Sanmina (SANM) 10-Q 3 Feb 17 2017 Q1 Quarterly report Financial data

DEI Document

DEI Document - shares	3 Months Ended
	Dec. 31, 2016	Jan. 30, 2017
Document and entity information [Abstract]
Entity Registrant Name	SANMINA CORP
Entity Central Index Key	897,723
Document Type	10-Q
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--09-30
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		74,293,480

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Oct. 01, 2016
Current assets:
Cash and cash equivalents	$ 405,240	$ 398,288
Accounts receivable, net of allowances of $16,866 and $15,081 as of December 31, 2016 and October 1, 2016, respectively	993,049	973,680
Inventories	963,905	946,239
Prepaid expenses and other current assets	55,394	57,445
Total current assets	2,417,588	2,375,652
Property, plant and equipment, net	620,911	617,524
Deferred tax assets	513,020	514,314
Other	116,468	117,732
Total assets	3,667,987	3,625,222
Current liabilities:
Accounts payable	1,171,230	1,121,135
Accrued liabilities	115,371	124,386
Accrued payroll and related benefits	105,232	127,326
Short-term debt, including current portion of long-term debt	43,416	28,416
Total current liabilities	1,435,249	1,401,263
Long-term liabilities:
Long-term debt	393,298	434,059
Other	176,674	180,097
Total long-term liabilities	569,972	614,156
Contingencies (Note 5)
Stockholders' equity	1,662,766	1,609,803
Total liabilities and stockholders' equity	$ 3,667,987	$ 3,625,222

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2016	Oct. 01, 2016
Allowance for Doubtful Accounts	$ 16,866	$ 15,081

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2016	Jan. 02, 2016
Net sales	$ 1,719,977	$ 1,534,714
Cost of sales	1,587,815	1,411,076
Gross profit	132,162	123,638
Operating expenses:
Selling, general and administrative	65,140	57,693
Research and development	8,171	9,647
Other	195	2,245
Total operating expenses	73,506	69,585
Operating income	58,656	54,053
Interest income	201	148
Interest expense	(5,267)	(5,878)
Other income (expense), net	1,257	(218)
Interest and other, net	(3,809)	(5,948)
Income before income taxes	54,847	48,105
Provision for income taxes	9,983	20,967
Net income	$ 44,864	$ 27,138
Net income per share:
Basic	$ 0.61	$ 0.35
Diluted	$ 0.58	$ 0.33
Weighted average shares used in computing per share amounts:
Basic	73,554	77,921
Diluted	77,175	81,205

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Jan. 02, 2016
Net income	$ 44,864	$ 27,138
Other comprehensive income (loss), net of tax:
Change in foreign currency translation adjustments	(2,156)	(891)
Derivative financial instruments:
Change in net unrealized amount	(2,169)	364
Amount reclassified into net income	1,926	(295)
Defined benefit plans:
Changes in unrecognized net actuarial loss and unrecognized transition cost	1,060	375
Amortization of actuarial losses and transition costs	599	422
Total other comprehensive loss	(740)	(25)
Comprehensive income	$ 44,124	$ 27,113

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Jan. 02, 2016
CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES:
Net income	$ 44,864	$ 27,138
Adjustments to reconcile net income to cash provided by (used in) operating activities:
Depreciation and amortization	28,972	25,751
Stock-based compensation expense	11,977	4,052
Deferred income taxes	1,477	12,326
Other, net	644	1,270
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(22,849)	5,848
Inventories	(19,306)	22,508
Prepaid expenses and other assets	1,614	429
Accounts payable	39,391	(12,557)
Accrued liabilities	(32,857)	(24,105)
Cash provided by operating activities	53,927	62,660
CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(21,667)	(28,910)
Proceeds from sales of property, plant and equipment	3,582	202
Cash used in investing activities	(18,085)	(28,708)
CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES:
Proceeds from revolving credit facility borrowings	208,400	770,500
Repayments of revolving credit facility borrowings	(233,400)	(794,500)
Net proceeds from stock issuances	10,643	4,310
Repurchases of common stock	(13,623)	(28,694)
Holdback Payment for Prior Business Combination	(2,262)	0
Cash used in financing activities	(30,242)	(48,384)
Effect of exchange rate changes	1,352	626
Increase (decrease) in cash and cash equivalents	6,952	(13,806)
Cash and cash equivalents at beginning of period	398,288	412,253
Cash and cash equivalents at end of period	405,240	398,447
Cash paid during the period for:
Interest, net of capitalized interest	8,543	8,957
Income taxes, net of refunds	$ 5,593	$ 9,339

Note 1 Basis of Presentation

Note 1 Basis of Presentation	3 Months Ended
	Dec. 31, 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 primarily 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 1, 2016 , included in the Company's 2016 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 2017 are not necessarily indicative of the results that may be expected for other interim periods or for the full fiscal year. The Company operates on a 52 or 53 week year ending on the Saturday nearest September 30. Fiscal 2017 and 2016 are each 52-week years. All references to years relate to fiscal years unless otherwise noted. Recent Accounting Pronouncements Adopted In August 2016, the FASB issued ASU 2016-15 "Classification of Certain Cash Receipts and Cash Payments (Topic 230)". This ASU addresses the classification and presentation of eight specific cash flow issues that currently result in diverse practices. The Company adopted this ASU at the beginning of fiscal 2017, the adoption of which did not have a significant effect on the statement of cash flows. In September 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (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 the provisional amounts had been recognized as of the acquisition date. The Company adopted this ASU at the beginning of fiscal 2017, the adoption of which did not affect the Company's financial statements. In April 2015, the FASB issued ASU 2015-3, "Simplifying the Presentation of Debt Issuance Costs (Topic 835)". This ASU requires presentation of debt issuance costs in the balance sheet as a direct deduction from the related debt liability, rather than as an asset. The Company adopted this ASU at the beginning of fiscal 2017, the adoption of which did not affect the Company's financial statements. Recent Accounting Pronouncements Not Yet Adopted In January 2017, the FASB issued Accounting Standards Update ("ASU") 2017-01, "Business Combinations (Topic 805)". This ASU provides guidance to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The new standard is effective for annual reporting periods beginning after December 15, 2017 and interim periods within those annual periods. The Company is currently evaluating the impact, if any, of adopting this new accounting standard. In November 2016, the FASB issued ASU 2016-18 "Statement of Cash Flows (Topic 230)". This ASU addresses presentations of total cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This ASU is effective for interim and annual periods beginning after December 15, 2017, and early adoption is permitted. The Company does not expect the impact of adopting this new accounting standard to be significant. In October 2016, the FASB issued Accounting Standards Update 2016-16, "Intra-Entity Transfers of Assets Other Than Inventory (Topic 740)". This ASU simplifies the accounting for income tax consequences of intra-entity transfers of assets other than inventory by requiring recognition of current and deferred income tax consequences when such transfers occur. The new standard is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those annual period, but early adoption is permitted. The Company is currently evaluating the impact of adopting this new accounting standard. In March 2016, the FASB issued ASU 2016-09 "Improvements to Employee Share-Based Payment Accounting (Topic 718)". This ASU addresses several aspects of accounting for share-based payment award transactions, including: (a) income tax consequences, (b) classification of awards as either equity or liabilities, and (c) classification in the statement of cash flows. The new standard is effective for the Company at the beginning of fiscal 2018, including interim periods within that reporting period, but early adoption is allowed. The Company is currently evaluating the impact of adopting this new accounting standard. In February 2016, the FASB issued ASU 2016-02, "Leases: Amendments to the FASB Accounting Standards Codification (Topic 842)". This ASU requires the Company to recognize on the balance sheet the assets and liabilities for rights and obligations created by leases with terms of more than twelve months. This ASU also requires disclosures enabling the users of financial statements to understand the amount, timing and uncertainty of cash flows arising from leases. The new standard is effective for the Company at the beginning of fiscal 2020, including interim periods within that reporting period. The Company is currently evaluating the impact of adopting this new accounting standard. 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 has determined that the new standard will result in a change to the timing of revenue recognition for a significant portion of the Company's revenue stream, whereby revenue will be recognized "over time" as opposed to at a "point in time" upon physical delivery. The new standard could have a material impact to the Company's consolidated financial statements upon initial adoption. The Company has not yet selected a transition method and continues to closely monitor implementation issues and other guidance published by the standard setters.

Note 2 Inventories

Note 2 Inventories	3 Months Ended
	Dec. 31, 2016
Inventory, Net [Abstract]
Inventory Disclosure [Text Block]	Inventories Components of inventories were as follows: As of December 31, October 1, (In thousands) Raw materials $ 695,421 $ 671,240 Work-in-process 128,848 144,355 Finished goods 139,636 130,644 Total $ 963,905 $ 946,239

