Sanmina (SANM) 10-Q 31 Jul 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - $ / shares	9 Months Ended
	Jun. 29, 2024	Jul. 24, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 29, 2024
Document Transition Report	false
Entity File Number	0-21272
Entity Registrant Name	Sanmina Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0228183
Entity Address, Address Line One	2700 N. First St.,
Entity Address, City or Town	San Jose,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95134
City Area Code	(408)
Local Phone Number	964-3500
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Title of 12(b) Security	Common Stock
Trading Symbol	SANM
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		54,646,646
Entity Listing, Par Value Per Share	$ 0.01
Entity Central Index Key	0000897723
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--09-28
Entity Emerging Growth Company	false
Entity Small Business	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 29, 2024	Sep. 30, 2023
Current assets:
Cash and cash equivalents	$ 657,709	$ 667,570
Accounts and Other Receivables, Net, Current	1,154,834	1,230,771
Contract assets	414,805	445,757
Inventories	1,384,332	1,477,223
Prepaid expenses and other current assets	81,655	58,249
Total current assets	3,693,335	3,879,570
Property, plant and equipment, net	630,254	632,836
Deferred income tax assets	162,782	177,597
Other	177,160	183,965
Total assets	4,663,531	4,873,968
Current liabilities:
Accounts payable	1,433,803	1,612,833
Accrued liabilities	243,429	267,148
Accrued payroll and related benefits	126,824	127,406
Short-term debt, including current portion of long-term debt	17,500	25,945
Total current liabilities	1,821,556	2,033,332
Long-term liabilities:
Long-term debt	299,665	312,327
Other	200,972	209,684
Total long-term liabilities	500,637	522,011
Commitments and Contingencies (Note 7)
Stockholders’ equity	2,341,338	2,318,625
Total liabilities and stockholders’ equity	$ 4,663,531	$ 4,873,968

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Net sales	$ 1,841,430	$ 2,207,118	$ 5,550,823	$ 6,883,029
Cost of sales	1,687,891	2,023,910	5,081,687	6,313,246
Gross profit	153,539	183,208	469,136	569,783
Operating expenses:
Selling, general and administrative	61,720	68,828	195,704	192,948
Research and development	7,659	6,719	20,271	18,712
Restructuring	1,793	296	7,257	1,731
Total operating expenses	71,172	75,843	223,232	213,391
Operating income	82,367	107,365	245,904	356,392
Interest income	2,572	4,213	9,641	9,685
Interest Expense, Nonoperating	7,506	10,066	24,136	28,033
Other expense	(2,795)	(2,508)	(652)	(11,988)
Interest and other, net	(7,729)	(8,361)	(15,147)	(30,336)
Income before income taxes	74,638	99,004	230,757	326,056
Provision for income taxes	19,900	17,267	60,346	63,898
Net income before noncontrolling interest	54,738	81,737	170,411	262,158
Less: Net income attributable to noncontrolling interest	3,136	5,243	9,256	14,029
Net income attributable to common shareholders	$ 51,602	$ 76,494	$ 161,155	$ 248,129
Net income attributable to common shareholders per share:
Basic	$ 0.93	$ 1.32	$ 2.88	$ 4.28
Diluted	$ 0.91	$ 1.28	$ 2.82	$ 4.14
Weighted-average shares used in computing per share amounts:
Basic	55,466	57,987	55,862	57,995
Diluted	56,711	59,592	57,216	59,996

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Net income before noncontrolling interest	$ 54,738	$ 81,737	$ 170,411	$ 262,158
Other comprehensive income (loss), net of tax:
Change in foreign currency translation adjustments	(1,030)	(436)	754	6,807
Derivative financial instruments:
Change in net unrealized amount	972	6,856	1,075	14,263
Amount reclassified into net income before noncontrolling interest	(635)	(1,832)	(3,996)	(11,331)
Defined benefit plans:
Changes in unrecognized net actuarial losses and unrecognized transition costs	42	(58)	(42)	(966)
Amortization of actuarial losses and transition costs	106	222	318	784
Total other comprehensive income (loss), net of tax	(545)	4,752	(1,891)	9,557
Comprehensive income before noncontrolling interest	54,193	86,489	168,520	271,715
Less: Net income attributable to noncontrolling interest	3,136	5,243	9,256	14,029
Comprehensive income attributable to common shareholders	$ 51,057	$ 81,246	$ 159,264	$ 257,686

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholder's Equity Statement - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock and Additional Paid in Capital	Treasury Stock, Common	Accumulated Other Comprehensive Income	Accumulated Deficit	Noncontrolling Interest [Member]	Number of Common Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Common, Shares			52,766
Balance at Oct. 01, 2022		$ 6,381,348	$ (1,378,159)	$ 56,325	$ (3,239,978)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances under stock plans, Value		295
Stock-based compensation expense		37,460
APIC Sale of Noncontrolling Interest		78,169
Repurchases of Treasury Stock, Value			$ (73,579)
Total other comprehensive income (loss), net of tax	$ 9,557			9,557
Net income attributable to common shareholders	248,129				248,129
Noncontrolling Interest in Joint Ventures at Oct. 01, 2022						$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Noncontrolling Interest, Increase from Sale of Parent Equity Interest						132,132
Less: Net income attributable to noncontrolling interest	14,029					14,029
Noncontrolling Interest in Joint Ventures at Jul. 01, 2023						146,161
Common Stock, Shares, Issued at Oct. 01, 2022							110,160
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances under stock plans, shares							1,168
Common Stock, Shares, Issued at Jul. 01, 2023							111,328
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchases of treasury stock			1,343
Balance at Jul. 01, 2023		6,497,272	$ (1,451,738)	65,882	(2,991,849)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Common, Shares			53,127
Balance at Apr. 01, 2023		6,483,955	$ (1,399,666)	61,130	(3,068,343)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances under stock plans, Value		0
Stock-based compensation expense		13,317
APIC Sale of Noncontrolling Interest		0
Repurchases of Treasury Stock, Value			$ (52,072)
Total other comprehensive income (loss), net of tax	4,752			4,752
Net income attributable to common shareholders	76,494				76,494
Noncontrolling Interest in Joint Ventures at Apr. 01, 2023						140,918
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Noncontrolling Interest, Increase from Sale of Parent Equity Interest						0
Less: Net income attributable to noncontrolling interest	5,243					5,243
Noncontrolling Interest in Joint Ventures at Jul. 01, 2023						146,161
Common Stock, Shares, Issued at Apr. 01, 2023							111,285
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances under stock plans, shares							43
Common Stock, Shares, Issued at Jul. 01, 2023							111,328
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchases of treasury stock			982
Balance at Jul. 01, 2023		6,497,272	$ (1,451,738)	65,882	(2,991,849)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stockholders’ equity	2,265,728
Treasury Stock, Common, Shares			54,109
Stockholders’ equity	2,318,625
Treasury Stock, Common, Shares			54,718
Balance at Sep. 30, 2023		6,513,331	$ (1,485,252)	70,879	(2,930,008)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances under stock plans, Value		959
Stock-based compensation expense		41,918
APIC Sale of Noncontrolling Interest		0
Repurchases of Treasury Stock, Value			$ (188,684)
Total other comprehensive income (loss), net of tax	(1,891)			(1,891)
Net income attributable to common shareholders	161,155				161,155
Noncontrolling Interest in Joint Ventures at Sep. 30, 2023						149,675
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Noncontrolling Interest, Increase from Sale of Parent Equity Interest						0
Less: Net income attributable to noncontrolling interest	9,256					9,256
Noncontrolling Interest in Joint Ventures at Jun. 29, 2024						158,931
Common Stock, Shares, Issued at Sep. 30, 2023							111,550
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances under stock plans, shares							1,341
Common Stock, Shares, Issued at Jun. 29, 2024							112,891
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchases of treasury stock			3,530
Balance at Jun. 29, 2024		6,556,208	$ (1,673,936)	68,988	(2,768,853)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Common, Shares			57,400
Balance at Mar. 30, 2024		6,540,860	$ (1,618,641)	69,533	(2,820,455)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances under stock plans, Value		666
Stock-based compensation expense		14,682
APIC Sale of Noncontrolling Interest		0
Repurchases of Treasury Stock, Value			$ (55,295)
Total other comprehensive income (loss), net of tax	(545)			(545)
Net income attributable to common shareholders	51,602				51,602
Noncontrolling Interest in Joint Ventures at Mar. 30, 2024						155,795
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Noncontrolling Interest, Increase from Sale of Parent Equity Interest						0
Less: Net income attributable to noncontrolling interest	3,136					3,136
Noncontrolling Interest in Joint Ventures at Jun. 29, 2024						$ 158,931
Common Stock, Shares, Issued at Mar. 30, 2024							112,848
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances under stock plans, shares							43
Common Stock, Shares, Issued at Jun. 29, 2024							112,891
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchases of treasury stock			848
Balance at Jun. 29, 2024		$ 6,556,208	$ (1,673,936)	$ 68,988	$ (2,768,853)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stockholders’ equity	$ 2,341,338
Treasury Stock, Common, Shares			58,248

