Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 28, 2025	Jun. 29, 2024
CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES:
Net income before noncontrolling interest	$ 214,287	$ 170,411
Adjustments to reconcile net income before noncontrolling interest to cash provided by (used in) operating activities:
Depreciation	89,813	90,764
Stock-based compensation expense	47,163	41,918
Deferred income taxes	6,990	14,614
Other, net	(5,242)	(5)
Changes in operating assets and liabilities:
Accounts receivable	(43,171)	77,508
Contract assets	(27,630)	30,952
Inventories	(144,798)	93,676
Prepaid expenses and other assets	2,874	(9,074)
Accounts payable	(27,580)	(175,607)
Deferred revenue and customer advances	309,591	18,045
Accrued liabilities and other	(719)	(64,861)
Cash provided by operating activities	421,578	288,341
CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(84,890)	(88,228)
Purchases of investments	14,700	1,900
Proceeds from sale of investments	49,309	0
Proceeds from sale of property, plant and equipment	4,718	1,629
Cash used in investing activities	(45,563)	(88,499)
CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES:
Repayments of borrowings	(13,125)	(21,570)
Proceeds from revolving credit facility borrowings	512,700	1,932,400
Repayments of revolving credit facility borrowings	(512,700)	(1,932,400)
Net proceeds from stock issuances	0	959
Repurchases of common stock	(113,944)	(163,025)
Payments for tax withholding on stock-based compensation	(38,547)	(25,659)
Cash used in financing activities	(165,616)	(209,295)
Effect of exchange rate changes	1,461	(408)
Increase (decrease) in cash, cash equivalents and restricted cash equivalents	211,860	(9,861)
Cash, cash equivalents and restricted cash equivalents at beginning of period	625,860	667,570
Cash, cash equivalents and restricted cash equivalents at end of period	837,720	657,709
Cash paid during the period for:
Interest, net of capitalized interest	12,678	21,987
Income taxes, net of refunds	67,426	52,728
Unpaid purchases of property, plant and equipment at the end of period	$ 34,805	$ 23,935

SANMINA CORP 10-Q