Net
			Carrying			Amortization				Carrying			Carrying Amount			Amortization				Carrying
			Amount							Amount										Amount
	Customer relationships	1.5	$	57.2		$	(44.2	)		$	13		$	57.2		$	(39.4	)		$	17.8
	Developed technology and other	2.1	96.2			(52.6		)		43.6			96.2			(40.6		)		55.6
	Trademarks	Indefinite	1.6			—				1.6			1.6			—				1.6
	Total intangible assets		$	155		$	(96.8	)		$	58.2		$	155		$	(80.0	)		$	75
	The gross carrying value and associated accumulated amortization for the intangible assets were reduced for the write-down of fully amortized in-process research and development assets that were acquired in prior years. This write-down of gross intangible assets did not impact the net carrying value of intangibles as of April 3, 2015.
	Annual amortization expense for the next five years related to intangible assets is expected to be as follows (in millions):
		Remaining 2015			2016				2017			2018			2019				Thereafter
	Amortization expense	$	16.4		$	28.3			$	11.9		$	—		$	—			$	—

Income_Taxes

Income Taxes	6 Months Ended
	Apr. 03, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES
	Income tax provision consists of the following components (in millions):
		Three Months Ended						Six Months Ended
		April 3,			March 28,			April 3,			March 28,
		2015			2014			2015			2014
	United States income taxes	$	49.6		$	24.1		$	98.1		$	47.8
	Foreign income taxes	4.4			1.5			8.2			(0.7		)
	Provision for income taxes	$	54		$	25.6		$	106.3		$	47.1
	Effective tax rate	24.5		%	25		%	22.7		%	21.6		%
	The difference between the Company’s effective tax rate and the 35% United States federal statutory rate for the three and six months ended April 3, 2015, resulted primarily from foreign earnings taxed at rates lower than the federal statutory rate, the domestic production activities deduction, and research and experimentation tax credits earned, partially offset by an increase in the Company’s tax expense related to a change in the Company’s reserve for uncertain tax positions.
	In December 2014, the United States Congress enacted the Tax Increase Prevention Act of 2014, extending numerous tax provisions which had expired through the end of calendar year 2014. As a result of the enactment of this legislation, $7.0 million of federal research and experimentation tax credits which were earned in fiscal year 2014 reduced the Company’s tax expense and tax rate during the six months ended April 3, 2015.
	The federal tax credit available under the Internal Revenue Code for research and development expenses expired on December 31, 2014. As of April 3, 2015, the United States Congress had not taken action to extend the research and experimentation tax credit. Accordingly, the income tax provision for the three and six months ended April 3, 2015 reflects the impact of research and experimentation tax credits earned only before December 31, 2014.
	The Company’s federal income tax returns for fiscal years 2012 and 2013 are currently under examination by the Internal Revenue Service, and various state and international returns are under examination by their respective taxing authorities. The Company does not expect the results of these audits to have a material impact on its tax expense, financial position, results of operations, or cash flows.
	The difference between the Company’s effective tax rate and the 35% United States federal statutory rate for the three and six months ended March 28, 2014, resulted primarily from foreign earnings taxed at rates lower than the federal statutory rate, the domestic production activities deduction, and a tax benefit related to an adjustment to the Company’s deferred taxes in Mexico as a result of a change in Mexican tax law, partially offset by an increase in the Company’s tax expense related to a change in the Company’s reserve for uncertain tax positions.
	In December 2013, Mexico enacted a comprehensive tax reform package, which became effective on January 1, 2014. As a result of this change, the Company adjusted its deferred taxes in that jurisdiction, resulting in the recognition of a tax benefit that reduced the Company’s foreign income tax expense by $4.5 million for the six months ended March 28, 2014.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Apr. 03, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES
	Legal Matters
	From time to time, various lawsuits, claims and proceedings have been, and may in the future be, instituted or asserted against the Company, including those pertaining to patent infringement, intellectual property, environmental hazards, product liability and warranty, safety and health, employment and contractual matters.
	The semiconductor industry is characterized by vigorous protection and pursuit of intellectual property rights. From time to time, third parties have asserted and may in the future assert patent, copyright, trademark and other intellectual property rights to technologies that are important to the Company’s business and have demanded and may in the future demand that the Company license their technology. The outcome of any such litigation cannot be predicted with certainty and some such lawsuits, claims or proceedings may be disposed of unfavorably to the Company. Generally speaking, intellectual property disputes often have a risk of injunctive relief, which, if imposed against the Company, could materially and adversely affect the Company’s financial condition, or results of operations. From time to time the Company may also be involved in legal proceedings in the ordinary course of business. Legal costs are expensed as incurred.
	The Company monitors the status of legal proceedings and other contingencies on an ongoing basis to ensure amounts are recognized and/or disclosed in our financial statements and footnotes as required by Accounting Standards Codification 450, Loss Contingencies. At the time of this filing, the Company had not recorded any accrual for loss contingencies associated with its legal proceedings as losses resulting from such matters were determined not to be probable. The Company does not believe there are any pending legal proceedings that are reasonably possible to result in a material loss. We are engaged in various legal actions in the normal course of business and, while there can be no assurances, the Company believes the outcome of all pending litigation involving the Company will not have, individually or in the aggregate, a material adverse effect on its business.
	Guarantees and Indemnifications
	The Company has made no contractual guarantees for the benefit of third parties. However, the Company generally indemnifies its customers from third-party intellectual property infringement litigation claims related to its products, and, on occasion, also provides other indemnities related to product sales. In connection with certain facility leases, the Company has indemnified its lessors for certain claims arising from the facility or the lease.
	The Company indemnifies its directors and officers to the maximum extent permitted under the laws of the state of Delaware. The duration of the indemnities varies, and in many cases is indefinite. The indemnities to customers in connection with product sales generally are subject to limits based upon the amount of the related product sales and in many cases are subject to geographic and other restrictions. In certain instances, the Company’s indemnities do not provide for any limitation of the maximum potential future payments the Company could be obligated to make. As of April 3, 2015, the Company had not recorded any liability for these indemnities in the accompanying consolidated balance sheets. The Company continues to monitor and reassess indemnities each reporting period.

Stockholders_Equity

Stockholder's Equity	6 Months Ended
	Apr. 03, 2015
Stockholders' Equity Note [Abstract]
Stockholder's Equity	STOCKHOLDERS' EQUITY
	Stock Repurchase Program
	On November 11, 2014, the Board of Directors approved a stock repurchase program, pursuant to which the Company is authorized to repurchase up to $300.0 million of the Company’s common stock from time to time on the open market or in privately negotiated transactions, as permitted by securities laws and other legal requirements. During the three months ended April 3, 2015, the Company paid $48.1 million (including commissions) in connection with the repurchase of 0.6 million shares of its common stock (paying an average price of $80.12 per share). During the six months ended April 3, 2015, the Company paid $79.1 million (including commissions) in connection with the repurchase of 1.1 million shares of its common stock (paying an average price of $71.90 per share). As of April 3, 2015, $220.9 million remained available under the existing stock repurchase authorization.
	Dividends
	On April 30, 2015, the Company announced that the Board of Directors had declared a cash dividend on its common stock of $0.13 per share, payable on June 4, 2015, to the Company’s stockholders of record as of the close of business on May 14, 2015. During the three and six months ended April 3, 2015, dividends charged to retained earnings were as follows (in millions, except per share data):
		Per share		Total
	First quarter	$	0.13	$	24.7
	Second quarter	0.13		24.9
	Total	$	0.26	$	49.6

Earnings_Per_Share

Earnings Per Share	6 Months Ended
	Apr. 03, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE
	(In millions, except per share amounts)	Three Months Ended				Six Months Ended
		April 3,		March 28,		April 3,		March 28,
		2015		2014		2015		2014
	Net income	$	166.5	$	76.9	$	361.7	$	171.4
	Weighted average shares outstanding – basic	189.9		187.4		189.3		186.8
	Dilutive effect of equity based awards	5.3		4.8		5.4		4.9
	Weighted average shares outstanding – diluted	195.2		192.2		194.7		191.7
	Net income per share – basic	$	0.88	$	0.41	$	1.91	$	0.92
	Net income per share – diluted	$	0.85	$	0.4	$	1.86	$	0.89
	Anti-dilutive common stock equivalents	0.1		1.6		0.6		1.7
	Basic earnings per share are calculated by dividing net income by the weighted average number of shares of the Company’s common stock outstanding. The calculation of diluted earnings per share includes the dilutive effect of equity based awards that were outstanding during the three and six months ended April 3, 2015, and March 28, 2014, using the treasury stock method. Certain of the Company’s outstanding stock options, noted in the table above, were excluded because they were anti-dilutive, but they could become dilutive in the future.

