Plexus (PLXS) 10-Q 2 Aug 19 2019 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Jun. 29, 2019	Jul. 30, 2019
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 29, 2019
Document Transition Report	false
Entity File Number	001-14423
Entity Registrant Name	PLEXUS CORP
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-1344447
Entity Address, Address Line One	One Plexus Way
Entity Address, City or Town	Neenah
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	54957
City Area Code	920
Local Phone Number	969-6000
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	PLXS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		29,280,640
Entity Central Index Key	0000785786
Current Fiscal Year End Date	--09-28
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Income Statement [Abstract]
Net sales	$ 799,644	$ 726,385	$ 2,354,239	$ 2,102,330
Cost of sales	728,614	658,564	2,140,190	1,918,034
Gross profit	71,030	67,821	214,049	184,296
Selling and administrative expenses	36,627	35,375	109,521	102,978
Operating income	34,403	32,446	104,528	81,318
Other income (expense):
Interest expense	(3,711)	(2,910)	(9,105)	(10,182)
Interest income	445	1,068	1,410	4,049
Miscellaneous, net	(1,419)	(1,052)	(4,304)	(1,875)
Income before income taxes	29,718	29,552	92,529	73,310
Income tax expense	4,917	3,051	20,744	133,012
Net income (loss)	$ 24,801	$ 26,501	$ 71,785	$ (59,702)
Earnings (loss) per share:
Basic (in dollars per share)	$ 0.83	$ 0.81	$ 2.34	$ (1.79)
Diluted (in dollars per share)	$ 0.81	$ 0.79	$ 2.28	$ (1.79)
Weighted average shares outstanding:
Basic (in shares)	29,912	32,796	30,637	33,300
Diluted (in shares)	30,635	33,651	31,420	33,300
Other comprehensive income:
Derivative instrument fair value adjustments	$ (406)	$ (5,023)	$ 1,956	$ (2,255)
Foreign currency translation adjustments	(679)	(7,965)	(2,035)	(1,050)
Other comprehensive loss	(1,085)	(12,988)	(79)	(3,305)
Total comprehensive income (loss)	$ 23,716	$ 13,513	$ 71,706	$ (63,007)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 29, 2019	Sep. 29, 2018
Current assets:
Cash and cash equivalents	$ 198,395	$ 297,269
Restricted cash	7,004	417
Accounts receivable, net of allowances of $1,170 and $885, respectively	459,311	394,827
Contract assets	105,201	0
Inventories, net	757,206	794,346
Prepaid expenses and other	30,584	30,302
Total current assets	1,557,701	1,517,161
Property, plant and equipment, net	381,351	341,306
Deferred income taxes	10,827	10,825
Intangible assets, net	7,214	8,239
Other	59,138	55,111
Total non-current assets	458,530	415,481
Total assets	2,016,231	1,932,642
Current liabilities:
Current portion of long-term debt and capital lease obligations	138,976	5,532
Accounts payable	430,586	506,322
Customer deposits	130,626	90,782
Accrued salaries and wages	68,016	66,874
Other accrued liabilities	107,432	68,163
Total current liabilities	875,636	737,673
Long-term debt and capital lease obligations, net of current portion	187,581	183,085
Long-term accrued income taxes payable	58,296	56,130
Deferred income taxes payable	14,829	14,376
Other liabilities	19,098	20,235
Total non-current liabilities	279,804	273,826
Total liabilities	1,155,440	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, 52,862 and 52,567 shares issued, respectively, and 29,487 and 31,838 shares outstanding, respectively	529	526
Additional paid-in capital	592,316	581,488
Common stock held in treasury, at cost, 23,375 and 20,729 shares, respectively	(861,842)	(711,138)
Retained earnings	1,141,846	1,062,246
Accumulated other comprehensive loss	(12,058)	(11,979)
Total shareholders’ equity	860,791	921,143
Total liabilities and shareholders’ equity	$ 2,016,231	$ 1,932,642

