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Income Taxes (Tables)

6 Months Ended

Oct. 28, 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	%
Foreign income tax rate differential			7.8				1.1
Tax effects of Chinese foreign exchange (losses) gains			2.8				(1.5	)
Global Intangible Low Taxed Income Tax (GILTI)			2.1				—
Change in estimate of valuation allowance			1.2				0.7
Excess income tax deficiency (benefits) related to stock-based compensation			0.5				(4.3	)
Other			(0.3	)			(0.9	)
			35.1	%			29.1	%

Summary of Valuation Allowances Against Deferred Income Taxes

Based on our assessments at October 28, 2018, October 29, 2017, and April 29, 2018, valuation allowances against our deferred income taxes pertain to the following jurisdictions:

(dollars in thousands)		October 28, 2018				October 29, 2017				April 29, 2018
U.S. foreign income tax credits		$	4,550				—				4,550
U.S. state loss carryforwards and credits			756				554				578
Polish loss carryforwards			—				78				76
		$	5,306				632				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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