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Note 13 Acquisition
 12 Months Ended
Oct. 03, 2015
Business Combinations [Abstract]  
Business Combination Disclosure [Text Block]
Note 13. Acquisitions

Fourth Quarter of 2015

On June 29, 2015, the Company purchased all outstanding stock of a privately-held company that designs and manufactures equipment for the oil and gas industry. The acquisition further enhances and complements the Company's existing capabilities in the oil and gas market and will be reported in the Company's CPS operating segment. Consideration for the acquisition consists of cash of approximately $13.9 million plus up to an additional $23.5 million if certain annual earnings targets are achieved in the first five years following the date of acquisition. The fair value of contingent consideration was determined to be $11.0 million using a risk-neutral Monte Carlo model based on significant inputs that are not observable in the market. Contingent consideration will be remeasured periodically during the five-year contingency period with changes in fair value recorded in the Company's consolidated statements of income.

The acquisition did not significantly affect the Company's financial position or results of operations for 2015. The allocation of the purchase price to the tangible and identifiable intangible assets acquired and liabilities assumed was based on their estimated fair values as of the date of acquisition. Management is in the process of finalizing fair value amounts for certain assets acquired and liabilities assumed.

The following represents the Company's preliminary allocation of the purchase price of $24.9 million to the acquired assets and liabilities assumed:
 
(In thousands)
Current assets
$
29,673

Noncurrent assets, including identifiable intangible assets of $9.6 million and goodwill of $0.9 million
23,605

Current liabilities, including debt of $15.3 million that was repaid immediately after closing
(27,757
)
Noncurrent liabilities
(615
)
Total
$
24,906



Goodwill and identifiable assets are recorded in other non-current assets on the consolidated balance sheets. Identifiable intangible assets, consisting of customer relationships, trade names and order backlog, are being amortized over one to three years.

Third Quarter of 2014

On April 28, 2014, the Company acquired a manufacturing operation that primarily produces industrial-related products serving multiple end-user markets. The Company also entered into a master supply agreement with the acquiree in connection with this acquisition. Total consideration paid for this acquisition was $40.2 million, consisting of $25.4 million of cash and non-interest bearing notes payable with a discounted value of $14.8 million.

First Quarter of 2014

On December 18, 2013, the Company acquired a manufacturing operation in the oil and gas industry that increased the Company's precision machining, assembly, integration and test capabilities. The Company also entered into a master supply agreement with the acquiree in connection with this acquisition. Cash consideration paid by the Company for this acquisition was $54.1 million.