XML 49 R36.htm IDEA: XBRL DOCUMENT v3.22.2

Income Taxes (Tables)

12 Months Ended

May 28, 2022

Income Taxes [Abstract]

Schedule Of Current And Deferred Income Tax Provision For Federal, State And Foreign Income Taxes Attributable To Operations

		For the Years Ended
		May 28,			May 29,			May 30,
		2022			2021			2020
Current:
Federal		$	20,210		$	(19,790)		$	3,038
State			4,131			3,256			1,302
Foreign			2,464			1,769			1,686
			26,805			(14,765)			6,026
Deferred:
Federal			(5,838)			13,509			874
State			1,884			(1,341)			245
Foreign			(7,058)			52			(202)
			(11,012)			12,220			917
Income tax expense (benefit)		$	15,793		$	(2,545)		$	6,943

Schedule Of Income Before Provision For Income Taxes

		For the Years Ended
		May 28,			May 29,			May 30,
		2022			2021			2020
Domestic		$	68,416		$	23,598		$	36,148
Foreign			14,552			(914)			(920)
Income before income tax expense (benefit)		$	82,968		$	22,684		$	35,228

Schedule Of Effective Income Tax Rate Reconciliation

		For the Years Ended
		May 28,			May 29,			May 30,
		2022			2021			2020
Statutory tax rate		21.0	%		21.0	%		21.0	%
State taxes, net of federal benefit		5.7			9.0			3.6
Non-U.S. rate adjustments		0.7			3.1			0.9
Stock-based compensation		0.3			6.0			3.2
Valuation allowance		(6.5)			7.8			4.1
Global Intangible Low-Taxed Income, net of credits		0.3			-			0.9
Worthless stock deduction		(3.2)			-			(14.8)
Worthless debt deduction		-			-			(2.6)
FIN48		-			0.1			1.6
Permanent items		1.0			0.8			2.0
Deferred tax impact of foreign rate changes		(0.2)			(1.9)			(0.2)
Prior year true-ups		0.1			(3.8)			-
Prior year interest and penalty		-			3.1			-
Federal rate benefit on NOL carryback		(0.3)			(56.3)			-
Other, net		0.1			(0.1)			-
Effective tax rate		19.0	%		(11.2)	%		19.7	%

Schedule Of The Components Of Net Deferred Tax Asset (Liability)

		As of			As of
		May 28,			May 29,
		2022			2021 (1)
Deferred tax assets:
Allowance for doubtful accounts		$	335		$	268
Accrued compensation			5,113			4,567
Accrued expenses			1,513			2,947
Lease liability			5,482			8,025
Stock options and restricted stock			4,150			4,435
Foreign tax credit			557			557
Net operating losses			16,550			16,931
State taxes			254			210
Property and equipment			356			410
Gross deferred tax asset			34,310			38,350
Valuation allowance			(8,249)			(13,263)
Gross deferred tax asset, net of valuation allowance			26,061			25,087
Deferred tax liabilities:
ROU asset			(4,399)			(6,477)
Outside basis difference - Sweden investment			(259)			(259)
IRC Section 481(a) adjustment			(8,292)			(16,786)
Goodwill and intangibles			(19,273)			(18,256)
Net deferred tax liability		$	(6,162)		$	(16,691)

(1) Prior year amounts have been reclassified and presented separately for the impact from lease liability and ROU asset to be comparable with the current year presentation. There is no change in the resulting net deferred tax liability as reported in the prior year.

Summary Of Net Operating Loss Expiration Periods

Expiration Periods	Amount of Net Operating Losses
Fiscal Years Ending:
2025	$	42
2026		450
2027		699
2028-2031		669
Unlimited		62,407
Total	$	64,267

Summary Of Activity In Valuation Allowance

								Currency
		Beginning			Charged to			Rate			Ending
		Balance			Operations			Changes			Balance
Years Ended:
May 30, 2020		$	13,190		$	(1,919)		$	(202)		$	11,069
May 29, 2021		$	11,069		$	951		$	1,243		$	13,263
May 28, 2022		$	13,263		$	(3,152)		$	(1,862)		$	8,249

Summary Of The Activity Related To Gross Unrecognized Tax Benefits

		For the Years Ended
		May 28,			May 29,
		2022			2021
Unrecognized tax benefits, beginning of year		$	872		$	848
Gross increases -tax positions in prior period			36			24
Gross increases-tax positions in current period			-			-
Unrecognized tax benefits, end of year		$	908		$	872

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI http://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32718-109319

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32840-109319

+ Details

Name:	us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32559-109319

+ Details

Name:	us-gaap_SummaryOfOperatingLossCarryforwardsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

+ Details

Name:	us-gaap_SummaryOfValuationAllowanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration