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Income Taxes (Tables) | 12 Months Ended
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Jan. 28, 2018
Income Tax Disclosure [Abstract] |
Schedule of regional income before income taxes | The Company's regional income before income taxes is as follows:
| Fiscal Year Ended
(in thousands) | January 28, 2018 |  | January 29, 2017 |  | January 31, 2016
Domestic | $ | (14,421 | ) |  | $ | (19,602 | ) |  | $ | (5,636 | )
Foreign | 74,292 |  |  | 92,662 |  |  | 26,015 |
Total | $ | 59,871 |  |  | $ | 73,060 |  |  | $ | 20,379 |
Schedule of components of income tax expense | The provision for taxes consists of the following:
| Fiscal Year Ended
(in thousands) | January 28, 2018 |  | January 29, 2017 |  | January 31, 2016
Current tax provision |  |  |  |  |
Federal | $ | 2,108 |  |  | $ | — |  |  | $ | — |
State | — |  |  | — |  |  | — |
Foreign | 13,442 |  |  | 16,034 |  |  | 8,709 |
Subtotal | 15,550 |  |  | 16,034 |  |  | 8,709 |
Deferred tax provision (benefit) |  |  |  |  |
Federal | 7,701 |  |  | 107 |  |  | 6,679 |
State | — |  |  | — |  |  | (96 | )
Foreign | (60 | ) |  | 2,258 |  |  | (6,410 | )
Subtotal | 7,641 |  |  | 2,365 |  |  | 173 |
Provision for taxes | $ | 23,191 |  |  | $ | 18,399 |  |  | $ | 8,882 |
Schedule of income tax reconciliation | The provision for taxes reconciles to the amount computed by applying the statutory federal rate to income before taxes as follows:
| Fiscal Year Ended
(in thousands) | January 28, 2018 |  | January 29, 2017 |  | January 31, 2016
Federal income tax at statutory rate | $ | 20,222 |  |  | $ | 25,571 |  |  | $ | 7,133 |
State income taxes, net of federal benefit | (159 | ) |  | — |  |  | (7 | )
Foreign taxes at rates less than federal rates | (8,698 | ) |  | (12,074 | ) |  | (62 | )
Tax credits generated | (3,278 | ) |  | (2,864 | ) |  | (3,598 | )
Changes in valuation allowance | (41,911 | ) |  | 5,578 |  |  | 1,847 |
Non-taxable gain on sale | — |  |  | (2,978 | ) |  | — |
Changes in uncertain tax positions | 1,538 |  |  | 1,047 |  |  | 1,009 |
Deemed dividends | 299 |  |  | 266 |  |  | 276 |
Equity compensation | (8,333 | ) |  | 2,553 |  |  | 2,529 |
Permanent differences | 264 |  |  | 448 |  |  | 28 |
Deferred tax provision - indefinite life intangibles | — |  |  | — |  |  | 5,670 |
Triune Earn-out | — |  |  | — |  |  | (5,670 | )
Revaluation of deferred tax assets and liabilities | — |  |  | — |  |  | 334 |
Impact of US tax reform (1) | 65,442 |  |  | — |  |  | — |
Other | (2,195 | ) |  | 852 |  |  | (607 | )
Provision for taxes | $ | 23,191 |  |  | $ | 18,399 |  |  | $ | 8,882 |
Schedule of components of deferred tax assets and liabilities | The components of the net deferred income tax assets and liabilities at January 28, 2018 and January 29, 2017 are as follows:
(in thousands) | January 28, 2018 |  | January 29, 2017
Non-current deferred tax asset: |  |  |
Deferred revenue | $ | — |  |  | $ | 6,229 |
Inventory reserve | 2,406 |  |  | 3,096 |
Bad debt reserve | 659 |  |  | 645 |
Accrued service fees | 306 |  |  | — |
Foreign tax credits | 9,987 |  |  | — |
Research credit carryforward | 11,707 |  |  | 25,770 |
NOL carryforward | 8,326 |  |  | 42,870 |
Payroll and related accruals | 7,344 |  |  | 12,556 |
Share-based compensation | 9,282 |  |  | 5,524 |
Foreign pension deferred | 477 |  |  | 727 |
Other deferred assets | 1,847 |  |  | 5,918 |
Valuation allowance | (41,050 | ) |  | (82,961 | )
Total non-current deferred tax asset | 11,291 |  |  | 20,374 |
Non-current deferred tax liabilities: |  |  |
Inventory reserve - foreign | — |  |  | — |
Goodwill and other intangibles | (5,844 | ) |  | (12,534 | )
Property, plant and equipment | (4,955 | ) |  | (7,483 | )
Repatriation of foreign earnings | (10,427 | ) |  | — |
Other non-current deferred tax liabilities | (511 | ) |  | (1,745 | )
Total non-current deferred tax liabilities | (21,737 | ) |  | (21,762 | )
Net deferred tax assets (liabilities) | $ | (10,446 | ) |  | $ | (1,388 | )
Summary of changes in the valuation allowance | Changes in the valuation allowance for the three years ended January 28, 2018 are summarized in the table below:
| Fiscal Year Ended
(in thousands) | January 28, 2018 |  | January 29, 2017 |  | January 31, 2016
Beginning balance | $ | 82,961 |  |  | $ | 77,383 |  |  | $ | 75,536 |
Additions | 74 |  |  | 5,578 |  |  | 9,055 |
Releases | (41,985 | ) |  | — |  |  | (7,208 | )
Ending balance | $ | 41,050 |  |  | $ | 82,961 |  |  | $ | 77,383 |
Schedule of gross unrecognized tax benefits | A reconciliation of the beginning and ending amount of gross unrecognized tax benefits (before federal impact of state items) is as follows:
| Fiscal Year Ended
(in thousands) | January 28, 2018 |  | January 29, 2017
Beginning balance | $ | 11,452 |  |  | $ | 10,567 |
Additions based on tax positions related to the current year | 5,789 |  |  | 1,005 |
Reductions for tax positions of prior years, net | (1,182 | ) |  | (120 | )
Ending balance | $ | 16,059 |  |  | $ | 11,452 |
Schedule of liability for uncertain tax positions | The liability for UTP is reflected on the Balance Sheets as follows:
| Fiscal Year Ended
(in thousands) | January 28, 2018 |  | January 29, 2017
Deferred tax assets - non-current | $ | 12,135 |  |  | $ | 9,309 |
Accrued liabilities | — |  |  | — |
Other long-term liabilities | 3,924 |  |  | 2,143 |
Total accrued taxes | $ | 16,059 |  |  | $ | 11,452 |

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