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Stockholders' Equity and Stock Compensation Plans (Tables)
12 Months Ended
Sep. 28, 2014
Stockholders' Equity and Stock Compensation Plans  
Schedule of the stock-based compensation and related income tax benefits

                                                                                                                                                                                                         

 

 

Fiscal Year Ended

 

 

 

September 28,
2014

 

September 29,
2013

 

September 30,
2012

 

 

 

(in thousands)

 

Total stock-based compensation

 

$

10,374

 

$

8,775

 

$

10,839

 

Income tax benefit related to stock-based compensation

 

 

(3,696

)

 

(3,048

)

 

(4,288

)

 

 

 

 

 

 

 

 

Stock-based compensation, net of tax benefit

 

$

6,678

 

$

5,727

 

$

6,551

 

 

 

 

 

 

 

 

 

 

Schedule of stock option activity

                                                                                                                                                                                                         

 

 

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 29, 2013

 

 

4,264

 

$

21.88

 

 

 

 

 

 

 

Granted

 

 

354

 

 

28.58

 

 

 

 

 

 

 

Exercised

 

 

(1,180

)

 

28.07

 

 

 

 

 

 

 

Cancelled

 

 

(55

)

 

22.82

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at September 28, 2014

 

 

3,383

 

$

23.14

 

 

3.9

 

$

8,365

 

 

 

 

 

 

 

 

 

 

 

Vested or expected to vest at September 28, 2014

 

 

3,321

 

$

23.10

 

 

3.8

 

$

8,217

 

 

 

 

 

 

 

 

 

 

 

Exercisable on September 28, 2014

 

 

2,447

 

$

22.29

 

 

5.7

 

$

7,313

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of assumptions used in the calculation of the fair value of stock options using the Black-Scholes option pricing model

                                                                                                                                                                                                         

 

 

Fiscal Year Ended

 

 

 

September 28,
2014

 

September 29,
2013

 

September 30,
2012

 

Dividend yield

 

 

 

 

 

 

 

Expected stock price volatility

 

 

36.1% - 38.8%

 

 

41.7% - 42.2%

 

 

41.9% - 44.0%

 

Risk-free rate of return, annual

 

 

1.3% - 1.5%

 

 

0.6% - 1.3%

 

 

0.7% - 1.1%

 

 

Schedule of restricted stock activity

                                                                                                                                                                                                        

 

 

Number of
Shares
(in thousands)

 

Weighted-
Average Grant
Date Fair
Value

 

 

 

    

 

Nonvested balance at September 29, 2013

 

 

203

 

$

23.55

 

Granted

 

 

117

 

 

28.58

 

Vested

 

 

(3

)

 

21.65

 

Forfeited

 

 

(94

)

 

23.44

 

 

 

 

 

 

 

 


Nonvested balance at September 28, 2014


 


 

223


 


$

26.26


 

 

 

 

 

 

 


Vested or expected to vest at September 28, 2014


 


 

223


 


$

26.26


 

 

 

 

 

 

 

 

Schedule of RSU activity

                                                                                                                                                                                                        

 

 

Number of
Shares
(in thousands)

 

Weighted-
Average Grant
Date Fair
Value

 

 

 

    

 

Nonvested balance at September 29, 2013

 

 

333

 

$

23.70

 

Granted

 

 

225

 

 

28.53

 

Vested

 

 

(92

)

 

23.58

 

Forfeited

 

 

(34

)

 

25.58

 

 

 

 

 

 

 


Nonvested balance at September 28, 2014


 


 

432


 


$

26.09


 

 

 

 

 

 

 

 

Summary of shares purchased, weighted-average purchase price, cash received, and the aggregate intrinsic value for shares purchased under the ESPP

                                                                                                                                                                                                         

 

 

Fiscal Year Ended

 

 

 

September 28,
2014

 

September 29,
2013

 

September 30,
2012

 

 

 

(in thousands, except for purchase price)

 

Shares purchased

 

 

245 

 

 

253 

 

 

289 

 

Weighted-average purchase price

 

$

22.99 

 

$

21.96 

 

$

18.35 

 

Cash received from exercise of purchase rights

 

$

5,604 

 

$

5,551 

 

$

5,300 

 

Aggregate intrinsic value

 

$

1,221 

 

$

1,140 

 

$

935 

 

 

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

                                                                                                                                                                                                         

 

 

Fiscal Year Ended

 

 

 

September 28,
2014

 

September 29,
2013

 

September 30,
2012

 

Dividend yield

 

 

-

 

 

-

 

 

-

 

Expected stock price volatility

 

 

29.2 

%

 

27.1 

%

 

34.7 

%

Risk-free rate of return, annual

 

 

0.1 

%

 

0.1 

%

 

0.1 

%

Expected life (in years)