XML 28 R16.htm IDEA: XBRL DOCUMENT v3.25.0.1
Income Taxes
 9 Months Ended
Jan. 25, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Our effective tax rates for the three and nine months ended January 25, 2025 were 3.7 percent and 109.2 percent, respectively. Income before tax includes the tax impacts of the Convertible Note fair value adjustment, which is not deductible, in proportion to the period's decrease in pre-tax income. The effective tax rate for the three and nine months ended January 27, 2024 were 15.0 percent and 31.5 percent, respectively, and were driven by the decrease in the fair value adjustment to expense.
We operate both domestically and internationally and, as of January 25, 2025, the undistributed earnings of our foreign subsidiaries were considered to be reinvested indefinitely. Additionally, as of January 25, 2025, we had $440 of unrecognized tax benefits which would reduce our effective tax rate if recognized.