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INCOME TAXES (Tables) | 12 Months Ended
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Apr. 03, 2021
Income Tax Disclosure [Abstract] |
Schedule Domestic and Foreign Income Before Provision for Income Tax | Domestic and foreign income before (benefit) provision for income tax is as follows:
(In thousands) | 2021 |  | 2020 |  | 2019
Domestic | $ | 5,526 |  |  | $ | 5,344 |  |  | $ | 26,665 |
Foreign | 67,387 |  |  | 81,808 |  |  | 46,968 |
Total | $ | 72,913 |  |  | $ | 87,152 |  |  | $ | 73,633 |
Schedule of Income Tax Provision Components | The income tax (benefit) provision from continuing operations contains the following components:
(In thousands) | 2021 |  | 2020 |  | 2019
Current |  |  |  |  |
Federal | $ | (289) |  |  | $ | 3,834 |  |  | $ | (4,165) |
State | 1,256 |  |  | 1,054 |  |  | 844 |
Foreign | 13,319 |  |  | 12,467 |  |  | 8,584 |
Total current | $ | 14,286 |  |  | $ | 17,355 |  |  | $ | 5,263 |
Deferred |  |  |  |  |
Federal | (12,906) |  |  | (8,257) |  |  | 12,220 |
State | (2,436) |  |  | 280 |  |  | 463 |
Foreign | (5,500) |  |  | 1,248 |  |  | 668 |
Total deferred | $ | (20,842) |  |  | $ | (6,729) |  |  | $ | 13,351 |
Total | $ | (6,556) |  |  | $ | 10,626 |  |  | $ | 18,614 |
Schedule of Net Deferred Tax Asset | Tax effected, significant temporary differences comprising the net deferred tax liability are as follows:
(In thousands) | April 3, 2021 |  | March 28, 2020
Deferred tax assets: |  |  |
Depreciation | $ | 1,054 |  |  | $ | 1,922 |
Amortization of intangibles | 1,167 |  |  | 1,156 |
Inventory | 5,166 |  |  | 2,904 |
Accruals, reserves and other deferred tax assets | 17,274 |  |  | 17,345 |
Net operating loss carry-forward | 38,827 |  |  | 4,953 |
Stock based compensation | 4,374 |  |  | 3,634 |
Operating lease liabilities | 16,941 |  |  | 14,115 |
Tax credit carry-forward, net | 5,073 |  |  | 5,159 |
Capitalized research expenses | 4,291 |  |  | 3,820 |
Gross deferred tax assets | 94,167 |  |  | 55,008 |
Less valuation allowance | (11,081) |  |  | (14,587) |
Total deferred tax assets (after valuation allowance) | 83,086 |  |  | 40,421 |
Deferred tax liabilities: |  |  |
Depreciation | (10,470) |  |  | (15,840) |
Amortization of goodwill and intangibles | (68,802) |  |  | (15,450) |
Unremitted earnings | (1,060) |  |  | (654) |
Operating lease assets | (14,722) |  |  | (12,743) |
Debt discount | (19,868) |  |  | — |
Other deferred tax liabilities | (5,980) |  |  | (2,366) |
Total deferred tax liabilities | (120,902) |  |  | (47,053) |
Net deferred tax liabilities | $ | (37,816) |  |  | $ | (6,632) |
Schedule of Effective Income Tax Rate Reconciliation |
(In thousands) | 2021 |  | 2020 |  | 2019
Tax at federal statutory rate | $ | 15,312 |  |  | 21.0 | % |  | $ | 18,302 |  |  | 21.0 | % |  | $ | 15,463 |  |  | 21.0 | %
Difference between U.S. and foreign tax | (7,049) |  |  | (9.7) | % |  | (6,688) |  |  | (7.7) | % |  | (1,423) |  |  | (1.9) | %
State income taxes net of federal benefit | (924) |  |  | (1.3) | % |  | (342) |  |  | (0.4) | % |  | 902 |  |  | 1.2 | %
Change in uncertain tax positions | 1,172 |  |  | 1.6 | % |  | 785 |  |  | 0.9 | % |  | 267 |  |  | 0.4 | %
Global intangible low taxed income | (758) |  |  | (1.0) | % |  | 5,431 |  |  | 6.2 | % |  | 5,954 |  |  | 8.1 | %
Unremitted earnings | 257 |  |  | 0.4 | % |  | 40 |  |  | — | % |  | 527 |  |  | 0.7 | %
Deferred statutory rate changes | (243) |  |  | (0.3) | % |  | 1,091 |  |  | 1.3 | % |  | 1,183 |  |  | 1.6 | %
Non-deductible executive compensation | 2,238 |  |  | 3.1 | % |  | 2,423 |  |  | 2.8 | % |  | 1,588 |  |  | 2.2 | %
Non-deductible other | 2,038 |  |  | 2.8 | % |  | 1,050 |  |  | 1.2 | % |  | 462 |  |  | 0.6 | %
Stock compensation benefits | (5,504) |  |  | (7.5) | % |  | (12,133) |  |  | (13.9) | % |  | (5,382) |  |  | (7.3) | %
Research credits | (1,230) |  |  | (1.7) | % |  | (2,085) |  |  | (2.4) | % |  | (768) |  |  | (1.0) | %
Intercompany sale of intellectual property | (7,550) |  |  | (10.4) | % |  | — |  |  | — | % |  | — |  |  | — | %
One-time transition tax from tax reform | — |  |  | — | % |  | — |  |  | — | % |  | 26 |  |  | — | %
Valuation allowance | (3,144) |  |  | (4.4) | % |  | 2,939 |  |  | 3.4 | % |  | (184) |  |  | (0.3) | %
Other, net | (1,171) |  |  | (1.6) | % |  | (187) |  |  | (0.2) | % |  | (1) |  |  | — | %
Income tax (benefit) provision | $ | (6,556) |  |  | (9.0) | % |  | $ | 10,626 |  |  | 12.2 | % |  | $ | 18,614 |  |  | 25.3 | %
Summary of Gross Unrecognized Tax Benefits | The following table summarizes the activity related to its gross unrecognized tax benefits for the fiscal years ended April 3, 2021, March 28, 2020 and March 30, 2019:
(In thousands) | April 3, 2021 |  | March 28, 2020 |  | March 30, 2019
Beginning Balance | $ | 4,620 |  |  | $ | 4,657 |  |  | $ | 4,450 |
Additions for tax positions of current year | 335 |  |  | 180 |  |  | 282 |
Additions for tax positions of prior years | 1,194 |  |  | 880 |  |  | — |
Reductions of tax positions | (42) |  |  | (539) |  |  | (52) |
Settlements of tax positions | — |  |  | (558) |  |  | — |
Closure of statute of limitations | — |  |  | — |  |  | (23) |
Ending Balance | $ | 6,107 |  |  | $ | 4,620 |  |  | $ | 4,657 |

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