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Income Taxes | 9 Months Ended
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Nov. 02, 2019
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The effective income tax rate was 33.0 percent for the thirteen weeks ended November 2, 2019, compared with 24.0 percent for the thirteen weeks ended November 3, 2018. The increase in the effective tax rate is primarily due to a measurement period adjustment recorded during the thirteen weeks ended November 3, 2018 to reduce our fiscal 2017 provisional estimated net charge related to the Tax Cuts and Jobs Act (“TCJA”) transition tax and changes in the mix of income before taxes across jurisdictions with varying tax rates during the thirteen weeks ended November 2, 2019. The effective income tax rate was 31.6 percent for the thirty-nine weeks ended November 2, 2019, compared with 24.0 percent for the thirty-nine weeks ended November 3, 2018. The increase in the effective tax rate is primarily due to an adjustment recorded during the thirteen weeks ended August 3, 2019 to increase our fiscal 2017 tax liability for additional guidance issued by the U.S. Treasury Department regarding the TCJA and a measurement period adjustment recorded during the thirteen weeks ended November 3, 2018 to reduce our fiscal 2017 provisional estimated net charge related to the TCJA transition tax. The Company conducts business globally, and as a result, files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. In the normal course of business, we are subject to examination by taxing authorities throughout the world, including such major jurisdictions as the United States, Canada, France, the United Kingdom, China, Hong Kong, Japan, and India. We are no longer subject to U.S. federal income tax examinations for fiscal years before 2009, and with few exceptions, we are also no longer subject to U.S. state, local, or non-U.S. income tax examinations for fiscal years before 2008. The Company is in continual discussions with taxing authorities regarding tax matters in the various U.S. and foreign jurisdictions in the normal course of business. As of November 2, 2019, it is reasonably possible that we will recognize a decrease in gross unrecognized tax benefits within the next 12 months of up to $3 million, primarily due to the closing of audits. If we do recognize such a decrease, the net impact on the Condensed Consolidated Statements of Income would not be material.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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