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Significant Accounting Policies (Tables)

12 Months Ended

Sep. 29, 2017

Significant Accounting Policies [Line Items]

Pass-Through Costs Included in Revenues

The following table sets forth pass-through costs included in revenues in the accompanying Consolidated Statements of Earnings (in millions):

For the Year Ended
September 29, 2017				September 30, 2016				October 2, 2015
$	2,539.3			$	2,489.9			$	2,602.6

Components of Goodwill by Reporting Units

The following table presents the components of our goodwill by reporting unit appearing in the accompanying Consolidated Balance Sheets at September 29, 2017 (in thousands):

		September 29, 2017
Aerospace & Technology		$	1,025,780
Buildings & Infrastructure			751,407
Industrial			561,785
Petroleum & Chemicals			670,854
Total Goodwill		$	3,009,826

Schedule of Acquired Intangible Assets

The following table provides certain information related to the Company’s acquired intangible assets in the accompanying Consolidated Balance Sheets at September 29, 2017, September 30, 2016 and October 2, 2015 (in thousands):

		Customer Relationships, Contracts, and Backlog				Developed Technology				Trade Names				Patents				Other				Total
Balances, September 26, 2014		$	408,041			$	17,378			$	14,148			$	—			$	625			$	440,192
Acquisitions			(4,315	)			—				(1,292	)			—				300				(5,307	)
Amortization			(39,967	)			(1,533	)			(4,172	)			—				(277	)			(45,949	)
Foreign currency translation			(34,418	)			—				(1,085	)			—				(14	)			(35,517	)
Balances, October 2, 2015			329,341				15,845				7,599				—				634				353,419
Acquisitions			7,286				—				859				10,027				—				18,172
Amortization			(38,595	)			(1,534	)			(3,819	)			—				(454	)			(44,402	)
Foreign currency translation			9,605				—				147				—				(19	)			9,733
Balances, September 30, 2016			307,637				14,311				4,786				10,027				161				336,922
Acquisitions			29,803				1,685				4,417				—				—				35,905
Amortization			(39,679	)			(1,534	)			(2,549	)			(400	)			(50	)			(44,212	)
Foreign currency translation			3,707				—				45				553				—				4,305
Balances, September 29, 2017		$	301,468				14,462				6,699				10,180				111				332,920
Weighted Average Amortization Period (years)		7.9				7.7				4.4				24				2.2				8.3

Stock-based Compensation Expense by Type of Award

The following table presents our stock-based compensation expense for the various types of awards made by the Company as included in the Consolidated Statements of Earnings for the years ended September 29, 2017, September 30, 2016 and October 2, 2015 (in thousands):

		For the Years Ended
Award Type		September 29, 2017				September 30, 2016				October 2, 2015
Restricted Stock and Restricted Stock Units (excluding    Market and Performance Awards)		$	26,393			$	21,156			$	20,779
Stock Options			4,338				7,165				10,683
Market and Performance Awards			8,033				4,049				9,950
Total Expense		$	38,764			$	32,370			$	41,412

Fair Value of Option Grant Date Award

The following table presents the assumptions used in the Black-Scholes option-pricing model for awards made to employees and directors for the years ended September 30, 2016 and October 2, 2015:

		Awards Made to Employees								Awards Made to Directors
		September 30, 2016				October 2, 2015				September 30, 2016				October 2, 2015
Dividend yield			—	%			—	%			—	%			—	%
Expected volatility			27.77	%			27.00	%			29.21	%			29.28	%
Risk-free interest rate			1.82	%			1.67	%			1.44	%			1.63	%
Expected term of options (in years)		5.82					5.82			5.82					5.82

Unit Basis for Earned Net Earnings Growth Based PSUs

The following table presents the basis on which the Net Earnings Growth Based PSUs are determined:

Average Adjusted Net Earnings Growth				Net Earnings Growth Performance Multiplier
Less than 5%					0	%
	5%				50	%
	10%				100	%
	15%				150	%
	20%				200	%

Basis to Determine EPS Performance Multiplier

The “EPS Performance Multiplier” is determined by reference to the following table based upon the Company’s EPS Growth Rate or Compound Annual EPS Growth Rate over the relevant fiscal periods. The Human Resource and Compensation Committee of the Board of Directors of the Company set these metrics based on the Company’s plan at the start of the fiscal year.

EPS Growth Rate or Compound Annual EPS Growth Rate				EPS Performance Multiplier
Less than 4%					0	%
	4%				50	%
	7.5%				100	%
	15%				150	%
	20% or greater				200	%

Unit Basis for Earned Relative TSR Restricted Stock

The following table presents the basis on which the Relative TSR Based PSUs are determined:

Company TSR Percentile Rank		TSR Performance Multiplier
Below 30th percentile			0	%
30th percentile			50	%
50th percentile			100	%
70th percentile or above			150	%

Schedule of Fair Value Assumptions for Earned Relative TSR Restricted Stock Units

The following table presents the assumptions used to value the TSR Based PSUs for the years ended September 29, 2017, September 30, 2016 and October 2, 2015:

		For the Years Ended
		September 29, 2017				September 30, 2016				October 2, 2015
Dividend yield			—	%			—	%			—	%
Expected volatility			—	%			25.06	%			—	%
Risk-free interest rate			—	%			1.21	%			—	%
Expected term (in years)			—				3				—

Basis to Determine Return on Invested Capital Based PSUs

The number of restricted stock units to be issued equals the target number of restricted stock units multiplied by an ROIC Performance Multiplier (as shown in the table below) determined based upon the Company’s average annual ROIC from fiscal 2017 to fiscal 2019.

Average ROIC – Fiscal 2017 - 2019				ROIC Performance Multiplier
Less than 8.9%					0	%
	8.9%				50	%
	9.9%				100	%
	10.9%				200	%

EPS Growth Rate Restricted Stock Units 2017 Awards

Significant Accounting Policies [Line Items]

Basis to Determine EPS Performance Multiplier

The “EPS Performance Multiplier” is determined by reference to the following table based upon the average growth in the Company’s adjusted EPS over the indicated fiscal periods. The Human Resource and Compensation Committee of the Board of Directors of the Company set these metrics based on the Company’s plan at the start of the fiscal year.

Average EPS Growth Rate from fiscal 2016 to fiscal 2017

Average EPS Growth Rate				EPS Performance Multiplier
Less than 0%					0
	2.3%				100	%
	4.3%				200	%

Average EPS Growth Rate from fiscal 2016 to fiscal 2018

Average EPS Growth Rate				EPS Performance Multiplier
Less than 2.1%					0
	4.1%				100	%
6.1%					200	%

Average EPS Growth Rate from fiscal 2016 to fiscal 2019

Average EPS Growth Rate				EPS Performance Multiplier
Less than 3.6%					0
	5.6%				100	%
7.6%					200	%

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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