Income Taxes (Tables)

12 Months Ended

Sep. 29, 2018

Reconciliation Of The Provision For Income Taxes

The reconciliation of the provision for income taxes to the amount computed by applying the U.S. federal statutory tax rate to earnings before income taxes is as follows:



	2018			2017			2016
Earnings before income taxes:
Domestic	$	137,247		$	77,007		$	82,848
Foreign	46,590			104,704			90,012
Total	$	183,837		$	181,711		$	172,860
Federal statutory income tax rate	24.5		%	35.0		%	35.0		%
Increase (decrease) in income taxes resulting from:
Transition tax on foreign earnings	16.8		%	—		%	—		%
Revaluation of deferred taxes	(6.0		)%	—		%	—		%
Withholding taxes	4.0		%	—		%	—		%
Reversal of indefinite reinvestment assertion	5.6		%	—		%	—		%
R&D and foreign tax credits	(4.2		)%	(3.8		)%	(30.6		)%
Divestiture impacts	—		%	(3.2		)%	—		%
Foreign tax rates	(0.7		)%	(2.4		)%	(2.7		)%
Equity-based compensation	(0.7		)%	(1.2		)%	—		%
Export and manufacturing incentives	(0.3		)%	(0.9		)%	(1.0		)%
Change in valuation allowance for deferred taxes	5.7		%	(0.4		)%	0.9		%
Change in enacted tax rates	—		%	—		%	(0.9		)%
Repatriated earnings	—		%	—		%	26.8		%
State taxes, net of federal benefit	1.9		%	0.4		%	0.5		%
Other	0.8		%	(0.8		)%	0.5		%
Effective income tax rate	47.4		%	22.7		%	28.5		%

Components Of Income Taxes

The components of income taxes are as follows:



	2018			2017			2016
Current:
Federal	$	20,376		$	6,259		$	12,812
Foreign	35,515			24,162			29,794
State	705			122			2,373
Total current	56,596			30,543			44,979
Deferred:
Federal	33,612			11,624			10,078
Foreign	(7,029		)	(1,986		)	(4,734		)
State	4,030			1,120			(1,096		)
Total deferred	30,613			10,758			4,248
Income taxes	$	87,209		$	41,301		$	49,227

Schedule of Deferred Tax Assets And Liabilities

The tax effects of temporary differences that generated deferred tax assets and liabilities are as follows:



	September 29, 2018			September 30, 2017
Deferred tax assets:
Benefit accruals	$	125,566		$	204,017
Inventory reserves	27,678			33,879
Tax benefit carryforwards	16,211			9,598
Contract loss reserves not currently deductible	11,028			15,994
Other accrued expenses	6,670			17,689
Total gross deferred tax assets	187,153			281,177
Less valuation allowance	(15,181		)	(4,775		)
Total net deferred tax assets	$	171,972		$	276,402
Deferred tax liabilities:
Differences in bases and depreciation of property, plant and equipment	$	125,132		$	169,562
Pension	75,989			93,602
Total gross deferred tax liabilities	201,121			263,164
Net deferred tax assets (liabilities)	$	(29,149	)	$	13,238