Sanmina (SANM) 10-Q 28 Apr 17 2017 Q2 Quarterly report Financial data

DEI Document

DEI Document - shares	6 Months Ended
	Apr. 01, 2017	Apr. 24, 2017
Document and entity information [Abstract]
Entity Registrant Name	Sanmina Corporation
Entity Central Index Key	897,723
Document Type	10-Q
Document Period End Date	Apr. 1, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
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		75,534,773

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 01, 2017	Oct. 01, 2016
Current assets:
Cash and cash equivalents	$ 432,527	$ 398,288
Accounts receivable, net of allowances of $15,569 and $15,081 as of April 1, 2017 and October 1, 2016, respectively	971,363	973,680
Inventories	1,019,155	946,239
Prepaid expenses and other current assets	54,362	57,445
Total current assets	2,477,407	2,375,652
Property, plant and equipment, net	623,037	617,524
Deferred tax assets	500,675	514,314
Other	118,989	117,732
Total assets	3,720,108	3,625,222
Current liabilities:
Accounts payable	1,174,209	1,121,135
Accrued liabilities	130,724	124,386
Accrued payroll and related benefits	118,852	127,326
Short-term debt, including current portion of long-term debt	3,416	28,416
Total current liabilities	1,427,201	1,401,263
Long-term liabilities:
Long-term debt	393,762	434,059
Other	182,442	180,097
Total long-term liabilities	576,204	614,156
Contingencies (Note 5)
Stockholders' equity	1,716,703	1,609,803
Total liabilities and stockholders' equity	$ 3,720,108	$ 3,625,222

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Apr. 01, 2017	Oct. 01, 2016
Allowance for Doubtful Accounts	$ 15,569	$ 15,081

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 01, 2017	Apr. 02, 2016	Apr. 01, 2017	Apr. 02, 2016
Net sales	$ 1,682,262	$ 1,611,174	$ 3,402,239	$ 3,145,888
Cost of sales	1,549,052	1,474,462	3,136,867	2,885,538
Gross profit	133,210	136,712	265,372	260,350
Operating expenses:
Selling, general and administrative	62,388	63,494	127,528	121,187
Research and development	8,437	9,997	16,608	19,644
Other	4,219	2,122	4,414	4,367
Total operating expenses	75,044	75,613	148,550	145,198
Operating income	58,166	61,099	116,822	115,152
Interest income	238	159	439	307
Interest expense	(5,486)	(6,353)	(10,753)	(12,231)
Other income, net	3,812	489	5,069	271
Interest and other, net	(1,436)	(5,705)	(5,245)	(11,653)
Income before income taxes	56,730	55,394	111,577	103,499
Provision for income taxes	25,013	25,033	34,996	46,000
Net income	$ 31,717	$ 30,361	$ 76,581	$ 57,499
Net income per share:
Basic	$ 0.42	$ 0.40	$ 1.03	$ 0.75
Diluted	$ 0.41	$ 0.39	$ 0.99	$ 0.72
Weighted average shares used in computing per share amounts:
Basic	74,761	75,477	74,156	76,605
Diluted	77,864	78,525	77,531	79,740

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 01, 2017	Apr. 02, 2016	Apr. 01, 2017	Apr. 02, 2016
Net income	$ 31,717	$ 30,361	$ 76,581	$ 57,499
Other comprehensive income (loss), net of tax:
Change in foreign currency translation adjustments	1,612	2,797	(544)	1,906
Derivative financial instruments:
Change in net unrealized amount	794	(1,354)	(1,375)	(990)
Amount reclassified into net income	(460)	1,457	1,466	1,162
Defined benefit plans:
Changes in unrecognized net actuarial losses and unrecognized transition costs	170	(483)	1,230	(108)
Amortization of actuarial losses and transition costs	567	442	1,166	864
Total other comprehensive income	2,683	2,859	1,943	2,834
Comprehensive income	$ 34,400	$ 33,220	$ 78,524	$ 60,333

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES:
Net income	$ 76,581	$ 57,499
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	58,249	53,443
Stock-based compensation expense	19,619	12,537
Deferred income taxes	13,744	21,624
Other, net	(244)	(22)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	1,119	(60,744)
Inventories	(73,338)	28,833
Prepaid expenses and other assets	2,827	(6,495)
Accounts payable	45,952	79,046
Accrued liabilities	(1,861)	19,588
Cash provided by operating activities	142,648	205,309
CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(55,282)	(58,013)
Proceeds from sales of property, plant and equipment	3,827	332
Cash paid for business combinations, net of cash acquired	0	(58,878)
Cash used in investing activities	(51,455)	(116,559)
CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES:
Repayments of long-term debt	(40,000)	(966)
Proceeds from revolving credit facility borrowings	246,600	1,609,700
Repayments of revolving credit facility borrowings	(271,600)	(1,604,700)
Net proceeds from stock issuances	22,691	5,752
Repurchases of common stock	(13,623)	(103,960)
Holdback payment for a prior business combination	(2,262)	0
Cash used in financing activities	(58,194)	(94,174)
Effect of exchange rate changes	1,240	490
Increase (decrease) in cash and cash equivalents	34,239	(4,934)
Cash and cash equivalents at beginning of period	398,288	412,253
Cash and cash equivalents at end of period	432,527	407,319
Cash paid during the period for:
Interest, net of capitalized interest	9,070	10,028
Income taxes, net of refunds	9,799	16,356
Acquisition-date fair value of non-interest bearing promissory notes issued in conjunction with business combinations (see Note 8)	$ 0	$ 30,105

