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Income Taxes (Tables)

12 Months Ended

Jan. 31, 2021

Income Tax Disclosure [Abstract]

Components of Income (Loss) before Income Taxes

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

		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

Components of Provision for Income Tax Expense or Benefit

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

Reasons for Differences between Company's Effective Tax Rate and Statutory U.S. Federal Income Tax Rate

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	%

Significant Components of Deferred Tax Assets and Liabilities

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

Reconciliation of Beginning and Ending Balances of Total Amounts of Gross Unrecognized Tax Benefits

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

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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