Sanmina (SANM) 10-Q 29 Jan 16 2016 Q1 Quarterly report Financial data

DEI Document

DEI Document - shares	3 Months Ended
	Jan. 02, 2016	Jan. 25, 2016
Document and entity information [Abstract]
Entity Registrant Name	SANMINA CORP
Entity Central Index Key	897,723
Document Type	10-Q
Document Period End Date	Jan. 2, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--10-01
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		77,183,780

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jan. 02, 2016	Oct. 03, 2015
Current assets:
Cash and cash equivalents	$ 398,447	$ 412,253
Accounts receivable, net of allowances of $13,470 and $13,439 as of January 2, 2016 and October 3, 2015, respectively	930,460	936,952
Inventories	896,123	918,728
Prepaid expenses and other current assets	55,409	55,047
Total current assets	2,280,439	2,322,980
Property, plant and equipment, net	585,771	590,844
Deferred tax assets	484,987	497,605
Other	80,029	81,835
Total assets	3,431,226	3,493,264
Current liabilities:
Accounts payable	1,014,031	1,035,323
Accrued liabilities	105,118	111,416
Accrued payroll and related benefits	103,306	120,402
Short-term debt, including current portion of long-term debt	89,416	113,416
Total current liabilities	1,311,871	1,380,557
Long-term liabilities:
Long-term debt	424,100	423,949
Other	168,001	168,287
Total long-term liabilities	$ 592,101	$ 592,236
Commitments and contingencies (Note 5)
Stockholders' equity	$ 1,527,254	$ 1,520,471
Total liabilities and stockholders' equity	$ 3,431,226	$ 3,493,264

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jan. 02, 2016	Oct. 03, 2015
Allowance for Doubtful Accounts	$ 13,470	$ 13,439

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jan. 02, 2016	Dec. 27, 2014
Net sales	$ 1,534,714	$ 1,671,162
Cost of sales	1,411,076	1,544,816
Gross profit	123,638	126,346
Operating expenses:
Selling, general and administrative	57,693	59,418
Research and development	9,647	8,069
Restructuring costs	553	3,000
Amortization of intangible assets	692	425
Asset impairments	1,000	1,954
Total operating expenses	69,585	72,866
Operating income	54,053	53,480
Interest income	148	289
Interest expense	(5,878)	(6,437)
Other expense, net	(218)	(1,528)
Interest and other, net	(5,948)	(7,676)
Income before income taxes	48,105	45,804
Provision for income taxes	20,967	23,148
Net income	$ 27,138	$ 22,656
Net income per share:
Basic	$ 0.35	$ 0.27
Diluted	$ 0.33	$ 0.26
Weighted average shares used in computing per share amounts:
Basic	77,921	82,548
Diluted	81,205	86,682

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Jan. 02, 2016	Dec. 27, 2014
Net income	$ 27,138	$ 22,656
Other comprehensive income (loss), net of tax:
Change in foreign currency translation adjustments	(891)	(4,860)
Derivative financial instruments:
Change in net unrealized amount	364	(1,398)
Amount reclassified into net income	(295)	1,441
Defined benefit plans:
Changes in unrecognized net actuarial loss and unrecognized transition cost	375	275
Amortization of actuarial losses and transition costs	422	336
Total other comprehensive loss	(25)	(4,206)
Comprehensive income	$ 27,113	$ 18,450

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jan. 02, 2016	Dec. 27, 2014
CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES:
Net income	$ 27,138	$ 22,656
Adjustments to reconcile net income to cash provided by (used in) operating activities:
Depreciation and amortization	25,751	24,656
Stock-based compensation expense	4,052	5,717
Deferred income taxes	12,326	10,739
Other, net	1,270	4,427
Changes in operating assets and liabilities:
Accounts receivable	5,848	3,937
Inventories	22,508	(17,036)
Prepaid expenses and other assets	429	2,794
Accounts payable	(12,557)	(55,212)
Accrued liabilities	(24,105)	(8,847)
Cash provided by (used in) operating activities	62,660	(6,169)
CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(28,910)	(28,708)
Proceeds from sales of property, plant and equipment	202	932
Cash used in investing activities	(28,708)	(27,776)
CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES:
Repayments of long-term debt	0	(105,250)
Repayments of short-term borrowings	0	(10,221)
Proceeds from revolving credit facility borrowings	770,500	617,500
Repayments of revolving credit facility borrowings	(794,500)	(557,500)
Proceeds from termination of interest rate swap	0	3,258
Net proceeds from stock issuances	4,310	10,690
Repurchases of common stock	(28,694)	0
Cash used in financing activities	(48,384)	(41,523)
Effect of exchange rate changes	626	10
Decrease in cash and cash equivalents	(13,806)	(75,458)
Cash and cash equivalents at beginning of period	412,253	466,607
Cash and cash equivalents at end of period	398,447	391,149
Cash paid during the period for:
Interest, net of capitalized interest	8,957	9,050
Income taxes, net of refunds	$ 9,339	$ 3,461

