XML 67 R39.htm IDEA: XBRL DOCUMENT v3.19.1

Income Taxes (Tables)

12 Months Ended

Mar. 30, 2019

Income Tax Disclosure [Abstract]

Schedule of Pretax Income

Pretax (loss) income for the fiscal years ended March 30, 2019, March 31, 2018, and April 1, 2017 was attributable to the following tax jurisdictions:

		Year Ended
(Dollars in thousands)		March 30, 2019				March 31, 2018				April 1, 2017
Domestic		$	(50,891	)		$	32,470			$	19,200
Foreign			9,588				10,646				8,806
(Loss) income before income taxes		$	(41,303	)		$	43,116			$	28,006

Schedule of Income Tax Provision by Jurisdiction

The income tax provision by jurisdiction for the fiscal years ended March 30, 2019, March 31, 2018, and April 1, 2017 was as follows:

		Year Ended
(Dollars in thousands)		March 30, 2019				March 31, 2018				April 1, 2017
Current:
U.S. federal		$	9,353			$	10,033			$	—
Foreign			1,452				2,269				2,702
State			3,053				2,100				684
Total current		$	13,858			$	14,402			$	3,386
Deferred
U.S. federal		$	1,854			$	9,694			$	(24,492	)
Foreign			987				3,640				373
State			206				(420	)			(2,588	)
Total deferred		$	3,047			$	12,914			$	(26,707	)
Total income tax expense (benefit)		$	16,905			$	27,316			$	(23,321	)

Schedule of Income Tax Expense (Benefit)

Income tax expense (benefit) differs from the amount of income tax determined by applying the applicable U.S. statutory federal income tax rate to income before income taxes as a result of the following differences:

		Year Ended
(Dollars in thousands)		March 30, 2019				March 31, 2018				April 1, 2017
Tax (benefit) expense at U.S. federal statutory rate		$	(8,674	)		$	13,599			$	9,802
Increase (decrease) in rate resulting from:
Non-deductible share-based compensation			17,545				203				213
Non-deductible compensation due to Section 162(m)			2,760				—				—
State taxes, net of U.S. federal benefit			2,412				1,083				445
Transaction costs related to the Exchange			2,051				—				—
Deferred tax rate changes			928				9,115				87
Foreign tax rate differences			579				(413	)			(722	)
Other permanent difference			531				617				1,023
Global intangible low-taxed income ("GILTI")			524				—				—
Recognition of foreign investment basis difference			247				12,199				—
Domestic Production Activities Deduction			—				(970	)			—
Net utilization of U.S. tax credits			(445	)			(75	)			—
Change in uncertain tax positions			(590	)			23				679
Change in deferred tax valuation allowance			(986	)			(8,632	)			(35,470	)
Other			23				567				622
Total income tax expense (benefit)		$	16,905			$	27,316			$	(23,321	)

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities at March 30, 2019 and March 31, 2018 consisted of the following:

(Dollars in thousands)		March 30, 2019				March 31, 2018
ASSETS
U.S. federal net operating loss carryforwards		$	14,213			$	—
Intangible assets			11,110				12,032
Employee compensation			6,326				3,781
Warranty reserves			5,792				3,887
Foreign tax basis difference in investments			4,601				5,608
Self-insurance reserves			4,491				3,223
State net operating loss carryforwards			4,239				344
Inventory reserves and impairments			3,793				3,549
U.S. tax credit carryforwards			2,131				—
Dealer volume discounts			1,409				1,551
Stock Compensation			929				—
Capitalized transaction costs			534				1,935
Foreign net operating loss carryforwards			499				592
Foreign capital loss carryforwards			186				—
Foreign currency translation adjustments			9				—
Property, plant and equipment			—				616
Other			648				735
Gross deferred tax assets		$	60,910			$	37,853
LIABILITIES
Intangible assets		$	11,997			$	237
Property, plant and equipment			7,265				389
Foreign tax basis difference in investments			3,422				3,294
Other			297				584
Gross deferred tax liabilities		$	22,981			$	4,504
Valuation allowance			(7,293	)			(6,353	)
Net deferred tax assets		$	30,636			$	26,996

Schedule of Changes in Unrecognized Tax Benefits

The following table provides the changes in unrecognized tax benefits at March 30, 2019 and March 31, 2018:

(Dollars in thousands)		March 30, 2019				March 31, 2018
Unrecognized tax benefits, beginning of period		$	1,246			$	1,261
Increase related to tax positions taken during a prior period			44				43
Decreases related to tax positions taken during a prior period			—				(58	)
Reductions as a result of a lapse of the applicable statute of limitations			(647	)			—
Unrecognized tax benefits, end of period		$	643			$	1,246

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 55
-Paragraph 217
-URI http://asc.fasb.org/extlink&oid=109238393&loc=d3e36027-109320

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration