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Income Taxes (Tables) | 12 Months Ended
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Oct. 01, 2023
Income Tax Disclosure [Abstract] |
Schedule of income before income taxes, by geographical area | Income before income taxes, by geographic area, was as follows (in thousands):
| Fiscal Year Ended
| October 1, 2023 |  | October 2, 2022 |  | October 3, 2021
Income before income taxes: |  |  |  |  |
United States | $ | 287,295 |  |  | $ | 262,428 |  |  | $ | 211,222 |
Foreign | 113,683 |  |  | 86,338 |  |  | 55,648 |
Total income before income taxes | $ | 400,978 |  |  | $ | 348,766 |  |  | $ | 266,870 |
Schedule of components of income tax expense | Income tax expense consisted of the following (in thousands):
| Fiscal Year Ended
| October 1, 2023 |  | October 2, 2022 |  | October 3, 2021
Current: |  |  |  |  |
Federal | $ | 110,371 |  |  | $ | 47,447 |  |  | $ | 41,056 |
State | 16,025 |  |  | 9,613 |  |  | 9,893 |
Foreign | 28,970 |  |  | 26,332 |  |  | 18,887 |
Total current income tax expense | 155,366 |  |  | 83,392 |  |  | 69,836 |
Deferred: |  |  |  |  |
Federal | (18,062) |  |  | (424) |  |  | (6,034) |
State | (4,976) |  |  | (382) |  |  | (2,060) |
Foreign | (4,802) |  |  | 3,016 |  |  | (27,703) |
Total deferred income tax (benefit) expense | (27,840) |  |  | 2,210 |  |  | (35,797) |
Total income tax expense | $ | 127,526 |  |  | $ | 85,602 |  |  | $ | 34,039 |
Schedule of reconciliation of income tax rate | Total income tax expense was different from the amount computed by applying the U.S. federal statutory rate to pre-tax income as follows:
| Fiscal Year Ended
| October 1, 2023 |  | October 2, 2022 |  | October 3, 2021
Tax at federal statutory rate | 21.0% |  | 21.0% |  | 21.0%
State taxes, net of federal benefit | 2.2 |  | 2.1 |  | 2.3
Research and Development ("R&D") credits | (0.5) |  | (1.0) |  | (2.6)
Tax differential on foreign earnings | 1.5 |  | 1.0 |  | 0.9
Non-taxable foreign interest income | — |  | — |  | (1.0)
Stock compensation | (0.4) |  | (2.0) |  | (3.3)
Valuation allowance | — |  | 0.2 |  | (9.3)
Change in uncertain tax positions | 11.6 |  | (1.1) |  | 1.7
Return to provision | 1.1 |  | 1.4 |  | (3.7)
Disallowed officer compensation | 1.2 |  | 1.9 |  | 2.0
Cash repatriation | — |  | 0.1 |  | 2.1
Unremitted earnings | 0.2 |  | (0.2) |  | 1.0
Hedging gain | (5.7) |  | — |  | —
Global intangible low-taxed income | 0.5 |  | — |  | —
Deferred tax adjustments | (1.0) |  | 0.1 |  | 0.8
Other | 0.1 |  | 1.0 |  | 0.9
Total income tax expense | 31.8% |  | 24.5% |  | 12.8%
Schedule of temporary differences comprising the net deferred income tax asset | Temporary differences comprising the net deferred income tax asset shown on the accompanying consolidated balance sheets were as follows (in thousands):
| Fiscal Year Ended
| October 1, 2023 |  | October 2, 2022
Deferred Tax Assets: |  |  |
State taxes | $ | 2,686 |  |  | $ | 1,238 |
Reserves and contingent liabilities | 2,849 |  |  | 5,023 |
Accounts receivable including the allowance for doubtful accounts | 5,323 |  |  | 4,986 |
Accrued liabilities | 64,155 |  |  | 35,973 |
Lease liabilities, operating leases | 53,437 |  |  | 49,618 |
Stock-based compensation | 1,900 |  |  | 2,925 |
Unbilled revenue | 3,090 |  |  | 4,885 |
Loss and other carry-forwards | 62,777 |  |  | 41,648 |
Property and equipment | 552 |  |  | — |
Capitalized research and development | 17,778 |  |  | — |
Capped call transactions | 12,696 |  |  | — |
Valuation allowance | (11,663) |  |  | (12,286) |
Total deferred tax assets | 215,580 |  |  | 134,010 |
Deferred Tax Liabilities: |  |  |
Prepaid expense | (2,703) |  |  | (6,065) |
Right-of-use assets, operating leases | (53,437) |  |  | (49,618) |
Intangibles | (83,242) |  |  | (42,863) |
Undistributed earnings | (1,453) |  |  | (2,200) |
Property and equipment | — |  |  | (621) |
Total deferred tax liabilities | (140,835) |  |  | (101,367) |
Net deferred tax assets | $ | 74,745 |  |  | $ | 32,643 |
Reconciliation of the beginning and ending amounts of unrecognized tax benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
| Fiscal Year Ended
| October 1, 2023 |  | October 2, 2022 |  | October 3, 2021
Beginning balance | $ | 8,908 |  |  | $ | 12,899 |  |  | $ | 9,228 |
Acquisition of RPS Group | 6,012 |  |  | — |  |  | — |
Additions for current fiscal year tax positions | 27,272 |  |  | — |  |  | 2,171 |
Additions for prior fiscal year tax positions | 14,602 |  |  | — |  |  | 1,500 |
Reductions for prior fiscal year tax positions | (1,358) |  |  | (3,014) |  |  | — |
Settlements | (1,817) |  |  | (977) |  |  | — |
Ending balance | $ | 53,619 |  |  | $ | 8,908 |  |  | $ | 12,899 |

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