Note 3 Financial Instruments

Note 3 Financial Instruments	3 Months Ended
	Dec. 31, 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 (generally less than 10% of cash and 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 December 31, 2016 , the aggregate carrying amount of the Company's long-term debt instruments was approximately 2% less than fair value as estimated based primarily on quoted prices (Level 2 input) . 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 financial liabilities measured at fair value on a recurring basis are deferred compensation plan assets and defined benefit plan assets, which are both Level 1 inputs. Defined benefit plan assets are measured at fair value in the fourth quarter of each year. Foreign exchange contracts and contingent consideration were not material as of December 31, 2016 or October 1, 2016 . 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 in 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 December 31, 2016 or October 1, 2016 . Other non-financial assets, such as intangible assets and goodwill, are measured at fair value as of the date such assets are acquired or in the period an impairment is recorded. 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 currency exchange 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 December 31, 2016 October 1, 2016 Derivatives Designated as Accounting Hedges: Notional amount (in thousands) $ 81,121 $ 110,242 Number of contracts 47 43 Derivatives Not Designated as Accounting Hedges: Notional amount (in thousands) $ 339,304 $ 313,558 Number of contracts 51 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 designated as cash flow hedges for accounting purposes 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 December 31, 2016 , AOCI related to foreign currency forward contracts was not material. The Company enters into short-term foreign currency forward contracts to hedge 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. In addition to the short-term contracts discussed above, the Company has a foreign currency forward contract that matures in 2020. The Company entered into the contract to hedge a foreign currency exposure associated with a long-term promissory note issued in connection with a previous business combination.

Note 4 Debt

Note 4 Debt	3 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Debt Long-term debt consisted of the following: As of December 31, October 1, (In thousands) Secured debt due 2017 $ 40,000 $ 40,000 Senior secured notes due 2019 375,000 375,000 Non-interest bearing promissory notes 21,714 22,475 Total long-term debt 436,714 437,475 Less: Current portion (includes Secured debt due 2017) 43,416 3,416 Long-term debt $ 393,298 $ 434,059 On January 31, 2017 , subsequent to the end of the first quarter of 2017 , the Company made an irrevocable election to repay its Secured debt due 2017 prior to its scheduled maturity of December 19, 2017 . Accordingly, this debt obligation of $40.0 million will be paid on February 7, 2017 , with no penalty for early repayment. 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 December 31, 2016 , there were no borrowings and $16.8 million of letters of credit were outstanding under the Cash Flow Revolver. As of December 31, 2016 , certain foreign subsidiaries of the Company had a total of $74.0 million of short-term borrowing facilities, under which no borrowings were outstanding. Most of these facilities expire at various dates through the first quarter of 2018. Debt covenants The Company's Cash Flow Revolver requires the Company to comply with certain financial covenants. Additionally, the agreement governing the Company’s $40 million debt collateralized by the Company’s corporate campus requires the Company to comply with a financial covenant if certain conditions exist, none of which existed as of December 31, 2016 . This covenant will no longer be applicable after February 7, 2017 when such debt is repaid. 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 December 31, 2016 .

Note 5 Contingencies

Note 5 Contingencies	3 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	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 December 31, 2016 and October 1, 2016 , the Company had reserves of $42.2 million and $46 million , respectively, for environmental matters, warranty, litigation and other contingencies (excluding reserves for uncertain tax positions) which the Company believes are 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 December 31, 2016 , the Company had been named in a lawsuit and several administrative orders alleging certain of its current and former sites contributed to groundwater contamination. One such order requires the Company's Canadian subsidiary to remediate certain environmental contamination at a site owned by the subsidiary between 1999 and 2006. As of December 31, 2016 , the Company believes it has reserved a sufficient amount to satisfy anticipated future investigation and 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 2017. 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 2011. These claims seek payment of social fund contributions 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 continue to contest the claims. Other Contingencies One of the Company's most significant risks is the ultimate realization of accounts receivable and customer inventory exposures. 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. Customer bankruptcies also entail the risk of potential recovery by the bankruptcy estate of amounts previously paid to the Company that are deemed a preference under bankruptcy laws.

Note 6. Income Tax Income Tax

Note 6. Income Tax Income Tax	3 Months Ended
	Dec. 31, 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 2017 and 2016 was $10.0 million ( 18.2% of income before taxes) and $21.0 million ( 43.6% of income before taxes), respectively. The decrease in income tax expense in 2017 was primarily attributable to a tax benefit resulting from the restructuring of certain foreign entities.

Note 7 Stockholders' Equity

Note 7 Stockholders' Equity	3 Months Ended
	Dec. 31, 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 December 31, October 1, (In thousands) Foreign currency translation adjustments $ 88,208 $ 90,364 Unrealized holding losses on derivative financial instruments (682 ) (439 ) Unrecognized net actuarial loss and transition cost for benefit plans (22,885 ) (24,544 ) Total $ 64,641 $ 65,381 Stock Repurchase Program The Company did not repurchase any of its common stock in the open market during the first quarter of 2017 and repurchased 1.4 million shares of its common stock for $28.7 million during the first quarter of 2016. As of December 31, 2016 , $212.8 million remains available under a stock repurchase program authorized by the Company's Board of Directors in 2016. This authorization has no expiration date. In addition to the open market repurchases discussed above, the Company repurchased 453,000 and 20,000 shares of its common stock during the three months ended December 31, 2016 and January 2, 2016 , respectively, in settlement of employee tax withholding obligations due upon the vesting of restricted stock units. The Company paid $13.6 million and $0.5 million , respectively, in conjunction with these repurchases.

