XML 43 R33.htm IDEA: XBRL DOCUMENT
v3.23.1

Stockholders' Equity And Stock-Based Compensation (Tables) | 6 Months Ended
--- | ---
Mar. 31, 2023
Stockholders' Equity And Stock-Based Compensation [Abstract] |
Summary Of Stock Options Issued To Officers, Directors, And Employees Under 2000 Stock Incentive Plan And 2005 Stock Plan | The following table summarizes information about PSOs granted to our executive officers that have vested during the periods presented:
Grant Date | Aggregate Shares Granted at Target Award | Aggregate Shares Exercisable at Vest Date (1) | Percentage Vested of Target Award | Vested Date
December 15, 2018 | 241,100 |  | 158,700 |  | 75 | % | December 2021
(1)Aggregate shares exercisable at vest date does not include any shares that were cancelled before the vest date after they were granted. The following table summarizes information about stock options, including PSOs, issued under our 2020 Stock Plan:
| Shares | Weighted-Average Exercise Price | Weighted-Average Remaining Contractual Life | Aggregate Intrinsic Value (1)
| (in thousands) |  | (in years) | (in thousands)
Options outstanding at September 30, 2022 | 4,059 |  | $ | 62.59 |  |  |
Grants | 326 |  | 71.07 |  |  |
Exercises | (325) |  | 42.52 |  |  |
Options outstanding at March 31, 2023 | 4,060 |  | 64.92 |  | 5.61 | $ | 86,066 |
Options vested and expected to vest at March 31, 2023 | 3,896 |  | 64.64 |  | 5.52 | 85,167 |
Options exercisable at March 31, 2023 | 3,059 |  | $ | 60.74 |  | 4.71 | 77,350 |
(1)Aggregate intrinsic value is based on the closing stock price of our Class A common stock on March 31, 2023 of $85.42 and excludes the impact of options that were not in-the-money.
Summary Of Restricted Stock Units Issued To Officers, Directors And Employees Under 2005 Stock Incentive Plan | The following table summarizes information about RSUs, including PSUs, issued under our 2020 Stock Plan:
| Shares | Weighted-Average Grant Date Fair Value
| (in thousands) |
Non-vested at September 30, 2022 | 3,502 |  | $ | 83.09 |
Granted | 1,591 |  | 68.93 |
Vested | (1,103) |  | 78.22 |
Forfeitures | (106) |  | 79.95 |
Non-vested at March 31, 2023 | 3,884 |  | $ | 78.76 |
Schedule Of Fair Value Of Stock-Based Awards Estimated Using Weighted-Average Assumptions | The weighted-average assumptions used in the determination of the fair value of our stock options were as follows:
|  |  | Fiscal Year-To-Date Ended |
|  |  |  | March 31, 2023 | April 1, 2022 |
Expected term (in years) |  |  |  | 4.82 | 4.78 |
Risk-free interest rate |  |  |  | 3.6 | % | 1.2 | % |
Expected stock price volatility |  |  |  | 29.4 | % | 28.6 | % |
Dividend yield |  |  |  | 1.6 | % | 1.1 | % |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | The following two tables separately present stock-based compensation expense both by award type and classification in our unaudited interim condensed consolidated statements of operations (in thousands): Expense - By Award Type
| Fiscal Quarter Ended |  | Fiscal Year-To-Date Ended
| March 31, 2023 | April 1, 2022 |  | March 31, 2023 | April 1, 2022 |
Compensation expense |  |  |  |  |  |
Stock options | $ | 2,008 |  | $ | 2,313 |  |  | $ | 4,413 |  | $ | 5,618 |  |
Restricted stock units (1) (2) | 26,544 |  | 23,686 |  |  | 54,096 |  | 51,406 |  |
Employee stock purchase plan | 1,275 |  | 1,700 |  |  | 2,558 |  | 3,331 |  |
Total stock-based compensation expense | 29,827 |  | 27,699 |  |  | 61,067 |  | 60,355 |  |
Estimated benefit from income taxes | (4,497) |  | (4,412) |  |  | (9,199) |  | (9,531) |  |
Total stock-based compensation, net of tax | $ | 25,330 |  | $ | 23,287 |  |  | $ | 51,868 |  | $ | 50,824 |  |
(1)Stock-based compensation expense incurred by restricted stock units includes expense from PSUs. (2)Excludes $0.3 million in second quarter of fiscal 2023 and $0.7 million in the fiscal year-to-date period ended March 31, 2023 of capitalized stock-based compensation related to internal-use software. Expense - By Income Statement Line Item Classification
