Plexus (PLXS) 10-Q 7 Aug 20 2020 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Jul. 04, 2020	Aug. 04, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 4, 2020
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		29,245,563
Entity Central Index Key	0000785786
Current Fiscal Year End Date	--10-03
Document Fiscal Year Focus	2020
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
	Jul. 04, 2020	Jun. 29, 2019	Jul. 04, 2020	Jun. 29, 2019
Income Statement [Abstract]
Net sales	$ 857,394	$ 799,644	$ 2,477,167	$ 2,354,239
Cost of sales	774,513	728,614	2,253,651	2,140,190
Gross profit	82,881	71,030	223,516	214,049
Selling and administrative expenses	37,028	36,627	114,517	109,521
Restructuring and impairment charges	0	0	6,003	0
Operating income	45,853	34,403	102,996	104,528
Other income (expense):
Interest expense	(3,988)	(3,711)	(11,934)	(9,105)
Interest income	368	445	1,546	1,410
Miscellaneous, net	(600)	(1,419)	(2,619)	(4,304)
Income before income taxes	41,633	29,718	89,989	92,529
Income tax expense	5,791	4,917	10,215	20,744
Net income	$ 35,842	$ 24,801	$ 79,774	$ 71,785
Earnings per share:
Basic (in dollars per share)	$ 1.23	$ 0.83	$ 2.73	$ 2.34
Diluted (in dollars per share)	$ 1.20	$ 0.81	$ 2.66	$ 2.28
Weighted average shares outstanding:
Basic (in shares)	29,199	29,912	29,210	30,637
Diluted (in shares)	29,793	30,635	29,936	31,420
Other comprehensive income (loss):
Derivative instrument fair value adjustment	$ 3,178	$ (406)	$ (1,138)	$ 1,956
Foreign currency translation adjustments	5,586	(679)	3,463	(2,035)
Other comprehensive income (loss):	8,764	(1,085)	2,325	(79)
Total comprehensive income	$ 44,606	$ 23,716	$ 82,099	$ 71,706

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 04, 2020	Sep. 28, 2019
Current assets:
Cash and cash equivalents	$ 296,545	$ 223,761
Restricted cash	3,098	2,493
Accounts receivable, net of allowances of $4,387 and $1,537, respectively	519,323	488,284
Contract assets	116,442	90,841
Inventories, net	819,543	700,938
Prepaid expenses and other	32,836	31,974
Total current assets	1,787,787	1,538,291
Property, plant and equipment, net	380,056	384,224
Operating lease right-of-use assets	71,885	0
Deferred income taxes	14,089	13,654
Other assets	34,707	64,714
Total non-current assets	500,737	462,592
Total assets	2,288,524	2,000,883
Current liabilities:
Current portion of long-term debt and finance lease obligations	145,993	100,702
Accounts payable	553,254	444,944
Customer deposits	173,027	139,841
Accrued salaries and wages	60,056	73,555
Other accrued liabilities	105,290	106,461
Total current liabilities	1,037,620	865,503
Long-term debt and finance lease obligations, net of current portion	188,626	187,278
Long-term accrued income taxes payable	53,899	59,572
Long-term operating lease liabilities	38,077	0
Deferred income taxes payable	6,394	5,305
Other liabilities	19,087	17,649
Total non-current liabilities	306,083	269,804
Total liabilities	1,343,703	1,135,307
Commitments and contingencies
Shareholders’ equity:
Preferred stock, $0.01 par value, 5,000 shares authorized, none issued or outstanding	0	0
Common stock, $0.01 par value, 200,000 shares authorized, 53,442 and 52,917 shares issued, respectively, and 29,214 and 29,004 shares outstanding, respectively	534	529
Additional paid-in capital	615,103	597,401
Common stock held in treasury, at cost, 24,228 and 23,913 shares, respectively	(912,731)	(893,247)
Retained earnings	1,257,374	1,178,677
Accumulated other comprehensive loss	(15,459)	(17,784)
Total shareholders’ equity	944,821	865,576
Total liabilities and shareholders’ equity	$ 2,288,524	$ 2,000,883

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jul. 04, 2020	Sep. 28, 2019
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 4,387	$ 1,537
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)	53,442,000	52,917,000
Common stock, shares outstanding (in shares)	29,214,000	29,004,000
Treasury stock, shares (in shares)	24,228,000	23,913,000

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
Cumulative effect adjustment for adoption of new accounting pronouncement	[1]					$ 7,815
Beginning of period (in shares) at Sep. 29, 2018			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
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
Stock-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		71,785				71,785
Other comprehensive (loss) income		(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
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
Stock-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		24,801				24,801
Other comprehensive (loss) income		(1,085)					(1,085)
End of period at Jun. 29, 2019		$ 860,791	$ 529	592,316	(861,842)	1,141,846	(12,058)
Cumulative effect adjustment for adoption of new accounting pronouncement	[1]					(1,077)
Beginning of period (in shares) at Sep. 28, 2019		29,004,000	29,004,000
Exercise of stock options and vesting of other stock awards (in shares)			526,000
Treasury shares purchased (in shares)			(316,000)
End of period (in shares) at Jul. 04, 2020		29,214,000	29,214,000
Beginning of period at Sep. 28, 2019		$ 865,576	$ 529	597,401	(893,247)	1,178,677	(17,784)
Exercise of stock options and vesting of other stock awards			5
Stock-based compensation expense				17,367
Exercise of stock options and vesting of other stock awards, including tax benefits				335
Treasury shares purchased					(19,484)
Net income		79,774				79,774
Other comprehensive (loss) income		2,325					2,325
End of period at Jul. 04, 2020		$ 944,821	$ 534	615,103	(912,731)	1,257,374	(15,459)
Beginning of period (in shares) at Apr. 04, 2020			29,186,000
Exercise of stock options and vesting of other stock awards (in shares)			28,000
Treasury shares purchased (in shares)			0
End of period (in shares) at Jul. 04, 2020		29,214,000	29,214,000
Beginning of period at Apr. 04, 2020		$ 892,558	$ 534	607,446	(912,731)	1,221,532	(24,223)
Exercise of stock options and vesting of other stock awards			0
Stock-based compensation expense				6,542
Exercise of stock options and vesting of other stock awards, including tax benefits				1,115
Treasury shares purchased					0
Net income		35,842				35,842
Other comprehensive (loss) income		8,764					8,764
End of period at Jul. 04, 2020		$ 944,821	$ 534	$ 615,103	$ (912,731)	$ 1,257,374	$ (15,459)
[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
	Jul. 04, 2020	Jun. 29, 2019
Cash flows from operating activities
Net income	$ 79,774	$ 71,785
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	42,216	38,795
Deferred income taxes	2,560	2,448
Share-based compensation expense	17,367	15,355
Provision for allowance for doubtful accounts	3,155	0
Asset impairment charges	3,054	0
Other, net	491	148
Changes in operating assets and liabilities, excluding impacts of acquisition:
Accounts receivable	(32,299)	(65,324)
Contract assets	(25,224)	(28,692)
Inventories	(116,810)	(33,756)
Other current and noncurrent assets	1,758	(3,537)
Accrued income taxes payable	(15,202)	(1,648)
Accounts payable	111,634	(72,014)
Customer deposits	32,962	39,979
Other current and noncurrent liabilities	(12,917)	43,493
Cash flows provided by operating activities	92,519	7,032
Cash flows from investing activities
Payments for property, plant and equipment	(41,223)	(74,602)
Proceeds from sales of property, plant and equipment	886	160
Business acquisition	0	1,180
Other, net	(200)	0
Cash flows used in investing activities	(40,537)	(73,262)
Cash flows from financing activities
Borrowings under debt agreements	595,240	884,500
Payments on debt and finance lease obligations	(554,077)	(754,743)
Debt issuance costs	(699)	(688)
Repurchases of common stock	(19,484)	(150,704)
Proceeds from exercise of stock options	10,965	2,023
Payments related to tax withholding for share-based compensation	(10,625)	(6,547)
Cash flows provided by (used in) financing activities	21,320	(26,159)
Effect of exchange rate changes on cash and cash equivalents	87	102
Net increase (decrease) in cash and cash equivalents and restricted cash	73,389	(92,287)
Cash and cash equivalents and restricted cash:
Beginning of period	226,254	297,686
End of period	$ 299,643	$ 205,399

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jul. 04, 2020
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 July 4, 2020 and September 28, 2019, the results of operations and shareholders' equity for the three and nine months ended July 4, 2020 and June 29, 2019, 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. Fiscal 2020 includes 53 weeks; therefore, the first quarter of fiscal 2020 included 14 weeks while all other 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 2019 Annual Report on Form 10-K. The preparation of financial statements requires management to make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and notes thereto. The full extent to which the COVID-19 outbreak will impact the Company's business and operating results will depend on future developments that are highly uncertain and cannot be accurately predicted. The Company has considered information available as of the date of issuance of these financial statements and is not aware of any specific events or circumstances that would require an update to its estimates or judgments, or a revision of the carrying value of its assets or liabilities. These estimates may change as new events occur and additional information becomes available. Actual results could differ materially from these estimates. Recently Adopted Accounting Pronouncements: 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"). 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. In February 2016, the FASB issued ASU 2016-02 (“Topic 842”), which is intended to improve financial reporting of lease transactions by requiring lessees to recognize most leases as a right-of-use (“ROU”) asset and lease liability on their balance sheets for the rights and obligations created by leases, but record expenses on their income statements in a similar manner. For lessors, the guidance modifies the classification criteria and the accounting for sales-type and direct financing leases. ASU 2016-02 also requires disclosures regarding the amount, timing and judgments related to accounting for an entity’s leases and related cash flows. On September 29, 2019, the Company adopted Topic 842 using the modified retrospective method of adoption, which allows financial information for comparative periods prior to adoption not to be updated. The Company recognized right-of-use assets and operating lease liabilities on its Consolidated Balance Sheets, but the standard did not have a material impact on its Consolidated Statements of Comprehensive Income or Consolidated Statements of Cash Flows. ASC 842 provides optional practical expedients to assist with transition to the new standard. Management elected 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. For all new and modified leases after adoption, management elected the short-term lease recognition exemption for all of the Company’s leases that qualify, in addition to the practical expedient to not separate lease and nonlease components. Refer to Note 7, "Leases," for further information. 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 Company adopted this guidance during the first quarter of fiscal 2020 with no material impact to the Company's Consolidated Financial Statements; however, the impact of the new standard on future periods will depend on the facts and circumstances of future transactions. Recently Issued Accounting Pronouncements Not Yet Adopted: In June 2016, the FASB issued ASU 2016-13, which replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and required consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This guidance is effective for the Company beginning in the first quarter of fiscal year 2021. Early adoption is permitted. The Company plans to adopt this methodology the first quarter of fiscal 2021 and does not expect a material impact on its Consolidated Financial Statements. In March 2020, the FASB issued ASU 2020-04, which provides guidance in accounting for contracts, hedging relationships, and other transactions that are affected by reference rate reform. The amendments in this update are elective and were effective immediately upon issuance. The Company is currently in the process of assessing the impacts of reference rate reform but does not expect this standard to have a material impact on its Consolidated Financial Statements. 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
	Jul. 04, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories as of July 4, 2020 and September 28, 2019 consisted of the following (in thousands): July 4, September 28, Raw materials $ 686,130 $ 577,545 Work-in-process 61,161 49,315 Finished goods 72,252 74,078 Total inventories, net $ 819,543 $ 700,938 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 July 4, 2020 and September 28, 2019 w as $166.9 million

Debt, Finance Lease Obligations

Debt, Finance Lease Obligations and Other Financing	9 Months Ended
	Jul. 04, 2020
Debt Disclosure [Abstract]
Debt, Finance Lease Obligations and Other Financing	Debt, Finance Lease Obligations and Other Financing Debt, finance lease obligations and other financing as of July 4, 2020 and September 28, 2019 consisted of the following (in thousands): July 4, September 28, 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 revolving commitment — 95,000 Term Loans, due April 28, 2021 138,000 — Finance lease and other financing obligations 48,497 44,492 Unamortized deferred financing fees (1,878) (1,512) Total obligations 334,619 287,980 Less: current portion (145,993) (100,702) Long-term debt and finance lease obligations, net of current portion $ 188,626 $ 187,278 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. As of July 4, 2020, 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 by entering into a new 5-year senior unsecured revolving credit facility (referred to as the "Credit Facility"), which expanded the maximum commitment from $300.0 million to $350.0 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 $600.0 million, generally by mutual agreement of the Company and the lenders, subject to certain customary conditions. The increase of the maximum facility is not able to be exercised until after the effective date of the 364 day delayed draw term loans ("Term Loans") on April 28, 2021, as outlined in Amendment No. 1 to the Credit Agreement (the "Amendment") subsequently discussed. During the nine months ended July 4, 2020, the highest daily borrowing was $164.5 million; the average daily borrowings were $97.1 million. The Company borrowed $455.7 million and repaid $550.7 million of revolving borrowings ("Revolving Commitment") under the Credit Facility during the nine months ended July 4, 2020. As of July 4, 2020, the Company was in compliance with all financial covenants relating to the Credit Facility, which are generally consistent with those in the 2018 NPA previously discussed. 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 July 4, 2020. To further ensure our ability to meet our working capital and fixed capital requirements, on April 29, 2020, the Company entered into the Amendment in response to the COVID-19 outbreak, which amends the Credit Agreement, dated as of May 15, 2019. The Amendment amends certain provisions of the Credit Facility to, among other things, provide for a $138.0 million unsecured delayed draw term loans facility. Term loans borrowed under the new facility were funded in a single draw on May 4, 2020 and will mature on April 28, 2021. Outstanding term loans will bear interest, at the Company’s option, at a eurocurrency rate plus a margin of 1.75% per annum or at a base rate plus a margin of 0.75% per annum. In addition, the Company is required to pay, on a quarterly basis, a ticking fee at a rate equal to 0.75% per annum on the average daily aggregate unused term loan commitments from the effective date of the Amendment to and including the date all of the term loan commitments are terminated in accordance with the terms of the Credit Facility. The proceeds of the term loans were used to prepay outstanding revolving and swing line loans under the Credit Facility and for the general corporate purposes of the Company and its subsidiaries. The $138.0 million of outstanding term loans as of July 4, 2020 was subject to a 2.75% per annum interest rate. The fair value of the Company’s debt, excluding finance leases, was $298.3 million and $252.3 million as of July 4, 2020 and September 28, 2019, respectively. The carrying value of the Company's debt, excluding finance leases and other financing obligations, was $288.0 million and $245.0 million as of July 4, 2020 and September 28, 2019, 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
	Jul. 04, 2020
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. The Company designates some foreign currency exchange contracts as cash flow hedges of forecasted foreign currency expenses. 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 th at $1.8 million of unreali zed gains, n et of tax, related to cash flow hedges will be reclassified from other comprehensive loss into earnings. Changes in the fair value of the non-designated derivatives related to recognized foreign currency denominated assets and liabilities are recorded in "Miscellaneous, net" in the accompanying Condensed Consolidated Statements of Comprehensive Income. 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 o f $79.2 million as of July 4, 2020, and $80.0 million as of September 28, 2019. These forward currency contracts fix the exchange rates for the settlement of fu ture foreign currency obligations that have yet to be realized. The total fair value of the forward currency exchange contracts was a $1.8 million asset as of July 4, 2020, and a $0.6 million liability as of September 28, 2019. The Company had additional forward currency exchange contracts outstanding as of July 4, 2020, with a notional value of $18.8 million; there were $34.4 million such contracts outstanding as of September 28, 2019. 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." The total fair value of these derivatives wa s a $0.2 million asset a s of July 4, 2020, and a $0.9 million asset as of September 28, 2019. 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) Derivative Assets Derivative Liabilities July 4, September 28, July 4, September 28, Derivatives designated as hedging instruments Balance sheet Fair Value Fair Value Balance sheet Fair Value Fair Value Foreign currency forward contracts Prepaid expenses and other $ 1,955 $ 156 Other accrued liabilities $ 175 $ 798 Fair Values of Derivative Instruments (in thousands) Derivative Assets Derivative Liabilities July 4, September 28, July 4, September 28, Derivatives not designated as hedging instruments Balance sheet Fair Value Fair Value Balance sheet Fair Value Fair Value Foreign currency forward contracts Prepaid expenses and other $ 297 $ 912 Other accrued liabilities $ 141 $ 54 The Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Loss ("OCL") (in thousands) for the Three Months Ended Derivatives in cash flow hedging relationships Amount of Gain (Loss) Recognized in OCL on Derivatives July 4, 2020 June 29, 2019 Foreign currency forward contracts $ 1,990 $ (578) Derivative Impact on (Loss) Gain Recognized in Condensed Consolidated Statements of Comprehensive Income (in thousands) for the Three Months Ended Derivatives in cash flow hedging relationships Classification of Loss Reclassified from Accumulated OCL into Income Amount of Loss Reclassified from Accumulated OCL into Income July 4, 2020 June 29, 2019 Foreign currency forward contracts Cost of sales $ (1,102) $ (153) Foreign currency forward contracts Selling and administrative expenses (86) (19) Derivatives not designated as hedging instruments Location of Gain Recognized on Derivatives in Income Amount of Gain on Derivatives Recognized in Income July 4, 2020 June 29, 2019 Foreign currency forward contracts Miscellaneous, net $ 166 $ 235 The Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Loss (in thousands) for the Nine Months Ended Derivatives in cash flow hedging relationships Amount of (Loss) Gain Recognized in OCL on Derivatives July 4, 2020 June 29, 2019 Foreign currency forward contracts $ (2,150) $ 275 Derivative Impact on (Loss) Gain Recognized in Condensed Consolidated Statements of Comprehensive Income (in thousands) for the Nine Months Ended Derivatives in cash flow hedging relationships Classification of Loss Reclassified from Accumulated OCL into Income Amount of Loss Reclassified from Accumulated OCL into Income July 4, 2020 June 29, 2019 Foreign currency forward contracts Cost of sales $ (925) $ (1,507) Foreign currency forward contracts Selling and administrative expenses (87) (174) Derivatives not designated as hedging instruments Location of (Loss) Gain Recognized on Derivatives in Income Amount of (Loss) Gain on Derivatives Recognized in Income July 4, 2020 June 29, 2019 Foreign currency forward contracts Miscellaneous, net $ (467) $ 1,865 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 July 4, 2020 and September 28, 2019, by input level: Fair Value Measurements Using Input Levels Asset (in thousands) July 4, 2020 Level 1 Level 2 Level 3 Total Derivatives Foreign currency forward contracts $ — $ 1,936 $ — $ 1,936 September 28, 2019 Derivatives Foreign currency forward contracts $ — $ 216 $ — $ 216 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
	Jul. 04, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense for the three and nine months ended July 4, 2020 was $5.8 million and $10.2 million, respectively, compared to $4.9 million and $20.7 million for the three and nine months ended June 29, 2019, respectively. The effective tax rate for the three and nine months ended July 4, 2020 was 13.9% and 11.4%, respectively, compared to the effective tax rates of 16.5% and 22.4% for the three and nine months ended June 29, 2019, respectively. The effective tax rate for the three months ended July 4, 2020 decreased from the effective tax rate for the three months ended June 29, 2019, primarily due to the geographic distribution of pre-tax book income as well as a $0.8 million tax benefit related to the lapse of a statute of limitations for uncertain tax positions recorded during the three months ended July 4, 2020. The effective tax rate for the nine months ended July 4, 2020 decreased from the effective tax rate for the nine months ended June 29, 2019, primarily due to the additional impact of the U.S. Tax Cuts & Jobs Act of $7.0 million recorded during the nine months ended June 29, 2019. The decrease was also due to the geographic distribution of pre-tax book income, an $0.8 million tax benefit related to the lapse of a statute of limitations for uncertain tax positions, an $0.8 million benefit for special tax items and a $0.6 million tax benefit related to restructuring during the nine months ended July 4, 2020. The $0.8 million benefit for special tax items for the nine months ended July 4, 2020 was comprised of a $1.9 million benefit related to guidance issued by the U.S. Department of the Treasury regarding foreign tax credits partially offset by $1.1 million of special tax items. The Coronavirus Aid, Relief, and Economic Security Act was signed into law on March 27, 2020. The Company does not expect a material impact from the law. There were no material additions to the amount of unrecognized tax benefits recorded for uncertain tax positions as of July 4, 2020. 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 July 4, 2020 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. The Company is under audit in various foreign jurisdictions but settlement is not expected to have a material impact. 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 July 4, 2020, the Company continued to record a full valuation allowance against its net deferred tax assets in certain jurisdictions within the EMEA segment and a valuation allowance against certain U.S. state net deferred tax assets, 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
	Jul. 04, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following is a reconciliation of the amounts utilized in the computation of basic and diluted earnings per share for the three and nine months ended July 4, 2020 and June 29, 2019 (in thousands, except per share amounts): Three Months Ended Nine Months Ended July 4, June 29, July 4, June 29, Net income $ 35,842 $ 24,801 $ 79,774 $ 71,785 Basic weighted average common shares outstanding 29,199 29,912 29,210 30,637 Dilutive effect of share-based awards and options outstanding 594 723 726 783 Diluted weighted average shares outstanding 29,793 30,635 29,936 31,420 Earnings per share: Basic $ 1.23 $ 0.83 $ 2.73 $ 2.34 Diluted $ 1.20 $ 0.81 $ 2.66 $ 2.28 For the three and nine months ended July 4, 2020, share-based awards for approximately 0.3 million and 0.1 million shares were not included in the computation of diluted earnings per share as they were antidilutive. 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. See also Note 12, "Shareholders' Equity," for information regarding the Company's share repurchase plans.

Leases

Leases	9 Months Ended
	Jul. 04, 2020
Leases [Abstract]
Leases	Leases The Company’s lease portfolio includes both real estate and non-real estate type leases which are accounted for as either finance or operating leases. Real estate leases generally include office, warehouse and manufacturing facilities and non-real estate leases generally include office equipment and vehicles. The Company determines if a contract is or contains a lease at inception. The Company’s leases have remaining lease terms of less than 1 year to 40 years. Renewal options that are deemed reasonably certain are included as part of the lease term for purposes of calculating the right-of-use (“ROU”) assets and lease liability. Variable lease payments are generally expensed as incurred and include certain index-based changes in rent, certain nonlease components, such as maintenance and other services provided by the lessor, and other charges included in the lease. The Company elected the practical expedient to not separate lease and nonlease components, as such nonlease components are included in the calculation of the ROU asset and lease liability and included in the lease expense over the term of the lease. The Company uses a discount rate to calculate the ROU asset and lease liability. When the implicit rate is known or provided in the lease documents, the Company is required to use this rate. In cases in which the implicit rate is not known, the Company uses an estimated incremental borrowing rate. Operating lease ROU assets and lease liabilities are recorded on the date the Company takes possession of the leased assets with expense recognized on a straight-line basis over the lease term. Leases with an estimated total term of 12 months or less are not recorded on the balance sheet and the lease expense is recognized on a straight-line basis over the lease term. Generally, the Company's lease agreements do not contain material residual value guarantees or material restrictive covenants. Upon adoption of ASU 2016-02, the Company recorded $45.5 million of right-of-use assets and lease liabilities, related to its existing operating lease portfolio. The Company also reclassified amounts previously held on the balance sheet to operating right-of-use assets and operating lease liabilities upon adoption due to existing arrangements subject to the new standard, including $30.2 million of prepaid leases in other non-current assets. The accounting for the Company’s finance leases remained substantially unchanged. In addition, the company recognized a $1.1 million reduction to retained earnings as a result of two existing build-to-suit arrangements for the facilities in Guadalajara, Mexico that were reassessed to be finance leases under the new standard. The adoption of this new standard did not have a material impact on the Condensed Consolidated Statements of Cash Flows or Condensed Consolidated Statements of Comprehensive Income. As a result of the adoption, the following adjustments were made to the opening balances of the Company's Condensed Consolidated Balance Sheets (in thousands): September 28, 2019 Impacts due to adoption of Topic 842 September 29, 2019 ASSETS Prepaid expenses and other $ 31,974 $ (170) $ 31,804 Operating right-of-use assets — 75,790 75,790 Property, plant and equipment, net 384,224 (1,833) 382,391 Deferred income taxes 13,654 432 14,086 Other non-current assets 64,714 (30,193) 34,521 LIABILITIES AND SHAREHOLDERS' EQUITY Other accrued liabilities $ 106,461 $ 7,939 $ 114,400 Long-term debt and finance lease obligations, net of current portion 187,278 (207) 187,071 Long-term operating lease liabilities — 37,371 37,371 Retained earnings 1,178,677 (1,077) 1,177,600 The components of lease expense for three and nine months ended July 4, 2020 were as follows (in thousands): Three Months Ended Nine Months Ended July 4, 2020 July 4, 2020 Finance lease expense: Amortization of right-of-use assets $ 951 $ 3,220 Interest on lease liabilities 1,236 3,738 Operating lease expense 2,898 8,977 Other lease expense 957 2,216 Total $ 6,042 $ 18,151 Based on the nature of the ROU asset, amortization of finance right-of-use assets, operating lease expense and other lease expense are recorded within either cost of goods sold or selling and administrative expenses and interest on finance lease liabilities is recorded within interest expense on the Condensed Consolidated Statements of Comprehensive Income. Other lease expense includes lease expense for leases with an estimated total term of twelve months or less and variable lease expense related to variations in lease payments as a result of a change in factors or circumstances occurring after the lease possession date. The following tables sets forth the amount of lease assets and lease liabilities included in the Company’s Condensed Consolidated Balance Sheets (in thousands): Financial Statement Line Item July 4, 2020 ASSETS Finance lease assets Property, plant and equipment, net $ 37,484 Operating lease assets Right-of-use operating lease assets 71,885 Total lease assets $ 109,369 LIABILITIES AND SHAREHOLDERS' EQUITY Current Finance lease liabilities Current portion of long-term debt and finance lease obligations $ 2,765 Operating lease liabilities Other accrued liabilities 8,061 Non-current Finance lease liabilities Long-term debt and finance lease obligations, net of current portion 37,387 Operating lease liabilities Long-term operating lease liabilities 38,077 Total lease liabilities $ 86,290 Other information related to the Company’s leases was as follows: July 4, 2020 Weighted-average remaining lease term (in years) Finance leases 12.8 Operating leases 18.5 Weighted-average discount rate Finance leases 17.6 % Operating leases 3.0 % Three Months Ended Nine Months Ended July 4, 2020 July 4, 2020 Cash paid for amounts included in the measurement of lease liabilities (in thousands) Operating cash flows used in finance leases $ 1,152 $ 3,401 Operating cash flows used in operating leases 2,445 8,283 Finance cash flows used in finance leases 989 2,553 ROU assets obtained in exchange for lease liabilities (in thousands) Operating leases $ 83 $ 7,592 Finance leases 2,133 2,490 Future minimum lease payments required under finance and operating leases as of July 4, 2020, were as follows (in thousands): Operating leases Finance leases Remaining 2020 $ 2,581 $ 1,782 2021 8,787 7,285 2022 8,013 6,811 2023 7,570 5,785 2024 5,963 4,993 2025 and thereafter 20,457 98,762 Total minimum lease payments 53,371 125,418 Less: imputed interest (7,233) (85,266) Present value of lease liabilities $ 46,138 $ 40,152 As of July 4, 2020, the Company’s future operating leases that have not yet commenced are immaterial. Future minimum lease payments required under long-term operating and capital leases as of September 28, 2019, were as follows (in thousands): Operating leases Capital leases 2020 $ 10,395 $ 6,734 2021 6,554 3,490 2022 5,584 2,884 2023 5,153 1,652 2024 3,713 958 Thereafter 9,426 34,143 Total $ 40,825 $ 49,861

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Jul. 04, 2020
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	The Company recognized $6.6 million and $17.4 million of compensation expense associated with share-based awards for the three and nine months ended July 4, 2020, respectively, and $5.4 million and $15.4 million for the three and nine months ended June 29, 2019, respectively. The Company uses the Black-Scholes valuation model to determine the fair value of stock options and stock-settled 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. PSUs vest based on the relative total shareholder return ("TSR") of the Company's common stock as compared to the companies in the Russell 3000 index, a market condition, and the Company's economic return performance during the three year performance period, a performance condition. The Company uses the Monte Carlo valuation model to determine the fair value of PSUs at the date of grant for PSUs that vest based on the relative TSR of the Company's common stock. The Company uses its stock price on grant date as the fair value assigned to PSUs that vest based on the Company's economic return performance. 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.

