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Revenue From Contracts with Customers (Tables) | 3 Months Ended
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Dec. 29, 2018
Revenue from Contract with Customer [Abstract] |
Schedule of Impacts of Adoption of New Accounting Pronouncement | As a result of adoption of Topic 606, the following adjustments were made to the opening balances of the Company's Condensed Consolidated Balance Sheets (in thousands):
| Balance at September 29, 2018 |  | Impacts due to adoption of Topic 606 |  | Balance at September 30, 2018
ASSETS |  |  |  |  |
Contract assets | $ | — |  |  | $ | 76,417 |  |  | $ | 76,417 |
Inventories | 794,346 |  |  | (68,959 | ) |  | 725,387 |
LIABILITIES AND SHAREHOLDERS' EQUITY
Other accrued liabilities | $ | 68,163 |  |  | $ | (357 | ) |  | $ | 67,806 |
Retained earnings | 1,062,246 |  |  | 7,815 |  |  | 1,070,061 |
The effects of the adoption on the Company's Condensed Consolidated Financial Statements for the three months ended December 29, 2018 were as follows (in thousands):
| Three Months Ended
| December 29, 2018 As Reported |  | Adjustments due to Topic 606 |  | December 29, 2018 As Adjusted - Without Adoption of ASC Topic 606
Net sales | $ | 765,544 |  |  | $ | 6,185 |  |  | $ | 759,359 |
Cost of sales | 693,161 |  |  | 5,194 |  |  | 687,967 |
Gross profit | 72,383 |  |  | 991 |  |  | 71,392 |
Operating income | 36,951 |  |  | 991 |  |  | 35,960 |
Income before income taxes | 34,115 |  |  | 991 |  |  | 33,124 |
Income tax expense | 11,889 |  |  | 194 |  |  | 11,695 |
Net income | $ | 22,226 |  |  | $ | 797 |  |  | $ | 21,429 |
| December 29, 2018 As Reported |  | Effect of the Adoption of ASC Topic 606 |  | December 29, 2018 As Adjusted - Without Adoption of ASC Topic 606
ASSETS |  |  |  |  |
Contract assets | $ | 82,775 |  |  | $ | 82,775 |  |  | $ | — |
Inventories | 798,271 |  |  | (74,152 | ) |  | 872,423 |
LIABILITIES AND SHAREHOLDERS' EQUITY
Other accrued liabilities | $ | 83,004 |  |  | $ | 11 |  |  | $ | 82,993 |
Retained earnings | 1,092,287 |  |  | 8,612 |  |  | 1,083,675 |
Schedule of Disaggregation of Revenue | The tables below include the Company’s net sales for the three months ended December 29, 2018, disaggregated by geographic reportable segment and market sector (in thousands):
|  | Three Months Ended December 29, 2018
|  | Reportable Segment:
|  | AMER |  | APAC |  | EMEA |  | Total
Market Sector: |  |  |  |  |  |  |  |
Healthcare/Life Sciences |  | $ | 115,765 |  |  | $ | 152,106 |  |  | $ | 32,707 |  |  | $ | 300,578 |
Industrial/Commercial |  | 83,718 |  |  | 116,271 |  |  | 19,153 |  |  | 219,142 |
Communications |  | 90,464 |  |  | 30,975 |  |  | 1,920 |  |  | 123,359 |
Aerospace/Defense |  | 62,373 |  |  | 42,094 |  |  | 17,998 |  |  | 122,465 |
External revenue |  | $ | 352,320 |  |  | $ | 341,446 |  |  | $ | 71,778 |  |  | $ | 765,544 |
Inter-segment sales |  | 1,547 |  |  | 36,666 |  |  | 520 |  |  | 38,733 |
Total sales revenue |  | $ | 353,867 |  |  | $ | 378,112 |  |  | $ | 72,298 |  |  | $ | 804,277 |
Schedule of Contract Assets | The following table summarizes the activity in the Company's contract assets during the three months ended December 29, 2018 (in thousands):
|  | Contract Assets
Beginning balance, September 29, 2018 |  | $ | — |
Cumulative effect adjustment at September 29, 2018 |  | 76,417 |
Revenue recognized |  | 681,712 |
Amounts collected or invoiced |  | (675,354 | )
Ending balance, December 29, 2018 |  | $ | 82,775 |

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