Johnson Outdoors (JOUT) 10-Q 4 Feb 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 28, 2018	Jan. 25, 2019
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 28, 2018
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,019
Entity Registrant Name	JOHNSON OUTDOORS INC
Entity Central Index Key	788,329
Current Fiscal Year End Date	--09-27
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		8,827,384
Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		1,211,602

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 28, 2018	Dec. 29, 2017
Net sales	$ 104,440	$ 116,579
Cost of sales	60,121	67,768
Gross profit	44,319	48,811
Operating expenses:
Marketing and selling	24,693	26,495
Administrative management, finance and information systems	8,387	10,407
Research and development	5,261	4,872
Total operating expenses	38,341	41,774
Operating profit	5,978	7,037
Interest income	(540)	(202)
Interest expense	37	72
Other expense (income), net	2,150	(1,157)
Profit before income taxes	4,331	8,324
Income tax expense	810	8,089
Net income	$ 3,521	$ 235
Weighted avage common shares - Basic:
Participating securities (shares)	43	46
Weighted average common shares - Dilutive (shares)	10,008	9,962
Class A
Weighted avage common shares - Basic:
Weighted average common shares - Basic (shares)	8,753	8,704
Net income per common share - Basic:
Net income per common share - Basic (USD per share)	$ 0.36	$ 0.02
Net income per common share - Diluted:
Net income per common share - Diluted (USD per share)	0.35	0.02
Dividends declared per common share:
Dividends declared per common share (USD per share)	$ 0.14	$ 0.10
Class B
Weighted avage common shares - Basic:
Weighted average common shares - Basic (shares)	1,212	1,212
Net income per common share - Basic:
Net income per common share - Basic (USD per share)	$ 0.32	$ 0.02
Net income per common share - Diluted:
Net income per common share - Diluted (USD per share)	0.35	0.02
Dividends declared per common share:
Dividends declared per common share (USD per share)	$ 0.13	$ 0.09

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2018	Dec. 29, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 3,521	$ 235
Foreign currency translation:
Foreign currency translation	(1,700)	(276)
Defined benefit pension plan:
Unrecognized gain arising during period, net of tax of $22 and $31, respectively	70	98
Amortization of unrecognized losses included in net periodic benefit cost, net of tax of $11 and $13, respectively	35	41
Total other comprehensive loss	(1,595)	(137)
Total comprehensive income	$ 1,926	$ 98

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2018	Dec. 29, 2017
Statement of Comprehensive Income [Abstract]
Pension plans, unrecognized gain, tax	$ 22	$ 31
Change in pension plans, tax	$ 11	$ 13

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Dec. 28, 2018	Sep. 28, 2018	Dec. 29, 2017
Current assets:
Cash and cash equivalents	$ 72,076	$ 121,877	$ 73,006
Short term investments	32,138	28,714	5,313
Accounts receivable, net	55,558	40,866	71,895
Inventories	116,278	88,864	90,861
Other current assets	6,008	5,373	3,483
Total current assets	282,058	285,694	244,558
Property, plant and equipment, net of accumulated depreciation of $133,958, $131,322 and $135,497, respectively	56,650	55,934	52,113
Deferred income taxes	11,678	11,748	16,176
Goodwill	11,164	11,199	11,228
Other intangible assets, net	12,047	12,341	13,235
Other assets	17,517	19,020	17,823
Total assets	391,114	395,936	355,133
Current liabilities:
Accounts payable	41,820	34,160	37,893
Accrued liabilities:
Salaries, wages and benefits	13,146	22,315	13,522
Accrued warranty	9,021	8,499	7,408
Income taxes payable	6,299	7,739	6,551
Accrued discounts and returns	7,508	7,505	6,836
Other	11,300	12,566	13,379
Total current liabilities	89,094	92,784	85,589
Deferred income taxes	1,672	1,715	1,835
Retirement benefits	1,913	1,945	8,602
Other liabilities	18,868	20,295	17,161
Total liabilities	111,547	116,739	113,187
Common stock:
Capital in excess of par value	73,968	75,025	73,145
Retained earnings	204,965	202,828	166,151
Accumulated other comprehensive income	1,892	3,487	4,856
Treasury stock at cost, shares of Class A common stock: 29,225, 67,655 and 69,982, respectively	(1,761)	(2,646)	(2,709)
Total shareholders’ equity	279,567	279,197	241,946
Total liabilities and shareholders’ equity	391,114	395,936	355,133
Class A
Common stock:
Shares issued and outstanding	442	442	442
Class B
Common stock:
Shares issued and outstanding	$ 61	$ 61	$ 61

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Thousands	Dec. 28, 2018	Sep. 28, 2018	Dec. 29, 2017
Property, plant and equipment, accumulated depreciation	$ 133,958	$ 131,322	$ 135,497
Class A
Common stock, shares issued (shares)	8,825,790	8,787,360	8,785,735
Common stock, shares outstanding (shares)	8,825,790	8,787,360	8,785,735
Treasury stock, shares (shares)	29,225	67,655	69,982
Class B
Common stock, shares issued (shares)	1,211,602	1,211,686	1,211,686
Common stock, shares outstanding (shares)	1,211,602	1,211,686	1,211,686

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2018	Dec. 29, 2017
CASH USED FOR OPERATING ACTIVITIES
Net income	$ 3,521	$ 235
Adjustments to reconcile net income to net cash used for operating activities:
Depreciation	3,090	2,943
Amortization of intangible assets	259	248
Amortization of deferred financing costs	7	38
Stock based compensation	534	537
Loss (gain) on disposal of productive assets	25	(98)
Deferred income taxes	47	6,469
Change in operating assets and liabilities:
Accounts receivable, net	(15,001)	(25,028)
Inventories, net	(27,930)	(11,607)
Accounts payable and accrued liabilities	(3,298)	1,756
Other current assets	(677)	1,091
Other non-current assets	0	(1)
Other long-term liabilities	179	(217)
Other, net	49	(307)
CASH USED FOR OPERATING ACTIVITIES	(39,195)	(23,941)
CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES
Proceeds from sale of short-term investments	(7,124)	(3,206)
Purchase of short-term investments	3,700	44,500
Proceeds from sale of productive assets	0	105
Capital expenditures	(4,081)	(6,454)
CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES	(7,505)	34,945
CASH USED FOR FINANCING ACTIVITIES
Debt issuance costs paid	0	(57)
Dividends paid	(1,384)	(989)
Purchases of treasury stock	(707)	(675)
CASH USED FOR FINANCING ACTIVITIES	(2,091)	(1,721)
Effect of foreign currency rate changes on cash	(1,010)	(87)
(Decrease) increase in cash and cash equivalents	(49,801)	9,196
CASH AND CASH EQUIVALENTS
Beginning of period	121,877	63,810
End of period	72,076	73,006
Supplemental Disclosure:
Cash paid for taxes	247	542
Cash paid for interest	$ 31	$ 38

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Dec. 28, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The condensed consolidated financial statements included herein are unaudited. In the opinion of management, these statements contain all adjustments (consisting of only normal recurring items) necessary to present fairly the financial position of Johnson Outdoors Inc. and subsidiaries (collectively, the “Company”) as of December 28, 2018 and December 29, 2017 , and their results of operations for the three month periods then ended and cash flows for the three month periods then ended. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 28, 2018 which was filed with the Securities and Exchange Commission on December 7, 2018. Due to seasonal variations and other factors, the results of operations for the three months ended December 28, 2018 are not necessarily indicative of the results to be expected for the Company’s full 2019 fiscal year. See “Seasonality” in the Management’s Discussion and Analysis of Financial Condition and Results of Operations included elsewhere herein for additional information. The Company considers all short-term investments in interest-bearing accounts and all securities and other instruments with an original maturity of three months or less, to be equivalent to cash. Cash equivalents are stated at cost which approximates market value. Short-term investments consist of certificates of deposit with original maturities greater than three months but less than one year. All monetary amounts, other than share and per share amounts, are stated in thousands.

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE	3 Months Ended
	Dec. 28, 2018
Receivables [Abstract]
ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE Accounts receivable are stated net of allowances for doubtful accounts of $ 1,327 , $ 1,637 and $ 2,328 as of December 28, 2018 , September 28, 2018 and December 29, 2017 , respectively. The increase in net accounts receivable to $ 55,558 as of December 28, 2018 from $ 40,866 as of September 28, 2018 is attributable to the seasonal nature of the Company’s business and the resulting increases in sales volumes between periods. The determination of the allowance for doubtful accounts is based on a combination of factors. In circumstances where specific collection concerns about a receivable exist, a reserve is established to value the affected account receivable at an amount the Company believes will be collected. For all other customers, the Company recognizes allowances for doubtful accounts based on historical experience of bad debts as a percent of accounts receivable outstanding for each business segment. Uncollectible accounts are written off against the allowance for doubtful accounts after collection efforts have been exhausted. The Company typically does not require collateral on its accounts receivable.

EARNINGS PER SHARE (_EPS_)

EARNINGS PER SHARE (“EPS”)	3 Months Ended
	Dec. 28, 2018
Earnings Per Share [Abstract]
EARNINGS PER SHARE (“EPS”)	EARNINGS PER SHARE (“EPS”) Net income or loss per share of Class A common stock and Class B common stock is computed using the two-class method. Grants of restricted stock which receive non-forfeitable dividends are classified as participating securities and are required to be included as part of the basic weighted average share calculation under the two-class method. Holders of Class A common stock are entitled to cash dividends equal to 110% of all dividends declared and paid on each share of Class B common stock. The Company grants shares of unvested restricted stock in the form of Class A shares, which carry the same distribution rights as the Class A common stock described above. As such, the undistributed earnings for each period are allocated to each class of common stock based on the proportionate share of the amount of cash dividends that each such class is entitled to receive. Basic EPS Basic net income or loss per share is computed by dividing net income or loss allocated to Class A common stock and Class B common stock by the weighted-average number of shares of Class A common stock and Class B common stock outstanding, respectively. In periods with cumulative year to date net income and undistributed income, the undistributed income for each period is allocated to each class of common stock based on the proportionate share of the amount of cash dividends that each such class is entitled to receive. In periods where there is a cumulative year to date net loss or no undistributed income because distributions through dividends exceed net income, Class B shares are treated as anti-dilutive and, therefore, net losses are allocated equally on a per share basis among all participating securities. For the three month periods ended December 28, 2018 and December 29, 2017 , basic income per share for the Class A and Class B shares has been presented using the two class method and reflects the allocation of undistributed income described above. Diluted EPS Diluted net income per share is computed by dividing allocated net income by the weighted-average number of common shares outstanding, adjusted for the effect of dilutive stock options, restricted stock units (“stock units” or “units”) and non-vested restricted stock. Anti-dilutive stock options, units and non-vested stock are excluded from the calculation of diluted EPS. The computation of diluted net income per share of Class A common stock assumes that Class B common stock is converted into Class A common stock. Therefore, diluted net income per share is the same for both Class A and Class B common shares. In periods where the Company reports a net loss, the effect of anti-dilutive stock options and units is excluded and diluted loss per share is equal to basic loss per share for both classes of stock. For the three month periods ended December 28, 2018 and December 29, 2017 , diluted net income per share reflects the effect of dilutive stock units and assumes the conversion of Class B common stock into Class A common stock. Non-vested stock that could potentially dilute earnings per share in the future which were not included in the fully diluted computation because they would have been anti-dilutive totaled 38,562 and 46,776 for the three months ended December 28, 2018 and December 29, 2017 , respectively. There were no stock units that could potentially dilute earnings per share in the future and which were not included in the fully diluted computation because they would have been anti-dilutive during either of the three month periods ended December 28, 2018 and December 29, 2017

STOCK-BASED COMPENSATION AND ST

STOCK-BASED COMPENSATION AND STOCK OWNERSHIP PLANS	3 Months Ended
	Dec. 28, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION AND STOCK OWNERSHIP PLANS	STOCK-BASED COMPENSATION AND STOCK OWNERSHIP PLANS The Company’s current stock ownership plans allow for issuance of stock options to acquire shares of Class A common stock by key executives and non-employee directors. Current plans also allow for issuance of shares of restricted stock, restricted stock units or stock appreciation rights in lieu of stock options. Under the Company’s 2010 Long-Term Stock Incentive Plan and the 2012 Non-Employee Director Stock Ownership Plan (the only two plans where shares remain available for future equity incentive awards) there were a total of 539,703 shares of the Company’s Class A common stock available for future grant to key executives and non-employee directors at December 28, 2018 . Non-vested Stock All shares of non-vested stock awarded by the Company have been granted in the form of shares of Class A common stock at their fair market value on the date of grant and vest within four years after the grant date. The fair value at date of grant is based on the number of shares granted and the average of the Company’s high and low Class A common stock price on the date of grant or, if the Company’s Class A shares did not trade on the date of grant, the average of the Company’s high and low Class A common stock price on the last preceding date on which the Company’s Class A shares traded. A summary of non-vested stock activity for the three months ended December 28, 2018 related to the Company’s stock ownership plans is as follows: Shares Weighted Average Grant Price Non-vested stock at September 28, 2018 46,776 $ 36.37 Non-vested stock grants 9,030 71.42 Restricted stock vested (17,244 ) 30.05 Non-vested stock at December 28, 2018 38,562 47.41 Non-vested stock grantees may elect to reimburse the Company for withholding taxes due as a result of the vesting of shares by tendering a portion of the vested shares back to the Company. Shares tendered back to the Company were 3,381 and 9,377 during the three month periods ended December 28, 2018 and December 29, 2017 , respectively. Stock compensation expense, net of forfeitures, related to non-vested stock was $ 116 and $ 182 for the three month periods ended December 28, 2018 and December 29, 2017 , respectively. Unrecognized compensation cost related to non-vested stock as of December 28, 2018 was $ 1,346 , which amount will be amortized to expense through November 2022 or adjusted for changes in future estimated or actual forfeitures. The fair value of restricted stock vested during the three month periods ended December 28, 2018 and December 29, 2017 was $ 1,237 and $ 3,948 , respectively. Restricted Stock Units All restricted stock units (RSUs) awarded by the Company have been granted in the form of units payable in shares of Class A common stock upon vesting. The units are valued at the fair market value of a share of Class A common stock on the date of grant and vest within one year from the date of grant for RSUs granted to directors and three years from the date of grant for RSUs granted to employees. The fair value at the date of grant is based on the number of units granted and the average of the Company’s high and low Class A common stock trading price on the date of grant or, if the Company’s Class A shares did not trade on the date of grant, the average of the Company’s high and low Class A common stock trading price on the last preceding date on which the Company’s Class A shares traded. A summary of RSU activity for the three months ended December 28, 2018 follows: Number of RSUs Weighted Average Grant Price RSUs at September 28, 2018 79,579 $ 44.06 RSUs granted 22,192 71.42 RSUs vested (32,031 ) 24.16 RSUs at December 28, 2018 69,740 61.91 Stock compensation expense, net of forfeitures, related to RSUs was $ 402 and $ 345 for the three months ended December 28, 2018 and December 29, 2017 , respectively. Unrecognized compensation cost related to non-vested RSUs as of December 28, 2018 was $ 2,838 , which amount will be amortized to expense through September 2021 or adjusted for changes in future estimated or actual forfeitures. RSU grantees may elect to reimburse the Company for withholding taxes due as a result of the vesting of units and issuance of unrestricted shares of Class A common stock by tendering a portion of such unrestricted shares back to the Company. Shares tendered back to the Company were 6,509 and 0 during the three month periods ended December 28, 2018 and December 29, 2017 , respectively. The fair value of RSUs vested during the three month periods ended December 28, 2018 and December 29, 2017 was $2,944 and $415 , respectively. Compensation expense related to units earned by employees (as opposed to grants to outside directors) is based upon the attainment of certain Company financial goals related to cumulative net sales and cumulative operating profit over a three -year performance period. Awards are only paid if at least 80% of the target levels are met and maximum payouts are made if 120% or more of target levels are achieved. The payouts for achievement at the threshold levels of performance are equal to 50% of the target award amount. The payouts for achievement at maximum levels of performance are equal to 150% of the target award amount. To the extent earned, awards are issued in shares of Company Class A common stock after the end of the three -year performance period. Employees’ Stock Purchase Plan The Company’s shareholders have adopted the Johnson Outdoors Inc. 2009 Employees’ Stock Purchase Plan, which was most recently amended on March 2, 2017, and which provides for the issuance of shares of Class A common stock at a purchase price of not less than 85% of the fair market value of such shares on the date of grant or on the date of purchase, whichever is lower. During the three month period ended December 28, 2018 , the Company issued no shares of Class A common stock and recognized $ 16 of expense in connection with the Employees' Stock Purchase Plan. During the three month period ended December 29, 2017 , the Company issued no shares of Class A common stock and recognized $10 in connection with the Plan.

PENSION PLANS

PENSION PLANS	3 Months Ended
	Dec. 28, 2018
Retirement Benefits [Abstract]
PENSION PLANS	PENSION PLANS The Company has non-contributory defined benefit pension plans covering certain of its U.S. employees. Retirement benefits are generally provided based on the employees’ years of service and average earnings. Normal retirement age is 65, with provisions for earlier retirement. The Company made contributions of $ 45 and $ 48 to its pension plans for the three months ended December 28, 2018 and December 29, 2017 , respectively. The components of net periodic benefit cost related to Company sponsored defined benefit plans for the three month periods ended December 28, 2018 and December 29, 2017 were as follows: Three Months Ended December 28, 2018 December 29, 2017 Components of net periodic benefit cost: Service cost $ — $ — Interest on projected benefit obligation 265 261 Less estimated return on plan assets 191 298 Amortization of unrecognized losses 138 182 Net periodic benefit cost $ 212 $ 145

INCOME TAXES

INCOME TAXES	3 Months Ended
	Dec. 28, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES For the three months ended December 28, 2018 and December 29, 2017 , the Company’s earnings before income taxes, income tax expense and effective income tax rate were as follows: Three Months Ended (thousands, except tax rate data) December 28, 2018 December 29, 2017 Profit (loss) before income taxes $ 4,331 $ 8,324 Income tax expense 810 8,089 Effective income tax rate 18.7 % 97.2 % The effective tax rate for the three months ended December 28, 2018 was lower than the prior year period primarily due to the impact of the $6,763 provisional tax expense generated by the enactment of comprehensive tax legislation generally referred to as the Tax Cuts and Jobs Act of 2017 (the "Tax Act") in the first quarter of fiscal 2018. Also, the Company recorded a tax benefit of $524 and $433 during the three month periods ended December 28, 2018 and December 29, 2017 , respectively, related to equity compensation. On December 22, 2017 , the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Act. Shortly after the Tax Act was enacted, the SEC issued accounting guidance, SAB 118, which provided a one-year measurement period during which a company may complete its accounting for the impacts of the Tax Act. During the three months ended December 28, 2018, the Company completed the analysis of the various provisions of the Tax Act and recognized immaterial adjustments to the provisional amounts. The Company included these adjustments within income tax expense from continuing operations. The Tax Act created a new requirement that certain income (commonly referred to as "GILTI") earned by controlled foreign corporations (CFC’s) must be included currently in the gross income of the CFC’s U.S. shareholder. Under U.S. GAAP, we are allowed to make an accounting policy choice of either (1) treating taxes due on U.S. inclusions in taxable income related to GILTI as a current period expense when incurred (the “period cost method”) or (2) factoring such amounts into the Company’s measurement of its deferred taxes (the “deferred method”). Our selection of an accounting policy of the new GILTI tax rules will depend on analyzing our global income to determine whether we expect to have future U.S. inclusions in taxable income related to GILTI and, if so, what the impact is expected to be. The Company has included an estimate of the GILTI tax in the Company’s annualized effective tax rate used to determine tax expense for the three months ended December 28, 2018 . However, we have not yet made a policy choice regarding whether to record deferred taxes on GILTI. Prior to the Tax Act, our practice and intention was to reinvest the earnings in our non-U.S. subsidiaries, and no U.S. deferred income taxes or foreign withholding taxes were recorded. The transition tax noted above resulted in the previously untaxed foreign earnings being included in fiscal 2018 taxable income. We are currently analyzing our global working capital requirements and the potential tax liabilities that would be incurred if the non-U.S. subsidiaries distribute cash to the U.S. parent, which may include withholding taxes, local country taxes and potential U.S. state taxation. For these reasons, we are not yet able to reasonably estimate the effect of this provision of the Tax Act and have not recorded any withholding or state tax liabilities, any deferred taxes attributable to GILTI (as noted above) or any deferred taxes attributable to our investment in our foreign subsidiaries. The impact of the Company’s operations in jurisdictions where a valuation allowance is assessed, primarily in the foreign locations, is removed from the overall effective tax rate methodology and recorded directly based on year to date results for the year for which no tax expense or benefit can be recognized. The tax jurisdictions that have a valuation allowance for the periods ended December 28, 2018 and December 29, 2017 were: December 28, 2018 December 29, 2017 Australia Australia Austria France France Indonesia Indonesia Japan Netherlands Netherlands New Zealand New Zealand Spain Spain Switzerland The Company regularly assesses the adequacy of its provisions for income tax contingencies in accordance with the applicable authoritative guidance on accounting for income taxes. As a result, the Company may adjust the reserves for unrecognized tax benefits due to the impact of changes in its assumptions or as a result of new facts and developments, such as changes to interpretations of relevant tax law, assessments from taxing authorities, settlements with taxing authorities and lapses of statutes of limitation. The Company’s 2019 fiscal year tax expense is anticipated to be unchanged related to uncertain income tax positions. In accordance with its accounting policy, the Company recognizes accrued interest and penalties related to unrecognized benefits as a component of income tax expense. The Company is projecting accrued interest of $ 200 related to uncertain income tax positions for the fiscal year ending September 27, 2019 . The Company files income tax returns, including returns for its subsidiaries, with federal, state, local and foreign taxing jurisdictions. The Company is currently undergoing income tax examinations in Germany and Italy. As of the date of this report, the following tax years remain open to examination by the respective tax jurisdictions: Jurisdiction Fiscal Years United States 2015-2018 Canada 2014-2018 France 2015-2018 Germany 2014-2018 Italy 2013-2018 Switzerland 2008-2018

INVENTORIES

INVENTORIES	3 Months Ended
	Dec. 28, 2018
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories at the end of the respective periods consisted of the following: December 28, September 28, 2018 December 29, Raw materials $ 54,527 $ 40,375 $ 39,810 Work in process 328 39 91 Finished goods 61,423 48,450 50,960 $ 116,278 $ 88,864 $ 90,861

GOODWILL

GOODWILL	3 Months Ended
	Dec. 28, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL The changes in goodwill during the three months ended December 28, 2018 and December 29, 2017 were as follows: December 28, 2018 December 29, 2017 Balance at beginning of period $ 11,199 $ 11,238 Amount attributable to movements in foreign currency rates (35 ) (10 ) Balance at end of period $ 11,164 $ 11,228 The Company evaluates the carrying value of goodwill for a reporting unit on an annual basis or more frequently when events and circumstances warrant such an evaluation. In conducting this analysis, the Company uses the income approach to compare the reporting unit's carrying value to its indicated fair value. Fair value is determined primarily by using a discounted cash flow methodology that requires considerable management judgment and long-term assumptions and is considered a Level 3 (unobservable) fair value determination in the fair value hierarchy (see Note 13) below.