Note 1 Basis of Presentation

Note 1 Basis of Presentation	3 Months Ended
	Jan. 02, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Sanmina Corporation (the “Company”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and note disclosures normally included in annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been omitted pursuant to those rules or regulations. The interim condensed consolidated financial statements are unaudited, but reflect all adjustments, consisting only of normal recurring adjustments, that are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended October 3, 2015 , included in the Company's 2015 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 unaudited condensed consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. Results of operations for the first quarter of 2016 are not necessarily indicative of the results that may be expected for the full fiscal year. The Company operates on a 52 or 53 week year ending on the Saturday nearest September 30. Fiscal 2015 was a 53-week year, with the extra week in the fourth fiscal quarter, and fiscal 2016 will be a 52-week year. All references to years relate to fiscal years unless otherwise noted. Recent Accounting Pronouncements In September 2015, the FASB issued ASU 2015-16, "Simplifying the Accounting for Measurement-Period Adjustments (Topic 805)". This ASU requires the Company to recognize adjustments to provisional amounts identified during the measurement period in the reporting period in which the adjustments are determined. Additionally, the Company is required to disclose the amount recorded in current-period earnings that would have been recorded in previous reporting periods if the adjustment to provisional amounts had been recognized as of the acquisition date. The new standard is effective for the Company at the beginning of fiscal 2017. In July 2015, the FASB issued ASU 2015-11, "Simplifying the Measurement of Inventory (Topic 330)". This ASU requires measurement of inventory at the lower of cost and net realizable value. Net realizable value is defined as estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Currently, inventory is generally measured at the lower of cost or market, except for excess and obsolete inventories which are carried at their estimated net realizable values. This new standard is effective for the Company in fiscal 2018, including interim periods within that reporting period. The Company is currently evaluating the impact of adopting this new accounting standard. In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)," which supersedes the revenue recognition requirements in “Revenue Recognition (Topic 605).” This ASU requires an entity to recognize revenue when goods are transferred or services are provided to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also requires disclosures enabling users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The new standard is effective for the Company in fiscal 2019, including interim periods within that reporting period, using one of two prescribed transition methods. The Company is currently participating in an EMS industry forum that has been created to evaluate the impact of adoption of ASU 2014-09 on entities within such industry. The Company has not yet selected a transition method, nor has it determined the effect of the standard on its ongoing financial reporting.

Note 2 Inventories

Note 2 Inventories	3 Months Ended
	Jan. 02, 2016
Inventory, Net [Abstract]
Inventory Disclosure [Text Block]	Inventories Components of inventories were as follows: As of January 2, October 3, (In thousands) Raw materials $ 615,145 $ 624,514 Work-in-process 103,100 120,131 Finished goods 177,878 174,083 Total $ 896,123 $ 918,728

Note 3 Financial Instruments

Note 3 Financial Instruments	3 Months Ended
	Jan. 02, 2016
Financial Instruments, Owned, at Fair Value [Abstract]
Derivatives and Fair Value [Text Block]	Financial Instruments Fair Value Measurements Fair Value of Financial Instruments The fair values of cash equivalents, accounts receivable, accounts payable and short-term debt approximate carrying value due to the short term duration of these instruments. Fair Value Option for Long-term Debt As of January 2, 2016 , the aggregate carrying amount of the Company's long-term debt instruments approximated fair value as estimated based primarily on quoted prices. The Company has elected not to record its long-term debt instruments at fair value. Assets and Liabilities Measured at Fair Value on a Recurring Basis The Company's primary financial assets and liabilities measured at fair value on a recurring basis are deferred compensation plan assets, foreign exchange contracts, defined benefit plan assets and contingent consideration. Deferred compensation plan assets, foreign exchange contracts and contingent consideration were not material as of January 2, 2016 or October 3, 2015 . Defined benefit plan assets are measured at fair value in the fourth quarter of each year. Offsetting Derivative Assets and Liabilities The Company has entered into master netting arrangements with each of its derivative counterparties that allows net settlement of derivative assets and liabilities under certain conditions, such as multiple transactions with the same currency maturing on the same date. The Company presents its derivative assets and derivative liabilities on a gross basis on the unaudited condensed consolidated balance sheets. The amount that the Company had the right to offset under these netting arrangements was not material as of January 2, 2016 or October 3, 2015 . Derivative Instruments The Company is exposed to certain risks related to its ongoing business operations. The primary risk managed by using derivative instruments is foreign exchange rate risk. Forward contracts on various foreign currencies are used to manage foreign currency risk associated with forecasted foreign currency transactions and certain monetary assets and liabilities denominated in non-functional currencies. The Company's primary foreign currency cash flows are in certain Asian and European countries, Brazil, Israel and Mexico. The Company had the following outstanding foreign currency forward contracts that were entered into to hedge foreign currency exposures: As of January 2, 2016 October 3, 2015 Derivatives Designated as Accounting Hedges: Notional amount (in thousands) $ 83,509 $ 76,465 Number of contracts 44 41 Derivatives Not Designated as Accounting Hedges: Notional amount (in thousands) $ 261,111 $ 230,084 Number of contracts 46 46 The Company utilizes foreign currency forward contracts to hedge certain operational (“cash flow”) exposures resulting from changes in foreign currency exchange rates. Such exposures generally result from (1) forecasted sales denominated in currencies other than those used to pay for materials and labor, (2) forecasted non-functional currency labor and overhead expenses, (3) forecasted non-functional currency operating expenses, and (4) anticipated capital expenditures denominated in a currency other than the functional currency of the entity making the expenditures. These contracts are accounted for as cash flow hedges and are generally one to two months in duration but, by policy, may be up to twelve months in duration. For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative is recorded in Accumulated Other Comprehensive Income ("AOCI"), a component of equity, and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. The amount of gain (loss) recognized in Other Comprehensive Income ("OCI") on derivative instruments (effective portion), the amount of gain (loss) reclassified from AOCI into income (effective portion) and the amount of ineffectiveness were not material for any period presented herein. As of January 2, 2016 , AOCI related to foreign currency forward contracts was not material . The Company also enters into short-term foreign currency forward contracts to hedge foreign currency exposures associated with certain monetary assets and liabilities denominated in non-functional currencies. These contracts have maturities of up to two months and are not designated as accounting hedges. Accordingly, these contracts are marked-to-market at the end of each period with unrealized gains and losses recorded in other expense, net, in the unaudited condensed consolidated statements of income. The amount of gains (losses) associated with these forward contracts were not material for any period presented herein. From an economic perspective, the objective of the Company's hedging program is for gains and losses on forward contracts to substantially offset gains and losses on the underlying hedged items.

