Income Taxes (Tables)

9 Months Ended

Jan. 31, 2021

Schedule of Allocation of Income Tax Expense

Total income tax expense (benefit) for the nine-month periods ending January 31, 2021, and February 2, 2020, were allocated as follows:

	January 31,		February 2,
(dollars in thousands)	2021		2020
Income from continuing operations	$	6,836	$	5,590
Loss from discontinued operations		—		(2,984	)
Total income tax expense	$	6,836	$	2,606

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 from continuing operations at the U.S. federal income tax rate and the effective income tax rate from continuing operations reflected in the consolidated financial statements for the nine-month periods ending January 31, 2021 and February 2, 2020:

	January 31,			February 2,
	2021			2020
U.S. federal income tax rate		21.0	%		21.0	%
U.S. valuation allowance	89.9				—
U.S. income tax law change		(41.3	)		—
Global Intangible Low Taxed Income Tax ("GILTI")		—			14.2
Withholding taxes associated with foreign jurisdictions		7.5			7.8
Foreign income tax rate differential		8.9			5.2
Tax effects of foreign exchange rate (losses) gains		(6.7	)		1.0
Other		0.8			3.0
		80.1	%		52.2	%

Summary of Valuation Allowances Against Net Deferred Income Taxes

Based on our assessments as of January 31, 2021, February 2, 2020, and May 3, 2020, valuation allowances against our net deferred income taxes pertain to the following:

(dollars in thousands)	January 31, 2021		February 2, 2020		May 3, 2020
U.S. federal and state net deferred income tax assets	$	8,544		711		867
U.S. capital loss carryforward		2,281		—		2,281
	$	10,825		711		3,148