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Stockholders' Deficit

9 Months Ended

Jul. 04, 2021

Stockholders' Equity Note [Abstract]

Stockholders' Deficit

STOCKHOLDERS’ DEFICIT

Summary of changes in stockholders’ deficit — A reconciliation of the beginning and ending amounts of stockholders’ deficit is presented below (in thousands):

			Quarter												Year-to-date
			July 4, 2021						July 5, 2020						July 4, 2021						July 5, 2020
Balance at beginning of period			$	(780,557)					$	(876,926)					$	(793,361)					$	(737,584)
Shares issued under stock plans, including tax benefit			2,306						—						6,646						3,559
Share-based compensation expense			502						1,747						3,338						7,612
Dividends declared			(9,756)						—						(27,886)						(18,492)
Purchases of treasury stock			(64,967)						—						(129,967)						(153,550)
Net earnings			40,028						32,555						126,821						51,915
Other comprehensive income, net of taxes			842						15,667						2,807						22,453
Cumulative-effect from a change in accounting principle			—						—						—						(2,870)
Balance at end of period			$	(811,602)					$	(826,957)					$	(811,602)					$	(826,957)

Repurchases of common stock — The Company repurchased 1.2 million shares of its common stock in 2021 for an aggregate cost of $130.0 million. As of July 4, 2021, this leaves $70.0 million remaining under share repurchase programs authorized by the Board of Directors that expire in November 2022.

Repurchases of common stock in our condensed consolidated statement of cash flows for 2021 excludes $5.6 million traded in the quarter that settled in the fourth quarter.

Dividends — During the first, second, and third quarter of 2021, the Board of Directors declared cash dividends of $0.40, $0.40, and $0.44, respectively, totaling $28.1 million. Future dividends are subject to approval by our Board of Directors.

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- References

No definition available.

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- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

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