Plexus (PLXS) 10-Q 3 Feb 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Dec. 31, 2016	Jan. 31, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Entity Registrant Name	PLEXUS CORP
Entity Central Index Key	785,786
Current Fiscal Year End Date	--09-30
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		33,691,275

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2016	Jan. 02, 2016
Income Statement [Abstract]
Net sales	$ 635,019	$ 616,664
Cost of sales	(570,663)	(566,605)
Gross profit	64,356	50,059
Selling and administrative expenses	30,453	27,028
Restructuring and other charges	0	1,507
Operating income	33,903	21,524
Other income (expense):
Interest expense	(3,274)	(3,534)
Interest Income	1,071	932
Miscellaneous	(674)	(1,620)
Income before income taxes	31,026	17,302
Income tax expense	2,847	2,854
Net income	$ 28,179	$ 14,448
Earnings per share:
Basic	$ 0.84	$ 0.43
Diluted	$ 0.82	$ 0.42
Weighted average shares outstanding:
Basic	33,534	33,396
Diluted	34,544	34,062
Comprehensive income:
Net income	$ 28,179	$ 14,448
Derivative instrument fair value adjustments	(5,403)	5,744
Foreign currency translation adjustments	(11,359)	(6,606)
Other comprehensive loss	(16,762)	(862)
Total comprehensive income	$ 11,417	$ 13,586

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Oct. 01, 2016
Current assets:
Cash and cash equivalents	$ 496,505	$ 432,964
Restricted cash	1,342	0
Accounts receivable, net of allowances of $2,517 and $2,368, respectively	343,661	416,888
Inventories	564,813	564,131
Prepaid expenses and other	24,066	19,364
Total current assets	1,430,387	1,433,347
Property, plant and equipment, net	284,968	291,225
Deferred income taxes	4,709	4,834
Other	36,115	36,413
Total non-current assets	325,792	332,472
Total assets	1,756,179	1,765,819
Current liabilities:
Current portion of long-term debt and capital lease obligations	78,879	78,507
Accounts payable	375,601	397,200
Customer deposits	83,491	84,637
Accrued salaries and wages	40,666	41,806
Other accrued liabilities	50,256	48,286
Total current liabilities	628,893	650,436
Long-term debt, capital lease obligations and other financing, net of current portion	184,136	184,002
Other liabilities	15,608	14,584
Total non-current liabilities	199,744	198,586
Liabilities	828,637	849,022
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, 51,516 and 51,272 shares issued, respectively, and 33,556 and 33,457 shares outstanding, respectively	515	513
Additional paid-in capital	537,034	530,647
Common stock held in treasury, at cost, 17,960 and 17,815 shares, respectively	(547,029)	(539,968)
Retained earnings	965,323	937,144
Accumulated other comprehensive loss	(28,301)	(11,539)
Total shareholders’ equity	927,542	916,797
Liabilities and Equity	$ 1,756,179	$ 1,765,819

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Jan. 02, 2016
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 2,517	$ 2,368
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	51,516,000	51,272,000
Common stock, shares outstanding	33,556,000	33,457,000
Treasury stock, shares	17,960,000	17,815,000

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Jan. 02, 2016
Cash flows from operating activities
Net income	$ 28,179	$ 14,448
Adjustments to reconcile net income to cash flows provided by operating activities:
Depreciation	11,449	12,029
Amortization of deferred financing fees	77	81
(Gain) loss on sale of property, plant and equipment	(111)	9
Share-based compensation expense	3,625	3,390
Changes in operating assets and liabilities:
Accounts receivable	68,537	22,290
Inventories	(5,570)	17,292
Other current and noncurrent assets	(4,808)	(345)
Accounts payable	(18,635)	(28,975)
Customer deposits	(417)	(9,168)
Other current and noncurrent liabilities	(2,875)	(9,785)
Cash flows provided by operating activities	79,451	21,266
Cash flows from investing activities
Payments for property, plant and equipment	(6,950)	(11,745)
Proceeds from sale of property, plant and equipment	124	14
Cash flows used in investing activities	(6,826)	(11,731)
Cash flows from financing activities
Borrowings under credit facility	73,597	139,000
Payments on debt and capital lease obligations	(73,475)	(140,196)
Debt issuance costs	0	(70)
Repurchases of common stock	(7,061)	(8,463)
Proceeds from exercise of stock options	5,124	10
Minimum tax withholding related to vesting of restricted stock	(2,360)	0
Cash flows used in financing activities	(4,175)	(9,719)
Effect of exchange rate changes on cash and cash equivalents	(3,567)	(2,194)
Net increase (decrease) in cash, cash equivalents and restricted cash	64,883	(2,378)
Cash, cash equivalents and restricted cash:
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning of Period	432,964	357,106
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, End of Period	$ 497,847	$ 354,728

Basis Of Presentation and Signi

Basis Of Presentation and Significant Accounting Policies	3 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Presentation And Significant 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 December 31, 2016 and October 1, 2016 , and the results of operations for the three months ended December 31, 2016 and January 2, 2016 , and the cash flows for the same three month periods. 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. All fiscal quarters presented herein 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 2016 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 $251.0 million and $251.4 million as of December 31, 2016 and October 1, 2016 , respectively. The carrying value of the Company’s long-term debt was $250.0 million as of both December 31, 2016 and October 1, 2016 . 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
	Dec. 31, 2016
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories as of December 31, 2016 and October 1, 2016 consisted of (in thousands): December 31, October 1, Raw materials $ 417,635 $ 414,303 Work-in-process 66,763 69,423 Finished goods 80,415 80,405 Total inventories $ 564,813 $ 564,131 Customer deposits are received by the Company for various reasons, including to offset certain 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 December 31, 2016 and October 1, 2016 was $79.8 million and $74.6 million , respectively.

