Plexus (PLXS) 10-Q 3 May 19 2019 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Mar. 30, 2019	Apr. 30, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Trading Symbol	PLXS
Entity Registrant Name	PLEXUS CORP
Entity Central Index Key	0000785786
Current Fiscal Year End Date	--09-28
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		30,105,120

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 30, 2019	Mar. 31, 2018	Mar. 30, 2019	Mar. 31, 2018
Income Statement [Abstract]
Net sales	$ 789,051	$ 698,651	$ 1,554,595	$ 1,375,945
Cost of sales	718,415	645,699	1,411,576	1,259,470
Gross profit	70,636	52,952	143,019	116,475
Selling and administrative expenses	37,462	35,637	72,894	67,603
Operating income	33,174	17,315	70,125	48,872
Other income (expense):
Interest expense	(3,145)	(3,547)	(5,394)	(7,272)
Interest income	440	1,426	965	2,981
Miscellaneous, net	(1,773)	(477)	(2,885)	(823)
Income before income taxes	28,696	14,717	62,811	43,758
Income tax expense	3,938	2,427	15,827	129,961
Net income (loss)	$ 24,758	$ 12,290	$ 46,984	$ (86,203)
Earnings (loss) per share:
Basic (in dollars per share)	$ 0.81	$ 0.37	$ 1.52	$ (2.57)
Diluted (in dollars per share)	$ 0.79	$ 0.36	$ 1.48	$ (2.57)
Weighted average shares outstanding:
Basic (in shares)	30,603	33,538	31,003	33,552
Diluted (in shares)	31,385	34,387	31,836	33,552
Other comprehensive income:
Derivative instrument fair value adjustment	$ 1,984	$ 1,229	$ 2,362	$ 2,768
Foreign currency translation adjustments	515	4,773	(1,356)	6,915
Other comprehensive income	2,499	6,002	1,006	9,683
Total comprehensive income (loss)	$ 27,257	$ 18,292	$ 47,990	$ (76,520)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 30, 2019	Sep. 29, 2018
Current assets:
Cash and cash equivalents	$ 184,028	$ 297,269
Restricted cash	331	417
Accounts receivable, net of allowances of $1,251 and $885, respectively	445,053	394,827
Contract assets	86,803	0
Inventories, net	802,261	794,346
Prepaid expenses and other	30,987	30,302
Total current assets	1,549,463	1,517,161
Property, plant and equipment, net	373,918	341,306
Deferred income taxes	10,889	10,825
Intangible assets, net	7,511	8,239
Other	59,070	55,111
Total non-current assets	451,388	415,481
Total assets	2,000,851	1,932,642
Current liabilities:
Current portion of long-term debt and capital lease obligations	93,197	5,532
Accounts payable	476,481	506,322
Customer deposits	129,068	90,782
Accrued salaries and wages	52,939	66,874
Other accrued liabilities	92,989	68,163
Total current liabilities	844,674	737,673
Long-term debt and capital lease obligations, net of current portion	187,120	183,085
Long-term accrued income taxes payable	58,296	56,130
Deferred income taxes payable	14,991	14,376
Other liabilities	20,326	20,235
Total non-current liabilities	280,733	273,826
Total liabilities	1,125,407	1,011,499
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, 52,832 and 52,567 shares issued, respectively, and 30,241 and 31,838 shares outstanding, respectively	528	526
Additional paid-in capital	586,279	581,488
Common stock held in treasury, at cost, 22,591 and 20,729 shares, respectively	(817,435)	(711,138)
Retained earnings	1,117,045	1,062,246
Accumulated other comprehensive loss	(10,973)	(11,979)
Total shareholders’ equity	875,444	921,143
Total liabilities and shareholders’ equity	$ 2,000,851	$ 1,932,642

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 30, 2019	Sep. 29, 2018
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 1,251	$ 885
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	52,832,000	52,567,000
Common stock, shares outstanding (in shares)	30,241,000	31,838,000
Treasury stock, shares (in shares)	22,591,000	20,729,000

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands		Total	Common Stock	Additional paid-in capital	Treasury stock	Retained earnings	Accumulated other comprehensive income (loss)
Beginning of period (in shares) at Sep. 30, 2017			33,464,000
Exercise of stock options and vesting of other stock awards (in shares)			500,000
Treasury shares purchased (in shares)			(671,000)
End of period (in shares) at Mar. 31, 2018			33,293,000
Beginning of period at Sep. 30, 2017		$ 1,025,939	$ 519	$ 555,297	$ (574,104)	$ 1,049,206	$ (4,979)
Exercise of stock options and vesting of other stock awards			5
Share-based compensation expense				8,420
Exercise of stock options and vesting of other stock awards, including tax benefits				3,818
Treasury shares purchased					(41,159)
Net income (loss)		(86,203)				(86,203)
Other comprehensive income (loss)		9,683					9,683
End of period at Mar. 31, 2018		920,503	$ 524	567,535	(615,263)	963,003	4,704
Beginning of period (in shares) at Dec. 30, 2017			33,607,000
Exercise of stock options and vesting of other stock awards (in shares)			199,000
Treasury shares purchased (in shares)			(513,000)
End of period (in shares) at Mar. 31, 2018			33,293,000
Beginning of period at Dec. 30, 2017		933,848	$ 522	567,562	(583,651)	950,713	(1,298)
Exercise of stock options and vesting of other stock awards			2
Share-based compensation expense				4,524
Exercise of stock options and vesting of other stock awards, including tax benefits				(4,551)
Treasury shares purchased					(31,612)
Net income (loss)		12,290				12,290
Other comprehensive income (loss)		6,002					6,002
End of period at Mar. 31, 2018		$ 920,503	$ 524	567,535	(615,263)	963,003	4,704
Cumulative effect adjustment for adoption of new accounting pronouncement	[1]					7,815
Beginning of period (in shares) at Sep. 29, 2018		31,838,000	31,838,000
Exercise of stock options and vesting of other stock awards (in shares)			265,000
Treasury shares purchased (in shares)			(1,862,000)
End of period (in shares) at Mar. 30, 2019		30,241,000	30,241,000
Beginning of period at Sep. 29, 2018		$ 921,143	$ 526	581,488	(711,138)	1,062,246	(11,979)
Exercise of stock options and vesting of other stock awards			2
Share-based compensation expense				9,929
Exercise of stock options and vesting of other stock awards, including tax benefits				(5,138)
Treasury shares purchased					(106,297)
Net income (loss)		46,984				46,984
Other comprehensive income (loss)		1,006					1,006
End of period at Mar. 30, 2019		$ 875,444	$ 528	586,279	(817,435)	1,117,045	(10,973)
Beginning of period (in shares) at Dec. 29, 2018			30,992,000
Exercise of stock options and vesting of other stock awards (in shares)			241,000
Treasury shares purchased (in shares)			(992,000)
End of period (in shares) at Mar. 30, 2019		30,241,000	30,241,000
Beginning of period at Dec. 29, 2018		$ 905,163	$ 526	587,011	(761,189)	1,092,287	(13,472)
Exercise of stock options and vesting of other stock awards			2
Share-based compensation expense				5,176
Exercise of stock options and vesting of other stock awards, including tax benefits				(5,908)
Treasury shares purchased					(56,246)
Net income (loss)		24,758				24,758
Other comprehensive income (loss)		2,499					2,499
End of period at Mar. 30, 2019		$ 875,444	$ 528	$ 586,279	$ (817,435)	$ 1,117,045	$ (10,973)
[1]	See Note 1, "Basis of Presentation," for a discussion of recently adopted accounting pronouncements.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Mar. 30, 2019	Mar. 31, 2018
Cash flows from operating activities
Net income (loss)	$ 46,984	$ (86,203)
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
Depreciation and amortization	25,468	23,602
Deferred income taxes	1,622	22,326
Share-based compensation expense	9,929	8,420
Other, net	92	(45)
Changes in operating assets and liabilities, excluding impacts of acquisition:
Accounts receivable	(50,717)	(32,326)
Contract assets	(10,298)	0
Inventories	(77,917)	(42,781)
Other current and noncurrent assets	(4,367)	(4,766)
Accrued income taxes payable	(824)	102,220
Accounts payable	(28,187)	15,611
Customer deposits	38,197	(3,680)
Other current and noncurrent liabilities	15,486	463
Cash flows (used in) provided by operating activities	(34,532)	2,841
Cash flows from investing activities
Payments for property, plant and equipment	(54,556)	(29,115)
Proceeds from sales of property, plant and equipment	93	273
Business acquisition	1,180	0
Cash flows used in investing activities	(53,283)	(28,842)
Cash flows from financing activities
Borrowings under debt agreements	667,025	504,616
Payments on debt and capital lease obligations	(581,360)	(612,961)
Repurchases of common stock	(106,297)	(41,159)
Proceeds from exercise of stock options	1,264	9,194
Payments related to tax withholding for share-based compensation	(6,400)	(5,371)
Cash flows used in financing activities	(25,768)	(145,681)
Effect of exchange rate changes on cash and cash equivalents	256	5,743
Net decrease in cash and cash equivalents and restricted cash	(113,327)	(165,939)
Cash and cash equivalents and restricted cash:
Beginning of period	297,686	569,254
End of period	$ 184,359	$ 403,315

Basis of Presentation

Basis of Presentation	6 Months Ended
	Mar. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	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”). 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 March 30, 2019 and September 29, 2018 , the results of operations and shareholders' equity for the three and six months ended March 30, 2019 and March 31, 2018 , and the cash flows for the same six month periods. The Company’s fiscal year ends on the Saturday closest to September 30. The Company 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 in the United States of America ("U.S. GAAP"), 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 2018 Annual Report on Form 10-K. Recently Adopted Accounting Pronouncements: In October 2016, the Financial Accounting Standards Board (the "FASB") issued ASU 2016-16 related to 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. The Company adopted this guidance under the modified retrospective approach during the first quarter of fiscal 2019. The Company recognized no net impact to its fiscal 2019 opening Retained Earnings balance upon adoption and does not anticipate any material impact to the Company's future Consolidated Financial Statements. In August 2016, the FASB issued ASU 2016-15 related to the classification of certain cash receipts and cash payments, which clarifies how entities should classify certain cash receipts and cash payments on the statement of cash flows. The new standard addresses certain issues where diversity in practice was identified. It also amends existing guidance, which is principles based and often requires judgment to determine the appropriate classification of cash flows as operating, investing or financing activities and clarifies how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows. The Company adopted this guidance during the first quarter of fiscal 2019 with no material impact to the Company's Condensed Statements of Cash Flows. In May 2014, the FASB issued ASU 2014-09, which requires an entity to recognize revenue relating to contracts with customers that depicts the transfer of promised goods or services to customers in an amount reflecting the consideration to which the entity expects to be entitled in exchange for such goods or services ("Topic 606"). Topic 606 also requires disclosures enabling users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers and was effective for the Company beginning in the first quarter of fiscal year 2019. On September 30, 2018, the Company adopted and applied Topic 606 to all contracts using the modified retrospective method of adoption. Upon adoption, the Company recognized an increase to its beginning Retained Earnings balance of $7.8 million . The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. Refer to Note 13, "Revenue from Contracts with Customers," for further information. Recently Issued Accounting Pronouncements Not Yet Adopted: In February 2016, the FASB issued ASU 2016-02, which 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 the Company beginning in the first quarter of fiscal year 2020. 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 plans to adopt the standard in the first quarter of fiscal year 2020. In August 2017, the FASB issued ASU 2017-12 related to the accounting for hedging activities. The pronouncement expands and refines hedge accounting, aligns the recognition and presentation of the effects of hedging instruments and hedge items in the financial statements, and includes certain targeted improvements to ease the application of current guidance related to the assessment of hedge effectiveness. The guidance is effective for the Company beginning in the first quarter of fiscal year 2020. 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. The Company believes that no other recently issued accounting standards will have a material impact on its Consolidated Financial Statements, or apply to its operations.

Inventories

Inventories	6 Months Ended
	Mar. 30, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories as of March 30, 2019 and September 29, 2018 consisted of the following (in thousands): March 30, 2019 September 29, 2018 Raw materials $ 657,125 $ 579,377 Work-in-process 55,888 102,337 Finished goods 89,248 112,632 Total inventories, net $ 802,261 $ 794,346 In certain circumstances, per contractual terms, 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 March 30, 2019 and September 29, 2018 was $126.7 million and $87.7 million , respectively. In the first quarter of fiscal year 2019, the Company adopted and applied Topic 606 to all contracts using the modified retrospective method of adoption. The prior year comparative information has not been restated and continues to be reported under the accounting standards in effect for fiscal 2018. Refer to Note 13, "Revenue from Contracts with Customers," for further information.

Debt, Capital Lease Obligations

Debt, Capital Lease Obligations and Other Financing	6 Months Ended
	Mar. 30, 2019
Debt and Capital Lease Obligations [Abstract]
Debt, Capital Lease Obligations and Other Financing	Debt, Capital Lease Obligations and Other Financing Debt and capital lease obligations as of March 30, 2019 and September 29, 2018 , consisted of the following (in thousands): March 30, 2019 September 29, 2018 4.05% Senior Notes, due June 15, 2025 $ 100,000 $ 100,000 4.22% Senior Notes, due June 15, 2028 50,000 50,000 Borrowings under the credit facility 87,000 — Capital lease and other financing obligations 44,413 39,857 Unamortized deferred financing fees (1,096 ) (1,240 ) Total obligations 280,317 188,617 Less: current portion (93,197 ) (5,532 ) Long-term debt and capital lease obligations, net of current portion $ 187,120 $ 183,085 On June 15, 2018, the Company entered into a Note Purchase Agreement (the “2018 NPA”) pursuant to which it issued an aggregate of $150.0 million in principal amount of unsecured senior notes, consisting of $100.0 million in principal amount of 4.05% Series A Senior Notes, due on June 15, 2025, and $50.0 million in principal amount of 4.22% Series B Senior Notes, due on June 15, 2028 (collectively, the “2018 Notes”), in a private placement. The 2018 NPA includes customary operational and financial covenants with which the Company is required to comply, including, among others, maintenance of certain financial ratios such as a total leverage ratio and a minimum interest coverage ratio. The 2018 Notes may be prepaid in whole or in part at any time, subject to payment of a make-whole amount. Interest on the 2018 Notes is payable semiannually. At March 30, 2019 , the Company was in compliance with the covenants under the 2018 NPA. The Company also 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 six months ended March 30, 2019 , the highest daily borrowing was $229.0 million ; the average daily borrowings were $98.9 million . The Company borrowed $666.5 million and repaid $579.5 million of revolving borrowings under the Credit Facility during the six months ended March 30, 2019 . As of March 30, 2019 , the Company was in compliance with all financial covenants relating to the Credit Facility, which are generally consistent with those in the 2018 NPA discussed above. The Company is required to pay a commitment fee on the daily unused revolver credit commitment based on the Company's leverage ratio; the fee was 0.175% as of March 30, 2019 . The fair value of the Company’s debt, excluding capital leases, was $237.5 million and $151.9 million as of March 30, 2019 and September 29, 2018 , respectively. The carrying value of the Company's debt, excluding capital leases, was $237.0 million and $150.0 million as of March 30, 2019 and September 29, 2018 , respectively. If measured at fair value in the financial statements, the Company's debt would be classified as Level 2 in the fair value hierarchy. Refer to Note 4, "Derivatives," for further information regarding the Company's fair value calculations and classifications.