Note 4 Debt

Note 4 Debt	3 Months Ended
	Jan. 02, 2016
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Debt Long-term debt consisted of the following: As of January 2, October 3, (In thousands) Secured debt $ 40,000 $ 40,000 Senior secured notes due 2019 ("Secured Notes") 375,000 375,000 Non-interest bearing notes payable 12,516 12,365 Total long-term debt 427,516 427,365 Less: Current Portion Current portion of non-interest bearing notes payable 3,416 3,416 Long-term debt $ 424,100 $ 423,949 Short-term debt The Company has a $375 million secured revolving credit facility (the "Cash Flow Revolver") that may be increased by an additional $125 million upon obtaining additional commitments from lenders then party to the Cash Flow Revolver or new lenders. The Cash Flow Revolver expires on May 20, 2020 , but may be terminated by the lenders as early as March 4, 2019 if certain conditions exist. As of January 2, 2016 , $86.0 million of borrowings and $21.9 million of letters of credit were outstanding under the Cash Flow Revolver. As of January 2, 2016 , certain foreign subsidiaries of the Company had a total of $74.1 million of short-term borrowing facilities, under which no borrowings were outstanding. These facilities expire at various dates through the second quarter of 2017 . Debt covenants The Company's Cash Flow Revolver requires the Company to comply with certain financial covenants. Additionally, the agreement covering the Company’s $40 million debt secured by the Company’s corporate campus (the “Secured Debt”) requires the Company to comply with a financial covenant if certain conditions exist, none of which existed as of January 2, 2016 . The Company's debt agreements contain a number of restrictive covenants, restrictions on incurring additional debt, making investments and other restricted payments, selling assets, paying dividends and redeeming or repurchasing capital stock and debt, subject to certain exceptions. The Company was in compliance with these covenants as of January 2, 2016 .

Note 5 Commitments and Continge

Note 5 Commitments and Contingencies	3 Months Ended
	Jan. 02, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Commitments and Contingencies From time to time, the Company is a party to litigation, claims and other contingencies, including environmental and employee matters and examinations and investigations by governmental agencies, which arise in the ordinary course of business. The Company records a contingent liability when it is probable that a loss has been incurred and the amount of loss is reasonably estimable in accordance with ASC Topic 450, Contingencies, or other applicable accounting standards. As of January 2, 2016 and October 3, 2015 , the Company had reserves of $51.5 million and $49.2 million , respectively, for environmental matters, warranty, litigation and other contingencies (excluding reserves for uncertain tax positions) which the Company believes is adequate. However, there can be no assurance that the Company's reserves will be sufficient to settle these contingencies. Such reserves are included in accrued liabilities and other long-term liabilities on the unaudited condensed consolidated balance sheets. Legal Proceedings Environmental Matters The Company is subject to various federal, state, local and foreign laws, regulations and administrative orders concerning environmental protection, including those addressing the discharge of pollutants into the environment, the management and handling of hazardous substances, the cleanup of contaminated sites, the materials used in products, and the generation, recycling, treatment and disposal of hazardous waste. As of January 2, 2016 , the Company has been named in a lawsuit and several administrative orders alleging certain of its current and former sites contributed to groundwater contamination. A Canadian subsidiary of the Company is party to an order requiring such subsidiary to remediate certain environmental contamination at a site owned by the subsidiary between 1999 and 2006. As of January 2, 2016 , the Company believes it has reserved a sufficient amount to satisfy anticipated future remediation costs at this site. In June 2008, the Company was named by the Orange County Water District in a suit alleging that its actions contributed to polluted groundwater managed by the plaintiff. The complaint seeks recovery of compensatory and other damages, as well as declaratory relief, for the payment of costs necessary to investigate, monitor, remediate, abate and contain contamination of groundwater within the plaintiff’s control. In April 2013, all claims against the Company were dismissed. The plaintiff has appealed this dismissal and the Company expects the appeal to be heard in calendar 2016. Other Matters Two of the Company’s subsidiaries in Brazil are parties to several administrative and judicial proceedings for claims alleging that these subsidiaries failed to comply with certain bookkeeping and tax rules for certain periods between 2001 and 2010. These claims seek payment of state value-added tax and income and excise taxes allegedly owed by the subsidiaries, as well as fines. The subsidiaries believe they have meritorious positions in these matters and intend to contest the claims, although there can be no assurance that these claims will not have a material adverse effect on the Company’s results of operations in the future. Refer to Part II, Item 1 for further information regarding these matters. Other Contingencies One of the Company's most significant risks is the ultimate realization of accounts receivable and customer inventory liabilities. This risk is partially mitigated by ongoing credit evaluations of, and frequent contact with, the Company's customers, especially its most significant customers, thus enabling it to monitor changes in business operations and respond accordingly. In the first quarter of 2015, one of the Company’s customers, GT Advanced Technologies, filed a petition for reorganization under bankruptcy law. As of January 2, 2016 and October 3, 2015 , the Company's accounts receivable and inventory exposure of $12.0 million for this customer was fully reserved, including $3.9 million of reserves provided in the first quarter of 2015. Commitments - Operating Leases The Company leases certain of its facilities and equipment under non-cancellable operating leases. As of January 2, 2016 and October 3, 2015 , the Company had commitments of $79.1 million and $66.1 million , respectively, in connection with these leases.

Note 6 Income Tax Income Tax

Note 6 Income Tax Income Tax	3 Months Ended
	Jan. 02, 2016
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Income Tax The Company estimates its annual effective income tax rate at the end of each quarterly period. The estimate takes into account the geographic mix of expected pre-tax income (loss), expected total annual pre-tax income (loss), enacted changes in tax laws, implementation of tax planning strategies and possible outcomes of audits and other uncertain tax positions. To the extent there are fluctuations in any of these variables during a period, the provision for income taxes may vary. The provision for income taxes for the first quarter of 2016 and 2015 was $21.0 million and $23.1 million , respectively. The decrease in income tax expense in 2016 was primarily attributable to changes in the jurisdictional mix of where income was earned. In November 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (ASU) 2015-17, "Balance Sheet Classification of Deferred Taxes". This ASU requires deferred tax assets and liabilities to be classified as noncurrent in a classified statement of financial position. The new guidance is effective for the Company in fiscal 2018. In order to simplify the presentation of deferred taxes, the Company elected to early adopt ASU 2015-17 as of the beginning of 2016 and to apply the new standard retrospectively. The condensed consolidated balance sheet as of October 3, 2015 was adjusted accordingly, resulting in a reclassification of $74.9 million of deferred tax assets from Prepaid expenses and other current assets to Deferred tax assets (noncurrent). In 2014, a foreign tax authority completed its audit of the Company’s 2006 tax return and issued an assessment challenging certain of the Company’s tax positions. Although the Company disagreed with the assessment and vigorously contested it through the appropriate administrative procedures, the Company made a significant payment to the foreign tax authority during the quarter ended March 28, 2015 to resolve all issues related to this audit. This audit was formally closed in the first quarter of 2016, with no adjustment to the Company's income tax reserves or additional payment required.

Note 7 Stockholders' Equity

Note 7 Stockholders' Equity	3 Months Ended
	Jan. 02, 2016
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	Stockholder's Equity Accumulated Other Comprehensive Income Accumulated other comprehensive income, net of tax as applicable, consisted of the following: As of January 2, October 3, (In thousands) Foreign currency translation adjustments $ 85,739 $ 86,630 Unrealized holding losses on derivative financial instruments (614 ) (683 ) Unrecognized net actuarial loss and transition cost for benefit plans (18,579 ) (19,376 ) Total $ 66,546 $ 66,571 Stock Repurchase Program During the three months ended January 2, 2016 , the Company repurchased 1.4 million shares of its common stock for $28.7 million and, as of January 2, 2016 , $175.2 million remains available under a stock repurchase program authorized by the Company's Board of Directors in 2015. This authorization has no expiration date. No shares of common stock were repurchased during the first quarter of 2015 under programs authorized by the Company's Board of Directors. In addition to the repurchases discussed above, the Company repurchased 20,000 and 47,000 shares of its common stock during the three months ended January 2, 2016 and December 27, 2014 , respectively, in settlement of employee tax withholding obligations due upon the vesting of restricted stock units. The Company paid $0.5 million and $1.2 million , respectively, in conjunction with these repurchases.

Note 8 Acquisition

Note 8 Acquisition	3 Months Ended
	Jan. 02, 2016
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Acquisitions On January 5, 2016 , subsequent to the end of the first quarter of 2016, the Company purchased all outstanding stock of a privately-held software company for approximately $40.0 million . The acquisition is expected to enable the Company to deliver a full storage solution product to its customers. The Company is in the process of determining the fair value of assets and liabilities acquired and does not expect the acquisition to have a material effect on the Company's financial position or results of operations. On October 7, 2015 , the Company entered into a definitive agreement to purchase a manufacturing facility and related assets from a customer in the industrial end market. As part of this transaction, the Company expects to also enter into a master supply agreement for the provision of products to such customer. This transaction is expected to close in the second quarter of 2016.

Note 9 Business Segment, Geogra

Note 9 Business Segment, Geographic and Customer Information	3 Months Ended
	Jan. 02, 2016
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Business Segment, Geographic and Customer Information ASC Topic 280, Segment Reporting , establishes standards for reporting information about operating segments, products and services, geographic areas of operations and major customers. Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker or decision making group in deciding how to allocate resources and in assessing performance. The Company's operations are managed as two businesses: Integrated Manufacturing Solutions (IMS) and Components, Products and Services (CPS). The Company's CPS business consists of multiple operating segments which do not meet the quantitative threshold for being presented as reportable segments. Therefore, financial information for these operating segments is presented in a single category entitled "CPS" and the Company has only one reportable segment - IMS. The following table presents revenue and a non-GAAP measure of segment gross profit used by management to allocate resources and assess performance of operating segments: Three Months Ended January 2, December 27, (In thousands) Gross sales: IMS $ 1,239,268 $ 1,376,834 CPS 345,648 352,337 Intersegment revenue (50,202 ) (58,009 ) Net sales $ 1,534,714 $ 1,671,162 Gross profit: IMS $ 95,609 $ 100,907 CPS 30,102 31,567 Total 125,711 132,474 Unallocated items (1) (2,073 ) (6,128 ) Total $ 123,638 $ 126,346 (1) For purposes of evaluating segment performance, management excludes certain items from its measures of gross profit. These items include stock-based compensation expense, amortization of intangible assets, charges or credits resulting from distressed customers and similar items that either occur infrequently or are of a non-operational nature. Net sales by geographic segment, determined based on the country in which a product is manufactured, was as follows: Three Months Ended January 2, December 27, (In thousands) Net sales United States $ 254,379 $ 240,287 Mexico 484,970 531,454 China 367,259 412,807 Other international 428,106 486,614 Total $ 1,534,714 $ 1,671,162 Percentage of net sales represented by ten largest customers 48.2 % 50.0 % Number of customers representing 10% or more of net sales — —

