Income Taxes (Tables)

12 Months Ended

Mar. 28, 2020

Income Tax Disclosure [Abstract]

Summary of Income Before Income Taxes

Income before income taxes consisted of (in thousands): 

	Fiscal Years Ended
	March 28, 2020		March 30, 2019		March 31, 2018
U.S.	$	44,154	$	41,980	$	91,220
Non-U.S.	137,112		51,764		173,879
	$	181,266	$	93,744	$	265,099

Summary of Provision (Benefit) for Income Taxes

The provision (benefit) for income taxes consists of (in thousands): 

	Fiscal Years Ended
	March 28, 2020		March 30, 2019		March 31, 2018
Current:
U.S.	$	5,241	$	(7,109)	$	66,082
Non-U.S.	21,634		12,428		21,812
Total current tax provision	$	26,875	$	5,319	$	87,894
Deferred:
U.S.	(561)		5,441		19,309
Non-U.S.	(4,546)		(7,007)		(4,099)
Total deferred tax provision	(5,107)		(1,566)		15,210
Total tax provision	$	21,768	$	3,753	$	103,104

Summary of Provision (Benefit) for Income Taxes, Statutory Federal Rate Pretax Income Reconciliation

The effective income tax rates differ from the rates computed by applying the statutory federal rate to pretax income as follows (in percentages): 

	Fiscal Years Ended
	March 28, 2020	March 30, 2019	March 31, 2018
U.S. federal statutory rate	21.0	21.0	31.6
Foreign income taxed at different rates	(5.5)	(2.9)	(9.6)
Transition tax on deferred foreign income	—	(11.8)	20.3
Remeasurement of U.S. deferred tax balance	—	(0.1)	2.3
Research and development tax credits	—	(6.7)	(2.5)
Stock-based compensation	(2.7)	(1.0)	(4.5)
Foreign-derived intangible income deduction	(0.8)	(2.8)	—
Current U.S. tax on foreign earnings	1.1	2.2	0.7
Change in valuation allowance	(0.1)	4.4	—
Release of prior year unrecognized tax benefits	(2.3)	—	—
Interest related to unrecognized tax benefits	0.5	1.6	—
Other	0.8	0.1	0.6
Effective tax rate	12.0	4.0	38.9

Significant Components of Deferred Tax Assets and Liabilities

Significant components of our deferred tax assets and liabilities as of March 28, 2020 and March 30, 2019 are (in thousands): 

	March 28, 2020		March 30, 2019
Deferred tax assets:
Accrued expenses and allowances	$	2,750	$	4,024
Net operating loss carryforwards	2,093		2,940
Research and development tax credit carryforwards	13,066		13,111
Stock-based compensation	8,380		14,667
Lease liabilities	18,095		—
Other	1,260		1,261
Total deferred tax assets	$	45,644	$	36,003
Valuation allowance for deferred tax assets	(12,596)		(18,588)
Net deferred tax assets	$	33,048	$	17,415
Deferred tax liabilities:
Depreciation and amortization	$	5,425	$	8,913
Right of use asset	17,391		—
Acquisition intangibles	4,645		8,803
Total deferred tax liabilities	$	27,461	$	17,716
Total net deferred tax assets (liabilities)	$	5,587	$	(301)

Reconciliation of Unrecognized Tax Benefits

The following table summarizes the changes in the unrecognized tax benefits (in thousands): 

	March 28, 2020		March 30, 2019
Beginning balance	$	39,746	$	55,164
Additions based on tax positions related to the current year	615		2,204
Reductions based on tax positions related to the prior years	(4,153)		(17,622)
Ending balance	$	36,208	$	39,746