Note 1 Basis of Presentation

Note 1 Basis of Presentation	6 Months Ended
	Apr. 01, 2017
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 second 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 Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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 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 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 March 2017, the FASB issued ASU 2017-07, "Compensation—Retirement Benefits (Topic 715)". This ASU requires the service costs component of net periodic pension costs to be presented in the same line item as other compensation costs and all other components of net periodic pension costs to be presented in the income statement as nonoperating expenses. This ASU is effective for the Company at the beginning of fiscal 2019 and should be applied retrospectively. A practical expedient permits the use of estimates for applying the retrospective presentation requirements. The Company does not expect the impact of adopting this new accounting standard to be significant. In January 2017, the FASB issued ASU 2017-04, "Intangibles—Goodwill and Other (Topic 350)". This ASU simplifies the test for goodwill impairment by eliminating Step 2 of the goodwill impairment test which requires a hypothetical purchase price allocation to measure goodwill. A goodwill impairment loss will instead be measured at the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill allocated to that reporting unit. This ASU is effective for the Company at the beginning of fiscal 2021 and early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is currently evaluating when to adopt this ASU. In January 2017, the FASB issued 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 the Company at the beginning of fiscal 2019, including interim periods within that reporting period, but early adoption is permitted. The Company is currently evaluating when to adopt this ASU. In November 2016, the FASB issued ASU 2016-18, "Statement of Cash Flows (Topic 230)". This ASU requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Companies will also be required to reconcile such total to amounts on the balance sheet and disclose the nature of the restrictions. This ASU is effective for the Company at the beginning of fiscal 2019, including interim periods within that annual period, but early adoption is permitted. The Company is currently evaluating when to adopt this ASU and does not expect the impact of adopting this new accounting standard to be significant. In October 2016, the FASB issued ASU 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 the Company at the beginning of fiscal 2019, including interim periods within that annual period, but early adoption is permitted. The Company is currently evaluating when to adopt this ASU and 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 expects to adopt this ASU at the beginning of fiscal 2018. Upon adoption, the Company expects to record a material increase to its deferred tax assets, with a corresponding increase to retained earnings. 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 the 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	6 Months Ended
	Apr. 01, 2017
Inventory, Net [Abstract]
Inventory Disclosure [Text Block]	Inventories Components of inventories were as follows: As of April 1, October 1, (In thousands) Raw materials $ 750,479 $ 671,240 Work-in-process 134,062 144,355 Finished goods 134,614 130,644 Total $ 1,019,155 $ 946,239

Note 3 Financial Instruments

Note 3 Financial Instruments	6 Months Ended
	Apr. 01, 2017
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 April 1, 2017 , the fair value of the Company's long-term debt, as estimated based primarily on quoted prices (Level 2 input), was approximately 2% higher than its carrying amount . 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 measured using Level 1 inputs. Defined benefit plan assets are measured at fair value only in the fourth quarter of each year. Other financial assets and financial liabilities measured at fair value on a recurring basis include foreign exchange contracts and contingent consideration, neither of which were material as of April 1, 2017 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 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 April 1, 2017 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 April 1, 2017 October 1, 2016 Derivatives Designated as Accounting Hedges: Notional amount (in thousands) $ 86,482 $ 110,242 Number of contracts 53 43 Derivatives Not Designated as Accounting Hedges: Notional amount (in thousands) $ 304,879 $ 313,558 Number of contracts 44 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 instrument 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 April 1, 2017 , AOCI related to foreign currency forward contracts was not material. The Company 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 income, 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 and was entered into as a hedge of foreign currency exposure associated with a long-term promissory note issued in connection with a previous business combination.

Note 4 Debt

Note 4 Debt	6 Months Ended
	Apr. 01, 2017
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Debt Long-term debt consisted of the following: As of April 1, October 1, (In thousands) Secured debt due 2017 $ — $ 40,000 Senior secured notes due 2019 375,000 375,000 Non-interest bearing promissory notes 22,178 22,475 Total long-term debt 397,178 437,475 Less: Current portion of non-interest bearing promissory notes 3,416 3,416 Long-term debt $ 393,762 $ 434,059 During the second quarter of 2017, the Company prepaid the balance of the amount due under its secured debt due 2017 for $40.0 million plus accrued interest. 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 April 1, 2017 , there were no borrowings and $13.4 million of letters of credit were outstanding under the Cash Flow Revolver. As of April 1, 2017 , 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 second quarter of 2019. Debt covenants The Company's Cash Flow Revolver requires the Company to comply with certain financial covenants. In addition, the Company's debt agreements contain a number of restrictive covenants, including 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 April 1, 2017 .

Note 5 Commitments and Continge

Note 5 Commitments and Contingencies	6 Months Ended
	Apr. 01, 2017
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 April 1, 2017 and October 1, 2016 , the Company had reserves of $41.7 million and $46.0 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 April 1, 2017 , 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 April 1, 2017 , 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 during the fourth quarter of 2017. Other Matters Two of the Company’s subsidiaries in Brazil are parties to a number of 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 the Company 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

Note 6 Income Tax	6 Months Ended
	Apr. 01, 2017
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 three months ended April 1, 2017 and April 2, 2016 was $25.0 million ( 44.1% of income before taxes) and $25.0 million ( 45.2% of income before taxes), respectively, and $35.0 million ( 31.4% of income before taxes) and $46.0 million ( 44.4% of income before taxes) for the six months ended April 1, 2017 and April 2, 2016 , respectively. The decrease in income tax expense in 2017 on a year-to-date basis was primarily attributable to a discrete tax benefit in the first quarter of 2017 resulting from the merger of two foreign entities, the surviving entity of which was, and continues to be, included in the Company’s U.S. federal consolidated tax group. This restructuring allowed the Company to recognize a U.S. deferred tax asset to reflect the federal deductibility of a foreign uncertain tax position that became recognizable upon the merger of the subsidiaries.

Note 7 Stockholders' Equity

Note 7 Stockholders' Equity	6 Months Ended
	Apr. 01, 2017
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 April 1, October 1, (In thousands) Foreign currency translation adjustments $ 89,820 $ 90,364 Unrealized holding losses on derivative financial instruments (348 ) (439 ) Unrecognized net actuarial losses and transition costs for benefit plans (22,148 ) (24,544 ) Total $ 67,324 $ 65,381 Stock Repurchase Program The Company did not repurchase any of its common stock in the open market during the six months ended April 1, 2017 and repurchased 5.3 million shares of its common stock in the open market for $103.4 million during the six months ended April 2, 2016 . As of April 1, 2017 , $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 six months ended April 1, 2017 and April 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 Acquisition

Note 8 Acquisition	6 Months Ended
	Apr. 01, 2017
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Acquisitions Fiscal 2016 Acquisitions During the second quarter of 2016, the Company purchased all of the outstanding stock of a privately-held provider of data storage software solutions targeted at OEM's and system integrators. Goodwill arising from the acquisition is tax deductible and reflects the Company's expectation that the acquisition will enable the Company to broaden its relationships with certain of its existing key customers, realize synergies associated with leveraging the acquisition to develop other software solutions to become a provider of a full storage systems solution, and leverage the acquiree's knowledgeable and experienced workforce. Goodwill and identifiable intangible assets are recorded in other non-current assets on the condensed consolidated balance sheets. Identifiable intangible assets are being amortized over three to four years. In addition, the Company acquired a manufacturing facility and related assets from a customer in the industrial end market during the second quarter of 2016. Consideration paid was less than the fair values of assets acquired, resulting in a bargain purchase gain of $1.6 million , net of tax, which was recorded in interest and other, net on the condensed consolidated statements of income in the second quarter of 2016. The Company reassessed, in the second quarter of 2016, the recognition and measurement of identifiable assets and liabilities acquired and concluded that all acquired assets and liabilities were recognized and that the valuation procedures and resulting estimates of fair values were appropriate. The bargain purchase gain resulted from the discount attributable to financing a portion of the purchase price with the acquiree using a non-interest bearing promissory note. Total consideration paid for the above acquisitions was $90.3 million , consisting of $60.2 million of cash and non-interest bearing promissory notes with a discounted value of $30.1 million as of the respective acquisition dates. The Company's allocation of the purchase price was based on management's estimate of the acquisition-date fair values of the tangible and identifiable intangible assets acquired and liabilities assumed, as follows: (In thousands) Current assets, including cash of $1.3 million $ 33,198 Noncurrent assets, including identifiable intangible assets of $7.3 million and goodwill of $30.8 million 62,632 Current liabilities (3,146 ) Noncurrent liabilities (725 ) Total $ 91,959 Bargain purchase gain, net of tax (1,642 ) Total consideration paid $ 90,317 There were no measurement-period adjustments for either of these two acquisitions during the one-year period subsequent to the date of acquisition.

Note 9 Business Segment, Geogra

Note 9 Business Segment, Geographic and Customer Information	6 Months Ended
	Apr. 01, 2017
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 Six Months Ended April 1, April 2, April 1, April 2, (In thousands) Gross sales: IMS $ 1,382,437 $ 1,314,504 $ 2,796,707 $ 2,553,772 CPS 349,637 343,337 700,711 688,985 Intersegment revenue (49,812 ) (46,667 ) (95,179 ) (96,869 ) Net sales $ 1,682,262 $ 1,611,174 $ 3,402,239 $ 3,145,888 Gross profit: IMS $ 100,644 $ 96,841 $ 203,281 $ 192,450 CPS 35,503 35,447 68,792 65,549 Total 136,147 132,288 272,073 257,999 Unallocated items (1) (2,937 ) 4,424 (6,701 ) 2,351 Total $ 133,210 $ 136,712 $ 265,372 $ 260,350 (1) For purposes of evaluating segment performance, management excludes certain items from its measure 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 Six Months Ended April 1, April 2, April 1, April 2, (In thousands) Net sales United States $ 303,514 $ 260,085 $ 603,390 $ 514,464 Mexico 469,572 445,009 943,732 929,979 China 313,740 383,967 635,479 751,226 Malaysia 194,467 117,930 405,658 164,538 Other international 400,969 404,183 813,980 785,681 Total $ 1,682,262 $ 1,611,174 $ 3,402,239 $ 3,145,888 Percentage of net sales represented by ten largest customers 53.5 % 53.9 % 52.6 % 52.2 % Number of customers representing 10% or more of net sales 2 1 2 1

Note 10 Earnings Per Share

Note 10 Earnings Per Share	6 Months Ended
	Apr. 01, 2017
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 Six Months Ended April 1, April 2, April 1, April 2, (In thousands, except per share data) Numerator: Net income $ 31,717 $ 30,361 $ 76,581 $ 57,499 Denominator: Weighted average common shares outstanding 74,761 75,477 74,156 76,605 Effect of dilutive stock options and restricted stock units 3,103 3,048 3,375 3,135 Denominator for diluted earnings per share 77,864 78,525 77,531 79,740 Net income per share: Basic $ 0.42 $ 0.40 $ 1.03 $ 0.75 Diluted $ 0.41 $ 0.39 $ 0.99 $ 0.72 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 Six Months Ended April 1, April 2, April 1, April 2, (In thousands) Potentially dilutive securities: Employee stock options — 1,531 — 1,550 Restricted stock units 4 64 4 4 Total 4 1,595 4 1,554

Note 11 Stock-Based Compensatio

Note 11 Stock-Based Compensation	6 Months Ended
	Apr. 01, 2017
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 Six Months Ended April 1, April 2, April 1, April 2, (In thousands) Stock options $ 380 $ 1,243 $ 930 $ 2,483 Restricted stock units, including performance based awards 7,262 7,242 18,689 10,054 Total $ 7,642 $ 8,485 $ 19,619 $ 12,537 Stock-based compensation expense was recognized as follows: Three Months Ended Six Months Ended April 1, April 2, April 1, April 2, (In thousands) Cost of sales $ 2,035 $ 1,932 $ 4,899 $ 3,337 Selling, general and administrative 5,376 6,422 14,216 8,988 Research and development 231 131 504 212 Total $ 7,642 $ 8,485 $ 19,619 $ 12,537 During the second quarter of 2017, the Company's stockholders approved the reservation of an additional 1.8 million shares of common stock for future issuance under the Company's 2009 Incentive Plan. As of April 1, 2017 , an aggregate of 11.1 million shares were authorized for future issuance under the Company's stock plans, of which 7.4 million of such shares were issuable upon exercise of outstanding options and delivery of shares upon vesting of restricted stock units and 3.7 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 (1,658 ) 14.22 Outstanding as of April 1, 2017 3,856 12.12 4.16 109,450 Vested and expected to vest as of April 1, 2017 3,843 12.08 4.15 109,205 Exercisable as of April 1, 2017 3,688 11.68 4.01 106,284 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 April 1, 2017 , unrecognized compensation expense of $1.8 million is expected to be recognized over a weighted average period of 1.4 years. Restricted Stock Units Activity with respect to the Company's restricted stock units was as follows: Number of Shares Weighted- Average Grant Date Fair Value ($) 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 1,023 33.15 Vested/Forfeited/Cancelled (1,499 ) 13.95 Outstanding as of April 1, 2017 3,522 25.90 1.76 142,645 Expected to vest as of April 1, 2017 2,782 25.02 1.65 112,654 As of April 1, 2017 , unrecognized compensation expense of $43.7 million is expected to be recognized over a weighted average period of 1.7 years. Additionally, as of April 1, 2017 , 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)	6 Months Ended
	Apr. 01, 2017
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 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 second 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 [Text Block]	Recent Accounting Pronouncements Adopted In August 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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 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 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 March 2017, the FASB issued ASU 2017-07, "Compensation—Retirement Benefits (Topic 715)". This ASU requires the service costs component of net periodic pension costs to be presented in the same line item as other compensation costs and all other components of net periodic pension costs to be presented in the income statement as nonoperating expenses. This ASU is effective for the Company at the beginning of fiscal 2019 and should be applied retrospectively. A practical expedient permits the use of estimates for applying the retrospective presentation requirements. The Company does not expect the impact of adopting this new accounting standard to be significant. In January 2017, the FASB issued ASU 2017-04, "Intangibles—Goodwill and Other (Topic 350)". This ASU simplifies the test for goodwill impairment by eliminating Step 2 of the goodwill impairment test which requires a hypothetical purchase price allocation to measure goodwill. A goodwill impairment loss will instead be measured at the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill allocated to that reporting unit. This ASU is effective for the Company at the beginning of fiscal 2021 and early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is currently evaluating when to adopt this ASU. In January 2017, the FASB issued 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 the Company at the beginning of fiscal 2019, including interim periods within that reporting period, but early adoption is permitted. The Company is currently evaluating when to adopt this ASU. In November 2016, the FASB issued ASU 2016-18, "Statement of Cash Flows (Topic 230)". This ASU requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Companies will also be required to reconcile such total to amounts on the balance sheet and disclose the nature of the restrictions. This ASU is effective for the Company at the beginning of fiscal 2019, including interim periods within that annual period, but early adoption is permitted. The Company is currently evaluating when to adopt this ASU and does not expect the impact of adopting this new accounting standard to be significant. In October 2016, the FASB issued ASU 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 the Company at the beginning of fiscal 2019, including interim periods within that annual period, but early adoption is permitted. The Company is currently evaluating when to adopt this ASU and 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 expects to adopt this ASU at the beginning of fiscal 2018. Upon adoption, the Company expects to record a material increase to its deferred tax assets, with a corresponding increase to retained earnings. 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 the 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)	6 Months Ended
	Apr. 01, 2017
Inventory, Net [Abstract]
Schedule of Inventory, Current [Table Text Block]	As of April 1, October 1, (In thousands) Raw materials $ 750,479 $ 671,240 Work-in-process 134,062 144,355 Finished goods 134,614 130,644 Total $ 1,019,155 $ 946,239

Note 3 Derivative Financial Ins

Note 3 Derivative Financial Instruments (Tables)	6 Months Ended
	Apr. 01, 2017
Financial Instruments, Owned, at Fair Value [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	As of April 1, 2017 October 1, 2016 Derivatives Designated as Accounting Hedges: Notional amount (in thousands) $ 86,482 $ 110,242 Number of contracts 53 43 Derivatives Not Designated as Accounting Hedges: Notional amount (in thousands) $ 304,879 $ 313,558 Number of contracts 44 46

Note 4 Debt (Tables)

Note 4 Debt (Tables)	6 Months Ended
	Apr. 01, 2017
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]	As of April 1, October 1, (In thousands) Secured debt due 2017 $ — $ 40,000 Senior secured notes due 2019 375,000 375,000 Non-interest bearing promissory notes 22,178 22,475 Total long-term debt 397,178 437,475 Less: Current portion of non-interest bearing promissory notes 3,416 3,416 Long-term debt $ 393,762 $ 434,059

Note 7 Stockholders' Equity (Ta

Note 7 Stockholders' Equity (Tables)	6 Months Ended
	Apr. 01, 2017
Stockholders' Equity Attributable to Parent [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	As of April 1, October 1, (In thousands) Foreign currency translation adjustments $ 89,820 $ 90,364 Unrealized holding losses on derivative financial instruments (348 ) (439 ) Unrecognized net actuarial losses and transition costs for benefit plans (22,148 ) (24,544 ) Total $ 67,324 $ 65,381

Note 8 Acquisition (Tables)

Note 8 Acquisition (Tables)	6 Months Ended
	Apr. 01, 2017
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	(In thousands) Current assets, including cash of $1.3 million $ 33,198 Noncurrent assets, including identifiable intangible assets of $7.3 million and goodwill of $30.8 million 62,632 Current liabilities (3,146 ) Noncurrent liabilities (725 ) Total $ 91,959 Bargain purchase gain, net of tax (1,642 ) Total consideration paid $ 90,317

Note 9 Business Segment, Geog24

Note 9 Business Segment, Geographic and Customer Information (Tables)	6 Months Ended
	Apr. 01, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended Six Months Ended April 1, April 2, April 1, April 2, (In thousands) Gross sales: IMS $ 1,382,437 $ 1,314,504 $ 2,796,707 $ 2,553,772 CPS 349,637 343,337 700,711 688,985 Intersegment revenue (49,812 ) (46,667 ) (95,179 ) (96,869 ) Net sales $ 1,682,262 $ 1,611,174 $ 3,402,239 $ 3,145,888 Gross profit: IMS $ 100,644 $ 96,841 $ 203,281 $ 192,450 CPS 35,503 35,447 68,792 65,549 Total 136,147 132,288 272,073 257,999 Unallocated items (1) (2,937 ) 4,424 (6,701 ) 2,351 Total $ 133,210 $ 136,712 $ 265,372 $ 260,350 (1) For purposes of evaluating segment performance, management excludes certain items from its measure 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 Six Months Ended April 1, April 2, April 1, April 2, (In thousands) Net sales United States $ 303,514 $ 260,085 $ 603,390 $ 514,464 Mexico 469,572 445,009 943,732 929,979 China 313,740 383,967 635,479 751,226 Malaysia 194,467 117,930 405,658 164,538 Other international 400,969 404,183 813,980 785,681 Total $ 1,682,262 $ 1,611,174 $ 3,402,239 $ 3,145,888 Percentage of net sales represented by ten largest customers 53.5 % 53.9 % 52.6 % 52.2 % Number of customers representing 10% or more of net sales 2 1 2 1

Note 10 Earnings Per Share (Tab

Note 10 Earnings Per Share (Tables)	6 Months Ended
	Apr. 01, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Six Months Ended April 1, April 2, April 1, April 2, (In thousands, except per share data) Numerator: Net income $ 31,717 $ 30,361 $ 76,581 $ 57,499 Denominator: Weighted average common shares outstanding 74,761 75,477 74,156 76,605 Effect of dilutive stock options and restricted stock units 3,103 3,048 3,375 3,135 Denominator for diluted earnings per share 77,864 78,525 77,531 79,740 Net income per share: Basic $ 0.42 $ 0.40 $ 1.03 $ 0.75 Diluted $ 0.41 $ 0.39 $ 0.99 $ 0.72
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended Six Months Ended April 1, April 2, April 1, April 2, (In thousands) Potentially dilutive securities: Employee stock options — 1,531 — 1,550 Restricted stock units 4 64 4 4 Total 4 1,595 4 1,554

Note 11 Stock-Based Compensat26

Note 11 Stock-Based Compensation (Tables)	6 Months Ended
	Apr. 01, 2017
Share-based Compensation [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	Three Months Ended Six Months Ended April 1, April 2, April 1, April 2, (In thousands) Stock options $ 380 $ 1,243 $ 930 $ 2,483 Restricted stock units, including performance based awards 7,262 7,242 18,689 10,054 Total $ 7,642 $ 8,485 $ 19,619 $ 12,537
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended Six Months Ended April 1, April 2, April 1, April 2, (In thousands) Cost of sales $ 2,035 $ 1,932 $ 4,899 $ 3,337 Selling, general and administrative 5,376 6,422 14,216 8,988 Research and development 231 131 504 212 Total $ 7,642 $ 8,485 $ 19,619 $ 12,537
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 (1,658 ) 14.22 Outstanding as of April 1, 2017 3,856 12.12 4.16 109,450 Vested and expected to vest as of April 1, 2017 3,843 12.08 4.15 109,205 Exercisable as of April 1, 2017 3,688 11.68 4.01 106,284
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 1,023 33.15 Vested/Forfeited/Cancelled (1,499 ) 13.95 Outstanding as of April 1, 2017 3,522 25.90 1.76 142,645 Expected to vest as of April 1, 2017 2,782 25.02 1.65 112,654

Note 2 Inventories (Details)

Note 2 Inventories (Details) - USD ($) $ in Thousands	Apr. 01, 2017	Oct. 01, 2016
Inventory, Net [Abstract]
Raw materials	$ 750,479	$ 671,240
Work-in-process	134,062	144,355
Finished goods	134,614	130,644
Total	$ 1,019,155	$ 946,239

Note 3 Foreign Currency Forward

Note 3 Foreign Currency Forward Contract (Details) $ in Thousands	6 Months Ended
	Apr. 01, 2017USD ($)	Oct. 01, 2016USD ($)
Derivative [Line Items]
Fair Value of Long-term Debt Instrument	the fair value of the Company's long-term debt, as estimated based primarily on quoted prices (Level 2 input), was approximately 2% higher than its carrying amount
Foreign Currency Forward | Derivatives Designated as Accounting Hedges:
Derivative [Line Items]
Derivative Notional Amount	$ 86,482	$ 110,242
Number of contracts	53	43
Maximum Length of Time Hedged	12 months
Foreign Currency Forward | Derivatives Not Designated as Accounting Hedges:
Derivative [Line Items]
Derivative Notional Amount	$ 304,879	$ 313,558
Number of contracts	44	46
Maximum Remaining Maturity	2 months

Note 4 Debt Schedule (Details)

Note 4 Debt Schedule (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2017	Oct. 01, 2016
Debt Instrument [Line Items]
Non-interest bearing promissory notes	$ 22,178	$ 22,475
Total long-term debt	397,178	437,475
Long-term debt	393,762	434,059
Debt due 2017
Debt Instrument [Line Items]
Extinguishment of Debt, Amount	40,000
Secured debt	0	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 promissory notes	$ 3,416	$ 3,416

Note 4 Line of Credit Facility

Note 4 Line of Credit Facility (Details) $ in Millions	6 Months Ended
	Apr. 01, 2017USD ($)
Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum Borrowing Capacity	$ 375
Long-term Line of Credit	0
Letters of Credit Outstanding, Amount	$ 13.4
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	Mar. 10, 2019

Note 5 Contingencies (Details)

Note 5 Contingencies (Details) - USD ($) $ in Millions	Apr. 01, 2017	Oct. 01, 2016
Loss Contingencies [Line Items]
Contingent Liability	$ 41.7	$ 46

Note 6 Income Tax (Details)

Note 6 Income Tax (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 01, 2017	Apr. 02, 2016	Apr. 01, 2017	Apr. 02, 2016
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 25,013	$ 25,033	$ 34,996	$ 46,000
Effective Income Tax Rate	44.10%	45.20%	31.40%	44.40%

Note 7 Stockholders' Equity (De

Note 7 Stockholders' Equity (Details) - USD ($) $ in Thousands	Apr. 01, 2017	Oct. 01, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Foreign currency translation adjustments	$ 89,820	$ 90,364
Unrealized holding losses on derivative financial instruments	(348)	(439)
Unrecognized net actuarial losses and transition costs for benefit plans	(22,148)	(24,544)
Total	$ 67,324	$ 65,381

Note 7 Stock Repurchase (Detail

Note 7 Stock Repurchase (Details) - USD ($) $ in Millions	6 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Stockholders' Equity Attributable to Parent [Abstract]
Treasury Stock, Shares, Acquired	0	5,300,000
Treasury Stock, Value, Acquired, Cost Method	$ 0	$ 103.4
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 Acquisition (Details)

Note 8 Acquisition (Details) - USD ($) $ in Thousands	6 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Business Acquisition [Line Items]
Promissory note description	non-interest bearing promissory notes
Current assets		$ 33,198
Noncurrent assets		62,632
Current liabilities		(3,146)
Noncurrent liabilities		(725)
Total		91,959
Bargain purchase gain		(1,642)
Consideration transferred		90,317
Cash portion of consideration transferred, net of cash acquired		60,212
Discounted Value of Notes Issued	$ 0	30,105
Cash Acquired from Acquisition		1,300
Goodwill		30,800
Intangible sssets, other than goodwill		$ 7,300
Storage Software Provider [Member]
Business Acquisition [Line Items]
Goodwill recognized, description	Goodwill arising from the acquisition is tax deductible and reflects the Company's expectation that the acquisition will enable the Company to broaden its relationships with certain of its existing key customers, realize synergies associated with leveraging the acquisition to develop other software solutions to become a provider of a full storage systems solution, and leverage the acquiree's knowledgeable and experienced workforce.
Manufacturing Facility [Member]
Business Acquisition [Line Items]
Bargain purchase gain, description	The bargain purchase gain resulted from the discount attributable to financing a portion of the purchase price with the acquiree using a non-interest bearing promissory note.
Minimum [Member] | Storage Software Provider [Member]
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life	3 years
Maximum [Member] | Storage Software Provider [Member]
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life	4 years

Note 9 Revenue and Gross Profit

Note 9 Revenue and Gross Profit by Segment (Details) $ in Thousands		3 Months Ended		6 Months Ended
		Apr. 01, 2017USD ($)	Apr. 02, 2016USD ($)	Apr. 01, 2017USD ($)	Apr. 02, 2016USD ($)
Segment Reporting Information [Line Items]
Net sales		$ 1,682,262	$ 1,611,174	$ 3,402,239	$ 3,145,888
Gross profit		133,210	136,712	$ 265,372	260,350
Number of Reportable Segments				1
Operating Segments
Segment Reporting Information [Line Items]
Gross profit		136,147	132,288	$ 272,073	257,999
Operating Segments | IMS
Segment Reporting Information [Line Items]
Net sales		1,382,437	1,314,504	2,796,707	2,553,772
Gross profit		100,644	96,841	203,281	192,450
Operating Segments | CPS
Segment Reporting Information [Line Items]
Net sales		349,637	343,337	700,711	688,985
Gross profit		35,503	35,447	68,792	65,549
Intersegment Eliminations
Segment Reporting Information [Line Items]
Net sales		(49,812)	(46,667)	(95,179)	(96,869)
Unallocated items (1)
Segment Reporting Information [Line Items]
Gross profit	[1]	$ (2,937)	$ 4,424	$ (6,701)	$ 2,351
[1]	For purposes of evaluating segment performance, management excludes certain items from its measure 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 9 Net Sales Information by

Note 9 Net Sales Information by Geographic Segment (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 01, 2017USD ($)	Apr. 02, 2016USD ($)	Apr. 01, 2017USD ($)	Apr. 02, 2016USD ($)
Revenues from External Customers [Line Items]
Net sales	$ 1,682,262	$ 1,611,174	$ 3,402,239	$ 3,145,888
Percentage of net sales represented by ten largest customers	53.50%	53.90%	52.60%	52.20%
Number of customers representing 10% or more of net sales	2	1	2	1
United States
Revenues from External Customers [Line Items]
Net sales	$ 303,514	$ 260,085	$ 603,390	$ 514,464
Mexico
Revenues from External Customers [Line Items]
Net sales	469,572	445,009	943,732	929,979
China
Revenues from External Customers [Line Items]
Net sales	313,740	383,967	635,479	751,226
Malaysia
Revenues from External Customers [Line Items]
Net sales	194,467	117,930	405,658	164,538
Other international
Revenues from External Customers [Line Items]
Net sales	$ 400,969	$ 404,183	$ 813,980	$ 785,681

Note 10 Earnings Per Share (Det

Note 10 Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 01, 2017	Apr. 02, 2016	Apr. 01, 2017	Apr. 02, 2016
Earnings Per Share [Line Items]
Net income	$ 31,717	$ 30,361	$ 76,581	$ 57,499
Weighted average shares used in computing per share amount:
Weighted average common shares outstanding	74,761	75,477	74,156	76,605
Effect of dilutive stock options and restricted stock units	3,103	3,048	3,375	3,135
Denominator for diluted earnings per share	77,864	78,525	77,531	79,740
Net income per share:
Basic	$ 0.42	$ 0.40	$ 1.03	$ 0.75
Diluted	$ 0.41	$ 0.39	$ 0.99	$ 0.72
Potentially dilutive securities [Abstract]
Potentially dilutive securities	4	1,595	4	1,554
Employee stock options
Potentially dilutive securities [Abstract]
Potentially dilutive securities	0	1,531	0	1,550
Restricted stock units
Potentially dilutive securities [Abstract]
Potentially dilutive securities	4	64	4	4

Note 11 Share-Based Compensatio

Note 11 Share-Based Compensation Arrangements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 01, 2017	Apr. 02, 2016	Apr. 01, 2017	Apr. 02, 2016
Allocation of Recognized Period Costs [Line Items]
Share-based Compensation	$ 7,642	$ 8,485	$ 19,619	$ 12,537
Stock options
Allocation of Recognized Period Costs [Line Items]
Share-based Compensation	380	1,243	930	2,483
Restricted stock units, including performance based awards
Allocation of Recognized Period Costs [Line Items]
Share-based Compensation	7,262	7,242	18,689	10,054
Cost of sales
Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	2,035	1,932	4,899	3,337
Selling, general and administrative
Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	5,376	6,422	14,216	8,988
Research and development
Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	$ 231	$ 131	$ 504	$ 212

Note 11 Shares Authorized for F

Note 11 Shares Authorized for Future Issuance and Available for Grant (Details) shares in Millions	3 Months Ended
	Apr. 01, 2017shares
Shares Authorized for Future Issuance and Available for Grant [Abstract]
Number of Additional Shares Authorized	1.8
Capital Shares Reserved for Future Issuance	11.1
Total number of stock options and unvested restricted stock units outstanding	7.4
Number of Shares Available for Future Grant	3.7

Note 11 Stock Options Outstandi

Note 11 Stock Options Outstanding Rollforward (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Apr. 01, 2017	Oct. 01, 2016
Options Outstanding [Roll Forward]
Outstanding, beginning	5,514
Granted	0
Exercised/Cancelled/Forfeited/Expired	(1,658)
Outstanding, ending	3,856	5,514
Vested and Expected to Vest	3,843
Exercisable	3,688
Weighted Average Exercise Price [Abstract]
Outstanding, beginning	$ 12.75
Granted	0
Exercised/Cancelled/Forfeited/Expired	14.22
Outstanding, ending	12.12	$ 12.75
Vested and expected to vest	12.08
Exercisable	$ 11.68
Weighted Average Remaining Contractual Term (Years) [Abstract]
Outstanding	4 years 1 month 28 days	4 years 1 month 7 days
Vested and Expected to Vest	4 years 1 month 26 days
Exercisable	4 years 5 days
Aggregate Intrinsic Value of In the Money Options [Abstract]
Outstanding	$ 109,450	$ 81,659
Vested and Expected to Vest	109,205
Exercisable	$ 106,284

Note 11 Restricted Stock Rollfo

Note 11 Restricted Stock Rollforward (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Apr. 01, 2017	Oct. 01, 2016
Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, beginning	3,998
Granted	1,023
Vested/Forfeited/Cancelled	(1,499)
Outstanding, ending	3,522	3,998
Expected to vest	2,782
Weighted Average Grant Date Fair Value Restricted Stock [Abstract]
Outstanding, beginning	$ 19.57
Granted	33.15
Vested/Forfeited/Cancelled	13.95
Outstanding, ending	25.90	$ 19.57
Expected to vest	$ 25.02
Weighted Average Remaining Contractual Term [Abstract]
Outstanding	1 year 9 months 3 days	1 year 4 months 7 days
Expected to vest	1 year 7 months 24 days
Restricted Stock Non vested Aggregate Intrinsic Value [Abstract]
Outstanding	$ 142,645	$ 110,183
Expected to vest	$ 112,654

Note 11 Unrecognized Stock Base

Note 11 Unrecognized Stock Based Compensation Expense (Details) $ in Millions	6 Months Ended
	Apr. 01, 2017USD ($)
Employee stock options
Unrecognized Compensation Cost and Weighted Average Period [Line Items]
Unrecognized compensation expense	$ 1.8
Weighted average period of recognition (years)	1 year 5 months
Restricted stock units
Unrecognized Compensation Cost and Weighted Average Period [Line Items]
Unrecognized compensation expense	$ 43.7
Weighted average period of recognition (years)	1 year 8 months 15 days
Performance Shares
Unrecognized Compensation Cost and Weighted Average Period [Line Items]
Unrecognized compensation expense	$ 14.3