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STOCKHOLDERS' EQUITY | 3 Months Ended
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Dec. 30, 2023
Stockholders' Equity Note [Abstract] |
Stockholders' Equity Note Disclosure [Text Block] | Stockholders’ Equity Accumulated Other Comprehensive Income Accumulated other comprehensive income, net of tax as applicable, consisted of the following:
| As of
| December 30, 2023 |  | September 30, 2023
| (In thousands)
Foreign currency translation adjustments | $ | 71,796 |  |  | $ | 68,305 |
Unrealized holding gains on derivative financial instruments | 2,615 |  |  | 9,427 |
Unrecognized net actuarial losses and transition costs for benefit plans | (6,872) |  |  | (6,853) |
Total | $ | 67,539 |  |  | $ | 70,879 |
Stock Repurchase Programs During the three months ended December 30, 2023 and December 31, 2022, the Company repurchased 2 million and 4 thousand shares of its common stock for $106 million and $0.2 million, respectively, under stock repurchase programs authorized by the Board of Directors. These programs have no expiration dates and the timing of repurchases will depend upon capital needs to support the growth of the Company’s business, market conditions and other factors. Although stock repurchases are intended to increase stockholder value, they also reduce the Company’s liquidity. The estimated excise tax on corporate share repurchases under the U.S. Inflation Reduction Act of 2022 is recorded to equity and was not material as of December 30, 2023. As of December 30, 2023, an aggregate of $174 million remained available under these programs. In addition to the repurchases discussed above, the Company withheld 0.2 million and 0.1 million shares of its common stock during the three months ended December 30, 2023 and December 31, 2022, respectively, in settlement of employee tax withholding obligations due upon the vesting of restricted stock units. The Company paid $10 million and $8 million for the three months ended December 30, 2023 and December 31, 2022, respectively, to applicable tax authorities in connection with these repurchases. Noncontrolling Interest During the first quarter of 2023, the Company entered into a joint venture transaction pursuant to which Reliance Strategic Business Ventures Limited, acquired 50.1% of the outstanding shares of Sanmina SCI India Private Limited (“SIPL”), the Company’s existing Indian manufacturing entity for $216 million of cash. The remaining 49.9% of the outstanding shares of SIPL are held by the Company. The Company has, by contract, the unilateral ability to control the significant decisions made in the ordinary course of SIPL’s business. Because the Company has a controlling financial interest in SIPL, it consolidates SIPL. SIPL’s cash and cash equivalents balance of $217 million as of December 30, 2023 is not available for general corporate purposes and must be retained in SIPL to fund its operations.

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