Pay vs Performance Disclosure
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12 Months Ended |
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Sep. 27, 2024
USD ($)
$ / shares
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Sep. 29, 2023
USD ($)
$ / shares
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Sep. 30, 2022
USD ($)
$ / shares
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Oct. 01, 2021
USD ($)
$ / shares
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| Pay vs Performance Disclosure |
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| Pay vs Performance Disclosure, Table |
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K under the Securities Act, we are providing the following information about the relationship between “Compensation Actually Paid” (herein referred to as “CAP”) to our CEO and our other NEOs as compared to the Company’s total shareholder return (“TSR”), the TSR of our selected peer group, our GAAP net income, and our company-selected performance measure, Adjusted EPS. As the table below demonstrates, there is a strong relationship between our financial outcomes, particularly TSR, and CAP for both our CEOs and the remaining NEOs. The Compensation Committee believes this illustrates the effectiveness of the Company’s approach. For further information concerning the Company’s performance-based approach to executive compensation and how the Company aligns executive compensation with the Company’s performance, refer to “Compensation Discussion and Analysis.” 2024 Pay vs. Performance Table
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Summary
Compensation
Table Total
for Former
CEO
(Demetriou)
(1) |
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Compensation
Actually Paid
to Former CEO
(Demetriou)
(1) (3) |
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Summary
Compensation
Table Total
for CEO
(Pragada)
(2) |
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Compensation
Actually Paid
to CEO
(Pragada)
(2) (3) |
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Average
Summary
Compensation
Table Total
for Other
NEOs
(4) |
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Average
Compensation
Actually Paid
to Other
NEOs
(3) (4) |
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Value of
Initial Fixed
$100
Investment
Based On: |
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2024 |
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N/A |
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N/A |
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$12,119,945 |
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$15,617,273 |
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$3,809,218 |
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$3,870,719 |
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$173 |
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$157 |
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$773 |
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$8.00 |
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2023 |
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$6,433,775 |
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$16,401,745 |
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$10,898,649 |
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$15,676,003 |
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$4,128,458 |
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$7,040,687 |
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$150 |
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$122 |
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$667 |
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$7.20 |
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2022 |
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$14,615,521 |
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$16,124,394 |
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N/A |
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N/A |
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$4,242,112 |
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$3,513,697 |
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$119 |
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$106 |
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$644 |
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$6.93 |
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2021 |
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$16,275,230 |
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$39,002,853 |
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N/A |
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N/A |
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$6,557,631 |
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$10,527,045 |
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$144 |
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$133 |
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$477 |
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$6.29 |
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| (1) |
Fiscal 2023 compensation for Mr. Demetriou reflects his service as Chief Executive Officer until January 24, 2023, when he became Executive Chair. |
| (2) |
Fiscal 2023 compensation for Mr. Pragada reflects his service as Chief Executive Officer starting January 24, 2023, and compensation received under his prior role as President and Chief Operating Officer (“COO”). |
| (3) |
CAP reflects the SEC methodology, with adjustments for calculating CAP from the Summary Compensation Table values provided in the table below. |
| (4) |
NEOs used for the average NEO for each fiscal year are as follows: |
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- |
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2024: Kevin Berryman, Joanne Caruso, Steven J. Demetriou, Patrick X. Hill, Claudia Jaramillo, and Venk Nathamuni |
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- |
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2023: Steve Arnette, Kevin Berryman, Joanne Caruso, Steven J. Demetriou, Patrick X. Hill, and Claudia Jaramillo |
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- |
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2022: Kevin Berryman, Joanne Caruso, Dawne S. Hickton, Patrick X. Hill, and Bob Pragada |
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- |
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2021: Kevin Berryman, Joanne Caruso, Dawne S. Hickton, and Bob Pragada. |
| (5) |
Cumulative TSR is measured as of a beginning date of October 1, 2020 (i.e., September 30, 2020 stock price is the base date for calculation); and peer group TSR reflects values for the S&P 1500 IT Consulting & Other Services Index, as disclosed in our fiscal 2024 Annual Report on Form 10-K. Both cumulative TSR and peer group TSR are calculated in the same manner as disclosed in our fiscal 2024 Annual Report on Form 10-K, in accordance with Item 201(e) of Regulation S-K. |
| (6) |
Net Income reflects GAAP net income, as disclosed in our financial statements. |
| (7) |
The Company-selected measure that we believe represents the most important financial performance measure used to link CAP for fiscal 2023 to Company performance is Adjusted EPS. Adjusted EPS is computed by dividing Adjusted Net Earnings by the weighted average number of shares of the Company’s common stock outstanding during the period. For a definition of Adjusted Net Earnings, please refer to page 48. | Adjustments to Calculate Compensation Actually Paid
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Deduct SCT
Stock &
Option
Awards |
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Add Year-End Value of Unvested Equity Granted in Year |
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Add Year- End Value of Vested Equity Granted in Year |
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Add Change
in Value of
Unvested
Awards
Granted in
Prior Years |
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Add
Change in
Value of
Vested
Equity
Granted in
Prior Years |
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Deduct
Value of
Awards
Forfeited
in Year |
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CEO (Pragada) |
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$ |
12,119,945 |
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($ |
8,625,109 |
) |
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$ |
9,791,702 |
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N/A |
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$ |
1,660,158 |
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$ |
670,577 |
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N/A |
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$ |
15,617,273 |
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Average NEO |
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$ |
3,809,218 |
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($ |
1,933,379 |
) |
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$ |
1,444,070 |
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$ |
486,904 |
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$ |
433,510 |
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($ |
79,450 |
) |
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($ |
290,154 |
) |
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$ |
3,870,719 |
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| (1) |
The fair value amounts were computed in a manner consistent with the fair value methodology used to account for share-based payments in the Company’s financial statements. |
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| Company Selected Measure Name |
Adjusted EPS
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| Named Executive Officers, Footnote |
| (4) |
NEOs used for the average NEO for each fiscal year are as follows: |
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- |
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2024: Kevin Berryman, Joanne Caruso, Steven J. Demetriou, Patrick X. Hill, Claudia Jaramillo, and Venk Nathamuni |
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- |
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2023: Steve Arnette, Kevin Berryman, Joanne Caruso, Steven J. Demetriou, Patrick X. Hill, and Claudia Jaramillo |
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- |
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2022: Kevin Berryman, Joanne Caruso, Dawne S. Hickton, Patrick X. Hill, and Bob Pragada |
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- |
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2021: Kevin Berryman, Joanne Caruso, Dawne S. Hickton, and Bob Pragada. |
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| Peer Group Issuers, Footnote |
| (5) |
Cumulative TSR is measured as of a beginning date of October 1, 2020 (i.e., September 30, 2020 stock price is the base date for calculation); and peer group TSR reflects values for the S&P 1500 IT Consulting & Other Services Index, as disclosed in our fiscal 2024 Annual Report on Form 10-K. Both cumulative TSR and peer group TSR are calculated in the same manner as disclosed in our fiscal 2024 Annual Report on Form 10-K, in accordance with Item 201(e) of Regulation S-K. |
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| Adjustment To PEO Compensation, Footnote |
Adjustments to Calculate Compensation Actually Paid
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Deduct SCT
Stock &
Option
Awards |
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Add Year-End Value of Unvested Equity Granted in Year |
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Add Year- End Value of Vested Equity Granted in Year |
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Add Change
in Value of
Unvested
Awards
Granted in
Prior Years |
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Add
Change in
Value of
Vested
Equity
Granted in
Prior Years |
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Deduct
Value of
Awards
Forfeited
in Year |
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CEO (Pragada) |
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$ |
12,119,945 |
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($ |
8,625,109 |
) |
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$ |
9,791,702 |
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N/A |
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$ |
1,660,158 |
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$ |
670,577 |
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N/A |
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$ |
15,617,273 |
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Average NEO |
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$ |
3,809,218 |
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($ |
1,933,379 |
) |
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$ |
1,444,070 |
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$ |
486,904 |
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$ |
433,510 |
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($ |
79,450 |
) |
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($ |
290,154 |
) |
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$ |
3,870,719 |
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| (1) |
The fair value amounts were computed in a manner consistent with the fair value methodology used to account for share-based payments in the Company’s financial statements. |
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| Non-PEO NEO Average Total Compensation Amount |
$ 3,809,218
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$ 4,128,458
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$ 4,242,112
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$ 6,557,631
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| Non-PEO NEO Average Compensation Actually Paid Amount |
$ 3,870,719
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7,040,687
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3,513,697
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10,527,045
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| Adjustment to Non-PEO NEO Compensation Footnote |
Adjustments to Calculate Compensation Actually Paid
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Deduct SCT
Stock &
Option
Awards |
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|
Add Year-End Value of Unvested Equity Granted in Year |
|
|
Add Year- End Value of Vested Equity Granted in Year |
|
|
Add Change
in Value of
Unvested
Awards
Granted in
Prior Years |
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Add
Change in
Value of
Vested
Equity
Granted in
Prior Years |
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Deduct
Value of
Awards
Forfeited
in Year |
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CEO (Pragada) |
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$ |
12,119,945 |
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($ |
8,625,109 |
) |
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$ |
9,791,702 |
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N/A |
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$ |
1,660,158 |
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$ |
670,577 |
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N/A |
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$ |
15,617,273 |
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Average NEO |
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$ |
3,809,218 |
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($ |
1,933,379 |
) |
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$ |
1,444,070 |
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$ |
486,904 |
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$ |
433,510 |
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($ |
79,450 |
) |
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($ |
290,154 |
) |
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$ |
3,870,719 |
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| (1) |
The fair value amounts were computed in a manner consistent with the fair value methodology used to account for share-based payments in the Company’s financial statements. |
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| Compensation Actually Paid vs. Total Shareholder Return |
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| Compensation Actually Paid vs. Net Income |
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| Compensation Actually Paid vs. Company Selected Measure |
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| Total Shareholder Return Vs Peer Group |
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| Tabular List, Table |
Unranked List of the Company’s Most Important Financial Performance Metrics The table below lists our most important performance measures used to link CAP to our NEOs to company performance over the fiscal year ending September 27, 2024. These measures are used to determine payouts for our annual and long-term incentive plans. For more information on our incentive plan measures and goals, refer to “Compensation Discussion & Analysis.” The performance measures included in this table are not ranked by relative importance.
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Most Important Financial Performance Metrics |
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Adjusted EPS |
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Adjusted Operating Profit |
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ROIC |
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Adjusted EBITDA Margin |
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DSO |
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| Total Shareholder Return Amount |
$ 173
|
150
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119
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144
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| Peer Group Total Shareholder Return Amount |
157
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122
|
106
|
133
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| Net Income (Loss) |
$ 773,000,000
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$ 667,000,000
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$ 644,000,000
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$ 477,000,000
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| Company Selected Measure Amount | $ / shares |
8
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7.2
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6.93
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6.29
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| Measure:: 1 |
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| Pay vs Performance Disclosure |
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| Name |
Adjusted EPS
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| Measure:: 2 |
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| Pay vs Performance Disclosure |
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| Name |
Adjusted Operating Profit
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| Measure:: 3 |
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| Pay vs Performance Disclosure |
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| Name |
ROIC
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| Measure:: 4 |
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| Pay vs Performance Disclosure |
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| Name |
Adjusted EBITDA Margin
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| Measure:: 5 |
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| Pay vs Performance Disclosure |
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| Name |
DSO
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| Demetriou [Member] |
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| Pay vs Performance Disclosure |
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| PEO Total Compensation Amount |
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$ 6,433,775
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$ 14,615,521
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$ 16,275,230
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| PEO Actually Paid Compensation Amount |
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16,401,745
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$ 16,124,394
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$ 39,002,853
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| PEO Name |
Demetriou
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| Pragada [Member] |
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| Pay vs Performance Disclosure |
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| PEO Total Compensation Amount |
$ 12,119,945
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10,898,649
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| PEO Actually Paid Compensation Amount |
$ 15,617,273
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$ 15,676,003
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| PEO Name |
Pragada
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| PEO | Pragada [Member] | Stock And Option Awards [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
$ (8,625,109)
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| PEO | Pragada [Member] | Value of Unvested Equity Granted in Year [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
9,791,702
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| PEO | Pragada [Member] | Value of Unvested Awards Granted in Prior Years [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
1,660,158
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| PEO | Pragada [Member] | Value of Vested Equity Granted in Prior Years [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
670,577
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| Non-PEO NEO | Stock And Option Awards [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
(1,933,379)
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| Non-PEO NEO | Value of Unvested Equity Granted in Year [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
1,444,070
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| Non-PEO NEO | Value of Vested Equity Granted in Year [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
486,904
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| Non-PEO NEO | Value of Unvested Awards Granted in Prior Years [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
433,510
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| Non-PEO NEO | Value of Vested Equity Granted in Prior Years [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
(79,450)
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| Non-PEO NEO | Value of Awards Forfeited in Year [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
$ (290,154)
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