WARRANTIES

WARRANTIES	3 Months Ended
	Dec. 28, 2018
Product Warranties Disclosures [Abstract]
WARRANTIES	WARRANTIES The Company provides warranties on certain of its products as they are sold. The following table summarizes the Company’s warranty activity for the three months ended December 28, 2018 and December 29, 2017 . December 28, 2018 December 29, 2017 Balance at beginning of period $ 8,499 $ 6,393 Expense accruals for warranties issued during the period 2,195 2,490 Less current period warranty claims paid 1,673 1,475 Balance at end of period $ 9,021 $ 7,408

CONTINGENCIES

CONTINGENCIES	3 Months Ended
	Dec. 28, 2018
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES The Company is subject to various legal actions and proceedings in the normal course of business, including those related to commercial disputes, product liability, intellectual property and regulatory matters. The Company is insured against loss for certain of these matters. Although litigation is subject to many uncertainties and the ultimate exposure with respect to these matters cannot be ascertained, management does not believe the final outcome of any pending litigation will have a material adverse effect on the financial condition, results of operations, liquidity or cash flows of the Company.

INDEBTEDNESS

INDEBTEDNESS	3 Months Ended
	Dec. 28, 2018
Debt Disclosure [Abstract]
INDEBTEDNESS	INDEBTEDNESS The Company had no debt at December 28, 2018 , September 28, 2018 , or December 29, 2017 . Revolvers During the three months ended December 29, 2017, the Company and certain of its subsidiaries entered into a new unsecured credit facility with PNC Bank National Association and Associated Bank, N.A. ("the Lending Group"). This credit facility replaced the Company's previous revolving credit agreement dated September 16, 2013 and consists of an Amended and Restated Credit Agreement dated November 15, 2017 among the Company, certain of the Company’s subsidiaries, PNC Bank National Association, as lender and as administrative agent, and the other lender named therein (the “Credit Agreement” or “Revolver”). The Revolver has an expiration date of November 15, 2022 and provides for borrowing of up to an aggregate principal amount not to exceed $ 75,000 with a $50,000 accordion feature that gives the Company the option to increase the maximum financing availability (i.e., an aggregate borrowing amount of $125,000 ) subject to the conditions of the Credit Agreement and subject to the approval of the lenders. The interest rate on the Revolver is based on LIBOR plus an applicable margin, which margin resets each quarter. The applicable margin ranges from 1.00% to 1.75% and is dependent on the Company’s leverage ratio for the trailing twelve month period. The interest rates on the Revolver at December 28, 2018 and December 29, 2017 were approximately 3.5% and 2.5% , respectively. The Credit Agreement restricts the Company's ability to incur additional debt, includes maximum leverage ratio and minimum interest coverage ratio covenants and is unsecured. Other Borrowings The Company had no unsecured revolving credit facilities at its foreign subsidiaries as of December 28, 2018 or December 29, 2017 . The Company utilizes letters of credit primarily as security for the payment of future claims under its workers’ compensation insurance, which totaled approximately $ 279 at each of December 28, 2018 and December 29, 2017 .

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	3 Months Ended
	Dec. 28, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES The following disclosures describe the Company’s objectives in using derivative instruments, the business purpose or context for using derivative instruments, and how the Company believes the use of derivative instruments helps achieve the stated objectives. In addition, the following disclosures describe the effects of the Company’s use of derivative instruments and hedging activities on its financial statements. Foreign Exchange Risk The Company has significant foreign operations, for which the functional currencies are denominated primarily in euros, Swiss francs, Hong Kong dollars and Canadian dollars. As the values of the currencies of the foreign countries in which the Company has operations increase or decrease relative to the U.S. dollar, the sales, expenses, profits, losses, assets and liabilities of the Company’s foreign operations, as reported in the Company’s consolidated financial statements, increase or decrease, accordingly. Approximately 13% of the Company’s revenues for the three month period ended December 28, 2018 were denominated in currencies other than the U.S. dollar. Approximately 7% were denominated in euros, approximately 3% were denominated in Canadian dollars and approximately 2% were denominated in Hong Kong dollars, with the remaining revenues denominated in various other foreign currencies. Changes in foreign currency exchange rates can cause the Company to experience unexpected financial losses or cash flow needs. The Company may mitigate a portion of the fluctuations in certain foreign currencies through the use of foreign currency forward contracts. Foreign currency forward contracts enable the Company to lock in the foreign currency exchange rate to be paid or received for a fixed amount of currency at a specified date in the future. The Company may use such foreign currency forward contracts to mitigate the risk associated with changes in foreign currency exchange rates on financial instruments and known commitments, including commitments for inventory purchases, denominated in foreign currencies. As of December 28, 2018 and December 29, 2017 , the Company held no foreign currency forward contracts.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Dec. 28, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an 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. A fair value hierarchy has been established based on three levels of inputs, of which the first two are considered observable and the last unobservable. • Level 1 - Quoted prices in active markets for identical assets or liabilities. These are typically obtained from real-time quotes for transactions in active exchange markets involving identical assets or liabilities. • Level 2 - Inputs, other than quoted prices included within Level 1, which are observable for the asset or liability, either directly or indirectly. These are typically obtained from readily-available pricing sources for comparable instruments. • Level 3 - Unobservable inputs, where there is little or no market activity for the asset or liability. These inputs reflect the reporting entity’s own assumptions of the data that market participants would use in pricing the asset or liability, based on the best information available in the circumstances. The carrying amounts of cash, cash equivalents, short term investments, accounts receivable, and accounts payable approximated their fair values at December 28, 2018 , September 28, 2018 and December 29, 2017 due to the short term maturities of these instruments. When indicators of impairment are present, the Company may be required to value certain long-lived assets such as property, plant, and equipment, and other intangibles at their fair value. Valuation Techniques Rabbi Trust Assets Rabbi trust assets are classified as trading securities and are comprised of marketable debt and equity securities that are marked to fair value based on unadjusted quoted prices in active markets. The rabbi trust assets are used to fund amounts the Company owes to certain officers and other employees under the Company’s non-qualified deferred compensation plan. These assets are included in "Other assets" in the Company's Condensed Consolidated Balance Sheets, and the mark to market adjustments on the assets are recorded in “Other expense (income), net” in the accompanying Condensed Consolidated Statements of Operations. The offsetting deferred compensation liability is also reported at fair value and is included in "Other liabilities" in the Company's Condensed Consolidated Balance Sheets. Changes in the liability are recorded in "Administrative management, finance and information systems" expense in the accompanying Condensed Consolidated Statements of Operations. The following table summarizes the Company’s financial assets measured at fair value as of December 28, 2018 : Level 1 Level 2 Level 3 Total Assets: Rabbi trust assets $ 15,982 $ — $ — $ 15,982 The following table summarizes the Company’s financial assets measured at fair value as of September 28, 2018 : Level 1 Level 2 Level 3 Total Assets: Rabbi trust assets $ 17,477 $ — $ — $ 17,477 The following table summarizes the Company’s financial assets measured at fair value as of December 29, 2017 : Level 1 Level 2 Level 3 Total Assets: Rabbi trust assets $ 16,207 $ — $ — $ 16,207 The effect of changes in the fair value of financial instruments on the accompanying Condensed Consolidated Statements of Operations for the three month periods ended December 28, 2018 and December 29, 2017 was: Three Months Ended Location of loss (income) recognized in Statement of December 28, 2018 December 29, 2017 Rabbi trust assets Other expense (income), net $ 2,277 $ (528 ) There were no assets or liabilities measured at fair value on a non-recurring basis in periods subsequent to their initial recognition for either of the three month periods ended December 28, 2018 or December 29, 2017 .

NEW ACCOUNTING PRONOUNCEMENTS

NEW ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Dec. 28, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
NEW ACCOUNTING PRONOUNCEMENTS	NEW ACCOUNTING PRONOUNCEMENTS Recently adopted accounting pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) , which supersedes existing revenue recognition requirements and provides a new comprehensive revenue recognition model. The underlying principle of the new standard requires entities to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects what it expects to receive in exchange for those goods or services. The Company adopted the provisions of this ASU on September 29, 2018 for all contracts on a modified retrospective basis, with no cumulative-effect adjustment to retained earnings upon adoption. The comparative information has not been restated and continues to be reported under the accounting standards that were in effect for those periods. The additional disclosures required by the ASU are include in Note 15 "Revenues" of these Notes to Condensed Consolidated Financial Statements. Recently issued accounting pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842 ). In July 2018, the FASB also issued ASU 2018-10 Codification Improvements to Topic 842, Leases and ASU 2018-11 Leases (Topic 842) Targeted Improvements. The amendments in this update will increase the transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. This guidance is effective for the Company in the first quarter of fiscal year 2020, and may be applied through a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements with certain practical expedients available. An entity may apply the new leases standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Company is currently evaluating the effect of this standard on its consolidated financial statements. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income - Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (Topic 220) , which allows for a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act of 2017. ASU No. 2018-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The ASU allows for early adoption in any interim period after issuance of the update. The Company is currently assessing the impact this ASU will have on its consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, Changes to the Disclosure Requirements for Defined Benefit Plans (Topic 715) , which modifies the disclosure requirements for employers that sponsor defined pension or postretirement plans. The amendments in this guidance are effective for fiscal years ending after December 15, 2020, with early adoption permitted. The Company is currently evaluating the potential impact of this guidance on its disclosures.

REVENUES

REVENUES	3 Months Ended
	Dec. 28, 2018
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES Adoption of Topic 606 On September 29, 2018, the Company adopted ASU 2014-09 and all subsequent ASUs that modified Topic 606. The adoption of the new revenue standard did not have a material impact on the Company's consolidated financial statements, and the timing and amount of its revenue recognition remained substantially unchanged under this new guidance. Revenue recognition Revenue is recognized when obligations under the terms of a contract with our customer are satisfied; generally this occurs with the transfer of control of our goods at a point in time based on shipping terms and transfer of title. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods. For all contracts with customers, the Company has not adjusted the promised amount of consideration for the effects of a significant financing component as the period between the transfer of the promised goods and the customer's payment is expected to be one year or less. Sales are made on normal and customary short-term credit terms or upon delivery of point of sale transactions. Sales, value add, and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. The Company enters into contractual arrangements with customers in the form of individual customer orders which specify the goods, quantity, pricing, and associated order terms. The Company does not have long-term contracts which are satisfied over time. Due to the nature of these contracts, no significant judgment exists in relation to the identification of the customer contract, satisfaction of the performance obligation, or transaction price. The Company expenses incremental costs of obtaining a contract due to the short-term nature of the contracts. Estimated costs of returns, allowances and discounts, based on historic experience, are accrued as a reduction to sales when revenue is recognized. Additionally, the Company records an other current asset for inventory which it expects to be returned with a corresponding reduction of cost of goods sold. The Company also offers assurance-type warranties relating to its products sold to end customers that continue to be accounted for under ASC 460 Guarantees. The Company generally accounts for shipping and handling activities as a fulfillment activity, consistent with the timing of revenue recognition; that is, when a customer takes control of the transferred goods. In the event that a customer were to take control of a product prior to shipment, the Company made an accounting policy election to treat such shipping and handling activities as a fulfillment cost. Shipping and handling fees billed to customers are included in "Net Sales," and shipping and handling costs are recognized within "Marketing and selling expenses" in the same period the related revenue is recognized. The Company has a wide variety of seasonal, outdoor recreation products used primarily for fishing from a boat, diving, paddling, hiking and camping, that are sold to a variety of customers in multiple end markets. While there are multiple products sold, the nature of products are similar in terms of the nature of the revenue recognition policies.

SEGMENTS OF BUSINESS

SEGMENTS OF BUSINESS	3 Months Ended
	Dec. 28, 2018
Segment Reporting [Abstract]
SEGMENTS OF BUSINESS	SEGMENTS OF BUSINESS The Company conducts its worldwide operations through separate business segments, each of which represents major product lines. Operations are conducted in the United States and various foreign countries, primarily in Europe, Canada and the Pacific Basin. During the three month period ended December 28, 2018 , two customers of the Company's Fishing, Camping and Watercraft Recreation segments each exceeded 10% of total net sales. The combined net sales to these two customers represented approximately $31,876 of the Company's consolidated revenues during the first fiscal quarter of 2019. During the three month period ended December 29, 2017 , one customer represented approximately $18,826 of the Company's consolidated revenues. Net sales and operating profit include both sales to customers, as reported in the Company’s accompanying Condensed Consolidated Statements of Operations, and interunit transfers, which are priced to recover cost plus an appropriate profit margin. Total assets represent assets that are used in the Company’s operations in each business segment at the end of the periods presented. A summary of the Company’s operations by business segment is presented below: Three Months Ended December 28, 2018 December 29, 2017 September 28, 2018 Net sales: Fishing: Unaffiliated customers $ 78,707 $ 88,845 Interunit transfers 90 62 Camping: Unaffiliated customers 5,814 5,837 Interunit transfers 6 9 Watercraft Recreation: Unaffiliated customers 4,319 4,349 Interunit transfers 6 8 Diving Unaffiliated customers 15,529 17,433 Interunit transfers 9 5 Other / Corporate 70 115 Eliminations (110 ) (84 ) Total $ 104,440 $ 116,579 Operating profit (loss): Fishing $ 11,422 $ 14,065 Camping (686 ) (724 ) Watercraft Recreation (1,492 ) (1,144 ) Diving (707 ) (385 ) Other / Corporate (2,559 ) (4,775 ) $ 5,978 $ 7,037 Total assets (end of period): Fishing $ 174,412 $ 161,135 $ 135,808 Camping 31,788 29,082 32,728 Watercraft Recreation 19,218 21,562 16,994 Diving 54,597 59,189 56,498 Other / Corporate 111,099 84,165 153,908 $ 391,114 $ 355,133 $ 395,936 1

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	3 Months Ended
	Dec. 28, 2018
Stockholders' Equity Note [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The changes in Accumulated Other Comprehensive Income (“AOCI”) by component, net of tax, for the three months ended December 28, 2018 were as follows: Foreign Currency Translation Adjustment Unamortized Loss on Defined Benefit Pension Plans Accumulated Other Comprehensive Income (Loss) Balance at September 28, 2018 $ 7,796 $ (4,309 ) $ 3,487 Other comprehensive loss before reclassifications (1,700 ) — (1,700 ) Amounts reclassified from accumulated other comprehensive income — 138 138 Tax effects — (33 ) (33 ) Balance at December 28, 2018 $ 6,096 $ (4,204 ) $ 1,892 The changes in AOCI by component, net of tax, for the three months ended December 29, 2017 were as follows: Foreign Currency Translation Adjustment Unamortized Loss on Defined Benefit Pension Plans Accumulated Other Comprehensive Income (Loss) Balance at September 29, 2017 $ 11,179 $ (6,186 ) $ 4,993 Other comprehensive loss before reclassifications (276 ) — (276 ) Amounts reclassified from accumulated other comprehensive income — 183 183 Tax effects — (44 ) (44 ) Balance at December 29, 2017 $ 10,903 $ (6,047 ) $ 4,856 The reclassifications out of AOCI for the three months ended December 28, 2018 were as follows: Statement of Operations Presentation Unamortized loss on defined benefit pension plans: Amortization of loss $ 138 Other income and expense Tax effects (33 ) Income tax expense Total reclassifications for the period $ 105 The reclassifications out of AOCI for the three months ended December 29, 2017 were as follows: Statement of Operations Presentation Unamortized loss on defined benefit pension plans: Amortization of loss $ 183 Other income and expense Tax effects (44 ) Income tax expense Total reclassifications for the period $ 139

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
	Dec. 28, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The condensed consolidated financial statements included herein are unaudited. In the opinion of management, these statements contain all adjustments (consisting of only normal recurring items) necessary to present fairly the financial position of Johnson Outdoors Inc. and subsidiaries (collectively, the “Company”) as of December 28, 2018 and December 29, 2017 , and their results of operations for the three month periods then ended and cash flows for the three month periods then ended. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 28, 2018 which was filed with the Securities and Exchange Commission on December 7, 2018. Due to seasonal variations and other factors, the results of operations for the three months ended December 28, 2018 are not necessarily indicative of the results to be expected for the Company’s full 2019 fiscal year. See “Seasonality” in the Management’s Discussion and Analysis of Financial Condition and Results of Operations included elsewhere herein for additional information. The Company considers all short-term investments in interest-bearing accounts and all securities and other instruments with an original maturity of three months or less, to be equivalent to cash. Cash equivalents are stated at cost which approximates market value. Short-term investments consist of certificates of deposit with original maturities greater than three months but less than one year. All monetary amounts, other than share and per share amounts, are stated in thousands.
New Accounting Pronouncements	Recently adopted accounting pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) , which supersedes existing revenue recognition requirements and provides a new comprehensive revenue recognition model. The underlying principle of the new standard requires entities to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects what it expects to receive in exchange for those goods or services. The Company adopted the provisions of this ASU on September 29, 2018 for all contracts on a modified retrospective basis, with no cumulative-effect adjustment to retained earnings upon adoption. The comparative information has not been restated and continues to be reported under the accounting standards that were in effect for those periods. The additional disclosures required by the ASU are include in Note 15 "Revenues" of these Notes to Condensed Consolidated Financial Statements. Recently issued accounting pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842 ). In July 2018, the FASB also issued ASU 2018-10 Codification Improvements to Topic 842, Leases and ASU 2018-11 Leases (Topic 842) Targeted Improvements. The amendments in this update will increase the transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. This guidance is effective for the Company in the first quarter of fiscal year 2020, and may be applied through a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements with certain practical expedients available. An entity may apply the new leases standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Company is currently evaluating the effect of this standard on its consolidated financial statements. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income - Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (Topic 220) , which allows for a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act of 2017. ASU No. 2018-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The ASU allows for early adoption in any interim period after issuance of the update. The Company is currently assessing the impact this ASU will have on its consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, Changes to the Disclosure Requirements for Defined Benefit Plans (Topic 715) , which modifies the disclosure requirements for employers that sponsor defined pension or postretirement plans. The amendments in this guidance are effective for fiscal years ending after December 15, 2020, with early adoption permitted. The Company is currently evaluating the potential impact of this guidance on its disclosures.
Revenue Recognition	Revenue recognition Revenue is recognized when obligations under the terms of a contract with our customer are satisfied; generally this occurs with the transfer of control of our goods at a point in time based on shipping terms and transfer of title. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods. For all contracts with customers, the Company has not adjusted the promised amount of consideration for the effects of a significant financing component as the period between the transfer of the promised goods and the customer's payment is expected to be one year or less. Sales are made on normal and customary short-term credit terms or upon delivery of point of sale transactions. Sales, value add, and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. The Company enters into contractual arrangements with customers in the form of individual customer orders which specify the goods, quantity, pricing, and associated order terms. The Company does not have long-term contracts which are satisfied over time. Due to the nature of these contracts, no significant judgment exists in relation to the identification of the customer contract, satisfaction of the performance obligation, or transaction price. The Company expenses incremental costs of obtaining a contract due to the short-term nature of the contracts. Estimated costs of returns, allowances and discounts, based on historic experience, are accrued as a reduction to sales when revenue is recognized. Additionally, the Company records an other current asset for inventory which it expects to be returned with a corresponding reduction of cost of goods sold. The Company also offers assurance-type warranties relating to its products sold to end customers that continue to be accounted for under ASC 460 Guarantees. The Company generally accounts for shipping and handling activities as a fulfillment activity, consistent with the timing of revenue recognition; that is, when a customer takes control of the transferred goods. In the event that a customer were to take control of a product prior to shipment, the Company made an accounting policy election to treat such shipping and handling activities as a fulfillment cost. Shipping and handling fees billed to customers are included in "Net Sales," and shipping and handling costs are recognized within "Marketing and selling expenses" in the same period the related revenue is recognized. The Company has a wide variety of seasonal, outdoor recreation products used primarily for fishing from a boat, diving, paddling, hiking and camping, that are sold to a variety of customers in multiple end markets. While there are multiple products sold, the nature of products are similar in terms of the nature of the revenue recognition policies.

STOCK-BASED COMPENSATION AND _2

STOCK-BASED COMPENSATION AND STOCK OWNERSHIP PLANS (Tables)	3 Months Ended
	Dec. 28, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Non-Vested Stock Activity	A summary of non-vested stock activity for the three months ended December 28, 2018 related to the Company’s stock ownership plans is as follows: Shares Weighted Average Grant Price Non-vested stock at September 28, 2018 46,776 $ 36.37 Non-vested stock grants 9,030 71.42 Restricted stock vested (17,244 ) 30.05 Non-vested stock at December 28, 2018 38,562 47.41
Schedule of RSU Activity	A summary of RSU activity for the three months ended December 28, 2018 follows: Number of RSUs Weighted Average Grant Price RSUs at September 28, 2018 79,579 $ 44.06 RSUs granted 22,192 71.42 RSUs vested (32,031 ) 24.16 RSUs at December 28, 2018 69,740 61.91

PENSION PLANS (Tables)

PENSION PLANS (Tables)	3 Months Ended
	Dec. 28, 2018
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	The components of net periodic benefit cost related to Company sponsored defined benefit plans for the three month periods ended December 28, 2018 and December 29, 2017 were as follows: Three Months Ended December 28, 2018 December 29, 2017 Components of net periodic benefit cost: Service cost $ — $ — Interest on projected benefit obligation 265 261 Less estimated return on plan assets 191 298 Amortization of unrecognized losses 138 182 Net periodic benefit cost $ 212 $ 145

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Dec. 28, 2018
Income Tax Disclosure [Abstract]
Summary of Earnings Before Income Taxes, Income Tax Expense and Effective Income Tax Rate	For the three months ended December 28, 2018 and December 29, 2017 , the Company’s earnings before income taxes, income tax expense and effective income tax rate were as follows: Three Months Ended (thousands, except tax rate data) December 28, 2018 December 29, 2017 Profit (loss) before income taxes $ 4,331 $ 8,324 Income tax expense 810 8,089 Effective income tax rate 18.7 % 97.2 %
Summary of Tax Jurisdictions of Entities with Valuation Allowances	The tax jurisdictions that have a valuation allowance for the periods ended December 28, 2018 and December 29, 2017 were: December 28, 2018 December 29, 2017 Australia Australia Austria France France Indonesia Indonesia Japan Netherlands Netherlands New Zealand New Zealand Spain Spain Switzerland
Summary of Income Tax Examinations	As of the date of this report, the following tax years remain open to examination by the respective tax jurisdictions: Jurisdiction Fiscal Years United States 2015-2018 Canada 2014-2018 France 2015-2018 Germany 2014-2018 Italy 2013-2018 Switzerland 2008-2018

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Dec. 28, 2018
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories at the end of the respective periods consisted of the following: December 28, September 28, 2018 December 29, Raw materials $ 54,527 $ 40,375 $ 39,810 Work in process 328 39 91 Finished goods 61,423 48,450 50,960 $ 116,278 $ 88,864 $ 90,861

GOODWILL (Tables)

GOODWILL (Tables)	3 Months Ended
	Dec. 28, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in goodwill during the three months ended December 28, 2018 and December 29, 2017 were as follows: December 28, 2018 December 29, 2017 Balance at beginning of period $ 11,199 $ 11,238 Amount attributable to movements in foreign currency rates (35 ) (10 ) Balance at end of period $ 11,164 $ 11,228

WARRANTIES (Tables)

WARRANTIES (Tables)	3 Months Ended
	Dec. 28, 2018
Product Warranties Disclosures [Abstract]
Summary of Warranty Activity	The following table summarizes the Company’s warranty activity for the three months ended December 28, 2018 and December 29, 2017 . December 28, 2018 December 29, 2017 Balance at beginning of period $ 8,499 $ 6,393 Expense accruals for warranties issued during the period 2,195 2,490 Less current period warranty claims paid 1,673 1,475 Balance at end of period $ 9,021 $ 7,408

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Dec. 28, 2018
Fair Value Disclosures [Abstract]
Summary of Financial Assets Measured at Fair Value	The following table summarizes the Company’s financial assets measured at fair value as of December 28, 2018 : Level 1 Level 2 Level 3 Total Assets: Rabbi trust assets $ 15,982 $ — $ — $ 15,982 The following table summarizes the Company’s financial assets measured at fair value as of September 28, 2018 : Level 1 Level 2 Level 3 Total Assets: Rabbi trust assets $ 17,477 $ — $ — $ 17,477 The following table summarizes the Company’s financial assets measured at fair value as of December 29, 2017 : Level 1 Level 2 Level 3 Total Assets: Rabbi trust assets $ 16,207 $ — $ — $ 16,207
Effect of Changes in the Fair Value of Financial Instruments	The effect of changes in the fair value of financial instruments on the accompanying Condensed Consolidated Statements of Operations for the three month periods ended December 28, 2018 and December 29, 2017 was: Three Months Ended Location of loss (income) recognized in Statement of December 28, 2018 December 29, 2017 Rabbi trust assets Other expense (income), net $ 2,277 $ (528 )

SEGMENTS OF BUSINESS (Tables)

SEGMENTS OF BUSINESS (Tables)	3 Months Ended
	Dec. 28, 2018
Segment Reporting [Abstract]
Summary of Operations by Business Unit	A summary of the Company’s operations by business segment is presented below: Three Months Ended December 28, 2018 December 29, 2017 September 28, 2018 Net sales: Fishing: Unaffiliated customers $ 78,707 $ 88,845 Interunit transfers 90 62 Camping: Unaffiliated customers 5,814 5,837 Interunit transfers 6 9 Watercraft Recreation: Unaffiliated customers 4,319 4,349 Interunit transfers 6 8 Diving Unaffiliated customers 15,529 17,433 Interunit transfers 9 5 Other / Corporate 70 115 Eliminations (110 ) (84 ) Total $ 104,440 $ 116,579 Operating profit (loss): Fishing $ 11,422 $ 14,065 Camping (686 ) (724 ) Watercraft Recreation (1,492 ) (1,144 ) Diving (707 ) (385 ) Other / Corporate (2,559 ) (4,775 ) $ 5,978 $ 7,037 Total assets (end of period): Fishing $ 174,412 $ 161,135 $ 135,808 Camping 31,788 29,082 32,728 Watercraft Recreation 19,218 21,562 16,994 Diving 54,597 59,189 56,498 Other / Corporate 111,099 84,165 153,908 $ 391,114 $ 355,133 $ 395,936

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	3 Months Ended
	Dec. 28, 2018
Stockholders' Equity Note [Abstract]
Changes in AOCI by Component, Net of Tax	The changes in Accumulated Other Comprehensive Income (“AOCI”) by component, net of tax, for the three months ended December 28, 2018 were as follows: Foreign Currency Translation Adjustment Unamortized Loss on Defined Benefit Pension Plans Accumulated Other Comprehensive Income (Loss) Balance at September 28, 2018 $ 7,796 $ (4,309 ) $ 3,487 Other comprehensive loss before reclassifications (1,700 ) — (1,700 ) Amounts reclassified from accumulated other comprehensive income — 138 138 Tax effects — (33 ) (33 ) Balance at December 28, 2018 $ 6,096 $ (4,204 ) $ 1,892 The changes in AOCI by component, net of tax, for the three months ended December 29, 2017 were as follows: Foreign Currency Translation Adjustment Unamortized Loss on Defined Benefit Pension Plans Accumulated Other Comprehensive Income (Loss) Balance at September 29, 2017 $ 11,179 $ (6,186 ) $ 4,993 Other comprehensive loss before reclassifications (276 ) — (276 ) Amounts reclassified from accumulated other comprehensive income — 183 183 Tax effects — (44 ) (44 ) Balance at December 29, 2017 $ 10,903 $ (6,047 ) $ 4,856
Reclassifications Out of AOCI	The reclassifications out of AOCI for the three months ended December 28, 2018 were as follows: Statement of Operations Presentation Unamortized loss on defined benefit pension plans: Amortization of loss $ 138 Other income and expense Tax effects (33 ) Income tax expense Total reclassifications for the period $ 105 The reclassifications out of AOCI for the three months ended December 29, 2017 were as follows: Statement of Operations Presentation Unamortized loss on defined benefit pension plans: Amortization of loss $ 183 Other income and expense Tax effects (44 ) Income tax expense Total reclassifications for the period $ 139

ACCOUNTS RECEIVABLE (Details)

ACCOUNTS RECEIVABLE (Details) - USD ($) $ in Thousands	Dec. 28, 2018	Sep. 28, 2018	Dec. 29, 2017
Receivables [Abstract]
Allowances for doubtful accounts receivable	$ 1,327	$ 1,637	$ 2,328
Accounts receivable, net	$ 55,558	$ 40,866	$ 71,895

EARNINGS PER SHARE (_EPS_) (Det

EARNINGS PER SHARE (“EPS”) (Details) - shares	3 Months Ended
	Dec. 28, 2018	Dec. 29, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Percentage of cash dividends on Class A common stock relative to Class B common stock	110.00%
Non-Vested Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (shares)	38,562	46,776
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (shares)	0

STOCK-BASED COMPENSATION AND _3

STOCK-BASED COMPENSATION AND STOCK OWNERSHIP PLANS (Narrative) (Details) $ in Thousands	3 Months Ended
	Dec. 28, 2018USD ($)planshares	Dec. 29, 2017USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of plans with shares available for future issuance | plan	2
Shares available for grant (shares) | shares	539,703
Award performance period	3 years
Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock purchase plan shares issued (shares) | shares	0	0
Income in connection with Employee' Stock Purchase Plan	$ 16	$ 10
Non-Vested Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares tendered for tax withholding (shares) | shares	3,381	9,377
Stock-based compensation expense, net of forfeitures	$ 116	$ 182
Unrecognized stock-based compensation expense	1,346
Fair value of vested restricted stock	$ 1,237	3,948
Non-Vested Stock | Employees | Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, net of forfeitures	$ 402	$ 345
Unrecognized stock-based compensation expense	$ 2,838
Shares tendered back to company (shares) | shares	6,509	0
Fair value of vested restricted stock	$ 2,944	$ 415
Restricted Stock Units (RSUs) | Vesting Period 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Restricted Stock Units (RSUs) | Vesting Period 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Bonus achievement target level	80.00%
Bonus payout as a percentage of target award	50.00%
Employee stock purchase plan, purchase price	85.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Bonus achievement target level	120.00%
Bonus payout as a percentage of target award	150.00%

STOCK-BASED COMPENSATION AND _4

STOCK-BASED COMPENSATION AND STOCK OWNERSHIP PLANS (Schedule of Non-Vested Stock Activity) (Details) - Non-Vested Stock	3 Months Ended
	Dec. 28, 2018$ / sharesshares
Shares
Beginning Balance, shares (shares) | shares	46,776
Stock Grants, shares (shares) | shares	9,030
Stock vested, shares (shares) | shares	(17,244)
Ending Balance, shares (shares) | shares	38,562
Weighted Average Grant Price
Beginning Balance, Weighted Average Grant Price (USD per share) | $ / shares	$ 36.37
Stock grants, Weighted Average Grant Price (USD per share) | $ / shares	71.42
Stock vested, Weighted Average Grant Price (USD per share) | $ / shares	30.05
Ending Balance, Weighted Average Grant Price (USD per share) | $ / shares	$ 47.41

STOCK-BASED COMPENSATION AND _5

STOCK-BASED COMPENSATION AND STOCK OWNERSHIP PLANS (Schedule of RSU Activity) (Details) - Restricted Stock Units (RSUs)	3 Months Ended
	Dec. 28, 2018$ / sharesshares
Number of RSUs
Beginning Balance, shares (shares) | shares	79,579
Stock Grants, shares (shares) | shares	22,192
Stock vested, shares (shares) | shares	(32,031)
Ending Balance, shares (shares) | shares	69,740
Weighted Average Grant Price
Beginning Balance, Weighted Average Grant Price (USD per share) | $ / shares	$ 44.06
Stock grants, Weighted Average Grant Price (USD per share) | $ / shares	71.42
Stock vested, Weighted Average Grant Price (USD per share) | $ / shares	24.16
Ending Balance, Weighted Average Grant Price (USD per share) | $ / shares	$ 61.91

PENSION PLANS (Details)

PENSION PLANS (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2018	Dec. 29, 2017
Retirement Benefits [Abstract]
Pension plan contributions	$ 45	$ 48
Components of net periodic benefit cost:
Service cost	0	0
Interest on projected benefit obligation	265	261
Less estimated return on plan assets	191	298
Amortization of unrecognized losses	138	182
Net periodic benefit cost	$ 212	$ 145

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 28, 2018	Dec. 29, 2017	Sep. 27, 2019
Income Tax Disclosure [Abstract]
Net impacts of the enactment of the Tax Act	$ 6,763
Employee Service Share-based Compensation, Tax Benefit from Exercise of Stock Options	$ 524	$ 433
Forecast
Income Tax Contingency [Line Items]
Accrued interest related to uncertain income tax positions			$ 200

INCOME TAXES (Summary of Earnin

INCOME TAXES (Summary of Earnings Before Income Taxes, Income Tax Expense and Effective Income Tax Rate) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2018	Dec. 29, 2017
Income Tax Disclosure [Abstract]
Profit (loss) before income taxes	$ 4,331	$ 8,324
Income tax expense	$ 810	$ 8,089
Effective income tax rate	18.70%	97.20%

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Dec. 28, 2018	Sep. 28, 2018	Dec. 29, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 54,527	$ 40,375	$ 39,810
Work in process	328	39	91
Finished goods	61,423	48,450	50,960
Inventories	$ 116,278	$ 88,864	$ 90,861

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2018	Dec. 29, 2017
Goodwill [Roll Forward]
Balance at beginning of period	$ 11,199	$ 11,238
Amount attributable to movements in foreign currency rates	(35)	(10)
Balance at end of period	$ 11,164	$ 11,228

WARRANTIES (Details)

WARRANTIES (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2018	Dec. 29, 2017
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance at beginning of period	$ 8,499	$ 6,393
Expense accruals for warranties issued during the period	2,195	2,490
Less current period warranty claims paid	1,673	1,475
Balance at end of period	$ 9,021	$ 7,408

INDEBTEDNESS (Narrative) (Detai

INDEBTEDNESS (Narrative) (Details) - USD ($)	3 Months Ended
	Dec. 28, 2018	Dec. 29, 2017	Nov. 15, 2017	Sep. 29, 2017
Financial Standby Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding	$ 279,000			$ 279,000
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 125,000,000
Interest rate	3.50%	2.50%
Revolving Credit Facility | Minimum | LIBOR
Debt Instrument [Line Items]
Margin percentage	1.00%
Revolving Credit Facility | Maximum | LIBOR
Debt Instrument [Line Items]
Margin percentage	1.75%
Revolving Credit Facility | Revolvers Borrowing Capacity Standard
Debt Instrument [Line Items]
Maximum borrowing capacity			75,000,000
Accordion feature			$ 50,000,000
Unsecured Revolving Credit Facilities At Foreign Subsidiaries
Debt Instrument [Line Items]
Unsecured revolving credit facilities	$ 0	$ 0

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details) - contract	3 Months Ended
	Dec. 28, 2018	Dec. 29, 2017
Derivative [Line Items]
Percent of revenues in foreign currency	13.00%
Number of foreign currency forward contracts (in contracts)	0	0
Euro
Derivative [Line Items]
Percent of revenues in foreign currency	7.00%
Canadian Dollars
Derivative [Line Items]
Percent of revenues in foreign currency	3.00%
Hong Kong, Dollars
Derivative [Line Items]
Percent of revenues in foreign currency	2.00%
Various other currencies
Derivative [Line Items]
Percent of revenues in foreign currency	1.00%

FAIR VALUE MEASUREMENTS (Narrat

FAIR VALUE MEASUREMENTS (Narrative) (Details) - Nonrecurring - USD ($)	Dec. 28, 2018	Dec. 29, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 0	$ 0
Liabilities	$ 0	$ 0

FAIR VALUE MEASUREMENTS (Summar

FAIR VALUE MEASUREMENTS (Summary of Financial Assets) (Details) - USD ($) $ in Thousands	Dec. 28, 2018	Sep. 28, 2018	Dec. 29, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Rabbi trust assets	$ 15,982	$ 17,477	$ 16,207
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Rabbi trust assets	15,982	17,477	16,207
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Rabbi trust assets	0	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Rabbi trust assets	$ 0	$ 0	$ 0

FAIR VALUE MEASUREMENTS (Effect

FAIR VALUE MEASUREMENTS (Effect of Changes in Financial Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2018	Dec. 29, 2017
Rabbi trust assets
Fair Value, Option, Quantitative Disclosures [Line Items]
Changes in fair value, loss (income)	$ 2,277	$ (528)

SEGMENTS OF BUSINESS (Details)

SEGMENTS OF BUSINESS (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2018	Dec. 29, 2017	Sep. 28, 2018
Segment Reporting Information [Line Items]
Net sales	$ 104,440	$ 116,579
Operating profit (loss)	5,978	7,037
Total assets (end of period)	391,114	355,133	$ 395,936
Operating segments
Segment Reporting Information [Line Items]
Operating profit (loss)	(2,559)	(4,775)
Operating segments | Fishing
Segment Reporting Information [Line Items]
Net sales	78,707	88,845
Operating profit (loss)	11,422	14,065
Total assets (end of period)	174,412	161,135	135,808
Operating segments | Camping
Segment Reporting Information [Line Items]
Net sales	5,814	5,837
Operating profit (loss)	(686)	(724)
Total assets (end of period)	31,788	29,082	32,728
Operating segments | Watercraft Recreation
Segment Reporting Information [Line Items]
Net sales	4,319	4,349
Operating profit (loss)	(1,492)	(1,144)
Total assets (end of period)	19,218	21,562	16,994
Operating segments | Diving
Segment Reporting Information [Line Items]
Net sales	15,529	17,433
Operating profit (loss)	(707)	(385)
Total assets (end of period)	54,597	59,189	56,498
Operating segments | Other / Corporate
Segment Reporting Information [Line Items]
Net sales	70	115
Total assets (end of period)	111,099	84,165	$ 153,908
Interunit transfers
Segment Reporting Information [Line Items]
Net sales	(110)	(84)
Interunit transfers | Fishing
Segment Reporting Information [Line Items]
Net sales	90	62
Interunit transfers | Camping
Segment Reporting Information [Line Items]
Net sales	6	9
Interunit transfers | Watercraft Recreation
Segment Reporting Information [Line Items]
Net sales	6	8
Interunit transfers | Diving
Segment Reporting Information [Line Items]
Net sales	9	5
Two Customers
Segment Reporting Information [Line Items]
Net sales	$ 31,876
One Customer
Segment Reporting Information [Line Items]
Net sales		$ 18,826

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Changes by Component) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2018	Dec. 29, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 279,197
Other comprehensive income (loss) before reclassifications	(1,700)	$ (276)
Amounts reclassified from accumulated other comprehensive income	138	183
Tax effects	(33)	(44)
Ending balance	279,567	241,946
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	3,487	4,993
Ending balance	1,892	4,856
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	7,796	11,179
Other comprehensive income (loss) before reclassifications	(1,700)	(276)
Amounts reclassified from accumulated other comprehensive income	0	0
Tax effects	0	0
Ending balance	6,096	10,903
Unamortized Loss on Defined Benefit Pension Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(4,309)	(6,186)
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income	138	183
Tax effects	(33)	(44)
Ending balance	$ (4,204)	$ (6,047)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Reclassifications) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2018	Dec. 29, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of loss	$ 4,331	$ 8,324
Income tax expense	(810)	(8,089)
Unamortized Loss on Defined Benefit Pension Plans | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of loss	138	183
Income tax expense	(33)	(44)
Total reclassifications for the period	$ 105	$ 139