Restructuring_and_Other_Charge

Restructuring and Other Charges	6 Months Ended
	Apr. 03, 2015
Restructuring and Related Activities [Abstract]
RESTRUCTURING AND OTHER CHARGES	RESTRUCTURING AND OTHER CHARGES
	The Company incurred severance-related charges associated with a restructuring program initiated during the three and six months ended April 3, 2015. This restructuring plan is anticipated to be completed within a year of the start of the program and the Company does not anticipate any future material charges under this plan. The severance charges have been included under the “Other restructuring” line item in the summary table below.
	The following tables present a summary of the Company’s restructuring activity (in millions):
	Three months ended April 3, 2015	Balance at January 2, 2015		Current Charges		Cash Payments			Other		Balance at April 3, 2015
	FY13 restructuring programs
	Employee severance costs	$	0.3	$	—	$	(0.1	)	$	—	0.2
	Other restructuring
	Employee severance costs	1.1		1.1		(1.1		)	—		1.1
	Lease and other contractual obligations	0.2		—		(0.1		)	—		0.1
	Total	$	1.6	$	1.1	$	(1.3	)	$	—	$	1.4
	Six months ended April 3, 2015	Balance at October 3, 2014		Current Charges		Cash Payments			Other		Balance at April 3, 2015
	FY13 restructuring programs
	Employee severance costs	$	0.3	$	—	$	(0.1	)	$	—	0.2
	Other restructuring
	Employee severance costs	—		2.4		(1.3		)	—		1.1
	Lease and other contractual obligations	0.2		—		(0.1		)	—		0.1
	Total	$	0.5	$	2.4	$	(1.5	)	$	—	$	1.4

Fair_Value_Tables

Fair Value (Tables)	6 Months Ended
	Apr. 03, 2015
Fair Value Disclosures [Abstract]
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis	As of April 3, 2015, assets and liabilities recorded at fair value on a recurring basis consisted of the following (in millions):
				Fair Value Measurements
		Total		Quoted Prices in Active Markets for Identical Assets		Significant		Significant Unobservable Inputs
				(Level 1)		Other		(Level 3)
						Observable Inputs
						(Level 2)
	Assets
	Money market funds	$	524.5	$	524.5	$	—	$	—
	Auction rate security	2.3		—		—		2.3
	Foreign currency derivative asset	3.3		—		—		3.3
	Total	$	530.1	$	524.5	$	—	$	5.6
	Liabilities
	Purchase obligation recorded for business combinations	$	74.6	$	—	$	—	$	74.6
	Foreign currency derivative liability	3		—		—		3
	Total	$	77.6	$	—	$	—	$	77.6
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following table summarizes changes to the fair value of the Level 3 assets (in millions):
		Auction rate security		Foreign currency derivative
	Balance as of October 3, 2014	$	2.3	$	0.7
	Changes in fair value included in earnings	—		2.6
	Balance as of April 3, 2015	$	2.3	$	3.3
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table summarizes changes to the fair value of the Level 3 liabilities (in millions):
		Purchase obligation		Foreign currency derivative
	Balance as of October 3, 2014	$	74	$	0.7
	Changes in fair value included in earnings	0.6		2.3
	Balance as of April 3, 2015	$	74.6	$	3

Inventory_Tables

Inventory (Tables)	6 Months Ended
	Apr. 03, 2015
Inventory, Net [Abstract]
Schedule Of Inventories	Inventory consists of the following (in millions):
		As of
		April 3,		October 3,
		2015		2014
	Raw materials	$	24.9	$	45.4
	Work-in-process	149		145.9
	Finished goods	92.5		71.3
	Finished goods held on consignment by customers	9.8		8.2
	Total inventory	$	276.2	$	270.8

Property_Plant_and_Equipment_T

Property, Plant and Equipment (Tables)	6 Months Ended
	Apr. 03, 2015
Property, Plant and Equipment [Abstract]
Schedule Of Property, Plant And Equipment	Property, plant and equipment, net consists of the following (in millions):
		As of
		April 3,			October 3,
		2015			2014
	Land and improvements	$	11.6		$	11.6
	Buildings and improvements	94.6			90.7
	Furniture and fixtures	24.9			26.9
	Machinery and equipment	1,083.00			952.9
	Construction in progress	131.3			95
	Total property, plant and equipment, gross	1,345.40			1,177.10
	Accumulated depreciation	(689.6		)	(621.2		)
	Total property, plant and equipment, net	$	655.8		$	555.9

Recovered_Sheet1

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Apr. 03, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets Excluding Goodwill	Intangible assets consist of the following (in millions):
			As of										As of
		Weighted	April 3, 2015										October 3, 2014
		Average
		Amortization
		Period Remaining (Years)	Gross			Accumulated				Net			Gross			Accumulated				Net
			Carrying			Amortization				Carrying			Carrying Amount			Amortization				Carrying
			Amount							Amount										Amount
	Customer relationships	1.5	$	57.2		$	(44.2	)		$	13		$	57.2		$	(39.4	)		$	17.8
	Developed technology and other	2.1	96.2			(52.6		)		43.6			96.2			(40.6		)		55.6
	Trademarks	Indefinite	1.6			—				1.6			1.6			—				1.6
	Total intangible assets		$	155		$	(96.8	)		$	58.2		$	155		$	(80.0	)		$	75
Schedule Of Expected Annual Amortization Expense Related To Intangible Assets For The Next Five Years	Annual amortization expense for the next five years related to intangible assets is expected to be as follows (in millions):
		Remaining 2015			2016				2017			2018			2019				Thereafter
	Amortization expense	$	16.4		$	28.3			$	11.9		$	—		$	—			$	—

Income_Taxes_Tables

Income Taxes (Tables)	6 Months Ended
	Apr. 03, 2015
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	Income tax provision consists of the following components (in millions):
		Three Months Ended						Six Months Ended
		April 3,			March 28,			April 3,			March 28,
		2015			2014			2015			2014
	United States income taxes	$	49.6		$	24.1		$	98.1		$	47.8
	Foreign income taxes	4.4			1.5			8.2			(0.7		)
	Provision for income taxes	$	54		$	25.6		$	106.3		$	47.1
	Effective tax rate	24.5		%	25		%	22.7		%	21.6		%

Stockholders_Equity_Dividends_

Stockholder's Equity Dividends (Tables)	6 Months Ended
	Apr. 03, 2015
Dividends [Abstract]
Dividends Declared	During the three and six months ended April 3, 2015, dividends charged to retained earnings were as follows (in millions, except per share data):
		Per share		Total
	First quarter	$	0.13	$	24.7
	Second quarter	0.13		24.9
	Total	$	0.26	$	49.6

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	6 Months Ended
	Apr. 03, 2015
Earnings Per Share [Abstract]
Schedule Of Earnings Per Share
	(In millions, except per share amounts)	Three Months Ended				Six Months Ended
		April 3,		March 28,		April 3,		March 28,
		2015		2014		2015		2014
	Net income	$	166.5	$	76.9	$	361.7	$	171.4
	Weighted average shares outstanding – basic	189.9		187.4		189.3		186.8
	Dilutive effect of equity based awards	5.3		4.8		5.4		4.9
	Weighted average shares outstanding – diluted	195.2		192.2		194.7		191.7
	Net income per share – basic	$	0.88	$	0.41	$	1.91	$	0.92
	Net income per share – diluted	$	0.85	$	0.4	$	1.86	$	0.89
	Anti-dilutive common stock equivalents	0.1		1.6		0.6		1.7

