
	Fiscal Year Ended
(in thousands)	April 3, 2021		March 28, 2020		March 30, 2019
Current:
Federal	$	(1,895)	$	15,794	$	(1,199)
State	1,780		2,310		2,550
Foreign	13,740		9,526		(1,550)
Total current income tax expense (benefit)	13,625		27,630		(199)
Deferred:
Federal	—		(12,899)		(37,577)
State	—		(768)		(4,160)
Foreign	(21,174)		(83,364)		(8,195)
Total deferred income tax benefit	(21,174)		(97,031)		(49,932)
Income tax benefit	$	(7,549)	$	(69,401)	$	(50,131)


	Fiscal Year Ended
(in thousands)	April 3, 2021		March 28, 2020		March 30, 2019
United States	$	(137,433)	$	(756,095)	$	(179,387)
Foreign	72,553		(140,488)		(6,305)
Loss before income taxes	$	(64,880)	$	(896,583)	$	(185,692)


	Fiscal Year Ended
(in thousands)	April 3, 2021		March 28, 2020		March 30, 2019
Tax benefit at statutory rate	$	(13,625)	$	(188,282)	$	(38,995)
Foreign operations taxed at different rates	(11,709)		2,497		(4,965)
State taxes, net of federal benefit	(5,077)		(14,326)		(1,610)
Research and development credit	(9,725)		(6,498)		(4,288)
US tax on foreign earnings	11,274		10,889		4,398
Impact of Tax Act	—		—		(3,728)
Goodwill impairment	—		101,604		—
Stock-based compensation	6,751		7,369		(1,196)
Internal restructuring related benefit	—		(65,069)		—

Valuation allowance change	23,928		68,486		—
Altera accrual	—		9,467		—
Tax rate change	(12,418)		—		—
Nondeductible compensation	1,209		1,187		1,611
Provision to return	2,707		1,717		—
Other, net	(864)		1,558		(1,358)
Income tax benefit	$	(7,549)	$	(69,401)	$	(50,131)

Deferred tax assets and liabilities represent the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting and income tax purposes. Significant components of the Company's deferred tax assets and liabilities as of April 3, 2021 and March 28, 2020 are as follows:


(in thousands)	April 3, 2021		March 28, 2020
Deferred tax assets
Accruals and other reserves	$	36,503	$	29,788
Deferred compensation	3,717		277
Net operating loss carry forward	10,923		11,810
Stock-based compensation	9,939		10,867
Interest expense	23		10,676
Tax credits	13,858		12,437
Capitalized R&D costs	54,725		41,123
Intangible assets	101,362		94,809
Other deferred tax assets	4,610		3,826
Unearned revenue	9,043		6,521
Property, plant, and equipment depreciation	1,045		818
Total deferred tax assets, before valuation allowance	245,748		222,952
Valuation allowance(1)	(101,740)		(81,436)
Total deferred tax assets, net	144,008		141,516

Deferred tax liabilities
Deferred gains on sales of properties	(1,137)		(1,128)
Purchased intangibles	(42,255)		(55,586)
Unremitted earnings of certain subsidiaries	(889)		(7,123)
Right of use assets	(5,623)		(5,316)

Total deferred tax liabilities	(49,904)		(69,153)
Net deferred tax assets	$	94,104	$	72,363

Valuation allowances are established when necessary to reduce deferred tax assets to the amounts that are more-likely-than-not expected to be realized. Management evaluates and weighs all available positive and negative evidence such as historic results, projected future taxable income, future reversals of existing deferred tax liabilities, as well as prudent and feasible tax-planning strategies. On the basis of this evaluation, the Company maintains a 100% valuation allowance against its U.S. Federal and State deferred tax assets of $92.6 million.

The impact of an uncertain income tax position on income tax expense must be recognized at the largest amount that is more-likely-than-not to be sustained. An uncertain income tax position will not be recognized unless it has a greater than 50% likelihood of being sustained. The Company adjusts these reserves in light of changing facts and circumstances, such as the closing of a tax audit, new tax legislation, or the change of an estimate. As of April 3, 2021 and March 28, 2020, the Company had unrecognized tax benefits of $149.5 million and $152.3 million, respectively. The increase of uncertain tax positions when compared to the prior year is primarily due to an enacted statutory tax rate increase in Netherlands, which resulted in remeasurement of unrecognized tax benefits. The unrecognized tax benefits as of April 3, 2021 would favorably impact the effective tax rate in future periods if recognized.


	Fiscal Year Ended
(in thousands)	April 3, 2021		March 28, 2020		March 30, 2019
Balance at beginning of period	$	152,307	$	26,458	$	12,612
Increase (decrease) of unrecognized tax benefits related to prior fiscal years	8,827		11,226		254
Increase of unrecognized tax benefits related to business combinations	—		89		13,329
Increase of unrecognized tax benefits related to current year income statement	—		115,824		2,069
Reductions to unrecognized tax benefits related to settlements with taxing authorities	(9,668)		(995)		—
Reductions to unrecognized tax benefits related to lapse of applicable statute of limitations	(2,000)		(295)		(1,806)
Balance at end of period	$	149,466	$	152,307	$	26,458

The Company's continuing practice is to recognize interest and penalties related to income tax matters in income tax expense. The interest related to unrecognized tax benefits was $3.6 million and $4.0 million as of April 3, 2021 and March 28, 2020, respectively. No penalties have been accrued.

The Company and its subsidiaries are subject to taxation in various foreign and state jurisdictions, including the U.S. The Federal statute is open from Calendar Year 2014. Foreign and State income tax matters for material tax jurisdictions have been concluded for tax years prior to Fiscal Year 2014. Within the next twelve months, we believe that the resolution of certain U.S. and foreign tax examinations and negotiations is reasonably possible and that a change in estimate, reducing unrecognized tax benefits, may occur. It is not possible to provide a range of the potential change until the tax examinations and negotiations progress further or the related statutes of limitations expire.

The Company's U.S. federal and state net operating losses carryforwards as of April 3, 2021, were $0.4 million and $1.2 million, respectively. The U.S. federal net operating losses will expire between 2022 and 2026, and the state net operating losses will expire at various dates through 2037. The federal credit of $3.2 million will expire at various dates between 2021 and 2041. The state credits of $10.1 million will expire at various dates between 2021 through 2041 except for California R&D credit, which does not expire.