Debt, Capital Lease Obligations

Debt, Capital Lease Obligations and Other Financing	3 Months Ended
	Dec. 31, 2016
Debt and Capital Lease Obligations [Abstract]
Debt, Capital Lease Obligations And Other Financing	Debt, Capital Lease Obligations and Other Financing Debt, capital lease and other obligations as of December 31, 2016 and October 1, 2016 , consisted of the following (in thousands): December 31, October 1, Borrowing under the credit facility $ 75,000 $ 75,000 5.20% senior notes, due June 15, 2018 175,000 175,000 Capital lease, non-cash financing of leased facility and other obligations 14,043 13,614 Unamortized deferred financing fees (1,028 ) (1,105 ) Total obligations 263,015 262,509 Less: current portion (78,879 ) (78,507 ) Long-term debt and capital lease obligations, net of current portion $ 184,136 $ 184,002 The Company has a senior unsecured revolving credit facility (the “Credit Facility”) with a $300.0 million maximum commitment that expires on July 5, 2021 . The Credit Facility may be further increased to $500.0 million , generally by mutual agreement of the Company and the lenders, subject to certain customary conditions. During the three months ended December 31, 2016 , the highest daily borrowing was $138.0 million , the average daily borrowing was $117.0 million and the Company borrowed and repaid $73.0 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 December 31, 2016 , the Company was in compliance with all financial covenants of the Credit Agreement. Borrowings under the Credit Facility bear interest, at the Company’s option, at a eurocurrency or base rate plus, in each case, an applicable interest rate margin based on the Company’s then-current leverage ratio (as defined in the Credit Agreement). As of December 31, 2016 , the interest rate under the Credit Agreement was LIBOR plus 1.125% (or 1.760% ). As of December 31, 2016 , the $75.0 million of outstanding borrowing 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 daily unused revolver credit commitment based on the Company's leverage ratio; the fee was 0.175% as of December 31, 2016 . The Company also has outstanding 5.20% senior notes, due on June 15, 2018 (the “Notes”). As of December 31, 2016 and October 1, 2016 , $175.0 million of Notes 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.