Litigation

Litigation	9 Months Ended
	Jul. 04, 2020
Commitments and Contingencies Disclosure [Abstract]
Litigation	LitigationThe 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
	Jul. 04, 2020
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. We operate in the Americas ("AMER"), Asia-Pacific ("APAC") and Europe, Middle East, and Africa ("EMEA"). 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 July 4, 2020 and June 29, 2019, respectively, is as follows (in thousands): Three Months Ended Nine Months Ended July 4, June 29, July 4, June 29, Net sales: AMER $ 305,941 $ 366,466 $ 993,871 $ 1,084,823 APAC 482,267 384,841 1,321,254 1,141,394 EMEA 91,846 81,318 250,326 229,438 Elimination of inter-segment sales (22,660) (32,981) (88,284) (101,416) $ 857,394 $ 799,644 $ 2,477,167 $ 2,354,239 Operating income (loss): AMER $ 8,516 $ 14,221 $ 21,102 $ 42,901 APAC 66,297 51,264 178,549 151,779 EMEA 1,115 1,522 257 2,385 Corporate and other costs (30,075) (32,604) (96,912) (92,537) $ 45,853 $ 34,403 $ 102,996 $ 104,528 Other income (expense): Interest expense $ (3,988) $ (3,711) $ (11,934) $ (9,105) Interest income 368 445 1,546 1,410 Miscellaneous, net (600) (1,419) (2,619) (4,304) Income before income taxes $ 41,633 $ 29,718 $ 89,989 $ 92,529 July 4, September 28, Total assets: AMER $ 787,879 $ 751,990 APAC 1,116,558 958,744 EMEA 275,134 209,541 Corporate and eliminations 108,953 80,608 $ 2,288,524 $ 2,000,883

Guarantees

Guarantees	9 Months Ended
	Jul. 04, 2020
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 caused other than by 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 July 4, 2020 and June 29, 2019 (in thousands): Nine Months Ended July 4, June 29, Reserve balance, beginning of period $ 6,276 $ 6,646 Accruals for warranties issued during the period 2,323 2,930 Settlements (in cash or in kind) during the period (1,712) (2,420) Reserve balance, end of period $ 6,887 $ 7,156

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Jul. 04, 2020
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders' EquityOn August 20, 2019, the Board of Directors approved a new stock repurchase plan under which the Company is authorized to repurchase $50.0 million of its common stock (the "2019 Program"). The 2019 Program commenced upon completion of the 2018 Program, as defined below. During the three months ended July 4, 2020, the Company had no share repurchases under the 2019 Program. During the nine months ended July 4, 2020, the Company repurchased 315,231 shares under the 2019 Program for $19.5 million at an average price of $61.81 per share. As of July 4, 2020, $27.2 million of repurchase authority remained under the 2019 Program. The Company temporarily suspended any share repurchases under the 2019 Program in March 2020 due to the uncertainties created by the COVID-19 outbreak, but expects to resume share repurchase activity in the fourth quarter of fiscal 2020. On February 14, 2018, the Board of Directors approved a stock repurchase plan under which the Company was authorized to repurchase $200.0 million of its common stock (the "2018 Program"). During the three months ended June 29, 2019, the Company repurchased 784,493 shares under the 2018 Program 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 under the 2018 Program for $150.7 million, at an average price of $56.95 per share. The 2018 Program was completed during the fourth quarter of fiscal 2019, when all share repurchase authority under it was exhausted. All shares repurchased under the aforementioned programs were recorded as treasury stock.

Trade Accounts Receivable Sale

Trade Accounts Receivable Sale Programs	9 Months Ended
	Jul. 04, 2020
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. These facilities are uncommitted facilities. The maximum facility amount under the MUFG RPA as of July 4, 2020 is $340.0 million. The maximum facility amount under the HSBC RPA as of July 4, 2020 is $60.0 million. The MUFG RPA will be automatically extended each 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 previously discussed. 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 $189.9 million and $223.6 million of trade accounts receivable under these programs during the three months ended July 4, 2020 and June 29, 2019, respectively, in exchange for cash proceeds of $189.4 million and $222.1 million, respectively.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Jul. 04, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers Significant Judgments Revenue is 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, including reasonable profit margin, for performance completed to date. Revenue recognized over time is 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 is 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. 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 table below includes the Company’s revenue for the three and nine months ended July 4, 2020 and June 29, 2019, respectively, disaggregated by geographic reportable segment and market sector (in thousands): Three Months Ended July 4, 2020 Reportable Segment: AMER APAC EMEA Total Market Sector: Healthcare/Life Sciences $ 106,130 $ 172,441 $ 51,503 $ 330,074 Industrial/Commercial 70,349 226,887 19,809 317,045 Aerospace/Defense 85,277 36,979 18,805 141,061 Communications 42,392 26,240 582 69,214 External revenue 304,148 462,547 90,699 857,394 Inter-segment sales 1,793 19,720 1,147 22,660 Segment revenue $ 305,941 $ 482,267 $ 91,846 $ 880,054 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 July 4, 2020 Reportable Segment: AMER APAC EMEA Total Market Sector: Healthcare/Life Sciences $ 347,469 $ 440,199 $ 125,673 $ 913,341 Industrial/Commercial 249,530 608,815 55,503 913,848 Aerospace/Defense 286,963 123,161 60,545 470,669 Communications 101,186 74,925 3,198 179,309 External revenue 985,148 1,247,100 244,919 2,477,167 Inter-segment sales 8,723 74,154 5,407 88,284 Segment revenue $ 993,871 $ 1,321,254 $ 250,326 $ 2,565,451 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 July 4, 2020, approximately 90% of the Company's revenue was recognized as products and services were transferred over time. 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 for the nine months ended July 4, 2020 and June 29, 2019 (in thousands): Nine Months Ended July 4, June 29, Contract assets, beginning of period $ 90,841 $ — Cumulative effect adjustment at September 29, 2018 — 76,417 Revenue recognized during the period 2,233,243 2,126,379 Amounts collected or invoiced during the period (2,207,642) (2,097,595) Contract assets, end of period $ 116,442 $ 105,201

Restructuring and Impairment Ch

Restructuring and Impairment Charges	9 Months Ended
	Jul. 04, 2020
Restructuring and Related Activities [Abstract]
Restructuring and Impairment Charges	Restructuring and Impairment Charges Restructuring and impairment costs incurred in the Company's AMER segment primarily relate to the previously announced closure of our Boulder Design Center. These charges are recorded within restructuring and impairment charges on the Condensed Consolidated Statements of Comprehensive Income. Restructuring liabilities are recorded within other accrued liabilities on the Condensed Consolidated Balance Sheets. There were no restructuring and impairment costs incurred during the three months ended July 4, 2020. For the nine months ended July 4, 2020, the Company incurred restructuring and impairment costs of $6.0 million, which consisted of the following: • $3.1 million of fixed asset and operating right-of-use asset impairment at the Company's Boulder Design Center; and • $2.9 million of severance from the reduction of the Company's workforce primarily at the Boulder Design Center. The Company recognized a tax benefit of $0.6 million related to restructuring charges in the nine months ended July 4, 2020. The Company's restructuring accrual activity for the three and nine months ended July 4, 2020 is included in the table below (in thousands): Fixed Asset and Operating Right-of-Use Asset Impairment Employee Termination and Severance Costs Total Accrual balance, January 4, 2020 $ — $ 447 $ 447 Restructuring and impairment costs 3,054 2,949 6,003 Amounts utilized (3,054) (2,049) (5,103) Accrual balance, April 4, 2020 $ — $ 1,347 $ 1,347 Restructuring and impairment costs — — — Amounts utilized — (1,089) (1,089) Accrual balance, July 4, 2020 $ — $ 258 $ 258 There was no material restructuring activity for the three months ended January 4, 2020.

