XML 52 R36.htm IDEA: XBRL DOCUMENT v3.24.3
INCOME TAX (Tables)
12 Months Ended
Sep. 28, 2024
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]
Year Ended
September 28,
2024
September 30,
2023
October 1,
2022
(In thousands)
Domestic$131,930 $157,548 $145,671 
Foreign185,605 255,259 156,649 
Total$317,535 $412,807 $302,320 
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
Year Ended
September 28,
2024
September 30,
2023
October 1,
2022
(In thousands)
Federal:
Current$1,814 $362 $1,070 
Deferred23,581 36,431 25,399 
State:
Current2,888 3,188 1,711 
Deferred3,048 3,329 3,081 
Foreign:
Current44,816 53,346 31,241 
Deferred3,637 (11,362)(566)
Total provision for income taxes$79,784 $85,294 $61,936 
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
As of
September 28,
2024
September 30,
2023
(In thousands)
Deferred tax assets:
U.S. net operating loss carryforwards$15,600 $51,741 
Foreign net operating loss carryforwards111,332 109,089 
Intangibles14,268 17,921 
Accruals not currently deductible45,515 43,831 
Property, plant and equipment25,945 28,932 
Tax credit carryforwards23,086 20,235 
Reserves not currently deductible17,332 23,341 
Stock compensation expense6,725 6,049 
Federal benefit of foreign operations25,679 22,486 
Capitalized research and development13,630 4,965 
Lease deferred tax asset17,802 16,987 
Other13,822 2,720 
Valuation allowance(121,035)(116,075)
Total deferred tax assets209,701 232,222 
Deferred tax liabilities on undistributed earnings(21,414)(14,775)
Deferred tax liabilities on branch operations(23,473)(24,001)
Revenue recognition— (1,874)
Lease deferred tax liability(17,510)(16,671)
Net deferred tax assets$147,304 $174,901 
Recorded as:
Deferred tax assets$160,703 $177,597 
Deferred tax liabilities(13,399)(2,696)
Net deferred tax assets$147,304 $174,901 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
Year Ended
September 28,
2024
September 30,
2023
October 1,
2022
Federal tax at statutory tax rate21.00 %21.00 %21.00 %
Effect of foreign operations2.15 0.81 3.52 
Permanent items1.87 0.96 0.08 
Federal credits(0.98)(0.57)(0.73)
Other(0.20)0.06 0.59 
State income taxes, net of federal benefit2.24 1.43 1.60 
Release of foreign tax reserves(0.95)(3.03)(5.57)
Effective tax rate25.13 %20.66 %20.49 %
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]
Year Ended
September 28,
2024
September 30,
2023
October 1,
2022
(In thousands)
Balance, beginning of year$44,707 $53,552 $67,781 
Increase (decrease) related to prior year tax positions3,480 (331)(4,456)
Increase related to current year tax positions2,500 2,040 7,154 
Settlements— (1,911)(7,596)
Decrease related to lapse of time and expiration of statutes of limitations(2,144)(8,643)(9,331)
Balance, end of year$48,543 $44,707 $53,552