Derivatives And Fair Value Meas

Derivatives And Fair Value Measurements	3 Months Ended
	Dec. 31, 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 $5.9 million of unrealized losses , net of tax, related to cash flow hedges 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 "Miscellaneous 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 $67.7 million as of December 31, 2016 and $73.7 million as of October 1, 2016 . 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 $5.9 million liability as of December 31, 2016 and a $0.5 million liability as of October 1, 2016 . The Company had additional forward currency exchange contracts outstanding with a notional value of $111.2 million as of December 31, 2016 and $109.6 million as of October 1, 2016 . The Company did not designate 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 "Miscellaneous income (expense)." The total fair value of these derivatives was a net $0.7 million liability as of December 31, 2016 and a net $0.1 million asset as of October 1, 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 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 both December 31, 2016 and October 1, 2016 , was approximately a $0.1 million liability. The notional amount of the Company’s interest rate swap was $75.0 million as of both December 31, 2016 and October 1, 2016 . The tables below present information regarding the fair values of derivative instruments (as defined in Note 1, "Basis of Presentation and Significant 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 December 31, 2016 October 1, 2016 December 31, 2016 October 1, 2016 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 $ — $ — Other accrued liabilities $ 36 $ 132 Foreign currency forward contracts Prepaid expenses and other $ — $ — Other accrued liabilities $ 5,906 $ 486 Fair Values of Derivative Instruments In thousands of dollars Asset Derivatives Liability Derivatives December 31, 2016 October 1, 2016 December 31, 2016 October 1, 2016 Derivatives Not Designated as Hedging Instruments Balance Sheet Classification Fair Value Fair Value Balance Sheet Classification Fair Value Fair Value Foreign currency forward contracts Prepaid expenses and other $ 48 $ 182 Other accrued liabilities $ 722 $ 130 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 (Loss) (“OCI”) on Derivatives (Effective Portion) Derivatives in Cash Flow Hedging Relationships December 31, 2016 January 2, 2016 Interest rate swaps $ (11 ) $ 257 Foreign currency forward contracts $ (5,218 ) $ 2,289 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) December 31, 2016 January 2, 2016 Interest rate swaps Interest expense $ (107 ) $ (127 ) Foreign currency forward contracts Selling and administrative expenses $ 21 $ (323 ) Foreign currency forward contracts Cost of goods sold $ 181 $ (2,829 ) Treasury rate locks Interest expense $ 79 $ 81 Amount of Gain on Derivatives Recognized in Income Derivatives Not Designated as Hedging Instruments Location of Gain Recognized on Derivatives in Income December 31, 2016 January 2, 2016 Foreign currency forward contracts Miscellaneous income (expense) $ 75 $ 37 There were no gains or losses recognized in income for derivatives related to ineffective portions or amounts excluded from effectiveness testing for the three months ended December 31, 2016 and January 2, 2016 . The following table lists the fair values of liabilities of the Company’s derivatives as of December 31, 2016 and October 1, 2016 , by input level, as defined in Note 1, "Basis of Presentation and Significant Accounting Policies": Fair Value Measurements Using Input Levels Liability In thousands of dollars December 31, 2016 Level 1 Level 2 Level 3 Total Interest rate swaps $ — $ (36 ) $ — $ (36 ) Foreign currency forward contracts $ — $ (6,580 ) $ — $ (6,580 ) October 1, 2016 Interest rate swaps $ — $ (132 ) $ — $ (132 ) Foreign currency forward contracts $ — $ (434 ) $ — $ (434 ) 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
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense for the three months ended December 31, 2016 and January 2, 2016 was $2.8 million and $2.9 million , respectively. The effective tax rates for the three months ended December 31, 2016 and January 2, 2016 were 9.2 percent and 16.5 percent , respectively. The effective tax rate for the three months ended December 31, 2016 decreased from the effective tax rate for the three months ended January 2, 2016 , primarily due to an increase in pre-tax earnings in lower tax-rate jurisdictions and in jurisdictions where the Company maintains a valuation allowance. The Company’s effective tax rate will fluctuate with the geographic distribution of its worldwide earnings, changes in tax laws, disputes with taxing authorities, tax planning activities, adjustments to uncertain tax positions and changes in valuation allowances. There were no material additions to the amount of unrecognized tax benefits recorded for uncertain tax positions as of December 31, 2016 as compared to October 1, 2016 . 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 December 31, 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 December 31, 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 was more likely than not that these assets would 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
	Dec. 31, 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 December 31, 2016 and January 2, 2016 (in thousands, except per share amounts): Three Months Ended December 31, January 2, Net income $ 28,179 $ 14,448 Basic weighted average common shares outstanding 33,534 33,396 Dilutive effect of share-based awards outstanding 1,010 666 Diluted weighted average shares outstanding 34,544 34,062 Earnings per share: Basic $ 0.84 $ 0.43 Diluted $ 0.82 $ 0.42 For the three months ended December 31, 2016 and January 2, 2016 share-based awards for approximately 0.1 million and 0.8 million shares, respectively, were not included in the computation of diluted earnings per share because they were anti-dilutive.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Dec. 31, 2016
Share-based Compensation [Abstract]
Share-Based Compensation	Share-Based Compensation The Company recognized $3.6 million and $3.4 million of compensation expense associated with share-based awards for the three months ended December 31, 2016 and January 2, 2016 , respectively. The Company uses the Black-Scholes valuation model to determine the fair value of stock options and stock-settled stock appreciation rights ("SARs"). The Company uses its stock price on grant date as the fair value assigned to 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 granted in fiscal 2016 and prior years are payable in shares and vest based on the relative total shareholder return ("TSR") 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 0.3 million . The Company recognizes share-based compensation expense over the share-based awards' vesting period.

Litigation

Litigation	3 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Litigation	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
	Dec. 31, 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 other 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 December 31, 2016 and January 2, 2016 , respectively, is as follows (in thousands): Three Months Ended December 31, January 2, Net sales: AMER $ 314,651 $ 305,097 APAC 309,969 299,346 EMEA 39,449 42,087 Elimination of inter-segment sales (29,050 ) (29,866 ) $ 635,019 $ 616,664 Operating income (loss): AMER $ 14,797 $ 8,386 APAC 48,240 36,952 EMEA (2,235 ) (735 ) Corporate and other costs (26,899 ) (23,079 ) $ 33,903 $ 21,524 Other income (expense): Interest expense $ (3,274 ) $ (3,534 ) Interest income 1,071 932 Miscellaneous (674 ) (1,620 ) Income before income taxes $ 31,026 $ 17,302 December 31, October 1, Total assets: AMER $ 521,705 $ 590,850 APAC 1,034,237 1,009,917 EMEA 131,014 136,636 Corporate and eliminations 69,223 28,416 $ 1,756,179 $ 1,765,819

Guarantees

Guarantees	3 Months Ended
	Dec. 31, 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, customer 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 2016 and the three months ended December 31, 2016 (in thousands): Limited warranty liability, as of October 3, 2015 $ 5,847 Accruals for warranties issued during the period 1,777 Settlements (in cash or in kind) during the period (1,515 ) Limited warranty liability, as of October 1, 2016 6,109 Accruals for warranties issued during the period — Settlements (in cash or in kind) during the period (1,252 ) Limited warranty liability, as of December 31, 2016 $ 4,857

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders' Equity On June 6, 2016, the Board of Directors approved a stock repurchase program under which the Company is authorized to repurchase up to $ 150.0 million of its common stock beginning in fiscal 2017. During the three months ended December 31, 2016 , the Company repurchased 144,729 shares for approximately $7.1 million , at an average price of $48.79 per share. 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. All shares repurchased under the aforementioned programs were recorded as treasury stock.

