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Income Taxes (Tables)

12 Months Ended

Oct. 01, 2022

Income Tax Disclosure [Abstract]

Schedule of Domestic and Foreign Components of Income (Loss) Before Income Taxes

The domestic and foreign components of income (loss) before income tax expense for fiscal 2022, 2021 and 2020 were as follows (in thousands): 

						2022						2021						2020
U.S.						$	(64,267)					$	(33,409)					$	(69,102)
Foreign						222,570						193,820						204,499
						$	158,303					$	160,411					$	135,397

Schedule of Income Tax Expense (Benefit)

Income tax expense (benefit) for fiscal 2022, 2021 and 2020 were as follows (in thousands): 

						2022						2021						2020
Current:
Federal						$	12,506					$	9,217					$	8,779
State						386						524						23
Foreign						17,968						15,146						12,699
						30,860						24,887						21,501
Deferred:
Federal						(9,931)						(1,153)						(6,498)
State						(315)						1						3
Foreign						(554)						(2,236)						2,912
						(10,800)						(3,388)						(3,583)
						$	20,060					$	21,499					$	17,918

Schedule of Reconciliation of Federal Statutory Income Tax Rate to Effective Income Tax Rates

The following is a reconciliation of the federal statutory income tax rate to the effective income tax rates reflected in the Consolidated Statements of Comprehensive Income for fiscal 2022, 2021 and 2020: 

						2022						2021						2020
Federal statutory income tax rate						21.0		%				21.0		%				21.0		%
(Decrease) increase resulting from:
Foreign tax rate differences						(23.2)						(20.3)						(24.0)
Withholding tax on dividends						2.2						2.9						1.9
Permanent differences						(0.8)						(0.6)						(2.6)
Excess tax benefits related to share-based compensation						(1.4)						(0.9)						(3.0)
Global intangible low-taxed income ("GILTI")						10.4						6.4						13.8
Audit settlements						3.7						5.0						—
Non-deductible compensation						2.5						3.8						2.2
Valuation allowances						(1.7)						(3.7)						3.6
Tax credits, net						(1.9)						—						—
Other, net						1.9						(0.2)						0.3
Effective income tax rate						12.7		%				13.4		%				13.2		%

Schedule of Components of Net Deferred Income Tax Assets (Liabilities)

The components of the net deferred income tax assets as of October 1, 2022 and October 2, 2021, were as follows (in thousands):

						2022						2021
Deferred income tax assets:
Loss/credit carryforwards						$	24,575					$	28,234
Inventories						21,869						15,231
Accrued employee benefits						17,224						14,488
Accrued liabilities						7,129						6,410
Lease obligation						17,427						18,977
Other						6,536						6,719
Total gross deferred income tax assets						94,760						90,059
Less valuation allowances						(25,562)						(30,321)
Deferred income tax assets						69,198						59,738
Deferred income tax liabilities:
Property, plant and equipment						19,878						19,055
Right-of-use asset						10,538						12,279
Tax on unremitted earnings						6,034						4,654
Acceleration of revenue under Topic 606						—						2,042
Deferred income tax liabilities						36,450						38,030
Net deferred income tax assets/(liabilities)						$	32,748					$	21,708

Schedule of Reconciliation of Beginning And Ending Amounts of Unrecognized Income Tax Benefits

The following is a reconciliation of the beginning and ending amounts of unrecognized income tax benefits for the indicated fiscal years (in thousands):

						2022						2021						2020
Balance at beginning of fiscal year						$	4,635					$	2,096					$	2,270
Gross increases for tax positions of prior years						2,421						623						509
Gross increases for tax positions of the current year						2,531						2,161						465
Gross decreases for tax positions of prior years						(589)						(245)						(1,148)
Balance at end of fiscal year						$	8,998					$	4,635					$	2,096

Schedule of Years That Remain Subject to Examination by Major Tax Jurisdictions

The Company files income tax returns, including returns for its subsidiaries, with federal, state, local and foreign taxing jurisdictions. The following tax years remain subject to examination by the respective major tax jurisdictions:

Jurisdiction						Fiscal Years
China						2018-2022
Germany						2019-2022
Malaysia						2018-2022
Mexico						2018-2022
Romania						2020-2022
United Kingdom						2019-2022
United States
Federal						2015, 2017-2022
State						2003-2006, 2009-2022

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