Income Taxes (Tables)

12 Months Ended

Oct. 03, 2020

Income Tax Disclosure [Abstract]

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:

	2020			2019			2018
Earnings before income taxes:
Domestic	$	1,126		$	136,308		$	135,589
Foreign	4,291			90,644			46,590
Total	$	5,417		$	226,952		$	182,179
Federal statutory income tax rate	21.0		%	21.0		%	24.5		%
Increase (decrease) in income taxes resulting from:
Impacts of Tax Act	(96.4		)%	0.4		%	16.9		%
Revaluation of deferred taxes	(21.6		)%	(0.2		)%	(6.0		)%
Withholding taxes	27.5		%	1.0		%	4.1		%
Reversal of indefinite reinvestment assertion	(2.9		)%	0.6		%	5.7		%
R&D and foreign tax credits	(102.8		)%	(2.1		)%	(4.3		)%
Foreign tax rates	76.0		%	2.3		%	(0.7		)%
Equity-based compensation	(6.5		)%	(0.7		)%	(0.7		)%
Change in valuation allowance for deferred taxes	21.1		%	(0.7		)%	5.7		%
State taxes, net of federal benefit	(1.9		)%	1.4		%	1.9		%
Other	16.6		%	0.1		%	0.6		%
Effective income tax rate	(69.9		)%	23.1		%	47.7		%

Components Of Income Taxes

The components of income taxes are as follows:

	2020			2019			2018
Current:
Federal	$	14,789		$	23,302		$	19,985
Foreign	18,997			29,460			35,515
State	3,271			4,240			705
Total current	37,057			57,002			56,205
Deferred:
Federal	(35,603		)	(5,666		)	23,229
Foreign	(1,843		)	1,413			3,354
State	(3,399		)	(345		)	4,030
Total deferred	(40,845		)	(4,598		)	30,613
Income taxes (benefit)	$	(3,788	)	$	52,404		$	86,818

Schedule of Deferred Tax Assets And Liabilities

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

	October 3, 2020			September 28, 2019
Deferred tax assets:
Benefit accruals	$	78,703		$	114,077
Inventory reserves	31,571			26,364
Tax benefit carryforwards	14,146			14,196
Contract reserves not currently deductible	16,418			15,382
Lease liability	17,622			—
Other accrued expenses	12,510			4,918
Total gross deferred tax assets	170,970			174,937
Less valuation allowance	(14,784		)	(13,137		)
Total net deferred tax assets	$	156,186		$	161,800
Deferred tax liabilities:
Differences in bases and depreciation of property, plant and equipment	$	152,926		$	121,353
Pension	24,810			60,983
Total gross deferred tax liabilities	177,736			182,336
Net deferred tax assets (liabilities)	$	(21,550	)	$	(20,536	)