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Cash Flow Information | 6 Months Ended
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Nov. 01, 2020
Supplemental Cash Flow Elements [Abstract] |
Cash Flow Information | 12. Cash Flow Information Interest and income taxes paid (refunded) are as follows:
|  | Six months ended |
(dollars in thousands) |  | November 1, 2020 |  |  | November 3, 2019 |
Interest |  | $ | 60 |  |  | $ | 40 |
Income taxes (1) (2) |  |  | (556 | ) |  |  | 2,782 |
(1) | In accordance with the provisions of the 2017 Tax Cuts and Jobs Act (“TCJA”), corporate taxpayers were eligible to treat prior AMT credit carryforwards as refundable. Accordingly, we elected to treat our prior AMT credit carryforward balance of $1.5 million as refundable, and as a result, 50% of the $1.5 million refundable balance was expected to be received in each our fiscal years 2021 and 2022, respectively. We received our first 50% installment totaling $746,000 during the first quarter of fiscal 2021. In accordance with the provisions of the CARES Act, 100% of AMT credit carryforwards for tax years beginning in the 2019 tax year were immediately refundable. Accordingly, we claimed credit for the remaining 50% installment of our refundable AMT credit carryforward in May 2020. We received our remaining 50% installment plus interest totaling $764,000 during the second quarter of fiscal 2021.
(2) | The net income tax refund totaling $556,000 during the first six months of fiscal 2021 represented AMT refunds totaling $1.5 million as referenced in note (1) above that were partially offset by a U.S. federal transition tax payment of $227,000 as required by the TCJA, and income tax payments associated with our foreign jurisdictions totaling $726,000. The income tax payments totaling $2.8 million during the first half of fiscal 2020 represented income tax payments associated with our foreign jurisdictions totaling $1.9 million and a withholding tax payment of $838,000 paid to the Chinese government for earnings and profits repatriated to the U.S. parent company.

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- Definition The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -URI http://asc.fasb.org/topic&trid=2134446 + Details
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