	Fiscal Year Ended January 31,
	2020		2019		2018
Domestic	$	233,742	$	336,823	$	208,787
Foreign		5,978		48,730		52,579
	$	239,720	$	385,553	$	261,366

The components of the provision for income tax expense/(benefit) are as follows:

	Fiscal Year Ended January 31,
	2020			2019			2018
Current:
Federal	$	50,507		$	71,520		$	124,988
State		13,525			18,088			10,772
Foreign		6,141			9,356			9,014
	$	70,173		$	98,964		$	144,774
Deferred:
Federal	$	(3,260	)	$	(6,818	)	$	10,270
State		(772	)		965			(1,914	)
Foreign		5,483			(5,561	)		(27	)
		1,451			(11,414	)		8,329
	$	71,624		$	87,550		$	153,103

The following table reflects the differences between the statutory U.S. federal income tax rate and the Company’s effective tax rate:

	Fiscal Year Ended January 31,
	2020			2019			2018
Expected provision at statutory U.S. federal tax rate		21.0	%		21.0	%		33.8	%
State and local income taxes, net of federal tax benefit		4.2			3.9			2.3
Foreign taxes		4.0			(1.5	)		(3.4	)
Net impact of U.S. tax reform		—			0.3			24.7
Other		0.7			(1.0	)		1.2
Effective tax rate		29.9	%		22.7	%		58.6	%

The significant components of deferred tax assets and liabilities as of January 31, 2020 and 2019 are as follows:

	January 31,
	2020			2019
Deferred tax liabilities:
Prepaid expense	$	(2,393	)	$	(1,729	)
Depreciation		(32,311	)		(39,303	)
Operating lease right-of-use assets		(260,706	)		—
Other temporary differences		(1,129	)		(1,258	)
Gross deferred tax liabilities		(296,539	)		(42,290	)
Deferred tax assets:
Operating lease liabilities		310,209			—
Deferred rent		—			52,409
Inventory		11,436			10,579
Accounts receivable		1,475			2,198
Net operating loss carryforwards		4,547			1,945
Tax uncertainties		1,336			953
Accrued salaries and benefits		17,534			20,216
Income tax credits		4,511			4,659
Other temporary differences		10,050			6,119
Gross deferred tax assets, before valuation allowances		361,098			99,078
Valuation allowances		(13,459	)		(3,906	)
Net deferred tax assets	$	51,100		$	52,882

Net deferred tax assets are attributed to the jurisdictions in which the Company operates. As of January 31, 2020 and 2019, respectively, $25,972 and $22,885 were attributable to U.S. federal, $15,858 and $15,079 were attributed to state jurisdictions and $9,270 and $14,918 were attributed to foreign jurisdictions.

As of January 31, 2020, certain non-U.S. subsidiaries of the Company had net operating loss carryforwards for tax purposes of approximately $3,331 that expire from 2020 through 2030 and approximately $16,976 that do not expire. Certain U.S. subsidiaries of the Company had state net operating loss carryforwards for tax purposes of approximately $9,167 that expire from 2021 through 2038 and approximately $3,273 that do not expire. Certain U.S. subsidiaries of the Company had state credit carryforwards for tax purposes of approximately $5,962 that expire from 2021 through 2031. As of January 31, 2020, the Company had full and partial valuation allowances for certain foreign net operating loss carryforwards and a partial valuation allowance against state credit carryforwards where it was uncertain the carryforwards would be utilized. The Company had no valuation allowance for certain other foreign and state net operating loss carryforwards where management believes it is more-likely-than-not the tax benefit of these carryforwards will be realized.

As of January 31, 2020, approximately $202,609 of cash and cash equivalents were held by the Company’s non-U.S. subsidiaries for which no deferred taxes have been provided. Additionally, the Company has cumulative undistributed earnings of $347,077 that were subject to the one-time deemed repatriation transition tax required by the Tax Act. The Company continues to believe that certain foreign earnings are indefinitely reinvested.

A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows:

	January 31,
Tax Benefit Reconciliation	2020			2019			2018
Balance at the beginning of the period	$	21,406		$	4,546		$	5,798
Increases in tax positions for prior years		661			18,077			45
Decreases in tax positions for prior years		(101	)		(921	)		(511	)
Increases in tax positions for current year		125			196			128
Settlements		—			—			—
Lapse in statute of limitations		(167	)		(492	)		(914	)
Balance at the end of the period	$	21,924		$	21,406		$	4,546

The total amount of net unrecognized tax benefits that, if recognized, would impact the Company’s effective tax rate were $22,489 and $21,319 as of January 31, 2020 and 2019, respectively. The Company accrues interest and penalties related to unrecognized tax benefits in income tax expense in the Consolidated Statements of Income, which is consistent with the recognition of these items in prior reporting periods. During the years ended January 31, 2020, 2019 and 2018, the Company recognized expense/(benefit) of $1,038, $449 and ($209), respectively, related to interest and penalties. The Company accrued $1,860 and $822 for the payment of interest and penalties as of January 31, 2020 and 2019, respectively.

The Company files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. The Company is under audit in certain foreign jurisdictions. Certain federal, foreign and state jurisdictions are subject to audit from fiscal 2010 to 2019. It is possible that a state or foreign examination may be resolved within 12 months. Due to the potential for resolution of federal and foreign audit and state examinations, and the expiration of various statutes of limitation, it is possible that the Company’s gross unrecognized tax benefits balance may change within the next 12 months by a range of zero to $3,734.