XML 115 R42.htm IDEA: XBRL DOCUMENT v3.19.3
Stockholders' Equity and Stock Compensation Plans (Tables)
 12 Months Ended
Sep. 29, 2019
Stockholders' Equity Note [Abstract]  
Schedule of the stock-based compensation and related income tax benefits
The stock-based compensation and related income tax benefits were as follows:
 
Fiscal Year Ended
 
September 29,
2019
 
September 30,
2018
 
October 1,
2017
 
(in thousands)
Total stock-based compensation
$
17,618

 
$
19,582

 
$
13,450

Income tax benefit related to stock-based compensation
(4,016
)
 
(5,288
)
 
(4,715
)
Stock-based compensation, net of tax benefit
$
13,602

 
$
14,294

 
$
8,735
Schedule of stock option activity
Stock option activity for the fiscal year ended September 29, 2019 was as follows:
 
Number of
Options
(in thousands)
 
Weighted-
Average
Exercise Price
per Share
 
Weighted-
Average
Remaining
Contractual
Term
(in years)
 
Aggregate
Intrinsic Value
(in thousands)
Outstanding on September 30, 2018
1,355

 
$
30.87

 
 
 
 

Exercised
(456
)
 
26.21

 
 
 
 

Forfeited
(5
)
 
23.48

 
 
 
 

Outstanding at September 29, 2019
894

 
33.28

 
5.08
 
$
46,176

 
 
 
 
 
 
 
 
Vested or expected to vest at September 29, 2019
894

 
33.28

 
5.08
 
46,176

Exercisable on September 29, 2019
671

 
30.75

 
4.33
 
36,346
Schedule of assumptions used in the calculation of the fair value of stock options using the Black-Scholes option pricing model
The fair value of our stock options was estimated on the date of grant using the Black-Scholes option pricing model. There were no options granted in fiscal 2019. The following assumptions were used in the calculation for fiscal 2018 and 2017:
 
Fiscal Year Ended
 
September 30,
2018
 
October 1,
2017
Dividend yield
1.0%
 
1.0%
Expected stock price volatility
36.1% - 38.8%
 
36.1% - 38.8%
Risk-free rate of return, annual
1.7% - 2.9%
 
1.7% - 1.9%
Schedule of RSU and PSU activity
A summary of the RSU and PSU activity under our stock plans is as follows:
 
RSU
 
PSU
 
Number of
Shares
(in thousands)
 
Weighted-
Average
Grant Date
Fair Value
per Share
 
Number of
Shares
(in thousands)
 
Weighted-
Average
Grant Date
Fair Value
per Share
 
 
 
 
 
 
 
 
Nonvested balance at October 2, 2016
499

 
$
27.16

 
277

 
$
31.65

Granted
226

 
41.00

 
99

 
48.36

Vested
(186
)
 
26.98

 
—

 
—

Forfeited
(28
)
 
30.15

 
—

 
—

Nonvested balance at October 1, 2017
511

 
33.19

 
376

 
36.05

Granted
199

 
48.16

 
99

 
57.40

Vested
(184
)
 
31.85

 
(270
)
 
31.66

Adjustment (1)
—

 
—

 
131

 
31.66

Forfeited
(38
)
 
36.39

 
(13
)
 
41.80

Nonvested balance at September 30, 2018
488

 
39.56

 
323

 
44.27

Granted
179

 
66.26

 
90

 
80.41

Vested
(180
)
 
36.95

 
(108
)
 
31.63

Adjustment (1)
—

 
—

 
79

 
31.63

Forfeited
(17
)
 
48.56

 
—

 
—

Nonvested balance at September 29, 2019
470

 
50.42

 
384

 
53.67

 
 
 
 
 
 
 
 

(1)
For fiscal 2018, includes a payout adjustment of 130,730 PSUs due to the actual performance level achieved for PSUs granted in fiscal 2015 that vested fiscal 2018. For fiscal 2019, includes a payout adjustment of 79,465 PSUs due to the actual performance level achieved for PSUs granted in fiscal 2016 that vested during fiscal 2019.
Summary of shares purchased, weighted-average purchase price, cash received, and the aggregate intrinsic value for shares purchased under the ESPP
The following table summarizes shares purchased, weighted-average purchase price, cash received and the aggregate intrinsic value for shares purchased under the ESPP:
 
Fiscal Year Ended
 
September 29,
2019
 
September 30,
2018
 
October 1,
2017
 
(in thousands, except for purchase price)
Shares purchased
148

 
141

 
190

Weighted-average purchase price
$
46.38

 
$
40.38

 
$
26.02

Cash received from exercise of purchase rights
$
6,844

 
$
5,727

 
$
4,940

Aggregate intrinsic value
$
277

 
$
337

 
$
—
Schedule of the assumptions used in the Black-Scholes option pricing model in estimating the grant date fair value of each award granted under the ESPP
The grant date fair value of each award granted under the ESPP was estimated using the Black-Scholes option pricing model with the following assumptions:
 
Fiscal Year Ended
 
September 29,
2019
 
September 30,
2018
 
October 1,
2017
Dividend yield
1.0%
 
1.0%
 
1.0%
Expected stock price volatility
26.7%
 
24.0%
 
22.4%
Risk-free rate of return, annual
2.6%
 
1.8%
 
0.9%
Expected life (in years)
1
 
1
 
1