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES:
Net income before noncontrolling interest	$ 170,411	$ 262,158
Adjustments to reconcile net income before noncontrolling interest to cash provided by (used in) operating activities:
Depreciation and amortization	90,764	87,716
Stock-based compensation expense	41,918	37,460
Deferred income taxes	14,614	21,232
Other, net	(5)	284
Changes in operating assets and liabilities:
Accounts receivable	77,508	(137,712)
Contract assets	30,952	16,576
Inventories	93,676	199,406
Prepaid expenses and other assets	(9,074)	(27,492)
Accounts payable	(179,710)	(308,579)
Accrued liabilities	(42,713)	7,262
Cash provided by operating activities	288,341	158,311
CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(86,599)	(152,155)
Other, net	(1,900)	(2,000)
Cash used in investing activities	(88,499)	(154,155)
CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES:
Holdback paid in connection with previous business combination	0	(8,558)
Repayments of borrowings	(21,570)	(13,125)
Proceeds from revolving credit facility borrowings	1,932,400	2,426,300
Repayments of revolving credit facility borrowings	(1,932,400)	(2,426,300)
Net proceeds from stock issuances	959	295
Repurchases of common stock	(188,684)	(73,579)
Proceeds from sale of noncontrolling interest	0	215,799
Cash provided by (used in) financing activities	(209,295)	120,832
Effect of exchange rate changes	(408)	1,743
Increase (decrease) in cash and cash equivalents	(9,861)	126,731
Cash and cash equivalents at beginning of period	667,570	529,857
Cash and cash equivalents at end of period	657,709	656,588
Cash paid during the period for:
Interest, net of capitalized interest	21,987	24,908
Income taxes, net of refunds	52,728	45,053
Unpaid purchases of property, plant and equipment at the end of period	$ 23,935	$ 25,938

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jun. 29, 2024	Sep. 30, 2023
Accounts Receivable, Allowance for Credit Loss, Current	$ 8,000	$ 8,000

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Jun. 29, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Basis of Presentation The accompanying 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 condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended September 30, 2023 included in the Company’s Annual Report on Form 10-K filed with the SEC on November 16, 2023. The condensed consolidated financial statements include all accounts of the Company, its wholly owned subsidiaries and subsidiaries in which the Company has a controlling financial interest. All intra-company accounts and transactions have been eliminated. Noncontrolling interest represents a noncontrolling investor’s interest in the results of operations of subsidiaries that the Company controls and consolidates. The preparation of financial statements requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ materially from these estimates. Results of operations for the third quarter of 2024 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 2024 and 2023 are each 52-week years. All references to years relate to fiscal years unless otherwise noted. Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which will require the Company to disclose information about its reportable segment’s significant expenses and other segment items on an interim and annual basis. The disclosure requirements are effective for the Company in fiscal 2025, and for interim periods within the Company’s fiscal 2026, with early adoption permitted. The Company is currently evaluating the impact ASU 2023-07 will have on its financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which will require the Company, on an annual basis, to provide disclosure of specific categories in its effective income tax rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for the Company in fiscal 2026, with early adoption permitted. The Company is currently evaluating the impact ASU 2023-09 will have on its financial statement disclosures.

REVENUE RECOGNITION

REVENUE RECOGNITION	9 Months Ended
	Jun. 29, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Revenue Recognition The Company has determined that revenue for the majority of its contracts is required to be recognized on an over-time basis. This is primarily due to the fact that the Company does not have an alternative use for the end products it manufactures for its customers and has an enforceable right to payment, including a reasonable profit, for work-in-progress upon a customer’s cancellation of a contract for convenience. In certain circumstances, the Company recognizes over time because its customer simultaneously receives and consumes the benefits provided by the Company’s services or the Company’s customer controls the end product as the Company performs manufacturing services (continuous transfer of control). For these contracts, revenue is recognized on an over time basis using the cost-to-cost method (ratio of costs incurred to date to total estimated costs at completion) which the Company believes best depicts the transfer of control to the customer. Revenue streams for which revenue is recognized on an over time basis include sales of vertically integrated manufacturing solutions (integrated manufacturing solutions and components); logistics and repair services; design, development and engineering services; and defense and aerospace programs. At least 95% of the Company’s revenue is recognized on an over time basis, which is as products are manufactured or services are performed. Because of this, and the fact that there is no work-in-progress or finished goods inventory associated with contracts for which revenue is recognized on an over-time basis, 99% or more of the Company’s inventory at the end of a given period is in the form of raw materials. For contracts for which revenue is required to be recognized at a point-in-time, the Company recognizes revenue when it has transferred control of the related goods, which generally occurs upon shipment or delivery of the goods to the customer. Application of the cost-to-cost method for government contracts in the Company’s Defense and Aerospace division requires the use of significant judgments with respect to estimated materials, labor and subcontractor costs included in the total estimated costs at completion. Additionally, the Company evaluates whether contract modifications for claims have been approved and, if so, estimates the amount, if any, of variable consideration that can be included in the transaction price of the contract. This division is an operating segment whose results are combined with thirteen other operating segments and reported under Components, Products and Services (“CPS”) for segment reporting purposes. Changes in the Company’s estimates of transaction price and/or costs to complete result in a favorable or unfavorable impact to revenue and operating income. The impact of changes in estimates on revenue and operating income resulting from application of the cost-to-cost method for recognizing revenue was as follows: Three Months Ended Nine Months Ended June 29, July 1, June 29, July 1, Revenue (In thousands) Favorable $ 5,270 $ 2,115 $ 15,980 $ 5,950 Unfavorable (3,795) (10,341) (10,522) (19,850) Net $ 1,475 $ (8,226) $ 5,458 $ (13,900) Three Months Ended Nine Months Ended June 29, July 1, June 29, July 1, Operating income (In thousands) Favorable $ 7,547 $ 2,704 $ 23,248 $ 7,079 Unfavorable (6,385) (21,028) (16,757) (41,062) Net $ 1,162 $ (18,324) $ 6,491 $ (33,983) Contract Assets A contract asset is recognized when the Company has recognized revenue, but has not issued an invoice to its customer for payment. Contract assets are classified separately on the condensed consolidated balance sheets and transferred to accounts receivable when rights to payment become unconditional. Because of the Company’s short manufacturing cycle times, the transfer from contract assets to accounts receivable generally occurs within the next fiscal quarter. The following table presents revenue disaggregated by segment, market sector and geography. Three Months Ended Nine Months Ended June 29, July 1, June 29, July 1, (In thousands) Segments: Integrated Manufacturing Solutions (“IMS”) $ 1,468,259 $ 1,811,530 $ 4,418,009 $ 5,657,800 CPS 373,171 395,588 1,132,814 1,225,229 Total $ 1,841,430 $ 2,207,118 $ 5,550,823 $ 6,883,029 End Markets: Industrial, Medical, Defense and Aerospace, and Automotive $ 1,181,489 $ 1,344,068 $ 3,663,208 $ 4,045,939 Communications Networks and Cloud Infrastructure 659,941 863,050 1,887,615 2,837,090 Total $ 1,841,430 $ 2,207,118 $ 5,550,823 $ 6,883,029 Geography: Americas (1) $ 966,321 $ 1,131,925 $ 2,885,983 $ 3,380,454 APAC (2) 638,991 743,372 1,843,828 2,511,205 EMEA 236,118 331,821 821,012 991,370 Total $ 1,841,430 $ 2,207,118 $ 5,550,823 $ 6,883,029 (1) Mexico represents approximately 60% and 65% of Americas net sales for the three months ended June 29, 2024 and July 1, 2023, respectively, and the U.S. represents approximately 35% of Americas net sales both the three months ended June 29, 2024 and July 1, 2023. Mexico represents approximately 60% and 70% of Americas net sales and the U.S. represents approximately 35% and 30% of Americas net sales for the nine months ended June 29, 2024 and July 1, 2023, respectively. (2) Malaysia represents approximately 30% of APAC net sales for both the three and nine months ended June 29, 2024 and approximately 25% of APAC net sales for both the three and nine months ended July 1, 2023. As an electronics manufacturing services company, the Company primarily provides manufacturing and related services for products built to its customers’ unique specifications. Therefore, it is impracticable for the Company to provide revenue from external customers for each product and service it provides. Sales to the Company’s ten largest customers typically represent approximately 50% of net sales. Net sales from these customers are derived from multiple segments. The following table presents the percentage of total net sales to each significant customer that represented 10% or more of the Company’s net sales. Three Months Ended Nine Months Ended June 29, July 1, June 29, July 1, Nokia: IMS * 10.7 % * 13.9 % CPS * 0.6 % * 0.6 % Total * 11.3 % * 14.5 % Motorola: IMS 9.8 % * 10.0 % * CPS 0.2 % * 0.2 % * Total 10.0 % * 10.2 % * * Less than 10% of the Company’s net sales.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	9 Months Ended
	Jun. 29, 2024
Financial Instruments [Abstract]
Derivatives and Fair Value [Text Block]	Financial Instruments Fair Value Measurements Fair Value of Financial Instruments The fair values of cash equivalents (represents 5% of cash and cash equivalents), accounts receivable, accounts payable and short-term debt approximate carrying values due to the short-term duration of these instruments. Additionally, the fair value of variable rate long-term debt approximates carrying value as of June 29, 2024. The Company’s cash equivalents are classified as Level 1 in the fair value hierarchy. 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. Deferred compensation plan assets and liabilities were $45 million and $38 million as of June 29, 2024 and September 30, 2023, respectively. Defined benefit plan assets were $17 million as of September 30, 2023 and 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 interest rate swaps, which are both measured using Level 2 inputs. Interest rate swaps are valued based on a discounted cash flow analysis that incorporates observable market inputs such as interest rate yield curves and credit spreads. For currency contracts, inputs include foreign currency spot and forward rates and interest rates at commonly quoted intervals. Foreign exchange contracts were not material as of June 29, 2024 or September 30, 2023. Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis Other non-financial assets, such as goodwill and other long-lived assets, are measured at fair value as of the date such assets are acquired or in the period an impairment is recorded. Offsetting Derivative Assets and Liabilities The Company has entered into master netting arrangements with each of its derivative counterparties that allow 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 condensed consolidated balance sheets. The following table presents the location and fair values of derivative financial instruments included in our condensed consolidated balance sheets. As of June 29, September 30, (In thousands) Derivatives Designated as Accounting Hedges: Prepaid expenses and other current assets $ 4,787 $ 6,179 Other assets $ 3,885 $ 6,351 Accrued liabilities $ 117 $ 213 Derivatives Not Designated as Accounting Hedges: Prepaid expenses and other current assets $ 393 $ 1,164 Accrued liabilities $ 6,532 $ 4,685 Derivative Instruments Foreign Exchange Rate Risk 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 India, Mexico and China. The Company had the following outstanding foreign currency forward contracts that were entered into to hedge foreign currency exposures: As of June 29, September 30, Derivatives Designated as Accounting Hedges: Notional amount (in thousands) $ 118,569 $ 125,758 Number of contracts 50 50 Derivatives Not Designated as Accounting Hedges: Notional amount (in thousands) $ 385,591 $ 338,283 Number of contracts 42 42 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 non-functional currency sales and (2) forecasted non-functional currency materials, labor, overhead and other expenses. 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 Company excludes the change in the fair value of the contract related to the changes in the difference between the spot price and the forward price from its assessment of hedge effectiveness and recognizes these amounts, which are primarily related to time value, in earnings over the life of the derivative instrument. Gains or losses on the derivative not caused by changes in time value are 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 or loss recognized in Other Comprehensive Income on derivative instruments and the amount of gain or loss reclassified from AOCI into income were not material for any period presented herein. 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, in the condensed consolidated statements of income. The amount of gains or losses associated with these forward contracts was 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 currency gains and losses on the underlying hedged items. In addition to the contracts disclosed in the table above, the Company has numerous contracts that have been closed from an economic and financial accounting perspective and will settle early in the first month of the following quarter. Since these offsetting contracts do not expose the Company to risk of fluctuations in exchange rates, these contracts have been excluded from the above table. Interest Rate Risk The Company enters into forward interest rate swap agreements with independent counterparties to partially hedge the variability in cash flows due to changes in the Secured Overnight Financing Rate benchmark interest rate (“SOFR”) associated with anticipated variable rate borrowings. These interest rate swaps have a maturity date of September 27, 2027 and effectively convert a portion of the Company’s variable interest rate obligations to fixed interest rate obligations. These swaps are accounted for as cash flow hedges under ASC Topic 815, Derivatives and Hedging

