Note 9 Stockholders' Equity

3 Months Ended

Jan. 01, 2022

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

Stockholders' Equity

Accumulated Other Comprehensive Income

Accumulated other comprehensive income, net of tax as applicable, consisted of the following:

	As of
	January 1, 2022		October 2, 2021
	(In thousands)
Foreign currency translation adjustments	$	74,073	$	76,120
Unrealized holding losses on derivative financial instruments	(10,278)		(14,305)
Unrecognized net actuarial losses and transition costs for benefit plans	(20,409)		(21,125)
Total	$	43,386	$	40,690

Stock Repurchase Program

During the three months ended January 1, 2022 and January 2, 2021, the Company repurchased 1.5 million and 0.4 million shares of its common stock for $60 million and $9 million, respectively, under a stock repurchase program authorized by the Board of Directors in October 2019. During the first quarter of 2022, the Board of Directors approved a new $200 million stock repurchase program. These programs have no expiration dates and the timing of repurchases will depend upon capital needs to support the growth of the Company's business, market conditions and other factors. Although stock repurchases are intended to increase stockholder value, purchases of shares reduce the Company's liquidity. As of January 1, 2022, an aggregate of $221 million remains available under these programs.

In addition to the repurchases discussed above, the Company withheld 0.2 million and 0.1 million shares of its common stock during the three months ended January 1, 2022 and January 2, 2021, respectively, in settlement of employee tax withholding obligations due upon the vesting of restricted stock units. The Company paid $9 million and $3 million for the three months ended January 1, 2022 and January 2, 2021, respectively, to applicable tax authorities in connection with these repurchases.