REVISION OF PREVIOUSLY REPORTED INCOME TAXES AND DEFERRED TAX LIABILITIES (Notes)

12 Months Ended

Oct. 01, 2016

Accounting Changes and Error Corrections [Abstract]

REVISION OF PREVIOUSLY REPORTED INCOME TAXES AND DEFERRED TAX LIABILITIES

REVISION OF PREVIOUSLY REPORTED INCOME TAXES AND DEFERRED TAX LIABILITIES

In the first quarter of fiscal 2016, the Company identified an error related to the income tax expense and related deferred income tax liabilities accounts that impacted the Company’s previously issued interim and annual consolidated financial statements. The adjustment relates to the local taxes in a foreign jurisdiction that resulted in an increased provision for income taxes expense and deferred income tax liabilities that should have been recorded prior to fiscal 2014.

The Company determined that this error was not material to any of the Company’s prior annual and interim period consolidated financial statements and therefore, amendments of previously filed reports were not required. However, the Company determined that the impact of the correction may be considered material to the income for fiscal 2016. As such, a revision for the correction is reflected in the financial information of the applicable prior periods in this Form 10-K filing and disclosure of the revised amount on other prior periods will be reflected in future filings covering the applicable period. The error resulted in a cumulative correction to beginning retained earnings and deferred tax liabilities of $2.6 million on the Consolidated Balance Sheet as of October 3, 2015 and retained earnings as of September 28, 2013, September 27, 2014 and October 3, 2015 of $2.6 million on the Consolidated Statements of Changes in Shareholders' Equity. Since the error relates to financial periods prior to fiscal 2014, there was no impact to the Consolidated Statements of Operations, the Consolidated Statements of Comprehensive Income or the Consolidated Statements of Cash Flows for fiscal 2016 ended October 1, 2016.

The impact of this revision for the period presented within this annual report on Form 10-K is shown in the table below:

CONSOLIDATED BALANCE SHEET

	As of October 3, 2015
	As previously reported		Adjustment			As Revised
Deferred income taxes	31,316		2,642			33,958
TOTAL LIABILITIES	$	132,575	$	2,642		$	135,217
Retained earnings	405,505		(2,642		)	402,863
TOTAL SHAREHOLDERS' EQUITY	$	771,891	$	(2,642	)	$	769,249

STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY

	Retained earnings
	As previously reported		Adjustment			As Revised
Balances as of September 28, 2013	$	291,878	$	(2,642	)	$	289,236
	.
Balances as of September 27, 2014	$	354,866	$	(2,642	)	$	352,224
Balances as of October 3, 2015	$	405,505	$	(2,642	)	$	402,863