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Income Taxes (Tables)

9 Months Ended

Jan. 27, 2019

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 contributed 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 for the nine months of each fiscal year:

		2019				2018
Federal income tax rate			21.0	%			30.4	%
Tax effects of the 2017 Tax Cuts and Jobs Act			(5.7	)			28.4
Foreign income tax rate differential			10.1				3.9
Global Intangible Low Taxed Income Tax (GILTI)			2.6				—
Tax effects of Chinese foreign exchange gains (losses)			1.4				(2.9	)
Excess income tax deficiency (benefits) related to stock-based compensation			0.7				(2.3	)
Other			2.4				1.1
			32.5	%			58.6	%

Summary of Valuation Allowances Against Deferred Income Taxes

Based on our assessments at January 27, 2019, January 28, 2018, and April 29, 2018, valuation allowances against our deferred income taxes pertain to the following jurisdictions:

(dollars in thousands)		January 27, 2019				January 28, 2018				April 29, 2018
U.S. foreign income tax credits		$	4,550				2,277				4,550
U.S. state loss carryforwards and credits			903				495				578
Polish loss carryforwards			—				73				76
		$	5,453				2,845				5,204

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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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