| Fiscal Quarter Ended |  | Fiscal Year-To-Date Ended
| March 31, 2023 | April 1, 2022 |  | March 31, 2023 | April 1, 2022 |
Compensation expense |  |  |  |  |
Cost of products and services | $ | 431 |  | $ | 402 |  |  | $ | 934 |  | $ | 992 |  |
Research and development | 9,472 |  | 9,155 |  |  | 20,148 |  | 19,257 |  |
Sales and marketing | 10,276 |  | 9,791 |  |  | 21,003 |  | 22,039 |  |
General and administrative | 9,648 |  | 8,351 |  |  | 18,982 |  | 18,067 |  |
Total stock-based compensation expense | 29,827 |  | 27,699 |  |  | 61,067 |  | 60,355 |  |
Estimated benefit from income taxes | (4,497) |  | (4,412) |  |  | (9,199) |  | (9,531) |  |
Total stock-based compensation, net of tax | $ | 25,330 |  | $ | 23,287 |  |  | $ | 51,868 |  | $ | 50,824 |  |
Schedule of Stock Repurchase Authorizations | The following table summarizes the initial amount of authorized repurchases as well as additional repurchases approved by our Board of Directors as of March 31, 2023 (in thousands):
Date of Authorization | Authorization Amount
Fiscal 2010: November 2009 | $ | 250,000 |
Fiscal 2010: July 2010 | 300,000 |
Fiscal 2011: July 2011 | 250,000 |
Fiscal 2012: February 2012 | 100,000 |
Fiscal 2015: October 2014 | 200,000 |
Fiscal 2017: January 2017 | 200,000 |
Fiscal 2018: July 2018 | 350,000 |
Fiscal 2019: July 2019 | 350,000 |
Fiscal 2021: July 2021 | 350,000 |
Fiscal 2022: February 2022 | 250,000 |
Fiscal 2022: August 2022 | 350,000 |
Total | $ | 2,950,000 |
Schedule of Stock Repurchase Activity | The following table provides information regarding share repurchase activity under the program during fiscal 2023:
Quarterly Repurchase Activity | Shares Repurchased | Cost (1) | Average Price Paid Per Share (2)
|  | (in thousands) |
Q1 - Quarter ended December 30, 2022 | 680,861 |  | $ | 49,412 |  | $ | 72.57 |
Q2 - Quarter ended March 31, 2023 | 631,046 |  | 49,864 |  | 79.02 |
Total | 1,311,907 |  | $ | 99,276 |  |
(1)Cost of share repurchases includes the price paid per share, and excludes commission costs. (2)Average price paid per share excludes commission costs.
Dividends Declared | The following table summarizes dividends declared under the program during fiscal 2023:
Fiscal Period | Announcement Date | Record Date | Payment Date | Cash Dividend Per Common Share | Dividend Payment |  |
Q1 - Quarter ended December 30, 2022 | February 2, 2023 | February 14, 2023 | February 22, 2023 | $ | 0.27 |  | $25.9 million |  |
Q2 - Quarter ended March 31, 2023 | May 4, 2023 | May 16, 2023 | May 23, 2023 | $ | 0.27 |  | $25.9 million | (1) |
(1)The dividend payment amount for the dividend declared in the second quarter of fiscal 2023 is estimated based on the number of shares of our Class A and Class B common stock that we estimate will be outstanding as of the Record Date.

X
- Definition Schedule of Stock Repurchase Activity [Table Text Block] + References No definition available. + Details
Name: | dlb_ScheduleofStockRepurchaseActivityTableTextBlock
Namespace Prefix: | dlb_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Treasury Stock Authorizations [Table Text Block] + References No definition available. + Details
Name: | dlb_ScheduleofTreasuryStockAuthorizationsTableTextBlock
Namespace Prefix: | dlb_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Stockholders Equity And Stock-Based Compensation Abstract + References No definition available. + Details
Name: | dlb_StockholdersEquityAndStockBasedCompensationAbstract
Namespace Prefix: | dlb_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information related to dividends declared, including paid and unpaid dividends. + References No definition available. + Details
Name: | us-gaap_DividendsDeclaredTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration