Revenue From Contracts with Customers (Tables)

6 Months Ended

Mar. 30, 2019

Revenue from Contract with Customer [Abstract]

Schedule of Impacts of Adoption of New Accounting Pronouncement

The effects of the adoption on the Company's Condensed Consolidated Financial Statements for the three and six months ended March 30, 2019 were as follows (in thousands):

	Three Months Ended
	March 30, 2019 As Reported		Adjustments due to Topic 606		March 30, 2019 As Adjusted - Without Adoption of Topic 606
Net sales	$	789,051	$	5,359	$	783,692
Cost of sales	718,415		4,641		713,774
Gross profit	70,636		718		69,918
Operating income	33,174		718		32,456
Income before income taxes	28,696		718		27,978
Income tax expense	3,938		224		3,714
Net income	$	24,758	$	494	$	24,264

	Six Months Ended
	March 30, 2019 As Reported		Adjustments due to Topic 606		March 30, 2019 As Adjusted - Without Adoption of Topic 606
Net sales	$	1,554,595	$	11,544	$	1,543,051
Cost of sales	1,411,576		9,835		1,401,741
Gross profit	143,019		1,709		141,310
Operating income	70,125		1,709		68,416
Income before income taxes	62,811		1,709		61,102
Income tax expense	15,827		418		15,409
Net income	$	46,984	$	1,291	$	45,693

	March 30, 2019 As Reported		Adjustments due to Topic 606			March 30, 2019 As Adjusted - Without Adoption of Topic 606
ASSETS
Contract assets	$	86,803	$	86,803		$	—
Inventories	802,261		(78,766		)	881,027
LIABILITIES AND SHAREHOLDERS' EQUITY
Other accrued liabilities	$	92,989	$	(1,069	)	$	94,058
Retained earnings	1,117,045		9,106			1,107,939

As a result of the adoption of Topic 606, the following adjustments were made to the opening balances of the Company's Condensed Consolidated Balance Sheets (in thousands):

	Balance at September 29, 2018		Impacts due to adoption of Topic 606			Balance at September 30, 2018
ASSETS
Contract assets	$	—	$	76,417		$	76,417
Inventories	794,346		(68,959		)	725,387
LIABILITIES AND SHAREHOLDERS' EQUITY
Other accrued liabilities	$	68,163	$	(357	)	$	67,806
Retained earnings	1,062,246		7,815			1,070,061

Schedule of Disaggregation of Revenue

The tables below include the Company’s revenue for the three and six months ended March 30, 2019, disaggregated by geographic reportable segment and market sector (in thousands):

	Three Months Ended March 30, 2019
	Reportable Segment:
	AMER		APAC		EMEA		Total
Market Sector:
Healthcare/Life Sciences	$	125,434	$	141,655	$	32,547	$	299,636
Industrial/Commercial	94,208		131,808		24,220		250,236
Aerospace/Defense	75,854		47,752		16,904		140,510
Communications	67,681		29,984		1,004		98,669
External revenue	$	363,177	$	351,199	$	74,675	$	789,051
Inter-segment sales	1,313		27,242		1,147		29,702
Segment revenue	$	364,490	$	378,441	$	75,822	$	818,753

	Six Months Ended March 30, 2019
	Reportable Segment:
	AMER		APAC		EMEA		Total
Market Sector:
Healthcare/Life Sciences	$	241,199	$	293,761	$	65,254	$	600,214
Industrial/Commercial	177,926		248,079		43,373		469,378
Aerospace/Defense	138,227		89,846		34,902		262,975
Communications	158,145		60,959		2,924		222,028
External revenue	$	715,497	$	692,645	$	146,453	$	1,554,595
Inter-segment sales	2,860		63,908		1,667		68,435
Segment revenue	$	718,357	$	756,553	$	148,120	$	1,623,030

Schedule of Contract Assets

The following table summarizes the activity in the Company's contract assets during the six months ended March 30, 2019 (in thousands):

	Contract Assets
Beginning balance, September 29, 2018	$	—
Cumulative effect adjustment at September 29, 2018	76,417
Revenue recognized	1,393,777
Amounts collected or invoiced	(1,383,391		)
Ending balance, March 30, 2019	$	86,803