Trade Accounts Receivable Sale

Trade Accounts Receivable Sale Programs	3 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
Trade Accounts Receivable Sale Programs	Trade Accounts Receivable Sale Programs On October 4, 2016, the Company entered into a Master Accounts Receivable Purchase Agreement (the “RPA”) with The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch (the “Purchaser”), which agreement was subsequently amended and restated as of December 14, 2016. Pursuant to the RPA, the Company and certain of its subsidiaries (each, a “Seller”) may sell to the Purchaser up to an aggregate of $100.0 million in accounts receivable owed to such Sellers by specified customers. In exchange, the Purchaser pays a purchase price for each purchased receivable equal to the net face value of the receivable less an agreed upon discount. The facility represented by the RPA is non-committed, meaning that the Company and each other Seller acknowledge that they have not paid a commitment or comparable fee to the Purchaser, and that the Purchaser does not have a continuing obligation to purchase any receivable from any Seller. The Purchaser pays an agreed-upon servicing fee to each Seller with respect to each purchased receivable sold by such Seller, consistent with common market practices. The RPA contains representations, warranties, covenants, and termination events that are customary for factoring transactions of this type. The RPA is subject to expiration on October 3, 2017, but will be automatically extended each year unless any party gives no less than 10 days prior notice that the agreement should not be extended. During the three months ended January 2, 2016 , the Company sold receivables under a former trade accounts receivable sale program that expired during the first fiscal quarter of 2017. Transfers of receivables under the programs are accounted for as sales and, accordingly, receivables sold under the programs are excluded from accounts receivable on the Condensed Consolidated Balance Sheets and are reflected as cash provided by operating activities on the Condensed Consolidated Statements of Cash Flows. Proceeds from the transfer reflect the face value of the receivables less a discount. The discount is recorded within "Miscellaneous expense" in the Condensed Consolidated Statements of Comprehensive Income in the period of the sale. The Company sold $77.8 million and $22.3 million of trade accounts receivable during the three months ended December 31, 2016 and January 2, 2016 , respectively, and in exchange, received cash proceeds of $77.4 million and $22.1 million , respectively.

Restructuring and Other Charges

Restructuring and Other Charges	3 Months Ended
	Dec. 31, 2016
Restructuring and Related Activities [Abstract]
Restructuring and Other Charges	Restructuring and Other Charges The Company incurred no restructuring and other charges during the three months ended December 31, 2016 . For the three months ended January 2, 2016 , the Company incurred restructuring and other charges of $1.5 million , which consisted of $1.4 million of employee termination and severance costs and $0.1 million of other exit costs. The restructuring accrual balance is expected to be utilized by the end of the second fiscal quarter of 2017. The restructuring and other charges for the three months ended January 2, 2016 , were incurred primarily in the AMER segment and related 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 better reflect customer demand. The Company also recorded restructuring and other charges 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 and other charges" on the Condensed Consolidated Statements of Comprehensive Income. Restructuring liabilities are recorded within "Other accrued liabilities" in the Condensed Consolidated Balance Sheets. In the three months ended December 31, 2016 and January 2, 2016 , the Company did not recognize an income tax benefit for these restructuring and other charges due to tax losses in the jurisdictions where the restructuring and other charges occurred. The Company's restructuring accrual activity for fiscal 2016 and the three months ended December 31, 2016 follows (in thousands): Employee Termination and Severance Costs Other Exit Costs Total Accrued balance, October 3, 2015 $ — $ — $ — Restructuring and other charges $ 5,255 $ 1,779 $ 7,034 Amounts utilized $ (4,571 ) $ (1,621 ) $ (6,192 ) Accrued balance, October 1, 2016 $ 684 $ 158 $ 842 Restructuring and other charges — — — Amounts utilized (525 ) (106 ) (631 ) Accrued balance, December 31, 2016 $ 159 $ 52 $ 211

