INCOME TAXES	9 Months Ended
Jan. 26, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The provision for income taxes for an interim period is based on an estimated effective income tax rate for the full fiscal year and applies that rate to ordinary year-to-date earnings or loss. The estimated annual effective income tax rate is determined excluding the effects of unusual or significant discrete items that are reported net of the related tax effects and in the period in which they occur. In addition, any effects of enacted tax law or rate changes as well as the Company’s ability to utilize various tax assets is recognized in the period in which the change occurs. The Company recognized an income tax benefit of $3.0 million and an income tax expense of $63.4 million for the three months ended January 26, 2019 and January 27, 2018, respectively. The Company’s effective tax rate was (10.4)% and 162.1% for the three months ended January 26, 2019 and January 27, 2018, respectively. The Company recognized an income tax provision of $4.5 million and $72.6 million for the nine months ended January 26, 2019 and January 27, 2018, respectively. The Company’s effective tax rate was 6.1% and 78.1% for the nine months ended January 26, 2019 and January 27, 2018, respectively. The income tax provision for both the three and nine months ended January 26, 2019 is lower than the U.S. statutory tax rate primarily due to foreign investment tax credits, foreign operations with lower statutory rates, and a discrete tax adjustment of $7.5 million. The discrete tax adjustment is primarily related to the finalization of the transition tax associated with U.S. tax reform, foreign tax credits related to dividend repatriation, and the release of a tax reserve. The income tax provision for both the three and nine months ended January 27, 2018 is higher than the U.S. statutory tax rate primarily due to the transition tax and the impact of revaluing deferred taxes due to the change in the federal tax rate from U.S. Tax Reform. On December 22, 2017, the SEC staff issued Staff Accounting Bulletin ("SAB") 118 to provide certain guidance in determining the accounting for income tax effects of the legislation in the accounting period of enactment as well as provide a one-year measurement period to finalize the effects associated with U.S. Tax Reform. The Company recognized a provisional tax expense estimate of $56.8 million related to the deemed repatriated earnings and the revaluation of deferred taxes in its consolidated financial statements for the quarter ended January 27, 2018. Adjustments made to the provisional amounts allowed under SAB 118 were identified and recorded as described in the following paragraph. In the fourth quarter ended April 28, 2018, the Company recognized a $3.1 million discrete tax benefit for the deemed repatriated earnings and the revaluation of deferred taxes to the provisional tax impacts of the U.S. Tax Reform. In the third quarter ended January 26, 2019, the Company recognized a $4.8 million discrete tax benefit from the re-measurement of the deemed repatriated foreign earnings associated with U.S. Tax Reform. These adjustments included changes in interpretations and assumptions the Company made, additional regulatory guidance that was issued, and actions the Company took as a result of U.S. Tax Reform. Due to the enactment of U.S. Tax Reform, repatriations of foreign earnings will generally not be subject to U.S. federal income tax but may be subject to other taxes such as withholding tax or state income tax. Indefinite reinvestment is determined by management’s intentions concerning the future operations and liquidity needs of the Company. Most of these earnings have been reinvested in non-U.S. business operations. However, due to U.S. Tax Reform, substantially all prior unrepatriated foreign earnings were subject to U.S. tax. Accordingly, we expect to have the ability to repatriate those earnings without incremental U.S. federal tax cost. We have also changed our intent regarding certain cash repatriations. However, substantially all prior undistributed earnings from foreign subsidiaries are indefinitely reinvested. A determination of the potential deferred taxes related to these undistributed earnings or any other basis differences is not practicable.

INCOME TAXES

The provision for income taxes for an interim period is based on an estimated effective income tax rate for the full fiscal year and applies that rate to ordinary year-to-date earnings or loss. The estimated annual effective income tax rate is determined excluding the effects of unusual or significant discrete items that are reported net of the related tax effects and in the period in which they occur. In addition, any effects of enacted tax law or rate changes as well as the Company’s ability to utilize various tax assets is recognized in the period in which the change occurs.

The Company recognized an income tax benefit of $3.0 million and an income tax expense of $63.4 million for the three months ended January 26, 2019 and January 27, 2018, respectively. The Company’s effective tax rate was (10.4)% and 162.1% for the three months ended January 26, 2019 and January 27, 2018, respectively. The Company recognized an income tax provision of $4.5 million and $72.6 million for the nine months ended January 26, 2019 and January 27, 2018, respectively. The Company’s effective tax rate was 6.1% and 78.1% for the nine months ended January 26, 2019 and January 27, 2018, respectively.

The income tax provision for both the three and nine months ended January 26, 2019 is lower than the U.S. statutory tax rate primarily due to foreign investment tax credits, foreign operations with lower statutory rates, and a discrete tax adjustment of $7.5 million. The discrete tax adjustment is primarily related to the finalization of the transition tax associated with U.S. tax reform, foreign tax credits related to dividend repatriation, and the release of a tax reserve. The income tax provision for both the three and nine months ended January 27, 2018 is higher than the U.S. statutory tax rate primarily due to the transition tax and the impact of revaluing deferred taxes due to the change in the federal tax rate from U.S. Tax Reform.

On December 22, 2017, the SEC staff issued Staff Accounting Bulletin ("SAB") 118 to provide certain guidance in determining the accounting for income tax effects of the legislation in the accounting period of enactment as well as provide a one-year measurement period to finalize the effects associated with U.S. Tax Reform. The Company recognized a provisional tax expense estimate of $56.8 million related to the deemed repatriated earnings and the revaluation of deferred taxes in its consolidated financial statements for the quarter ended January 27, 2018. Adjustments made to the provisional amounts allowed under SAB 118 were identified and recorded as described in the following paragraph.

In the fourth quarter ended April 28, 2018, the Company recognized a $3.1 million discrete tax benefit for the deemed repatriated earnings and the revaluation of deferred taxes to the provisional tax impacts of the U.S. Tax Reform. In the third quarter ended January 26, 2019, the Company recognized a $4.8 million discrete tax benefit from the re-measurement of the deemed repatriated foreign earnings associated with U.S. Tax Reform. These adjustments included changes in interpretations and assumptions the Company made, additional regulatory guidance that was issued, and actions the Company took as a result of U.S. Tax Reform.

Due to the enactment of U.S. Tax Reform, repatriations of foreign earnings will generally not be subject to U.S. federal income tax but may be subject to other taxes such as withholding tax or state income tax. Indefinite reinvestment is determined by management’s intentions concerning the future operations and liquidity needs of the Company. Most of these earnings have been reinvested in non-U.S. business operations. However, due to U.S. Tax Reform, substantially all prior unrepatriated foreign earnings were subject to U.S. tax. Accordingly, we expect to have the ability to repatriate those earnings without incremental U.S. federal tax cost. We have also changed our intent regarding certain cash repatriations. However, substantially all prior undistributed earnings from foreign subsidiaries are indefinitely reinvested. A determination of the potential deferred taxes related to these undistributed earnings or any other basis differences is not practicable.