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Income Taxes (Tables) | 6 Months Ended
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Nov. 01, 2020
Income Tax Disclosure [Abstract] |
Schedule of Allocation of Income Tax Expense | Total income tax expense (benefit) for the six-month periods ending November 1, 2020, and November 3, 2019, were allocated as follows:
|  | November 1, |  |  | November 3, |
(dollars in thousands) |  | 2020 |  |  | 2019 |
Income from continuing operations |  | $ | 5,937 |  |  | $ | 3,971 |
Loss from discontinued operations |  |  | — |  |  |  | (392 | )
Total income tax expense |  | $ | 5,937 |  |  | $ | 3,579 |
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 from continuing operations at the U.S. federal income tax rate and the effective income tax rate from continuing operations reflected in the consolidated financial statements for the six-month periods ending November 1, 2020 and November 3, 2019:
|  | November 1, |  |  | November 3, |
|  | 2020 |  |  | 2019 |
U.S. federal income tax rate |  |  | 21.0 | % |  |  | 21.0 | %
U.S. valuation allowance |  | 141.6 |  |  |  | — |
U.S. income tax law change |  |  | (65.1 | ) |  |  | — |
Global Intangible Low Taxed Income Tax ("GILTI") |  |  | — |  |  |  | 12.7 |
Withholding taxes associated with foreign jurisdictions |  |  | 8.4 |  |  |  | 6.1 |
Foreign income tax rate differential |  |  | 6.6 |  |  |  | 3.5 |
Tax effects of foreign exchange rate (losses) gains |  |  | (4.0 | ) |  |  | 2.3 |
Other |  |  | 1.0 |  |  |  | 4.0 |
|  |  | 109.5 | % |  |  | 49.6 | %
Summary of Valuation Allowances Against Net Deferred Income Taxes | Based on our assessments as of November 1, 2020, November 1, 2019, and May 3, 2020, valuation allowances against our net deferred income taxes pertain to the following:
(dollars in thousands) |  | November 1, 2020 |  |  | November 3, 2019 |  |  | May 3, 2020 |
U.S. federal and state net deferred income tax assets |  | $ | 8,543 |  |  |  | 711 |  |  |  | 867 |
U.S. capital loss carryforward |  |  | 2,281 |  |  |  | — |  |  |  | 2,281 |
|  | $ | 10,824 |  |  |  | 711 |  |  |  | 3,148 |

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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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