Income Taxes

On October 29, 2014, the Company’s Board of Directors approved a proposal to move the Company’s principal executive office from Hong Kong to the United Kingdom ("U.K.") and to become a U.K. tax resident. The Company remains incorporated in the British Virgin Islands. Due to substantial international growth and expansion over the past several years and the Company being a U.K. tax resident for both of the fiscal periods presented, the Company believes that it is most appropriate to reconcile its effective tax rate to the UK Statutory tax rate.

The following table summarizes the significant differences between the U.K. federal statutory tax rate and the Company's effective tax rate for financial statement purposes.



	Three Months Ended				Six Months Ended
	October 1, 2016		September 26, 2015		October 1, 2016		September 26, 2015
U.K. statutory tax rate	20.0	%	20.0	%	20.0	%	20.0	%
Effect of operations in non-U.K. jurisdictions	7.6	%	8.6	%	7.4	%	8.5	%
Global financing activities	(10.0	)%	(2.4	)%	(9.6	)%	(2.2	)%
State and local income taxes, net of federal benefit	1.1	%	1.4	%	1.1	%	1.8	%
Other	2.0	%	1.3	%	2.0	%	1.0	%
Effective tax rate	20.7	%	28.9	%	20.9	%	29.1	%