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INCOME TAXES (Tables)

12 Months Ended

Oct. 03, 2020

Income Tax Disclosure [Abstract]

Income from continuing operations by location, the provision (benefit) for income taxes and the effective tax rate

The following table reflects U.S and foreign income before income taxes for fiscal 2020, 2019, and 2018:

			Fiscal
(in thousands)			2020						2019						2018
United States			$	(14,909)					$	(14,125)					$	25,211
Foreign			79,243						48,812						152,338
Income before income taxes			$	64,334					$	34,687					$	177,549

Provision (benefit) for income taxes from continuing operations

The following table reflects the current and deferred components of provision for (benefit from) income taxes for fiscal 2020, 2019, and 2018:

			Fiscal
(in thousands)			2020						2019						2018
Current:
Federal			$	5,129					$	6,580					$	83,159
State			89						214						58
Foreign			6,508						6,384						16,980
Deferred:
Federal			(690)						2,959						23,346
State			—						—						(2)
Foreign			962						6,773						(2,797)
Provision for (benefit from) income taxes			$	11,998					$	22,910					$	120,744

Effective income tax rate reconciliation

The following table reconciles the provision for (benefit from) income taxes with the expected income tax provision computed based on the applicable U.S. federal statutory tax rate for fiscal 2020, 2019, and 2018:

			Fiscal
(dollar amounts in thousands)			2020						2019						2018
Expected income provision based on the U.S. federal statutory tax rate			$	13,510					$	7,284					$	43,568
Effect of earnings of foreign subsidiaries subject to different tax rates			(1,634)						(4,335)						(12,947)
Benefit from tax incentives			(6,781)						(5,084)						(20,429)
Benefit from research and development tax credits			(2,915)						(3,041)						(2,785)
Benefit from foreign tax credits			(1,701)						(22,744)						(3,939)
U.S. one-time transition tax			—						9,369						101,854
Remeasurement of deferred taxes			(145)						5,480						2,760
Valuation allowance			1,224						25,289						7,366
Foreign operations (withholding taxes, taxes on unrepatriated foreign earnings, and deemed income)			8,886						8,578						5,746
Unrecognized tax benefit			285						156						530
Non-deductible items			1,232						2,248						(758)
Other, net			37						(290)						(222)
Provision for (benefit from) income taxes			$	11,998					$	22,910					$	120,744
Effective tax rate			18.6		%				66.0		%				68.0		%

Net deferred tax balance

The following table reflects deferred tax balances based on the tax effects of cumulative temporary differences for fiscal 2020 and 2019:

			Fiscal
(in thousands)			2020						2019
Accruals and reserves			$	7,631					$	5,514
Tax credit carryforwards			24,861						23,448
Net operating loss carryforwards			37,921						36,050
Gross deferred tax assets			$	70,413					$	65,012
Valuation allowance			$	(65,298)					$	(58,411)
Deferred tax assets, net of valuation allowance			$	5,115					$	6,601
Taxes on undistributed foreign earnings			$	(25,676)					$	(24,542)
Fixed and intangible assets			(4,297)						(7,704)
Deferred tax liabilities			$	(29,973)					$	(32,246)
Net deferred tax liabilities			$	(24,858)					$	(25,645)
Reported as
Deferred tax assets			$	8,147					$	6,409
Deferred tax liabilities			(33,005)						(32,054)
Net deferred tax liabilities			$	(24,858)					$	(25,645)

Unrecognized tax benefits

The following table reconciles the beginning and ending balances of the Company's unrecognized tax benefit, excluding related accrued interest and penalties, for fiscal 2020, 2019, and 2018:

						Fiscal
(in thousands)						2020						2019						2018
Unrecognized tax benefit, beginning of year						$	12,925					$	13,038					$	12,062
Additions for tax positions, current year						537						410						1,482
Reductions for tax positions, prior year						(398)						(523)						(506)
Unrecognized tax benefit, end of year						$	13,064					$	12,925					$	13,038

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