XML 63 R48.htm IDEA: XBRL DOCUMENT
v3.20.2

Income Taxes (Tables) | 12 Months Ended
--- | ---
Oct. 03, 2020
Income Tax Disclosure [Abstract] |
Reconciliation Of The Provision For Income Taxes | The reconciliation of the provision for income taxes to the amount computed by applying the U.S. federal statutory tax rate to earnings before income taxes is as follows:
|  | 2020 |  | 2019 |  | 2018
Earnings before income taxes: |  |  |  |  |  |
Domestic |  | $ | 1,126 |  |  | $ | 136,308 |  |  | $ | 135,589 |
Foreign |  | 4,291 |  |  | 90,644 |  |  | 46,590 |
Total |  | $ | 5,417 |  |  | $ | 226,952 |  |  | $ | 182,179 |
Federal statutory income tax rate |  | 21.0 | % |  | 21.0 | % |  | 24.5 | %
Increase (decrease) in income taxes resulting from: |  |  |  |  |  |
Impacts of Tax Act |  | (96.4 | )% |  | 0.4 | % |  | 16.9 | %
Revaluation of deferred taxes |  | (21.6 | )% |  | (0.2 | )% |  | (6.0 | )%
Withholding taxes |  | 27.5 | % |  | 1.0 | % |  | 4.1 | %
Reversal of indefinite reinvestment assertion |  | (2.9 | )% |  | 0.6 | % |  | 5.7 | %
R&D and foreign tax credits |  | (102.8 | )% |  | (2.1 | )% |  | (4.3 | )%
Foreign tax rates |  | 76.0 | % |  | 2.3 | % |  | (0.7 | )%
Equity-based compensation |  | (6.5 | )% |  | (0.7 | )% |  | (0.7 | )%
Change in valuation allowance for deferred taxes |  | 21.1 | % |  | (0.7 | )% |  | 5.7 | %
State taxes, net of federal benefit |  | (1.9 | )% |  | 1.4 | % |  | 1.9 | %
Other |  | 16.6 | % |  | 0.1 | % |  | 0.6 | %
Effective income tax rate |  | (69.9 | )% |  | 23.1 | % |  | 47.7 | %
Components Of Income Taxes | The components of income taxes are as follows:
|  | 2020 |  | 2019 |  | 2018
Current: |  |  |  |  |  |
Federal |  | $ | 14,789 |  |  | $ | 23,302 |  |  | $ | 19,985 |
Foreign |  | 18,997 |  |  | 29,460 |  |  | 35,515 |
State |  | 3,271 |  |  | 4,240 |  |  | 705 |
Total current |  | 37,057 |  |  | 57,002 |  |  | 56,205 |
Deferred: |  |  |  |  |  |
Federal |  | (35,603 | ) |  | (5,666 | ) |  | 23,229 |
Foreign |  | (1,843 | ) |  | 1,413 |  |  | 3,354 |
State |  | (3,399 | ) |  | (345 | ) |  | 4,030 |
Total deferred |  | (40,845 | ) |  | (4,598 | ) |  | 30,613 |
Income taxes (benefit) |  | $ | (3,788 | ) |  | $ | 52,404 |  |  | $ | 86,818 |
Schedule of Deferred Tax Assets And Liabilities | The tax effects of temporary differences that generated deferred tax assets and liabilities are as follows:
|  | October 3, 2020 |  | September 28, 2019
Deferred tax assets: |  |  |  |
Benefit accruals |  | $ | 78,703 |  |  | $ | 114,077 |
Inventory reserves |  | 31,571 |  |  | 26,364 |
Tax benefit carryforwards |  | 14,146 |  |  | 14,196 |
Contract reserves not currently deductible |  | 16,418 |  |  | 15,382 |
Lease liability |  | 17,622 |  |  | — |
Other accrued expenses |  | 12,510 |  |  | 4,918 |
Total gross deferred tax assets |  | 170,970 |  |  | 174,937 |
Less valuation allowance |  | (14,784 | ) |  | (13,137 | )
Total net deferred tax assets |  | $ | 156,186 |  |  | $ | 161,800 |
Deferred tax liabilities: |  |  |  |
Differences in bases and depreciation of property, plant and equipment |  | $ | 152,926 |  |  | $ | 121,353 |
Pension |  | 24,810 |  |  | 60,983 |
Total gross deferred tax liabilities |  | 177,736 |  |  | 182,336 |
Net deferred tax assets (liabilities) |  | $ | (21,550 | ) |  | $ | (20,536 | )

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration