	Fiscal Year Ended January 31,
	2021			2020		2019
Domestic	$	13,103		$	233,742	$	336,823
Foreign		(9,590	)		5,978		48,730
	$	3,513		$	239,720	$	385,553

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

	Fiscal Year Ended January 31,
	2021			2020			2019
Current:
Federal	$	11,623		$	50,507		$	71,520
State		894			13,525			18,088
Foreign		4,030			6,141			9,356
	$	16,547		$	70,173		$	98,964
Deferred:
Federal	$	(7,801	)	$	(3,260	)	$	(6,818	)
State		(3,325	)		(772	)		965
Foreign		(3,144	)		5,483			(5,561	)
		(14,270	)		1,451			(11,414	)
	$	2,277		$	71,624		$	87,550

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,
	2021			2020			2019
Expected provision at statutory U.S. federal tax rate		21.0	%		21.0	%		21.0	%
State and local income taxes, net of federal tax benefit		(88.1	)		4.2			3.9
Foreign taxes		56.9			4.0			(1.5	)
Net impact of U.S. tax reform		—			—			0.3
Uncertain impact of U.S. tax reform		28.8			0.5			0.1
Stock compensation		36.1			0.2			(0.6	)
Tax rate changes		8.5			0.1			0.5
Prior year adjustments		15.7			(0.3	)		(0.4	)
Federal tax credits		(16.0	)		(0.2	)		(0.1	)
Nondeductible expenses		8.6			0.2			0.1
Tax exempt income		(3.4	)		—			—
Other		(3.3	)		0.2			(0.6	)
Effective tax rate		64.8	%		29.9	%		22.7	%

The variance in percentages for the components of the effective tax rate for fiscal 2021 as compared to fiscal 2020 and 2019 are primarily due to the ratio of foreign taxable losses to global taxable profits and lower income before income taxes in fiscal 2021.

The significant components of deferred tax assets and liabilities as of January 31, 2021 and 2020 are as follows:

	January 31,
	2021			2020
Deferred tax liabilities:
Prepaid expense	$	(2,191	)	$	(2,393	)
Depreciation		(34,476	)		(32,311	)
Operating lease right-of-use assets		(250,292	)		(260,706	)
Other temporary differences		(906	)		(1,129	)
Gross deferred tax liabilities		(287,865	)		(296,539	)
Deferred tax assets:
Operating lease liabilities		296,413			310,209
Deferred rent		6,685			—
Inventory		18,279			11,436
Accounts receivable		1,930			1,475
Net operating loss carryforwards		11,359			4,547
Tax uncertainties		1,611			1,336
Accrued salaries and benefits		16,711			17,534
Income tax credits		4,494			4,511
Other temporary differences		15,548			10,050
Gross deferred tax assets, before valuation allowances		373,030			361,098
Valuation allowances		(18,689	)		(13,459	)
Net deferred tax assets	$	66,476		$	51,100

Net deferred tax assets are attributed to the jurisdictions in which the Company operates. As of January 31, 2021 and 2020, respectively, $34,037 and $25,972 were attributable to U.S. federal, $19,084 and $15,858 were attributed to state jurisdictions and $13,355 and $9,270 were attributed to foreign jurisdictions.

As of January 31, 2021, certain non-U.S. subsidiaries of the Company had net operating loss carryforwards for tax purposes of approximately $6,753 that expire from 2021 through 2031 and approximately $30,695 that do not expire. Certain U.S. subsidiaries of the Company had state net operating loss carryforwards for tax purposes of approximately $29,696 that expire from 2021 through 2041 and approximately $17,122 that do not expire. Certain U.S. subsidiaries of the Company had state credit carryforwards for tax purposes of approximately $5,996 that expire from 2021 through 2031. As of January 31, 2021, the Company had full and partial valuation allowances for certain foreign and state 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, 2021, approximately $216,952 of cash and cash equivalents were held by the Company’s non-U.S. subsidiaries for which no deferred taxes have been provided. The Company has accumulated undistributed earnings generated by foreign subsidiaries of approximately $379,089. Since such earnings have previously been subject to the one-time deemed repatriation transition tax required by the U.S. Tax Cuts and Jobs Act or other U.S. tax requirements on undistributed foreign earnings, any additional taxes due with respect to such earnings or the excess of the amount for financial reporting over the tax basis of our foreign investments would generally be limited to foreign and state taxes. The Company continues to believe that certain foreign earnings are indefinitely reinvested and expects future U.S. cash generation to be sufficient to meet future U.S. cash needs.

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	2021			2020			2019
Balance at the beginning of the period	$	21,924		$	21,406		$	4,546
Increases in tax positions for prior years		476			661			18,077
Decreases in tax positions for prior years		(51	)		(101	)		(921	)
Increases in tax positions for current year		41			125			196
Settlements		—			—			—
Lapse in statute of limitations		(131	)		(167	)		(492	)
Balance at the end of the period	$	22,259		$	21,924		$	21,406

The total amount of net unrecognized tax benefits that, if recognized, would impact the Company’s effective tax rate were $23,497 and $22,489 as of January 31, 2021 and 2020, 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, 2021, 2020 and 2019, the Company recognized expense/(benefit) of $950, $1,038 and $449, respectively, related to interest and penalties. The Company accrued $2,810 and $1,860 for the payment of interest and penalties as of January 31, 2021 and 2020, 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 2020. 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 $4,117.