Stockholders' Equity And Stock-Based Compensation (Tables)

12 Months Ended

Sep. 27, 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 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	1,253		64.61
Exercises	(1,177	)	36.17
Forfeitures and cancellations	(240	)	54.24
Options outstanding at September 27, 2019	7,201		48.03		6.3	$	114,500
Options vested and expected to vest at September 27, 2019	6,921		47.43		6.2	114,091
Options exercisable at September 27, 2019	4,355		$	41.18	5.4	98,496

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	1,348		64.97
Vested	(1,062	)	48.08
Forfeitures	(287	)	56.83
Non-vested at September 27, 2019	2,805		$	58.84

Schedule of Share-Based Payment Fair Value by Vesting Date

The fair value as of the respective vesting dates of RSUs were as follows (in thousands):

	Fiscal Year Ended
	September 27, 2019		September 28, 2018		September 29, 2017
Restricted stock units - vest date fair value	$	69,956	$	64,755	$	51,985

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

ime.

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

	Fiscal Year Ended
	September 27, 2019		September 28, 2018		September 29, 2017
Expected term (in years)	4.90		5.06		5.13
Risk-free interest rate	2.7	%	2.2	%	2.1	%
Expected stock price volatility	22.9	%	22.6	%	27.4	%
Dividend yield	1.1	%	1.1	%	1.1	%

Summary Of Weighted-Average Fair Value Of Stock Options Granted And Total Intrinsic Value Of Stock Options Exercised

s:

	Fiscal Year Ended
	September 27, 2019		September 28, 2018		September 29, 2017
Expected term (in years)	4.90		5.06		5.13
Risk-free interest rate	2.7	%	2.2	%	2.1	%
Expected stock price volatility	22.9	%	22.6	%	27.4	%
Dividend yield	1.1	%	1.1	%	1.1	%

The following table summarizes the weighted-average fair value (per share) of stock options granted and the total intrinsic value of stock options exercised (in thousands):

	Fiscal Year Ended
	September 27, 2019		September 28, 2018		September 29, 2017
Stock options granted - weighted-average grant date fair value	$	14.16	$	13.19	$	11.39
Stock options exercised - intrinsic value	33,226		63,973		28,544

Schedule Of Stock-Based Compensation Expense By Plan

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 Year Ended
	September 27, 2019			September 28, 2018			September 29, 2017
Stock options	$	17,742		$	21,083		$	18,630
Restricted stock units	54,650			46,162			43,171
Employee stock purchase plan	4,188			4,004			3,542
Total stock-based compensation	76,580			71,249			65,343
Estimated benefit from income taxes	(12,884		)	(12,595		)	(18,959		)
Total stock-based compensation, net of tax	$	63,696		$	58,654		$	46,384

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

Expense - By Income Statement Classification

	Fiscal Year Ended
Compensation Expense - By Classification	September 27, 2019			September 28, 2018			September 29, 2017
Cost of products and services	$	1,710		$	1,574		$	1,458
Research and development	23,191			19,515			18,497
Sales and marketing	28,137			24,997			26,175
General and administrative	23,542			25,163			19,213
Total stock-based compensation	76,580			71,249			65,343
Estimated benefit from income taxes	(12,884		)	(12,595		)	(18,959		)
Total stock-based compensation, net of tax	$	63,696		$	58,654		$	46,384

Schedule of Tax Benefit from Exercise of Options

on

	Fiscal Year Ended
Compensation Expense - By Classification	September 27, 2019			September 28, 2018			September 29, 2017
Cost of products and services	$	1,710		$	1,574		$	1,458
Research and development	23,191			19,515			18,497
Sales and marketing	28,137			24,997			26,175
General and administrative	23,542			25,163			19,213
Total stock-based compensation	76,580			71,249			65,343
Estimated benefit from income taxes	(12,884		)	(12,595		)	(18,959		)
Total stock-based compensation, net of tax	$	63,696		$	58,654		$	46,384

The tax benefit that we recognize from shares issued under our ESPP is excluded from the tables above. This benefit was as follows (in thousands):

	Fiscal Year Ended
	September 27, 2019		September 28, 2018		September 29, 2017
Tax benefit - shares issued under ESPP	$	353	$	577	$	802

Schedule of Treasury Stock Authorizations

The following table summarizes the initial amount of authorized repurchases as well as additional repurchases approved by our Board of Directors as of September 27, 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
Fiscal 2019: July 2019	350,000
Total	$	2,000,000

Schedule of Stock Repurchase Activity

y $361 million.

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

Quarterly Repurchase Activity	Shares Repurchased	Cost (1)		Average Price Paid Per Share (2)
		(in thousands)
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
Q4 - Quarter ended September 27, 2019	902,187	54,011		59.94
Total	5,267,609	$	340,585

(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 during 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	$19.2 million
Q4 - Quarter ended September 27, 2019	November 14, 2019	November 26, 2019	December 4, 2019	$	0.22	$22.0 million	(1)

(1)

The dividend payment amount 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.