Note 8 Business Segment, Geogra

Note 8 Business Segment, Geographic and Customer Information	3 Months Ended
	Dec. 31, 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 measure of segment gross profit used by management to allocate resources and assess performance of operating segments: Three Months Ended December 31, January 2, (In thousands) Gross sales: IMS $ 1,414,270 $ 1,239,268 CPS 351,074 345,648 Intersegment revenue (45,367 ) (50,202 ) Net sales $ 1,719,977 $ 1,534,714 Gross profit: IMS $ 102,637 $ 95,609 CPS 33,289 30,102 Total 135,926 125,711 Unallocated items (1) (3,764 ) (2,073 ) Total $ 132,162 $ 123,638 (1) For purposes of evaluating segment performance, management excludes certain items from its measures of gross profit. These items consist of stock-based compensation expense, amortization of intangible assets, charges or credits resulting from distressed customers and acquisition-related items. Net sales by geographic segment, determined based on the country in which a product is manufactured, were as follows: Three Months Ended December 31, January 2, (In thousands) Net sales United States $ 299,876 $ 254,379 Mexico 474,160 484,970 China 321,739 367,259 Malaysia 211,191 46,608 Other international 413,011 381,498 Total $ 1,719,977 $ 1,534,714 Percentage of net sales represented by ten largest customers 51.8 % 48.2 % Number of customers representing 10% or more of net sales 2 —

Note 9 Earnings Per Share

Note 9 Earnings Per Share	3 Months Ended
	Dec. 31, 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 December 31, January 2, (In thousands, except per share data) Numerator: Net income $ 44,864 $ 27,138 Denominator: Weighted average common shares outstanding 73,554 77,921 Effect of dilutive stock options and restricted stock units 3,621 3,284 Denominator for diluted earnings per share 77,175 81,205 Net income per share: Basic $ 0.61 $ 0.35 Diluted $ 0.58 $ 0.33 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 December 31, January 2, (In thousands) Potentially dilutive securities: Employee stock options 29 779 Restricted stock units 72 2 Total 101 781

Note 10 Stock-Based Compensatio

Note 10 Stock-Based Compensation	3 Months Ended
	Dec. 31, 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 December 31, January 2, (In thousands) Stock options $ 550 $ 1,240 Restricted stock units, including performance based awards 11,427 2,812 Total $ 11,977 $ 4,052 Stock-based compensation expense was recognized as follows: Three Months Ended December 31, January 2, (In thousands) Cost of sales $ 2,864 $ 1,405 Selling, general and administrative 8,840 2,566 Research and development 273 81 Total $ 11,977 $ 4,052 As of December 31, 2016 , an aggregate of 10.3 million shares were authorized for future issuance under the Company's stock plans, of which 8.4 million of such shares were issuable upon exercise of outstanding options and delivery of shares upon vesting of restricted stock units and 1.9 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 1, 2016 5,514 12.75 4.10 81,659 Granted — — Exercised/Cancelled/Forfeited/Expired (709 ) 15.04 Outstanding as of December 31, 2016 4,805 12.41 4.03 113,109 Vested and expected to vest as of December 31, 2016 4,786 12.37 4.02 112,836 Exercisable as of December 31, 2016 4,542 11.86 3.82 109,411 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 December 31, 2016 , unrecognized compensation expense of $2.3 million is expected to be recognized over a weighted average period of 1.6 years. Restricted Stock Units Activity with respect to the Company's restricted stock units was as follows: Number of Shares Weighted- Average Grant Date Fair Value ($) Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value ($) (In thousands) (In thousands) Outstanding as of October 1, 2016 3,998 19.57 1.35 110,183 Granted 941 32.56 Vested/Forfeited/Cancelled (1,406 ) 13.42 Outstanding as of December 31, 2016 3,533 23.35 1.81 127,011 Expected to vest as of December 31, 2016 2,756 24.51 1.83 99,093 As of December 31, 2016 , unrecognized compensation expense of $48.1 million is expected to be recognized over a weighted average period of 1.9 years. Additionally, as of December 31, 2016 , unrecognized compensation expense related to performance-based restricted stock units for which achievement of the performance criteria is not currently considered probable was $14.3 million .

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting, Policy [Policy 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 primarily 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 1, 2016 , included in the Company's 2016 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 2017 are not necessarily indicative of the results that may be expected for other interim periods or 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 2017 and 2016 are each 52-week years. All references to years relate to fiscal years unless otherwise noted.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements Adopted In August 2016, the FASB issued ASU 2016-15 "Classification of Certain Cash Receipts and Cash Payments (Topic 230)". This ASU addresses the classification and presentation of eight specific cash flow issues that currently result in diverse practices. The Company adopted this ASU at the beginning of fiscal 2017, the adoption of which did not have a significant effect on the statement of cash flows. In September 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (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 the provisional amounts had been recognized as of the acquisition date. The Company adopted this ASU at the beginning of fiscal 2017, the adoption of which did not affect the Company's financial statements. In April 2015, the FASB issued ASU 2015-3, "Simplifying the Presentation of Debt Issuance Costs (Topic 835)". This ASU requires presentation of debt issuance costs in the balance sheet as a direct deduction from the related debt liability, rather than as an asset. The Company adopted this ASU at the beginning of fiscal 2017, the adoption of which did not affect the Company's financial statements. Recent Accounting Pronouncements Not Yet Adopted In January 2017, the FASB issued Accounting Standards Update ("ASU") 2017-01, "Business Combinations (Topic 805)". This ASU provides guidance to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The new standard is effective for annual reporting periods beginning after December 15, 2017 and interim periods within those annual periods. The Company is currently evaluating the impact, if any, of adopting this new accounting standard. In November 2016, the FASB issued ASU 2016-18 "Statement of Cash Flows (Topic 230)". This ASU addresses presentations of total cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This ASU is effective for interim and annual periods beginning after December 15, 2017, and early adoption is permitted. The Company does not expect the impact of adopting this new accounting standard to be significant. In October 2016, the FASB issued Accounting Standards Update 2016-16, "Intra-Entity Transfers of Assets Other Than Inventory (Topic 740)". This ASU simplifies the accounting for income tax consequences of intra-entity transfers of assets other than inventory by requiring recognition of current and deferred income tax consequences when such transfers occur. The new standard is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those annual period, but early adoption is permitted. The Company is currently evaluating the impact of adopting this new accounting standard. In March 2016, the FASB issued ASU 2016-09 "Improvements to Employee Share-Based Payment Accounting (Topic 718)". This ASU addresses several aspects of accounting for share-based payment award transactions, including: (a) income tax consequences, (b) classification of awards as either equity or liabilities, and (c) classification in the statement of cash flows. The new standard is effective for the Company at the beginning of fiscal 2018, including interim periods within that reporting period, but early adoption is allowed. The Company is currently evaluating the impact of adopting this new accounting standard. In February 2016, the FASB issued ASU 2016-02, "Leases: Amendments to the FASB Accounting Standards Codification (Topic 842)". This ASU requires the Company to recognize on the balance sheet the assets and liabilities for rights and obligations created by leases with terms of more than twelve months. This ASU also requires disclosures enabling the users of financial statements to understand the amount, timing and uncertainty of cash flows arising from leases. The new standard is effective for the Company at the beginning of fiscal 2020, including interim periods within that reporting period. The Company is currently evaluating the impact of adopting this new accounting standard. 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 has determined that the new standard will result in a change to the timing of revenue recognition for a significant portion of the Company's revenue stream, whereby revenue will be recognized "over time" as opposed to at a "point in time" upon physical delivery. The new standard could have a material impact to the Company's consolidated financial statements upon initial adoption. The Company has not yet selected a transition method and continues to closely monitor implementation issues and other guidance published by the standard setters.

Note 2 Inventories (Tables)

Note 2 Inventories (Tables)	3 Months Ended
	Dec. 31, 2016
Inventory, Net [Abstract]
Schedule of Inventory, Current [Table Text Block]	As of December 31, October 1, (In thousands) Raw materials $ 695,421 $ 671,240 Work-in-process 128,848 144,355 Finished goods 139,636 130,644 Total $ 963,905 $ 946,239

Note 3 Derivative Financial Ins

Note 3 Derivative Financial Instruments (Tables)	3 Months Ended
	Dec. 31, 2016
Financial Instruments, Owned, at Fair Value [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	As of December 31, 2016 October 1, 2016 Derivatives Designated as Accounting Hedges: Notional amount (in thousands) $ 81,121 $ 110,242 Number of contracts 47 43 Derivatives Not Designated as Accounting Hedges: Notional amount (in thousands) $ 339,304 $ 313,558 Number of contracts 51 46

Note 4 Debt (Tables)

Note 4 Debt (Tables)	3 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]	As of December 31, October 1, (In thousands) Secured debt due 2017 $ 40,000 $ 40,000 Senior secured notes due 2019 375,000 375,000 Non-interest bearing promissory notes 21,714 22,475 Total long-term debt 436,714 437,475 Less: Current portion (includes Secured debt due 2017) 43,416 3,416 Long-term debt $ 393,298 $ 434,059

Note 7 Stockholders' Equity (Ta

Note 7 Stockholders' Equity (Tables)	3 Months Ended
	Dec. 31, 2016
Stockholders' Equity Attributable to Parent [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	As of December 31, October 1, (In thousands) Foreign currency translation adjustments $ 88,208 $ 90,364 Unrealized holding losses on derivative financial instruments (682 ) (439 ) Unrecognized net actuarial loss and transition cost for benefit plans (22,885 ) (24,544 ) Total $ 64,641 $ 65,381

Note 8 Business Segment, Geog22

Note 8 Business Segment, Geographic and Customer Information (Tables)	3 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended December 31, January 2, (In thousands) Gross sales: IMS $ 1,414,270 $ 1,239,268 CPS 351,074 345,648 Intersegment revenue (45,367 ) (50,202 ) Net sales $ 1,719,977 $ 1,534,714 Gross profit: IMS $ 102,637 $ 95,609 CPS 33,289 30,102 Total 135,926 125,711 Unallocated items (1) (3,764 ) (2,073 ) Total $ 132,162 $ 123,638 (1) For purposes of evaluating segment performance, management excludes certain items from its measures of gross profit. These items consist of stock-based compensation expense, amortization of intangible assets, charges or credits resulting from distressed customers and acquisition-related items.
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	Three Months Ended December 31, January 2, (In thousands) Net sales United States $ 299,876 $ 254,379 Mexico 474,160 484,970 China 321,739 367,259 Malaysia 211,191 46,608 Other international 413,011 381,498 Total $ 1,719,977 $ 1,534,714 Percentage of net sales represented by ten largest customers 51.8 % 48.2 % Number of customers representing 10% or more of net sales 2 —

Note 9 Earnings Per Share (Tabl

Note 9 Earnings Per Share (Tables)	3 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended December 31, January 2, (In thousands, except per share data) Numerator: Net income $ 44,864 $ 27,138 Denominator: Weighted average common shares outstanding 73,554 77,921 Effect of dilutive stock options and restricted stock units 3,621 3,284 Denominator for diluted earnings per share 77,175 81,205 Net income per share: Basic $ 0.61 $ 0.35 Diluted $ 0.58 $ 0.33
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended December 31, January 2, (In thousands) Potentially dilutive securities: Employee stock options 29 779 Restricted stock units 72 2 Total 101 781

Note 10 Stock-Based Compensat24

Note 10 Stock-Based Compensation (Tables)	3 Months Ended
	Dec. 31, 2016
Share-based Compensation [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	Three Months Ended December 31, January 2, (In thousands) Stock options $ 550 $ 1,240 Restricted stock units, including performance based awards 11,427 2,812 Total $ 11,977 $ 4,052
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended December 31, January 2, (In thousands) Cost of sales $ 2,864 $ 1,405 Selling, general and administrative 8,840 2,566 Research and development 273 81 Total $ 11,977 $ 4,052
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 1, 2016 5,514 12.75 4.10 81,659 Granted — — Exercised/Cancelled/Forfeited/Expired (709 ) 15.04 Outstanding as of December 31, 2016 4,805 12.41 4.03 113,109 Vested and expected to vest as of December 31, 2016 4,786 12.37 4.02 112,836 Exercisable as of December 31, 2016 4,542 11.86 3.82 109,411
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 1, 2016 3,998 19.57 1.35 110,183 Granted 941 32.56 Vested/Forfeited/Cancelled (1,406 ) 13.42 Outstanding as of December 31, 2016 3,533 23.35 1.81 127,011 Expected to vest as of December 31, 2016 2,756 24.51 1.83 99,093

Note 2 Inventories (Details)

Note 2 Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Oct. 01, 2016
Inventory, Net [Abstract]
Raw materials	$ 695,421	$ 671,240
Work-in-process	128,848	144,355
Finished goods	139,636	130,644
Total	$ 963,905	$ 946,239

Note 3 Foreign Currency Forward

Note 3 Foreign Currency Forward Contract (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2016USD ($)	Oct. 01, 2016USD ($)
Derivative [Line Items]
Fair Value of Long-term Debt Instrument	the aggregate carrying amount of the Company's long-term debt instruments was approximately 2% less than fair value as estimated based primarily on quoted prices (Level 2 input)
Foreign Currency Forward | Derivatives Designated as Accounting Hedges:
Derivative [Line Items]
Derivative Notional Amount	$ 81,121	$ 110,242
Number of contracts	47	43
Maximum Length of Time Hedged	12 months
Foreign Currency Forward | Derivatives Not Designated as Accounting Hedges:
Derivative [Line Items]
Derivative Notional Amount	$ 339,304	$ 313,558
Number of contracts	51	46
Maximum Remaining Maturity	2 months

Note 4 Debt Schedule (Details)

Note 4 Debt Schedule (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 03, 2017	Dec. 31, 2016	Oct. 01, 2016
Debt Instrument [Line Items]
Non-interest bearing promissory notes		$ 21,714	$ 22,475
Total long-term debt		436,714	437,475
Less: Current portion (includes Secured debt due 2017)		43,416	3,416
Long-term debt		$ 393,298	434,059
Debt due 2017
Debt Instrument [Line Items]
Secured Debt Collateral		the agreement governing the Company’s $40 million debt collateralized by the Company’s corporate campus
Debt Instrument, Maturity Date		Dec. 19, 2017
Secured Debt		$ 40,000	40,000
Secured Notes Due 2019
Debt Instrument [Line Items]
Secured Debt		$ 375,000	$ 375,000
Subsequent Event [Member] | Debt due 2017
Debt Instrument [Line Items]
Extinguishment of Debt, Amount	$ 40,000
Subsequent Event, Date	Feb. 7, 2017

Note 4 Line of Credit Facility

Note 4 Line of Credit Facility (Details) $ in Millions	3 Months Ended
	Dec. 31, 2016USD ($)
Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum Borrowing Capacity	$ 375
Long-term Line of Credit	0
Letters of Credit Outstanding, Amount	$ 16.8
Expiration Date	May 20, 2020
Additional Credit Line	$ 125
Foreign Line of Credit
Line of Credit Facility [Line Items]
Maximum Borrowing Capacity	74
Long-term Line of Credit	$ 0
Expiration Date	Nov. 30, 2017

Note 5 Contingencies (Details)

Note 5 Contingencies (Details) - USD ($) $ in Millions	Dec. 31, 2016	Oct. 01, 2016
Loss Contingencies [Line Items]
Contingent Liability	$ 42.2	$ 46

Income Tax (Details)

Income Tax (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Jan. 02, 2016
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 9,983	$ 20,967
Effective Income Tax Rate Reconciliation, Percent	18.20%	43.60%

Note 7 Stockholders' Equity (De

Note 7 Stockholders' Equity (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Oct. 01, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Foreign currency translation adjustments	$ 88,208	$ 90,364
Unrealized holding losses on derivative financial instruments	(682)	(439)
Unrecognized net actuarial loss and transition cost for benefit plans	(22,885)	(24,544)
Total	$ 64,641	$ 65,381

Note 7 Stock Repurchase (Detail

Note 7 Stock Repurchase (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Jan. 02, 2016
Stockholders' Equity Attributable to Parent [Abstract]
Treasury Stock, Shares, Acquired		1,400,000
Treasury Stock, Value, Acquired, Cost Method		$ 28.7
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 212.8
Shares Paid for Tax Withholding for Share Based Compensation	453,000	20,000
Amount of Tax Withholding for Share-based Compensation	$ 13.6	$ 0.5

Note 8 Revenue and Gross Profit

Note 8 Revenue and Gross Profit by Segment (Details) $ in Thousands		3 Months Ended
		Dec. 31, 2016USD ($)	Jan. 02, 2016USD ($)
Segment Reporting Information [Line Items]
Gross profit		$ 132,162	$ 123,638
Number of Reportable Segments		1	1
Operating Segments
Segment Reporting Information [Line Items]
Gross profit		$ 135,926	$ 125,711
Operating Segments | IMS
Segment Reporting Information [Line Items]
Revenues		1,414,270	1,239,268
Gross profit		102,637	95,609
Operating Segments | CPS
Segment Reporting Information [Line Items]
Revenues		351,074	345,648
Gross profit		33,289	30,102
Intersegment revenue
Segment Reporting Information [Line Items]
Revenues		(45,367)	(50,202)
Unallocated items (1)
Segment Reporting Information [Line Items]
Gross profit	[1]	$ (3,764)	$ (2,073)
[1]	For purposes of evaluating segment performance, management excludes certain items from its measures of gross profit. These items consist of stock-based compensation expense, amortization of intangible assets, charges or credits resulting from distressed customers and acquisition-related items

Note 8 Net Sales Information by

Note 8 Net Sales Information by Geographic Segment (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2016USD ($)	Jan. 02, 2016USD ($)
Revenues from External Customers [Line Items]
Net sales	$ 1,719,977	$ 1,534,714
Percentage of net sales represented by ten largest customers	51.80%	48.20%
Number of customers representing 10% or more of net sales	2	0
United States
Revenues from External Customers [Line Items]
Net sales	$ 299,876	$ 254,379
Mexico
Revenues from External Customers [Line Items]
Net sales	474,160	484,970
China
Revenues from External Customers [Line Items]
Net sales	321,739	367,259
Malaysia
Revenues from External Customers [Line Items]
Net sales	211,191	46,608
Other international
Revenues from External Customers [Line Items]
Net sales	$ 413,011	$ 381,498

Note 9 Earnings Per Share (Deta

Note 9 Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2016	Jan. 02, 2016
Earnings Per Share [Line Items]
Net income	$ 44,864	$ 27,138
Weighted average shares used in computing per share amount:
Weighted average common shares outstanding	73,554	77,921
Effect of dilutive stock options and restricted stock units	3,621	3,284
Denominator for diluted earnings per share	77,175	81,205
Net income per share:
Basic	$ 0.61	$ 0.35
Diluted	$ 0.58	$ 0.33
Potentially dilutive securities [Abstract]
Potentially dilutive securities	101	781
Employee stock options
Potentially dilutive securities [Abstract]
Potentially dilutive securities	29	779
Restricted stock units
Potentially dilutive securities [Abstract]
Potentially dilutive securities	72	2

Note 10 Share-Based Compensatio

Note 10 Share-Based Compensation Arrangements (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Jan. 02, 2016
Allocation of Recognized Period Costs [Line Items]
Share-based Compensation	$ 11,977	$ 4,052
Stock options
Allocation of Recognized Period Costs [Line Items]
Share-based Compensation	550	1,240
Restricted stock units, including performance based awards
Allocation of Recognized Period Costs [Line Items]
Share-based Compensation	11,427	2,812
Cost of sales
Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	2,864	1,405
Selling, general and administrative
Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	8,840	2,566
Research and development
Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	$ 273	$ 81

Note 10 Shares Authorized for F

Note 10 Shares Authorized for Future Issuance and Available for Grant (Details) shares in Millions	Dec. 31, 2016shares
Shares Authorized for Future Issuance and Available for Grant [Abstract]
Capital Shares Reserved for Future Issuance	10.3
Total number of stock options and unvested restricted stock units outstanding	8.4
Number of Shares Available for Future Grant	1.9

Note 10 Stock Options Outstandi

Note 10 Stock Options Outstanding Rollforward (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2016	Oct. 01, 2016
Options Outstanding [Roll Forward]
Outstanding, beginning	5,514
Granted	0
Exercised/Cancelled/Forfeited/Expired	(709)
Outstanding, ending	4,805	5,514
Vested and Expected to Vest	4,786
Exercisable	4,542
Weighted Average Exercise Price [Abstract]
Outstanding, beginning	$ 12.75
Granted	0
Exercised/Cancelled/Forfeited/Expired	15.04
Outstanding, ending	12.41	$ 12.75
Vested and expected to vest	12.37
Exercisable	$ 11.86
Weighted Average Remaining Contractual Term (Years) [Abstract]
Outstanding	4 years 11 days	4 years 1 month 7 days
Vested and Expected to Vest	4 years 7 days
Exercisable	3 years 9 months 25 days
Aggregate Intrinsic Value of In the Money Options [Abstract]
Outstanding	$ 113,109	$ 81,659
Vested and Expected to Vest	112,836
Exercisable	$ 109,411

Note 10 Restricted Stock Rollfo

Note 10 Restricted Stock Rollforward (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2016	Oct. 01, 2016
Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, beginning	3,998
Granted	941
Vested/Forfeited/Cancelled	(1,406)
Outstanding, ending	3,533	3,998
Expected to vest	2,756
Weighted Average Grant Date Fair Value Restricted Stock [Abstract]
Outstanding, beginning	$ 19.57
Granted	32.56
Vested/Forfeited/Cancelled	13.42
Outstanding, ending	23.35	$ 19.57
Expected to vest	$ 24.51
Weighted Average Remaining Contractual Term [Abstract]
Outstanding	1 year 9 months 22 days	1 year 4 months 7 days
Expected to vest	1 year 9 months 29 days
Restricted Stock Non vested Aggregate Intrinsic Value [Abstract]
Outstanding	$ 127,011	$ 110,183
Expected to vest	$ 99,093

Note 10 Unrecognized Stock Base

Note 10 Unrecognized Stock Based Compensation Expense (Details) $ in Millions	3 Months Ended
	Dec. 31, 2016USD ($)
Employee stock options
Unrecognized Compensation Cost and Weighted Average Period [Line Items]
Unrecognized compensation expense	$ 2.3
Weighted average period of recognition (years)	1 year 7 months 12 days
Restricted stock units
Unrecognized Compensation Cost and Weighted Average Period [Line Items]
Unrecognized compensation expense	$ 48.1
Weighted average period of recognition (years)	1 year 10 months 25 days
Performance Shares
Unrecognized Compensation Cost and Weighted Average Period [Line Items]
Unrecognized compensation expense	$ 14.3