Revenue from Contracts with Customers (Tables)

12 Months Ended

Sep. 28, 2019

Revenue from Contract with Customer [Abstract]

Schedule of Impacts of Adoption of New Accounting Pronouncement

As a result of the adoption of Topic 606, the following adjustments were made to the opening balances of the Company's 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

The effects of the adoption on the Company's Consolidated Financial Statements for the fiscal year ended September 28, 2019 was as follows (in thousands):

	Fiscal Year Ended
	September 28, 2019 As Reported		Adjustments due to Topic 606		September 28, 2019 As Adjusted - Without Adoption of Topic 606
Net sales	$	3,164,434	$	14,880	$	3,149,554
Cost of sales	2,872,596		12,934		2,859,662
Gross profit	291,838		1,946		289,892
Operating income	142,055		1,946		140,109
Income before income taxes	125,955		1,946		124,009
Income tax expense	17,339		440		16,899
Net income	$	108,616	$	1,506	$	107,110

	September 28, 2019 As Reported		Adjustments due to Topic 606			September 28, 2019 As Adjusted - Without Adoption of Topic 606
ASSETS
Contract assets	$	90,841	$	90,841		$	—
Inventories	700,938		(81,895		)	782,833
LIABILITIES AND SHAREHOLDERS' EQUITY
Other accrued liabilities	$	106,461	$	(375	)	$	106,836
Retained earnings	1,178,677		9,321			1,169,356

Schedule of Disaggregation of Revenue

The table below includes the Company’s revenue for the fiscal year ended September 28, 2019 disaggregated by geographic reportable segment and market sector (in thousands):

	Fiscal Year Ended September 28, 2019
	Reportable Segment:
	AMER		APAC		EMEA		Total
Market Sector:
Healthcare/Life Sciences	$	488,851	$	602,922	$	128,225	$	1,219,998
Industrial/Commercial	359,381		534,971		86,868		981,220
Aerospace/Defense	317,558		186,486		84,556		588,600
Communications	256,523		113,329		4,764		374,616
External revenue	1,422,313		1,437,708		304,413		3,164,434
Inter-segment sales	6,995		119,497		5,520		132,012
Segment revenue	$	1,429,308	$	1,557,205	$	309,933	$	3,296,446

Schedule of Contract Assets

The following table summarizes the activity in the Company's contract assets during the fiscal year ended September 28, 2019 (in thousands):

	Contract Assets
Beginning balance, September 29, 2018	$	—
Cumulative effect adjustment at September 29, 2018	76,417
Revenue recognized	2,859,182
Amounts collected or invoiced	(2,844,758		)
Ending balance, September 28, 2019	$	90,841