DEBT

DEBT	9 Months Ended
	Jun. 29, 2024
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Debt Long-term debt consisted of the following: As of June 29, September 30, (In thousands) Term Loan Due 2027, net of issuance costs $ 317,165 $ 329,827 Less: Current portion of Term Loan Due 2027 17,500 17,500 Long-term debt $ 299,665 $ 312,327 Term Loan maturities by fiscal year are as follows: As of June 29, (In thousands) 2025 17,500 2026 21,875 2027 280,000 $ 319,375 Revolving Credit Facility In 2022, the Company entered into a Fifth Amended and Restated Credit Agreement (the “Credit Agreement”), that provides for an $800 million revolving credit facility and drew a $350 million secured term loan (“Term Loan Due 2027”). Subject to the satisfaction of certain conditions, including obtaining additional commitments from existing and/or new lenders, the Company may increase the revolving commitment up to an additional $200 million. Loans under the Credit Agreement bear interest, at the Company’s option, at either the SOFR or a base rate, in each case plus a spread determined based on the Company’s credit rating. Interest on the loans is payable quarterly in arrears with respect to base rate loans and at the end of an interest period (or at three-month intervals if the interest period exceeds three months) in the case of SOFR loans. The outstanding principal amount of all loans under the Credit Agreement, including, the Term Loan Due 2027, together with accrued and unpaid interest, is due on September 27, 2027. The Company is required to repay a portion of the principal amount of the Term Loan Due 2027 equal to 1.25% of the principal in quarterly installments. Certain of the Company’s domestic subsidiaries are guarantors in respect of the Credit Agreement. The Company and the subsidiary guarantors’ obligations under the Credit Agreement are secured by a lien on substantially all of their respective assets (excluding real property), including cash, accounts receivable and the shares of certain Company subsidiaries, subject to certain exceptions. There were no borrowings outstanding under the Credit Agreement as of June 29, 2024 or September 30, 2023. Additionally, as of June 29, 2024, $14 million of letters of credit was outstanding under the Credit Agreement and $786 million was available to borrow. Foreign Short-term Borrowing Facilities As of June 29, 2024, certain of the Company’s foreign subsidiaries had a total of $71 million of uncommitted short-term borrowing facilities available, under which no borrowings were outstanding. Debt Covenants The Credit Agreement requires the Company to comply with certain financial covenants, namely a maximum consolidated leverage ratio and a minimum interest coverage ratio, in both cases measured on the basis of a trailing 12-month look-back period. 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 and paying dividends, subject to certain exceptions. The Company was in compliance with these covenants as of June 29, 2024.

LEASES

LEASES	9 Months Ended
	Jun. 29, 2024
Leases [Abstract]
Lessee, Operating Leases	Leases The Company’s leases consist primarily of operating leases for buildings and land and have initial lease terms of up to 44 years. Certain of these leases contain an option to extend the lease term for additional periods or to terminate the lease after an initial non-cancelable term. Renewal options are considered in the measurement of the Company’s initial lease liability and corresponding right-of-use (“ROU”) assets only if it is reasonably certain that the Company will exercise such options. Leases with lease terms of twelve months or less are not recorded on the Company’s balance sheet. ROU assets and lease liabilities recorded in the condensed consolidated balance sheets are as follows: As of June 29, September 30, (In thousands) Other assets $ 82,404 $ 95,750 Accrued liabilities $ 22,418 $ 22,344 Other long-term liabilities 47,936 60,663 Total lease liabilities $ 70,354 $ 83,007 Weighted average remaining lease term (in years) 11.23 12.97 Weighted average discount rate 4.1 % 3.9 % Lease expense and supplemental cash flow information related to operating leases are as follows: Three Months Ended Nine Months Ended June 29, July 1, June 29, July 1, (In thousands) Operating lease expense (1) $ 7,189 $ 8,976 $ 23,434 $ 26,541 Nine Months Ended June 29, July 1, (In thousands) Cash paid for operating lease liabilities $ 19,499 $ 18,023 (1) Includes immaterial amounts of short-term leases, variable lease costs and sublease income. Future lease payments under non-cancelable operating leases as of June 29, 2024, by fiscal year, are as follows: Operating Leases (In thousands) Remainder of 2024 $ 6,598 2025 24,134 2026 18,587 2027 14,438 2028 4,623 Thereafter 8,828 Total lease payments 77,208 Less: imputed interest 6,854 Total $ 70,354

