Income Taxes (Tables)

3 Months Ended

Jul. 30, 2023

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 30, 2023, and July 31, 2022:

	July 30,			July 31,
	2023			2022
U.S. federal income tax rate		21.0	%		21.0	%
U.S. valuation allowance		(34.1	)		(35.4	)
Withholding taxes associated with foreign jurisdictions		(9.7	)		(5.0	)
Foreign income tax rate differential		(6.0	)		2.7
Stock-based compensation		—			(2.1	)
Tax effects of local currency foreign exchange gains (losses)		2.3			1.4
Other		—			(1.3	)
	(26.5%)			(18.7%)

Summary of Valuation Allowances Against Net Deferred Income Tax Assets

Based on our assessments as of July 30, 2023, July 31, 2022, and April 30, 2023, valuation allowances against our net deferred income tax assets pertain to the following:

(dollars in thousands)	July 30, 2023		July 31, 2022		April 30, 2023
U.S. federal and state net deferred income tax assets	$	17,246		11,006		16,345
U.S. capital loss carryforward		2,330		2,330		2,330
	$	19,576		13,336		18,675

Summary of Taxes Paid

The following table sets forth taxes paid by jurisdiction:

	July 30,		July 31,
(dollars in thousands)	2023		2022
China Income Taxes, Net of Refunds	$	915	$	548
Canada Income Taxes, Net of Refunds		197		82
	$	1,112	$	630