Income Taxes (Tables)

12 Months Ended

Oct. 02, 2020

Income Tax Disclosure [Abstract]

Components of Deferred Tax Assets and Liabilities

The components of our deferred tax assets and liabilities are as follows (in thousands):

	October 2, 2020		September 27, 2019
Deferred tax assets:
Net operating loss and credit carryforward	$	278,418	$	263,199
Intangible assets	15,880		9,887
Property and equipment	3,274		—
Accrued expenses	14,564		16,149
Minority equity investments	1,010		784
Lease obligations	12,732		—
Interest	5,471		7,170
Gross deferred tax asset	331,349		297,189
Less valuation allowance	(277,442)		(252,536)
Deferred tax asset, net of valuation allowance	$	53,907	$	44,653
Deferred tax liabilities:
Property and equipment	$	—	$	(1,473)
Right of use lease asset	$	(14,057)	$	—
Deferred tax liabilities	$	(14,057)	$	(1,473)
Net deferred tax asset	$	39,850	$	43,180

Summary of Domestic and Foreign Income (Loss) from Continuing Operations Before Taxes

The domestic and foreign (loss) income from continuing operations before taxes were as follows (in thousands):

	Fiscal Years
	2020		2019		2018
United States	$	(65,915)	$	(458,617)	$	(145,851)
Foreign	24,353		35,464		(9,384)
(Loss) income from operations before income taxes	$	(41,562)	$	(423,153)	$	(155,235)

Components of Provision (Benefit) for Income Taxes

The components of the provision (benefit) for income taxes are as follows (in thousands):

	Fiscal Years
	2020		2019		2018
Current:
Federal	$	(834)	$	70	$	(6,876)
State	48		36		(160)
Foreign	1,958		876		1,642
Current provision (benefit)	1,172		982		(5,394)
Deferred:
Federal	(8,635)		(21,560)		75,428
State	(22,613)		12,907		(15,526)
Foreign	9,686		(41,108)		(24,652)
Change in valuation allowance	24,906		9,424		(51,329)
Deferred provision (benefit)	3,344		(40,337)		(16,079)
Total provision (benefit)	$	4,516	$	(39,355)	$	(21,473)

Reconciliation of Effective Tax Rates

Our effective tax rates differ from the federal and statutory rate as follows:

	Fiscal Years
	2020	2019	2018
Federal statutory rate	21.0%	21.0%	24.5%
Change in valuation allowance	(60.5)	(2.4)	34.0
Provision to return adjustments	25.4	0.3	8.3
Research and development credits	20.7	1.4	9.0
Global Intangible Low Taxed Income	(11.4)	(2.9)	—
Foreign rate differential	9.1	1.6	5.1
Warrant liability	(6.5)	—	4.4
Intra-entity license transfer	(4.6)	9.4	—
Nondeductible compensation expense	(4.1)	(0.6)	1.4
State taxes net of federal benefit	0.9	0.9	0.8
Section 382 adjustment	—	(19.3)	—
Nondeductible legal fees	—	—	0.9
2017 tax reform	—	—	(73.7)
Other permanent differences	(0.9)	(0.1)	(0.9)
Effective income tax rate	(10.9)%	9.3%	13.8%

Summary of Fiscal Tax Years Examination by Jurisdictions

A summary of the fiscal tax years that remain subject to examination, as of October 2, 2020, for the Company’s significant tax jurisdictions are:

Jurisdiction	Tax Years Subject to Examination
United States—federal	2018 - forward
United States—various states	2016 - forward
Ireland	2016 - forward