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Description Of Business And Significant Accounting Policies (Policy)
12 Months Ended
Oct. 01, 2016
New Accounting Pronouncement, Early Adoption [Line Items]  
New Accounting Pronouncements, Policy
New Accounting Pronouncements: In March 2016, the Financial Accounting Standards Board (“FASB”) issued guidance that changes the accounting for certain aspects of share-based payments to employees. The guidance requires the recognition of the income tax effects of awards in the income statement when the awards vest or are settled, thus eliminating additional paid-in capital pools. The guidance also allows for the employer to repurchase more of an employee’s shares for tax withholding purposes without triggering liability accounting. In addition, the guidance allows for a policy election to account for forfeitures as they occur rather than on an estimated basis. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. Early adoption is permitted. The adoption of the new standard is not expected to have a material impact on the Company's Consolidated Financial Statements.
In February 2016, the FASB issued guidance that primarily requires lessees to recognize most leases on their balance sheets but record expenses on their income statements in a manner similar to current accounting. For lessors, the guidance modifies the classification criteria and the accounting for sales-type and direct financing leases. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early adoption is permitted. The Company is currently in the process of assessing the impact of the adoption of the new standard on its Consolidated Financial Statements and the timing of adoption.
In November 2015, the FASB issued an accounting standard to simplify the presentation of deferred taxes. The new guidance requires that all deferred tax assets and liabilities, along with any related valuation allowance, be classified as noncurrent on the balance sheet, as opposed to being presented as current and non-current. This guidance is required to be adopted for annual periods beginning after December 15, 2016, and interim periods within those annual periods. In the fourth quarter of fiscal 2016, the Company elected to early adopt the guidance retrospectively. The adoption resulted in a reclassification of $10.7 million of current deferred income tax assets and $9.7 million of non-current deferred income tax liabilities to non-current deferred income tax assets in the Company’s consolidated balance sheet as of October 3, 2015.
In April 2015, the FASB issued an amendment that requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Under the new guidance, the recognition and measurement of debt issuance costs is not affected. This guidance is effective for annual periods beginning on or after December 15, 2015. In the fourth quarter of fiscal 2016, the Company elected to early adopt the guidance retrospectively. The adoption resulted in a reclassification of $1.0 million of deferred financing costs from other non-current assets to long-term debt and capital lease obligations, net of current portion in the Company’s consolidated balance sheet as of October 3, 2015.
In May 2014, the FASB issued amended guidance for revenue recognition. The standard's core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under current guidance. This may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. In July 2015 the FASB approved a one-year deferral of the standard. The new standard will become effective retrospectively for the Company for the fiscal first quarter of 2019, with early adoption permitted, but not before the original effective date (fiscal first quarter of 2018). The Company is currently in the process of evaluating the impact of the adoption of this guidance on its Consolidated Financial Statements.
The Company has determined that no other recently issued accounting standards will have a material impact on its Consolidated Financial Statements, or will not apply to its operations.
Accounting Standards Update 2015-17 [Member]  
New Accounting Pronouncement, Early Adoption [Line Items]  
New Accounting Pronouncements and Changes in Accounting Principles
In the fourth quarter of fiscal 2016, the Company elected to early adopt the guidance retrospectively. The adoption resulted in a reclassification of $10.7 million of current deferred income tax assets and $9.7 million of non-current deferred income tax liabilities to non-current deferred income tax assets in the Company’s consolidated balance sheet as of October 3, 2015.
Accounting Standards Update 2015-03 [Member]  
New Accounting Pronouncement, Early Adoption [Line Items]  
New Accounting Pronouncements and Changes in Accounting Principles
In the fourth quarter of fiscal 2016, the Company elected to early adopt the guidance retrospectively. The adoption resulted in a reclassification of $1.0 million of deferred financing costs from other non-current assets to long-term debt and capital lease obligations, net of current portion in the Company’s consolidated balance sheet as of October 3, 2015.