Restructuring_and_Other_Charge1

Restructuring and Other Charges (Tables)	6 Months Ended
	Apr. 03, 2015
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	The following tables present a summary of the Company’s restructuring activity (in millions):
	Three months ended April 3, 2015	Balance at January 2, 2015		Current Charges		Cash Payments			Other		Balance at April 3, 2015
	FY13 restructuring programs
	Employee severance costs	$	0.3	$	—	$	(0.1	)	$	—	0.2
	Other restructuring
	Employee severance costs	1.1		1.1		(1.1		)	—		1.1
	Lease and other contractual obligations	0.2		—		(0.1		)	—		0.1
	Total	$	1.6	$	1.1	$	(1.3	)	$	—	$	1.4
	Six months ended April 3, 2015	Balance at October 3, 2014		Current Charges		Cash Payments			Other		Balance at April 3, 2015
	FY13 restructuring programs
	Employee severance costs	$	0.3	$	—	$	(0.1	)	$	—	0.2
	Other restructuring
	Employee severance costs	—		2.4		(1.3		)	—		1.1
	Lease and other contractual obligations	0.2		—		(0.1		)	—		0.1
	Total	$	0.5	$	2.4	$	(1.5	)	$	—	$	1.4

Description_Of_Business_and_Ba1

Description Of Business and Basis Of Presentation (Details)	6 Months Ended
	Apr. 03, 2015	Mar. 28, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fiscal Period Number of Weeks In Fiscal Year	1 year	1 year 7 days
Fiscal Period Number of Weeks in Fiscal Quarter	3 months	3 months

Business_Combinations_Details_

Business Combinations Details (Details) (FilterCo [Member], USD $)	0 Months Ended	6 Months Ended
In Millions, unless otherwise specified	Aug. 01, 2014	Apr. 03, 2015	Aug. 01, 2014
FilterCo [Member]
Business Acquisition [Line Items]
Date of acquisition agreement	1-Aug-14
Percent of voting rights to be acquired	66.00%		66.00%
Noncontrolling interest in joint ventures	34.00%		34.00%
Percent to be consolidated	100.00%
Property, plant and equipment acquired		$7.50
Working capital increase		7.2
Cash paid for acquisition		240.4
Business combination accrued working capital adjustment		$18.10

Fair_Value_Schedule_Of_Financi

Fair Value (Schedule Of Financial Instruments Measured At Fair Value On Recurring Basis) (Details) (Fair Value, Measurements, Recurring [Member], USD $)	Apr. 03, 2015	Oct. 03, 2014
In Millions, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	$524.50
Auction rate security	2.3
Foreign currency derivative asset	3.3
Total	530.1
Purchase obligation recorded for business combinations	74.6
Foreign currency derivative liability	3
Total	77.6
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	524.5
Auction rate security	0
Foreign currency derivative asset	0
Total	524.5
Purchase obligation recorded for business combinations	0
Foreign currency derivative liability	0
Total	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	0
Auction rate security	0
Foreign currency derivative asset	0
Total	0
Purchase obligation recorded for business combinations	0
Foreign currency derivative liability	0
Total	0
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	0
Auction rate security	2.3	2.3
Foreign currency derivative asset	3.3	0.7
Total	5.6
Purchase obligation recorded for business combinations	74.6	74
Foreign currency derivative liability	3	0.7
Total	$77.60

Fair_Value_Fair_Value_Assets_M

Fair Value Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation (Details) (Fair Value, Measurements, Recurring [Member], USD $)	6 Months Ended
In Millions, unless otherwise specified	Apr. 03, 2015	Oct. 03, 2014
Fair Value, Assets [Roll Forward]
Auction rate securities Ending Balance	$2.30
Foreign currency derivative, beginning balance	3.3
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets [Roll Forward]
Auction rate securities Beginning Balance		2.3
Foreign currency derivative, beginning balance		0.7
Auction rate securities Ending Balance	2.3	2.3
Foreign currency derivative, beginning balance	3.3	0.7
Fair Value, Inputs, Level 3 [Member] | Auction Rate Securities [Member]
Fair Value, Assets [Roll Forward]
Changes in fair value included in earnings	0
Fair Value, Inputs, Level 3 [Member] | Derivative [Member]
Fair Value, Assets [Roll Forward]
Changes in fair value included in earnings	$2.60

Fair_Value_Fair_Value_Liabilit

Fair Value Fair Value Liabilities Measured on Recurring Basis Unobservable Input Reconciliation (Details) (Fair Value, Measurements, Recurring [Member], USD $)	6 Months Ended
In Millions, unless otherwise specified	Apr. 03, 2015
Fair Value, Liabilities [Roll Forward]
Purchase obligation recorded for business combinations, beginning balance	$74.60
Foreign currency derivative liability, beginning balance	3
Fair Value, Inputs, Level 3 [Member]
Fair Value, Liabilities [Roll Forward]
Purchase obligation recorded for business combinations, beginning balance	74
Foreign currency derivative liability, beginning balance	0.7
Changes in fair value included in earnings	0.6
Purchase obligation recorded for business combinations, beginning balance	74.6
Foreign currency derivative liability, beginning balance	3
Fair Value, Inputs, Level 3 [Member] | Derivative [Member]
Fair Value, Liabilities [Roll Forward]
Changes in fair value included in earnings	$2.30

Fair_Value_Fair_value_transfer

Fair Value Fair value transfers (Details) (USD $)	6 Months Ended
	Apr. 03, 2015
Fair Value Disclosures [Abstract]
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount	$0
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	0
Fair Value, Liabilities, Level 1 to Level 2 Transfers, Amount	0
Fair Value, Liabilities, Level 2 to Level 1 Transfers, Amount	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers out of Level 3	$0

Inventory_Schedule_Of_Inventor

Inventory (Schedule Of Inventories) (Details) (USD $)	Apr. 03, 2015	Oct. 03, 2014
In Millions, unless otherwise specified
Inventory, Net [Abstract]
Raw materials	$24.90	$45.40
Work-in-process	149	145.9
Finished goods	92.5	71.3
Finished goods held on consignment by customers	9.8	8.2
Total inventory	$276.20	$270.80

Property_Plant_and_Equipment_S

Property, Plant and Equipment (Schedule Of Property, Plant And Equipment) (Details) (USD $)	Apr. 03, 2015	Oct. 03, 2014
In Millions, unless otherwise specified
Property, Plant and Equipment
Total property, plant and equipment, gross	$1,345.40	$1,177.10
Accumulated depreciation	-689.6	-621.2
Total property, plant and equipment, net	655.8	555.9
Land and improvements [Member]
Property, Plant and Equipment
Total property, plant and equipment, gross	11.6	11.6
Building and improvements [Member]
Property, Plant and Equipment
Total property, plant and equipment, gross	94.6	90.7
Furniture and fixtures [Member]
Property, Plant and Equipment
Total property, plant and equipment, gross	24.9	26.9
Machinery and equipment [Member]
Property, Plant and Equipment
Total property, plant and equipment, gross	1,083	952.9
Construction in progress [Member]
Property, Plant and Equipment
Total property, plant and equipment, gross	$131.30	$95

Goodwill_and_Intangible_Assets1

Goodwill and Intangible Assets (Schedule Of Intangible Assets Subject To Amortization) (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Apr. 03, 2015	Oct. 03, 2014
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, Gross Carrying Amount	$155	$155
Total intangible assets, Accumulated Amortization	-96.8	-80
Total intangible assets, Net Carrying Amount	58.2	75
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period Remaining (Years)	18 months
Gross Carrying Amount	57.2	57.2
Accumulated Amortization	-44.2	-39.4
Net Carrying Amount	13	17.8
Developed Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period Remaining (Years)	25 months
Gross Carrying Amount	96.2	96.2
Accumulated Amortization	-52.6	-40.6
Net Carrying Amount	43.6	55.6
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Indefinite-Lived Trademarks	1.6	1.6
Nonamortizing intangible assets, Gross Carrying Amount	$1.60	$1.60

Goodwill_and_Intangible_Assets2

Goodwill and Intangible Assets (Schedule Of Expected Annual Amortization Expense Related To Intangible Assets For The Next Five Years) (Details) (USD $)	Apr. 03, 2015
In Millions, unless otherwise specified
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract]
Remaining 2015	$16.40
2016	28.3
2017	11.9
2018	0
2019	0
Thereafter	$0

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Apr. 03, 2015	Mar. 28, 2014	Apr. 03, 2015	Mar. 28, 2014
Income Tax Disclosure [Abstract]
United States income taxes	$49.60	$24.10	$98.10	$47.80
Foreign income taxes	4.4	1.5	8.2	-0.7
Provision for income taxes	$54	$25.60	$106.30	$47.10

Income_Taxes_Narrative_Details

Income Taxes (Narrative) (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Apr. 03, 2015	Mar. 28, 2014	Apr. 03, 2015	Mar. 28, 2014
Income Tax Disclosure [Abstract]
Effective tax rate	24.50%	25.00%	22.70%	21.60%
Federal statutory income tax rate		35.00%	35.00%	35.00%
Research and development tax credit	$7		$7
Deferred foreign income tax expense (benefit)				($4.50)

Stockholders_Equity_Details

Stockholder's Equity (Details) (USD $)	3 Months Ended	6 Months Ended
In Millions, except Per Share data, unless otherwise specified	Apr. 03, 2015	Apr. 03, 2015	Nov. 11, 2014
Stockholders' Equity Note [Abstract]
Stock repurchase authorized			$300
Payments for repurchase of common stock	48.1	79.1
Treasury stock acquired (shares)	0.6	1.1
Average cost per share (usd per share)	$80.12	$71.90
Remaining authorized repurchase amount	$220.90	$220.90

Stockholders_Equity_Dividend_D

Stockholder's Equity Dividend (Details) (USD $)	3 Months Ended			6 Months Ended		0 Months Ended
In Millions, except Per Share data, unless otherwise specified	Apr. 03, 2015	Jan. 02, 2015	Mar. 28, 2014	Apr. 03, 2015	Mar. 28, 2014	Apr. 30, 2015
Cash dividends declared and paid per share (usd per share)	$0.13	$0.13	$0	$0.26	$0
Payments of ordinary dividends	$24.90	$24.70		$49.60
Dividend Declared [Member] | Subsequent Event [Member]
Subsequent Event, Date						30-Apr-15
Dividends declared (usd per share)						$0.13
Dividends Payable, Date to be Paid						4-Jun-15
Dividends Payable, Date of Record						14-May-15

Schedule_Of_Earnings_Per_Share

(Schedule Of Earnings Per Share) (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, except Per Share data, unless otherwise specified	Apr. 03, 2015	Mar. 28, 2014	Apr. 03, 2015	Mar. 28, 2014
Earnings Per Share [Abstract]
Net income	$166.50	$76.90	$361.70	$171.40
Weighted average shares outstanding - basic (shares)	189.9	187.4	189.3	186.8
Dilutive effect of equity based awards (shares)	5.3	4.8	5.4	4.9
Weighted average shares outstanding - diluted (shares)	195.2	192.2	194.7	191.7
Net income per share - basic (usd per share)	$0.88	$0.41	$1.91	$0.92
Net income per share - diluted (usd per share)	$0.85	$0.40	$1.86	$0.89
Anti-dilutive common stock equivalents (shares)	0.1	1.6	0.6	1.7

Restructuring_and_Other_Charge2

Restructuring and Other Charges Schedule of Restructuring Activity (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Apr. 03, 2015	Mar. 28, 2014	Apr. 03, 2015	Mar. 28, 2014
Restructuring Reserve [Roll Forward]
Beginning balance	$1.60		$0.50
Current Charges	1.1	0	2.4	0
Cash Payments	-1.3		-1.5
Other	0		0
Ending balance	1.4		1.4
Employee Severance [Member] | FY13 Restructuring Programs [Member]
Restructuring Reserve [Roll Forward]
Beginning balance	0.3		0.3
Current Charges	0		0
Cash Payments	-0.1		-0.1
Other	0		0
Ending balance	0.2		0.2
Employee Severance [Member] | Other Restructuring Programs [Member]
Restructuring Reserve [Roll Forward]
Beginning balance	1.1		0
Current Charges	1.1		2.4
Cash Payments	-1.1		-1.3
Other	0		0
Ending balance	1.1		1.1
Facility Closing [Member] | Other Restructuring Programs [Member]
Restructuring Reserve [Roll Forward]
Beginning balance	0.2		0.2
Current Charges	0		0
Cash Payments	-0.1		-0.1
Other	0		0
Ending balance	$0.10		$0.10