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Income Taxes (Tables) | 3 Months Ended
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Jul. 31, 2022
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 for the three-month periods ending July 31, 2022, and August 1, 2021:
|  | July 31, |  |  | August 1, |
|  | 2022 |  |  | 2021 |
U.S. federal income tax rate |  |  | 21.0 | % |  |  | 21.0 | %
U.S. valuation allowance |  |  | (35.4 | ) |  |  | (3.9 | )
Withholding taxes associated with foreign jurisdictions |  |  | (5.0 | ) |  |  | 4.7 |
Foreign income tax rate differential |  |  | 2.7 |  |  |  | 2.8 |
Stock-based compensation |  |  | (2.1 | ) |  |  | 0.2 |
Global Intangible Low Taxed Income Tax ("GILTI") |  |  | — |  |  |  | 3.4 |
Other |  |  | 0.1 |  |  |  | 0.5 |
|  | (18.7%) |  |  |  | 28.7 | %
Summary of Valuation Allowances Against Net Deferred Income Tax Assets | Based on our assessments as of July 31, 2022, August 1, 2021, and May 1, 2022, valuation allowances against our net deferred income tax assets pertain to the following:
(dollars in thousands) |  | July 31, 2022 |  |  | August 1, 2021 |  |  | May 1, 2022 |
U.S. federal and state net deferred income tax assets |  | $ | 11,006 |  |  |  | 9,221 |  |  |  | 9,527 |
U.S. capital loss carryforward |  |  | 2,330 |  |  |  | 2,330 |  |  |  | 2,330 |
|  | $ | 13,336 |  |  |  | 11,551 |  |  |  | 11,857 |
Summary of Taxes Paid | The following table sets forth taxes paid by jurisdiction:
|  |  |  |  | Three Months Ended |  |  |
|  | July 31, |  |  | August 1, |
(dollars in thousands) |  | 2022 |  |  | 2021 |
China - Income Taxes |  | $ | 548 |  |  | $ | 921 |
China - Withholding Taxes Associated With Earnings and Profits Distributed to the U.S. |  |  | — |  |  |  | 487 |
Canada - Income Taxes |  |  | 82 |  |  |  | 280 |
|  | $ | 630 |  |  | $ | 1,688 |

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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 https://asc.fasb.org/extlink&oid=121826272&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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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