Derivatives

Derivatives	6 Months Ended
	Mar. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives 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. The Company has cash flow hedges related to 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. 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 $0.7 million of unrealized gains , net of tax, related to cash flow hedges will be reclassified from other comprehensive income (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, net" in the accompanying Condensed Consolidated Statements of Comprehensive Income (Loss). The Company enters into forward currency exchange contracts for its operations in Malaysia and Mexico on a rolling basis. The Company had cash flow hedges outstanding with a notional value of $77.1 million as of March 30, 2019 , and $74.0 million as of September 29, 2018 . 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 forward currency exchange contracts was a $0.7 million asset as of March 30, 2019 , and a $1.7 million liability as of September 29, 2018 . The Company had additional forward currency exchange contracts outstanding with a notional value of $34.6 million as of March 30, 2019 , and $28.6 million as of September 29, 2018 . The Company did not designate these derivative instruments as hedging instruments. 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, net" within the Condensed Consolidated Statements of Comprehensive Income (Loss). The total fair value of these derivatives was a $0.3 million asset as of March 30, 2019 , and a $0.1 million liability as of September 29, 2018 . The tables below present information regarding the fair values of derivative instruments 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 March 30, September 29, March 30, September 29, Derivatives 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 $ 670 $ 292 Other accrued liabilities $ — $ 1,984 Fair Values of Derivative Instruments In thousands of dollars Asset Derivatives Liability Derivatives March 30, September 29, March 30, September 29, 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 $ 378 $ 42 Other accrued liabilities $ 62 $ 81 Derivative Impact on Accumulated Other Comprehensive Income ("OCI") for the Three Months Ended In thousands of dollars Derivatives in Cash Flow Hedging Relationships Amount of Gain Recognized in OCI on Derivatives (Effective Portion) March 30, 2019 March 31, 2018 Foreign currency forward contracts $ 1,241 $ 3,625 Derivative Impact on Gain (Loss) Recognized in Income for the Three Months Ended In thousands of dollars Derivatives in Cash Flow Hedging Relationships Classification of (Loss) Gain Reclassified from Accumulated OCI into Income (Effective Portion) Amount of (Loss) Gain Reclassified from Accumulated OCI into Income (Effective Portion) March 30, 2019 March 31, 2018 Foreign currency forward contracts Selling and administrative expenses $ (73 ) $ 224 Foreign currency forward contracts Cost of sales $ (670 ) $ 2,091 Treasury Rate Locks Interest expense $ — $ 81 Derivatives Not Designated as Hedging Instruments Location of (Loss) Gain Recognized on Derivatives in Income Amount of Gain (Loss) on Derivatives Recognized in Income March 30, 2019 March 31, 2018 Foreign currency forward contracts Miscellaneous, net $ 843 $ (416 ) Derivative Impact on Accumulated Other Comprehensive Income ("OCI") for the Six Months Ended In thousands of dollars Derivatives in Cash Flow Hedging Relationships Amount of Gain Recognized in OCI on Derivatives (Effective Portion) March 30, 2019 March 31, 2018 Foreign currency forward contracts $ 853 $ 6,339 Derivative Impact on Gain (Loss) Recognized in Income for the Six Months Ended In thousands of dollars Derivatives in Cash Flow Hedging Relationships Classification of (Loss) Gain Reclassified from Accumulated OCI into Income (Effective Portion) Amount of (Loss) Gain Reclassified from Accumulated OCI into Income (Effective Portion) March 30, 2019 March 31, 2018 Foreign currency forward contracts Selling and administrative expenses $ (155 ) $ 329 Foreign currency forward contracts Cost of sales $ (1,354 ) $ 3,082 Treasury Rate Locks Interest expense $ — $ 160 Derivatives Not Designated as Hedging Instruments Location of Gain (Loss) Recognized on Derivatives in Income Amount of Gain (Loss) on Derivatives Recognized in Income March 30, 2019 March 31, 2018 Foreign currency forward contracts Miscellaneous, net $ 1,630 $ (951 ) There were no gains or losses recognized in income for derivatives related to ineffective portions and amounts excluded from effectiveness testing for the three or six months ended March 30, 2019 and March 31, 2018 . Fair Value Measurements: 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 Company uses quoted market prices when available or discounted cash flows to calculate fair value. 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. The following table lists the fair values of liabilities of the Company’s derivatives as of March 30, 2019 and September 29, 2018 , by input level: Fair Value Measurements Using Input Levels (Liability)/Asset In thousands of dollars March 30, 2019 Level 1 Level 2 Level 3 Total Derivatives Forward currency forward contracts $ — $ 986 $ — $ 986 September 29, 2018 Derivatives Forward currency forward contracts $ — $ (1,731 ) $ — $ (1,731 ) The fair value of 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. 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	6 Months Ended
	Mar. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense for the three and six months ended March 30, 2019 was $3.9 million and $15.8 million , respectively, compared to $2.4 million and $130.0 million for the three and six months ended March 31, 2018 , respectively. The effective tax rates for the three and six months ended March 30, 2019 , were 13.7% and 25.2% , respectively, compared to the effective tax rates of 16.5% and 297.0% for the three and six months ended March 31, 2018 , respectively. The effective tax rate for the three months ended March 30, 2019 decreased from the effective tax rate for the three months ended March 31, 2018 , primarily due to the $13.5 million one-time bonus paid to full-time, non-executive employees ("one-time employee bonus") paid during the three months ended March 31, 2018, and the geographical distribution of pre-tax earnings. The effective tax rate for the six months ended March 30, 2019 decreased from the effective tax rate for the six months ended March 31, 2018 , primarily due to the impact of the U.S. Tax Cuts & Jobs Act (“Tax Reform”), which was enacted on December 22, 2017, and an increase in pre-tax earnings which was impacted by the one-time employee bonus in the prior year. There were no material additions to the amount of unrecognized tax benefits recorded for uncertain tax positions for the three months ended March 30, 2019 . For the six months ended March 30, 2019 , the Company recorded an income tax benefit of $1.7 million primarily related to unrecognized tax benefits as the U.S. Department of Treasury issued additional guidance for Tax Reform. The guidance proposed related to the treatment of foreign taxes paid that impacted the tax on the deemed repatriation of historical undistributed foreign earnings. 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 and six months ended March 30, 2019 was not material. One or more uncertain 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 March 30, 2019 , the Company continued to record a full valuation allowance against its net deferred tax assets in certain jurisdictions within the EMEA segment and a partial valuation against its net deferred tax assets in certain jurisdictions within the AMER segment, 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	6 Months Ended
	Mar. 30, 2019
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 and six months ended March 30, 2019 and March 31, 2018 (in thousands, except per share amounts): Three Months Ended Six Months Ended March 30, 2019 March 31, 2018 March 30, 2019 March 31, 2018 Net income (loss) 24,758 12,290 46,984 (86,203 ) Basic weighted average common shares outstanding 30,603 33,538 31,003 33,552 Dilutive effect of share-based awards outstanding 782 849 833 — Diluted weighted average shares outstanding 31,385 34,387 31,836 33,552 Earnings (loss) per share: Basic $ 0.81 $ 0.37 $ 1.52 $ (2.57 ) Diluted $ 0.79 $ 0.36 $ 1.48 $ (2.57 ) For both the three and six months ended March 30, 2019 , share-based awards for approximately 0.1 million shares were not included in the computation of diluted earnings per share as they were antidilutive. For the three months ended March 31, 2018 , share-based awards for approximately 0.3 million shares were not included in the computation of diluted earnings per share as they were antidilutive. For the six months ended March 31, 2018 , the total number of potentially dilutive share-based awards was 2.0 million ; however, these awards were not included in the computation of diluted loss per share, as doing so would have decreased the loss per share. See also Note 11, "Shareholders' Equity," for information regarding the Company's share repurchase plans.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Mar. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	Share-Based Compensation The Company recognized $5.2 million and $9.9 million of compensation expense associated with share-based awards for the three and six months ended March 30, 2019 , respectively, and $4.5 million and $8.4 million for the three and six months ended March 31, 2018 , 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"). Performance stock units ("PSUs") are payable in shares of the Company's common stock. Beginning for fiscal 2017 grants, PSUs vest based on the relative total shareholder return ("TSR") of the Company's common stock as compared to the companies in the Russell 3000 index, a market condition, and the Company's economic return performance during the three year performance period, a performance condition. The Company uses the Monte Carlo valuation model to determine the fair value of PSUs at the date of grant for PSUs that vest based on the relative TSR of the Company's common stock. The Company uses its stock price on grant date as the fair value assigned to PSUs that vest based on the Company's economic return performance. PSUs granted in fiscal 2016 and prior years vested based solely on the relative 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 0.5 million and is dependent upon the Company's TSR and economic return performance over the applicable performance periods. The Company recognizes share-based compensation expense over the share-based awards' vesting period.

Litigation

Litigation	6 Months Ended
	Mar. 30, 2019
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	6 Months Ended
	Mar. 30, 2019
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 the 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 costs 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 and six months ended March 30, 2019 and March 31, 2018 , respectively, is as follows (in thousands): Three Months Ended Six Months Ended March 30, 2019 March 31, 2018 March 30, 2019 March 31, 2018 Net sales: AMER $ 364,490 $ 301,835 $ 718,357 $ 600,878 APAC 378,441 350,375 756,553 696,498 EMEA 75,822 73,942 148,120 137,774 Elimination of inter-segment sales (29,702 ) (27,501 ) (68,435 ) (59,205 ) $ 789,051 $ 698,651 $ 1,554,595 $ 1,375,945 Operating income (loss): AMER $ 14,230 $ 10,702 $ 28,680 $ 21,225 APAC 48,704 49,171 100,515 99,703 EMEA (133 ) 389 863 (732 ) Corporate and other costs (29,627 ) (42,947 ) (59,933 ) (71,324 ) $ 33,174 $ 17,315 $ 70,125 $ 48,872 Other income (expense): Interest expense (3,145 ) (3,547 ) (5,394 ) (7,272 ) Interest income 440 1,426 965 2,981 Miscellaneous, net (1,773 ) (477 ) (2,885 ) (823 ) Income before income taxes 28,696 14,717 62,811 43,758 March 30, September 29, Total assets: AMER $ 733,925 $ 645,791 APAC 980,888 937,510 EMEA 201,627 193,797 Corporate and eliminations 84,411 155,544 $ 2,000,851 $ 1,932,642

Guarantees

Guarantees	6 Months Ended
	Mar. 30, 2019
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. 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 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 the six months ended March 30, 2019 and March 31, 2018 (in thousands): Six Months Ended March 30, 2019 March 31, 2018 Reserve balance, beginning of period $ 6,646 $ 4,756 Accruals for warranties issued during the period 2,374 2,131 Settlements (in cash or in kind) during the period (1,737 ) (1,579 ) Reserve balance, end of period $ 7,283 $ 5,308

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Mar. 30, 2019
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders' Equity On February 14, 2018, the Board of Directors approved a stock repurchase plan under which the Company is authorized to repurchase $200.0 million of its common stock (the "2018 Program"). The 2018 Program commenced upon completion of the 2016 Program, as defined below. During the three months ended March 30, 2019 , the Company repurchased 991,683 shares for $56.2 million , at an average price of $56.72 per share. During the six months ended March 30, 2019 , the Company repurchased 1,861,632 shares for $106.3 million , at an average price of $57.10 . As of March 30, 2019 , $72.5 million of authority remained under the 2018 Program. On June 6, 2016, the Board of Directors authorized a multi-year stock repurchase program under which the Company was authorized to repurchase up to $150.0 million of its common stock beginning in fiscal 2017 (the "2016 Program"). During the three months ended March 31, 2018 , the Company repurchased 512,943 shares for $31.6 million , at an average price of $61.63 per share. During the six months ended March 31, 2018 , the Company repurchased 671,409 shares for $41.2 million , at an average price of $61.30 per share under the 2016 Program. All shares repurchased under the aforementioned programs were recorded as treasury stock.

Trade Accounts Receivable Sale

Trade Accounts Receivable Sale Programs	6 Months Ended
	Mar. 30, 2019
Receivables [Abstract]
Trade Accounts Receivable Sale Programs	Trade Accounts Receivable Sale Programs The Company has Master Accounts Receivable Purchase Agreements with MUFG Bank, New York Branch, formerly known as The Bank of Tokyo-Mitsubishi UFJ, Ltd. (the "MUFG RPA"), and HSBC Bank (China) Company Limited, Xiamen branch (the "HSBC RPA"), under which the Company may elect to sell receivables, at a discount, on an ongoing basis. The MUFG RPA was amended on March 20, 2019, to increase the maximum facility amount from $230.0 million to $260.0 million . The maximum facility amount under the HSBC RPA as of March 30, 2019 is $60.0 million . The MUFG RPA is subject to expiration on October 3, 2019, but will be automatically extended for another year unless any party gives no less than 10 days prior notice that the agreement should not be extended. The terms of the HSBC RPA are generally consistent with the terms of the MUFG RPA. 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 sale discount is recorded within "Miscellaneous, net" in the Condensed Consolidated Statements of Comprehensive Income in the period of the sale. The Company sold $241.9 million and $135.9 million of trade accounts receivable under these programs during the three months ended March 30, 2019 and March 31, 2018 , respectively, in exchange for cash proceeds of $240.4 million and $135.2 million , respectively. The Company sold $474.4 million and $298.3 million of trade accounts receivable under these programs during the six months ended March 30, 2019 and March 31, 2018 , respectively, in exchange for cash proceeds of $471.6 million and $296.7 million , respectively.

Revenue From Contracts with Cus

Revenue From Contracts with Customers	6 Months Ended
	Mar. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers Impact of Adopting Topic 606 The Company adopted Topic 606 using the modified retrospective method. The new standard resulted in a change to the timing of revenue recognition for a significant portion of the Company's revenue, whereby revenue is recognized over time, as products are produced, as opposed to at a point in time based upon shipping terms. As a result of the adoption of Topic 606, the following adjustments were made to the opening balances of the Company's Condensed Consolidated Balance Sheets (in thousands): Balance at September 29, 2018 Impacts due to adoption of Topic 606 Balance at September 30, 2018 ASSETS Contract assets $ — $ 76,417 $ 76,417 Inventories 794,346 (68,959 ) 725,387 LIABILITIES AND SHAREHOLDERS' EQUITY Other accrued liabilities $ 68,163 $ (357 ) $ 67,806 Retained earnings 1,062,246 7,815 1,070,061 The cumulative effect of applying the new guidance in Topic 606 resulted in the Company increasing its fiscal 2019 opening Retained Earnings balance by $7.8 million due to certain customer contracts requiring revenue recognition over time. Contract assets in the amount of $76.4 million were recognized due to the recognition of revenue on an over time basis for some customers rather than at a specific point in time. Inventory declined $69.0 million primarily due to earlier recognition of costs related to the contracts for which revenue was recognized on an over time basis. The decline in other accrued liabilities is primarily due to the reclassification of deferred revenue to contract assets for prepayments associated with revenue recognized over time, partially offset by an increase in taxes payable associated with the increase in revenue recognized over time. The effects of the adoption on the Company's Condensed Consolidated Financial Statements for the three and six months ended March 30, 2019 were as follows (in thousands): Three Months Ended March 30, 2019 As Reported Adjustments due to Topic 606 March 30, 2019 As Adjusted - Without Adoption of Topic 606 Net sales $ 789,051 $ 5,359 $ 783,692 Cost of sales 718,415 4,641 713,774 Gross profit 70,636 718 69,918 Operating income 33,174 718 32,456 Income before income taxes 28,696 718 27,978 Income tax expense 3,938 224 3,714 Net income $ 24,758 $ 494 $ 24,264 Six Months Ended March 30, 2019 As Reported Adjustments due to Topic 606 March 30, 2019 As Adjusted - Without Adoption of Topic 606 Net sales $ 1,554,595 $ 11,544 $ 1,543,051 Cost of sales 1,411,576 9,835 1,401,741 Gross profit 143,019 1,709 141,310 Operating income 70,125 1,709 68,416 Income before income taxes 62,811 1,709 61,102 Income tax expense 15,827 418 15,409 Net income $ 46,984 $ 1,291 $ 45,693 March 30, 2019 As Reported Adjustments due to Topic 606 March 30, 2019 As Adjusted - Without Adoption of Topic 606 ASSETS Contract assets $ 86,803 $ 86,803 $ — Inventories 802,261 (78,766 ) 881,027 LIABILITIES AND SHAREHOLDERS' EQUITY Other accrued liabilities $ 92,989 $ (1,069 ) $ 94,058 Retained earnings 1,117,045 9,106 1,107,939 Significant Judgments Topic 606 results in a change to the timing of revenue recognition for a significant portion of the Company's revenue, whereby revenue is now recognized over time as products are produced, as opposed to at a point in time based upon shipping terms. Upon adopting the standard, revenue is now recognized over time for arrangements with customers for which: (i) the Company's performance does not create an asset with an alternative use to the Company, and (ii) the Company has an enforceable right to payment for performance completed to date. Revenue recognized over time will be estimated based on costs incurred to date plus a reasonable profit margin. If either of the two conditions noted above are not met to recognize revenue over time, revenue will be recognized following the transfer of control of such products to the customer, which typically occurs upon shipment or delivery depending on the terms of the underlying arrangement. The Company recognizes revenue when a contract exists and when, or as, it satisfies a performance obligation by transferring control of a product or service to a customer. Contracts are accounted for when they have approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. The Company generally enters into a master services arrangement that establishes the framework under which business will be conducted. These arrangements represent the master terms and conditions of the Company's services that apply to individual orders, but they do not commit the customer to work with, or to continue to work with, the Company nor do they obligate the customer to any specific volume or pricing of purchases. Moreover, these terms can be amended in appropriate situations. Customer purchase orders are received for specific quantities with predominantly fixed pricing and delivery requirements. Thus, for the majority of our contracts, there is no guarantee of any revenue to the Company until a customer submits a purchase order. As a result, the Company generally considers its arrangement with a customer to be the combination of the master services arrangement and the purchase order. Most of the Company's arrangements with customers create a single performance obligation as the promise to transfer the individual manufactured product or service is capable of being distinct. The Company’s performance obligations are satisfied over time as work progresses or at a point in time. A performance obligation is satisfied over time if the Company has an enforceable right to payment, including a reasonable profit margin. Determining if an enforceable right to payment includes a reasonable profit margin requires judgment and is assessed on a contract by contract basis. Generally, there are no subjective customer acceptance requirements or further obligations related to goods or services provided; if such requirements or obligations exist, then a sale is recognized at the time when such requirements are completed and such obligations are fulfilled. The Company does not allow for a general right of return. Net sales include amounts billed to customers for shipping and handling and out-of-pocket expenses. The corresponding shipping and handling costs and out-of-pocket expenses are included in cost of sales. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from net sales. Practical Expedients The Company applied the following practical expedients during the adoption of Topic 606: • The Company elected not to disclose information about remaining performance obligations as its performance obligations generally have expected durations of one year or less. • The Company will account for certain shipping and handling as activities to fulfill the promise to transfer the good, instead of a promised service to its customer. • The Company elected not to adjust the promised amount of consideration for the effects of a significant financing component as the Company expects, at contract inception, that the period between when the entity transfers a promised good or service to a customer and when the customer pays for that good or service will generally be one year or less. Contract Costs For contracts requiring over time revenue recognition, the selection of the method to measure progress towards completion requires judgment and is based on the nature of the products or services to be provided. The Company uses a cost-based input measurement of progress because it best depicts the transfer of assets to the customer, which occurs as costs are incurred during the manufacturing process or as services are rendered. Under the cost-based measure of progress, the extent of progress towards completion is measured based on the costs incurred to date. There were no other costs to obtain or fulfill customer contracts. Disaggregated Revenue The tables below include the Company’s revenue for the three and six months ended March 30, 2019, disaggregated by geographic reportable segment and market sector (in thousands): Three Months Ended March 30, 2019 Reportable Segment: AMER APAC EMEA Total Market Sector: Healthcare/Life Sciences $ 125,434 $ 141,655 $ 32,547 $ 299,636 Industrial/Commercial 94,208 131,808 24,220 250,236 Aerospace/Defense 75,854 47,752 16,904 140,510 Communications 67,681 29,984 1,004 98,669 External revenue $ 363,177 $ 351,199 $ 74,675 $ 789,051 Inter-segment sales 1,313 27,242 1,147 29,702 Segment revenue $ 364,490 $ 378,441 $ 75,822 $ 818,753 Six Months Ended March 30, 2019 Reportable Segment: AMER APAC EMEA Total Market Sector: Healthcare/Life Sciences $ 241,199 $ 293,761 $ 65,254 $ 600,214 Industrial/Commercial 177,926 248,079 43,373 469,378 Aerospace/Defense 138,227 89,846 34,902 262,975 Communications 158,145 60,959 2,924 222,028 External revenue $ 715,497 $ 692,645 $ 146,453 $ 1,554,595 Inter-segment sales 2,860 63,908 1,667 68,435 Segment revenue $ 718,357 $ 756,553 $ 148,120 $ 1,623,030 For both the three and six months ended March 30, 2019, approximately 90% of the Company's revenue was recognized as products and services were transferred over time. Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable, contract assets, and deferred revenue on the Company’s accompanying Condensed Consolidated Balance Sheets. Contract Assets : For performance obligations satisfied at a point in time, billing occurs subsequent to revenue recognition, at which point the customer has been billed and the resulting asset is recorded within accounts receivable. For performance obligations satisfied over time as work progresses, the Company has an unconditional right to payment, which results in the recognition of contract assets. The following table summarizes the activity in the Company's contract assets during the six months ended March 30, 2019 (in thousands): Contract Assets Beginning balance, September 29, 2018 $ — Cumulative effect adjustment at September 29, 2018 76,417 Revenue recognized 1,393,777 Amounts collected or invoiced (1,383,391 ) Ending balance, March 30, 2019 $ 86,803 Deferred Revenue : Deferred revenue is recorded when consideration is received from a customer prior to transferring goods or services to the customer under the terms of the contract, which is included in other accrued liabilities. The advance payment is not considered a significant financing component because it is used to meet working capital demands that can be higher in the early stages of a contract, offset obsolete and excess inventory risks and to protect the company from the other party failing to adequately complete some or all of its obligations under the contract. Deferred revenue is recognized into revenue when all revenue recognition criteria are met. For performance obligations satisfied over time, recognition will occur as work progress, otherwise deferred revenue will be recognized based upon shipping terms.