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Dec. 31, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements In November 2016, the Financial Accounting Standards Board (“FASB”) issued amendments to its guidance to address the classifications and presentation of changes in restricted cash in the statement of cash flows. The Company adopted this guidance retrospectively during the first quarter of fiscal 2017 and, as a result, the Company included restricted cash within the Consolidated Statement of Cash Flows, which was not material. The retrospective adoption did not impact the prior period Consolidated Statement of Cash Flows since there was no restricted cash during any of the prior periods presented. Amounts included in restricted cash represent cash received from customers to settle invoices sold under the RPA and is therefore contractually required to be set aside. The restrictions will lapse when the cash is remitted to the purchaser. In October 2016, the FASB issued a new accounting standard to improve the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. The new standard eliminates the exception for an intra-entity transfer of an asset other than inventory and requires an entity to recognize the income tax consequences when the transfer occurs. This guidance is effective for the Company beginning in the first quarter of fiscal year 2019 and early adoption is permitted. This guidance should be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company is currently assessing the impact this new standard may have on its Consolidated Financial Statements. In March 2016, the FASB issued guidance that changes the accounting for certain aspects of share-based payments to employees. The guidance requires the recognition of the income tax effects of awards in the income statement when the awards vest or are settled, thus eliminating additional paid-in capital pools. The guidance also allows for the employer to repurchase more of an employee’s shares for tax withholding purposes without triggering liability accounting. In addition, the guidance allows for a policy election to account for forfeitures as they occur rather than on an estimated basis. The Company adopted this guidance prospectively during the first fiscal quarter of 2017. As such, beginning in the first fiscal quarter of 2017, the Company recognizes all excess tax benefits and tax deficiencies as income tax benefit or expense as a discrete item. An income tax benefit of approximately $4.9 million was recognized upon adoption and in the first fiscal quarter of 2017 a benefit of $0.6 million was also recognized. Due to the Company having a valuation allowance in the jurisdictions in which the income tax benefit was recorded, the income tax benefit was directly offset by an increase to the Company's valuation allowance resulting in no financial statement impact. The adoption did not have any other material impacts and will not materially impact the Company's future financial statements as long as the Company remains in a valuation allowance in the jurisdictions in which share based compensation awards and options vest and are exercised, respectively. In February 2016, the FASB issued guidance that primarily requires lessees to recognize most leases on their balance sheets but record expenses on their income statements in a manner similar to current accounting. For lessors, the guidance modifies the classification criteria and the accounting for sales-type and direct financing leases. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early adoption is permitted. The Company is currently in the process of assessing the impact of the adoption of the new standard on its Consolidated Financial Statements and the timing of adoption. 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. The new standard will become effective 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. 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 Sig20

Basis Of Presentation and Significant Accounting Policies (Policy)	3 Months Ended
	Dec. 31, 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 December 31, 2016 and October 1, 2016 , and the results of operations for the three months ended December 31, 2016 and January 2, 2016 , and the cash flows for the same three month periods. 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. All fiscal quarters presented herein 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 2016 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 $251.0 million and $251.4 million as of December 31, 2016 and October 1, 2016 , respectively. The carrying value of the Company’s long-term debt was $250.0 million as of both December 31, 2016 and October 1, 2016 . 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
	Dec. 31, 2016
Inventory Disclosure [Abstract]
Schedule Of Inventories	Inventories as of December 31, 2016 and October 1, 2016 consisted of (in thousands): December 31, October 1, Raw materials $ 417,635 $ 414,303 Work-in-process 66,763 69,423 Finished goods 80,415 80,405 Total inventories $ 564,813 $ 564,131

Debt, Capital Lease Obligatio22

Debt, Capital Lease Obligations and Other Financing Debt, Capital Lease Obligations and Other Financing (Tables)	3 Months Ended
	Dec. 31, 2016
Debt and Capital Lease Obligations [Abstract]
Schedule Of Debt And Capital Lease Obligations	Debt, capital lease and other obligations as of December 31, 2016 and October 1, 2016 , consisted of the following (in thousands): December 31, October 1, Borrowing under the credit facility $ 75,000 $ 75,000 5.20% senior notes, due June 15, 2018 175,000 175,000 Capital lease, non-cash financing of leased facility and other obligations 14,043 13,614 Unamortized deferred financing fees (1,028 ) (1,105 ) Total obligations 263,015 262,509 Less: current portion (78,879 ) (78,507 ) Long-term debt and capital lease obligations, net of current portion $ 184,136 $ 184,002

Derivatives And Fair Value Me23

Derivatives And Fair Value Measurements (Tables)	3 Months Ended
	Dec. 31, 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 Significant 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 December 31, 2016 October 1, 2016 December 31, 2016 October 1, 2016 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 $ — $ — Other accrued liabilities $ 36 $ 132 Foreign currency forward contracts Prepaid expenses and other $ — $ — Other accrued liabilities $ 5,906 $ 486
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 December 31, 2016 October 1, 2016 December 31, 2016 October 1, 2016 Derivatives Not Designated as Hedging Instruments Balance Sheet Classification Fair Value Fair Value Balance Sheet Classification Fair Value Fair Value Foreign currency forward contracts Prepaid expenses and other $ 48 $ 182 Other accrued liabilities $ 722 $ 130
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 (Loss) (“OCI”) on Derivatives (Effective Portion) Derivatives in Cash Flow Hedging Relationships December 31, 2016 January 2, 2016 Interest rate swaps $ (11 ) $ 257 Foreign currency forward contracts $ (5,218 ) $ 2,289 Amount of Gain on Derivatives Recognized in Income Derivatives Not Designated as Hedging Instruments Location of Gain Recognized on Derivatives in Income December 31, 2016 January 2, 2016 Foreign currency forward contracts Miscellaneous income (expense) $ 75 $ 37
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) December 31, 2016 January 2, 2016 Interest rate swaps Interest expense $ (107 ) $ (127 ) Foreign currency forward contracts Selling and administrative expenses $ 21 $ (323 ) Foreign currency forward contracts Cost of goods sold $ 181 $ (2,829 ) Treasury rate locks Interest expense $ 79 $ 81
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 December 31, 2016 and October 1, 2016 , by input level, as defined in Note 1, "Basis of Presentation and Significant Accounting Policies": Fair Value Measurements Using Input Levels Liability In thousands of dollars December 31, 2016 Level 1 Level 2 Level 3 Total Interest rate swaps $ — $ (36 ) $ — $ (36 ) Foreign currency forward contracts $ — $ (6,580 ) $ — $ (6,580 ) October 1, 2016 Interest rate swaps $ — $ (132 ) $ — $ (132 ) Foreign currency forward contracts $ — $ (434 ) $ — $ (434 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Dec. 31, 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 December 31, 2016 and January 2, 2016 (in thousands, except per share amounts): Three Months Ended December 31, January 2, Net income $ 28,179 $ 14,448 Basic weighted average common shares outstanding 33,534 33,396 Dilutive effect of share-based awards outstanding 1,010 666 Diluted weighted average shares outstanding 34,544 34,062 Earnings per share: Basic $ 0.84 $ 0.43 Diluted $ 0.82 $ 0.42

