Income Taxes (Tables)

12 Months Ended

Apr. 25, 2020

Income Tax Disclosure [Abstract]

Components of Provision for Income Taxes

The components of (loss) income before taxes were as follows:

	Fiscal Year Ended
	April 25, 2020		April 27, 2019		April 28, 2018
(Loss) income before taxes
United States	$	(594,431)	$	76,035	$	144,278
International	4,024		30,193		34,985
Total	$	(590,407)	$	106,228	$	179,263

Significant components of income tax (benefit) expense were as follows:

	Fiscal Year Ended
	April 25, 2020		April 27, 2019		April 28, 2018
Current:
Federal	$	18,300	$	(19)	$	5,876
Foreign	7,501		9,207		11,228
State	4,959		3,402		2,243
Total current expense	30,760		12,590		19,347
Deferred:
Federal	(25,918)		9,709		(45,177)
Foreign	164		(53)		(743)
State	(6,046)		1,106		4,862
Total deferred (benefit) expense	(31,800)		10,762		(41,058)
Income tax (benefit) expense	$	(1,040)	$	23,352	$	(21,711)

Components of Deferred Tax Assets (Liabilities)

Significant components of our deferred tax assets (liabilities) were as follows:

	April 25, 2020		April 27, 2019
Deferred tax assets:
Capital accumulation plan	$	2,541	$	3,988
Inventory related items	10,354		4,887
Bad debt allowance	1,857		1,888
Stock based compensation expense	7,486		6,918
Interest rate swap	1,580		4,041
Foreign tax credit	7,248		7,358
Lease liability	16,572		—
Other	2,945		5,053
Gross deferred tax assets	50,583		34,133
Less: Valuation allowance	(14,886)		(11,237)
Total net deferred tax assets	35,697		22,896
Deferred tax liabilities
LIFO reserve	(32,630)		(24,098)
Amortizable intangibles	(69,254)		(77,126)
Goodwill	(11,848)		(43,903)
Property, plant, equipment	(39,999)		(40,793)
Lease right-of-use asset	(16,195)		—
Total deferred tax liabilities	(169,926)		(185,920)
Deferred net long-term income tax liability	$	(134,229)	$	(163,024)

Summary of Effective Income Tax Expense Reconciliation

Income tax (benefit) expense varies from the amount computed using the U.S. statutory rate. The reasons for this difference and the related tax effects are shown below.

	Fiscal Year Ended
	April 25, 2020		April 27, 2019		April 28, 2018
Tax at U.S. statutory rate	$	(123,987)	$	22,306	$	54,674
State tax provision, net of federal benefit	(466)		3,492		4,650
Effect of foreign taxes	7,277		2,728		(186)
Goodwill impairment	107,999		—		—
Legal settlement	11,088		—		—
ESOP	(2,393)		(2,465)		(4,036)
Other permanent differences	1,533		1,074		(728)
Tax reform	—		(2,686)		(76,648)
Other	(2,091)		(1,097)		563
Income tax (benefit) expense	$	(1,040)	$	23,352	$	(21,711)

Summary of Changes in Gross Amounts of Unrecognized Tax Benefits

A summary of the changes in the gross amounts of unrecognized tax benefits is shown below.

	April 25, 2020		April 27, 2019
Balance at beginning of period	$	13,035	$	14,227
Additions for tax positions related to the current year	1,182		972
Additions for tax positions of prior years	218		50
Reductions for tax positions of prior years	(37)		(228)
Statute expirations	(2,289)		(1,984)
Settlements	(369)		(2)
Balance at end of period	$	11,740	$	13,035