XML 38 R22.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Share Repurchase Program | 12 Months Ended
--- | ---
Oct. 01, 2022
Equity [Abstract] |
Share Repurchase Program | Note 16—Share Repurchase Program On December 3, 2021, the board of directors authorized a share repurchase program for up to an aggregate of $300 million of the Company’s outstanding shares of common stock over a period of three year s, expiring December 3, 2024. The amount, price, manner, and timing of repurchases are determined by the Company in its discretion and depends on a number of factors, including legal requirements, price, economic and market conditions, the Company’s financial condition, capital requirements, cash flows, results of operations, future business prospects, and other factors our management may deem relevant. The share repurchase program may be amended, suspended, or discontinued at any time. Shares may be repurchased from time-to-time using a variety of methods, including on the open market and/or in privately negotiated transactions, including under plans complying with Rule 10b5-1 under the Exchange Act, as part of accelerated share repurchases, and other methods. On December 16, 2021, the Company repurchased and retired 7.5 million shares of common stock at a price per share of $20.25 under the program. The Company paid $151.9 million ($152.1 million including offering costs) to fund the share repurchase using existing cash on hand. The Company accounted for the share repurchase and retirement of shares under the cost method by deducting its par value from common stock, reducing additional paid-in-capital by $127.5 million (using the share price when the shares were originally issued), and increasing retained deficit by the remaining excess cost of $24.4 million. As of October 1, 2022, approximately $148 million remained available for future purchases under our share repurchase program. The following table presents information about our repurchases of common stock under our share repurchase program (in thousands):
|  | Year Ended |
|  | October 1, 2022 |  |  | October 2, 2021 |
Total number of shares repurchased |  |  | 7,500 |  |  |  | — |
Total amount paid for shares repurchased |  | $ | 151,875 |  |  | $ | — |

X
- Definition Share repurchase program disclosure. + References No definition available. + Details
Name: | lesl_ShareRepurchaseProgramDisclosureTextBlock
Namespace Prefix: | lesl_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration