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Income Taxes | 9 Months Ended
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Oct. 29, 2017
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The Company’s effective tax rate differs from the statutory federal income tax rate of 35% due primarily to regional mix of income, valuation allowances in the U.S., and certain undistributed foreign earnings for which no U.S. taxes are provided because such earnings are intended to be indefinitely reinvested outside of the U.S. The Company uses a two-step approach to recognize and measure uncertain tax positions ("UTP"). The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:
(in thousands) |
Balance at January 29, 2017 | $ | 11,452 |
Additions based on tax positions related to the current year | 590 |
Reductions for issue resolutions | (990 | )
Balance as of October 29, 2017 | $ | 11,052 |
Included in the balance of gross unrecognized tax benefits at October 29, 2017 and January 29, 2017, are $8.9 million and $9.3 million of net tax benefits (after federal impact of state items), respectively, that, if recognized, would impact the effective tax rate, prior to consideration of any required valuation allowance. The liability for UTP is reflected within the Balance Sheets as follows:
(in thousands) | October 29, 2017 |  | January 29, 2017
Deferred tax assets - non-current | $ | 9,782 |  |  | $ | 9,309 |
Other long-term liabilities | 1,270 |  |  | 2,143 |
Total accrued taxes | $ | 11,052 |  |  | $ | 11,452 |
The Company’s policy is to include net interest and penalties related to unrecognized tax benefits within the "Provision for taxes" in the Statements of Income. The Company had approximately $0.3 million of net interest and penalties accrued at both October 29, 2017 and January 29, 2017, respectively. Tax years prior to 2012 (the Company’s fiscal year 2013) are generally not subject to examination by the U.S. Internal Revenue Service ("IRS") except for items involving tax attributes that have been carried forward to tax years whose statute of limitations remains open. For state returns, the Company is generally not subject to income tax examinations for calendar years prior to 2012 (the Company’s fiscal year 2013). The Company has a significant tax presence in Switzerland for which Swiss tax filings have been examined through fiscal year 2016. The Company is also subject to routine examinations by various foreign tax jurisdictions in which it operates. The Company’s regional income from continuing operations before taxes and equity in net losses of equity method investments is as follows:
| Three Months Ended |  | Nine Months Ended
(in thousands) | October 29, 2017 |  | October 30, 2016 |  | October 29, 2017 |  | October 30, 2016
Domestic | $ | (2,366 | ) |  | $ | 937 |  |  | $ | (11,396 | ) |  | $ | (13,048 | )
Foreign | 19,180 |  |  | 35,582 |  |  | 60,447 |  |  | 75,114 |
Total | $ | 16,814 |  |  | $ | 36,519 |  |  | $ | 49,051 |  |  | $ | 62,066 |

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32718-109319 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
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