Stockholders' Equity And Stock-Based Compensation (Tables)

9 Months Ended

Jun. 28, 2019

Stockholders' Equity And Stock-Based Compensation [Abstract]

Summary Of Stock Options Issued To Officers, Directors, And Employees Under 2000 Stock Incentive Plan And 2005 Stock Plan

The following table summarizes information about all stock options issued under our 2005 Stock Plan:

	Shares		Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life	Aggregate Intrinsic Value (1)
	(in thousands)				(in years)	(in thousands)
Options outstanding at September 28, 2018	7,365		$	43.51
Grants	1,245		64.60
Exercises	(842	)	35.92
Forfeitures and cancellations	(141	)	52.35
Options outstanding at June 28, 2019	7,627		47.63		6.45	$	129,424
Options vested and expected to vest at June 28, 2019	7,272		46.92		6.37	128,586
Options exercisable at June 28, 2019	4,425		$	40.42	5.47	106,992

(1)

Aggregate intrinsic value is based on the closing price of our Class A common stock on June 28, 2019 of $64.60 and excludes the impact of options that were not in-the-money.

Summary Of Restricted Stock Units Issued To Officers, Directors And Employees Under 2005 Stock Incentive Plan

The following table summarizes information about RSUs issued under our 2005 Stock Plan:

	Shares		Weighted-Average Grant Date Fair Value
	(in thousands)
Non-vested at September 28, 2018	2,806		$	51.62
Granted	1,288		65.05
Vested	(1,006	)	47.66
Forfeitures	(186	)	56.21
Non-vested at June 28, 2019	2,902		$	58.66

Schedule Of Fair Value Of Stock-Based Awards Estimated Using Weighted-Average Assumptions

The weighted-average assumptions used in the determination of the fair value of our stock options were as follows:

	Fiscal Quarter Ended				Fiscal Year-To-Date Ended
	June 28, 2019		June 29, 2018		June 28, 2019		June 29, 2018
Expected life (in years)	4.90		5.06		4.90		5.06
Risk-free interest rate	2.4	%	2.9	%	2.7	%	2.2	%
Expected stock price volatility	22.5	%	22.5	%	22.9	%	22.6	%
Dividend yield	1.2	%	1.0	%	1.1	%	1.1	%

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The following two tables separately present stock-based compensation expense both by award type and classification in our consolidated statements of operations (in thousands):

Expense - By Award Type

	Fiscal Quarter Ended						Fiscal Year-To-Date Ended
	June 28, 2019			June 29, 2018			June 28, 2019			June 29, 2018
Compensation expense - by type
Stock options	$	4,260		$	4,500		$	13,561		$	16,554
Restricted stock units	13,566			11,581			42,836			33,993
Employee stock purchase plan	1,037			1,020			3,183			2,929
Total stock-based compensation	18,863			17,101			59,580			53,476
Benefit from income taxes	(3,320		)	(3,488		)	(10,545		)	(11,041		)
Total stock-based compensation, net of tax	$	15,543		$	13,613		$	49,035		$	42,435

Expense - By Income Statement Line Item Classification

	Fiscal Quarter Ended						Fiscal Year-To-Date Ended
	June 28, 2019			June 29, 2018			June 28, 2019			June 29, 2018
Compensation expense - by classification
Cost of products and services	$	428		$	400		$	1,328		$	1,167
Research and development	5,830			4,859			17,856			14,486
Sales and marketing	6,918			6,469			$	22,352		$	18,266
General and administrative	5,687			5,373			18,044			19,557
Total stock-based compensation expense	18,863			17,101			59,580			53,476
Benefit from income taxes	(3,320		)	(3,488		)	(10,545		)	(11,041		)
Total stock-based compensation, net of tax	$	15,543		$	13,613		$	49,035		$	42,435

Schedule of Tax Benefit from Exercise of Options

This benefit was as follows (in thousands):

	Fiscal Quarter Ended				Fiscal Year-To-Date Ended
	June 28, 2019		June 29, 2018		June 28, 2019		June 29, 2018
Tax benefit - shares issued under ESPP	$	104	$	113	$	305	$	470

Schedule of Stock Repurchase Authorizations

The following table summarizes the initial amount of authorized repurchases as well as additional repurchases approved by our Board of Directors as of June 28, 2019 (in thousands):

Authorization Period	Authorization Amount
Fiscal 2010: November 2009	$	250,000
Fiscal 2010: July 2010	300,000
Fiscal 2011: July 2011	250,000
Fiscal 2012: February 2012	100,000
Fiscal 2015: October 2014	200,000
Fiscal 2017: January 2017	200,000
Fiscal 2018: July 2018	350,000
Total	$	1,650,000

Schedule of Stock Repurchase Activity

The following table provides information regarding share repurchase activity under the program during fiscal 2019:

Quarterly Repurchase Activity	Shares Repurchased	Cost in thousands (1)		Average Price Paid Per Share (2)
Q1 - Quarter ended December 28, 2018	1,642,107	$	112,570	$	68.54
Q2 - Quarter ended March 29, 2019	1,318,250	85,351		64.73
Q3 - Quarter ended June 28, 2019	1,405,065	88,653		63.08
Total	4,365,422	$	286,574

(1) Cost of share repurchases includes the price paid per share and applicable commissions.

(2)

Average price paid per share excludes commission costs.

Dividends Declared

The following table summarizes dividends declared under the program in relation to fiscal 2019:

Fiscal Period	Announcement Date	Record Date	Payment Date	Cash Dividend Per Common Share		Dividend Payment
Fiscal 2019
Q1 - Quarter ended December 28, 2018	January 30, 2019	February 12, 2019	February 21, 2019	$	0.19	$19.5 million
Q2 - Quarter ended March 29, 2019	May 1, 2019	May 14, 2019	May 22, 2019	$	0.19	$19.3 million
Q3 - Quarter ended June 28, 2019	August 1, 2019	August 12, 2019	August 20, 2019	$	0.19	$19.1 million	(1)

(1)

The amount of the dividend payment is estimated based on the number of shares of our Class A and Class B common stock that we estimate will be outstanding as of the Record Date.