Acquisition

Acquisition	9 Months Ended
	Jul. 04, 2020
Acquisition [Abstract]
Acquisition	AcquisitionOn July 27, 2018, the Company purchased the assets of one of the business lines of Cascade Controls, Inc., 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 (Policies

Basis of Presentation (Policies)	9 Months Ended
	Jul. 04, 2020
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 July 4, 2020 and September 28, 2019, the results of operations and shareholders' equity for the three and nine months ended July 4, 2020 and June 29, 2019, 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. Fiscal 2020 includes 53 weeks; therefore, the first quarter of fiscal 2020 included 14 weeks while all other 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 2019 Annual Report on Form 10-K.
Recently Adopted Accounting Pronouncements & Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements: 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"). 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. In February 2016, the FASB issued ASU 2016-02 (“Topic 842”), which is intended to improve financial reporting of lease transactions by requiring lessees to recognize most leases as a right-of-use (“ROU”) asset and lease liability on their balance sheets for the rights and obligations created by leases, but record expenses on their income statements in a similar manner. For lessors, the guidance modifies the classification criteria and the accounting for sales-type and direct financing leases. ASU 2016-02 also requires disclosures regarding the amount, timing and judgments related to accounting for an entity’s leases and related cash flows. On September 29, 2019, the Company adopted Topic 842 using the modified retrospective method of adoption, which allows financial information for comparative periods prior to adoption not to be updated. The Company recognized right-of-use assets and operating lease liabilities on its Consolidated Balance Sheets, but the standard did not have a material impact on its Consolidated Statements of Comprehensive Income or Consolidated Statements of Cash Flows. ASC 842 provides optional practical expedients to assist with transition to the new standard. Management elected 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. For all new and modified leases after adoption, management elected the short-term lease recognition exemption for all of the Company’s leases that qualify, in addition to the practical expedient to not separate lease and nonlease components. Refer to Note 7, "Leases," for further information. 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 Company adopted this guidance during the first quarter of fiscal 2020 with no material impact to the Company's Consolidated Financial Statements; however, the impact of the new standard on future periods will depend on the facts and circumstances of future transactions. Recently Issued Accounting Pronouncements Not Yet Adopted: In June 2016, the FASB issued ASU 2016-13, which replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and required consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This guidance is effective for the Company beginning in the first quarter of fiscal year 2021. Early adoption is permitted. The Company plans to adopt this methodology the first quarter of fiscal 2021 and does not expect a material impact on its Consolidated Financial Statements. In March 2020, the FASB issued ASU 2020-04, which provides guidance in accounting for contracts, hedging relationships, and other transactions that are affected by reference rate reform. The amendments in this update are elective and were effective immediately upon issuance. The Company is currently in the process of assessing the impacts of reference rate reform but does not expect this standard to have a material impact on its Consolidated Financial Statements. 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
	Jul. 04, 2020
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories as of July 4, 2020 and September 28, 2019 consisted of the following (in thousands): July 4, September 28, Raw materials $ 686,130 $ 577,545 Work-in-process 61,161 49,315 Finished goods 72,252 74,078 Total inventories, net $ 819,543 $ 700,938

Debt, Finance Lease Obligatio_2

Debt, Finance Lease Obligations and Other Financing (Tables)	9 Months Ended
	Jul. 04, 2020
Debt Disclosure [Abstract]
Schedule of Debt, Finance Lease Obligations and Other Financing	Debt, finance lease obligations and other financing as of July 4, 2020 and September 28, 2019 consisted of the following (in thousands): July 4, September 28, 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 revolving commitment — 95,000 Term Loans, due April 28, 2021 138,000 — Finance lease and other financing obligations 48,497 44,492 Unamortized deferred financing fees (1,878) (1,512) Total obligations 334,619 287,980 Less: current portion (145,993) (100,702) Long-term debt and finance lease obligations, net of current portion $ 188,626 $ 187,278

Derivatives (Tables)

Derivatives (Tables)	9 Months Ended
	Jul. 04, 2020
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) Derivative Assets Derivative Liabilities July 4, September 28, July 4, September 28, Derivatives designated as hedging instruments Balance sheet Fair Value Fair Value Balance sheet Fair Value Fair Value Foreign currency forward contracts Prepaid expenses and other $ 1,955 $ 156 Other accrued liabilities $ 175 $ 798 Fair Values of Derivative Instruments (in thousands) Derivative Assets Derivative Liabilities July 4, September 28, July 4, September 28, Derivatives not designated as hedging instruments Balance sheet Fair Value Fair Value Balance sheet Fair Value Fair Value Foreign currency forward contracts Prepaid expenses and other $ 297 $ 912 Other accrued liabilities $ 141 $ 54
Schedule of Derivative Impact on Accumulated Other Comprehensive Income (Loss)	The Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Loss ("OCL") (in thousands) for the Three Months Ended Derivatives in cash flow hedging relationships Amount of Gain (Loss) Recognized in OCL on Derivatives July 4, 2020 June 29, 2019 Foreign currency forward contracts $ 1,990 $ (578) The Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Loss (in thousands) for the Nine Months Ended Derivatives in cash flow hedging relationships Amount of (Loss) Gain Recognized in OCL on Derivatives July 4, 2020 June 29, 2019 Foreign currency forward contracts $ (2,150) $ 275
Schedule of Derivative Impact on Gain (Loss) Recognized in Income	Derivative Impact on (Loss) Gain Recognized in Condensed Consolidated Statements of Comprehensive Income (in thousands) for the Three Months Ended Derivatives in cash flow hedging relationships Classification of Loss Reclassified from Accumulated OCL into Income Amount of Loss Reclassified from Accumulated OCL into Income July 4, 2020 June 29, 2019 Foreign currency forward contracts Cost of sales $ (1,102) $ (153) Foreign currency forward contracts Selling and administrative expenses (86) (19) Derivative Impact on (Loss) Gain Recognized in Condensed Consolidated Statements of Comprehensive Income (in thousands) for the Nine Months Ended Derivatives in cash flow hedging relationships Classification of Loss Reclassified from Accumulated OCL into Income Amount of Loss Reclassified from Accumulated OCL into Income July 4, 2020 June 29, 2019 Foreign currency forward contracts Cost of sales $ (925) $ (1,507) Foreign currency forward contracts Selling and administrative expenses (87) (174)
Schedule of Amount of (Loss) Gain on Derivatives Recognized in Income	Derivatives not designated as hedging instruments Location of Gain Recognized on Derivatives in Income Amount of Gain on Derivatives Recognized in Income July 4, 2020 June 29, 2019 Foreign currency forward contracts Miscellaneous, net $ 166 $ 235 Derivatives not designated as hedging instruments Location of (Loss) Gain Recognized on Derivatives in Income Amount of (Loss) Gain on Derivatives Recognized in Income July 4, 2020 June 29, 2019 Foreign currency forward contracts Miscellaneous, net $ (467) $ 1,865
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 July 4, 2020 and September 28, 2019, by input level: Fair Value Measurements Using Input Levels Asset (in thousands) July 4, 2020 Level 1 Level 2 Level 3 Total Derivatives Foreign currency forward contracts $ — $ 1,936 $ — $ 1,936 September 28, 2019 Derivatives Foreign currency forward contracts $ — $ 216 $ — $ 216

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Jul. 04, 2020
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 July 4, 2020 and June 29, 2019 (in thousands, except per share amounts): Three Months Ended Nine Months Ended July 4, June 29, July 4, June 29, Net income $ 35,842 $ 24,801 $ 79,774 $ 71,785 Basic weighted average common shares outstanding 29,199 29,912 29,210 30,637 Dilutive effect of share-based awards and options outstanding 594 723 726 783 Diluted weighted average shares outstanding 29,793 30,635 29,936 31,420 Earnings per share: Basic $ 1.23 $ 0.83 $ 2.73 $ 2.34 Diluted $ 1.20 $ 0.81 $ 2.66 $ 2.28

Leases (Tables)

Leases (Tables)	9 Months Ended
	Jul. 04, 2020
Leases [Abstract]
Schedule of Impacts of Adoption of New Accounting Pronouncements	As a result of the adoption, the following adjustments were made to the opening balances of the Company's Condensed Consolidated Balance Sheets (in thousands): September 28, 2019 Impacts due to adoption of Topic 842 September 29, 2019 ASSETS Prepaid expenses and other $ 31,974 $ (170) $ 31,804 Operating right-of-use assets — 75,790 75,790 Property, plant and equipment, net 384,224 (1,833) 382,391 Deferred income taxes 13,654 432 14,086 Other non-current assets 64,714 (30,193) 34,521 LIABILITIES AND SHAREHOLDERS' EQUITY Other accrued liabilities $ 106,461 $ 7,939 $ 114,400 Long-term debt and finance lease obligations, net of current portion 187,278 (207) 187,071 Long-term operating lease liabilities — 37,371 37,371 Retained earnings 1,178,677 (1,077) 1,177,600
Schedule of Lease Expense and Other Information	The components of lease expense for three and nine months ended July 4, 2020 were as follows (in thousands): Three Months Ended Nine Months Ended July 4, 2020 July 4, 2020 Finance lease expense: Amortization of right-of-use assets $ 951 $ 3,220 Interest on lease liabilities 1,236 3,738 Operating lease expense 2,898 8,977 Other lease expense 957 2,216 Total $ 6,042 $ 18,151 Other information related to the Company’s leases was as follows: July 4, 2020 Weighted-average remaining lease term (in years) Finance leases 12.8 Operating leases 18.5 Weighted-average discount rate Finance leases 17.6 % Operating leases 3.0 % Three Months Ended Nine Months Ended July 4, 2020 July 4, 2020 Cash paid for amounts included in the measurement of lease liabilities (in thousands) Operating cash flows used in finance leases $ 1,152 $ 3,401 Operating cash flows used in operating leases 2,445 8,283 Finance cash flows used in finance leases 989 2,553 ROU assets obtained in exchange for lease liabilities (in thousands) Operating leases $ 83 $ 7,592 Finance leases 2,133 2,490
Schedule of Lease Assets and Liabilities	The following tables sets forth the amount of lease assets and lease liabilities included in the Company’s Condensed Consolidated Balance Sheets (in thousands): Financial Statement Line Item July 4, 2020 ASSETS Finance lease assets Property, plant and equipment, net $ 37,484 Operating lease assets Right-of-use operating lease assets 71,885 Total lease assets $ 109,369 LIABILITIES AND SHAREHOLDERS' EQUITY Current Finance lease liabilities Current portion of long-term debt and finance lease obligations $ 2,765 Operating lease liabilities Other accrued liabilities 8,061 Non-current Finance lease liabilities Long-term debt and finance lease obligations, net of current portion 37,387 Operating lease liabilities Long-term operating lease liabilities 38,077 Total lease liabilities $ 86,290
Schedule of Future Minimum Lease Payments	Future minimum lease payments required under finance and operating leases as of July 4, 2020, were as follows (in thousands): Operating leases Finance leases Remaining 2020 $ 2,581 $ 1,782 2021 8,787 7,285 2022 8,013 6,811 2023 7,570 5,785 2024 5,963 4,993 2025 and thereafter 20,457 98,762 Total minimum lease payments 53,371 125,418 Less: imputed interest (7,233) (85,266) Present value of lease liabilities $ 46,138 $ 40,152
Schedule of Future Minimum Lease Payments (Prior to Adoption)	Future minimum lease payments required under long-term operating and capital leases as of September 28, 2019, were as follows (in thousands): Operating leases Capital leases 2020 $ 10,395 $ 6,734 2021 6,554 3,490 2022 5,584 2,884 2023 5,153 1,652 2024 3,713 958 Thereafter 9,426 34,143 Total $ 40,825 $ 49,861

Reportable Segments (Tables)

Reportable Segments (Tables)	9 Months Ended
	Jul. 04, 2020
Segment Reporting [Abstract]
Schedule of Reportable Segments Information	Information about the Company’s three reportable segments for the three and nine months ended July 4, 2020 and June 29, 2019, respectively, is as follows (in thousands): Three Months Ended Nine Months Ended July 4, June 29, July 4, June 29, Net sales: AMER $ 305,941 $ 366,466 $ 993,871 $ 1,084,823 APAC 482,267 384,841 1,321,254 1,141,394 EMEA 91,846 81,318 250,326 229,438 Elimination of inter-segment sales (22,660) (32,981) (88,284) (101,416) $ 857,394 $ 799,644 $ 2,477,167 $ 2,354,239 Operating income (loss): AMER $ 8,516 $ 14,221 $ 21,102 $ 42,901 APAC 66,297 51,264 178,549 151,779 EMEA 1,115 1,522 257 2,385 Corporate and other costs (30,075) (32,604) (96,912) (92,537) $ 45,853 $ 34,403 $ 102,996 $ 104,528 Other income (expense): Interest expense $ (3,988) $ (3,711) $ (11,934) $ (9,105) Interest income 368 445 1,546 1,410 Miscellaneous, net (600) (1,419) (2,619) (4,304) Income before income taxes $ 41,633 $ 29,718 $ 89,989 $ 92,529 July 4, September 28, Total assets: AMER $ 787,879 $ 751,990 APAC 1,116,558 958,744 EMEA 275,134 209,541 Corporate and eliminations 108,953 80,608 $ 2,288,524 $ 2,000,883

Guarantees (Tables)

Guarantees (Tables)	9 Months Ended
	Jul. 04, 2020
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 July 4, 2020 and June 29, 2019 (in thousands): Nine Months Ended July 4, June 29, Reserve balance, beginning of period $ 6,276 $ 6,646 Accruals for warranties issued during the period 2,323 2,930 Settlements (in cash or in kind) during the period (1,712) (2,420) Reserve balance, end of period $ 6,887 $ 7,156

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Jul. 04, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The table below includes the Company’s revenue for the three and nine months ended July 4, 2020 and June 29, 2019, respectively, disaggregated by geographic reportable segment and market sector (in thousands): Three Months Ended July 4, 2020 Reportable Segment: AMER APAC EMEA Total Market Sector: Healthcare/Life Sciences $ 106,130 $ 172,441 $ 51,503 $ 330,074 Industrial/Commercial 70,349 226,887 19,809 317,045 Aerospace/Defense 85,277 36,979 18,805 141,061 Communications 42,392 26,240 582 69,214 External revenue 304,148 462,547 90,699 857,394 Inter-segment sales 1,793 19,720 1,147 22,660 Segment revenue $ 305,941 $ 482,267 $ 91,846 $ 880,054 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 July 4, 2020 Reportable Segment: AMER APAC EMEA Total Market Sector: Healthcare/Life Sciences $ 347,469 $ 440,199 $ 125,673 $ 913,341 Industrial/Commercial 249,530 608,815 55,503 913,848 Aerospace/Defense 286,963 123,161 60,545 470,669 Communications 101,186 74,925 3,198 179,309 External revenue 985,148 1,247,100 244,919 2,477,167 Inter-segment sales 8,723 74,154 5,407 88,284 Segment revenue $ 993,871 $ 1,321,254 $ 250,326 $ 2,565,451 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 for the nine months ended July 4, 2020 and June 29, 2019 (in thousands): Nine Months Ended July 4, June 29, Contract assets, beginning of period $ 90,841 $ — Cumulative effect adjustment at September 29, 2018 — 76,417 Revenue recognized during the period 2,233,243 2,126,379 Amounts collected or invoiced during the period (2,207,642) (2,097,595) Contract assets, end of period $ 116,442 $ 105,201

Restructuring and Impairment _2

Restructuring and Impairment Charges (Tables)	9 Months Ended
	Jul. 04, 2020
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Accrual Activity	The Company's restructuring accrual activity for the three and nine months ended July 4, 2020 is included in the table below (in thousands): Fixed Asset and Operating Right-of-Use Asset Impairment Employee Termination and Severance Costs Total Accrual balance, January 4, 2020 $ — $ 447 $ 447 Restructuring and impairment costs 3,054 2,949 6,003 Amounts utilized (3,054) (2,049) (5,103) Accrual balance, April 4, 2020 $ — $ 1,347 $ 1,347 Restructuring and impairment costs — — — Amounts utilized — (1,089) (1,089) Accrual balance, July 4, 2020 $ — $ 258 $ 258

Basis of Presentation Narrative

Basis of Presentation Narrative (Details) - USD ($) $ in Thousands	Jul. 04, 2020	Sep. 29, 2019	Sep. 28, 2019	Sep. 30, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings	$ 1,257,374	$ 1,177,600	$ 1,178,677
Adjustments due to the adoption of ASU 2014-09 | ASU 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings				$ 7,800

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Jul. 04, 2020	Sep. 28, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 686,130	$ 577,545
Work-in-process	61,161	49,315
Finished goods	72,252	74,078
Total inventories, net	$ 819,543	$ 700,938

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Thousands	Jul. 04, 2020	Sep. 28, 2019
Inventory [Line Items]
Customer deposits	$ 173,027	$ 139,841
Inventory
Inventory [Line Items]
Customer deposits	$ 166,900	$ 136,500

Debt, Finance Lease Obligatio_3

Debt, Finance Lease Obligations and Other Financing - Schedule of Debt, Finance Lease Obligations and Other Financing (Details) - USD ($) $ in Thousands	Jul. 04, 2020	Sep. 29, 2019	Sep. 28, 2019
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 288,000		$ 245,000
Finance lease and other financing obligations	48,497		44,492
Unamortized deferred financing fees	(1,878)		(1,512)
Total obligations	334,619		287,980
Long-term debt and finance lease obligations, net of current portion	188,626	$ 187,071	187,278
Current portion of long-term debt and finance lease obligations	(145,993)		(100,702)
Unsecured Debt | Term Loans, due April 28, 2021
Debt Instrument [Line Items]
Short-term Debt, Gross	138,000		0
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]
Long-term Debt, Gross	$ 100,000		$ 100,000
Interest Rate, Senior Notes	4.05%		4.05%
Senior Notes | 4.22% Senior Notes, due June 15, 2028
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 50,000		$ 50,000
Interest Rate, Senior Notes	4.22%		4.22%
Line of Credit | Borrowings under the credit facility
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 0		$ 95,000

Debt, Finance Lease Obligatio_4

Debt, Finance Lease Obligations and Other Financing - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Jul. 04, 2020	Jun. 29, 2019	Sep. 28, 2019	May 14, 2019
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 288,000		$ 245,000
Amount borrowed	595,240	$ 884,500
Debt, Fair Value	$ 298,300		252,300
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, term	5 years
Maximum commitment	$ 350,000			$ 300,000
Amount credit facility may be further increased	$ 600,000
Annual commitment fee	0.125%
Unsecured Debt | Term Loans, due April 28, 2021
Debt Instrument [Line Items]
Credit facility, term	364 days
Short-term Debt, Gross	$ 138,000		0
Interest Rate, Credit Facility	2.75%
Ticking Fee Percentage	0.75%
Unsecured Debt | Term Loans, due April 28, 2021 | Eurocurrency rate plus margin
Debt Instrument [Line Items]
Interest Rate, Credit Facility	1.75%
Unsecured Debt | Term Loans, due April 28, 2021 | Base rate plus margin
Debt Instrument [Line Items]
Interest Rate, Credit Facility	0.75%
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]
Long-term Debt, Gross	$ 100,000		$ 100,000
Interest Rate, Senior Notes	4.05%		4.05%
Senior Notes | 4.22% Senior Notes, due June 15, 2028
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 50,000		$ 50,000
Interest Rate, Senior Notes	4.22%		4.22%
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 0		$ 95,000
Highest daily borrowings	164,500
Average daily borrowings	97,100
Amount borrowed	455,700
Amount repaid	$ 550,700

Derivatives - Schedule of Fair

Derivatives - Schedule of Fair Values of Derivative Instruments (Details) - Foreign currency forward contracts - USD ($) $ in Thousands	Jul. 04, 2020	Sep. 28, 2019
Derivatives designated as hedging instruments | Prepaid expenses and other
Derivatives, Fair Value [Line Items]
Derivative Assets	$ 1,955	$ 156
Derivatives designated as hedging instruments | Other accrued liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	175	798
Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Derivative Assets	200	900
Derivatives not designated as hedging instruments | Prepaid expenses and other
Derivatives, Fair Value [Line Items]
Derivative Assets	297	912
Derivatives not designated as hedging instruments | Other accrued liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	$ 141	$ 54

Derivatives - Schedule of Deriv

Derivatives - Schedule of Derivative Impact on Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 04, 2020	Jun. 29, 2019	Jul. 04, 2020	Jun. 29, 2019
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 OCL on Derivatives	$ 1,990	$ (578)	$ (2,150)	$ 275

Derivatives - Schedule of Der_2

Derivatives - Schedule of Derivative Impact on (Loss) Gain Recognized in Income (Details) - Derivatives designated as hedging instruments - Derivatives in cash flow hedging relationships - Foreign currency forward contracts - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 04, 2020	Jun. 29, 2019	Jul. 04, 2020	Jun. 29, 2019
Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Reclassified from Accumulated OCL into Income	$ (1,102)	$ (153)	$ (925)	$ (1,507)
Selling and administrative expenses
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Reclassified from Accumulated OCL into Income	$ (86)	$ (19)	$ (87)	$ (174)

Derivatives - Schedule of Amoun

Derivatives - Schedule of Amount of (Loss) Gain on Derivatives Recognized in Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 04, 2020	Jun. 29, 2019	Jul. 04, 2020	Jun. 29, 2019
Derivatives not designated as hedging instruments | Foreign currency forward contracts | Miscellaneous, net
Derivative [Line Items]
Amount of Gain (Loss) on Derivatives Recognized in Income	$ 166	$ 235	$ (467)	$ 1,865

Derivatives - Schedule of Fai_2

Derivatives - Schedule of Fair Value Measurements Using Input Levels (Details) - Recurring - Foreign currency forward contracts - USD ($) $ in Thousands	Jul. 04, 2020	Sep. 28, 2019
Derivative asset	$ 1,936	$ 216
Level 1
Derivative asset	0	0
Level 2
Derivative asset	1,936	216
Level 3
Derivative asset	$ 0	$ 0

Derivatives - Narrative (Detail

Derivatives - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Jul. 04, 2020	Sep. 28, 2019
Estimated unrealized gains (losses), net of tax, expected to be reclassified in next 12 months	$ 1,800
Derivatives designated as hedging instruments | Derivatives in cash flow hedging relationships | Foreign currency forward contracts
Notional amount of forward exchange contracts	79,200	$ 80,000
Fair value of derivative liability		600
Fair value of derivative asset	1,800
Derivatives not designated as hedging instruments | Foreign currency forward contracts
Notional amount of forward exchange contracts	18,800	34,400
Fair value of derivative asset	$ 200	$ 900

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 04, 2020	Jun. 29, 2019	Jul. 04, 2020	Jun. 29, 2019
Income Tax Disclosure [Abstract]
Income tax expense	$ 5,791	$ 4,917	$ 10,215	$ 20,744
Effective Income Tax Rate, Percent	13.90%	16.50%	11.40%	22.40%
Tax Cuts & Jobs Act of 2017, Income tax expense (benefit)			$ (1,900)	$ 7,000
Special Tax Items Expense (Benefit)			1,100
Uncertain Tax Positions [Member]
Income Tax Examination [Line Items]
Other Tax Expense (Benefit)	$ (800)		(800)
Special Tax Items [Member]
Income Tax Examination [Line Items]
Other Tax Expense (Benefit)			(800)
Restructuring Charges [Member]
Income Tax Examination [Line Items]
Other Tax Expense (Benefit)			$ (600)

Earnings Per Share - Reconcilia

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
	Jul. 04, 2020	Jun. 29, 2019	Jul. 04, 2020	Jun. 29, 2019
Earnings Per Share [Abstract]
Net income	$ 35,842	$ 24,801	$ 79,774	$ 71,785
Basic weighted average common shares outstanding (in shares)	29,199	29,912	29,210	30,637
Dilutive effect of share-based awards and options outstanding (in shares)	594	723	726	783
Diluted weighted average shares outstanding (in shares)	29,793	30,635	29,936	31,420
Earnings per share:
Basic (in dollars per share)	$ 1.23	$ 0.83	$ 2.73	$ 2.34
Diluted (in dollars per share)	$ 1.20	$ 0.81	$ 2.66	$ 2.28

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Jul. 04, 2020	Jun. 29, 2019	Jul. 04, 2020	Jun. 29, 2019
Share-based awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Diluted Earnings Per Share	0.3	0.1	0.1	0.1

Leases Schedule of Impacts of A

Leases Schedule of Impacts of Adoption of New Accounting Pronouncement (Details) - USD ($) $ in Thousands	Jul. 04, 2020	Sep. 29, 2019	Sep. 28, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Prepaid expenses and other	$ 32,836	$ 31,804	$ 31,974
Operating lease right-of-use assets	71,885	75,790	0
Property, plant and equipment, net	380,056	382,391	384,224
Deferred income taxes	14,089	14,086	13,654
Other assets	34,707	34,521	64,714
Other accrued liabilities	105,290	114,400	106,461
Long-term debt and finance lease obligations, net of current portion	188,626	187,071	187,278
Long-term operating lease liabilities	38,077	37,371	0
Retained earnings	$ 1,257,374	1,177,600	$ 1,178,677
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Prepaid expenses and other		(170)
Operating lease right-of-use assets		75,790
Property, plant and equipment, net		(1,833)
Deferred income taxes		432
Other assets		(30,193)
Other accrued liabilities		7,939
Long-term debt and finance lease obligations, net of current portion		(207)
Long-term operating lease liabilities		37,371
Retained earnings		$ (1,077)

Leases Schedule of Lease Expens

Leases Schedule of Lease Expense and Other Information (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Jul. 04, 2020USD ($)	Jul. 04, 2020USD ($)
Leases [Abstract]
Amortization of right-of-use assets	$ 951	$ 3,220
Interest on lease liabilities	1,236	3,738
Operating lease expense	2,898	8,977
Other lease expense	957	2,216
Total lease expense	$ 6,042	$ 18,151
Weighted average remaining lease term, Finance Lease	12 years 9 months 18 days	12 years 9 months 18 days
Weighted average remaining lease term, Operating Lease	18 years 6 months	18 years 6 months
Weighted average discount rate, Finance Lease	17.60%	17.60%
Weighted average discount rate, Operating Lease	3.00%	3.00%
Operating cash flows used in finance leases	$ 1,152	$ 3,401
Operating cash flows used in operating leases	2,445	8,283
Finance cash flows used in finance leases	989	2,553
Right-of-use asset obtained in exchange for operating lease liability	83	7,592
Right-of-use asset obtained in exchange for finance lease liability	$ 2,133	$ 2,490

Leases Schedule of Lease Assets

Leases Schedule of Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Jul. 04, 2020	Sep. 29, 2019	Sep. 28, 2019
Assets and Liabilities, Leases [Abstract]
Finance lease right-of-use asset	$ 37,484
Operating lease right-of-use assets	71,885	$ 75,790	$ 0
Total lease assets	109,369
Current finance lease liabilitlies	2,765
Current operating lease liabilities	8,061
Long-term finance lease liabilities	37,387
Long-term operating lease liabilities	38,077	$ 37,371	$ 0
Total lease liabilities	$ 86,290

Leases Schedule of Future Minim

Leases Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Jul. 04, 2020USD ($)
Finance Lease Liabilities, Payments, Due [Abstract]
Remaining 2020	$ 1,782
2021	7,285
2022	6,811
2023	5,785
2024	4,993
2025 and thereafter	98,762
Total minimum lease payments	125,418
Less: imputed interest	(85,266)
Present value of lease liabilities	40,152
Operating Lease Liabilities, Payments Due [Abstract]
Remaining 2020	2,581
2021	8,787
2022	8,013
2023	7,570
2024	5,963
2025 and thereafter	20,457
Total minimum lease payments	53,371
Less: imputed interest	(7,233)
Present value of lease liabilities	$ 46,138

Leases Schedule of Future Min_2

Leases Schedule of Future Minimum Lease Payments (Prior to Adoption) (Details) $ in Thousands	Sep. 28, 2019USD ($)
Other Commitments [Abstract]
Operating Leases, 2020	$ 10,395
Operating Leases, 2021	6,554
Operating Leases, 2022	5,584
Operating Leases, 2023	5,153
Operating Leases, 2024	3,713
Operating Leases, Thereafter	9,426
Operating Leases, Total	40,825
Capital Leases, 2020	6,734
Capital Leases, 2021	3,490
Capital Leases, 2022	2,884
Capital Leases, 2023	1,652
Capital Leases, 2024	958
Capital Leases, Thereafter	34,143
Capital Leases, Total	$ 49,861

Leases Narrative (Details)

Leases Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Jul. 04, 2020	Sep. 29, 2019	Sep. 28, 2019
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	$ 71,885	$ 75,790	$ 0
Present value of lease liabilities	46,138
Other assets	34,707	34,521	64,714
Retained earnings	$ 1,257,374	1,177,600	$ 1,178,677
Minimum
Lessee, Lease, Description [Line Items]
Lease Term of Contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease Term of Contract	40 years
Accounting Standards Update 2016-02
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets		75,790
Present value of lease liabilities		45,500
Other assets		(30,193)
Retained earnings		(1,077)
Before [Domain] | Accounting Standards Update 2016-02
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets		$ 45,500

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 04, 2020	Jun. 29, 2019	Jul. 04, 2020	Jun. 29, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Expense	$ 6.6	$ 5.4	$ 17.4	$ 15.4
Performance Shares | 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 | 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 - Schedule

Reportable Segments - Schedule of Reportable Segments Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 04, 2020	Jun. 29, 2019	Jul. 04, 2020	Jun. 29, 2019	Sep. 28, 2019
Net sales	$ 857,394	$ 799,644	$ 2,477,167	$ 2,354,239
Operating income (loss):	45,853	34,403	102,996	104,528
Interest expense	(3,988)	(3,711)	(11,934)	(9,105)
Interest income	368	445	1,546	1,410
Miscellaneous, net	(600)	(1,419)	(2,619)	(4,304)
Income before income taxes	41,633	29,718	89,989	92,529
Total assets	2,288,524		2,288,524		$ 2,000,883
Elimination of inter-segment sales
Net sales	(22,660)	(32,981)	(88,284)	(101,416)
Corporate
Operating income (loss):	(30,075)	(32,604)	(96,912)	(92,537)
Corporate and eliminations
Total assets	108,953		108,953		80,608
AMER | Operating Segments
Net sales	305,941	366,466	993,871	1,084,823
Operating income (loss):	8,516	14,221	21,102	42,901
Total assets	787,879		787,879		751,990
APAC | Operating Segments
Net sales	482,267	384,841	1,321,254	1,141,394
Operating income (loss):	66,297	51,264	178,549	151,779
Total assets	1,116,558		1,116,558		958,744
EMEA | Operating Segments
Net sales	91,846	81,318	250,326	229,438
Operating income (loss):	1,115	$ 1,522	257	$ 2,385
Total assets	$ 275,134		$ 275,134		$ 209,541

Reportable Segments - Narrative

Reportable Segments - Narrative (Details)	9 Months Ended
	Jul. 04, 2020segment
Segment Reporting [Abstract]
Number of reportable segments	3

Guarantees - Schedule of Activi

Guarantees - Schedule of Activity Related to Limited Warranty Liability (Details) - USD ($) $ in Thousands	9 Months Ended
	Jul. 04, 2020	Jun. 29, 2019
Movement in Standard Product Warranty Accrual [Roll Forward]
Limited warranty liability, beginning balance	$ 6,276	$ 6,646
Accruals for warranties issued during the period	2,323	2,930
Settlements (in cash or in kind) during the period	(1,712)	(2,420)
Limited warranty liability, ending balance	$ 6,887	$ 7,156

Guarantees - Narrative (Details

Guarantees - Narrative (Details)	9 Months Ended
	Jul. 04, 2020
Minimum
Product Warranty Liability [Line Items]
Product warranty specification period	12 months
Maximum
Product Warranty Liability [Line Items]
Product warranty specification period	24 months

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jul. 04, 2020	Jun. 29, 2019	Jul. 04, 2020	Jun. 29, 2019	Aug. 20, 2019	Feb. 14, 2018
2019 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Authorized repurchase amount					$ 50,000,000
Amount repurchased (in shares)	0		315,231
Amount repurchased			$ 19,500,000
Average repurchase price (in dollars per share)			$ 61.81
Remaining authorized repurchase amount	$ 27,200,000		$ 27,200,000
2018 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Authorized repurchase amount						$ 200,000,000
Amount repurchased (in shares)		784,493		2,646,125
Amount repurchased		$ 44,400,000		$ 150,700,000
Average repurchase price (in dollars per share)		$ 56.61		$ 56.95

Trade Accounts Receivable Sal_2

Trade Accounts Receivable Sale Programs - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 04, 2020	Jun. 29, 2019	Jul. 04, 2020	Jun. 29, 2019
Amount Received From Trade Accounts Receivable Sold To Third Party [Line Items]
Trade Accounts Receivables Sold	$ 189,900	$ 223,600	$ 606,000	$ 698,000
Cash Proceeds Received from Trade Accounts Receivable Sold	189,400	$ 222,100	603,400	$ 693,700
MUFG RPA
Amount Received From Trade Accounts Receivable Sold To Third Party [Line Items]
Maximum facility amount	340,000		$ 340,000
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	$ 60,000		$ 60,000

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 04, 2020	Jun. 29, 2019	Jul. 04, 2020	Jun. 29, 2019
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	$ 880,054	$ 832,625	$ 2,565,451	$ 2,455,655
Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	857,394	799,644	2,477,167	2,354,239
Elimination of inter-segment sales
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	22,660	32,981	88,284	101,416
Healthcare/Life Sciences | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	330,074	308,757	913,341	908,971
Industrial/Commercial | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	317,045	247,895	913,848	717,273
Aerospace/Defense | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	141,061	151,427	470,669	414,402
Communications | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	69,214	91,565	179,309	313,593
AMER
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	305,941	366,466	993,871	1,084,823
AMER | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	304,148	364,141	985,148	1,079,638
AMER | Elimination of inter-segment sales
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	1,793	2,325	8,723	5,185
AMER | Healthcare/Life Sciences | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	106,130	127,644	347,469	368,843
AMER | Industrial/Commercial | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	70,349	91,347	249,530	269,273
AMER | Aerospace/Defense | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	85,277	80,351	286,963	218,578
AMER | Communications | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	42,392	64,799	101,186	222,944
APAC
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	482,267	384,841	1,321,254	1,141,394
APAC | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	462,547	356,461	1,247,100	1,049,106
APAC | Elimination of inter-segment sales
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	19,720	28,380	74,154	92,288
APAC | Healthcare/Life Sciences | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	172,441	149,312	440,199	443,073
APAC | Industrial/Commercial | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	226,887	133,374	608,815	381,453
APAC | Aerospace/Defense | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	36,979	47,496	123,161	137,342
APAC | Communications | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	26,240	26,279	74,925	87,238
EMEA
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	91,846	81,318	250,326	229,438
EMEA | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	90,699	79,042	244,919	225,495
EMEA | Elimination of inter-segment sales
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	1,147	2,276	5,407	3,943
EMEA | Healthcare/Life Sciences | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	51,503	31,801	125,673	97,055
EMEA | Industrial/Commercial | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	19,809	23,174	55,503	66,547
EMEA | Aerospace/Defense | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	18,805	23,580	60,545	58,482
EMEA | Communications | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	$ 582	$ 487	$ 3,198	$ 3,411

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Schedule of Contract Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Jul. 04, 2020	Jun. 29, 2019	Sep. 28, 2019	Sep. 30, 2018	Sep. 29, 2018
Change in Contract with Customer Asset [Line Items]
Contract assets	$ 116,442	$ 105,201	$ 90,841		$ 0
Revenue recognized	2,233,243	2,126,379
Amounts collected or invoiced	$ (2,207,642)	$ (2,097,595)
ASU 2014-09 | Adjustments due to the adoption of ASU 2014-09
Change in Contract with Customer Asset [Line Items]
Contract assets				$ 76,417

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 04, 2020	Jun. 29, 2019	Jul. 04, 2020	Jun. 29, 2019	Sep. 28, 2019
Disaggregation of Revenue [Line Items]
Deferred Revenue	$ 61.7		$ 61.7		$ 67.9
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Percentage of Revenue	90.00%	92.00%	90.00%	90.00%

Restructuring and Impairment _3

Restructuring and Impairment Charges Schedule of Restructuring Accrual Activity (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Jul. 04, 2020	Apr. 04, 2020	Jan. 04, 2020	Jun. 29, 2019	Jul. 04, 2020	Jun. 29, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 258	$ 1,347	$ 447		$ 258
Restructuring and impairment charges	0	6,003	0	$ 0	6,003	$ 0
Amounts utilized	(1,089)	(5,103)
Fixed Asset and Operating Right-of-Use Asset Impairment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0	0	0		0
Restructuring and impairment charges	0	3,054			3,100
Amounts utilized	0	(3,054)
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	258	1,347	$ 447		258
Restructuring and impairment charges	0	2,949			$ 2,900
Amounts utilized	$ (1,089)	$ (2,049)

Restructuring and Impairment _4

Restructuring and Impairment Charges Narrative (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Jul. 04, 2020	Apr. 04, 2020	Jan. 04, 2020	Jun. 29, 2019	Jul. 04, 2020	Jun. 29, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment charges	$ 0	$ 6,003	$ 0	$ 0	$ 6,003	$ 0
Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Other Tax Expense (Benefit)					(600)
Fixed Asset and Operating Right-of-Use Asset Impairment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment charges	0	3,054			3,100
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment charges	$ 0	$ 2,949			$ 2,900

Acquisition Narrative (Details)

Acquisition Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 30, 2019	Dec. 29, 2018	Jul. 04, 2020	Jun. 29, 2019
Acquisition [Abstract]
Payments to Acquire Businesses, Net of Cash Acquired		$ 12,400
Business acquisition	$ 1,200		$ 0	$ 1,180