Acquisition

Acquisition	6 Months Ended
	Mar. 30, 2019
Acquisition [Abstract]
Acquisition	Acquisition On July 27, 2018, the Company purchased the assets of one of the business lines of Cascade Controls, Inc. ("Cascade"), a new product introduction company in Portland, Oregon, for $12.4 million in cash, subject to certain customary post-closing adjustments. In the three months ended December 29, 2018, the Company received a $1.2 million purchase price adjustment as a result of a post-closing adjustment.

Basis of Presentation (Policie

Basis of Presentation (Policies)	6 Months Ended
	Mar. 30, 2019
Accounting Policies [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”). 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 March 30, 2019 and September 29, 2018 , the results of operations and shareholders' equity for the three and six months ended March 30, 2019 and March 31, 2018 , and the cash flows for the same six month periods. The Company’s fiscal year ends on the Saturday closest to September 30. The Company 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 in the United States of America ("U.S. GAAP"), 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 2018 Annual Report on Form 10-K.
Recently Adopted and Issued Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements: In October 2016, the Financial Accounting Standards Board (the "FASB") issued ASU 2016-16 related to 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. The Company adopted this guidance under the modified retrospective approach during the first quarter of fiscal 2019. The Company recognized no net impact to its fiscal 2019 opening Retained Earnings balance upon adoption and does not anticipate any material impact to the Company's future Consolidated Financial Statements. In August 2016, the FASB issued ASU 2016-15 related to the classification of certain cash receipts and cash payments, which clarifies how entities should classify certain cash receipts and cash payments on the statement of cash flows. The new standard addresses certain issues where diversity in practice was identified. It also amends existing guidance, which is principles based and often requires judgment to determine the appropriate classification of cash flows as operating, investing or financing activities and clarifies how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows. The Company adopted this guidance during the first quarter of fiscal 2019 with no material impact to the Company's Condensed Statements of Cash Flows. In May 2014, the FASB issued ASU 2014-09, which requires an entity to recognize revenue relating to contracts with customers that depicts the transfer of promised goods or services to customers in an amount reflecting the consideration to which the entity expects to be entitled in exchange for such goods or services ("Topic 606"). Topic 606 also requires disclosures enabling users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers and was effective for the Company beginning in the first quarter of fiscal year 2019. On September 30, 2018, the Company adopted and applied Topic 606 to all contracts using the modified retrospective method of adoption. Upon adoption, the Company recognized an increase to its beginning Retained Earnings balance of $7.8 million . The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. Refer to Note 13, "Revenue from Contracts with Customers," for further information. Recently Issued Accounting Pronouncements Not Yet Adopted: In February 2016, the FASB issued ASU 2016-02, which 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 the Company beginning in the first quarter of fiscal year 2020. 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 plans to adopt the standard in the first quarter of fiscal year 2020. In August 2017, the FASB issued ASU 2017-12 related to the accounting for hedging activities. The pronouncement expands and refines hedge accounting, aligns the recognition and presentation of the effects of hedging instruments and hedge items in the financial statements, and includes certain targeted improvements to ease the application of current guidance related to the assessment of hedge effectiveness. The guidance is effective for the Company beginning in the first quarter of fiscal year 2020. 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. The Company believes that no other recently issued accounting standards will have a material impact on its Consolidated Financial Statements, or apply to its operations.
Fair Value of Financial Instruments	Fair Value Measurements: 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 Company uses quoted market prices when available or discounted cash flows to calculate fair value. 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)	6 Months Ended
	Mar. 30, 2019
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories as of March 30, 2019 and September 29, 2018 consisted of the following (in thousands): March 30, 2019 September 29, 2018 Raw materials $ 657,125 $ 579,377 Work-in-process 55,888 102,337 Finished goods 89,248 112,632 Total inventories, net $ 802,261 $ 794,346

Debt, Capital Lease Obligatio_2

Debt, Capital Lease Obligations and Other Financing (Tables)	6 Months Ended
	Mar. 30, 2019
Debt and Capital Lease Obligations [Abstract]
Schedule of Debt and Capital Lease Obligations	Debt and capital lease obligations as of March 30, 2019 and September 29, 2018 , consisted of the following (in thousands): March 30, 2019 September 29, 2018 4.05% Senior Notes, due June 15, 2025 $ 100,000 $ 100,000 4.22% Senior Notes, due June 15, 2028 50,000 50,000 Borrowings under the credit facility 87,000 — Capital lease and other financing obligations 44,413 39,857 Unamortized deferred financing fees (1,096 ) (1,240 ) Total obligations 280,317 188,617 Less: current portion (93,197 ) (5,532 ) Long-term debt and capital lease obligations, net of current portion $ 187,120 $ 183,085

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Mar. 30, 2019
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 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 March 30, September 29, March 30, September 29, Derivatives 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 $ 670 $ 292 Other accrued liabilities $ — $ 1,984 Fair Values of Derivative Instruments In thousands of dollars Asset Derivatives Liability Derivatives March 30, September 29, March 30, September 29, 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 $ 378 $ 42 Other accrued liabilities $ 62 $ 81
Schedule of Derivative Impact on Accumulated Other Comprehensive Income (Loss)	Derivative Impact on Accumulated Other Comprehensive Income ("OCI") for the Six Months Ended In thousands of dollars Derivatives in Cash Flow Hedging Relationships Amount of Gain Recognized in OCI on Derivatives (Effective Portion) March 30, 2019 March 31, 2018 Foreign currency forward contracts $ 853 $ 6,339 Derivative Impact on Accumulated Other Comprehensive Income ("OCI") for the Three Months Ended In thousands of dollars Derivatives in Cash Flow Hedging Relationships Amount of Gain Recognized in OCI on Derivatives (Effective Portion) March 30, 2019 March 31, 2018 Foreign currency forward contracts $ 1,241 $ 3,625
Schedule of Derivative Impact on Gain (Loss) Recognized in Income (Designated as Hedging Instruments)	Derivative Impact on Gain (Loss) Recognized in Income for the Six Months Ended In thousands of dollars Derivatives in Cash Flow Hedging Relationships Classification of (Loss) Gain Reclassified from Accumulated OCI into Income (Effective Portion) Amount of (Loss) Gain Reclassified from Accumulated OCI into Income (Effective Portion) March 30, 2019 March 31, 2018 Foreign currency forward contracts Selling and administrative expenses $ (155 ) $ 329 Foreign currency forward contracts Cost of sales $ (1,354 ) $ 3,082 Treasury Rate Locks Interest expense $ — $ 160 Derivative Impact on Gain (Loss) Recognized in Income for the Three Months Ended In thousands of dollars Derivatives in Cash Flow Hedging Relationships Classification of (Loss) Gain Reclassified from Accumulated OCI into Income (Effective Portion) Amount of (Loss) Gain Reclassified from Accumulated OCI into Income (Effective Portion) March 30, 2019 March 31, 2018 Foreign currency forward contracts Selling and administrative expenses $ (73 ) $ 224 Foreign currency forward contracts Cost of sales $ (670 ) $ 2,091 Treasury Rate Locks Interest expense $ — $ 81
Schedule of Derivative Impact on Gain (Loss) Recognized in Income (Not Designated as Hedging Instruments)	Derivatives Not Designated as Hedging Instruments Location of Gain (Loss) Recognized on Derivatives in Income Amount of Gain (Loss) on Derivatives Recognized in Income March 30, 2019 March 31, 2018 Foreign currency forward contracts Miscellaneous, net $ 1,630 $ (951 ) Derivatives Not Designated as Hedging Instruments Location of (Loss) Gain Recognized on Derivatives in Income Amount of Gain (Loss) on Derivatives Recognized in Income March 30, 2019 March 31, 2018 Foreign currency forward contracts Miscellaneous, net $ 843 $ (416 )
Schedule of Derivatives Fair Value Measurements Using Input Levels	The following table lists the fair values of liabilities of the Company’s derivatives as of March 30, 2019 and September 29, 2018 , by input level: Fair Value Measurements Using Input Levels (Liability)/Asset In thousands of dollars March 30, 2019 Level 1 Level 2 Level 3 Total Derivatives Forward currency forward contracts $ — $ 986 $ — $ 986 September 29, 2018 Derivatives Forward currency forward contracts $ — $ (1,731 ) $ — $ (1,731 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Mar. 30, 2019
Earnings Per Share [Abstract]
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 and six months ended March 30, 2019 and March 31, 2018 (in thousands, except per share amounts): Three Months Ended Six Months Ended March 30, 2019 March 31, 2018 March 30, 2019 March 31, 2018 Net income (loss) 24,758 12,290 46,984 (86,203 ) Basic weighted average common shares outstanding 30,603 33,538 31,003 33,552 Dilutive effect of share-based awards outstanding 782 849 833 — Diluted weighted average shares outstanding 31,385 34,387 31,836 33,552 Earnings (loss) per share: Basic $ 0.81 $ 0.37 $ 1.52 $ (2.57 ) Diluted $ 0.79 $ 0.36 $ 1.48 $ (2.57 )

Reportable Segments (Tables)

Reportable Segments (Tables)	6 Months Ended
	Mar. 30, 2019
Segment Reporting [Abstract]
Schedule of Reportable Segments Information	Information about the Company’s three reportable segments for the three and six months ended March 30, 2019 and March 31, 2018 , respectively, is as follows (in thousands): Three Months Ended Six Months Ended March 30, 2019 March 31, 2018 March 30, 2019 March 31, 2018 Net sales: AMER $ 364,490 $ 301,835 $ 718,357 $ 600,878 APAC 378,441 350,375 756,553 696,498 EMEA 75,822 73,942 148,120 137,774 Elimination of inter-segment sales (29,702 ) (27,501 ) (68,435 ) (59,205 ) $ 789,051 $ 698,651 $ 1,554,595 $ 1,375,945 Operating income (loss): AMER $ 14,230 $ 10,702 $ 28,680 $ 21,225 APAC 48,704 49,171 100,515 99,703 EMEA (133 ) 389 863 (732 ) Corporate and other costs (29,627 ) (42,947 ) (59,933 ) (71,324 ) $ 33,174 $ 17,315 $ 70,125 $ 48,872 Other income (expense): Interest expense (3,145 ) (3,547 ) (5,394 ) (7,272 ) Interest income 440 1,426 965 2,981 Miscellaneous, net (1,773 ) (477 ) (2,885 ) (823 ) Income before income taxes 28,696 14,717 62,811 43,758 March 30, September 29, Total assets: AMER $ 733,925 $ 645,791 APAC 980,888 937,510 EMEA 201,627 193,797 Corporate and eliminations 84,411 155,544 $ 2,000,851 $ 1,932,642

Guarantees (Tables)

Guarantees (Tables)	6 Months Ended
	Mar. 30, 2019
Guarantees [Abstract]
Schedule of Activity Related to Limited Warranty Liability	Below is a table summarizing the activity related to the Company’s limited warranty liability for the six months ended March 30, 2019 and March 31, 2018 (in thousands): Six Months Ended March 30, 2019 March 31, 2018 Reserve balance, beginning of period $ 6,646 $ 4,756 Accruals for warranties issued during the period 2,374 2,131 Settlements (in cash or in kind) during the period (1,737 ) (1,579 ) Reserve balance, end of period $ 7,283 $ 5,308

Revenue From Contracts with C_2

Revenue From Contracts with Customers (Tables)	6 Months Ended
	Mar. 30, 2019
Revenue from Contract with Customer [Abstract]
Schedule of Impacts of Adoption of New Accounting Pronouncement	The effects of the adoption on the Company's Condensed Consolidated Financial Statements for the three and six months ended March 30, 2019 were as follows (in thousands): Three Months Ended March 30, 2019 As Reported Adjustments due to Topic 606 March 30, 2019 As Adjusted - Without Adoption of Topic 606 Net sales $ 789,051 $ 5,359 $ 783,692 Cost of sales 718,415 4,641 713,774 Gross profit 70,636 718 69,918 Operating income 33,174 718 32,456 Income before income taxes 28,696 718 27,978 Income tax expense 3,938 224 3,714 Net income $ 24,758 $ 494 $ 24,264 Six Months Ended March 30, 2019 As Reported Adjustments due to Topic 606 March 30, 2019 As Adjusted - Without Adoption of Topic 606 Net sales $ 1,554,595 $ 11,544 $ 1,543,051 Cost of sales 1,411,576 9,835 1,401,741 Gross profit 143,019 1,709 141,310 Operating income 70,125 1,709 68,416 Income before income taxes 62,811 1,709 61,102 Income tax expense 15,827 418 15,409 Net income $ 46,984 $ 1,291 $ 45,693 March 30, 2019 As Reported Adjustments due to Topic 606 March 30, 2019 As Adjusted - Without Adoption of Topic 606 ASSETS Contract assets $ 86,803 $ 86,803 $ — Inventories 802,261 (78,766 ) 881,027 LIABILITIES AND SHAREHOLDERS' EQUITY Other accrued liabilities $ 92,989 $ (1,069 ) $ 94,058 Retained earnings 1,117,045 9,106 1,107,939 As a result of the adoption of Topic 606, the following adjustments were made to the opening balances of the Company's Condensed Consolidated Balance Sheets (in thousands): Balance at September 29, 2018 Impacts due to adoption of Topic 606 Balance at September 30, 2018 ASSETS Contract assets $ — $ 76,417 $ 76,417 Inventories 794,346 (68,959 ) 725,387 LIABILITIES AND SHAREHOLDERS' EQUITY Other accrued liabilities $ 68,163 $ (357 ) $ 67,806 Retained earnings 1,062,246 7,815 1,070,061
Schedule of Disaggregation of Revenue	The tables below include the Company’s revenue for the three and six months ended March 30, 2019, disaggregated by geographic reportable segment and market sector (in thousands): Three Months Ended March 30, 2019 Reportable Segment: AMER APAC EMEA Total Market Sector: Healthcare/Life Sciences $ 125,434 $ 141,655 $ 32,547 $ 299,636 Industrial/Commercial 94,208 131,808 24,220 250,236 Aerospace/Defense 75,854 47,752 16,904 140,510 Communications 67,681 29,984 1,004 98,669 External revenue $ 363,177 $ 351,199 $ 74,675 $ 789,051 Inter-segment sales 1,313 27,242 1,147 29,702 Segment revenue $ 364,490 $ 378,441 $ 75,822 $ 818,753 Six Months Ended March 30, 2019 Reportable Segment: AMER APAC EMEA Total Market Sector: Healthcare/Life Sciences $ 241,199 $ 293,761 $ 65,254 $ 600,214 Industrial/Commercial 177,926 248,079 43,373 469,378 Aerospace/Defense 138,227 89,846 34,902 262,975 Communications 158,145 60,959 2,924 222,028 External revenue $ 715,497 $ 692,645 $ 146,453 $ 1,554,595 Inter-segment sales 2,860 63,908 1,667 68,435 Segment revenue $ 718,357 $ 756,553 $ 148,120 $ 1,623,030
Schedule of Contract Assets	The following table summarizes the activity in the Company's contract assets during the six months ended March 30, 2019 (in thousands): Contract Assets Beginning balance, September 29, 2018 $ — Cumulative effect adjustment at September 29, 2018 76,417 Revenue recognized 1,393,777 Amounts collected or invoiced (1,383,391 ) Ending balance, March 30, 2019 $ 86,803

Basis of Presentation Narrative

Basis of Presentation Narrative (Details) - USD ($) $ in Thousands	Mar. 30, 2019	Sep. 30, 2018	Sep. 29, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings	$ 1,117,045	$ 1,070,061	$ 1,062,246
ASU 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings	$ 9,106
Adjustments due to the adoption of ASU 2014-09 | ASU 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings		$ 7,815

Inventories - Schedule of Inve

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Mar. 30, 2019	Sep. 30, 2018	Sep. 29, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 657,125		$ 579,377
Work-in-process	55,888		102,337
Finished goods	89,248		112,632
Total inventories, net	$ 802,261	$ 725,387	$ 794,346

Inventories - Narrative (Detai

Inventories - Narrative (Details) - USD ($) $ in Thousands	Mar. 30, 2019	Sep. 29, 2018
Inventory [Line Items]
Customer deposits	$ 129,068	$ 90,782
Inventory
Inventory [Line Items]
Customer deposits	$ 126,700	$ 87,700

Debt, Capital Lease Obligatio_3

Debt, Capital Lease Obligations and Other Financing - Schedule of Debt and Capital Lease Obligations (Details) - USD ($) $ in Thousands	Mar. 30, 2019	Sep. 29, 2018
Debt Instrument [Line Items]
Long-term debt, gross	$ 237,000	$ 150,000
Capital lease and other financing obligations	44,413	39,857
Unamortized deferred financing fees	(1,096)	(1,240)
Total obligations	280,317	188,617
Less: current portion	(93,197)	(5,532)
Long-term debt and capital lease obligations, net of current portion	187,120	183,085
Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 150,000	$ 150,000
Senior Notes | 4.05% Senior Notes, due June 15, 2025
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.05%	4.05%
Long-term debt, gross	$ 100,000	$ 100,000
Senior Notes | 4.22% Senior Notes, due June 15, 2028
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.22%	4.22%
Long-term debt, gross	$ 50,000	$ 50,000
Line of Credit | Borrowings under the credit facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 87,000

Debt, Capital Lease Obligatio_4

Debt, Capital Lease Obligations and Other Financing - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Mar. 30, 2019	Mar. 31, 2018	Sep. 29, 2018
Debt Instrument [Line Items]
Amount of debt outstanding	$ 237,000		$ 150,000
Amount borrowed	667,025	$ 504,616
Debt, Fair Value	237,500		151,900
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum commitment	300,000
Amount credit facility may be further increased	500,000
Highest daily borrowings	229,000
Average daily borrowings	$ 98,900
Annual commitment fee	0.175%
Senior Notes
Debt Instrument [Line Items]
Amount of debt outstanding	$ 150,000		150,000
Senior Notes | 4.05% Senior Notes, due June 15, 2025
Debt Instrument [Line Items]
Amount of debt outstanding	$ 100,000		$ 100,000
Interest rate	4.05%		4.05%
Senior Notes | 4.22% Senior Notes, due June 15, 2028
Debt Instrument [Line Items]
Amount of debt outstanding	$ 50,000		$ 50,000
Interest rate	4.22%		4.22%
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Amount of debt outstanding	$ 87,000
Amount borrowed	666,500
Amount repaid	$ 579,500

Derivatives - Schedule of Fair

Derivatives - Schedule of Fair Values of Derivative Instruments (Details) - Foreign currency forward contracts - USD ($) $ in Thousands	Mar. 30, 2019	Sep. 29, 2018
Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 300
Liability Derivatives		$ 100
Prepaid expenses and other | Derivatives designated as hedging instruments
Derivatives, Fair Value [Line Items]
Asset Derivatives	670	292
Prepaid expenses and other | Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Asset Derivatives	378	42
Other accrued liabilities | Derivatives designated as hedging instruments
Derivatives, Fair Value [Line Items]
Liability Derivatives	0	1,984
Other accrued liabilities | Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 62	$ 81

Derivatives - Schedule of Deri

Derivatives - Schedule of Derivative Impact on Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 30, 2019	Mar. 31, 2018	Mar. 30, 2019	Mar. 31, 2018
Foreign currency forward contracts | Derivatives designated as hedging instruments | Derivatives in Cash Flow Hedging Relationships
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain Recognized in OCI on Derivatives (Effective Portion)	$ 1,241	$ 3,625	$ 853	$ 6,339

Derivatives - Schedule of De_2

Derivatives - Schedule of Derivative Impact on Gain (Loss) Recognized in Income (Designated as Hedging Instruments) (Details) - Derivatives designated as hedging instruments - Derivatives in Cash Flow Hedging Relationships - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 30, 2019	Mar. 31, 2018	Mar. 30, 2019	Mar. 31, 2018
Foreign currency forward contracts | Selling and administrative expenses
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (Loss) Gain Reclassified from Accumulated OCI into Income (Effective Portion)	$ (73)	$ 224	$ (155)	$ 329
Foreign currency forward contracts | Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (Loss) Gain Reclassified from Accumulated OCI into Income (Effective Portion)	(670)	2,091	(1,354)	3,082
Treasury Rate Locks | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (Loss) Gain Reclassified from Accumulated OCI into Income (Effective Portion)	$ 0	$ 81	$ 0	$ 160

Derivatives - Schedue of Deriva

Derivatives - Schedue of Derivative Impact on Gain (Loss) Recognized in Income (Not Designated as Hedging Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 30, 2019	Mar. 31, 2018	Mar. 30, 2019	Mar. 31, 2018
Derivatives not designated as hedging instruments | Foreign currency forward contracts | Miscellaneous, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) on Derivatives Recognized in Income	$ 843	$ (416)	$ 1,630	$ (951)

Derivatives - Schedule of De_3

Derivatives - Schedule of Derivatives Fair Value Measurements Using Input Levels (Details) - Recurring - Foreign currency forward contracts - USD ($) $ in Thousands	Mar. 30, 2019	Sep. 29, 2018
Derivative asset	$ 986
Derivative liability		$ 1,731
Level 1
Derivative asset	0	0
Level 2
Derivative asset	986
Derivative liability		1,731
Level 3
Derivative asset	$ 0	$ 0

Derivatives - Narrative (Detai

Derivatives - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 30, 2019	Mar. 31, 2018	Mar. 30, 2019	Mar. 31, 2018	Sep. 29, 2018
Estimated unrealized gains (losses), net of tax, expected to be reclassified in next 12 months			$ 700,000
Gains (losses) recognized in income for derivatives related to ineffective portions and amounts excluded from effectiveness testing	$ 0	$ 0	0	$ 0
Derivatives designated as hedging instruments | Derivatives in Cash Flow Hedging Relationships | Foreign currency forward contracts
Notional amount of forward exchange contracts	77,100,000		77,100,000		$ 74,000,000
Fair value of derivative asset	700,000		700,000
Fair value of derivative liability					1,700,000
Derivatives not designated as hedging instruments | Foreign currency forward contracts
Notional amount of forward exchange contracts	34,600,000		34,600,000		28,600,000
Fair value of derivative asset	$ 300,000		$ 300,000
Fair value of derivative liability					$ 100,000

Income Taxes - Narrative (Deta

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 30, 2019	Mar. 31, 2018	Mar. 30, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income tax expense	$ 3,938	$ 2,427	$ 15,827	$ 129,961
Effective income tax rate	13.70%	16.50%	25.20%	297.00%
One-time Employee Bonus Impact on Effective Income Tax Rate		$ 13,500
Unrecognized tax benefits			$ 1,700

Earnings Per Share - Reconcili

Earnings Per Share - 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		6 Months Ended
	Mar. 30, 2019	Mar. 31, 2018	Mar. 30, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Net income (loss)	$ 24,758	$ 12,290	$ 46,984	$ (86,203)
Basic weighted average common shares outstanding (in shares)	30,603	33,538	31,003	33,552
Dilutive effect of share-based awards outstanding (in shares)	782	849	833	0
Diluted weighted average shares outstanding (in shares)	31,385	34,387	31,836	33,552
Earnings (loss) per share:
Basic (in dollars per share)	$ 0.81	$ 0.37	$ 1.52	$ (2.57)
Diluted (in dollars per share)	$ 0.79	$ 0.36	$ 1.48	$ (2.57)

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Mar. 30, 2019	Mar. 31, 2018	Mar. 30, 2019	Mar. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Diluted Earnings Per Share				2
Share-based awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Diluted Earnings Per Share	0.1	0.3	0.1

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 30, 2019	Mar. 31, 2018	Mar. 30, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Expense	$ 5.2	$ 4.5	$ 9.9	$ 8.4
Performance Shares [Member] | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares that may be issued (in shares)	0		0
Performance Shares [Member] | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares that may be issued (in shares)	500,000		500,000

