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Income Taxes (Tables)

3 Months Ended

Jul. 29, 2018

Income Tax Disclosure [Abstract]

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

The following schedule summarizes the factors that contribute to the difference between income tax expense at the federal income tax rate and the effective income tax rate reflected in the consolidated financial statements:

		2019				2018
Federal income tax rate			21.0	%			34.0	%
Change in estimate of U.S. valuation allowance			8.6				1.4
Foreign income tax rate differential			8.3				(1.3	)
Global Intangible Low Taxed Income Tax (GILTI)			2.5				—
Tax effects of Chinese foreign exchange (losses) gains			2.1				(0.9	)
Excess income tax deficiency (benefits) related to stock-based compensation			1.7				(8.2	)
Other			2.3				(0.7	)
			46.5	%			24.3	%

Summary of Valuation Allowances Against Deferred Income Taxes

Based on our assessments at July 29, 2018, July 30, 2017, and April 29, 2018, valuation allowances against our deferred income taxes pertain to the following jurisdictions:

		July 29,				July 30,				April 29,
(dollars in thousands)		2018				2017				2018
U.S. foreign income tax credits		$	4,550				—				4,550
U.S. state loss carryforwards and credits			849				559				578
Polish loss carryforwards			—				78				76
		$	5,399				637				5,204

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- References

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- 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=84230637&loc=d3e32687-109319

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- 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=84230637&loc=d3e32537-109319

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