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Quarterly Financial Data (Unaudited) | 12 Months Ended
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Oct. 03, 2020
Quarterly Financial Data [Abstract] |
Quarterly Financial Data (Unaudited) | Quarterly Financial Data (Unaudited) The following is summarized quarterly financial data for fiscal 2020 and 2019 (in thousands, except per share amounts):
2020 |  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter |  | Total
Net sales |  | $ | 852,409 |  |  | $ | 767,364 |  |  | $ | 857,394 |  |  | $ | 913,227 |  |  | $ | 3,390,394 |
Gross profit |  | 79,190 |  |  | 61,445 |  |  | 82,881 |  |  | 89,190 |  |  | 312,706 |
Net income (2,3) |  | 31,006 |  |  | 12,926 |  |  | 35,842 |  |  | 37,705 |  |  | 117,479 |
Earnings per share (1): |  |  |  |  |  |  |  |  |  |
Basic |  | 1.06 |  |  | 0.44 |  |  | 1.23 |  |  | 1.29 |  |  | 4.02 |
Diluted (7) |  | 1.03 |  |  | 0.43 |  |  | 1.20 |  |  | 1.26 |  |  | $ | 3.93 |
2019 |  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter |  | Total
Net sales |  | $ | 765,544 |  |  | $ | 789,051 |  |  | $ | 799,644 |  |  | $ | 810,195 |  |  | $ | 3,164,434 |
Gross profit |  | 72,383 |  |  | 70,636 |  |  | 71,030 |  |  | 77,789 |  |  | 291,838 |
Net income (4,5,6) |  | 22,226 |  |  | 24,758 |  |  | 24,801 |  |  | 36,831 |  |  | 108,616 |
Earnings per share (1): |  |  |  |  |  |  |  |  |  |
Basic |  | 0.71 |  |  | 0.81 |  |  | 0.83 |  |  | 1.26 |  |  | 3.59 |
Diluted (8) |  | 0.69 |  |  | 0.79 |  |  | 0.81 |  |  | 1.23 |  |  | 3.50 |
(1) The annual total amounts may not equal the sum of the quarterly amounts due to rounding. Earnings per share is computed independently for each quarter and annually. (2) The first quarter of fiscal 2020 results included $1.9 million in tax benefits related to U.S. foreign tax credit regulations issued during the quarter, partially offset by $1.1 million of tax expense as a result of special tax items. (3) The second quarter of fiscal 2020 results included restructuring and impairment charges of $6.0 million, or $5.4 million net of taxes, in the AMER operating segment due to the closure of the Boulder Design Center. (4) The first quarter of fiscal 2019 results included $7.0 million of tax expense as a result of new regulations issued under U.S. Tax Reform. These regulations impacted the treatment of foreign taxes paid. (5) The fourth quarter of fiscal 2019 results included restructuring charges of $1.7 million, or $1.5 million net of taxes, in the AMER operating segment. (6) The fourth quarter of fiscal 2019 results included a benefit of $10.5 million due to the permanent reinvestment assertion of certain historical undistributed earnings of two foreign subsidiaries. (7) The first quarter of fiscal 2020 included $0.03 per share tax benefit resulting from special tax items. The second quarter of fiscal 2020 included $0.18 per share of expense related to restructuring costs. (8) The first quarter of fiscal 2019 included $0.23 per share of tax expense as a result of U.S. Tax Reform. The fourth quarter of fiscal 2019 included $0.05 per share of expense related to restructuring costs and $0.35 per share tax benefit resulting from the permanent reinvestment assertion of certain historical undistributed earnings of two foreign subsidiaries.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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