XML 98 R80.htm IDEA: XBRL DOCUMENT v3.25.2
Income Taxes - Differences Between Income Tax Expense from Continuing Operations at Federal Income Tax Rate and Effective Income Tax Rate (Detail)
 12 Months Ended
Apr. 27, 2025
Apr. 28, 2024
Apr. 30, 2023
Income Tax Disclosure [Abstract]      
U.S. federal income tax rate 21.00% 21.00% 21.00%
valuation allowance (23.00%) (30.90%) (24.00%)
foreign tax rate differential (1.40%) (4.70%) (4.00%)
income tax effects of Chinese foreign exchange gains and losses (0.50%) (3.60%) (0.90%)
withholding taxes associated with foreign tax jurisdictions (1.70%) (6.50%) (2.40%)
uncertain income tax positions 2.50% (0.70%) (0.30%)
U.S. state income taxes 1.10% 0.80% 0.60%
stock-based compensation (0.30%) (1.80%) (0.30%)
other (1) [1] 0.20% (1.90%) (0.70%)
consolidated effective income tax rate (2) (3) [2],[3] (2.10%) (28.30%) (11.00%)
[1] “Other” for all periods presented represents miscellaneous adjustments that pertain to U.S. permanent differences such as meals and entertainment, income tax provision to return adjustments, and other and miscellaneous items.
[2] Our negative consolidated effective income tax rates during fiscal 2025, 2024, and 2023 were further caused by pre-tax losses associated with our Haitian operations, which are not subject to income tax. Our Haitian operations are located in an economic zone that permits a 0% income tax rate for the first fifteen years of operations, for which we have seven years remaining. As a result of the 0% income tax rate, an income tax benefit was not recognized for the pre-tax losses associated with our Haitian operations totaling $(1.6) million, $(2.1) million, and $(3.5) million that were incurred during fiscal 2025, 2024, and 2023, respectively.
[3] Our negative consolidated effective income tax rates during fiscal 2025, 2024, and 2023, were caused by the mix of earnings between our U.S. operations and foreign subsidiaries, as our taxable income stemmed from our operations located in China during fiscal 2025 and both our operations located in China and Canada during fiscal 2024 and 2023, which jurisdictions have higher income tax rates than the U.S. In addition, we applied a full valuation allowance against our U.S. deferred income tax assets during fiscal 2025, 2024, and 2023, respectively. Consequently, an income tax benefit was not recognized for the pre-tax losses associated with our U.S. operations totaling $(18.4) million, $(18.6) million, and $(33.5) million that were incurred during fiscal 2025, 2024, and 2023, respectively.