Income Taxes (Tables)

12 Months Ended

Oct. 03, 2020

Income Tax Disclosure [Abstract]

Schedule of Domestic and Foreign Components of Income (Loss) Before Income Taxes

The domestic and foreign components of income (loss) before income tax expense for fiscal 2020, 2019 and 2018 were as follows (in thousands): 

	2020		2019		2018
U.S. (1)	$	(69,102)	$	(42,806)	$	(53,243)
Foreign (1)	204,499		168,761		160,853
	$	135,397	$	125,955	$	107,610

(1) The U.S. and Foreign components of income (loss) before income tax expense include the elimination of intercompany foreign dividends paid to the Company's U.S. operations.

Schedule of Income Tax Expense (Benefit)

Income tax expense (benefit) for fiscal 2020, 2019 and 2018 were as follows (in thousands): 

	2020		2019		2018
Current:
Federal	$	8,779	$	15,160	$	63,814
State	23		—		234
Foreign	12,699		11,943		10,134
	21,501		27,103		74,182
Deferred:
Federal	(6,498)		(3,498)		(2,958)
State	3		827		(447)
Foreign	2,912		(7,093)		23,793
	(3,583)		(9,764)		20,388
	$	17,918	$	17,339	$	94,570

Schedule of Reconciliation of Federal Statutory Income Tax Rate to Effective Income Tax Rates

The following is a reconciliation of the federal statutory income tax rate to the effective income tax rates reflected in the Consolidated Statements of Comprehensive Income for fiscal 2020, 2019 and 2018: 

	2020		2019		2018
Federal statutory income tax rate	21.0	%	21.0	%	24.5	%
(Decrease) increase resulting from:
Foreign tax rate differences	(24.0)		(21.0)		(30.2)
Withholding tax on dividends	1.9		(5.4)		23.7
Permanent differences	(2.6)		(1.3)		0.8
Excess tax benefits related to share-based compensation	(3.0)		(1.3)		(2.7)
Global intangible low-taxed income ("GILTI")	13.8		11.7		—
Deemed repatriation tax	—		5.6		92.2
Non-deductible compensation	2.2		1.5		0.2
Valuation allowances	3.6		1.5		(30.6)
Rate changes	—		—		9.0
Other, net	0.3		1.5		1.0
Effective income tax rate	13.2	%	13.8	%	87.9	%

Schedule of Components of Net Deferred Income Tax Assets (Liabilities)

The components of the net deferred income tax assets as of October 3, 2020 and September 28, 2019, were as follows (in thousands):

	2020		2019
Deferred income tax assets:
Loss/credit carryforwards	$	31,854	$	28,391
Inventories	14,450		16,809
Accrued employee benefits	14,833		15,834
Accrued liabilities	7,015		—
Other	5,434		3,353
Total gross deferred income tax assets	73,586		64,387
Less valuation allowances	(34,948)		(29,170)
Deferred income tax assets	38,638		35,217
Deferred income tax liabilities:
Property, plant and equipment	14,282		15,621
Tax on unremitted earnings	5,339		5,192
Acceleration of revenue under Topic 606	4,028		6,055
Deferred income tax liabilities	23,649		26,868
Net deferred income tax assets/(liabilities)	$	14,989	$	8,349

Schedule of Reconciliation of Beginning And Ending Amounts of Unrecognized Income Tax Benefits

The following is a reconciliation of the beginning and ending amounts of unrecognized income tax benefits (in thousands):

	2020		2019		2018
Balance at beginning of fiscal year	$	2,270	$	5,841	$	3,115
Gross increases for tax positions of prior years	509		62		21
Gross increases for tax positions of the current year	465		39		2,893
Gross decreases for tax positions of prior years	(1,148)		(3,672)		(188)
Balance at end of fiscal year	$	2,096	$	2,270	$	5,841

Schedule of Years That Remain Subject to Examination by Major Tax Jurisdictions

The Company files income tax returns, including returns for its subsidiaries, with federal, state, local and foreign taxing jurisdictions. The following tax years remain subject to examination by the respective major tax jurisdictions:

Jurisdiction	Fiscal Years
China	2015-2020
Germany	2015-2020
Malaysia	2016-2020
Mexico	2014-2020
Romania	2014-2020
United Kingdom	2017-2020
United States
Federal	2015, 2017-2020
State	2003-2006, 2009-2020