XML 55 R37.htm IDEA: XBRL DOCUMENT v3.7.0.1

INCOME TAXES (Tables)

12 Months Ended

Apr. 30, 2017

Income Tax Disclosure [Abstract]

Schedule of Allocation of Income Tax Expense

Total income tax expense was allocated as follows:

(dollars in thousands)			2017			2016				2015
income from operations		$	7,339				10,963				7,885
shareholders’ equity, related to the tax benefit arising from stock based compensation			(657	)			(841	)			(109	)
		$	6,682				10,122				7,776

Schedule of Income Tax Expense Attributable to Income from Operations

Income tax expense attributable to income from operations consists of:

(dollars in thousands)		2017				2016				2015
current
federal		$	109				-				-
state			13				6				(7	)
foreign			5,981				6,765				4,713
foreign – reversal of uncertain tax position			(3,431	)			-				-
			2,672				6,771				4,706
deferred
federal			404				(1,205	)			(849	)
state			54				305				(52	)
undistributed earnings – foreign subsidiaries			(101	)			(1,129	)			(260	)
U.S. operating loss carryforwards			3,630				5,467				4,487
foreign			734				1,086				(92	)
valuation allowance			(54	)			(332	)			(55	)
			4,667				4,192				3,179
		$	7,339				10,963				7,885

Schedule of Income (Loss) before Income Taxes Related to Foreign and U.S. Operations

Income (loss) before income taxes related to our foreign and U.S. operations consists of:

(dollars in thousands)		2017				2016				2015
Foreign:
China		$	13,650				14,130				12,531
Canada			4,918				3,647				2,695
Poland			(19	)			(62	)			(260	)
Cayman Islands			154				-				-
Total Foreign			18,703				17,715				14,966
United States			10,993				10,183				7,990
		$	29,696				27,898				22,956

Summary of Differences in Income Tax Expense at Federal Income Tax Rate and Effective Income Tax Rate

The following schedule summarizes the principal differences between the income tax expense at the federal income tax rate and the effective income tax rate reflected in the consolidated financial statements:

		2017				2016				2015
federal income tax rate			34.0	%			34.0	%			34.0	%
tax effects of Chinese foreign exchange gains			1.6				4.4				0.3
change in valuation allowance			(0.2	)			(1.2	)			(0.2	)
change in North Carolina income tax rates			-				0.7				-
reversal of foreign uncertain income tax position			(11.6	)			-				-
other			0.9				1.4				0.2
			24.7	%			39.3	%			34.3	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities consist of the following:

(dollars in thousands)		2017				2016
deferred tax assets:
accounts receivable		$	447				545
inventories			2,196				2,660
compensation			6,222				5,311
liabilities and other			890				1,173
foreign income tax credits - U.S.			1,436				1,436
alternative minimum tax credit - U.S.			1,428				1,320
property, plant and equipment (1)			245				326
loss carryforwards – U.S.			3,842				6,888
loss carryforwards – foreign			73				147
unrecognized tax benefits – U.S.			(3,842	)			(6,888	)
valuation allowances			(536	)			(590	)
total deferred tax assets			12,401				12,328

deferred tax liabilities:
undistributed earnings on foreign subsidiaries			(497	)			(604	)
unrecognized tax benefits – U.S.			(7,936	)			(4,168	)
property, plant and equipment (2)			(5,546	)			(5,210	)
goodwill			(1,478	)			(1,325	)
other			(118	)			(185	)
total deferred tax liabilities			(15,575	)			(11,492	)
Net deferred tax (liability) asset		$	(3,174	)			836

(1)  Pertains to the company’s operations located in China.

(2)  Pertains to the company’s operations located in the U.S. and Canada.

Schedule of Unrecognized Tax Benefit

The following table sets forth the change in the company’s unrecognized tax benefit:

(dollars in thousands)		2017				2016				2015
beginning balance		$	14,897				14,141				13,740
increases from prior period tax positions			854				454				588
decreases from prior period tax positions			(3,506	)**			(77	)			(187	)
increases from current period tax positions			-				379				-
ending balance		$	12,245				14,897				14,141

** Amount includes a reduction to unrecognized tax benefits of $3,431 resulting from a lapse of the applicable statute of limitations.

X

- Definition

Tabular disclosure of the allocation of income tax expenses or benefits.

+ References

No definition available.

+ Details

Name:	cfi_ScheduleOfAllocationOfIncomeTaxesTableTextBlock
Namespace Prefix:	cfi_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

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

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 55
-Paragraph 217
-URI http://asc.fasb.org/extlink&oid=75116239&loc=d3e36027-109320

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI http://asc.fasb.org/extlink&oid=65882285&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration