Plexus (PLXS) 10-Q 8 Feb 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Jan. 02, 2016	Feb. 04, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jan. 2, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Entity Registrant Name	PLEXUS CORP
Entity Central Index Key	785,786
Current Fiscal Year End Date	--10-01
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		33,374,556

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jan. 02, 2016	Jan. 03, 2015
Income Statement [Abstract]
Revenue, Net	$ 616,664	$ 664,690
Cost of sales	(566,605)	(603,276)
Gross profit	50,059	61,414
Selling and administrative expenses	27,028	30,940
Restructuring Charges	1,507	1,691
Operating income	21,524	28,783
Other income (expense):
Interest expense	(3,534)	(3,777)
Interest income	932	897
Miscellaneous	(1,620)	138
Income before income taxes	17,302	26,041
Income tax expense	2,854	2,962
Net income	$ 14,448	$ 23,079
Earnings per share:
Basic	$ 0.43	$ 0.69
Diluted	$ 0.42	$ 0.67
Weighted average shares outstanding:
Basic	33,396	33,602
Diluted	34,062	34,439
Comprehensive income:
Net income	$ 14,448	$ 23,079
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	5,744	(4,644)
Foreign currency translation adjustments	(6,606)	(5,361)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(862)	(10,005)
Comprehensive income	$ 13,586	$ 13,074

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jan. 02, 2016	Oct. 03, 2015
Current assets:
Cash and cash equivalents	$ 354,728	$ 357,106
Accounts receivable, net of allowances of $969 and $879, respectively	360,220	384,680
Inventories	549,501	569,371
Deferred income taxes	10,662	10,686
Prepaid Expense and Other Assets, Current	23,130	22,882
Total current assets	1,298,241	1,344,725
Property, plant and equipment, net	313,656	317,351
Deferred income taxes	3,584	3,635
Other	36,559	36,677
Assets, Noncurrent	353,799	357,663
Total assets	1,652,040	1,702,388
Current liabilities:
Current portion of long-term debt and capital lease obligations	2,864	3,513
Accounts payable	368,030	400,710
Customer deposits	71,863	81,359
Accrued salaries and wages	35,715	49,270
Other accrued liabilities	40,030	44,446
Total current liabilities	518,502	579,298
Long-term debt, capital lease obligations and other financing, net of current portion	259,289	259,257
Deferred income taxes	9,664	9,664
Other liabilities	13,791	11,897
Total non-current liabilities	282,744	280,818
Liabilities	$ 801,246	$ 860,116
Commitments and Contingencies
Shareholders' equity:
Preferred stock, $.01 par value, 5,000 shares authorized, none issued or outstanding	$ 0	$ 0
Common stock, $.01 par value, 200,000 shares authorized, 50,558 and 50,554 shares issued, respectively, and 33,276 and 33,500 shares outstanding, respectively	506	506
Additional paid-in capital	500,888	497,488
Common stock held in treasury, at cost, 17,282 and 17,054 shares, respectively	(518,431)	(509,968)
Retained earnings	875,165	860,717
Accumulated other comprehensive loss	(7,334)	(6,471)
Total shareholders’ equity	850,794	842,272
Liabilities and Equity	$ 1,652,040	$ 1,702,388

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jan. 02, 2016	Oct. 03, 2015
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 969	$ 879
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	50,558,000	50,554,000
Common stock, shares outstanding	33,276,000	33,500,000
Treasury stock, shares	17,282,000	17,054,000

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jan. 02, 2016	Jan. 03, 2015
Cash flows from operating activities
Net income	$ 14,448	$ 23,079
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation	12,029	12,657
Amortization of Financing Costs	81	76
Loss (gain) on sale of property, plant and equipment	9	(86)
Deferred income tax net expense	0	95
Share-based compensation expense	3,390	3,741
Changes in operating assets and liabilities, excluding effects of acquisitions
Accounts receivable	22,290	(56,669)
Inventories	17,292	(16,064)
Other current and noncurrent assets	(345)	(4,722)
Accounts payable	(28,975)	(47,174)
Customer deposits	(9,168)	7,007
Other current and noncurrent liabilities	(9,785)	(12,230)
Cash flows provided by (used in) operating activities	21,266	(90,290)
Cash flows from investing activities
Payments for property, plant and equipment	(11,745)	(9,595)
Proceeds from sale of property, plant and equipment	14	101
Cash flows used in investing activities	(11,731)	(9,494)
Cash flows from financing activities
Borrowings under credit facility	139,000	152,000
Payments on debt and capital lease obligations	(140,196)	(153,052)
Debt issuance costs	(70)	0
Repurchases of common stock	(8,463)	(7,289)
Proceeds from exercise of stock options	10	2,104
Payments Related to Tax Withholding for Share-based Compensation	0	(465)
Cash flows used in financing activities	(9,719)	(6,702)
Effect of exchange rate changes on cash and cash equivalents	(2,194)	(420)
Net decrease in cash and cash equivalents	(2,378)	(106,906)
Cash and cash equivalents:
Beginning of period	357,106	346,591
End of period	$ 354,728	$ 239,685

Basis Of Presentation And Accou

Basis Of Presentation And Accounting Policies	3 Months Ended
	Jan. 02, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Presentation And Accounting Policies	Basis of Presentation and Significant Accounting Policies Basis of Presentation The accompanying Condensed Consolidated Financial Statements included herein have been prepared by Plexus Corp. and its subsidiaries (together “Plexus” or the “Company”) without audit and pursuant to the rules and regulations of the United States (“U.S.”) Securities and Exchange Commission (“SEC”). In the opinion of the Company, the accompanying Condensed Consolidated Financial Statements reflect all adjustments, which include normal recurring adjustments necessary for the fair statement of the consolidated financial position of the Company as of January 2, 2016 and October 3, 2015 , and the results of operations for the three months ended January 2, 2016 and January 3, 2015 , and the cash flows for the same three month periods. Certain prior period amounts have been reclassified to conform to the current period presentation. The Company’s fiscal year ends on the Saturday closest to September 30. The Company also uses a “4-4-5” weekly accounting system for the interim periods in each quarter. Each quarter, therefore, ends on a Saturday at the end of the 4-4-5 period. Periodically, an additional week must be added to the fiscal year to re-align with the Saturday closest to September 30. The first quarter of fiscal 2015 included 14 weeks, all other fiscal quarters presented included 13 weeks. Certain information and footnote disclosures, normally included in financial statements prepared in accordance with generally accepted accounting principles, have been condensed or omitted pursuant to the SEC’s rules and regulations dealing with interim financial statements. However, the Company believes that the disclosures made in the Condensed Consolidated Financial Statements included herein are adequate to make the information presented not misleading. It is suggested that these Condensed Consolidated Financial Statements be read in conjunction with the Consolidated Financial Statements and notes thereto included in the Company’s 2015 Annual Report on Form 10-K. The Company’s reportable segments consist of the “Americas” (“AMER”), “Asia-Pacific” (“APAC”) and “Europe, Middle East, and Africa” (“EMEA”) segments. Refer to Note 9, "Reportable Segments," for further details on reportable segments. Cash and Cash Equivalents Cash and cash equivalents include short-term, highly liquid investments and are classified as Level 1 in the fair value hierarchy described below. Fair Value of Financial Instruments The Company holds financial instruments consisting of cash and cash equivalents, accounts receivable, certain deferred compensation assets held under trust arrangements, accounts payable, debt, derivatives, and capital lease obligations. The carrying values of cash and cash equivalents, accounts receivable, accounts payable, and capital lease obligations as reported in the Condensed Consolidated Financial Statements approximate fair value. Derivatives and certain deferred compensation assets held under trust arrangements are recorded at fair value. Accounts receivable are reflected at net realizable value based on anticipated losses due to potentially uncollectible balances. Anticipated losses are based on management’s analysis of historical losses and changes in customers’ credit status. The fair value of the Company’s long-term debt was $249.3 million and $250.2 million as of January 2, 2016 and October 3, 2015 , respectively. The carrying value of the Company’s long-term debt was $250.0 million as of both January 2, 2016 and October 3, 2015 . The Company uses quoted market prices when available or discounted cash flows to calculate the fair value of its debt. If measured at fair value in the financial statements, long-term debt (including the current portion) would be classified as Level 2 in the fair value hierarchy described below. Refer to Note 4, "Derivatives and Fair Value Measurements," for further details on derivatives. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (or exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The accounting guidance establishes a fair value hierarchy based on three levels of inputs that may be used to measure fair value. The input levels are: Level 1: Quoted (observable) market prices in active markets for identical assets or liabilities. Level 2: Inputs other than Level 1 that are observable, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the asset or liability.

Inventories

Inventories	3 Months Ended
	Jan. 02, 2016
Inventory, Net [Abstract]
Inventories	Inventories Inventories as of January 2, 2016 and October 3, 2015 consisted of (in thousands): January 2, October 3, Raw materials $ 393,733 $ 407,637 Work-in-process 69,443 84,472 Finished goods 86,325 77,262 Total inventories $ 549,501 $ 569,371 Customer deposits are received by the Company to offset obsolete and excess inventory risks. The total amount of customer deposits related to inventory and included within current liabilities on the accompanying Condensed Consolidated Balance Sheets as of January 2, 2016 and October 3, 2015 was $60.0 million and $64.3 million , respectively.

Debt

Debt	3 Months Ended
	Jan. 02, 2016
Debt and Capital Lease Obligations [Abstract]
Debt, Capital Lease Obligations And Other Financing	Debt, Capital Lease Obligations and Other Financing Debt, capital lease obligations and other financing amounts outstanding at January 2, 2016 and October 3, 2015 are summarized below (in thousands): January 2, October 3, Borrowings under the credit facility $ 75,000 $ 75,000 5.20% Senior Notes, due June 15, 2018 175,000 175,000 Capital lease obligations 3,897 4,560 Non-cash financing of leased facility 8,256 8,210 Total obligations 262,153 262,770 Less: current portion (2,864 ) (3,513 ) Long-term debt and capital lease obligations, net of current portion $ 259,289 $ 259,257 The Company has a five-year senior unsecured revolving credit facility (the “Credit Facility”), which expires on May 15, 2019 . In October 2015, $30.0 million of an accordion feature thereunder was exercised, increasing the maximum commitment under the Credit Facility to $265.0 million . The Credit Facility may potentially be further increased to $335.0 million , generally by mutual agreement of the Company and the lenders, subject to certain customary conditions. During the three months ended January 2, 2016 , the highest daily borrowing was $204.0 million , the average daily borrowing was $173.5 million , and the Company borrowed and repaid $139.0 million of revolving borrowings under the Credit Facility. The financial covenants (as defined under the related Credit Agreement) require that the Company maintain, as of each fiscal quarter end, a maximum total leverage ratio and a minimum interest coverage ratio. As of January 2, 2016 , the Company was in compliance with all financial covenants of the Credit Agreement. Borrowings under the Credit Facility, at the Company's option, bear interest at a defined base rate or the LIBOR rate plus, in each case, an applicable margin based upon the Company's leverage ratio as defined in the Credit Agreement. Rates would increase upon negative changes in specified Company financial metrics and would decrease to no less than LIBOR plus 1.00% or base rate plus 0.00% upon reduction in the current total leverage ratio. As of January 2, 2016 , the borrowing rate under the Credit Agreement was LIBOR plus 1.125% (or 1.394% ). As of January 2, 2016 , the $75.0 million of outstanding debt under the Credit Facility is effectively at a fixed interest rate as a result of a $75.0 million interest rate swap contract discussed in Note 4, "Derivatives and Fair Value Measurements." The Company is required to pay an annual commitment fee based on the unused revolver credit commitment based on the Company's leverage ratio; the fee was 0.175% as of January 2, 2016 . The Company also has outstanding 5.20% Senior Notes, due on June 15, 2018 (the “Notes”). As of January 2, 2016 and October 3, 2015 , $175.0 million was outstanding, and the Company was in compliance with all financial covenants relating to the Notes, which are generally consistent with those in the Credit Agreement discussed above. In fiscal 2014, the Company capitalized certain leased property, plant and equipment related to a footprint expansion in Guadalajara, Mexico for which the Company had direct involvement in construction. The Company continued to have ongoing involvement subsequent to the completion of construction, which resulted in a non-cash financing transaction.

Derivatives And Fair Value Meas

Derivatives And Fair Value Measurements	3 Months Ended
	Jan. 02, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives And Fair Value Measurements	Derivatives and Fair Value Measurements All derivatives are recognized in the accompanying Condensed Consolidated Balance Sheets at their estimated fair value. The Company uses derivatives to manage the variability of foreign currency obligations and interest rates. The Company has cash flow hedges related to variable rate debt and forecasted foreign currency obligations, in addition to non-designated hedges to manage foreign currency exposures associated with certain foreign currency denominated assets and liabilities. The Company does not enter into derivatives for speculative purposes. ASC Topic 815-10, “Derivatives and Hedging,” requires companies to recognize all derivative instruments as either assets or liabilities at fair value in the statement of financial position. In accordance with ASC Topic 815-10, the Company designates some foreign currency exchange contracts and float-to-fixed interest rate derivative contracts as cash flow hedges of forecasted foreign currency expenses and of variable rate interest payments, respectively. Changes in the fair value of the derivatives that qualify as cash flow hedges are recorded in “Accumulated other comprehensive loss” in the accompanying Condensed Consolidated Balance Sheets until earnings are affected by the variability of the cash flows. In the next twelve months, the Company estimates that $4.0 million of unrealized losses, net of tax, related to foreign exchange contracts will be reclassified from other comprehensive loss into earnings. Changes in the fair value of the non-designated derivatives related to recognized foreign currency denominated assets and liabilities are recorded in "Other income (expense)" in the accompanying Condensed Consolidated Statements of Comprehensive Income. The Company enters into forward currency exchange contracts for its Malaysian operations on a rolling basis. The Company had cash flow hedges outstanding with a notional value of $67.4 million as of January 2, 2016 and a notional value of $67.0 million as of October 3, 2015 . These forward currency contracts fix the exchange rates for the settlement of future foreign currency obligations that have yet to be realized. The total fair value of the cash flow hedges was a $4.0 million liability as of January 2, 2016 , and a $9.4 million liability as of October 3, 2015 . The Company had additional forward currency exchange contracts outstanding with a notional value of $50.9 million as of January 2, 2016 , and there were no such contracts outstanding as of October 3, 2015 . The Company has not designated these derivative instruments as hedging instruments. In accordance with ASC Topic 815-10, the net settlement amount (fair value) related to these contracts is recorded on the Condensed Consolidated Balance Sheets as either a current or long-term asset or liability, depending on the term, and as an element of "Other income (expense)." The total fair value of these derivatives was a net $0.1 million asset as of January 2, 2016 . In 2013, the Company entered into a $75.0 million notional amount interest rate swap contract which expires on May 5, 2017, related to $75.0 million of borrowings outstanding under the Company's Credit Facility. This interest rate swap pays the Company variable interest at the one month LIBOR rate, and the Company pays the counterparty a fixed interest rate. The fixed interest rate for the contract is 0.875% . Based on the terms of the interest rate swap contract and the underlying borrowings outstanding under the Credit Facility, the interest rate contract was determined to be effective, and thus qualifies as a cash flow hedge. As such, any changes in the fair value of the interest rate swap are recorded in "Accumulated other comprehensive loss" on the accompanying Condensed Consolidated Balance Sheets until earnings are affected by the variability of cash flows. The total fair value of the interest rate swap contract as of January 2, 2016 and October 3, 2015 , was a $0.1 million and $0.5 million liability, respectively. The notional amount of the Company’s interest rate swap was $75.0 million as of January 2, 2016 and October 3, 2015 . The tables below present information regarding the fair values of derivative instruments (as defined in Note 1, "Basis of Presentation and Accounting Policies," ) and the effects of derivative instruments on the Company’s Condensed Consolidated Financial Statements: Fair Values of Derivative Instruments In thousands of dollars Asset Derivatives Liability Derivatives January 2, 2016 October 3, 2015 January 2, 2016 October 3, 2015 Derivatives designated as hedging instruments Balance Sheet Classification Fair Value Fair Value Balance Sheet Classification Fair Value Fair Value Interest rate swaps Prepaid expenses and other $ — $ — Current liabilities – other $ 113 $ 497 Forward contracts Prepaid expenses and other $ — $ — Current liabilities – other $ 3,967 $ 9,408 Fair Values of Derivative Instruments In thousands of dollars Asset Derivatives Liability Derivatives January 2, 2016 October 3, 2015 January 2, 2016 October 3, 2015 Derivatives not designated as hedging instruments Balance Sheet Classification Fair Value Fair Value Balance Sheet Classification Fair Value Fair Value Forward contracts Prepaid expenses and other $ 66 $ — Current liabilities – other $ 29 $ — Derivative Impact on Accumulated Other Comprehensive Loss for the Three Months Ended In thousands of dollars Amount of Gain (Loss) Recognized in Other Comprehensive Income (“OCI”) on Derivatives (Effective Portion) Derivatives in Cash Flow Hedging Relationships January 2, 2016 January 3, 2015 Interest rate swaps $ 257 $ (310 ) Forward contracts $ 2,289 $ (4,256 ) Derivative Impact on Gain (Loss) Recognized in Income for the Three Months Ended In thousands of dollars Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) Derivatives in Cash Flow Hedging Relationships Classification of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) January 2, 2016 January 3, 2015 Interest rate swaps Interest expense $ (127 ) $ (137 ) Forward contracts Selling and administrative expenses $ (323 ) $ 12 Forward contracts Cost of goods sold $ (2,829 ) $ 113 Treasury rate locks Interest expense $ 81 $ 86 Income tax expense Income tax benefit $ — $ 4 Amount of Gain on Derivatives Recognized in Income Derivatives Not Designated as Hedging Instruments Location of Gain Recognized on Derivatives in Income January 2, 2016 January 3, 2015 Forward contracts Other income $ 37 $ 158 There were no gains or losses recognized in income for derivatives related to ineffective portions and amounts excluded from effectiveness testing for the three months ended January 2, 2016 and January 3, 2015 . The following table lists the fair values of liabilities of the Company’s derivatives as of January 2, 2016 and October 3, 2015 , by input level as defined in Note 1, "Basis of Presentation and Accounting Policies," (in thousands): Level 1 Level 2 Level 3 Total January 2, 2016 Interest rate swaps $ — $ (113 ) $ — $ (113 ) Foreign currency forward contracts $ — $ (3,930 ) $ — $ (3,930 ) October 3, 2015 Interest rate swaps $ — $ (497 ) $ — $ (497 ) Foreign currency forward contracts $ — $ (9,408 ) $ — $ (9,408 ) The fair value of interest rate swaps and foreign currency forward contracts is determined using a market approach, which includes obtaining directly or indirectly observable values from third parties active in the relevant markets. The primary input in the fair value of the interest rate swaps is the relevant LIBOR forward curve. Inputs in the fair value of the foreign currency forward contracts include prevailing forward and spot prices for currency and interest rate forward curves.

Income Taxes

Income Taxes	3 Months Ended
	Jan. 02, 2016
Income Tax Expense (Benefit), Continuing Operations [Abstract]
Income Taxes	Income Taxes Income tax expense for the three months ended January 2, 2016 and January 3, 2015 was $2.9 million and $3.0 million , respectively. The effective tax rates for the three months ended January 2, 2016 and January 3, 2015 were 16.5 percent and 11.4 percent , respectively. The change in the effective tax rate for the three months ended January 2, 2016 as compared to the three months ended January 3, 2015 , was primarily due to an overall decrease in pretax earnings and decreased earnings in jurisdictions where the Company maintains valuation allowances. The Company’s effective tax rate will fluctuate with the geographic distribution of its worldwide earnings, the impact of tax audits, other discrete items and changes in tax laws. There were no additions to the amount of unrecognized tax benefits recorded for uncertain tax positions as of January 2, 2016 as compared to October 3, 2015 . The Company recognizes accrued interest and penalties on uncertain tax positions as a component of income tax expense. The amount of interest and penalties recorded for the three months ended January 2, 2016 was not material. It is possible that one or more federal and state tax positions may be settled within the next 12 months. Settlement of these matters is not expected to have a material effect on the Company's consolidated results of operations, financial position and cash flows. The Company is not currently under examination by taxing authorities in the U.S. or any foreign jurisdictions in which the Company operates. The Company maintains valuation allowances when it is more likely than not that all or a portion of a net deferred tax asset will not be realized. During the three months ended January 2, 2016 , the Company continued to record a full valuation allowance against its net deferred tax assets in certain jurisdictions within the AMER and EMEA segments, as it is more likely than not that these assets will not be fully realized based primarily on historical performance. The Company will continue to provide a valuation allowance against its net deferred tax assets in each of the applicable jurisdictions going forward until it determines it is more likely than not that the deferred tax assets will be realized.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Jan. 02, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following is a reconciliation of the amounts utilized in the computation of basic and diluted earnings per share for the three months ended January 2, 2016 and January 3, 2015 (in thousands, except per share amounts): Three Months Ended January 2, January 3, Net income $ 14,448 $ 23,079 Basic weighted average common shares outstanding 33,396 33,602 Dilutive effect of share-based awards outstanding 666 837 Diluted weighted average shares outstanding 34,062 34,439 Earnings per share: Basic $ 0.43 $ 0.69 Diluted $ 0.42 $ 0.67 For the three months ended January 2, 2016 and January 3, 2015 , share-based awards for approximately 0.8 million and 0.6 million shares, respectively, were not included in the computation of diluted earnings per share because they were anti-dilutive.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Jan. 02, 2016
Share-based Compensation [Abstract]
Stock-Based Compensation	Share-Based Compensation The Company recognized $3.4 million and $3.7 million of compensation expense associated with share-based awards for the three months ended January 2, 2016 and January 3, 2015 , respectively. The Company uses the Black-Scholes valuation model to determine the fair value of stock options and stock-settled SARs. The Company uses the fair value at the date of grant to value restricted stock units ("RSUs"). The Company uses the Monte Carlo valuation model to determine the fair value of performance stock units ("PSUs") at the date of grant. The PSUs are payable in shares and vest based on the relative total shareholder return of the Company's common stock as compared to companies in the Russell 3000 Index during a three year performance period. The number of shares that may be issued pursuant to PSUs ranges from zero to 0.2 million . The Company recognizes share-based compensation expense over the share-based awards' vesting period.

Litigation

Litigation	3 Months Ended
	Jan. 02, 2016
Commitments and Contingencies Disclosure [Abstract]
Litigation [Text Block]	Litigation The Company is party to lawsuits in the ordinary course of business. Management does not believe that these proceedings, individually or in the aggregate, will have a material positive or adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

Reportable Segments

Reportable Segments	3 Months Ended
	Jan. 02, 2016
Segment Reporting [Abstract]
Reportable Segments	Reportable Segments Reportable segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or group, in assessing performance and allocating resources. The Company uses an internal management reporting system, which provides important financial data to evaluate performance and allocate the Company’s resources on a regional basis. Net sales for segments are attributed to the region in which the product is manufactured or the service is performed. The services provided, manufacturing processes used, class of customers serviced and order fulfillment processes used are similar and generally interchangeable across the segments. A segment’s performance is evaluated based upon its operating income (loss). A segment’s operating income (loss) includes its net sales less cost of sales and selling and administrative expenses, but excludes corporate and other expenses. Corporate and other expenses primarily represent corporate selling and administrative expenses, and restructuring and impairment charges, if any. These costs are not allocated to the segments, as management excludes such costs when assessing the performance of the segments. Inter-segment transactions are generally recorded at amounts that approximate arm’s length transactions. The accounting policies for the segments are the same as for the Company taken as a whole. Information about the Company’s three reportable segments for the three months ended January 2, 2016 and January 3, 2015 is as follows (in thousands): Three Months Ended January 2, January 3, Net sales: AMER $ 305,097 $ 335,262 APAC 299,346 333,377 EMEA 42,087 28,079 Elimination of inter-segment sales (29,866 ) (32,028 ) $ 616,664 $ 664,690 Operating income (loss): AMER $ 8,386 $ 19,752 APAC 36,952 41,781 EMEA (735 ) (3,831 ) Corporate and other costs (23,079 ) (28,919 ) $ 21,524 $ 28,783 Other income (expense): Interest expense $ (3,534 ) $ (3,777 ) Interest income 932 897 Miscellaneous (1,620 ) 138 Income before income taxes $ 17,302 $ 26,041 January 2, October 3, Total assets: AMER $ 546,784 $ 573,437 APAC 1,008,975 1,011,622 EMEA 128,150 128,306 Corporate and eliminations (31,869 ) (10,977 ) $ 1,652,040 $ 1,702,388

Guarantees

Guarantees	3 Months Ended
	Jan. 02, 2016
Guarantees [Abstract]
Guarantees	Guarantees The Company offers certain indemnifications under its customer manufacturing agreements. In the normal course of business, the Company may from time to time be obligated to indemnify its customers or its customers’ customers against damages or liabilities arising out of the Company’s negligence, misconduct, breach of contract, or infringement of third party intellectual property rights. Certain agreements have extended broader indemnification, and while most agreements have contractual limits, some do not. However, the Company generally does not provide for such indemnities and seeks indemnification from its customers for damages or liabilities arising out of the Company’s adherence to customers’ specifications or designs or use of materials furnished, or directed to be used, by its customers. The Company does not believe its obligations under such indemnities are material. In the normal course of business, the Company also provides its customers a limited warranty covering workmanship, and in some cases materials, on products manufactured by the Company. Such warranty generally provides that products will be free from defects in the Company’s workmanship and meet mutually agreed-upon specifications for periods generally ranging from 12 months to 24 months. If a product fails to comply with the Company’s limited warranty, the Company’s obligation is generally limited to correcting, at its expense, any defect by repairing or replacing such defective product. The Company’s warranty generally excludes defects resulting from faulty customer-supplied components, design defects or damage caused by any party or cause other than the Company. The Company provides for an estimate of costs that may be incurred under its limited warranty at the time product revenue is recognized and establishes additional reserves for specifically identified product issues. These costs primarily include labor and materials, as necessary, associated with repair or replacement and are included in the Company's accompanying Condensed Consolidated Balance Sheets in "Other accrued liabilities." The primary factors that affect the Company’s warranty liability include the value and the number of shipped units and historical and anticipated rates of warranty claims. As these factors are impacted by actual experience and future expectations, the Company regularly assesses the adequacy of its recorded warranty liabilities and adjusts the amounts as necessary. Below is a table summarizing the activity related to the Company’s limited warranty liability for fiscal 2015 and for the three months ended January 2, 2016 (in thousands): Limited warranty liability, as of September 27, 2014 $ 6,803 Accruals for warranties issued during the period 1,742 Settlements (in cash or in kind) during the period (2,698 ) Limited warranty liability, as of October 3, 2015 5,847 Accruals for warranties issued during the period 424 Settlements (in cash or in kind) during the period (637 ) Limited warranty liability, as of January 2, 2016 $ 5,634

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Jan. 02, 2016
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders' Equity On August 20, 2015, the Board of Directors approved a stock repurchase program under which the Company is authorized to repurchase up to $30.0 million of its common stock during fiscal 2016. During the three months ended January 2, 2016 , the Company repurchased 227,312 shares for approximately $8.5 million , at an average price of $37.23 per share. These shares were recorded as treasury stock. On August 13, 2014, the Board of Directors approved a stock repurchase program under which the Company was authorized to repurchase up to $30.0 million of its common stock during fiscal 2015. During the three months ended January 3, 2015 , the Company repurchased 187,819 shares for approximately $7.3 million , at an average price of $38.81 per share. During fiscal 2015, the Company repurchased 745,227 shares for approximately $30.0 million , at an average price of $40.26 per share. These shares were recorded as treasury stock.

Restructuring Costs

Restructuring Costs	3 Months Ended
	Jan. 02, 2016
Restructuring Costs [Abstract]
Restructuring Costs	Restructuring Costs Restructuring costs for the three months ended January 2, 2016 , incurred primarily in the AMER segment, relate largely to the Company's closure of its manufacturing facility in Fremont, California as a result of the Company’s optimization of its capacity to meet customer demand due to changing end-market dynamics. The Company also recorded restructuring costs in the EMEA segment related to the partial closure of its Livingston, Scotland facility to align with reduced end-market demand, particularly in the oil and gas industry. These charges are recorded within "Restructuring charges" on the Condensed Consolidated Statements of Comprehensive Income. Restructuring liabilities are recorded within "Other accrued liabilities" on the Condensed Consolidated Balance Sheets. For the three months ended January 2, 2016 , the Company incurred restructuring costs of $1.5 million , which consisted of $1.4 million of employee termination and severance costs, primarily related to the Company's workforce in Fremont and Livingston, and $0.1 million of other exit costs. Restructuring costs for the three months ended January 3, 2015 related to the relocation of manufacturing operations from Juarez, Mexico to Guadalajara, Mexico. For the three months ended January 3, 2015 , the Company incurred restructuring costs of $1.7 million , which consisted of $1.5 million of moving and transition costs resulting from the relocation of manufacturing operations from Juarez to Guadalajara and $0.1 million of employee termination and severance costs related to the Company's former workforce in Juarez. In the three months ended January 2, 2016 and January 3, 2015 , the Company did not recognize an income tax benefit for these restructuring costs due to tax losses in the jurisdiction where the restructuring costs occurred. The Company's restructuring accrual activity for the three months ended January 2, 2016 is included in the table below (in thousands): Employee Termination and Severance Costs Other Exit Costs Total Accrued balance, October 3, 2015 $ — $ — $ — Restructuring costs 1,394 113 1,507 Amounts utilized (338 ) (113 ) (451 ) Accrued balance, January 2, 2016 $ 1,056 $ — $ 1,056 $5.0 million and $7.0 million .

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Jan. 02, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements In November 2015, the Financial Accounting Standards Board (“FASB”) issued an accounting standard to simplify the presentation of deferred taxes. The new guidance requires that all deferred tax assets and liabilities, along with any related valuation allowance, be classified as noncurrent on the balance sheet, as opposed to being presented as current and non-current. This guidance is required to be adopted for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted, and the guidance may be applied either prospectively, for all deferred tax assets and liabilities, or retrospectively. The adoption of this guidance is not expected to have a material impact on the Company's Consolidated Financial Statements. In July 2015, the FASB issued amended guidance to simplify the subsequent measurement of inventory measured using first-in, first-out or average cost. The new standard replaces the current lower of cost or market test with a lower of cost and net realizable value test. Under the guidance, market could be replacement cost, net realizable value or net realizable value less an approximately normal profit margin. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This guidance should be applied on a prospective basis and is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2016, with early adoption permitted. The Company is currently in the process of assessing the impact of the adoption of the new standard on its Consolidated Financial Statements. In April 2015, the FASB issued amended guidance that requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Under the new guidance, the recognition and measurement of debt issuance costs is not affected. This guidance is effective for annual periods beginning on or after December 15, 2015, and interim periods within those fiscal years, with early adoption permitted. The adoption of this guidance is not expected to have a material impact on the Company's Consolidated Financial Statements. In May 2014, the FASB issued amended guidance for revenue recognition. The standard's core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under current guidance. This may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. In July 2015 the FASB approved a one-year deferral of the standard. The new standard will become effective retrospectively for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted for annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company is currently in the process of evaluating the impact of the adoption of this guidance on its Consolidated Financial Statements.

Basis Of Presentation And Acc19

Basis Of Presentation And Accounting Policies (Policy)	3 Months Ended
	Jan. 02, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Presentation	Basis of Presentation The accompanying Condensed Consolidated Financial Statements included herein have been prepared by Plexus Corp. and its subsidiaries (together “Plexus” or the “Company”) without audit and pursuant to the rules and regulations of the United States (“U.S.”) Securities and Exchange Commission (“SEC”). In the opinion of the Company, the accompanying Condensed Consolidated Financial Statements reflect all adjustments, which include normal recurring adjustments necessary for the fair statement of the consolidated financial position of the Company as of January 2, 2016 and October 3, 2015 , and the results of operations for the three months ended January 2, 2016 and January 3, 2015 , and the cash flows for the same three month periods. Certain prior period amounts have been reclassified to conform to the current period presentation. The Company’s fiscal year ends on the Saturday closest to September 30. The Company also uses a “4-4-5” weekly accounting system for the interim periods in each quarter. Each quarter, therefore, ends on a Saturday at the end of the 4-4-5 period. Periodically, an additional week must be added to the fiscal year to re-align with the Saturday closest to September 30. The first quarter of fiscal 2015 included 14 weeks, all other fiscal quarters presented included 13 weeks. Certain information and footnote disclosures, normally included in financial statements prepared in accordance with generally accepted accounting principles, have been condensed or omitted pursuant to the SEC’s rules and regulations dealing with interim financial statements. However, the Company believes that the disclosures made in the Condensed Consolidated Financial Statements included herein are adequate to make the information presented not misleading. It is suggested that these Condensed Consolidated Financial Statements be read in conjunction with the Consolidated Financial Statements and notes thereto included in the Company’s 2015 Annual Report on Form 10-K. The Company’s reportable segments consist of the “Americas” (“AMER”), “Asia-Pacific” (“APAC”) and “Europe, Middle East, and Africa” (“EMEA”) segments. Refer to Note 9, "Reportable Segments," for further details on reportable segments.
Cash And Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include short-term, highly liquid investments and are classified as Level 1 in the fair value hierarchy described below.
Fair Value Of Financial Instruments	Fair Value of Financial Instruments The Company holds financial instruments consisting of cash and cash equivalents, accounts receivable, certain deferred compensation assets held under trust arrangements, accounts payable, debt, derivatives, and capital lease obligations. The carrying values of cash and cash equivalents, accounts receivable, accounts payable, and capital lease obligations as reported in the Condensed Consolidated Financial Statements approximate fair value. Derivatives and certain deferred compensation assets held under trust arrangements are recorded at fair value. Accounts receivable are reflected at net realizable value based on anticipated losses due to potentially uncollectible balances. Anticipated losses are based on management’s analysis of historical losses and changes in customers’ credit status. The fair value of the Company’s long-term debt was $249.3 million and $250.2 million as of January 2, 2016 and October 3, 2015 , respectively. The carrying value of the Company’s long-term debt was $250.0 million as of both January 2, 2016 and October 3, 2015 . The Company uses quoted market prices when available or discounted cash flows to calculate the fair value of its debt. If measured at fair value in the financial statements, long-term debt (including the current portion) would be classified as Level 2 in the fair value hierarchy described below. Refer to Note 4, "Derivatives and Fair Value Measurements," for further details on derivatives. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (or exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The accounting guidance establishes a fair value hierarchy based on three levels of inputs that may be used to measure fair value. The input levels are: Level 1: Quoted (observable) market prices in active markets for identical assets or liabilities. Level 2: Inputs other than Level 1 that are observable, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the asset or liability.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Jan. 02, 2016
Inventory, Net [Abstract]
Schedule Of Inventories	Inventories as of January 2, 2016 and October 3, 2015 consisted of (in thousands): January 2, October 3, Raw materials $ 393,733 $ 407,637 Work-in-process 69,443 84,472 Finished goods 86,325 77,262 Total inventories $ 549,501 $ 569,371

