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Earnings Per Share and Certain Related Information
 12 Months Ended
Oct. 02, 2020
Earnings Per Share Reconciliation [Abstract]  
Earnings Per Share and Certain Related Information Earnings Per Share and Certain Related Information
Basic and Diluted Earnings Per Share
Basic and diluted earnings per share (“EPS”) are computed using the two-class method, which is an earnings allocation method that determines EPS for common shares and participating securities. The undistributed earnings are allocated between common shares and participating securities as if all earnings had been distributed during the period. Participating securities and common shares have equal rights to undistributed earnings. Net earnings used for the purpose of determining basic and diluted EPS is determined by taking net earnings, less earnings available to participating securities.
The following table reconciles the denominator used to compute basic EPS to the denominator used to compute diluted EPS for the years ended October 2, 2020, September 27, 2019 and September 28, 2018 (in thousands):
For the Years Ended
October 2, 2020September 27, 2019September 28, 2018
Numerator for Basic and Diluted EPS:
Net earnings (loss) attributable to Jacobs from continuing operations$353,861 $290,960 $(4,185)
Net earnings from continuing operations allocated to participating securities(72)(415)— 
Net earnings (loss) from continuing operations allocated to common stock for EPS calculation$353,789 $290,545 $(4,185)
Net earnings attributable to Jacobs from discontinued operations$137,984 $557,019 $167,616 
Net earnings from discontinued operations allocated to participating securities(28)(795)(808)
Net earnings from discontinued operations allocated to common stock for EPS calculation$137,956 $556,224 $166,808 
Net earnings allocated to common stock for EPS calculation$491,745 $846,769 $162,623 
Denominator for Basic and Diluted EPS:
Weighted average basic shares131,541 138,104 138,182 
Shares allocated to participating securities(27)(197)(646)
Shares used for calculating basic EPS attributable to common stock131,514 137,907 137,536 
Effect of dilutive securities:
Stock compensation plans (1)1,207 1,299 — 
Shares used for calculating diluted EPS attributable to common stock132,721 139,206 137,536 
Net Earnings Per Share:
Basic Net Earnings (Loss) from Continuing Operations Per Share$2.69 $2.11 $(0.03)
Basic Net Earnings from Discontinued Operations Per Share$1.05 $4.03 $1.21 
Basic EPS$3.74 $6.14 $1.18 
Diluted Net Earnings (Loss) from Continuing Operations Per Share$2.67 $2.09 $(0.03)
Diluted Net Earnings from Discontinued Operations Per Share$1.04 $4.00 $1.21 
Diluted EPS$3.71 $6.08 $1.18 
(1)     For the fiscal 2018 period, because net earnings (loss) from continuing operations was a loss, the effect of antidilutive securities of 1,176 was excluded from the denominator in calculating diluted EPS.
Share Repurchases
On January 17, 2019, the Company’s Board of Directors authorized a share repurchase program of up to $1.0 billion of the Company’s common stock, to expire on January 16, 2022 (the "2019 Repurchase Authorization"). During fiscal 2019, the Company launched accelerated share repurchase programs by advancing a total of $500 million to two financial institutions in privately negotiated transactions (collectively, the "2019 ASR Programs"). The specific number of shares that the Company repurchased under the 2019 ASR Programs was determined based generally on a discount to the volume-weighted average price per share of the Company's common stock during a calculation period which ended on June 5, 2019 for the first $250 million in repurchases and on December 4, 2019 for the second $250 million in repurchases. The purchases were recorded as share retirements for purposes of calculating earnings per share.
The following table summarizes the activity under the 2019 Repurchase Authorization during fiscal 2020:
Amount Authorized
(2019 Repurchase Authorization)		Average Price Per Share (1)Shares RepurchasedTotal Shares Retired
$1,000,000,000$81.684,129,0034,129,003
(1)Includes commissions paid and calculated at the average price per share
As a precautionary measure in light of the COVID-19 pandemic, the Company temporarily suspended purchases under the share repurchase plan in March 2020, with such suspension remaining in effect through the fiscal third quarter of 2020. During the fourth fiscal quarter of 2020, the Company resumed share repurchases on a limited basis. As of October 2, 2020, the Company has $57.9 million remaining under the 2019 Repurchase Authorization.
On January 16, 2020, the Company’s Board of Directors authorized an additional share repurchase program of up to $1.0 billion of the Company’s common stock, to expire on January 15, 2023 (the "2020 Repurchase Authorization"). There have been no repurchases under the 2020 Repurchase Authorization as of October 2, 2020.
The share repurchase programs do not obligate the Company to purchase any shares. Share repurchases may be executed through various means including, without limitation, accelerated share repurchases, open market transactions, privately negotiated transactions, purchases pursuant to a Rule 10b5-1 plan or otherwise. The authorization for the share repurchase programs may be terminated, increased or decreased by the Company’s Board of Directors in its discretion at any time. The timing, amount and manner of share repurchases may depend upon market conditions and economic circumstances, availability of investment opportunities, the availability and costs of financing, currency fluctuations, the market price of the Company's common stock, other uses of capital and other factors.
Common and Preferred Stock
Jacobs is authorized to issue two classes of capital stock designated “common stock” and “preferred stock” (each has a par value of $1.00 per share). The preferred stock may be issued in one or more series. The number of shares to be included in a series as well as each series’ designation, relative powers, dividend and other preferences, rights and qualifications, redemption provisions and restrictions are to be fixed by the Company’s Board of Directors at the time each series is issued. Except as may be provided by the Company’s Board of Directors in a preferred stock designation, or otherwise provided for by statute, the holders of shares of common stock have the exclusive right to vote for the election of directors and on all other matters requiring stockholder action. The holders of shares of common stock are entitled to dividends if and when declared by the Company’s Board of Directors from whatever assets are legally available for that purpose.
Dividends
On September 17, 2020, the Company’s Board of Directors declared a quarterly dividend of $0.19 per share of the Company’s common stock which was paid on October 30, 2020, to shareholders of record on the close of business on October 2, 2020. Future dividend declarations are subject to review and approval by the Company’s Board of Directors. Dividends paid through October 2, 2020 and the preceding fiscal year are as follows:  
Declaration DateRecord DatePayment DateCash Amount (per share)
July 9, 2020July 24, 2020August 21, 2020$0.19
May 5, 2020May 20, 2020June 17, 2020$0.19
January 16, 2020January 31, 2020February 28, 2020$0.19
September 19, 2019October 4, 2019November 1, 2019$0.17
July 11, 2019July 26, 2019August 23, 2019$0.17
May 2, 2019May 17, 2019June 14, 2019$0.17
January 17, 2019February 15, 2019March 15, 2019$0.17