Income Taxes (Tables)

12 Months Ended

May 03, 2015

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) consist of the following (in thousands):

	Fiscal Years Ended
	May 3, 2015			April 27, 2014			April 28, 2013
Current:
Federal	$	—		$	(385	)	$	—
State	209			523			(45		)
Foreign	8,814			5,691			3,896
	9,023			5,829			3,851
Deferred:
Federal	(607		)	—			—
State	(14		)	—			—
Foreign	393			(2,945		)	(3,624		)
	(228		)	(2,945		)	(3,624		)
Provision for income taxes	$	8,795		$	2,884		$	227

Income (loss) before income taxes and non-controlling interest consists of the following (in thousands):

	Fiscal Years Ended
	May 3, 2015			April 27, 2014		April 28, 2013
U.S.	$	(29,300	)	$	46,314	$	(21,863	)
Foreign	49,982			68,107		14,025
	$	20,682		$	114,421	$	(7,838	)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the income tax provision at the federal statutory rate and the effective rate is as follows:

	Fiscal Years Ended
	May 3, 2015		April 27, 2014		April 28, 2013
Expected income tax provision (benefit) at U.S. federal statutory rate	35.0	%	35.0	%	35.0	%
Foreign rate differential	(46.9	)	(18.3	)	38.3
Share-based compensation expense	29.6		2.5		(45.2	)
Non-deductible transaction costs	0.5		0.4		(5.8	)
Non-recurring acquisition-related gain	—		—		31.1
Valuation allowance	49.1		(21.4	)	(101.0	)
Intangibles impairment	—		—		36.8
Research and development credits	(15.0	)	(1.8	)	18.7
Non-deductible acquisition-related charge	—		—		(6.2	)
Other	(9.8	)	6.1		(4.6	)
	42.5	%	2.5	%	(2.9	)%

Schedule of Deferred Tax Assets and Liabilities

The components of deferred taxes consist of the following (in thousands):

	Fiscal Years Ended
	May 3, 2015			April 27, 2014			April 28, 2013
Deferred tax assets:
Inventory adjustments	$	10,024		$	8,905		$	9,170
Accruals and reserves	13,081			18,673			14,194
Tax credits	27,836			24,259			21,869
Net operating loss carryforwards	101,850			95,952			155,281
Gain/loss on investments under equity or cost method	8,367			8,843			8,931
Depreciation and amortization	4,509			2,817			1,915
Purchase accounting for intangible assets	4,438			5,651			190
Capital loss carryforward	172			229			563
Acquired intangibles	8,208			10,142			18,356
Stock compensation	9,302			8,372			7,917
Total deferred tax assets	187,787			183,843			238,386
Valuation allowance	(161,358		)	(153,657		)	(227,889		)
Net deferred tax assets	26,429			30,186			10,497
Deferred tax liabilities:
Acquired intangibles	(5,597		)	(7,252		)	(5,128		)
Debt discount	(13,862		)	(16,873		)	(1,592		)
Inventory reserve	(513		)	(457		)	(1,791		)
Depreciation and amortization	(7,068		)	(5,762		)	(774		)
Total deferred tax liabilities	(27,040		)	(30,344		)	(9,285		)
Total net deferred tax assets (liabilities)	$	(611	)	$	(158	)	$	1,212

Summary of Movement in Gross Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of the gross unrecognized tax benefits is as follows (in thousands):

	Fiscal Years Ended
	May 3, 2015		April 27, 2014			April 28, 2013
Beginning balance	$	13,432	$	15,632		$	14,634
Additions for tax positions related to current year	975		712			241
Additions for tax positions related to prior years	246		—			757
Reductions for tax positions related to prior years (lapse of statute of limitations)	—		(2,912		)	—
Ending balance	$	14,653	$	13,432		$	15,632