ACCOUNTS RECEIVABLE SALE PROGRA

ACCOUNTS RECEIVABLE SALE PROGRAM	9 Months Ended
	Jun. 29, 2024
Transfers and Servicing [Abstract]
Transfers and Servicing of Financial Assets [Text Block]	Accounts Receivable Sale Program The Company is a party to a Receivables Purchase Agreement, as amended (the “RPA”) with certain third-party banking institutions for the sale of trade receivables generated from sales to certain customers, subject to acceptance by, and a funding commitment from, the banks that are party to the RPA. Trade receivables sold pursuant to the RPA are serviced by the Company. In addition to the RPA, the Company has the option to participate in trade receivables sales programs that have been implemented by certain of the Company’s customers, as in effect from time to time. The Company does not service trade receivables sold under these other programs. Under each of the programs noted above, the Company sells its entire interest in a trade receivable for 100% of face value, less a discount. During the nine months ended June 29, 2024 and July 1, 2023, the Company sold approximately $1 billion and $2 billion, respectively, of accounts receivable under these programs. Upon sale, these receivables are removed from the condensed consolidated balance sheets and cash received is presented as cash provided by operating activities in the condensed consolidated statements of cash flows. Discounts on sold receivables were $7 million and $16 million for the nine months ended June 29, 2024 and July 1, 2023, respectively, and were recorded in other expense in the condensed consolidated statements of income. As of June 29, 2024 and September 30, 2023, $127 million and $162 million, respectively, of accounts receivable sold under the RPA and subject to servicing by the Company remained outstanding and had not yet been collected. The Company’s sole risk with respect to receivables it services is with respect to commercial disputes regarding such receivables. Commercial disputes include billing errors, returns and similar matters. To date, the Company has not been required to repurchase any receivable it has sold due to a commercial dispute. Additionally, the Company is required to remit amounts collected as a servicer under the RPA on a weekly basis to the financial institutions that purchased the receivables. As of June 29, 2024 and September 30, 2023, $7 million and $33 million, respectively, had been collected but not yet remitted. These amounts are classified in accrued liabilities on the condensed consolidated balance sheets.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Jun. 29, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Commitments and Contingencies From time to time, the Company is a party to litigation, claims and other contingencies, including environmental, regulatory 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 June 29, 2024 and September 30, 2023, the Company had estimated liabilities of $37 million and $34 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 condensed consolidated balance sheets. Legal Proceedings Environmental Matters The Company is subject to various federal, state, local and foreign laws and regulations and administrative orders concerning environmental protection, including those addressing the discharge of pollutants into the environment, the management and disposal of hazardous substances, the cleanup of contaminated sites, the materials used in products, and the recycling, treatment and disposal of hazardous waste. In June 2008, the Company was named by the Orange County Water District in a suit alleging that a predecessor company’s actions at a plant the Company sold in 1998 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. In April 2013, all claims against the Company were dismissed. The plaintiff appealed this dismissal and the Court of Appeal reversed the judgment in August 2017, remanding the case back to the Superior Court of California for trial. The trial against the Company and several other defendants commenced in April 2021 and the submission of evidence concluded in May 2022. On April 3, 2023, the court published a statement of decision finding the Company and other remaining defendants liable for certain past investigation costs incurred by the plaintiff. Subsequent proceedings to assess the Company’s and other defendants’ liability for the plaintiff’s future remediation and other costs, including attorneys’ fees, were expected. However, without admitting any liability, in June 2024, the Company and plaintiff agreed in principle to settle this matter and all pending litigation in exchange for the Company’s payment to the plaintiff of $3 million. The settlement remains subject to customary documentation and a good faith settlement determination by the court, which is expected by November 2024. Other Matters In December 2019, the Company sued a former customer, Dialight plc (“Dialight”), in the United States District Court for the Southern District of New York to collect unpaid accounts receivable and net obsolete inventory obligations now totaling $9 million (exclusive of interest and attorneys’ fees). On the same day the Company filed its suit, Dialight commenced its own action in the same court. As the case now stands, Dialight alleges that the Company fraudulently misrepresented its capabilities to induce Dialight to enter into a Manufacturing Services Agreement (“MSA”) and then allegedly committed multiple willful breaches of contract when performing under the MSA. Dialight is currently seeking compensatory damages of approximately $93 million - an amount the Company considers vastly overstated and subject to a contractual limitation of liability that, subject to certain standard warranty and equipment liability carve-outs, caps any Dialight recovery at a maximum of $2 million - plus punitive damages, interest and attorneys’ fees. The Company continues to vigorously prosecute its claims against Dialight. Further, the Company strongly disagrees with Dialight’s allegations and is vigorously defending against Dialight’s claims. A trial in this matter, originally scheduled for July 2024, will be held in September 2024. In May 2023, the Company and its SCI Technology, Inc. subsidiary (“SCI”) received Civil Investigative Demands (“CIDs”) from the United States Department of Justice (“DOJ”) pursuant to the civil False Claims Act (“FCA”). The stated purpose of the CIDs—a form of subpoena requiring responses to written interrogatories and the production of documents relating to certain contracts, projects, proposals and business activities of SCI going back to 2010—is to determine whether there is or has been a violation of the FCA with respect to the provision of products and services to the government. These CIDs supplement several CIDs relating to the same subject matter served upon SCI and certain current and former SCI and Sanmina employees beginning in August 2020, pursuant to which SCI produced documents and information and certain of the current and former employees provided oral testimony. The Company and SCI cooperated with the DOJ investigation. On May 13, 2024, the Company learned that United States of America ex rel. Carl R. Eckert v. SCI Technology, Inc. et al. (the “Eckert Qui Tam Suit”) had been filed under seal in June 2020, and is now unsealed. The Eckert Qui Tam Suit, filed by a former SCI employee, alleges on behalf of the United States 16 FCA claims that relate substantially to the same contracts and issues that the DOJ has investigated over the past four years. On May 13, 2024, the Company also learned that the DOJ had filed a notice in the Eckert Qui Tam Suit stating that, while its investigation would continue, it was declining to intervene at the current time. The Company and SCI intend to defend vigorously against the claims made in the Eckert Qui Tam Suit. The Company is unable to predict the ultimate outcome of the Eckert Qui Tam Suit, although a loss is currently not considered to be probable or estimable. On November 14, 2023, Gerardo Ramirez, an employee at the Company’s Newark, California plant, filed two lawsuits against the Company in the Alameda County Superior Court (together, the “Ramirez Cases”). The first, a putative class action (as amended in February 2024), alleges violations of various California Labor Code and Wage Order requirements, including provisions governing overtime, meal and rest periods, minimum wage requirements, payment of wages during employment, wage statements, payroll records, and reimbursement of business expenses. The class action complaint seeks certification of a class of all current and former non-exempt employees who worked for the Company within the State of California at any time between March 1, 2021 and final judgment, as well as unspecified damages, penalties, restitution, attorneys’ fees, pre-judgment interest, and costs of suit. The second action, a complaint under California’s Private Attorneys General Act of 2004 (Labor Code §§ 2698 et seq.) (“PAGA”), alleges substantially similar violations and a violation of the provision governing payment of final wages and seeks penalties individually and on behalf of the State of California and other “aggrieved employees,” along with attorneys’ fees and costs. On May 16, 2024 and June 14, 2024, former employee Carlos Lobatos filed class and PAGA actions in the Santa Clara County Superior Court (the “Lobatos Cases”) alleging violations substantially similar to the violations in the Ramirez Cases, and, in the case of the Lobatos PAGA action, additional violations related to sick leave, suitable rest facilities, seating, failure to retain and provide employment and payroll records, reporting time pay, day of rest rules, payroll deductions, paid time off, and various unlawful employment practices. The Lobatos class action complaint seeks certification of a class of all current and former non-exempt employees who worked for the Company (directly or via a staffing agency) within the State of California at any time between May 16, 2020 and final judgment, as well as unspecified damages, penalties, restitution, attorneys’ fees, pre-judgment interest, and costs of suit. The Company expects the Lobatos Cases to be related to or consolidated with the Ramirez Cases and intends to defend all such cases vigorously. For each of the pending matters noted above, the Company is unable to reasonably estimate a range of possible loss at this time. In addition, from time to time, the Company may become involved in routine legal proceedings, demands, claims, threatened litigation and regulatory inquiries and investigations that arise in the normal course of our business. The Company records liabilities for such matters when a loss becomes probable and the amount of loss can be reasonably estimated. The ultimate outcome of any litigation is uncertain and unfavorable outcomes could have a negative impact on the Company’s results of operations and financial condition.