Reportable Segments - Reportab

Reportable Segments - Reportable Segments Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 30, 2019	Mar. 31, 2018	Mar. 30, 2019	Mar. 31, 2018	Sep. 29, 2018
Net sales	$ 789,051	$ 698,651	$ 1,554,595	$ 1,375,945
Operating income (loss):	33,174	17,315	70,125	48,872
Interest expense	(3,145)	(3,547)	(5,394)	(7,272)
Interest income	440	1,426	965	2,981
Miscellaneous, net	(1,773)	(477)	(2,885)	(823)
Income before income taxes	28,696	14,717	62,811	43,758
Total assets	2,000,851		2,000,851		$ 1,932,642
Elimination of inter-segment sales
Net sales	(29,702)	(27,501)	(68,435)	(59,205)
Corporate
Operating income (loss):	(29,627)	(42,947)	(59,933)	(71,324)
Corporate and eliminations
Total assets	84,411		84,411		155,544
AMER | Operating Segments
Net sales	364,490	301,835	718,357	600,878
Operating income (loss):	14,230	10,702	28,680	21,225
Total assets	733,925		733,925		645,791
APAC | Operating Segments
Net sales	378,441	350,375	756,553	696,498
Operating income (loss):	48,704	49,171	100,515	99,703
Total assets	980,888		980,888		937,510
EMEA | Operating Segments
Net sales	75,822	73,942	148,120	137,774
Operating income (loss):	(133)	$ 389	863	$ (732)
Total assets	$ 201,627		$ 201,627		$ 193,797

Reportable Segments - Narrativ

Reportable Segments - Narrative (Details)	6 Months Ended
	Mar. 30, 2019segment
Segment Reporting [Abstract]
Number of reportable segments	3

Guarantees - Narrative (Details

Guarantees - Narrative (Details)	6 Months Ended
	Mar. 30, 2019
Minimum
Product Warranty Liability [Line Items]
Product warranty specification period	12 months
Maximum
Product Warranty Liability [Line Items]
Product warranty specification period	24 months

Guarantees - Schedule of Activ

Guarantees - Schedule of Activity Related to Limited Warranty Liability (Details) - USD ($) $ in Thousands	6 Months Ended
	Mar. 30, 2019	Mar. 31, 2018
Movement in Standard Product Warranty Accrual [Roll Forward]
Limited warranty liability, beginning balance	$ 6,646	$ 4,756
Accruals for warranties issued during the period	2,374	2,131
Settlements (in cash or in kind) during the period	(1,737)	(1,579)
Limited warranty liability, ending balance	$ 7,283	$ 5,308

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Mar. 30, 2019	Mar. 31, 2018	Mar. 30, 2019	Mar. 31, 2018	Feb. 14, 2018	Jun. 06, 2016
2018 Stock Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Authorized repurchase amount					$ 200
Amount repurchased (in shares)	991,683		1,861,632
Amount repurchased	$ 56.2		$ 106.3
Average repurchase price (in dollars per share)	$ 56.72		$ 57.10
Remaining authorized repurchase amount	$ 72.5		$ 72.5
2016 Stock Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Authorized repurchase amount						$ 150
Amount repurchased (in shares)		512,943		671,409
Amount repurchased		$ 31.6		$ 41.2
Average repurchase price (in dollars per share)		$ 61.63		$ 61.30

Trade Accounts Receivable Sal_2

Trade Accounts Receivable Sale Programs - Narrative (Details) - USD ($) $ in Millions	Mar. 30, 2019	Mar. 30, 2019	Mar. 31, 2018	Mar. 30, 2019	Mar. 19, 2019	Mar. 31, 2018
Amount Received From Trade Accounts Receivable Sold To Third Party [Line Items]
Trade accounts receivables sold		$ 241.9	$ 135.9	$ 474.4		$ 298.3
Cash proceeds received from trade accounts receivable sold		$ 240.4	$ 135.2	$ 471.6		$ 296.7
MUFG RPA
Amount Received From Trade Accounts Receivable Sold To Third Party [Line Items]
Maximum facility amount	$ 260				$ 230
Minimum prior notice required to cancel automatic extension				10 days
HSBC RPA
Amount Received From Trade Accounts Receivable Sold To Third Party [Line Items]
Maximum facility amount				$ 60

Revenue From Contracts with C_3

Revenue From Contracts with Customers - Schedule of Impacts of Adoption of New Accounting Pronouncement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 30, 2019	Mar. 31, 2018	Mar. 30, 2019	Mar. 31, 2018	Sep. 30, 2018	Sep. 29, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contract assets	$ 86,803		$ 86,803		$ 76,417	$ 0
Inventories, net	802,261		802,261		725,387	794,346
Other accrued liabilities	92,989		92,989		67,806	68,163
Retained earnings	1,117,045		1,117,045		1,070,061	$ 1,062,246
Net sales	789,051	$ 698,651	1,554,595	$ 1,375,945
Cost of sales	718,415	645,699	1,411,576	1,259,470
Gross profit	70,636	52,952	143,019	116,475
Operating income	33,174	17,315	70,125	48,872
Income before income taxes	28,696	14,717	62,811	43,758
Income tax expense	3,938	2,427	15,827	129,961
Net income (loss)	24,758	$ 12,290	46,984	$ (86,203)
ASU 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contract assets	86,803		86,803
Inventories, net	(78,766)		(78,766)
Other accrued liabilities	(1,069)		(1,069)
Retained earnings	9,106		9,106
Net sales	5,359		11,544
Cost of sales	4,641		9,835
Gross profit	718		1,709
Operating income	718		1,709
Income before income taxes	718		1,709
Income tax expense	224		418
Net income (loss)	494		1,291
Balance without the adoption of ASU 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contract assets	0		0
Inventories, net	881,027		881,027
Other accrued liabilities	94,058		94,058
Retained earnings	1,107,939		1,107,939
Net sales	783,692		1,543,051
Cost of sales	713,774		1,401,741
Gross profit	69,918		141,310
Operating income	32,456		68,416
Income before income taxes	27,978		61,102
Income tax expense	3,714		15,409
Net income (loss)	$ 24,264		$ 45,693
Adjustments due to the adoption of ASU 2014-09 | ASU 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contract assets					76,417
Inventories, net					(68,959)
Other accrued liabilities					(357)
Retained earnings					$ 7,815

Revenue From Contracts with C_4

Revenue From Contracts with Customers - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 30, 2019	Mar. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	$ 818,753	$ 1,623,030
Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	789,051	1,554,595
Elimination of inter-segment sales
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	29,702	68,435
Healthcare/Life Sciences | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	299,636	600,214
Industrial/Commercial | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	250,236	469,378
Aerospace/Defense | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	140,510	262,975
Communications | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	98,669	222,028
AMER
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	364,490	718,357
AMER | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	363,177	715,497
AMER | Elimination of inter-segment sales
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	1,313	2,860
AMER | Healthcare/Life Sciences | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	125,434	241,199
AMER | Industrial/Commercial | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	94,208	177,926
AMER | Aerospace/Defense | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	75,854	138,227
AMER | Communications | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	67,681	158,145
APAC
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	378,441	756,553
APAC | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	351,199	692,645
APAC | Elimination of inter-segment sales
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	27,242	63,908
APAC | Healthcare/Life Sciences | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	141,655	293,761
APAC | Industrial/Commercial | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	131,808	248,079
APAC | Aerospace/Defense | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	47,752	89,846
APAC | Communications | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	29,984	60,959
EMEA
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	75,822	148,120
EMEA | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	74,675	146,453
EMEA | Elimination of inter-segment sales
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	1,147	1,667
EMEA | Healthcare/Life Sciences | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	32,547	65,254
EMEA | Industrial/Commercial | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	24,220	43,373
EMEA | Aerospace/Defense | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	16,904	34,902
EMEA | Communications | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	$ 1,004	$ 2,924

Revenue From Contracts with C_5

Revenue From Contracts with Customers - Schedule of Contract Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Mar. 30, 2019	Sep. 30, 2018	Sep. 29, 2018
Change in Contract with Customer Assets [Line Items]
Contract assets	$ 86,803	$ 76,417	$ 0
Revenue recognized	1,393,777
Amounts collected or invoiced	(1,383,391)
Balance without the adoption of ASU 2014-09
Change in Contract with Customer Assets [Line Items]
Contract assets	0
ASU 2014-09
Change in Contract with Customer Assets [Line Items]
Contract assets	$ 86,803
ASU 2014-09 | Adjustments due to the adoption of ASU 2014-09
Change in Contract with Customer Assets [Line Items]
Contract assets		$ 76,417

Revenue From Contracts with C_6

Revenue From Contracts with Customers - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 30, 2019	Mar. 30, 2019	Sep. 30, 2018	Sep. 29, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings	$ 1,117,045	$ 1,117,045	$ 1,070,061	$ 1,062,246
Contract assets	86,803	86,803	76,417	0
Inventories, net	$ 802,261	$ 802,261	725,387	$ 794,346
Transferred over Time [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Percentage of Revenue	90.00%	90.00%
ASU 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings	$ 9,106	$ 9,106
Contract assets	86,803	86,803
Inventories, net	$ (78,766)	$ (78,766)
Adjustments due to the adoption of ASU 2014-09 | ASU 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings			7,815
Contract assets			76,417
Inventories, net			$ (68,959)

Acquisition -Narrative (Details

Acquisition -Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended		12 Months Ended
	Dec. 29, 2018	Mar. 30, 2019	Mar. 31, 2018	Sep. 29, 2018
Acquisition [Abstract]
Payments to Acquire Businesses, Net of Cash Acquired				$ 12,400
Business acquisition	$ 1,180	$ 1,180	$ 0