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 29, 2019	Sep. 29, 2018
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 1,170	$ 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)	52,862,000	52,567,000
Common stock, shares outstanding (in shares)	29,487,000	31,838,000
Treasury stock, shares (in shares)	23,375,000	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 (loss) income
Beginning of period (in shares) at Sep. 30, 2017			33,464,000
Exercise of stock options and vesting of other stock awards (in shares)			516,000
Treasury shares purchased (in shares)			(1,619,000)
End of period (in shares) at Jun. 30, 2018			32,361,000
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			6
Share-based compensation expense				13,206
Exercise of stock options and vesting of other stock awards, including tax benefits				4,056
Treasury shares purchased					(97,840)
Net income (loss)		(59,702)				(59,702)
Other comprehensive loss		(3,305)					(3,305)
End of period at Jun. 30, 2018		882,360	$ 525	572,559	(671,944)	989,504	(8,284)
Beginning of period (in shares) at Mar. 31, 2018			33,293,000
Exercise of stock options and vesting of other stock awards (in shares)			16,000
Treasury shares purchased (in shares)			(948,000)
End of period (in shares) at Jun. 30, 2018			32,361,000
Beginning of period at Mar. 31, 2018		920,503	$ 524	567,535	(615,263)	963,003	4,704
Exercise of stock options and vesting of other stock awards			1
Share-based compensation expense				4,786
Exercise of stock options and vesting of other stock awards, including tax benefits				238
Treasury shares purchased					(56,681)
Net income (loss)		26,501				26,501
Other comprehensive loss		(12,988)					(12,988)
End of period at Jun. 30, 2018		$ 882,360	$ 525	572,559	(671,944)	989,504	(8,284)
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)			295,000
Treasury shares purchased (in shares)			(2,646,000)
End of period (in shares) at Jun. 29, 2019		29,487,000	29,487,000
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			3
Share-based compensation expense				15,355
Exercise of stock options and vesting of other stock awards, including tax benefits				(4,527)
Treasury shares purchased					(150,704)
Net income (loss)		71,785				71,785
Other comprehensive loss		(79)					(79)
End of period at Jun. 29, 2019		$ 860,791	$ 529	592,316	(861,842)	1,141,846	(12,058)
Beginning of period (in shares) at Mar. 30, 2019			30,241,000
Exercise of stock options and vesting of other stock awards (in shares)			30,000
Treasury shares purchased (in shares)			(784,000)
End of period (in shares) at Jun. 29, 2019		29,487,000	29,487,000
Beginning of period at Mar. 30, 2019		$ 875,444	$ 528	586,279	(817,435)	1,117,045	(10,973)
Exercise of stock options and vesting of other stock awards			1
Share-based compensation expense				5,426
Exercise of stock options and vesting of other stock awards, including tax benefits				611
Treasury shares purchased					(44,407)
Net income (loss)		24,801				24,801
Other comprehensive loss		(1,085)					(1,085)
End of period at Jun. 29, 2019		$ 860,791	$ 529	$ 592,316	$ (861,842)	$ 1,141,846	$ (12,058)
[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	9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018
Cash flows from operating activities
Net income (loss)	$ 71,785	$ (59,702)
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
Depreciation and amortization	38,795	35,761
Deferred income taxes	2,448	23,106
Share-based compensation expense	15,355	13,206
Other, net	148	(117)
Changes in operating assets and liabilities, excluding impacts of acquisition:
Accounts receivable	(65,324)	(14,723)
Contract assets	(28,692)	0
Inventories	(33,756)	(102,320)
Other current and noncurrent assets	(3,537)	(21,124)
Accrued income taxes payable	(1,648)	98,552
Accounts payable	(72,014)	63,743
Customer deposits	39,979	(6,128)
Other current and noncurrent liabilities	43,493	11,216
Cash flows provided by operating activities	7,032	41,470
Cash flows from investing activities
Payments for property, plant and equipment	(74,602)	(52,077)
Proceeds from sales of property, plant and equipment	160	426
Business acquisition	1,180	0
Cash flows used in investing activities	(73,262)	(51,651)
Cash flows from financing activities
Borrowings under debt agreements	884,500	673,052
Payments on debt and capital lease obligations	(754,743)	(806,910)
Debt issuance costs	(688)	(729)
Repurchases of common stock	(150,704)	(97,840)
Proceeds from exercise of stock options	2,023	9,523
Payments related to tax withholding for share-based compensation	(6,547)	(5,461)
Cash flows used in financing activities	(26,159)	(228,365)
Effect of exchange rate changes on cash and cash equivalents	102	2,843
Net decrease in cash and cash equivalents and restricted cash	(92,287)	(235,703)
Cash and cash equivalents and restricted cash:
Beginning of period	297,686	569,254
End of period	$ 205,399	$ 333,551

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jun. 29, 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 June 29, 2019 and September 29, 2018 , the results of operations and shareholders' equity for the three and nine months ended June 29, 2019 and June 30, 2018 , and the cash flows for the same nine 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 fiscal 2019 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 and the standard must be adopted using a modified retrospective approach. The Company plans to adopt the standard in the first quarter of fiscal year 2020 and intends to elect the package of practical expedients offered, which allows entities to not reassess: (i) whether any contracts prior to the adoption date are or contain leases, (ii) lease classification, and (iii) whether capitalized initial direct costs continue to meet the definition of initial direct costs under the new guidance. While the Company is currently evaluating accounting policy elections and assessing overall impacts this standard will on its Consolidated Financial Statements, the new guidance is expected to have a material impact on the Consolidated Balance Sheets upon adoption, primarily due to the recognition of right-of-use assets and operating lease liabilities. 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 plans to adopt the standard in the first quarter of fiscal year 2020. 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	9 Months Ended
	Jun. 29, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories as of June 29, 2019 and September 29, 2018 consisted of the following (in thousands): June 29, September 29, Raw materials $ 629,668 $ 579,377 Work-in-process 52,470 102,337 Finished goods 75,068 112,632 Total inventories, net $ 757,206 $ 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 June 29, 2019 and September 29, 2018 was $128.8 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	9 Months Ended
	Jun. 29, 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 June 29, 2019 and September 29, 2018 , consisted of the following (in thousands): June 29, September 29, 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 133,000 — Capital lease and other financing obligations 45,227 39,857 Unamortized deferred financing fees (1,670 ) (1,240 ) Total obligations 326,557 188,617 Less: current portion (138,976 ) (5,532 ) Long-term debt and capital lease obligations, net of current portion $ 187,581 $ 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 June 29, 2019 , the Company was in compliance with the covenants under the 2018 NPA. On May 15, 2019, the Company refinanced its then-existing senior unsecured revolving credit facility (the "Prior Credit Facility") by entering into a new five-year senior unsecured revolving credit facility (collectively with the Prior Credit Facility, referred to as the "Credit Facility"), which expanded the maximum commitment from $300 million to $350 million and extended the maturity from July 5, 2021 to May 15, 2024 . The maximum commitment under the Credit Facility may be further increased to $600 million , generally by mutual agreement of the Company and the lenders, subject to certain customary conditions. During the nine months ended June 29, 2019 , the highest daily borrowing was $235.5 million ; the average daily borrowings were $124.6 million . The Company borrowed $884.5 million and repaid $751.5 million of revolving borrowings under the Credit Facility during the nine months ended June 29, 2019 . As of June 29, 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 0.125% as of June 29, 2019 . The fair value of the Company’s debt, excluding capital leases, was $287.6 million and $151.9 million as of June 29, 2019 and September 29, 2018 , respectively. The carrying value of the Company's debt, excluding capital leases, was $283.0 million and $150.0 million as of June 29, 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	9 Months Ended
	Jun. 29, 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 $0.3 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 $78.3 million as of June 29, 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 these forward currency exchange contracts was a $0.3 million asset as of June 29, 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 $33.8 million as of June 29, 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 liability as of June 29, 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 June 29, September 29, June 29, 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 $ 285 $ 292 Other accrued liabilities $ 21 $ 1,984 Fair Values of Derivative Instruments In thousands of dollars Asset Derivatives Liability Derivatives June 29, September 29, June 29, 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 $ 89 $ 42 Other accrued liabilities $ 400 $ 81 Derivative Impact on Accumulated Other Comprehensive Income (Loss) ("OCI") for the Three Months Ended In thousands of dollars Derivatives in Cash Flow Hedging Relationships Amount of Gain (Loss) Recognized in OCI on Derivatives (Effective Portion) June 29, 2019 June 30, 2018 Foreign currency forward contracts $ (578 ) $ (2,856 ) Derivative Impact on (Loss) Gain 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) June 29, 2019 June 30, 2018 Foreign currency forward contracts Cost of sales $ (153 ) $ 1,894 Foreign currency forward contracts Selling and administrative expenses $ (19 ) $ 207 Treasury rate locks Interest expense $ — $ 66 Derivatives Not Designated as Hedging Instruments Location of Gain Recognized on Derivatives in Income Amount of Gain on Derivatives Recognized in Income June 29, 2019 June 30, 2018 Foreign currency forward contracts Miscellaneous, net $ 235 $ 717 Derivative Impact on Accumulated Other Comprehensive Income (Loss) ("OCI") for the Nine Months Ended In thousands of dollars Derivatives in Cash Flow Hedging Relationships Amount of Gain Recognized in OCI on Derivatives (Effective Portion) June 29, 2019 June 30, 2018 Foreign currency forward contracts $ 275 $ 3,483 Derivative Impact on (Loss) Gain Recognized in Income for the Nine 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) June 29, 2019 June 30, 2018 Foreign currency forward contracts Cost of sales $ (1,507 ) $ 4,976 Foreign currency forward contracts Selling and administrative expenses $ (174 ) $ 536 Treasury Rate Locks Interest expense $ — $ 226 Derivatives Not Designated as Hedging Instruments Location of Gain (Loss) Recognized on Derivatives in Income Amount of Gain (Loss) on Derivatives Recognized in Income June 29, 2019 June 30, 2018 Foreign currency forward contracts Miscellaneous, net $ 1,865 $ (234 ) 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 nine months ended June 29, 2019 and June 30, 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 June 29, 2019 and September 29, 2018 , by input level: Fair Value Measurements Using Input Levels (Liability)/Asset In thousands of dollars June 29, 2019 Level 1 Level 2 Level 3 Total Derivatives Forward currency forward contracts $ — $ (47 ) $ — $ (47 ) 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	9 Months Ended
	Jun. 29, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense for the three and nine months ended June 29, 2019 was $4.9 million and $20.7 million , respectively, compared to $3.1 million and $133.0 million for the three and nine months ended June 30, 2018 , respectively. The effective tax rates for the three and nine months ended June 29, 2019 , were 16.5% and 22.4% , respectively, compared to the effective tax rates of 10.3% and 181.4% for the three and nine months ended June 30, 2018 , respectively. The effective tax rate for the three months ended June 29, 2019 increased from the effective tax rate for the three months ended June 30, 2018 , primarily due to the impact of the Global Intangible Low-Tax Income provision of the U.S. Tax Cuts & Jobs Act (“Tax Reform”). The effective tax rate for the nine months ended June 29, 2019 decreased from the effective tax rate for the nine months ended June 30, 2018 , primarily due to the impact of Tax Reform, which was enacted on December 22, 2017. There were no material additions to the amount of unrecognized tax benefits recorded for uncertain tax positions for the three months ended June 29, 2019 . For the nine months ended June 29, 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 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 nine months ended June 29, 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 June 29, 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	9 Months Ended
	Jun. 29, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Earnings (Loss) 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 nine months ended June 29, 2019 and June 30, 2018 (in thousands, except per share amounts): Three Months Ended Nine Months Ended June 29, June 30, June 29, June 30, Net income (loss) 24,801 26,501 71,785 (59,702 ) Basic weighted average common shares outstanding 29,912 32,796 30,637 33,300 Dilutive effect of share-based awards outstanding 723 855 783 — Diluted weighted average shares outstanding 30,635 33,651 31,420 33,300 Earnings (loss) per share: Basic $ 0.83 $ 0.81 $ 2.34 $ (1.79 ) Diluted $ 0.81 $ 0.79 $ 2.28 $ (1.79 ) For both the three and nine months ended June 29, 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 June 30, 2018 , 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 nine months ended June 30, 2018 , the total number of potentially dilutive share-based awards was 0.9 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	9 Months Ended
	Jun. 29, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	Share-Based Compensation The Company recognized $5.4 million and $15.4 million of compensation expense associated with share-based awards for the three and nine months ended June 29, 2019 , respectively, and $4.8 million and $13.2 million for the three and nine months ended June 30, 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. Since fiscal 2017, grants of PSUs have vested 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	9 Months Ended
	Jun. 29, 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	9 Months Ended
	Jun. 29, 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 nine months ended June 29, 2019 and June 30, 2018 , respectively, is as follows (in thousands): Three Months Ended Nine Months Ended June 29, June 30, June 29, June 30, Net sales: AMER $ 366,466 $ 298,375 $ 1,084,823 $ 899,253 APAC 384,841 383,785 1,141,394 1,080,283 EMEA 81,318 74,331 229,438 212,105 Elimination of inter-segment sales (32,981 ) (30,106 ) (101,416 ) (89,311 ) $ 799,644 $ 726,385 $ 2,354,239 $ 2,102,330 Operating income (loss): AMER $ 14,221 $ 6,799 $ 42,901 $ 28,025 APAC 51,264 55,274 151,779 154,977 EMEA 1,522 1,837 2,385 1,105 Corporate and other costs (32,604 ) (31,464 ) (92,537 ) (102,789 ) $ 34,403 $ 32,446 $ 104,528 $ 81,318 Other income (expense): Interest expense (3,711 ) (2,910 ) (9,105 ) (10,182 ) Interest income 445 1,068 1,410 4,049 Miscellaneous, net (1,419 ) (1,052 ) (4,304 ) (1,875 ) Income before income taxes 29,718 29,552 92,529 73,310 June 29, September 29, Total assets: AMER $ 769,891 $ 645,791 APAC 957,685 937,510 EMEA 211,073 193,797 Corporate and eliminations 77,582 155,544 $ 2,016,231 $ 1,932,642

Guarantees

Guarantees	9 Months Ended
	Jun. 29, 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 nine months ended June 29, 2019 and June 30, 2018 (in thousands): Nine Months Ended June 29, June 30, Reserve balance, beginning of period $ 6,646 $ 4,756 Accruals for warranties issued during the period 2,930 3,660 Settlements (in cash or in kind) during the period (2,420 ) (2,136 ) Reserve balance, end of period $ 7,156 $ 6,280

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Jun. 29, 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 June 29, 2019 , the Company repurchased 784,493 shares for $44.4 million , at an average price of $56.61 per share. During the nine months ended June 29, 2019 , the Company repurchased 2,646,125 shares for $150.7 million , at an average price of $56.95 . As of June 29, 2019 , $28.1 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 June 30, 2018 , the Company repurchased 947,685 shares for $56.7 million , at an average price of $59.81 per share. During the nine months ended June 30, 2018 , the Company repurchased 1,619,094 shares for $97.8 million , at an average price of $60.43 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	9 Months Ended
	Jun. 29, 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 June 21, 2019, to increase the maximum facility amount from $260.0 million to $280.0 million . The maximum facility amount under the HSBC RPA as of June 29, 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 $223.6 million and $199.1 million of trade accounts receivable under these programs during the three months ended June 29, 2019 and June 30, 2018 , respectively, in exchange for cash proceeds of $222.1 million and $197.8 million , respectively. The Company sold $698.0 million and $497.4 million of trade accounts receivable under these programs during the nine months ended June 29, 2019 and June 30, 2018 , respectively, in exchange for cash proceeds of $693.7 million and $494.4 million

Revenue From Contracts with Cus

Revenue From Contracts with Customers	9 Months Ended
	Jun. 29, 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 at the beginning of fiscal 2019 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 nine months ended June 29, 2019 were as follows (in thousands): Three Months Ended June 29, 2019 As Reported Adjustments due to Topic 606 June 29, 2019 As Adjusted - Without Adoption of Topic 606 Net sales $ 799,644 $ 17,728 $ 781,916 Cost of sales 728,614 17,741 710,873 Gross profit 71,030 (13 ) 71,043 Operating income 34,403 (13 ) 34,416 Income before income taxes 29,718 (13 ) 29,731 Income tax expense 4,917 1 4,916 Net income $ 24,801 $ (14 ) $ 24,815 Nine Months Ended June 29, 2019 As Reported Adjustments due to Topic 606 June 29, 2019 As Adjusted - Without Adoption of Topic 606 Net sales $ 2,354,239 $ 29,272 $ 2,324,967 Cost of sales 2,140,190 27,576 2,112,614 Gross profit 214,049 1,696 212,353 Operating income 104,528 1,696 102,832 Income before income taxes 92,529 1,696 90,833 Income tax expense 20,744 419 20,325 Net income $ 71,785 $ 1,277 $ 70,508 June 29, 2019 As Reported Adjustments due to Topic 606 June 29, 2019 As Adjusted - Without Adoption of Topic 606 ASSETS Contract assets $ 105,201 $ 105,201 $ — Inventories 757,206 (96,534 ) 853,740 LIABILITIES AND SHAREHOLDERS' EQUITY Other accrued liabilities $ 107,432 $ (425 ) $ 107,857 Retained earnings 1,141,846 9,092 1,132,754 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 nine months ended June 29, 2019 , disaggregated by geographic reportable segment and market sector (in thousands): Three Months Ended June 29, 2019 Reportable Segment: AMER APAC EMEA Total Market Sector: Healthcare/Life Sciences $ 127,644 $ 149,312 $ 31,801 $ 308,757 Industrial/Commercial 91,347 133,374 23,174 247,895 Aerospace/Defense 80,351 47,496 23,580 151,427 Communications 64,799 26,279 487 91,565 External revenue $ 364,141 $ 356,461 $ 79,042 $ 799,644 Inter-segment sales 2,325 28,380 2,276 32,981 Segment revenue $ 366,466 $ 384,841 $ 81,318 $ 832,625 Nine Months Ended June 29, 2019 Reportable Segment: AMER APAC EMEA Total Market Sector: Healthcare/Life Sciences $ 368,843 $ 443,073 $ 97,055 $ 908,971 Industrial/Commercial 269,273 381,453 66,547 717,273 Aerospace/Defense 218,578 137,342 58,482 414,402 Communications 222,944 87,238 3,411 313,593 External revenue $ 1,079,638 $ 1,049,106 $ 225,495 $ 2,354,239 Inter-segment sales 5,185 92,288 3,943 101,416 Segment revenue $ 1,084,823 $ 1,141,394 $ 229,438 $ 2,455,655 For the three and nine months ended June 29, 2019 , approximately 92% and 90% of the Company's revenue was recognized as products and services were transferred over time, respectively. 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 nine months ended June 29, 2019 (in thousands): Contract Assets Beginning balance, September 29, 2018 $ — Cumulative effect adjustment at September 29, 2018 76,417 Revenue recognized 2,126,379 Amounts collected or invoiced (2,097,595 ) Ending balance, June 29, 2019 $ 105,201 Deferred Revenue