Note 10 Earnings Per Share

Note 10 Earnings Per Share	3 Months Ended
	Jan. 02, 2016
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Earnings Per Share Basic and diluted per share amounts are calculated by dividing net income by the weighted average number of shares of common stock outstanding during the period, as follows: Three Months Ended January 2, December 27, (In thousands, except per share data) Numerator: Net income $ 27,138 $ 22,656 Denominator: Weighted average common shares outstanding 77,921 82,548 Effect of dilutive stock options and restricted stock units 3,284 4,134 Denominator for diluted earnings per share 81,205 86,682 Net income per share: Basic $ 0.35 $ 0.27 Diluted $ 0.33 $ 0.26 The following table presents weighted-average dilutive securities that were excluded from the above calculation because their inclusion would have had an anti-dilutive effect under ASC Topic 260, Earnings per Share , due to application of the treasury stock method: Three Months Ended January 2, December 27, (In thousands) Potentially dilutive securities: Employee stock options 779 399 Restricted stock units 2 73 Total 781 472

Note 11 Stock-Based Compensatio

Note 11 Stock-Based Compensation	3 Months Ended
	Jan. 02, 2016
Share-based Compensation [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Stock-Based Compensation Stock-based compensation expense was attributable to: Three Months Ended January 2, December 27, (In thousands) Stock options $ 1,240 $ 3,203 Restricted stock units 2,812 2,514 Total $ 4,052 $ 5,717 Stock-based compensation expense was recognized as follows: Three Months Ended January 2, December 27, (In thousands) Cost of sales $ 1,405 $ 1,576 Selling, general and administrative 2,566 4,103 Research and development 81 38 Total $ 4,052 $ 5,717 As of January 2, 2016 , an aggregate of 12.1 million shares were authorized for future issuance under the Company's stock plans, of which 10.5 million of such shares were issuable upon exercise of outstanding options and delivery of shares upon vesting of restricted stock units and 1.6 million shares of common stock were available for future grant. Stock Options Stock option activity was as follows: Number of Shares Weighted- Average Exercise Price ($) Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value of In-The-Money Options ($) (In thousands) (In thousands) Outstanding as of October 3, 2015 7,033 13.05 4.94 53,938 Granted 1 23.77 Exercised/Cancelled/Forfeited/Expired (432 ) 12.82 Outstanding as of January 2, 2016 6,602 13.06 4.72 52,710 Vested and expected to vest as of January 2, 2016 6,533 13.00 4.67 52,476 Exercisable as of January 2, 2016 5,681 12.31 4.18 48,487 The aggregate intrinsic value in the preceding table represents the total pre-tax intrinsic value of in-the-money options that would have been received by the option holders had all option holders exercised such options at the Company's closing stock price on the date indicated. As of January 2, 2016 , unrecognized compensation expense of $5.9 million is expected to be recognized over a weighted average period of 1.8 years. Restricted Stock Units Activity with respect to the Company's restricted stock units was as follows: Number of Shares Weighted- Average Grant Date Fair Value ($) Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value ($) (In thousands) (In thousands) Outstanding as of October 3, 2015 2,979 16.52 1.52 59,843 Granted 1,045 23.26 Vested/Forfeited/Cancelled (105 ) 11.78 Outstanding as of January 2, 2016 3,919 18.44 1.82 80,409 Expected to vest as of January 2, 2016 1,889 16.55 1.29 38,752 As of January 2, 2016 , unrecognized compensation expense of $17.2 million is expected to be recognized over a weighted average period of 1.3 years. Additionally, as of January 2, 2016 , unrecognized compensation expense related to performance-based restricted stock units for which achievement of the performance criteria is not considered probable was $37.8 million .

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
	Jan. 02, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting [Text Block]	The accompanying unaudited condensed consolidated financial statements of Sanmina Corporation (the “Company”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and note disclosures normally included in annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been omitted pursuant to those rules or regulations. The interim condensed consolidated financial statements are unaudited, but reflect all adjustments, consisting only of normal recurring adjustments, that are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended October 3, 2015 , included in the Company's 2015 Annual Report on Form 10-K.
Use of Estimates, Policy [Policy Text Block]	The preparation of financial statements requires management to make estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. Results of operations for the first quarter of 2016 are not necessarily indicative of the results that may be expected for the full fiscal year.
Fiscal Period, Policy [Policy Text Block]	The Company operates on a 52 or 53 week year ending on the Saturday nearest September 30. Fiscal 2015 was a 53-week year, with the extra week in the fourth fiscal quarter, and fiscal 2016 will be a 52-week year. All references to years relate to fiscal years unless otherwise noted.
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Recent Accounting Pronouncements In September 2015, the FASB issued ASU 2015-16, "Simplifying the Accounting for Measurement-Period Adjustments (Topic 805)". This ASU requires the Company to recognize adjustments to provisional amounts identified during the measurement period in the reporting period in which the adjustments are determined. Additionally, the Company is required to disclose the amount recorded in current-period earnings that would have been recorded in previous reporting periods if the adjustment to provisional amounts had been recognized as of the acquisition date. The new standard is effective for the Company at the beginning of fiscal 2017. In July 2015, the FASB issued ASU 2015-11, "Simplifying the Measurement of Inventory (Topic 330)". This ASU requires measurement of inventory at the lower of cost and net realizable value. Net realizable value is defined as estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Currently, inventory is generally measured at the lower of cost or market, except for excess and obsolete inventories which are carried at their estimated net realizable values. This new standard is effective for the Company in fiscal 2018, including interim periods within that reporting period. The Company is currently evaluating the impact of adopting this new accounting standard. In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)," which supersedes the revenue recognition requirements in “Revenue Recognition (Topic 605).” This ASU requires an entity to recognize revenue when goods are transferred or services are provided to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also requires disclosures enabling users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The new standard is effective for the Company in fiscal 2019, including interim periods within that reporting period, using one of two prescribed transition methods. The Company is currently participating in an EMS industry forum that has been created to evaluate the impact of adoption of ASU 2014-09 on entities within such industry. The Company has not yet selected a transition method, nor has it determined the effect of the standard on its ongoing financial reporting.

Note 6 Income Tax Accounting Po

Note 6 Income Tax Accounting Policy (Policies)	3 Months Ended
	Jan. 02, 2016
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	In November 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (ASU) 2015-17, "Balance Sheet Classification of Deferred Taxes". This ASU requires deferred tax assets and liabilities to be classified as noncurrent in a classified statement of financial position. The new guidance is effective for the Company in fiscal 2018. In order to simplify the presentation of deferred taxes, the Company elected to early adopt ASU 2015-17 as of the beginning of 2016 and to apply the new standard retrospectively. The condensed consolidated balance sheet as of October 3, 2015 was adjusted accordingly, resulting in a reclassification of $74.9 million of deferred tax assets from Prepaid expenses and other current assets to Deferred tax assets (noncurrent).

Note 2 Inventories (Tables)

Note 2 Inventories (Tables)	3 Months Ended
	Jan. 02, 2016
Inventory, Net [Abstract]
Schedule of Inventory, Current [Table Text Block]	As of January 2, October 3, (In thousands) Raw materials $ 615,145 $ 624,514 Work-in-process 103,100 120,131 Finished goods 177,878 174,083 Total $ 896,123 $ 918,728

Note 3 Derivative Financial Ins

Note 3 Derivative Financial Instruments (Tables)	3 Months Ended
	Jan. 02, 2016
Financial Instruments, Owned, at Fair Value [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	As of January 2, 2016 October 3, 2015 Derivatives Designated as Accounting Hedges: Notional amount (in thousands) $ 83,509 $ 76,465 Number of contracts 44 41 Derivatives Not Designated as Accounting Hedges: Notional amount (in thousands) $ 261,111 $ 230,084 Number of contracts 46 46

Note 4 Debt (Tables)

Note 4 Debt (Tables)	3 Months Ended
	Jan. 02, 2016
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]	As of January 2, October 3, (In thousands) Secured debt $ 40,000 $ 40,000 Senior secured notes due 2019 ("Secured Notes") 375,000 375,000 Non-interest bearing notes payable 12,516 12,365 Total long-term debt 427,516 427,365 Less: Current Portion Current portion of non-interest bearing notes payable 3,416 3,416 Long-term debt $ 424,100 $ 423,949

Note 7 Stockholders' Equity (Ta

Note 7 Stockholders' Equity (Tables)	3 Months Ended
	Jan. 02, 2016
Stockholders' Equity Attributable to Parent [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	As of January 2, October 3, (In thousands) Foreign currency translation adjustments $ 85,739 $ 86,630 Unrealized holding losses on derivative financial instruments (614 ) (683 ) Unrecognized net actuarial loss and transition cost for benefit plans (18,579 ) (19,376 ) Total $ 66,546 $ 66,571

Note 9 Business Segment, Geog24

Note 9 Business Segment, Geographic and Customer Information (Tables)	3 Months Ended
	Jan. 02, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended January 2, December 27, (In thousands) Gross sales: IMS $ 1,239,268 $ 1,376,834 CPS 345,648 352,337 Intersegment revenue (50,202 ) (58,009 ) Net sales $ 1,534,714 $ 1,671,162 Gross profit: IMS $ 95,609 $ 100,907 CPS 30,102 31,567 Total 125,711 132,474 Unallocated items (1) (2,073 ) (6,128 ) Total $ 123,638 $ 126,346 (1) For purposes of evaluating segment performance, management excludes certain items from its measures of gross profit. These items include stock-based compensation expense, amortization of intangible assets, charges or credits resulting from distressed customers and similar items that either occur infrequently or are of a non-operational nature.
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	Three Months Ended January 2, December 27, (In thousands) Net sales United States $ 254,379 $ 240,287 Mexico 484,970 531,454 China 367,259 412,807 Other international 428,106 486,614 Total $ 1,534,714 $ 1,671,162 Percentage of net sales represented by ten largest customers 48.2 % 50.0 % Number of customers representing 10% or more of net sales — —

Note 10 Earnings Per Share (Tab

Note 10 Earnings Per Share (Tables)	3 Months Ended
	Jan. 02, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended January 2, December 27, (In thousands, except per share data) Numerator: Net income $ 27,138 $ 22,656 Denominator: Weighted average common shares outstanding 77,921 82,548 Effect of dilutive stock options and restricted stock units 3,284 4,134 Denominator for diluted earnings per share 81,205 86,682 Net income per share: Basic $ 0.35 $ 0.27 Diluted $ 0.33 $ 0.26
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended January 2, December 27, (In thousands) Potentially dilutive securities: Employee stock options 779 399 Restricted stock units 2 73 Total 781 472

Note 11 Stock-Based Compensat26

Note 11 Stock-Based Compensation (Tables)	3 Months Ended
	Jan. 02, 2016
Share-based Compensation [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	Three Months Ended January 2, December 27, (In thousands) Stock options $ 1,240 $ 3,203 Restricted stock units 2,812 2,514 Total $ 4,052 $ 5,717
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended January 2, December 27, (In thousands) Cost of sales $ 1,405 $ 1,576 Selling, general and administrative 2,566 4,103 Research and development 81 38 Total $ 4,052 $ 5,717
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Number of Shares Weighted- Average Exercise Price ($) Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value of In-The-Money Options ($) (In thousands) (In thousands) Outstanding as of October 3, 2015 7,033 13.05 4.94 53,938 Granted 1 23.77 Exercised/Cancelled/Forfeited/Expired (432 ) 12.82 Outstanding as of January 2, 2016 6,602 13.06 4.72 52,710 Vested and expected to vest as of January 2, 2016 6,533 13.00 4.67 52,476 Exercisable as of January 2, 2016 5,681 12.31 4.18 48,487
Schedule of Restricted Stock Units Award Activity [Table Text Block]	Number of Shares Weighted- Average Grant Date Fair Value ($) Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value ($) (In thousands) (In thousands) Outstanding as of October 3, 2015 2,979 16.52 1.52 59,843 Granted 1,045 23.26 Vested/Forfeited/Cancelled (105 ) 11.78 Outstanding as of January 2, 2016 3,919 18.44 1.82 80,409 Expected to vest as of January 2, 2016 1,889 16.55 1.29 38,752

Note 2 Inventories (Details)

Note 2 Inventories (Details) - USD ($) $ in Thousands	Jan. 02, 2016	Oct. 03, 2015
Inventory, Net [Abstract]
Raw materials	$ 615,145	$ 624,514
Work-in-process	103,100	120,131
Finished goods	177,878	174,083
Total	$ 896,123	$ 918,728

Note 3 Foreign Currency Forward

Note 3 Foreign Currency Forward Contract (Details) - Foreign Currency Forward $ in Thousands	3 Months Ended
	Jan. 02, 2016USD ($)	Oct. 03, 2015USD ($)
Derivatives Designated as Accounting Hedges:
Derivative [Line Items]
Derivative Notional Amount	$ 83,509	$ 76,465
Number of contracts	44	41
Maximum Length of Time Hedged	12 months
Derivatives Not Designated as Accounting Hedges:
Derivative [Line Items]
Derivative Notional Amount	$ 261,111	$ 230,084
Number of contracts	46	46
Maximum Remaining Maturity	2 months

Note 4 Debt Schedule (Details)

Note 4 Debt Schedule (Details) - USD ($) $ in Thousands	Jan. 02, 2016	Oct. 03, 2015
Debt Instrument [Line Items]
Non-interest bearing notes payable	$ 12,516	$ 12,365
Total long-term debt	427,516	427,365
Long-term debt	424,100	423,949
Debt due 2017
Debt Instrument [Line Items]
Secured debt	40,000	40,000
Secured Notes Due 2019
Debt Instrument [Line Items]
Secured debt	375,000	375,000
Current portion
Debt Instrument [Line Items]
Non-interest bearing notes payable	$ 3,416	$ 3,416

Note 4 Line of Credit Facility

Note 4 Line of Credit Facility (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 02, 2016	May. 20, 2015
Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum Borrowing Capacity		$ 375
Long-term Line of Credit	$ 86
Letters of Credit Outstanding, Amount	$ 21.9
Expiration Date	May 20, 2020
Additional Credit Line		$ 125
Foreign Line of Credit
Line of Credit Facility [Line Items]
Maximum Borrowing Capacity	$ 74.1
Long-term Line of Credit	$ 0
Expiration Date	Mar. 11, 2017

Note 5 Contingencies (Details)

Note 5 Contingencies (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 27, 2014	Jan. 02, 2016	Oct. 03, 2015
Loss Contingencies [Line Items]
Contingent Liability		$ 51.5	$ 49.2
Leases, Operating [Abstract]
Operating Leases, Future Minimum Payments Due		79.1	$ 66.1
Accounts Receivable and Inventory [Member]
Loss Contingencies [Line Items]
Contingent Liability		$ 12
Inventory
Loss Contingencies [Line Items]
Loss Contingency, Loss in Period	$ 3.9

Note 6 Income Tax Note 6 Income

Note 6 Income Tax Note 6 Income Tax (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jan. 02, 2016	Dec. 27, 2014	Oct. 03, 2015
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 20,967	$ 23,148
Accounting Standards Update 2015_17 [Member] | New Accounting Pronouncement, Early Adoption, Effect [Member]
New Accounting Pronouncement, Early Adoption [Line Items]
Prior Period Reclassification Adjustment			$ 74,900

Note 7 Stockholders' Equity (De

Note 7 Stockholders' Equity (Details) - USD ($) $ in Thousands	Jan. 02, 2016	Oct. 03, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Foreign currency translation adjustments	$ 85,739	$ 86,630
Unrealized holding losses on derivative financial instruments	(614)	(683)
Unrecognized net actuarial loss and transition cost for benefit plans	(18,579)	(19,376)
Total	$ 66,546	$ 66,571

Note 7 Stock Repurchase (Detail

Note 7 Stock Repurchase (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 02, 2016	Dec. 27, 2014
Stockholders' Equity Attributable to Parent [Abstract]
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 175.2
Shares Paid for Tax Withholding for Share Based Compensation	20,000	47,000
Amount of Tax Withholding for Share-based Compensation	$ 0.5	$ 1.2
Treasury Stock, Shares, Acquired	1,400,000
Treasury Stock, Value, Acquired, Cost Method	$ 28.7

Note 8 Acquisition (Details)

Note 8 Acquisition (Details) - Subsequent Event [Member] $ in Millions	1 Months Ended
	Jan. 29, 2016USD ($)
Completed in Q2 2016 [Member]
Business Acquisition [Line Items]
Effective Date of Acquisition	Jan. 5, 2016
Consideration Transferred	$ 40
Expected Completion Q2 2016 [Member]
Business Acquisition [Line Items]
Date of Acquisition Agreement	Oct. 7, 2015

Note 9 Revenue and Gross Profit

Note 9 Revenue and Gross Profit by Segment (Details) $ in Thousands		3 Months Ended
		Jan. 02, 2016USD ($)	Dec. 27, 2014USD ($)
Segment Reporting Information [Line Items]
Gross profit		$ 123,638	$ 126,346
Number of Reportable Segments		1	1
Operating Segments
Segment Reporting Information [Line Items]
Gross profit		$ 125,711	$ 132,474
Operating Segments | IMS
Segment Reporting Information [Line Items]
Revenues		1,239,268	1,376,834
Gross profit		95,609	100,907
Operating Segments | CPS
Segment Reporting Information [Line Items]
Revenues		345,648	352,337
Gross profit		30,102	31,567
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues		(50,202)	(58,009)
Unallocated items (1)
Segment Reporting Information [Line Items]
Gross profit	[1]	$ (2,073)	$ (6,128)
[1]	For purposes of evaluating segment performance, management excludes certain items from its measures of gross profit. These items include stock-based compensation expense, amortization of intangible assets, charges or credits resulting from distressed customers and similar items that either occur infrequently or are of a non-operational nature.

Note 9 Net Sales Information by

Note 9 Net Sales Information by Geographic Segment (Details) $ in Thousands	3 Months Ended
	Jan. 02, 2016USD ($)	Dec. 27, 2014USD ($)
Revenues from External Customers [Line Items]
Net sales	$ 1,534,714	$ 1,671,162
Percentage of net sales represented by ten largest customers	48.20%	50.00%
Number of customers representing 10% or more of net sales	0	0
United States
Revenues from External Customers [Line Items]
Net sales	$ 254,379	$ 240,287
Mexico
Revenues from External Customers [Line Items]
Net sales	484,970	531,454
China
Revenues from External Customers [Line Items]
Net sales	367,259	412,807
Other international
Revenues from External Customers [Line Items]
Net sales	$ 428,106	$ 486,614

Note 10 Earnings Per Share (Det

Note 10 Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jan. 02, 2016	Dec. 27, 2014
Earnings Per Share [Line Items]
Net income	$ 27,138	$ 22,656
Weighted average shares used in computing per share amount:
Weighted average common shares outstanding	77,921	82,548
Effect of dilutive stock options and restricted stock units	3,284	4,134
Denominator for diluted earnings per share	81,205	86,682
Net income per share:
Basic	$ 0.35	$ 0.27
Diluted	$ 0.33	$ 0.26
Potentially dilutive securities [Abstract]
Potentially dilutive securities	781	472
Employee stock options
Potentially dilutive securities [Abstract]
Potentially dilutive securities	779	399
Restricted stock units
Potentially dilutive securities [Abstract]
Potentially dilutive securities	2	73

Note 11 Share-Based Compensatio

Note 11 Share-Based Compensation Arrangements (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 02, 2016	Dec. 27, 2014
Allocation of Recognized Period Costs [Line Items]
Share-based Compensation	$ 4,052	$ 5,717
Stock options
Allocation of Recognized Period Costs [Line Items]
Share-based Compensation	1,240	3,203
Restricted stock units
Allocation of Recognized Period Costs [Line Items]
Share-based Compensation	2,812	2,514
Cost of sales
Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	1,405	1,576
Selling, general and administrative
Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	2,566	4,103
Research and development
Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	$ 81	$ 38

Note 11 Shares Authorized for F

Note 11 Shares Authorized for Future Issuance and Available for Grant (Details) shares in Millions	Jan. 02, 2016shares
Shares Authorized for Future Issuance and Available for Grant [Abstract]
Capital Shares Reserved for Future Issuance	12.1
Total number of stock options and unvested restricted stock units outstanding	10.5
Number of Shares Available for Future Grant	1.6

Note 11 Stock Options Outstandi

Note 11 Stock Options Outstanding Rollforward (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Jan. 02, 2016	Oct. 03, 2015
Options Outstanding [Roll Forward]
Outstanding, beginning	7,033
Granted	1
Exercised/Cancelled/Forfeited/Expired	(432)
Outstanding, ending	6,602	7,033
Vested and Expected to Vest	6,533
Exercisable	5,681
Weighted Average Exercise Price [Abstract]
Outstanding, beginning	$ 13.05
Granted	23.77
Exercised/Cancelled/Forfeited/Expired	12.82
Outstanding, ending	13.06	$ 13.05
Vested and expected to vest	13
Exercisable	$ 12.31
Weighted Average Remaining Contractual Term (Years) [Abstract]
Outstanding	4 years 8 months 20 days	4 years 11 months 7 days
Vested and Expected to Vest	4 years 7 months 30 days
Exercisable	4 years 2 months 5 days
Aggregate Intrinsic Value of In the Money Options [Abstract]
Outstanding	$ 52,710	$ 53,938
Vested and Expected to Vest	52,476
Exercisable	$ 48,487

Note 11 Restricted Stock Rollfo

Note 11 Restricted Stock Rollforward (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Jan. 02, 2016	Oct. 03, 2015
Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, beginning	2,979
Granted	1,045
Vested/Forfeited/Cancelled	(105)
Outstanding, ending	3,919	2,979
Expected to vest	1,889
Weighted Average Grant Date Fair Value Restricted Stock [Abstract]
Outstanding, beginning	$ 16.52
Granted	23.26
Vested/Forfeited/Cancelled	11.78
Outstanding, ending	18.44	$ 16.52
Expected to vest	$ 16.55
Weighted Average Remaining Contractual Term [Abstract]
Outstanding	1 year 9 months 25 days	1 year 6 months 7 days
Expected to vest	1 year 3 months 15 days
Restricted Stock Non vested Aggregate Intrinsic Value [Abstract]
Outstanding	$ 80,409	$ 59,843
Expected to vest	$ 38,752

Note 11 Unrecognized Stock Base

Note 11 Unrecognized Stock Based Compensation Expense (Details) $ in Millions	3 Months Ended
	Jan. 02, 2016USD ($)
Employee stock options
Unrecognized Compensation Cost and Weighted Average Period [Line Items]
Unrecognized compensation expense	$ 5.9
Weighted average period of recognition (years)	1 year 9 months 15 days
Restricted stock units
Unrecognized Compensation Cost and Weighted Average Period [Line Items]
Unrecognized compensation expense	$ 17.2
Weighted average period of recognition (years)	1 year 3 months 25 days
Performance Shares
Unrecognized Compensation Cost and Weighted Average Period [Line Items]
Unrecognized compensation expense	$ 37.8