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INCOME TAXES (Tables)

12 Months Ended

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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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.

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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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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.

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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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