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Income Taxes (Tables)
12 Months Ended
Mar. 25, 2017
Income Taxes [Abstract]  
Summary of Income Before Income Taxes



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



Fiscal Years Ended



March 25,

 

March 26,

 

March 28,



2017

 

2016

 

2015

U.S.

$

137,654 

 

$

108,133 

 

$

133,295 

Non-U.S.

 

177,393 

 

 

67,856 

 

 

(41,746)



$

315,047 

 

$

175,989 

 

$

91,549 



Summary of Provision (Benefit) for Income Taxes



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



Fiscal Years Ended



March 25,

 

March 26,

 

March 28,



2017

 

2016

 

2015

Current:

 

 

 

 

 

 

 

 

U.S.

$

28,940 

 

$

28,313 

 

$

42,165 

Non-U.S.

 

7,234 

 

 

703 

 

 

445 

Total current tax provision

$

36,174 

 

$

29,016 

 

$

42,610 



 

 

 

 

 

 

 

 

Deferred:

 

 

 

 

 

 

 

 

U.S.

 

2,576 

 

 

18,242 

 

 

2,136 

Non-U.S.

 

15,088 

 

 

5,101 

 

 

(8,375)

Total deferred tax provision (benefit)

 

17,664 

 

 

23,343 

 

 

(6,239)

Total tax provision

$

53,838 

 

$

52,359 

 

$

36,371 



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



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



Fiscal Years Ended



March 25,

 

March 26,

 

March 28,



2017

 

2016

 

2015

U.S. federal statutory rate

 

35.0 

 

 

35.0 

 

 

35.0 

Foreign income taxed at different rates

 

(8.6)

 

 

(0.6)

 

 

7.3 

Research and development tax credits

 

(1.8)

 

 

(5.6)

 

 

(3.6)

Stock based compensation

 

(7.3)

 

 

 -

 

 

 -

Nondeductible expenses

 

 -

 

 

0.1 

 

 

2.3 

Other

 

(0.2)

 

 

0.9 

 

 

(1.3)

Effective tax rate

 

17.1 

 

 

29.8 

 

 

39.7 



Significant Components of Deferred Tax Assets and Liabilities



 

 

 

 

 



 

 

 

 

 



March 25,

 

March 26,



2017

 

2016

Deferred tax assets:

 

 

 

 

 

Accrued expenses and allowances

$

9,002 

 

$

3,761 

Net operating loss carryforwards

 

6,294 

 

 

24,592 

Research and development tax credit carryforwards

 

13,977 

 

 

9,649 

Stock based compensation

 

17,356 

 

 

16,071 

Other

 

9,141 

 

 

9,976 

Total deferred tax assets

$

55,770 

 

$

64,049 

Valuation allowance for deferred tax assets

 

(12,570)

 

 

(10,773)

Net deferred tax assets

$

43,200 

 

$

53,276 



 

 

 

 

 

Deferred tax liabilities:

 

 

 

 

 

Depreciation and amortization

$

13,837 

 

$

13,607 

Acquisition intangibles

 

16,301 

 

 

21,844 

Total deferred tax liabilities

$

30,138 

 

$

35,451 

Total net deferred tax assets

$

13,062 

 

$

17,825 



Reconciliation of Unrecognized Tax Benefits



 

 

 

 

 



 

 

 

 

 



March 25,

 

March 26,



2017

 

2016

Beginning balance

$

18,796 

 

$

 -

Additions based on tax positions related to the current year

 

12,127 

 

 

12,592 

Additions based on tax positions related to prior years

 

 -

 

 

6,204 

Reductions based on tax positions related to the prior years

 

(65)

 

 

 -

Ending balance

$

30,858 

 

$

18,796