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Revenue (Tables)
 3 Months Ended
Dec. 29, 2018
Revenue from Contract with Customer [Abstract]  
Impact of 606 Adoption
The impact of adopting the new revenue standard on our Consolidated Statements of Income and Consolidated Balance Sheets is as follows:
Consolidated Statements of Income
 
Three Months Ended December 29, 2018
 
 
As Reported
 
Balances without Adoption of ASC 606
 
Effect of Change
Revenue
 
$
203,181

 
$
198,438

 
$
4,743

Cost of sales
 
124,876

 
120,420

 
4,456

Gross profit
 
78,305

 
78,018

 
287

Selling and marketing
 
32,089

 
32,252

 
(163
)
Income tax provision (benefit)
 
696

 
615

 
81

Net income
 
10,501

 
10,132

 
369

 
 
 
 
 
 
 
Consolidated Balance Sheets
 
December 29, 2018
 
 
As Reported
 
Balances without Adoption of ASC 606
 
Effect of Change
Assets
 
 
 
 
 
 
Accounts receivable, net
 
$
115,384

 
$
123,814

 
$
(8,430
)
Unbilled accounts receivable, net
 
60,656

 
59,901

 
755

Inventories, net
 
183,465

 
164,298

 
19,167

Prepaid expenses and other current assets
 
30,085

 
25,933

 
4,152

Other long-term assets
 
3,841

 
2,845

 
996

Deferred income taxes
 
4,501

 
3,856

 
645

Liabilities and Shareholders' Equity
 
 
 
 
 
 
Advance payments from customers
 
101,367

 
87,148

 
14,219

Accrued income taxes
 
4,853

 
5,196

 
(343
)
Other accrued liabilities
 
26,623

 
17,891

 
8,732

Deferred income taxes
 
50,846

 
52,074

 
(1,228
)
Other long-term liabilities
 
12,623

 
10,871

 
1,752

Accumulated other comprehensive income (loss)
 
(3,691
)
 
(3,702
)
 
11

Retained earnings
 
299,493

 
305,351

 
(5,858
)
The cumulative effect of the changes made to our September 29, 2018 Consolidated Balance Sheet from the modified retrospective adoption of the new revenue standard is as follows:
Consolidated Balance Sheets
 
 
 
 
Balance at September 29, 2018
 
Adjustments due to ASC 606 Adoption
 
Balance at September 30, 2018
Assets
 
 
 
 
 
 
Accounts receivable, net
 
$
122,243

 
$
(4,481
)
 
$
117,762

Unbilled accounts receivable, net
 
70,474

 
(8,002
)
 
62,472

Inventories, net
 
139,109

 
16,727

 
155,836

Prepaid expenses and other current assets
 
24,572

 
4,651

 
29,223

Other long-term assets
 
2,263

 
1,060

 
3,323

Deferred income taxes
 
3,249

 
643

 
3,892

Liabilities and Shareholders' Equity
 
 
 
 
 
 
Advance payments from customers
 
80,131

 
13,568

 
93,699

Other accrued liabilities
 
19,146

 
(2,504
)
 
16,642

Deferred income taxes
 
46,482

 
(1,228
)
 
45,254

Other long-term liabilities
 
4,894

 
6,989

 
11,883

Retained earnings
 
300,585

 
(6,227
)
 
294,358
Disaggregation of Revenue
We disaggregate our revenue by reportable segment, sales type (product or service), the timing of recognition of revenue for transfer of goods or services to customers (point-in-time or over time), and geographic market based on the billing location of the customer. See Note 16 for further information on our reportable segments and intersegment revenue.
 
 
Three Months Ended December 29, 2018
 
 
Test & Simulation
 
Sensors
 
Intersegment
 
Total
Sales type
 
 
 
 
 
 
 
 
Product
 
$
98,907

 
$
76,500

 
$
(329
)
 
$
175,078

Service
 
26,653

 
1,450

 
—

 
28,103

Total revenue
 
$
125,560

 
$
77,950

 
$
(329
)
 
$
203,181

 
 
 
 
 
 
 
 
 
Timing of recognition
 
 
 
 
 
 
 
 
Point-in-time
 
$
79,619

 
$
77,950

 
$
(329
)
 
$
157,240

Over time
 
45,941

 
—

 
—

 
45,941

Total revenue
 
$
125,560

 
$
77,950

 
$
(329
)
 
$
203,181

 
 
 
 
 
 
 
 
 
Geographic market
 
 
 
 
 
 
 
 
Americas
 
$
39,489

 
$
37,729

 
$
(329
)
 
$
76,889

Europe
 
28,627

 
25,348

 
—

 
53,975

Asia
 
57,444

 
14,873

 
—

 
72,317

Total revenue
 
$
125,560

 
$
77,950

 
$
(329
)
 
$
203,181
Contract Assets and Contract Liabilities
Significant changes in contract assets and contract liabilities are as follows:
 
 
Contract Assets
Balance, September 29, 2018
 
$
70,474

Cumulative transition adjustment upon adoption
 
(8,002
)
Changes in estimated stage of completion
 
33,096

Transfers to accounts receivable, net
 
(36,642
)
Acquisitions1
 
749

Other
 
981

Balance, December 29, 2018
 
$
60,656

 
 
 
 
 
Contract Liabilities
Balance, September 29, 2018
 
$
80,131

Cumulative transition adjustment upon adoption
 
20,557

Revenue recognized included in balance at beginning of period
 
(40,511
)
Increases due to payments received, excluding amounts recognized as revenue during period
 
43,383

Acquisitions1
 
5,561

Other
 
104

Balance, December 29, 2018
 
$
109,225

1    See Note 18 for additional information regarding acquisitions.
Contract assets and contract liabilities are as follows:
 
 
December 29,
2018
 
September 29,
2018
Contract assets
 
$
60,656

 
$
70,474

Contract liabilities
 
109,225

 
80,131