Debt, Capital Lease Obligations

Debt, Capital Lease Obligations and Other Financing Debt (Tables)	3 Months Ended
	Jan. 02, 2016
Debt Disclosure [Abstract]
Schedule Of Debt And Capital Lease Obligations	Debt, capital lease obligations and other financing amounts outstanding at January 2, 2016 and October 3, 2015 are summarized below (in thousands): January 2, October 3, Borrowings under the credit facility $ 75,000 $ 75,000 5.20% Senior Notes, due June 15, 2018 175,000 175,000 Capital lease obligations 3,897 4,560 Non-cash financing of leased facility 8,256 8,210 Total obligations 262,153 262,770 Less: current portion (2,864 ) (3,513 ) Long-term debt and capital lease obligations, net of current portion $ 259,289 $ 259,257

Derivatives And Fair Value Me22

Derivatives And Fair Value Measurements (Tables)	3 Months Ended
	Jan. 02, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule Of Fair Values Of Derivative Instruments	The tables below present information regarding the fair values of derivative instruments (as defined in Note 1, "Basis of Presentation and Accounting Policies," ) and the effects of derivative instruments on the Company’s Condensed Consolidated Financial Statements: Fair Values of Derivative Instruments In thousands of dollars Asset Derivatives Liability Derivatives January 2, 2016 October 3, 2015 January 2, 2016 October 3, 2015 Derivatives designated as hedging instruments Balance Sheet Classification Fair Value Fair Value Balance Sheet Classification Fair Value Fair Value Interest rate swaps Prepaid expenses and other $ — $ — Current liabilities – other $ 113 $ 497 Forward contracts Prepaid expenses and other $ — $ — Current liabilities – other $ 3,967 $ 9,408
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location	Fair Values of Derivative Instruments In thousands of dollars Asset Derivatives Liability Derivatives January 2, 2016 October 3, 2015 January 2, 2016 October 3, 2015 Derivatives not designated as hedging instruments Balance Sheet Classification Fair Value Fair Value Balance Sheet Classification Fair Value Fair Value Forward contracts Prepaid expenses and other $ 66 $ — Current liabilities – other $ 29 $ —
Schedule Of The Effect Of Derivative On Accumulated Other Comprehensive Income	Derivative Impact on Accumulated Other Comprehensive Loss for the Three Months Ended In thousands of dollars Amount of Gain (Loss) Recognized in Other Comprehensive Income (“OCI”) on Derivatives (Effective Portion) Derivatives in Cash Flow Hedging Relationships January 2, 2016 January 3, 2015 Interest rate swaps $ 257 $ (310 ) Forward contracts $ 2,289 $ (4,256 )
Reclassification out of Accumulated Other Comprehensive Income	Derivative Impact on Gain (Loss) Recognized in Income for the Three Months Ended In thousands of dollars Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) Derivatives in Cash Flow Hedging Relationships Classification of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) January 2, 2016 January 3, 2015 Interest rate swaps Interest expense $ (127 ) $ (137 ) Forward contracts Selling and administrative expenses $ (323 ) $ 12 Forward contracts Cost of goods sold $ (2,829 ) $ 113 Treasury rate locks Interest expense $ 81 $ 86 Income tax expense Income tax benefit $ — $ 4 Amount of Gain on Derivatives Recognized in Income Derivatives Not Designated as Hedging Instruments Location of Gain Recognized on Derivatives in Income January 2, 2016 January 3, 2015 Forward contracts Other income $ 37 $ 158
Schedule Of Fair Value Measurements Using Input Levels Asset/(Liability)	The following table lists the fair values of liabilities of the Company’s derivatives as of January 2, 2016 and October 3, 2015 , by input level as defined in Note 1, "Basis of Presentation and Accounting Policies," (in thousands): Level 1 Level 2 Level 3 Total January 2, 2016 Interest rate swaps $ — $ (113 ) $ — $ (113 ) Foreign currency forward contracts $ — $ (3,930 ) $ — $ (3,930 ) October 3, 2015 Interest rate swaps $ — $ (497 ) $ — $ (497 ) Foreign currency forward contracts $ — $ (9,408 ) $ — $ (9,408 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Jan. 02, 2016
Earnings Per Share [Abstract]
Schedule Of Reconciliation Of Amounts Utilized In Computation Of Basic And Diluted Earnings Per Share	The following is a reconciliation of the amounts utilized in the computation of basic and diluted earnings per share for the three months ended January 2, 2016 and January 3, 2015 (in thousands, except per share amounts): Three Months Ended January 2, January 3, Net income $ 14,448 $ 23,079 Basic weighted average common shares outstanding 33,396 33,602 Dilutive effect of share-based awards outstanding 666 837 Diluted weighted average shares outstanding 34,062 34,439 Earnings per share: Basic $ 0.43 $ 0.69 Diluted $ 0.42 $ 0.67

Reportable Segments(Tables)

Reportable Segments(Tables)	3 Months Ended
	Jan. 02, 2016
Segment Reporting [Abstract]
Schedule Of Financial Information About Company's Reportable Segments	Information about the Company’s three reportable segments for the three months ended January 2, 2016 and January 3, 2015 is as follows (in thousands): Three Months Ended January 2, January 3, Net sales: AMER $ 305,097 $ 335,262 APAC 299,346 333,377 EMEA 42,087 28,079 Elimination of inter-segment sales (29,866 ) (32,028 ) $ 616,664 $ 664,690 Operating income (loss): AMER $ 8,386 $ 19,752 APAC 36,952 41,781 EMEA (735 ) (3,831 ) Corporate and other costs (23,079 ) (28,919 ) $ 21,524 $ 28,783 Other income (expense): Interest expense $ (3,534 ) $ (3,777 ) Interest income 932 897 Miscellaneous (1,620 ) 138 Income before income taxes $ 17,302 $ 26,041 January 2, October 3, Total assets: AMER $ 546,784 $ 573,437 APAC 1,008,975 1,011,622 EMEA 128,150 128,306 Corporate and eliminations (31,869 ) (10,977 ) $ 1,652,040 $ 1,702,388

Guarantees (Tables)

Guarantees (Tables)	3 Months Ended
	Jan. 02, 2016
Guarantees [Abstract]
Schedule Of Limited Warranty Liability	Below is a table summarizing the activity related to the Company’s limited warranty liability for fiscal 2015 and for the three months ended January 2, 2016 (in thousands): Limited warranty liability, as of September 27, 2014 $ 6,803 Accruals for warranties issued during the period 1,742 Settlements (in cash or in kind) during the period (2,698 ) Limited warranty liability, as of October 3, 2015 5,847 Accruals for warranties issued during the period 424 Settlements (in cash or in kind) during the period (637 ) Limited warranty liability, as of January 2, 2016 $ 5,634

Restructuring Costs (Tables)

Restructuring Costs (Tables)	3 Months Ended
	Jan. 02, 2016
Restructuring Costs [Abstract]
Restructuring and Related Costs [Table Text Block]	The Company's restructuring accrual activity for the three months ended January 2, 2016 is included in the table below (in thousands): Employee Termination and Severance Costs Other Exit Costs Total Accrued balance, October 3, 2015 $ — $ — $ — Restructuring costs 1,394 113 1,507 Amounts utilized (338 ) (113 ) (451 ) Accrued balance, January 2, 2016 $ 1,056 $ — $ 1,056

Basis Of Presentation And Acc27

Basis Of Presentation And Accounting Policies (Details) - USD ($) $ in Millions	Jan. 02, 2016	Oct. 03, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fair value of long-term debt	$ 249.3	$ 250.2
Long-term Debt	$ 250	$ 250

Inventories (Schedule Of Invent

Inventories (Schedule Of Inventories) (Details) - USD ($) $ in Thousands	Jan. 02, 2016	Oct. 03, 2015
Inventory, Net [Abstract]
Customer Deposits Related To Inventory	$ 60,000	$ 64,300
Raw materials	393,733	407,637
Work-in-process	69,443	84,472
Finished goods	86,325	77,262
Inventory, net	$ 549,501	$ 569,371

Inventory (Narrative) (Details)

Inventory (Narrative) (Details) - USD ($) $ in Millions	Jan. 02, 2016	Oct. 03, 2015
Customer Deposits Related To Inventory	$ 60	$ 64.3

Debt, Capital Lease Obligatio30

Debt, Capital Lease Obligations And Other Financing (Schedule Of Debt And Capital Lease Obligations) (Details) - USD ($) $ in Thousands	Jan. 02, 2016	Oct. 03, 2015
Debt Instrument [Line Items]
Senior Notes, principal outstanding	$ 175,000	$ 175,000
Debt and Capital Lease Obligations	262,153	262,770
Current portion of long-term debt and capital lease obligations	(2,864)	(3,513)
Long-term Debt, Capital Lease Obligations and other financing, net of current portion	259,289	259,257
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	75,000	75,000
Other Debt Obligations [Member]
Debt Instrument [Line Items]
Capital Lease Obligations	3,897	4,560
Guadalajara [Member]
Debt Instrument [Line Items]
Capital Lease Obligations	$ 8,256	$ 8,210

Debt, Capital Lease Obligatio31

Debt, Capital Lease Obligations And Other Financing (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 02, 2016	Jan. 03, 2015	Oct. 03, 2015
Line of Credit Facility, Expiration Date	May 15, 2019
Line of Credit Facility, Increase (Decrease), Other, Net	$ 30,000
Current borrowing capacity	265,000
Maximum borrowing capacity	335,000
Line of Credit Facility, Average Outstanding Amount	173,500
Borrowings under credit facility	139,000	$ 152,000
Senior Notes	175,000		$ 175,000
Revolving Credit Facility [Member]
Borrowings under credit facility	$ 139,000
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	1.00%
Debt Instrument, Description of Variable Rate Basis	LIBOR
Debt Instrument, Interest Rate During Period	1.125%
Debt Instrument, Interest Rate, Effective Percentage	1.394%
Long-term Line of Credit, Noncurrent	$ 75,000
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.175%
Revolving Credit Facility [Member] | Maximum [Member]
LineOfCreditFacilityHighestDailyBorrowing	$ 204,000
Senior Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	5.20%
Debt Instrument, Maturity Date	Jun. 15, 2018
Interest Rate Swap [Member]
Derivative, Notional Amount	$ 75,000		$ 75,000

Derivatives And Fair Value Me32

Derivatives And Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 02, 2016	Oct. 03, 2015
Revolving Credit Facility [Member]
Derivatives And Fair Value Measurements [Line Items]
Long-term Line of Credit, Noncurrent	$ 75,000
Not Designated as Hedging Instrument [Member]
Derivatives And Fair Value Measurements [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	100	$ 0
Foreign Exchange Forward [Member] | Derivatives Designated As Hedging Instruments [Member]
Derivatives And Fair Value Measurements [Line Items]
Cash flow hedge loss to be reclassified within twelve months	4,000
Foreign Exchange Forward [Member] | Derivatives Designated As Hedging Instruments [Member] | MALAYSIA
Derivatives And Fair Value Measurements [Line Items]
Derivative, Notional Amount	67,400	67,000
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member]
Derivatives And Fair Value Measurements [Line Items]
Derivative, Notional Amount	50,900	0
Interest Rate Swaps [Member]
Derivatives And Fair Value Measurements [Line Items]
Derivative, Notional Amount	$ 75,000	75,000
Fixed interest rate	0.875%
Interest Rate Cash Flow Hedge Liability at Fair Value	$ 113	$ 497

Derivatives And Fair Value Me33

Derivatives And Fair Value Measurements (Schedule Of Fair Values Of Derivative Instruments) (Details) - USD ($) $ in Thousands	Jan. 02, 2016	Oct. 03, 2015
Interest Rate Swap [Member]
Derivatives And Fair Value Measurements [Line Items]
Interest Rate Cash Flow Hedge Liability at Fair Value	$ 113	$ 497
Interest Rate Swap [Member] | Derivatives Designated As Hedging Instruments [Member] | Prepaid Expenses and Other Current Assets [Member]
Derivatives And Fair Value Measurements [Line Items]
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net	0	0
Interest Rate Swap [Member] | Derivatives Designated As Hedging Instruments [Member] | Current Liabilities - Other [Member]
Derivatives And Fair Value Measurements [Line Items]
Interest Rate Cash Flow Hedge Liability at Fair Value	113	497
Forward Contracts [Member] | Derivatives Designated As Hedging Instruments [Member] | Prepaid Expenses and Other Current Assets [Member]
Derivatives And Fair Value Measurements [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	0	0
Forward Contracts [Member] | Derivatives Designated As Hedging Instruments [Member] | Current Liabilities - Other [Member]
Derivatives And Fair Value Measurements [Line Items]
Foreign Currency Cash Flow Hedge Liability at Fair Value	$ 4,000	$ 9,400

Derivatives and Fair Value Me34

Derivatives and Fair Value Measurements (Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location) (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	Jan. 02, 2016	Oct. 03, 2015
Derivatives, Fair Value [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	$ 100	$ 0
Forward Contracts [Member] | Prepaid Expenses and Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	66	0
Forward Contracts [Member] | Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure	$ 29	$ 0

Derivatives And Fair Value Me35

Derivatives And Fair Value Measurements Derivatives and Fair Value Measurements (Schedule Of The Effect Of Derivatives On Accumulated Other Comprehensive Income) - Cash Flow Hedging [Member] - USD ($) $ in Thousands	3 Months Ended
	Jan. 02, 2016	Jan. 03, 2015
Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	$ 257	$ (310)
Foreign Exchange Forward [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	$ 2,289	$ (4,256)

Derivatives And Fair Value Me36

Derivatives And Fair Value Measurements (Schedule Of The Effect Of Derivative Instruments On The Condensed Statements Of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 02, 2016	Jan. 03, 2015
Other Income [Member]
Derivatives And Fair Value Measurements [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain	$ 37	$ 158
Cash Flow Hedging [Member] | Income Tax (Benefit) Expense [Member]
Derivatives And Fair Value Measurements [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	0	4
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Interest Expense [Member]
Derivatives And Fair Value Measurements [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	(127)	(137)
Cash Flow Hedging [Member] | Foreign Exchange Forward [Member] | General and Administrative Expense [Member]
Derivatives And Fair Value Measurements [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	(323)	12
Cash Flow Hedging [Member] | Foreign Exchange Forward [Member] | Cost of Sales [Member]
Derivatives And Fair Value Measurements [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	(2,829)	113
Cash Flow Hedging [Member] | Treasury Lock [Member] | Interest Expense [Member]
Derivatives And Fair Value Measurements [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	$ 81	$ 86

Derivatives And Fair Value Me37

Derivatives And Fair Value Measurements (Schedule Of Fair Value Measurements Using Input Levels Asset/(Liability)) (Details) - USD ($) $ in Thousands	Jan. 02, 2016	Oct. 03, 2015
Interest Rate Swaps [Member]
Derivatives And Fair Value Measurements [Line Items]
Interest Rate Cash Flow Hedge Liability at Fair Value	$ (113)	$ (497)
Foreign Currency Forward Contracts [Member]
Derivatives And Fair Value Measurements [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure	(3,930)	(9,408)
Fair Value, Inputs, Level 1 [Member] | Interest Rate Swaps [Member]
Derivatives And Fair Value Measurements [Line Items]
Interest Rate Cash Flow Hedge Liability at Fair Value	0	0
Fair Value, Inputs, Level 1 [Member] | Foreign Currency Forward Contracts [Member]
Derivatives And Fair Value Measurements [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swaps [Member]
Derivatives And Fair Value Measurements [Line Items]
Interest Rate Cash Flow Hedge Liability at Fair Value	(113)	(497)
Fair Value, Inputs, Level 2 [Member] | Foreign Currency Forward Contracts [Member]
Derivatives And Fair Value Measurements [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure	(3,930)	(9,408)
Fair Value, Inputs, Level 3 [Member] | Interest Rate Swaps [Member]
Derivatives And Fair Value Measurements [Line Items]
Interest Rate Cash Flow Hedge Liability at Fair Value	$ 0	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 02, 2016	Jan. 03, 2015
Income Tax Expense (Benefit), Continuing Operations [Abstract]
Income tax expense	$ 2,854	$ 2,962
Effective tax rates	16.50%	11.40%

Earnings Per Share (Schedule Of

Earnings Per Share (Schedule Of Reconciliation Of Amounts Utilized In Computation Of Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jan. 02, 2016	Jan. 03, 2015
Earnings Per Share [Line Items]
Net income	$ 14,448	$ 23,079
Basic weighted average common shares outstanding	33,396	33,602
Dilutive effect of share-based awards outstanding	666	837
Diluted weighted average shares outstanding	34,062	34,439
Earnings per share, Basic	$ 0.43	$ 0.69
Earnings per share, Diluted	$ 0.42	$ 0.67
Stock Options [Member]
Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share	800	600

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 02, 2016	Jan. 03, 2015
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Allocated Share-based Compensation Expense	$ 3.4	$ 3.7
Performance Shares [Member] | Minimum [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	0
Performance Shares [Member] | Maximum [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	200,000

Business Segments (Schedule Of

Business Segments (Schedule Of Financial Information About Company's Reportable Segments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 02, 2016	Jan. 03, 2015	Oct. 03, 2015
Segment Reporting Information [Line Items]
Net sales	$ 616,664	$ 664,690
Operating income (loss)	21,524	28,783
Interest expense	(3,534)	(3,777)
Interest income	932	897
Miscellaneous	(1,620)	138
Income before income taxes	17,302	26,041
Total assets	1,652,040		$ 1,702,388
AMER [Member]
Segment Reporting Information [Line Items]
Net sales	305,097	335,262
Operating income (loss)	8,386	19,752
Total assets	546,784		573,437
APAC [Member]
Segment Reporting Information [Line Items]
Net sales	299,346	333,377
Operating income (loss)	36,952	41,781
Total assets	1,008,975		1,011,622
EMEA [Member]
Segment Reporting Information [Line Items]
Net sales	42,087	28,079
Operating income (loss)	(735)	(3,831)
Total assets	128,150		128,306
Intersegment Elimination [Member]
Segment Reporting Information [Line Items]
Net sales	(29,866)	(32,028)
Corporate [Member]
Segment Reporting Information [Line Items]
Operating income (loss)	(23,079)	$ (28,919)
Total assets	$ (31,869)		$ (10,977)

Guarantees (Details)

Guarantees (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Jan. 02, 2016USD ($)mo	Oct. 03, 2015USD ($)
Limited warranty liability, beginning balance	$ 5,847	$ 6,803
Accruals for warranties issued during the period	424	1,742
Settlements (in cash or in kind) during the period	(637)	(2,698)
Limited warranty liability, ending balance	$ 5,634	$ 5,847
Minimum [Member]
Product Warranty Specification Period | mo	12
Maximum [Member]
Product Warranty Specification Period | mo	24

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Jan. 02, 2016	Jan. 03, 2015	Oct. 03, 2015	Aug. 20, 2015	Aug. 13, 2014
Stockholders' Equity Note [Abstract]
Stock Repurchase Program, Authorized Amount				$ 30,000	$ 30,000
Stock Repurchased During Period, Shares	227,312	187,819	745,227
Repurchases of common stock	$ 8,463	$ 7,289	$ 30,000
Average price of repurchased shares	$ 37.23	$ 38.81	$ 40.26

Restructuring Costs (Narrative)

Restructuring Costs (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 02, 2016	Jan. 03, 2015
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 1,507	$ 1,691
Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	5,000
Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	7,000
Fremont and Livingston Restructuring Plan [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	1,507
Juarez Restructuring Plan [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		1,700
Employee Severance [Member] | Fremont and Livingston Restructuring Plan [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	1,394
Employee Severance [Member] | Juarez Restructuring Plan [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		100
Other Restructuring [Member] | Fremont and Livingston Restructuring Plan [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 113
Facility Closing [Member] | Juarez Restructuring Plan [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		$ 1,500

Restructuring Costs (Details)

Restructuring Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 02, 2016	Jan. 03, 2015
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 0
Restructuring Charges	1,507	$ 1,691
Restructuring Reserve, Accrual Adjustment	(451)
Restructuring Reserve	1,056
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0
Restructuring Reserve, Accrual Adjustment	(338)
Restructuring Reserve	1,056
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0
Restructuring Reserve, Accrual Adjustment	(113)
Restructuring Reserve	0
Restructuring Charges [Member] | Fremont and Livingston Restructuring Plan [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	1,507
Restructuring Charges [Member] | Fremont and Livingston Restructuring Plan [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	1,394
Restructuring Charges [Member] | Fremont and Livingston Restructuring Plan [Member] | Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 113