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Income Taxes (Tables)

12 Months Ended

Oct. 02, 2021

Income Tax Disclosure [Abstract]

Schedule of Domestic and Foreign Components of Income (Loss) Before Income Taxes

The domestic and foreign components of income (loss) before income tax expense for fiscal 2021, 2020 and 2019 were as follows (in thousands): 

						2021						2020						2019
U.S. (1)						$	(33,409)					$	(69,102)					$	(42,806)
Foreign (1)						193,820						204,499						168,761
						$	160,411					$	135,397					$	125,955

(1) The U.S. and Foreign components of income (loss) before income tax expense include the elimination of intercompany foreign dividends paid to the Company's U.S. operations.

Schedule of Income Tax Expense (Benefit)

Income tax expense (benefit) for fiscal 2021, 2020 and 2019 were as follows (in thousands): 

						2021						2020						2019
Current:
Federal						$	9,217					$	8,779					$	15,160
State						524						23						—
Foreign						15,146						12,699						11,943
						24,887						21,501						27,103
Deferred:
Federal						(1,153)						(6,498)						(3,498)
State						1						3						827
Foreign						(2,236)						2,912						(7,093)
						(3,388)						(3,583)						(9,764)
						$	21,499					$	17,918					$	17,339

Schedule of Reconciliation of Federal Statutory Income Tax Rate to Effective Income Tax Rates

The following is a reconciliation of the federal statutory income tax rate to the effective income tax rates reflected in the Consolidated Statements of Comprehensive Income for fiscal 2021, 2020 and 2019: 

						2021						2020						2019
Federal statutory income tax rate						21.0		%				21.0		%				21.0		%
(Decrease) increase resulting from:
Foreign tax rate differences						(20.3)						(24.0)						(21.0)
Withholding tax on dividends						2.9						1.9						(5.4)
Permanent differences						(0.6)						(2.6)						(1.3)
Excess tax benefits related to share-based compensation						(0.9)						(3.0)						(1.3)
Global intangible low-taxed income ("GILTI")						6.4						13.8						11.7
Audit settlements						5.0						—						—
Non-deductible compensation						3.8						2.2						1.5
Valuation allowances						(3.7)						3.6						1.5
Deemed repatriation tax						—						—						5.6
Other, net						(0.2)						0.3						1.5
Effective income tax rate						13.4		%				13.2		%				13.8		%

Schedule of Components of Net Deferred Income Tax Assets (Liabilities)

The components of the net deferred income tax assets as of October 2, 2021 and October 3, 2020, were as follows (in thousands):

						2021						2020
Deferred income tax assets:
Loss/credit carryforwards						$	28,234					$	31,854
Inventories						15,231						14,450
Accrued employee benefits						14,488						14,833
Accrued liabilities						6,410						7,015
Lease obligation						18,977						17,854
Other						6,719						5,434
Total gross deferred income tax assets						90,059						91,440
Less valuation allowances						(30,321)						(34,948)
Deferred income tax assets						59,738						56,492
Deferred income tax liabilities:
Property, plant and equipment						19,055						20,923
Right-of-use asset						12,279						11,213
Tax on unremitted earnings						4,654						5,339
Acceleration of revenue under Topic 606						2,042						4,028
Deferred income tax liabilities						38,030						41,503
Net deferred income tax assets/(liabilities)						$	21,708					$	14,989

Schedule of Reconciliation of Beginning And Ending Amounts of Unrecognized Income Tax Benefits

The following is a reconciliation of the beginning and ending amounts of unrecognized income tax benefits for the indicated fiscal years (in thousands):

						2021						2020						2019
Balance at beginning of fiscal year						$	2,096					$	2,270					$	5,841
Gross increases for tax positions of prior years						623						509						62
Gross increases for tax positions of the current year						2,161						465						39
Gross decreases for tax positions of prior years						(245)						(1,148)						(3,672)
Balance at end of fiscal year						$	4,635					$	2,096					$	2,270

Schedule of Years That Remain Subject to Examination by Major Tax Jurisdictions

The Company files income tax returns, including returns for its subsidiaries, with federal, state, local and foreign taxing jurisdictions. The following tax years remain subject to examination by the respective major tax jurisdictions:

Jurisdiction						Fiscal Years
China						2016-2021
Germany						2019-2021
Malaysia						2017-2021
Mexico						2016-2021
Romania						2014-2021
United Kingdom						2018-2021
United States
Federal						2015, 2017-2021
State						2003-2006, 2009-2021

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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.

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