Income Taxes (Tables)

6 Months Ended

Oct. 30, 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 six-month periods ending October 30, 2022, and October 30, 2021:

	October 30,			October 31,
	2022			2021
U.S. federal income tax rate		21.0	%		21.0	%
U.S. valuation allowance		(36.7	)		(4.5	)
Withholding taxes associated with foreign jurisdictions		(3.3	)		6.1
Foreign income tax rate differential		3.2			3.9
Tax effects of local currency foreign exchange gains (losses)		4.7			(0.4	)
Stock-based compensation		(0.6	)		0.2
Global Intangible Low Taxed Income Tax ("GILTI")		—			3.3
Other		(1.2	)		0.7
		(12.9	)		30.3	%

Summary of Valuation Allowances Against Net Deferred Income Tax Assets

Based on our assessments as of October 30, 2022, October 31, 2021, and May 1, 2022, valuation allowances against our net deferred income tax assets pertain to the following:

(dollars in thousands)	October 30, 2022		October 31, 2021		May 1, 2022
U.S. federal and state net deferred income tax assets	$	13,958		9,155		9,527
U.S. capital loss carryforward		2,330		2,330		2,330
	$	16,288		11,485		11,857

Summary of Taxes Paid

The following table sets forth taxes paid by jurisdiction:

	Six Months		Six Months
	Ended		Ended
	October 30,		October 31,
(dollars in thousands)	2022		2021
United States Transition Tax Payment	$	265	$	266
China Income Taxes		1,286		921
China - Withholding Taxes Associated With      Earnings and Profits Distributed to the U.S.		—		487
Canada - Income Taxes		161		427
	$	1,712	$	2,101