INCOME TAX

INCOME TAX	9 Months Ended
	Jun. 29, 2024
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 Company’s provision for income taxes for the three months ended June 29, 2024 and July 1, 2023 was $20 million (27% of income before taxes) and $17 million (17% of income before taxes), respectively. The Company’s provision for income taxes for the nine months ended June 29, 2024 and July 1, 2023 was $60 million (26% of income before taxes) and $64 million (20% of income before taxes), respectively. The tax rate was lower for the three and nine months ended July 1, 2023 primarily due to higher discrete items, including recognized tax benefits from the release of certain foreign tax reserves due to lapse of time and expiration of statutes of limitations. As a result of an audit by the Internal Revenue Service (“IRS”) for fiscal 2008 through 2010, the Company received a Revenue Agent’s Report (“RAR”) on November 17, 2023 asserting an underpayment of tax of approximately $8 million for fiscal 2009. The asserted underpayment results from the IRS’s proposed disallowance of a $503 million worthless stock deduction in fiscal 2009. Such disallowance, if upheld, would reduce the Company’s available net operating loss carryforwards and result in additional tax and interest attributable to fiscal 2021 and later years, which could be material. The Company disagrees with the IRS’s position as asserted in the RAR and intends to vigorously contest this matter through the applicable IRS administrative and judicial procedures, as appropriate. The Company does not expect resolution of this matter within twelve months and cannot predict with any certainty the timing of such resolution. Although the final resolution of this matter remains uncertain, the Company continues to believe that it is more likely than not the Company’s tax position will be sustained. However, an unfavorable resolution of this matter could have a material adverse impact on the Company’s condensed consolidated financial statements. The Organization for Economic Co-operation and Development (“OECD”), an international association of 38 countries including the United States, has proposed changes to numerous long-standing tax principles, namely, its Pillar Two framework, which imposes a global minimum corporate tax rate of 15%. Various countries have enacted or have announced plans to enact new tax laws to implement the global minimum tax and where enacted, the rules begin to be effective for the Company in fiscal 2025. The Pillar Two rules are considered an alternative minimum tax and therefore deferred taxes would not be recognized or adjusted for the estimated effects of the future minimum tax. The adoption and effective dates of these rules may vary by country and could increase tax complexity and uncertainty and may adversely affect the Company’s provision for income taxes. The Company does not expect any impact from these tax law changes in fiscal 2024 and will continue to evaluate its impact for fiscal 2025.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Jun. 29, 2024
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	Stockholders’ Equity Accumulated Other Comprehensive Income Accumulated other comprehensive income, net of tax as applicable, consisted of the following: As of June 29, September 30, (In thousands) Foreign currency translation adjustments $ 69,059 $ 68,305 Unrealized holding gains on derivative financial instruments 6,506 9,427 Unrecognized net actuarial losses and transition costs for benefit plans (6,577) (6,853) Total $ 68,988 $ 70,879 Stock Repurchase Programs During the nine months ended June 29, 2024 and July 1, 2023, the Company repurchased 3 million and 1 million shares of its common stock for $162 million and $51 million, respectively, under stock repurchase programs authorized by the Board of Directors. These programs have no expiration dates and the timing of repurchases will depend upon capital needs to support the growth of the Company’s business, market conditions and other factors. Although stock repurchases are intended to increase stockholder value, they also reduce the Company’s liquidity. As of June 29, 2024, an aggregate of $118 million remained available under these programs. In addition to the repurchases discussed above, the Company withheld 0.5 million and 0.4 million shares of its common stock during the nine months ended June 29, 2024 and July 1, 2023, respectively, in settlement of employee tax withholding obligations due upon the vesting of restricted stock units. The Company paid $26 million and $22 million for the nine months ended June 29, 2024 and July 1, 2023, respectively, to applicable tax authorities in connection with these repurchases. Noncontrolling Interest During the first quarter of 2023, the Company entered into a joint venture transaction pursuant to which Reliance Strategic Business Ventures Limited acquired 50.1% of the outstanding shares of Sanmina SCI India Private Limited (“SIPL”), the Company’s existing Indian manufacturing entity, for $216 million in cash. The remaining 49.9% of the outstanding shares of SIPL are held by the Company. The Company has, by contract, the unilateral ability to control the significant decisions made in the ordinary course of SIPL’s business. Because the Company has a controlling financial interest in SIPL, it consolidates SIPL. SIPL’s cash and cash equivalents balance of $188 million as of June 29, 2024 is not available for general corporate purposes and must be retained in SIPL to fund its operations.

BUSINESS SEGMENT, GEOGRAPHIC AN

BUSINESS SEGMENT, GEOGRAPHIC AND CUSTOMER INFORMATION	9 Months Ended
	Jun. 29, 2024
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Business Segment, Geographic and Customer Information The Company’s operations are managed as two businesses: IMS and CPS. The Company’s CPS business consists of multiple operating segments which do not individually meet the quantitative thresholds 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 Company’s chief operating decision maker is the Chief Executive Officer who allocates resources and assesses performance of operating segments based on a measure of revenue and gross profit that excludes items not directly related to the Company’s ongoing business operations. These items are typically either non-recurring or non-cash in nature. Intersegment revenue consist primarily of sales of components from CPS to 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 Nine Months Ended June 29, July 1, June 29, July 1, (In thousands) Gross sales: IMS $ 1,477,499 $ 1,821,819 $ 4,444,209 $ 5,689,432 CPS 388,220 419,156 1,180,558 1,308,326 Intersegment revenue (24,289) (33,857) (73,944) (114,729) Net sales $ 1,841,430 $ 2,207,118 $ 5,550,823 $ 6,883,029 Gross profit: IMS $ 112,364 $ 152,059 $ 338,114 $ 429,855 CPS 44,686 37,036 146,951 154,564 Total 157,050 189,095 485,065 584,419 Unallocated corporate items (1) (3,511) (5,887) (15,929) (14,636) Total $ 153,539 $ 183,208 $ 469,136 $ 569,783 (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, litigation settlements, charges or credits resulting from distressed customers and amortization of intangible assets.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Jun. 29, 2024
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Earnings Per Share Basic and diluted per share amounts are calculated by dividing net income attributable to common shareholders by the weighted average number of shares of common stock outstanding during the period, as follows: Three Months Ended Nine Months Ended June 29, July 1, June 29, July 1, (In thousands, except per share data) Numerator: Net income attributable to common shareholders $ 51,602 $ 76,494 $ 161,155 $ 248,129 Denominator: Weighted average common shares outstanding 55,466 57,987 55,862 57,995 Effect of dilutive stock options and restricted stock units 1,245 1,605 1,354 2,001 Denominator for diluted earnings per share 56,711 59,592 57,216 59,996 Net income attributable to common shareholders per share: Basic $ 0.93 $ 1.32 $ 2.88 $ 4.28 Diluted $ 0.91 $ 1.28 $ 2.82 $ 4.14 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 were not material for any period presented.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Jun. 29, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Share-based Payment Arrangement [Text Block]	Stock-Based Compensation Stock-based compensation expense was recognized as follows: Three Months Ended Nine Months Ended June 29, July 1, June 29, July 1, (In thousands) Cost of sales $ 4,327 $ 4,518 $ 12,793 $ 12,785 Selling, general and administrative 10,082 8,588 28,406 24,034 Research and development 273 211 719 641 Total $ 14,682 $ 13,317 $ 41,918 $ 37,460 During the second quarter of 2024, the Company’s stockholders approved the reservation of an additional 1.2 million shares of common stock for future issuance under the Company’s 2019 Equity Incentive Plan. As of June 29, 2024, an aggregate of 6 million shares of common stock was authorized for future issuance under the Company’s stock plans, of which 3 million of such shares were issuable upon exercise of outstanding options and delivery of shares upon vesting of restricted stock units and 3 million of such shares were available for future grant. Restricted and Performance Stock Units The Company grants restricted stock units (“RSUs”) and restricted stock units with performance conditions (“PSUs”) to executive officers, directors and certain other employees. These units vest over periods ranging from one year to four years and/or upon achievement of specified performance criteria, with associated compensation expense recognized ratably over the vesting period. Generally, the Company’s PSUs vest contingent on achievement of cumulative non-GAAP earnings per share measured over three fiscal years. If a minimum threshold is not achieved during the measurement period, the PSUs will be cancelled. If the minimum threshold is achieved or exceeded, the number of shares of common stock that will be issued will range from 70% to 130% of the number of PSUs granted, depending on the extent of performance. Additionally, some PSUs may contain a performance condition where the number of shares that vest may be adjusted up or down by up to 15% based on the Company’s total shareholder return relative to that of its peer group over this same period. Activity with respect to the Company’s RSUs and PSUs was as follows: Number of Weighted- Weighted- Aggregate (In thousands) (In thousands) Outstanding as of September 30, 2023 2,881 45.07 1.14 150,547 Granted 1,430 51.72 Vested/Forfeited/Cancelled (1,420) 40.62 Outstanding as of June 29, 2024 2,891 50.54 1.39 195,340 Expected to vest as of June 29, 2024 2,581 50.42 1.35 174,351

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Pay vs Performance Disclosure
Net income attributable to common shareholders	$ 51,602	$ 76,494	$ 161,155	$ 248,129

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 29, 2024 shares
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
David V. Hedley III [Member]
Trading Arrangements, by Individual
Name	David V. Hedley III
Title	member of the Board of Directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 3, 2024
Aggregate Available	1,208

