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Earnings Per Share and Certain Related Information
 3 Months Ended
Dec. 27, 2019
Earnings Per Share Reconciliation [Abstract]  
Earnings Per Share and Certain Related Information Earnings Per Share and Certain Related Information
Basic and diluted earnings per share (“EPS”) are computed using the two-class method, which is an earnings allocation method that determines 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 EPS 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 three months ended December 27, 2019 and December 28, 2018 (in thousands):
Three Months Ended
December 27, 2019December 28, 2018
Numerator for Basic and Diluted EPS:
Net earnings (loss) attributable to Jacobs from continuing operations$179,423  $64,894  
Net earnings (loss) from continuing operations allocated to participating securities(92) (135) 
Net earnings (loss) from continuing operations allocated to common stock for EPS calculation$179,331  $64,759  
Net earnings (loss) attributable to Jacobs from discontinued operations$77,587  $59,402  
Net earnings (loss) from discontinued operations allocated to participating securities(40) (124) 
Net earnings (loss) from discontinued operations allocated to common stock for EPS calculation$77,547  $59,278  
Net earnings allocated to common stock for EPS calculation$256,878  $124,037  
Denominator for Basic and Diluted EPS:
Weighted average basic shares133,202  142,451  
Shares allocated to participating securities(68) (297) 
Shares used for calculating basic EPS attributable to common stock133,134  $142,154  
Effect of dilutive securities:
Stock compensation plans1,484  1,424  
Shares used for calculating diluted EPS attributable to common stock134,618  143,578  
Net Earnings Per Share:
Basic Net Earnings from Continuing Operations Per Share$1.35  $0.45  
Basic Net Earnings from Discontinued Operations Per Share$0.58  $0.42  
Basic EPS$1.93  $0.87  
Diluted Net Earnings from Continuing Operations Per Share$1.33  $0.45  
Diluted Net Earnings from Discontinued Operations Per Share$0.58  $0.41  
Diluted EPS$1.91  $0.86  
Share Repurchases
On January 17, 2019, the Company’s Board of Directors authorized a share repurchase program of up to $1.0 billion of the Company’s common stock, to expire on January 16, 2022 (the "2019 Repurchase Authorization"). During fiscal 2019, the Company launched accelerated share repurchase programs by advancing a total of $500 million to two financial institutions in privately negotiated transactions (collectively, the "2019 ASR Programs"). The specific number of shares that the Company repurchased under the 2019 ASR Programs were determined based generally on a discount to the volume-weighted average price per share of the Company's common stock during a calculation period which ended on June 5, 2019 for the first $250 million in repurchases and on December 4, 2019 for the second $250 million in repurchases. The purchases were recorded as share retirements for purposes of calculating earnings per share.
The following table summarizes the activity under the 2019 Repurchase Authorization in the first quarter of fiscal 2020, which relates only to the final non-cash settlement of the second $250 million ASR program.
Amount Authorized
(2019 Repurchase Authorization)		Average Price Per Share (1)Shares RepurchasedTotal Shares Retired
$1,000,000,000  $91.08  351,486  351,486  
(1) Includes commissions paid and calculated at the average price per share
As of December 27, 2019, the Company has $393.7 million remaining under the 2019 Repurchase Authorization.
On January 16, 2020, the Company’s Board of Directors authorized an additional share repurchase program of up to $1.0 billion of the Company’s common stock, to expire on January 15, 2023 (the "2020 Repurchase Authorization"). There have been no repurchases under the 2020 Repurchase Authorization as of December 27, 2019.
The share repurchase programs do not obligate the Company to purchase any shares. Share repurchases may be executed through various means including, without limitation, accelerated share repurchases, open market transactions, privately negotiated transactions, purchases pursuant to a Rule 10b5-1 plan or otherwise. The authorization for the share repurchase programs may be terminated, increased or decreased by the Company’s Board of Directors in its discretion at any time. The timing, amount and manner of share repurchases may depend upon market conditions and economic circumstances, availability of investment opportunities, the availability and costs of financing, currency fluctuations, the market price of the Company's common stock, other uses of capital and other factors.
Dividend Program
On January 16, 2020, the Company’s Board of Directors declared a quarterly dividend of $0.19 per share of the Company’s common stock to be paid on February 28, 2020, to shareholders of record on the close of business on January 31, 2020. Future dividend declarations are subject to review and approval by the Company’s Board of Directors. Dividends paid through the first fiscal quarter of 2020 and the preceding fiscal year are as follows:  
Declaration DateRecord DatePayment DateCash Amount (per share)
September 19, 2019October 4, 2019November 1, 2019$0.17  
July 11, 2019July 26, 2019August 23, 2019$0.17  
May 2, 2019May 17, 2019June 14, 2019$0.17  
January 17, 2019February 15, 2019March 15, 2019$0.17  
September 11, 2018September 28, 2018October 26, 2018$0.15