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Earnings Per Share | 12 Months Ended
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Sep. 29, 2017
Earnings Per Share Reconciliation [Abstract] |
Earnings Per Share | 4. Earnings Per Share Basic and Diluted Earnings Per Share Basic and diluted earnings per share are computed using the two-class method, which is an earnings allocation method that determines earnings per share (“EPS”) for common shares and participating securities. The undistributed earnings are allocated between common shares and participating securities as if all earnings had been distributed during the period. Participating securities and common shares have equal rights to undistributed earnings. Net earnings used for the purpose of determining basic and diluted earnings per share is determined by taking net earnings, less earnings available to participating securities. The following table reconciles the denominator used to compute basic EPS to the denominator used to compute diluted EPS for the years ended September 29, 2017, September 30, 2016 and October 2, 2015 (in thousands):
|  | For the Years Ended |  |
|  | September 29, 2017 |  |  | September 30, 2016 |  |  | October 2, 2015 |  |
Numerator for Basic and Diluted EPS: |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 293,727 |  |  | $ | 210,463 |  |  | $ | 302,971 |  |
Net income allocated to participating securities |  |  | (3,077 | ) |  |  | — |  |  |  | — |  |
Net income allocated to common stock for EPS calculation |  | $ | 290,650 |  |  | $ | 210,463 |  |  | $ | 302,971 |  |
Denominator for Basic and Diluted EPS: |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average basic shares |  |  | 119,370 |  |  |  | 120,133 |  |  |  | 125,007 |  |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |
Stock compensation plans |  |  | 777 |  |  |  | 680 |  |  |  | 481 |  |
Restricted stock |  |  | 1,319 |  |  |  | 670 |  |  |  | 622 |  |
Diluted shares |  |  | 121,466 |  |  |  | 121,483 |  |  |  | 126,110 |  |
Shares allocated to participating securities |  |  | (1,319 | ) |  |  | — |  |  |  | — |  |
Shares used for calculating diluted EPS attributable to common stock |  |  | 120,147 |  |  |  | 121,483 |  |  |  | 126,110 |  |
Basic EPS |  | $ | 2.43 |  |  | $ | 1.75 |  |  | $ | 2.42 |  |
Diluted EPS |  | $ | 2.42 |  |  | $ | 1.73 |  |  | $ | 2.40 |  |
Share Repurchases On July 23, 2015, the Board of Directors approved a share repurchase program to repurchase up to $500 million of the Company's common stock over the ensuing three years (the "2015 Share Repurchase Program"). As authorized, share repurchases may be executed through various means including, without limitation, open market transactions and/or privately negotiated transactions. The 2015 Share Repurchase Program does not obligate the Company to purchase any shares, and expires on July 22, 2018. The timing of shares repurchases may depend upon market conditions, other uses of capital, and other factors. The following table summarizes the activity under this program during fiscal 2017 (in thousands, except per-share amounts):
Amount Authorized (in thousands) |  |  | Average Price Per Share (1) |  |  | Shares Retired (In thousands) |  |  | Shares Repurchased (In thousands) |
$ | 500,000 |  |  | $ | 55.60 |  |  |  | 1,748 |  |  |  | 1,748 |
| (1) | Includes commissions paid and calculated as the average price per share since the repurchase program authorization date.
Dividend Program On December 1, 2016, the Company announced that the Board of Directors has approved the initiation of a cash dividend program. Quarterly dividends of $0.15 per share were paid in each of the second, third and fourth quarters of fiscal 2017. On September 27, 2017, the Board of Directors declared a quarterly cash dividend of $0.15 per share, which was paid on November 10, 2017. Future dividend payments are subject to review and approval by the Company’s Board of Directors.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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