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Income taxes (Tables)
12 Months Ended
Apr. 01, 2023
Income taxes  
Schedule of components of the provision (benefit) for income taxes

Fiscal Year Ended

 

April 1,

April 2,

April 3,

 

    

2023

    

2022

    

2021

 

Income before income taxes:

U.S.

$

(149,604)

$

98,389

$

61,703

Foreign

 

5,838

 

14,305

 

19,140

$

(143,766)

$

112,694

$

80,843

Current

Federal

$

10,942

$

18,510

$

17,727

State

 

3,758

 

6,194

 

5,738

Foreign

 

741

 

2,651

 

3,835

Total current provision

 

15,441

 

27,355

 

27,300

Deferred

Federal

 

(490)

 

2,998

 

(3,733)

State

 

(228)

 

326

 

(1,029)

Foreign

 

367

 

297

 

22

Total deferred (benefit) provision

 

(351)

 

3,621

 

(4,740)

Total provision for income taxes

$

15,090

$

30,976

$

22,560

Schedule of differences between the actual provision for income taxes and the amounts computed by applying the statutory federal tax rate to income before taxes

Fiscal Year Ended

April 1,

April 2,

April 3,

    

2023

    

2022

    

2021

Provision computed at federal statutory rate

$

(30,191)

$

23,666

$

16,977

Permanent differences

 

42,283

 

1,460

 

1,326

Change in valuation allowance

 

422

 

80

 

(25)

State income taxes, net of federal benefit

 

2,810

 

5,189

 

3,720

Effect of foreign income taxes

 

(31)

 

(75)

 

7

Other, net

 

(203)

 

656

 

555

$

15,090

$

30,976

$

22,560

Schedule of components of deferred tax assets and liabilities

April 1,

April 2,

 

    

2023

    

2022

 

Deferred tax assets:

Inventory

$

2,422

$

2,257

Loss and credit carryforwards

 

5,619

 

5,474

Stock-based compensation

 

4,129

 

4,701

Accrued liabilities

 

4,346

 

6,006

Operating lease liabilities

96,232

94,811

Capital assets

73

94

Other

31

 

112,852

 

113,343

Valuation allowance

 

(5,402)

 

(4,991)

Total deferred tax assets

 

107,450

 

108,352

Deferred tax liabilities:

Intangibles

 

(56,990)

 

(57,269)

Operating lease assets

(88,325)

(87,092)

Capital assets

 

(10,905)

 

(12,908)

Other

 

 

(711)

Total deferred tax liabilities

 

(156,220)

 

(157,980)

Net deferred tax liabilities

$

(48,770)

$

(49,628)