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Income Taxes (Tables)

12 Months Ended

Sep. 27, 2019

Income Tax Disclosure [Abstract]

Components of Deferred Tax Assets and Liabilities

The components of our deferred tax assets and liabilities are as follows (in thousands):

	September 27, 2019				September 28, 2018
Deferred tax assets (liabilities):
Federal and foreign net operating losses and credits	$	263,199			$	321,982
Intangible assets	9,887				(94,929		)
Property and equipment	(1,473		)		(6,293		)
Other non-current deferred tax assets	16,933				13,850
Deferred compensation	—				3,810
Deferred gain	—				6,575
Interest	7,170				—
Valuation allowance	(252,536		)		(243,112		)
Total deferred tax asset	$	43,180			$	1,883

Summary of Domestic and Foreign Income (Loss) from Continuing Operations Before Taxes

The domestic and foreign income (loss) from continuing operations before taxes were as follows (in thousands):

	Fiscal Years
	2019				2018				2017
United States	$	(458,617	)		$	(145,851	)		$	(111,432	)
Foreign	35,464				(9,384		)		61,927
(Loss) income from operations before income taxes	$	(423,153	)		$	(155,235	)		$	(49,505	)

Components of Provision (Benefit) for Income Taxes

The components of the (benefit) provision for income taxes are as follows (in thousands):

 

	Fiscal Years
	2019				2018				2017
Current:
Federal	$	70			$	(6,876	)		$	100
State	36				(160		)		225
Foreign	876				1,642				7,307
Current provision (benefit)	982				(5,394		)		7,632
Deferred:
Federal	(21,560		)		75,428				(42,637		)
State	12,907				(15,526		)		(4,037		)
Foreign	(41,108		)		(24,652		)		(466		)
Change in valuation allowance	9,424				(51,329		)		140,419
Deferred (benefit) provision	(40,337		)		(16,079		)		93,279
Total (benefit) provision	$	(39,355	)		$	(21,473	)		$	100,911

Reconciliation of Effective Tax Rates

Our effective tax rates differ from the federal and statutory rate as follows:

 

	Fiscal Years
	2019		2018		2017
Federal statutory rate	21.0%		24.5%		35.0%
Foreign rate differential	1.6		5.1		31.9
State taxes net of federal benefit	0.9		0.8		0.2
Warrant liabilities	—		4.4		(1.8)
Change in valuation allowance	(2.4)		34.0		(270.0)
Research and development credits	1.4		9.0		12.8
Provision to return adjustments	0.3		8.3		(4.0)
Section 382 adjustment	(19.3)		—		—
Nondeductible compensation expense	(0.6)		1.4		(4.1)
Global Intangible Low Taxed Income	(2.9)		—		—
Nondeductible legal fees	—		0.9		(3.9)
2017 tax reform	—		(73.7)		—
Intra-entity license transfer	9.4		—		—
Other permanent differences	(0.1)		(0.9)		0.1
Effective income tax rate	9.3%		13.8%		(203.8)%

Activity Related to Unrecognized Tax Benefits

Activity related to unrecognized tax benefits is as follows (in thousands):

	Amount
Balance - September 29, 2017	(1,670		)
Additions based on tax positions	—
Reductions based on tax positions	1,370
Balance - September 28, 2018	$	(300	)
Additions based on tax positions	—
Reductions based on tax positions	—
Balance at September 27, 2019	$	(300	)

Summary of Fiscal Tax Years Examination by Jurisdictions

A summary of the fiscal tax years that remain subject to examination, as of September 27, 2019, for the Company’s significant tax jurisdictions are:

Jurisdiction	Tax Years Subject to Examination
United States—federal	2015 - forward
United States—various states	2015 - forward
Ireland	2016 - forward

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