Income Taxes (Tables)

12 Months Ended

Sep. 29, 2024

Income Tax Disclosure [Abstract]

Schedule of income before income taxes, by geographical area

Income before income taxes, by geographic area, was as follows (in thousands):

	Fiscal Year Ended
	September 29, 2024		October 1, 2023		October 2, 2022
Income before income taxes:
United States	$	294,401	$	287,295	$	262,428
Foreign	169,065		113,683		86,338
Total income before income taxes	$	463,466	$	400,978	$	348,766

Schedule of components of income tax expense

Income tax expense consisted of the following (in thousands):

	Fiscal Year Ended
	September 29, 2024		October 1, 2023		October 2, 2022
Current:
Federal	$	76,851	$	110,371	$	47,447
State	20,997		16,025		9,613
Foreign	44,402		28,970		26,332
Total current income tax expense	142,250		155,366		83,392
Deferred:
Federal	(18,734)		(18,062)		(424)
State	(6,747)		(4,976)		(382)
Foreign	13,254		(4,802)		3,016
Total deferred income tax (benefit) expense	(12,227)		(27,840)		2,210
Total income tax expense	$	130,023	$	127,526	$	85,602

Schedule of reconciliation of income tax rate

Total income tax expense was different from the amount computed by applying the U.S. federal statutory rate to pre-tax income as follows:

	Fiscal Year Ended
	September 29, 2024	October 1, 2023	October 2, 2022
Tax at federal statutory rate	21.0%	21.0%	21.0%
State taxes, net of federal benefit	2.4	2.2	2.1
Research and Development ("R&D") credits	(1.2)	(0.5)	(1.0)
Tax differential on foreign earnings	2.0	1.5	1.0
Stock compensation	(0.4)	(0.4)	(2.0)
Valuation allowance	(0.1)	1.3	0.2
Change in uncertain tax positions	1.3	11.6	(1.1)
Return to provision	(1.0)	1.1	1.4
Disallowed officer compensation	0.9	1.2	1.9
Unremitted earnings	0.4	0.2	(0.2)
Hedging gain	—	(5.7)	—
Deferred tax adjustments	0.8	(2.3)	0.1
Audit settlements	0.9	—	—
Other	1.1	0.6	1.1
Total income tax expense	28.1%	31.8%	24.5%

Schedule of temporary differences comprising the net deferred income tax asset

Temporary differences comprising the net deferred income tax asset shown on the accompanying consolidated balance sheets were as follows (in thousands):

	Fiscal Year Ended
	September 29, 2024		October 1, 2023
Deferred Tax Assets:
State taxes	$	3,916	$	2,686
Reserves and contingent liabilities	—		2,849
Accounts receivable including the allowance for doubtful accounts	5,315		5,323
Accrued liabilities	64,929		64,155
Lease liabilities, operating leases	51,841		53,437
Stock-based compensation	1,923		1,900
Unbilled revenue	9,273		3,090
Loss and other carry-forwards	48,256		67,673
Property and equipment	—		552
Capitalized research and development	37,417		17,778
Capped call transactions	10,311		12,696
Valuation allowance	(16,841)		(16,559)
Total deferred tax assets	216,340		215,580
Deferred Tax Liabilities:
Prepaid expense	(3,065)		(2,702)
Reserves and contingent liabilities	(153)		—
Right-of-use assets, operating leases	(51,841)		(53,437)
Intangibles	(81,623)		(83,242)
Undistributed earnings	(2,708)		(1,453)
Property and equipment	(1,583)		—
Total deferred tax liabilities	(140,973)		(140,834)
Net deferred tax assets	$	75,367	$	74,746

Reconciliation of the beginning and ending amounts of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

	Fiscal Year Ended
	September 29, 2024		October 1, 2023		October 2, 2022
Beginning balance	$	53,619	$	8,908	$	12,899
Acquisition of RPS Group	—		6,012		—
Additions for current fiscal year tax positions	1,000		27,272		—
Additions for prior fiscal year tax positions	1,000		14,602		—
Reductions for prior fiscal year tax positions	—		(1,358)		(3,014)
Settlements	(14,179)		(1,817)		(977)
Ending balance	$	41,440	$	53,619	$	8,908