Reportable Segments(Tables)

Reportable Segments(Tables)	3 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Schedule Of Financial Information About Company's Reportable Segments	December 31, October 1, Total assets: AMER $ 521,705 $ 590,850 APAC 1,034,237 1,009,917 EMEA 131,014 136,636 Corporate and eliminations 69,223 28,416 $ 1,756,179 $ 1,765,819 Information about the Company’s three reportable segments for the three months ended December 31, 2016 and January 2, 2016 , respectively, is as follows (in thousands): Three Months Ended December 31, January 2, Net sales: AMER $ 314,651 $ 305,097 APAC 309,969 299,346 EMEA 39,449 42,087 Elimination of inter-segment sales (29,050 ) (29,866 ) $ 635,019 $ 616,664 Operating income (loss): AMER $ 14,797 $ 8,386 APAC 48,240 36,952 EMEA (2,235 ) (735 ) Corporate and other costs (26,899 ) (23,079 ) $ 33,903 $ 21,524 Other income (expense): Interest expense $ (3,274 ) $ (3,534 ) Interest income 1,071 932 Miscellaneous (674 ) (1,620 ) Income before income taxes $ 31,026 $ 17,302

Guarantees (Tables)

Guarantees (Tables)	3 Months Ended
	Dec. 31, 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 2016 and the three months ended December 31, 2016 (in thousands): Limited warranty liability, as of October 3, 2015 $ 5,847 Accruals for warranties issued during the period 1,777 Settlements (in cash or in kind) during the period (1,515 ) Limited warranty liability, as of October 1, 2016 6,109 Accruals for warranties issued during the period — Settlements (in cash or in kind) during the period (1,252 ) Limited warranty liability, as of December 31, 2016 $ 4,857

Restructuring and Other Charg27

Restructuring and Other Charges (Tables)	3 Months Ended
	Dec. 31, 2016
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs [Table Text Block]	The Company's restructuring accrual activity for fiscal 2016 and the three months ended December 31, 2016 follows (in thousands): Employee Termination and Severance Costs Other Exit Costs Total Accrued balance, October 3, 2015 $ — $ — $ — Restructuring and other charges $ 5,255 $ 1,779 $ 7,034 Amounts utilized $ (4,571 ) $ (1,621 ) $ (6,192 ) Accrued balance, October 1, 2016 $ 684 $ 158 $ 842 Restructuring and other charges — — — Amounts utilized (525 ) (106 ) (631 ) Accrued balance, December 31, 2016 $ 159 $ 52 $ 211

Basis Of Presentation and Sig28

Basis Of Presentation and Significant Accounting Policies (Details) - USD ($) $ in Millions	Dec. 31, 2016	Oct. 01, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fair value of long-term debt	$ 251	$ 251.4
Long-term Debt	$ 250	$ 250

Inventories (Schedule Of Invent

Inventories (Schedule Of Inventories) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Oct. 01, 2016
Raw materials	$ 417,635	$ 414,303
Work-in-process	66,763	69,423
Finished goods	80,415	80,405
Inventory, net	$ 564,813	$ 564,131

Inventory (Narrative) (Details)

Inventory (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Oct. 01, 2016
Customer deposits	$ 83,491	$ 84,637
Inventories [Member]
Customer deposits	$ 79,800	$ 74,600

Debt, Capital Lease Obligatio31

Debt, Capital Lease Obligations And Other Financing (Schedule Of Debt And Capital Lease Obligations) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Oct. 01, 2016
Debt Instrument [Line Items]
Line of Credit, Current	$ 75,000	$ 75,000
Senior Notes, principal outstanding	175,000	175,000
Capital Lease Obligations	14,043	13,614
Debt Issuance Costs, Net	(1,028)	(1,105)
Debt and Capital Lease Obligations	$ 263,015	$ 262,509

Debt, Capital Lease Obligatio32

Debt, Capital Lease Obligations And Other Financing (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Jan. 02, 2016	Oct. 01, 2016
Line of Credit Facility, Current Borrowing Capacity	$ 300,000
Line of Credit Facility, Expiration Date	Jul. 5, 2021
Line of Credit Facility, Maximum Borrowing Capacity	$ 500,000
Line of Credit Facility, Average Outstanding Amount	117,000
Borrowings under credit facility	73,597	$ 139,000
Senior Notes	175,000		$ 175,000
Revolving Credit Facility [Member]
LineOfCreditFacilityHighestDailyBorrowing	138,000
Borrowings under credit facility	73,000
LineOfCreditFacilityHighestDailyBorrowing	$ 73,000
Debt Instrument, Description of Variable Rate Basis	LIBOR
Debt Instrument, Interest Rate During Period	1.125%
Debt Instrument, Interest Rate, Effective Percentage	1.76%
Line of Credit, Current	$ 75,000
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.175%
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 Me33

Derivatives And Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Oct. 01, 2016
Revolving Credit Facility [Member]
Derivatives And Fair Value Measurements [Line Items]
Line of Credit, Current	$ 75,000
Not Designated as Hedging Instrument [Member]
Derivatives And Fair Value Measurements [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure	674
Foreign Currency Contract, Asset, Fair Value Disclosure		$ 52
Foreign Exchange Forward [Member]
Derivatives And Fair Value Measurements [Line Items]
Cash flow hedge loss to be reclassified within twelve months	5,942
Foreign Currency Contracts, Liability, Fair Value Disclosure	6,580	434
Foreign Exchange Forward [Member] | Derivatives Designated As Hedging Instruments [Member] | MALAYSIA
Derivatives And Fair Value Measurements [Line Items]
Derivative, Notional Amount	67,700	73,700
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member]
Derivatives And Fair Value Measurements [Line Items]
Derivative, Notional Amount	111,200	109,600
Foreign Exchange Forward [Member] | Other Current Liabilities [Member]
Derivatives And Fair Value Measurements [Line Items]
Foreign Currency Cash Flow Hedge Liability at Fair Value	5,906	486
Foreign Exchange Forward [Member] | Other Current Liabilities [Member] | Not Designated as Hedging Instrument [Member]
Derivatives And Fair Value Measurements [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure	722	130
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	$ 36	132
Interest Rate Swaps [Member] | Other Current Liabilities [Member]
Derivatives And Fair Value Measurements [Line Items]
Interest Rate Cash Flow Hedge Liability at Fair Value	$ 36	$ 132

Derivatives And Fair Value Me34

Derivatives And Fair Value Measurements (Schedule Of Fair Values Of Derivative Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Oct. 01, 2016
Interest Rate Swap [Member]
Derivatives And Fair Value Measurements [Line Items]
Interest Rate Cash Flow Hedge Liability at Fair Value	$ 36	$ 132
Interest Rate Swap [Member] | Prepaid Expenses and Other Current Assets [Member]
Derivatives And Fair Value Measurements [Line Items]
Interest Rate Cash Flow Hedge Asset at Fair Value	0	0
Interest Rate Swap [Member] | Other Current Liabilities [Member]
Derivatives And Fair Value Measurements [Line Items]
Interest Rate Cash Flow Hedge Liability at Fair Value	36	132
Foreign Exchange Forward [Member] | Prepaid Expenses and Other Current Assets [Member]
Derivatives And Fair Value Measurements [Line Items]
Foreign Currency Cash Flow Hedge Asset at Fair Value	0	0
Foreign Exchange Forward [Member] | Other Current Liabilities [Member]
Derivatives And Fair Value Measurements [Line Items]
Foreign Currency Cash Flow Hedge Liability at Fair Value	$ 5,906	$ 486

Derivatives and Fair Value Me35

Derivatives and Fair Value Measurements (Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Oct. 01, 2016
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure		$ 52
Foreign Currency Contracts, Liability, Fair Value Disclosure	$ 674
Foreign Exchange Forward [Member]
Derivatives, Fair Value [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure	6,580	434
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | Prepaid Expenses and Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	48	182
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure	$ 722	$ 130

Derivatives And Fair Value Me36

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
	Dec. 31, 2016	Jan. 02, 2016
Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	$ (11)	$ 257
Foreign Exchange Forward [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	$ (5,218)	$ 2,289

Derivatives And Fair Value Me37

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
	Dec. 31, 2016	Jan. 02, 2016
Interest Expense [Member] | Cash Flow Hedging [Member] | Interest Rate Swap [Member]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	$ (107)	$ (127)
Interest Expense [Member] | Cash Flow Hedging [Member] | Treasury Lock [Member]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	79	81
General and Administrative Expense [Member] | Cash Flow Hedging [Member] | Foreign Exchange Forward [Member]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	21	(323)
Cost of Sales [Member] | Cash Flow Hedging [Member] | Foreign Exchange Forward [Member]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	181	(2,829)
Other Income [Member]
Derivative Instruments Not Designated as Hedging Instruments, Gain	$ 75	$ 37

Derivatives And Fair Value Me38

Derivatives And Fair Value Measurements (Schedule Of Fair Value Measurements Using Input Levels Asset/(Liability)) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Oct. 01, 2016
Interest Rate Swaps [Member]
Interest Rate Cash Flow Hedge Liability at Fair Value	$ (36)	$ (132)
Foreign Currency Forward Contracts [Member]
Foreign Currency Contracts, Liability, Fair Value Disclosure	(6,580)	(434)
Fair Value, Inputs, Level 1 [Member] | Interest Rate Swaps [Member]
Interest Rate Cash Flow Hedge Liability at Fair Value	0	0
Fair Value, Inputs, Level 1 [Member] | Foreign Currency Forward Contracts [Member]
Foreign Currency Contracts, Liability, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swaps [Member]
Interest Rate Cash Flow Hedge Liability at Fair Value	(36)	(132)
Fair Value, Inputs, Level 2 [Member] | Foreign Currency Forward Contracts [Member]
Foreign Currency Contracts, Liability, Fair Value Disclosure	(6,580)	(434)
Fair Value, Inputs, Level 3 [Member] | Interest Rate Swaps [Member]
Interest Rate Cash Flow Hedge Liability at Fair Value	0	0
Fair Value, Inputs, Level 3 [Member] | Foreign Currency Forward Contracts [Member]
Foreign Currency Contracts, Liability, Fair Value Disclosure	$ 0	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Jan. 02, 2016
Income Tax Disclosure [Abstract]
Income tax expense	$ 2,847	$ 2,854
Effective tax rates	9.20%	16.50%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2016	Jan. 02, 2016
Earnings Per Share [Abstract]
Net income	$ 28,179	$ 14,448
Basic weighted average common shares outstanding	33,534	33,396
Dilutive effect of share-based awards outstanding	1,010	666
Diluted weighted average shares outstanding	34,544	34,062
Earnings per share, Basic	$ 0.84	$ 0.43
Earnings per share, Diluted	$ 0.82	$ 0.42
Antidilutive securities excluded from computation of diluted earnings per share	100	800

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Jan. 02, 2016
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Allocated Share-based Compensation Expense	$ 3.6	$ 3.4
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	300,000

Business Segments (Schedule Of

Business Segments (Schedule Of Financial Information About Company's Reportable Segments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Jan. 02, 2016	Oct. 01, 2016
Segment Reporting Information [Line Items]
Net sales	$ 635,019	$ 616,664
Operating income (loss)	33,903	21,524
Interest expense	(3,274)	(3,534)
Interest income	1,071	932
Miscellaneous	(674)	(1,620)
Income before income taxes	31,026	17,302
Total assets	1,756,179		$ 1,765,819
Corporate and Eliminations [Member]
Segment Reporting Information [Line Items]
Total assets	69,223		28,416
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	(29,050)	(29,866)
Operating income (loss)	(26,899)	(23,079)
AMER | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	314,651	305,097
Operating income (loss)	14,797	8,386
Total assets	521,705		590,850
Asia Pacific [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	309,969	299,346
Operating income (loss)	48,240	36,952
Total assets	1,034,237		1,009,917
EMEA [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	39,449	42,087
Operating income (loss)	(2,235)	$ (735)
Total assets	$ 131,014		$ 136,636

Guarantees (Details)

Guarantees (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2016USD ($)mo	Oct. 01, 2016USD ($)
Limited warranty liability, beginning balance	$ 6,109	$ 5,847
Accruals for warranties issued during the period		1,777
Settlements (in cash or in kind) during the period	1,252	1,515
Limited warranty liability, ending balance	$ 4,857	$ 6,109
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
	Dec. 31, 2016	Jan. 02, 2016	Jun. 06, 2016	Aug. 20, 2015
Stockholders' Equity Note [Abstract]
Stock Repurchase Program, Authorized Amount			$ 150,000	$ 30,000
Stock Repurchased During Period, Shares	144,729	227,312
Repurchases of common stock	$ 7,061	$ 8,463
Average price of repurchased shares	$ 48.79	$ 37.23

Trade Accounts Receivable Sal45

Trade Accounts Receivable Sale Programs (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Jan. 02, 2016
Receivables [Abstract]
Maximum Limit Accounts Receivable Sale Program	$ 100
Trade Accounts Receivable Sold	77.8	$ 22.3
Amount Received From Trade Accounts Receivable Sold To Third Party	$ 77.4	$ 22.1

Restructuring and Other Charg46

Restructuring and Other Charges (Narrative) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2016	Jan. 02, 2016	Oct. 01, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring and Other Charges	$ 0	$ 1,507
AMER | Fremont [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Other Charges	0		$ 7,034
AMER | Employee Severance [Member] | Fremont [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Other Charges	0	1,394	5,255
AMER | Other Restructuring [Member] | Fremont [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Other Charges	$ 0	$ 113	$ 1,779

Restructuring Costs (Details)

Restructuring Costs (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2016	Jan. 02, 2016	Oct. 01, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve - Beginning		$ 0	$ 0
Restructuring and Other Charges	$ 0	1,507
AMER | Fremont [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve - Beginning	842
Restructuring and Other Charges	0		7,034
Payments for Restructuring	(631)		(6,192)
Restructuring Reserve - Ending	211		842
AMER | Fremont [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve - Beginning	684
Restructuring and Other Charges	0	1,394	5,255
Payments for Restructuring	(525)		(4,571)
Restructuring Reserve - Ending	159		684
AMER | Fremont [Member] | Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve - Beginning	158
Restructuring and Other Charges	0	$ 113	1,779
Payments for Restructuring	(106)		(1,621)
Restructuring Reserve - Ending	$ 52		$ 158

New Accounting Pronouncements (

New Accounting Pronouncements (Details) - Valuation Allowance of Deferred Tax Assets [Member] - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Oct. 01, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption		$ 4.9
Share Based Compensation Excess Tax Benefits Amount	$ 0.6