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EARNINGS PER SHARE | 9 Months Ended
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Jul. 03, 2021
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE Basic income per share is calculated using the weighted average number of shares of common stock outstanding during the period. Stock options and restricted stock are included in the calculation of diluted earnings per share, except when their effect would be anti-dilutive. The following tables reflect a reconciliation of the shares used in the basic and diluted net income per share computation for the three and nine months ended July 3, 2021 and June 27, 2020:
| Three months ended
(in thousands, except per share data) | July 3, 2021 |  | June 27, 2020
| Basic |  | Diluted |  | Basic |  | Diluted
NUMERATOR: |  |  |  |  |  |  |
Net income | $ | 113,766 |  |  | $ | 113,766 |  |  | $ | 11,151 |  |  | $ | 11,151 |
DENOMINATOR: |  |  |  |  |  |  |
Weighted average shares outstanding - Basic | 62,023 |  |  | 62,023 |  |  | 62,313 |  |  | 62,313 |
Dilutive effect of Equity Plans |  |  | 1,462 |  |  |  |  | 520 |
Weighted average shares outstanding - Diluted |  |  | 63,485 |  |  |  |  | 62,833 |
EPS: |  |  |  |  |  |  |
Net income per share - Basic | $ | 1.83 |  |  | $ | 1.83 |  |  | $ | 0.18 |  |  | $ | 0.18 |
Effect of dilutive shares |  |  | (0.04) |  |  |  |  | — |
Net income per share - Diluted |  |  | $ | 1.79 |  |  |  |  | $ | 0.18 |
| Nine months ended
(in thousands, except per share data) | July 3, 2021 |  | June 27, 2020
| Basic |  | Diluted |  | Basic |  | Diluted
NUMERATOR: |  |  |  |  |  |  |
Net income | $ | 233,450 |  |  | $ | 233,450 |  |  | $ | 36,516 |  |  | $ | 36,516 |
DENOMINATOR: |  |  |  |  |  |  |
Weighted average shares outstanding - Basic | 62,023 |  |  | 62,023 |  |  | 63,200 |  |  | 63,200 |
Dilutive effect of Equity Plans |  |  | 1,341 |  |  |  |  | 555 |
Weighted average shares outstanding - Diluted |  |  | 63,364 |  |  |  |  | 63,755 |
EPS: |  |  |  |  |  |  |
Net income per share - Basic | $ | 3.76 |  |  | $ | 3.76 |  |  | $ | 0.58 |  |  | $ | 0.58 |
Effect of dilutive shares |  |  | (0.08) |  |  |  |  | (0.01) |
Net income per share - Diluted |  |  | $ | 3.68 |  |  |  |  | $ | 0.57 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 + Details
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