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Summary Of Significant Accounting Policies (Tables)
12 Months Ended
Sep. 29, 2018
Accounting Policies [Abstract]  
Schedule of New Accounting Pronouncements Recent Accounting Pronouncements Adopted
Standard
 
Description
 
Financial Statement Effect or Other Significant Matters
ASU no. 2018-02
Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income
 
The standard amends existing guidance and allows a reclassification from accumulated other comprehensive income (loss) to retained earnings for stranded deferred tax effects resulting from the Tax Cuts and Jobs Act. The standard requires certain disclosures about stranded deferred tax effects. The provisions of the standard are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted.
 
We adopted this standard recording the related stranded deferred tax effects in the period of adoption, resulting in $47,077 being reclassified from accumulated other comprehensive income (loss) to retained earnings as of March 31, 2018.
Date early adopted:
Q2 2018




Recent Accounting Pronouncements Not Yet Adopted
Standard
 
Description
 
Financial Statement Effect or Other Significant Matters
ASU no. 2014-09
Revenue from Contracts with Customers
(And All Related ASUs)

 
The standard requires revenue recognition to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard also requires additional disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. The provisions of the standard, as well as all subsequently issued clarifications to the standard, are effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. The standard can be adopted using either a full retrospective or modified retrospective approach.

 
We will adopt the standard using the modified retrospective method, under which prior years' results are not restated, but supplemental information will be provided in our disclosures that will present fiscal 2019 results before adoption of the standard. In addition, a cumulative adjustment will be necessary to Shareholders' Equity at the beginning of 2019. We have implemented changes to our financial policies, information technology systems and internal controls and we are prepared to present our financial statements and the related disclosures in compliance with the standard. We have identified four revenue streams - commercial contracts, United States government contracts, repair and overhaul arrangements and foreign government and other contracts. The impact of this standard is significant on our United States government and repair and overhaul revenue streams, but will not significantly impact our commercial or foreign government and other revenue streams. For the revenue streams significantly impacted, more revenue will be recognized over time when compared to prior years, as we are creating or enhancing assets that the customer controls as the assets are being created or enhanced.  We estimate the adoption of this standard to result in a cumulative adjustment of approximately $16,000, which will be an increase to Shareholders’ Equity.
Planned date of adoption:
Q1 2019
ASU no. 2016-02
Leases
(And All Related ASUs)

 
The standard requires most lease arrangements to be recognized in the balance sheet as lease assets and lease liabilities. The standard also requires additional disclosures about the leasing arrangements. The provisions of the standard are effective for fiscal years beginning after December 15, 2018 and interim periods within those years. Early adoption is permitted.
 
We are currently evaluating the effect on our financial statements and related disclosures.
Planned date of adoption:
Q1 2020
ASU no. 2017-07
Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost
 
The standard amends existing guidance on the presentation of net periodic benefit cost in the income statement and what qualifies for capitalization on the balance sheet. The provisions of the standard are effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. Early adoption is permitted as of the beginning of an annual period. The amendment requires income statement presentation provisions to be applied retrospectively and capitalization in assets provisions to be applied prospectively.

 
We anticipate the adoption of this standard will decrease operating expenses (Cost of sales, Research and development and Selling, general and administrative) and increase Other expense by $6,778 for the year ended September 29, 2018 and $12,595 for the year ended September 30, 2017. The adoption of this standard will not have a material impact on our Consolidated Balance Sheets, Consolidated Statements of Cash Flows and Notes to Consolidated Financial Statements.
Planned date of adoption:
Q1 2019
ASU no. 2017-12
Targeted Improvements to Accounting for Hedging Activities
 
The standard expands the hedging strategies eligible for hedge accounting, while simplifying presentation and disclosure by eliminating separate measurement and reporting of hedge ineffectiveness. The provisions of the standard are effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early adoption is permitted.
 
We are currently evaluating the effect on our financial statements and related disclosures.

Planned date of adoption:
Q1 2020
ASU no. 2018-15
Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract

 
The standard amends ASC 350 to include in its scope implementation costs of a Cloud Computing Arrangement (CCA) that is a service contract and clarifies that a customer should apply ASC 350-40 to determine which implementation costs should be capitalized in a CCA that is considered a service contract. The ASU is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years. Early adoption is permitted. The amendments should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption.
 
We are currently evaluating the effect on our financial statements and related disclosures.
Planned date of adoption:
Q1 2021