XML 43 R22.htm IDEA: XBRL DOCUMENT
v3.24.3

Restructuring | 12 Months Ended
--- | ---
Sep. 28, 2024
Restructuring and Related Activities [Abstract] |
Restructuring | Restructuring In 2024, we initiated restructuring actions in relation to portfolio shaping activities. These actions have and will result in workforce reductions, principally in the U.S.and Europe. Total restructuring charges in 2024 include $11,096 for severance, $8,275 of non-cash charges related to intangibles, receivables, ROU assets and property and equipment written off and $4,417 for other costs. These actions contain certain elements that will continue through 2025 and are expected to result in additional costs of approximately $1,000. In 2023, we initiated restructuring actions in relation to portfolio shaping activities. These actions have and will result in workforce reductions, principally in the U.S. and Europe. The 2023 restructuring charge consists of $6,905 for severance and $1,092 for facility closure and other costs. The 2023 plan has elements, primarily retention agreements, that will continue through 2027 and could result in additional costs of up to approximately $4,900. Restructuring activity for severance and other costs by segment and reconciliation to consolidated amounts is as follows:
| Space and Defense | Military Aircraft | Commercial Aircraft | Industrial |  | Total
Balance at October 2, 2021 | $ | — |  | $ | 179 |  | $ | — |  | $ | 5,486 |  |  | $ | 5,665 |
Charged to expense - 2022 plan | 3,755 |  | 3,996 |  | — |  | 3,450 |  |  | 11,201 |
Cash payments - 2022 plan | (1,297) |  | (3,767) |  | — |  | (613) |  |  | (5,677) |
Cash payments - 2020 plan | — |  | (179) |  | — |  | (443) |  |  | (622) |
Cash payments - 2018 plan | — |  | — |  | — |  | (432) |  |  | (432) |
Non-cash charges - 2022 plan | (2,230) |  | — |  | — |  | — |  |  | (2,230) |
Foreign currency translation | — |  | — |  | — |  | (770) |  |  | (770) |
Balance at October 1, 2022 | 228 |  | 229 |  | — |  | 6,678 |  |  | 7,135 |
Charged to expense - 2023 plan | 2,308 |  | 458 |  | — |  | 5,808 |  |  | 8,574 |
Adjustments to provision | (37) |  | (15) |  | — |  | (525) |  |  | (577) |
Cash payments - 2023 plan | (678) |  | (95) |  | — |  | (1,450) |  |  | (2,223) |
Cash payments - 2022 plan | (190) |  | (229) |  | — |  | (1,885) |  |  | (2,304) |
Cash payments - 2020 plan | — |  | — |  | — |  | (372) |  |  | (372) |
Cash payments - 2018 plan | — |  | — |  | — |  | (359) |  |  | (359) |
Foreign currency translation | (9) |  | (1) |  | — |  | 313 |  |  | 303 |
Balance at October 1, 2023 | 1,622 |  | 347 |  | — |  | 8,208 |  |  | 10,177 |
Charged to expense - 2024 plan | 6,307 |  | 3,973 |  | 1,237 |  | 10,282 |  |  | 21,799 |
Charged to expense - 2023 plan | — |  | — |  | — |  | 3,766 |  |  | 3,766 |
Non-cash charges - 2024 plan | (4,907) |  | (733) |  | — |  | (2,635) |  |  | (8,275) |
Adjustments to provision | (178) |  | (139) |  | — |  | (1,638) |  |  | (1,955) |
Cash payments - 2024 plan | — |  | (2,616) |  | (477) |  | (3,740) |  |  | (6,833) |
Cash payments - 2023 plan | (1,444) |  | (208) |  | — |  | (4,014) |  |  | (5,666) |
Cash payments - 2022 plan | — |  | — |  | — |  | (464) |  |  | (464) |
Cash payments - 2020 plan | — |  | — |  | — |  | (485) |  |  | (485) |
Cash payments - 2018 plan | — |  | — |  | — |  | (399) |  |  | (399) |
Foreign currency translation | — |  | — |  | — |  | 513 |  |  | 513 |
Balance at September 28, 2024 | $ | 1,400 |  | $ | 624 |  | $ | 760 |  | $ | 9,394 |  |  | $ | 12,178 |
As of September 28, 2024, the restructuring accrual consists $6,747 for the 2024 plan, $4,128 for the 2023 plan, $215 for the 2022 plan, $252 for the 2020 plan and $836 for the 2018 plan. Restructuring is expected to be paid within a year, except portions classified as long-term liabilities based on the nature of the reserve and the timing of the expected payments.

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

X
- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration