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Income Taxes (Tables) | 3 Months Ended
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Aug. 04, 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 principal differences between income tax expense at the U.S. federal income tax rate and the effective income tax rate reflected in the consolidated financial statements:
|  | 2020 |  |  | 2019 |
U.S. federal income tax rate |  |  | 21.0 | % |  |  | 21.0 | %
Global Intangible Low Taxed Income Tax (GILTI) |  |  | 23.7 |  |  |  | 2.5 |
Foreign income tax rate differential |  |  | 10.6 |  |  |  | 8.3 |
Tax effects of Chinese foreign exchange gains |  |  | 1.3 |  |  |  | 2.1 |
Change in estimate of U.S. valuation allowance |  |  | 1.8 |  |  |  | 8.6 |
Excess income tax deficiency related to stock-based compensation |  |  | 0.8 |  |  |  | 1.7 |
Other |  |  | (0.1 | ) |  |  | 2.3 |
|  |  | 59.1 | % |  |  | 46.5 | %
Summary of Valuation Allowances Against Deferred Income Taxes | Based on our assessments at August 4, 2019, July 29, 2018, and April 28, 2019, valuation allowances against our deferred income taxes pertain to the following jurisdictions:
|  | August 4, |  |  | July 29, |  |  | April 28, |
(dollars in thousands) |  | 2019 |  |  | 2018 |  |  | 2019 |
U.S. state loss carryforwards and credits |  | $ | 711 |  |  |  | 849 |  |  |  | 666 |
U.S. foreign income tax credits |  |  | — |  |  |  | 4,550 |  |  |  | 82 |
|  | $ | 711 |  |  |  | 5,399 |  |  |  | 748 |

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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 + Details
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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 + Details
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