Acquisition

Acquisition	9 Months Ended
	Jun. 29, 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)	9 Months Ended
	Jun. 29, 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 June 29, 2019 and September 29, 2018 , the results of operations and shareholders' equity for the three and nine months ended June 29, 2019 and June 30, 2018 , and the cash flows for the same nine 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 fiscal 2019 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 and the standard must be adopted using a modified retrospective approach. The Company plans to adopt the standard in the first quarter of fiscal year 2020 and intends to elect the package of practical expedients offered, which allows entities to not reassess: (i) whether any contracts prior to the adoption date are or contain leases, (ii) lease classification, and (iii) whether capitalized initial direct costs continue to meet the definition of initial direct costs under the new guidance. While the Company is currently evaluating accounting policy elections and assessing overall impacts this standard will on its Consolidated Financial Statements, the new guidance is expected to have a material impact on the Consolidated Balance Sheets upon adoption, primarily due to the recognition of right-of-use assets and operating lease liabilities. 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 plans to adopt the standard in the first quarter of fiscal year 2020. 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)	9 Months Ended
	Jun. 29, 2019
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories as of June 29, 2019 and September 29, 2018 consisted of the following (in thousands): June 29, September 29, Raw materials $ 629,668 $ 579,377 Work-in-process 52,470 102,337 Finished goods 75,068 112,632 Total inventories, net $ 757,206 $ 794,346

Debt, Capital Lease Obligatio_2

Debt, Capital Lease Obligations and Other Financing (Tables)	9 Months Ended
	Jun. 29, 2019
Debt and Capital Lease Obligations [Abstract]
Schedule of Debt and Capital Lease Obligations	Debt and capital lease obligations as of June 29, 2019 and September 29, 2018 , consisted of the following (in thousands): June 29, September 29, 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 133,000 — Capital lease and other financing obligations 45,227 39,857 Unamortized deferred financing fees (1,670 ) (1,240 ) Total obligations 326,557 188,617 Less: current portion (138,976 ) (5,532 ) Long-term debt and capital lease obligations, net of current portion $ 187,581 $ 183,085

Derivatives (Tables)

Derivatives (Tables)	9 Months Ended
	Jun. 29, 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 June 29, September 29, June 29, 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 $ 285 $ 292 Other accrued liabilities $ 21 $ 1,984 Fair Values of Derivative Instruments In thousands of dollars Asset Derivatives Liability Derivatives June 29, September 29, June 29, 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 $ 89 $ 42 Other accrued liabilities $ 400 $ 81
Schedule of Derivative Impact on Accumulated Other Comprehensive Income (Loss)	Derivative Impact on Accumulated Other Comprehensive Income (Loss) ("OCI") for the Nine Months Ended In thousands of dollars Derivatives in Cash Flow Hedging Relationships Amount of Gain Recognized in OCI on Derivatives (Effective Portion) June 29, 2019 June 30, 2018 Foreign currency forward contracts $ 275 $ 3,483 Derivative Impact on Accumulated Other Comprehensive Income (Loss) ("OCI") for the Three Months Ended In thousands of dollars Derivatives in Cash Flow Hedging Relationships Amount of Gain (Loss) Recognized in OCI on Derivatives (Effective Portion) June 29, 2019 June 30, 2018 Foreign currency forward contracts $ (578 ) $ (2,856 )
Schedule of Derivative Impact on Gain (Loss) Recognized in Income (Designated as Hedging Instruments)	Derivative Impact on (Loss) Gain 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) June 29, 2019 June 30, 2018 Foreign currency forward contracts Cost of sales $ (153 ) $ 1,894 Foreign currency forward contracts Selling and administrative expenses $ (19 ) $ 207 Treasury rate locks Interest expense $ — $ 66 Derivative Impact on (Loss) Gain Recognized in Income for the Nine 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) June 29, 2019 June 30, 2018 Foreign currency forward contracts Cost of sales $ (1,507 ) $ 4,976 Foreign currency forward contracts Selling and administrative expenses $ (174 ) $ 536 Treasury Rate Locks Interest expense $ — $ 226
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 June 29, 2019 June 30, 2018 Foreign currency forward contracts Miscellaneous, net $ 1,865 $ (234 ) Derivatives Not Designated as Hedging Instruments Location of Gain Recognized on Derivatives in Income Amount of Gain on Derivatives Recognized in Income June 29, 2019 June 30, 2018 Foreign currency forward contracts Miscellaneous, net $ 235 $ 717
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 June 29, 2019 and September 29, 2018 , by input level: Fair Value Measurements Using Input Levels (Liability)/Asset In thousands of dollars June 29, 2019 Level 1 Level 2 Level 3 Total Derivatives Forward currency forward contracts $ — $ (47 ) $ — $ (47 ) September 29, 2018 Derivatives Forward currency forward contracts $ — $ (1,731 ) $ — $ (1,731 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Jun. 29, 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 nine months ended June 29, 2019 and June 30, 2018 (in thousands, except per share amounts): Three Months Ended Nine Months Ended June 29, June 30, June 29, June 30, Net income (loss) 24,801 26,501 71,785 (59,702 ) Basic weighted average common shares outstanding 29,912 32,796 30,637 33,300 Dilutive effect of share-based awards outstanding 723 855 783 — Diluted weighted average shares outstanding 30,635 33,651 31,420 33,300 Earnings (loss) per share: Basic $ 0.83 $ 0.81 $ 2.34 $ (1.79 ) Diluted $ 0.81 $ 0.79 $ 2.28 $ (1.79 )

Reportable Segments (Tables)

Reportable Segments (Tables)	9 Months Ended
	Jun. 29, 2019
Segment Reporting [Abstract]
Schedule of Reportable Segments Information	Information about the Company’s three reportable segments for the three and nine months ended June 29, 2019 and June 30, 2018 , respectively, is as follows (in thousands): Three Months Ended Nine Months Ended June 29, June 30, June 29, June 30, Net sales: AMER $ 366,466 $ 298,375 $ 1,084,823 $ 899,253 APAC 384,841 383,785 1,141,394 1,080,283 EMEA 81,318 74,331 229,438 212,105 Elimination of inter-segment sales (32,981 ) (30,106 ) (101,416 ) (89,311 ) $ 799,644 $ 726,385 $ 2,354,239 $ 2,102,330 Operating income (loss): AMER $ 14,221 $ 6,799 $ 42,901 $ 28,025 APAC 51,264 55,274 151,779 154,977 EMEA 1,522 1,837 2,385 1,105 Corporate and other costs (32,604 ) (31,464 ) (92,537 ) (102,789 ) $ 34,403 $ 32,446 $ 104,528 $ 81,318 Other income (expense): Interest expense (3,711 ) (2,910 ) (9,105 ) (10,182 ) Interest income 445 1,068 1,410 4,049 Miscellaneous, net (1,419 ) (1,052 ) (4,304 ) (1,875 ) Income before income taxes 29,718 29,552 92,529 73,310 June 29, September 29, Total assets: AMER $ 769,891 $ 645,791 APAC 957,685 937,510 EMEA 211,073 193,797 Corporate and eliminations 77,582 155,544 $ 2,016,231 $ 1,932,642

Guarantees (Tables)

Guarantees (Tables)	9 Months Ended
	Jun. 29, 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 nine months ended June 29, 2019 and June 30, 2018 (in thousands): Nine Months Ended June 29, June 30, Reserve balance, beginning of period $ 6,646 $ 4,756 Accruals for warranties issued during the period 2,930 3,660 Settlements (in cash or in kind) during the period (2,420 ) (2,136 ) Reserve balance, end of period $ 7,156 $ 6,280

Revenue From Contracts with C_2

Revenue From Contracts with Customers (Tables)	9 Months Ended
	Jun. 29, 2019
Revenue from Contract with Customer [Abstract]
Schedule of Impacts of Adoption of New Accounting Pronouncement	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 effects of the adoption on the Company's Condensed Consolidated Financial Statements for the three and nine months ended June 29, 2019 were as follows (in thousands): Three Months Ended June 29, 2019 As Reported Adjustments due to Topic 606 June 29, 2019 As Adjusted - Without Adoption of Topic 606 Net sales $ 799,644 $ 17,728 $ 781,916 Cost of sales 728,614 17,741 710,873 Gross profit 71,030 (13 ) 71,043 Operating income 34,403 (13 ) 34,416 Income before income taxes 29,718 (13 ) 29,731 Income tax expense 4,917 1 4,916 Net income $ 24,801 $ (14 ) $ 24,815 Nine Months Ended June 29, 2019 As Reported Adjustments due to Topic 606 June 29, 2019 As Adjusted - Without Adoption of Topic 606 Net sales $ 2,354,239 $ 29,272 $ 2,324,967 Cost of sales 2,140,190 27,576 2,112,614 Gross profit 214,049 1,696 212,353 Operating income 104,528 1,696 102,832 Income before income taxes 92,529 1,696 90,833 Income tax expense 20,744 419 20,325 Net income $ 71,785 $ 1,277 $ 70,508 June 29, 2019 As Reported Adjustments due to Topic 606 June 29, 2019 As Adjusted - Without Adoption of Topic 606 ASSETS Contract assets $ 105,201 $ 105,201 $ — Inventories 757,206 (96,534 ) 853,740 LIABILITIES AND SHAREHOLDERS' EQUITY Other accrued liabilities $ 107,432 $ (425 ) $ 107,857 Retained earnings 1,141,846 9,092 1,132,754
Schedule of Disaggregation of Revenue	The tables below include the Company’s revenue for the three and nine months ended June 29, 2019 , disaggregated by geographic reportable segment and market sector (in thousands): Three Months Ended June 29, 2019 Reportable Segment: AMER APAC EMEA Total Market Sector: Healthcare/Life Sciences $ 127,644 $ 149,312 $ 31,801 $ 308,757 Industrial/Commercial 91,347 133,374 23,174 247,895 Aerospace/Defense 80,351 47,496 23,580 151,427 Communications 64,799 26,279 487 91,565 External revenue $ 364,141 $ 356,461 $ 79,042 $ 799,644 Inter-segment sales 2,325 28,380 2,276 32,981 Segment revenue $ 366,466 $ 384,841 $ 81,318 $ 832,625 Nine Months Ended June 29, 2019 Reportable Segment: AMER APAC EMEA Total Market Sector: Healthcare/Life Sciences $ 368,843 $ 443,073 $ 97,055 $ 908,971 Industrial/Commercial 269,273 381,453 66,547 717,273 Aerospace/Defense 218,578 137,342 58,482 414,402 Communications 222,944 87,238 3,411 313,593 External revenue $ 1,079,638 $ 1,049,106 $ 225,495 $ 2,354,239 Inter-segment sales 5,185 92,288 3,943 101,416 Segment revenue $ 1,084,823 $ 1,141,394 $ 229,438 $ 2,455,655
Schedule of Contract Assets	The following table summarizes the activity in the Company's contract assets during the nine months ended June 29, 2019 (in thousands): Contract Assets Beginning balance, September 29, 2018 $ — Cumulative effect adjustment at September 29, 2018 76,417 Revenue recognized 2,126,379 Amounts collected or invoiced (2,097,595 ) Ending balance, June 29, 2019 $ 105,201

Basis of Presentation Narrative

Basis of Presentation Narrative (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Sep. 30, 2018	Sep. 29, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings	$ 1,141,846	$ 1,070,061	$ 1,062,246
ASU 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings	$ 9,092
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	Jun. 29, 2019	Sep. 30, 2018	Sep. 29, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 629,668		$ 579,377
Work-in-process	52,470		102,337
Finished goods	75,068		112,632
Total inventories, net	$ 757,206	$ 725,387	$ 794,346

Inventories - Narrative (Detai

Inventories - Narrative (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Sep. 29, 2018
Inventory [Line Items]
Customer deposits	$ 130,626	$ 90,782
Inventory
Inventory [Line Items]
Customer deposits	$ 128,800	$ 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	Jun. 29, 2019	Sep. 29, 2018
Debt Instrument [Line Items]
Long-term debt, gross	$ 283,000	$ 150,000
Capital lease and other financing obligations	45,227	39,857
Unamortized deferred financing fees	(1,670)	(1,240)
Total obligations	326,557	188,617
Less: current portion	(138,976)	(5,532)
Long-term debt and capital lease obligations, net of current portion	187,581	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	$ 133,000	$ 0

Debt, Capital Lease Obligatio_4

Debt, Capital Lease Obligations and Other Financing - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	May 14, 2019	Sep. 29, 2018
Debt Instrument [Line Items]
Amount of debt outstanding	$ 283,000			$ 150,000
Amount borrowed	884,500	$ 673,052
Debt, Fair Value	287,600			151,900
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum commitment	350,000		$ 300,000
Amount credit facility may be further increased	600,000
Highest daily borrowings	235,500
Average daily borrowings	$ 124,600
Annual commitment fee	0.125%
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	$ 133,000			$ 0
Amount borrowed	884,500
Amount repaid	$ 751,500

Derivatives - Schedule of Fair

Derivatives - Schedule of Fair Values of Derivative Instruments (Details) - Foreign currency forward contracts - USD ($) $ in Thousands	Jun. 29, 2019	Sep. 29, 2018
Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 300	$ 100
Prepaid expenses and other | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Asset Derivatives	285	292
Prepaid expenses and other | Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Asset Derivatives	89	42
Other accrued liabilities | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Liability Derivatives	21	1,984
Other accrued liabilities | Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 400	$ 81

Derivatives - Schedule of Deri

Derivatives - Schedule of Derivative Impact on Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 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 (Loss) Recognized in OCI on Derivatives (Effective Portion)	$ (578)	$ (2,856)	$ 275	$ 3,483

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		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
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)	$ (153)	$ 1,894	$ (1,507)	$ 4,976
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)	(19)	207	(174)	536
Treasury rate locks | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (Loss) Gain Reclassified from Accumulated OCI into Income (Effective Portion)	$ 0	$ 66	$ 0	$ 226

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		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 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	$ 235	$ 717	$ 1,865	$ (234)

Derivatives - Schedule of De_3

Derivatives - Schedule of Derivatives Fair Value Measurements Using Input Levels (Details) - Recurring - Foreign currency forward contracts - USD ($) $ in Thousands	Jun. 29, 2019	Sep. 29, 2018
Derivative liability	$ 47	$ 1,731
Level 1
Derivative asset	0	0
Level 2
Derivative liability	47	1,731
Level 3
Derivative asset	$ 0	$ 0

Derivatives - Narrative (Detai

Derivatives - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018	Sep. 29, 2018
Estimated unrealized gains (losses), net of tax, expected to be reclassified in next 12 months			$ 300,000
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	78,300,000		78,300,000		$ 74,000,000
Fair value of derivative asset	300,000		300,000
Fair value of derivative liability					1,700,000
Derivatives Not Designated as Hedging Instruments | Foreign currency forward contracts
Notional amount of forward exchange contracts	33,800,000		33,800,000		28,600,000
Fair value of derivative liability	$ 300,000		$ 300,000		$ 100,000

Income Taxes - Narrative (Deta

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income tax expense	$ 4,917	$ 3,051	$ 20,744	$ 133,012
Effective income tax rate	16.50%	10.30%	22.40%	181.40%
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		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Net income (loss)	$ 24,801	$ 26,501	$ 71,785	$ (59,702)
Basic weighted average common shares outstanding (in shares)	29,912	32,796	30,637	33,300
Dilutive effect of share-based awards outstanding (in shares)	723	855	783	0
Diluted weighted average shares outstanding (in shares)	30,635	33,651	31,420	33,300
Earnings (loss) per share:
Basic (in dollars per share)	$ 0.83	$ 0.81	$ 2.34	$ (1.79)
Diluted (in dollars per share)	$ 0.81	$ 0.79	$ 2.28	$ (1.79)

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Diluted Earnings Per Share				0.9
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	0.1	0.1

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Expense	$ 5.4	$ 4.8	$ 15.4	$ 13.2
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		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018	Sep. 29, 2018
Net sales	$ 799,644	$ 726,385	$ 2,354,239	$ 2,102,330
Operating income (loss):	34,403	32,446	104,528	81,318
Interest expense	(3,711)	(2,910)	(9,105)	(10,182)
Interest income	445	1,068	1,410	4,049
Miscellaneous, net	(1,419)	(1,052)	(4,304)	(1,875)
Income before income taxes	29,718	29,552	92,529	73,310
Total assets	2,016,231		2,016,231		$ 1,932,642
Elimination of inter-segment sales
Net sales	(32,981)	(30,106)	(101,416)	(89,311)
Corporate
Operating income (loss):	(32,604)	(31,464)	(92,537)	(102,789)
Corporate and eliminations
Total assets	77,582		77,582		155,544
AMER | Operating Segments
Net sales	366,466	298,375	1,084,823	899,253
Operating income (loss):	14,221	6,799	42,901	28,025
Total assets	769,891		769,891		645,791
APAC | Operating Segments
Net sales	384,841	383,785	1,141,394	1,080,283
Operating income (loss):	51,264	55,274	151,779	154,977
Total assets	957,685		957,685		937,510
EMEA | Operating Segments
Net sales	81,318	74,331	229,438	212,105
Operating income (loss):	1,522	$ 1,837	2,385	$ 1,105
Total assets	$ 211,073		$ 211,073		$ 193,797

Reportable Segments - Narrativ

Reportable Segments - Narrative (Details)	9 Months Ended
	Jun. 29, 2019segment
Segment Reporting [Abstract]
Number of reportable segments	3

Guarantees - Narrative (Details

Guarantees - Narrative (Details)	9 Months Ended
	Jun. 29, 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	9 Months Ended
	Jun. 29, 2019	Jun. 30, 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	2,930	3,660
Settlements (in cash or in kind) during the period	(2,420)	(2,136)
Limited warranty liability, ending balance	$ 7,156	$ 6,280

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 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)	784,493		2,646,125
Amount repurchased	$ 44.4		$ 150.7
Average repurchase price (in dollars per share)	$ 56.61		$ 56.95
Remaining authorized repurchase amount	$ 28.1		$ 28.1
2016 Stock Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Authorized repurchase amount						$ 150
Amount repurchased (in shares)		947,685		1,619,094
Amount repurchased		$ 56.7		$ 97.8
Average repurchase price (in dollars per share)		$ 59.81		$ 60.43

Trade Accounts Receivable Sal_2

Trade Accounts Receivable Sale Programs - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018	Jun. 21, 2019
Amount Received From Trade Accounts Receivable Sold To Third Party [Line Items]
Trade accounts receivables sold	$ 223.6	$ 199.1	$ 698	$ 497.4
Cash proceeds received from trade accounts receivable sold	222.1	$ 197.8	693.7	$ 494.4
MUFG RPA
Amount Received From Trade Accounts Receivable Sold To Third Party [Line Items]
Maximum facility amount	280		$ 280		$ 260
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		$ 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		9 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018	Sep. 30, 2018	Sep. 29, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contract assets	$ 105,201		$ 105,201		$ 76,417	$ 0
Inventories, net	757,206		757,206		725,387	794,346
Other accrued liabilities	107,432		107,432		67,806	68,163
Retained earnings	1,141,846		1,141,846		1,070,061	$ 1,062,246
Net sales	799,644	$ 726,385	2,354,239	$ 2,102,330
Cost of sales	728,614	658,564	2,140,190	1,918,034
Gross profit	71,030	67,821	214,049	184,296
Operating income	34,403	32,446	104,528	81,318
Income before income taxes	29,718	29,552	92,529	73,310
Income tax expense	4,917	3,051	20,744	133,012
Net income (loss)	24,801	$ 26,501	71,785	$ (59,702)
ASU 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contract assets	105,201		105,201
Inventories, net	(96,534)		(96,534)
Other accrued liabilities	(425)		(425)
Retained earnings	9,092		9,092
Net sales	17,728		29,272
Cost of sales	17,741		27,576
Gross profit	(13)		1,696
Operating income	(13)		1,696
Income before income taxes	(13)		1,696
Income tax expense	1		419
Net income (loss)	(14)		1,277
Balance without the adoption of ASU 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contract assets	0		0
Inventories, net	853,740		853,740
Other accrued liabilities	107,857		107,857
Retained earnings	1,132,754		1,132,754
Net sales	781,916		2,324,967
Cost of sales	710,873		2,112,614
Gross profit	71,043		212,353
Operating income	34,416		102,832
Income before income taxes	29,731		90,833
Income tax expense	4,916		20,325
Net income (loss)	$ 24,815		$ 70,508
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	9 Months Ended
	Jun. 29, 2019	Jun. 29, 2019
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	$ 832,625	$ 2,455,655
Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	799,644	2,354,239
Elimination of inter-segment sales
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	32,981	101,416
Healthcare/Life Sciences | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	308,757	908,971
Industrial/Commercial | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	247,895	717,273
Aerospace/Defense | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	151,427	414,402
Communications | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	91,565	313,593
AMER
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	366,466	1,084,823
AMER | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	364,141	1,079,638
AMER | Elimination of inter-segment sales
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	2,325	5,185
AMER | Healthcare/Life Sciences | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	127,644	368,843
AMER | Industrial/Commercial | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	91,347	269,273
AMER | Aerospace/Defense | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	80,351	218,578
AMER | Communications | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	64,799	222,944
APAC
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	384,841	1,141,394
APAC | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	356,461	1,049,106
APAC | Elimination of inter-segment sales
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	28,380	92,288
APAC | Healthcare/Life Sciences | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	149,312	443,073
APAC | Industrial/Commercial | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	133,374	381,453
APAC | Aerospace/Defense | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	47,496	137,342
APAC | Communications | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	26,279	87,238
EMEA
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	81,318	229,438
EMEA | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	79,042	225,495
EMEA | Elimination of inter-segment sales
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	2,276	3,943
EMEA | Healthcare/Life Sciences | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	31,801	97,055
EMEA | Industrial/Commercial | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	23,174	66,547
EMEA | Aerospace/Defense | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	23,580	58,482
EMEA | Communications | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	$ 487	$ 3,411

Revenue From Contracts with C_5

Revenue From Contracts with Customers - Schedule of Contract Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 29, 2019	Sep. 30, 2018	Sep. 29, 2018
Change in Contract with Customer Assets [Line Items]
Contract assets	$ 105,201	$ 76,417	$ 0
Revenue recognized	2,126,379
Amounts collected or invoiced	(2,097,595)
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	$ 105,201
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	9 Months Ended
	Jun. 29, 2019	Jun. 29, 2019	Sep. 30, 2018	Sep. 29, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings	$ 1,141,846	$ 1,141,846	$ 1,070,061	$ 1,062,246
Contract assets	105,201	105,201	76,417	0
Inventories, net	$ 757,206	$ 757,206	725,387	$ 794,346
Transferred over Time [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Percentage of Revenue	92.00%	90.00%
ASU 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings	$ 9,092	$ 9,092
Contract assets	105,201	105,201
Inventories, net	$ (96,534)	$ (96,534)
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	9 Months Ended		12 Months Ended
	Dec. 29, 2018	Jun. 29, 2019	Jun. 30, 2018	Sep. 29, 2018
Acquisition [Abstract]
Payments to Acquire Businesses, Net of Cash Acquired				$ 12,400
Business acquisition	$ 1,200	$ 1,180	$ 0