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	9 Months Ended
	Jun. 29, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting [Text Block]	The accompanying 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 condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended September 30, 2023 included in the Company’s Annual Report on Form 10-K filed with the SEC on November 16, 2023.
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 condensed consolidated financial statements and accompanying notes. Actual results could differ materially from these estimates. Results of operations for the third quarter of 2024 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 2024 and 2023 are each 52-week years. All references to years relate to fiscal years unless otherwise noted.
New Accounting Pronouncements, Policy [Text Block]	Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which will require the Company to disclose information about its reportable segment’s significant expenses and other segment items on an interim and annual basis. The disclosure requirements are effective for the Company in fiscal 2025, and for interim periods within the Company’s fiscal 2026, with early adoption permitted. The Company is currently evaluating the impact ASU 2023-07 will have on its financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which will require the Company, on an annual basis, to provide disclosure of specific categories in its effective income tax rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for the Company in fiscal 2026, with early adoption permitted. The Company is currently evaluating the impact ASU 2023-09 will have on its financial statement disclosures.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	9 Months Ended
	Jun. 29, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Change in Accounting Estimate	Three Months Ended Nine Months Ended June 29, July 1, June 29, July 1, Revenue (In thousands) Favorable $ 5,270 $ 2,115 $ 15,980 $ 5,950 Unfavorable (3,795) (10,341) (10,522) (19,850) Net $ 1,475 $ (8,226) $ 5,458 $ (13,900) Three Months Ended Nine Months Ended June 29, July 1, June 29, July 1, Operating income (In thousands) Favorable $ 7,547 $ 2,704 $ 23,248 $ 7,079 Unfavorable (6,385) (21,028) (16,757) (41,062) Net $ 1,162 $ (18,324) $ 6,491 $ (33,983)
Disaggregation of Revenue [Table Text Block]	Three Months Ended Nine Months Ended June 29, July 1, June 29, July 1, (In thousands) Segments: Integrated Manufacturing Solutions (“IMS”) $ 1,468,259 $ 1,811,530 $ 4,418,009 $ 5,657,800 CPS 373,171 395,588 1,132,814 1,225,229 Total $ 1,841,430 $ 2,207,118 $ 5,550,823 $ 6,883,029 End Markets: Industrial, Medical, Defense and Aerospace, and Automotive $ 1,181,489 $ 1,344,068 $ 3,663,208 $ 4,045,939 Communications Networks and Cloud Infrastructure 659,941 863,050 1,887,615 2,837,090 Total $ 1,841,430 $ 2,207,118 $ 5,550,823 $ 6,883,029 Geography: Americas (1) $ 966,321 $ 1,131,925 $ 2,885,983 $ 3,380,454 APAC (2) 638,991 743,372 1,843,828 2,511,205 EMEA 236,118 331,821 821,012 991,370 Total $ 1,841,430 $ 2,207,118 $ 5,550,823 $ 6,883,029 (1) Mexico represents approximately 60% and 65% of Americas net sales for the three months ended June 29, 2024 and July 1, 2023, respectively, and the U.S. represents approximately 35% of Americas net sales both the three months ended June 29, 2024 and July 1, 2023. Mexico represents approximately 60% and 70% of Americas net sales and the U.S. represents approximately 35% and 30% of Americas net sales for the nine months ended June 29, 2024 and July 1, 2023, respectively.
Schedule of Revenue by Major Customers by Reporting Segments	Three Months Ended Nine Months Ended June 29, July 1, June 29, July 1, Nokia: IMS * 10.7 % * 13.9 % CPS * 0.6 % * 0.6 % Total * 11.3 % * 14.5 % Motorola: IMS 9.8 % * 10.0 % * CPS 0.2 % * 0.2 % * Total 10.0 % * 10.2 % * * Less than 10% of the Company’s net sales.

FINANCIAL INSTRUMENTS - Derivat

FINANCIAL INSTRUMENTS - Derivative Financial Instruments (Tables)	9 Months Ended
	Jun. 29, 2024
Financial Instruments [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	As of June 29, September 30, (In thousands) Derivatives Designated as Accounting Hedges: Prepaid expenses and other current assets $ 4,787 $ 6,179 Other assets $ 3,885 $ 6,351 Accrued liabilities $ 117 $ 213 Derivatives Not Designated as Accounting Hedges: Prepaid expenses and other current assets $ 393 $ 1,164 Accrued liabilities $ 6,532 $ 4,685
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	As of June 29, September 30, Derivatives Designated as Accounting Hedges: Notional amount (in thousands) $ 118,569 $ 125,758 Number of contracts 50 50 Derivatives Not Designated as Accounting Hedges: Notional amount (in thousands) $ 385,591 $ 338,283 Number of contracts 42 42

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Jun. 29, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]	As of June 29, September 30, (In thousands) Term Loan Due 2027, net of issuance costs $ 317,165 $ 329,827 Less: Current portion of Term Loan Due 2027 17,500 17,500 Long-term debt $ 299,665 $ 312,327
Schedule of Maturities of Long-Term Debt [Table Text Block]	As of June 29, (In thousands) 2025 17,500 2026 21,875 2027 280,000 $ 319,375

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Jun. 29, 2024
Leases [Abstract]
Asset and Liabilities, Lessee [Table Text Block]	As of June 29, September 30, (In thousands) Other assets $ 82,404 $ 95,750 Accrued liabilities $ 22,418 $ 22,344 Other long-term liabilities 47,936 60,663 Total lease liabilities $ 70,354 $ 83,007 Weighted average remaining lease term (in years) 11.23 12.97 Weighted average discount rate 4.1 % 3.9 %
Lease, Cost [Table Text Block]	Three Months Ended Nine Months Ended June 29, July 1, June 29, July 1, (In thousands) Operating lease expense (1) $ 7,189 $ 8,976 $ 23,434 $ 26,541 Nine Months Ended June 29, July 1, (In thousands) Cash paid for operating lease liabilities $ 19,499 $ 18,023
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Operating Leases (In thousands) Remainder of 2024 $ 6,598 2025 24,134 2026 18,587 2027 14,438 2028 4,623 Thereafter 8,828 Total lease payments 77,208 Less: imputed interest 6,854 Total $ 70,354

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	9 Months Ended
	Jun. 29, 2024
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	As of June 29, September 30, (In thousands) Foreign currency translation adjustments $ 69,059 $ 68,305 Unrealized holding gains on derivative financial instruments 6,506 9,427 Unrecognized net actuarial losses and transition costs for benefit plans (6,577) (6,853) Total $ 68,988 $ 70,879

BUSINESS SEGMENT, GEOGRAPHIC _2

BUSINESS SEGMENT, GEOGRAPHIC AND CUSTOMER INFORMATION (Tables)	9 Months Ended
	Jun. 29, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended Nine Months Ended June 29, July 1, June 29, July 1, (In thousands) Gross sales: IMS $ 1,477,499 $ 1,821,819 $ 4,444,209 $ 5,689,432 CPS 388,220 419,156 1,180,558 1,308,326 Intersegment revenue (24,289) (33,857) (73,944) (114,729) Net sales $ 1,841,430 $ 2,207,118 $ 5,550,823 $ 6,883,029 Gross profit: IMS $ 112,364 $ 152,059 $ 338,114 $ 429,855 CPS 44,686 37,036 146,951 154,564 Total 157,050 189,095 485,065 584,419 Unallocated corporate items (1) (3,511) (5,887) (15,929) (14,636) Total $ 153,539 $ 183,208 $ 469,136 $ 569,783 (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, litigation settlements, charges or credits resulting from distressed customers and amortization of intangible assets.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Jun. 29, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Nine Months Ended June 29, July 1, June 29, July 1, (In thousands, except per share data) Numerator: Net income attributable to common shareholders $ 51,602 $ 76,494 $ 161,155 $ 248,129 Denominator: Weighted average common shares outstanding 55,466 57,987 55,862 57,995 Effect of dilutive stock options and restricted stock units 1,245 1,605 1,354 2,001 Denominator for diluted earnings per share 56,711 59,592 57,216 59,996 Net income attributable to common shareholders per share: Basic $ 0.93 $ 1.32 $ 2.88 $ 4.28 Diluted $ 0.91 $ 1.28 $ 2.82 $ 4.14 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 were not material for any period presented.

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Jun. 29, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended Nine Months Ended June 29, July 1, June 29, July 1, (In thousands) Cost of sales $ 4,327 $ 4,518 $ 12,793 $ 12,785 Selling, general and administrative 10,082 8,588 28,406 24,034 Research and development 273 211 719 641 Total $ 14,682 $ 13,317 $ 41,918 $ 37,460
Schedule of Restricted Stock Units Award Activity [Table Text Block]	Number of Weighted- Weighted- Aggregate (In thousands) (In thousands) Outstanding as of September 30, 2023 2,881 45.07 1.14 150,547 Granted 1,430 51.72 Vested/Forfeited/Cancelled (1,420) 40.62 Outstanding as of June 29, 2024 2,891 50.54 1.39 195,340 Expected to vest as of June 29, 2024 2,581 50.42 1.35 174,351

REVENUE RECOGNITION - Change in

REVENUE RECOGNITION - Change in accounting estimate (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Change in Accounting Estimate [Line Items]
Net sales	$ 1,841,430	$ 2,207,118	$ 5,550,823	$ 6,883,029
Operating Income (Loss)	82,367	107,365	245,904	356,392
Change in Accounting Method Accounted for as Change in Estimate
Change in Accounting Estimate [Line Items]
Net sales	1,475	(8,226)	5,458	(13,900)
Operating Income (Loss)	1,162	(18,324)	6,491	(33,983)
Change in Accounting Method Accounted for as Change in Estimate | Favorable
Change in Accounting Estimate [Line Items]
Net sales	5,270	2,115	15,980	5,950
Operating Income (Loss)	7,547	2,704	23,248	7,079
Change in Accounting Method Accounted for as Change in Estimate | Unfavorable
Change in Accounting Estimate [Line Items]
Net sales	(3,795)	(10,341)	(10,522)	(19,850)
Operating Income (Loss)	$ (6,385)	$ (21,028)	$ (16,757)	$ (41,062)

REVENUE RECOGNITION - Disagrega

REVENUE RECOGNITION - Disagregation of Revenue (Details) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended
		Jun. 29, 2024		Jul. 01, 2023	Jun. 29, 2024		Jul. 01, 2023
Disaggregation of Revenue [Line Items]
Percent of Net Sales Transferred Over Time					95%
Raw Materials, net of reserves, as a percentage of total Inventory		99%			99%
Number of Other Operating Segment Excluding DAS					13
Net sales		$ 1,841,430		$ 2,207,118	$ 5,550,823		$ 6,883,029
Americas
Disaggregation of Revenue [Line Items]
Net sales	[1]	966,321		1,131,925	2,885,983		3,380,454
Asia Pacific
Disaggregation of Revenue [Line Items]
Net sales		638,991	[2]	743,372	1,843,828	[2]	2,511,205
EMEA
Disaggregation of Revenue [Line Items]
Net sales		$ 236,118		$ 331,821	$ 821,012		$ 991,370
Mexico
Disaggregation of Revenue [Line Items]
Percentage of Net Sales to Americas Net Sales		60%		65%	60%		70%
United States
Disaggregation of Revenue [Line Items]
Percentage of Net Sales to Americas Net Sales		35%		35%	35%		30%
Malaysia
Disaggregation of Revenue [Line Items]
Percentage of Net Sales to APAC Net Sales		30%		25%	30%		25%
Industrial, Medical, Defense and Aerospace, and Automotive
Disaggregation of Revenue [Line Items]
Net sales		$ 1,181,489		$ 1,344,068	$ 3,663,208		$ 4,045,939
Communications Networks and Cloud Infrastructure
Disaggregation of Revenue [Line Items]
Net sales		659,941		863,050	1,887,615		2,837,090
IMS Third Party Revenue
Disaggregation of Revenue [Line Items]
Net sales		1,468,259		1,811,530	4,418,009		5,657,800
CPS Third Party Revenue
Disaggregation of Revenue [Line Items]
Net sales		$ 373,171		$ 395,588	$ 1,132,814		$ 1,225,229
[1]Mexico represents approximately 60% and 65% of Americas net sales for the three months ended June 29, 2024 and July 1, 2023, respectively, and the U.S. represents approximately 35% of Americas net sales both the three months ended June 29, 2024 and July 1, 2023. Mexico represents approximately 60% and 70% of Americas net sales and the U.S. represents approximately 35% and 30% of Americas net sales for the nine months ended June 29, 2024 and July 1, 2023, respectively.[2]Malaysia represents approximately 30% of APAC net sales for both the three and nine months ended June 29, 2024 and approximately 25% of APAC net sales for both the three and nine months ended July 1, 2023.

REVENUE RECOGNITION - Revenue b

REVENUE RECOGNITION - Revenue by Major Customers, by Reporting Segments (Details)	3 Months Ended		9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Concentration Risk [Line Items]
Percentage of Net Sales Represented by Ten Largest Customers			50%
Motorola | Revenue Benchmark | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration Risk, Percentage	10%		10.20%
Motorola | Revenue Benchmark | IMS | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration Risk, Percentage	9.80%		10%
Motorola | Revenue Benchmark | CPS | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration Risk, Percentage	0.20%		0.20%
Nokia | Revenue Benchmark | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration Risk, Percentage		11.30%		14.50%
Nokia | Revenue Benchmark | IMS | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration Risk, Percentage		10.70%		13.90%
Nokia | Revenue Benchmark | CPS | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration Risk, Percentage		0.60%		0.60%

FINANCIAL INSTRUMENTS - Fair Va

FINANCIAL INSTRUMENTS - Fair Value (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 29, 2024	Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	5%
Derivatives Designated as Accounting Hedges: | Prepaid Expenses and Other Current Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Subject to Master Netting Arrangement, before Offset	$ 4,787	$ 6,179
Derivatives Designated as Accounting Hedges: | Accrued Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Subject to Master Netting Arrangement, before Offset	117	213
Derivatives Designated as Accounting Hedges: | Other Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Subject to Master Netting Arrangement, before Offset	3,885	6,351
Derivatives Not Designated as Accounting Hedges: | Prepaid Expenses and Other Current Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Subject to Master Netting Arrangement, before Offset	393	1,164
Derivatives Not Designated as Accounting Hedges: | Accrued Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Subject to Master Netting Arrangement, before Offset	6,532	4,685
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred Compensation Plan Assets	45,000	38,000
Deferred Compensation Liability, Current and Noncurrent	$ 45,000	38,000
Assets for Plan Benefits, Defined Benefit Plan		$ 17,000

FINANCIAL INSTRUMENTS - Deriv_2

FINANCIAL INSTRUMENTS - Derivatives (Details) $ in Thousands	9 Months Ended
	Jun. 29, 2024 USD ($)	Sep. 30, 2023 USD ($)
Derivatives Designated as Accounting Hedges: | Foreign Exchange Forward [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 118,569	$ 125,758
Number of contracts	50	50
Maximum Length of Time Hedged	12 months
Derivatives Designated as Accounting Hedges: | Interest Rate Swap [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 300,000	$ 650,000
Effective Interest Rate	4.70%
Derivatives Designated as Accounting Hedges: | Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Derivative [Line Items]
Interest Rate Cash Flow Hedge Asset at Fair Value	$ 9,000	12,000
Derivatives Designated as Accounting Hedges: | Interest Rate Swap [Member] | Prepaid Expenses and Other Current Assets | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Derivative [Line Items]
Interest Rate Cash Flow Hedge Asset at Fair Value	5,000	6,000
Derivatives Designated as Accounting Hedges: | Interest Rate Swap [Member] | Other Assets [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Derivative [Line Items]
Interest Rate Cash Flow Hedge Asset at Fair Value	$ 4,000	6,000
Derivatives Designated as Accounting Hedges: | Interest Rate Swap [Member] | $300M Aggregate Notional Value of Swaps [Member]
Derivative [Line Items]
Maturity Date	Sep. 27, 2027
Derivatives Not Designated as Accounting Hedges: | Foreign Exchange Forward [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 385,591	$ 338,283
Number of contracts	42	42
Maximum Remaining Maturity	2 months

DEBT - Debt Schedule (Details)

DEBT - Debt Schedule (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Sep. 30, 2023
Debt Instrument [Line Items]
Long-term debt	$ 299,665	$ 312,327
Term Loan Due 2027
Debt Instrument [Line Items]
Term Loan Due 2027, net of issuance costs	317,165	329,827
Less: Current portion of Term Loan Due 2027	17,500	$ 17,500
Long-term Debt, Fiscal Year Maturity [Abstract]
Long-Term Debt, Maturity, Year One	17,500
Long-Term Debt, Maturity, Year Two	21,875
Long-Term Debt, Maturty, Year Three	280,000
Long-term Debt, Gross	$ 319,375

DEBT - Line of Credit Facility

DEBT - Line of Credit Facility (Details) $ in Millions	9 Months Ended
	Jun. 29, 2024 USD ($)
Foreign Line of Credit
Line of Credit Facility [Line Items]
Maximum Borrowing Capacity	$ 71
Long-term Line of Credit	0
Fifth Amended and Restated Credit Agreement
Line of Credit Facility [Line Items]
Maximum Borrowing Capacity	800
Long-term Line of Credit	0
Letters of Credit Outstanding, Amount	14
Term Loan	350
Additional Credit Line	$ 200
Line of Credit Facility, Expiration Date	Sep. 27, 2027
Line of Credit Facility, Remaining Borrowing Capacity	$ 786
Term Loan Due 2027 | Fifth Amended and Restated Credit Agreement
Line of Credit Facility [Line Items]
Repayment Percentage for Long-term Debt	1.25%

LEASES - Lessee Lease Descripti

LEASES - Lessee Lease Description (Details)	Jun. 29, 2024
Maximum [Member]
Lessee, Lease, Description [Line Items]
Term of Contract	44 years

LEASES - Leases (Detail)

LEASES - Leases (Detail) - USD ($) $ in Thousands	Jun. 29, 2024	Sep. 30, 2023
Leases [Abstract]
Operating Lease, Right-of-Use Asset	$ 82,404	$ 95,750
Operating Lease, Liability, Current	22,418	22,344
Operating Lease, Liability, Noncurrent	47,936	60,663
Operating Lease, Liability	$ 70,354	$ 83,007
Operating Lease, Weighted Average Remaining Lease Term	11 years 2 months 23 days	12 years 11 months 19 days
Operating Lease, Weighted Average Discount Rate, Percent	4.10%	3.90%
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other	Other
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities	Accrued liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other	Other
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Liabilities, Total [Member]	Liabilities, Total [Member]

LEASES - Lease Cost (Details)

LEASES - Lease Cost (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Leases [Abstract]
Operating Leases, Rent Expense, Net	[1]	$ 7,189	$ 8,976	$ 23,434	$ 26,541
Operating Lease, Payments				$ 19,499	$ 18,023
[1]Includes immaterial amounts of short-term leases, variable lease costs and sublease income.

LEASES - Future Lease Liability

LEASES - Future Lease Liability (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Sep. 30, 2023
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
Lessee, Operating Lease, Liability, to be Paid, Remainder of Fiscal Year	$ 6,598
Lessee, Operating Lease, Liability, to be Paid, Year One	24,134
Lessee, Operating Lease, Liability, to be Paid, Year Two	18,587
Lessee, Operating Lease, Liability, to be Paid, Year Three	14,438
Lessee, Operating Lease, Liability, to be Paid, Year Four	4,623
Lessee, Operating Lease, Liability, to be Paid, after Year Four	8,828
Lessee, Operating Lease, Liability, to be Paid	77,208
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	6,854
Operating Lease, Liability	$ 70,354	$ 83,007

ACCOUNTS RECEIVABLE SALE PROG_2

ACCOUNTS RECEIVABLE SALE PROGRAM (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Sep. 30, 2023
Transfer of Financial Assets Accounted for as Sales [Line Items]
Face Value of Receivable Sold, Percentage	100%
Accounts Receivable Sold During The Period	$ 1,000,000	$ 2,000,000
Discount on sold receivables	7,000	$ 16,000
RPA [Member]
Transfer of Financial Assets Accounted for as Sales [Line Items]
Accounts Receivable Sold and Outstanding	127,000		$ 162,000
Amount Collected But Not Remitted to Financial Institutions	$ 7,000		$ 33,000

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 29, 2024	Jun. 29, 2024	Sep. 30, 2023
Loss Contingencies [Line Items]
Loss Contingency Accrual	$ 37,000	$ 37,000	$ 34,000
Collectibility of Receivable and Excess and Obsolete Inventory [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value		$ 9,000
Loss Contingency, Name of Defendant		Dialight plc
Performance of Manufacturing Service Agreement
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value		$ 93,000
Loss Contingency, Name of Plaintiff		Dialight
Performance of Manufacturing Service Agreement | Maximum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss	2,000	$ 2,000
Environmental Matter [Member] | Settled Litigation
Loss Contingencies [Line Items]
Litigation Settlement, Amount Awarded to Other Party	$ 3,000

INCOME TAX (Details)

INCOME TAX (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Nov. 17, 2023	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes		$ 19,900	$ 17,267	$ 60,346	$ 63,898
Effective Income Tax Rate		27%	17%	26%	20%
Income Tax Examination, Estimate of Possible Loss	$ 8,000
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 503,000

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Foreign currency translation adjustments	$ 69,059	$ 68,305
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax	6,506	9,427
Unrecognized net actuarial losses and transition costs for benefit plans	(6,577)	(6,853)
Total	$ 68,988	$ 70,879

STOCKHOLDERS' EQUITY - Stock Re

STOCKHOLDERS' EQUITY - Stock Repurchase (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Stockholders' Equity Note [Abstract]
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 118,000
Shares Repurchased	3,000,000	1,000,000
Cash Paid for Share Repurchases	$ 162,000	$ 51,000
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	500,000	400,000
Amount of Tax Withholding for Share-based Compensation	$ 26,000	$ 22,000

STOCKHOLDERS' EQUITY - Non-cont

STOCKHOLDERS' EQUITY - Non-controlling Interest (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2022	Jun. 29, 2024	Jul. 01, 2023	Sep. 30, 2023
Business Acquisition [Line Items]
Proceeds from sale of noncontrolling interest		$ 0	$ 215,799
Cash and cash equivalents		657,709		$ 667,570
Joint Venture with Reliance [Member]
Business Acquisition [Line Items]
Proceeds from sale of noncontrolling interest	$ 216,000
Cash and cash equivalents		$ 188,000
RSBVL | Joint Venture with Reliance [Member]
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	50.10%
Sanmina | Joint Venture with Reliance [Member]
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	49.90%

BUSINESS SEGMENT, GEOGRAPHIC _3

BUSINESS SEGMENT, GEOGRAPHIC AND CUSTOMER INFORMATION - Revenue and Gross Profit by Segment (Details) $ in Thousands		3 Months Ended		9 Months Ended
		Jun. 29, 2024 USD ($)	Jul. 01, 2023 USD ($)	Jun. 29, 2024 USD ($)	Jul. 01, 2023 USD ($)
Segment Reporting Information [Line Items]
Net sales		$ 1,841,430	$ 2,207,118	$ 5,550,823	$ 6,883,029
Gross profit		153,539	183,208	$ 469,136	569,783
Number of Reportable Segments				1
Operating Segments
Segment Reporting Information [Line Items]
Gross profit		157,050	189,095	$ 485,065	584,419
Operating Segments | IMS
Segment Reporting Information [Line Items]
Net sales		1,477,499	1,821,819	4,444,209	5,689,432
Gross profit		112,364	152,059	338,114	429,855
Operating Segments | CPS
Segment Reporting Information [Line Items]
Net sales		388,220	419,156	1,180,558	1,308,326
Gross profit		44,686	37,036	146,951	154,564
Intersegment revenue
Segment Reporting Information [Line Items]
Net sales		(24,289)	(33,857)	(73,944)	(114,729)
Unallocated items
Segment Reporting Information [Line Items]
Gross profit	[1]	$ (3,511)	$ (5,887)	$ (15,929)	$ (14,636)
[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, litigation settlements, charges or credits resulting from distressed customers and amortization of intangible assets.

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Weighted average shares used in computing per share amount:
Net income attributable to common shareholders	$ 51,602	$ 76,494	$ 161,155	$ 248,129
Weighted average common shares outstanding	55,466	57,987	55,862	57,995
Effect of dilutive stock options and restricted stock units	1,245	1,605	1,354	2,001
Denominator for diluted earnings per share	56,711	59,592	57,216	59,996
Net income attributable to common shareholders per share:
Basic	$ 0.93	$ 1.32	$ 2.88	$ 4.28
Net income attributable to common shareholders per share:
Diluted	$ 0.91	$ 1.28	$ 2.82	$ 4.14

STOCK-BASED COMPENSATION - Shar

STOCK-BASED COMPENSATION - Share-Based Compensation Arrangements (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Allocation of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Noncash Expense	$ 14,682	$ 13,317	$ 41,918	$ 37,460
Cost of sales
Allocation of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Expense	4,327	4,518	12,793	12,785
Selling, general and administrative
Allocation of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Expense	10,082	8,588	28,406	24,034
Research and development
Allocation of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Expense	$ 273	$ 211	$ 719	$ 641

STOCK-BASED COMPENSATION - Sh_2

STOCK-BASED COMPENSATION - Shares Authorized for Future Issuance and Available for Grant (Details) shares in Thousands	Jun. 29, 2024 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, Capital Shares Reserved for Future Issuance	6,000
Stock options and unvested restricted stock units outstanding	3,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	3,000
Equity Incentive Plan 2019 Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, Capital Shares Reserved for Future Issuance	1,200

STOCK-BASED COMPENSATION - Addi

STOCK-BASED COMPENSATION - Additional Information (Details)	9 Months Ended
	Jun. 29, 2024
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period	1 year
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period	4 years
Performance Shares | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Potential Payout Percentage	70%
Performance Shares | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Potential Payout Percentage	130%
Potential adjustment to PSUs	15%

STOCK-BASED COMPENSATION - Rest

STOCK-BASED COMPENSATION - Restricted Stock Rollforward (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 29, 2024	Sep. 30, 2023
Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, beginning	2,881
Granted	1,430
Vested/Forfeited/Cancelled	(1,420)
Outstanding, ending	2,891	2,881
Expected to vest	2,581
Weighted Average Grant Date Fair Value Restricted Stock [Abstract]
Outstanding, beginning	$ 45.07
Granted	51.72
Vested/Forfeited/Cancelled	40.62
Outstanding, ending	50.54	$ 45.07
Expected to vest	$ 50.42
Weighted Average Remaining Contractual Term [Abstract]
Outstanding	1 year 4 months 20 days	1 year 1 month 20 days
Expected to vest	1 year 4 months 6 days
Restricted Stock Non vested Aggregate Intrinsic Value [Abstract]
Outstanding	$ 195,340	$ 150,547
Expected to vest	$ 174,351

STOCK-BASED COMPENSATION - Unre

STOCK-BASED COMPENSATION - Unrecognized Stock Based Compensation Expense (Details) $ in Millions	9 Months Ended
	Jun. 29, 2024 USD ($)
Unrecognized Compensation Cost and Weighted Average Period [Line Items]
Unrecognized compensation expense	$ 92
Weighted average period of recognition (years)	1 year 4 months 24 days