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Income Taxes (Tables) | 12 Months Ended
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Feb. 03, 2018
Income Tax Disclosure [Abstract] |
Schedule of income tax expense (benefit) | Income tax expense (benefit) is summarized as follows (in thousands):
| Year Ended |  | Year Ended |  | Year Ended
| Feb 3, 2018 |  | Jan 28, 2017 |  | Jan 30, 2016
Federal: |  |  |  |  |
Current | $ | 34,181 |  |  | $ | 8,212 |  |  | $ | 23,618 |
Deferred | 21,595 |  |  | (636 | ) |  | 4,038 |
State: |  |  |  |  |
Current | 1,903 |  |  | 2,537 |  |  | 3,864 |
Deferred | 217 |  |  | (1,000 | ) |  | (296 | )
Foreign: |  |  |  |  |
Current | 7,333 |  |  | 17,055 |  |  | 14,259 |
Deferred | 8,943 |  |  | 2,044 |  |  | (3,019 | )
Total | $ | 74,172 |  |  | $ | 28,212 |  |  | $ | 42,464 |
Schedule of differences between actual income tax expense and expected income tax expense | Actual income tax expense differs from expected income tax expense obtained by applying the statutory federal income tax rate to earnings before income taxes as follows (in thousands):
| Year Ended |  | Year Ended |  | Year Ended
| Feb 3, 2018 |  | Jan 28, 2017 |  | Jan 30, 2016
Computed “expected” tax expense | $ | 23,693 |  |  | $ | 18,763 |  |  | $ | 44,547 |
State taxes, net of federal benefit | 1,675 |  |  | 999 |  |  | 2,320 |
Non-U.S. tax expense less than federal statutory tax rate (1) | (7,396 | ) |  | (1,539 | ) |  | (6,991 | )
Tax Reform - repatriation tax adjustment (2) | 23,034 |  |  | — |  |  | — |
Tax Reform - deferred tax adjustment (2) | 24,856 |  |  | — |  |  | — |
Cumulative valuation reserve (3) | — |  |  | 6,830 |  |  | — |
Valuation reserve (4) | 9,057 |  |  | 5,841 |  |  | 3,024 |
Unrecognized tax benefit | 537 |  |  | 556 |  |  | 1,123 |
Share-based compensation (5) | 1,309 |  |  | — |  |  | — |
Net tax settlements | — |  |  | 1,894 |  |  | — |
Sale of minority interest investment | — |  |  | (2,316 | ) |  | — |
Estimated exit tax charge | — |  |  | 1,911 |  |  | — |
Prior year tax adjustments | (88 | ) |  | (1,790 | ) |  | (2,944 | )
Non-deductible permanent difference | (3,224 | ) |  | (2,284 | ) |  | 1,295 |
Other | 719 |  |  | (653 | ) |  | 90 |
Total | $ | 74,172 |  |  | $ | 28,212 |  |  | $ | 42,464 |
________________________________________________________________________
(1) | The jurisdictional location of pre-tax income (loss) may represent a significant component of the Company’s effective tax rate as income tax rates outside the U.S. are generally lower than the U.S. statutory income tax rate. Furthermore, the impact of changes in the jurisdictional location of pre-tax income (loss) on the Company’s effective tax rate will be greater at lower levels of consolidated pre-tax income (loss). These amounts exclude the impact of net changes in valuation allowances, audit and other adjustments related to the Company’s non-U.S. operations, as they are reported separately in the appropriate corresponding line items in the table above. The impact on the Company’s effective tax rate was primarily related to the Company’s Swiss and Korean subsidiaries which have jurisdictional effective tax rates which range from 8% to 20% lower than the U.S. rates in effect for the periods presented.
(2) | During fiscal 2018, the Company recognized additional tax expense resulting from the enactment of the Tax Reform to account for the estimated effects of the transitional tax on the deemed repatriation of foreign earnings and reduced deferred tax assets due to lower future U.S. corporate tax rates.
(3) | Amounts represent valuation reserves resulting from jurisdictions where there have been cumulative net operating losses, limiting the Company’s ability to consider other subjective evidence to continue to recognize the existing deferred tax assets.
(4) | Amounts relate primarily to valuation reserves on non-cumulative net operating losses or other deferred tax assets arising during the respective period.
(5) | During fiscal 2018, the Company adopted authoritative guidance which requires all income tax effects of stock awards (resulting from an increase or decrease in the fair value of an award from grant date to the vesting date) to be recognized in the income statement when the awards vest or are settled. This is a change from previous guidance that required such activity to be recorded in paid-in capital within stockholders’ equity.
Schedule of allocation of total income tax expense (benefit) | Total income tax expense (benefit) is allocated as follows (in thousands):
| Year Ended |  | Year Ended |  | Year Ended
| Feb 3, 2018 |  | Jan 28, 2017 |  | Jan 30, 2016
Operations (1) | $ | 74,172 |  |  | $ | 28,212 |  |  | $ | 42,464 |
Stockholders’ equity (1) | (3,173 | ) |  | 1,782 |  |  | 4,668 |
Total income tax expense | $ | 70,999 |  |  | $ | 29,994 |  |  | $ | 47,132 |
________________________________________________________________________
(1) | During fiscal 2018, the Company adopted authoritative guidance which requires all income tax effects of stock awards (resulting from an increase or decrease in the fair value of an award from grant date to the vesting date) to be recognized in the income statement when the awards vest or are settled. This is a change from previous guidance that required such activity to be recorded in paid-in capital within stockholders’ equity. As a result, the Company recorded tax shortfalls of approximately $1.3 million in the Company’s income tax expense during fiscal 2018.
Schedule of tax effects of the components of other comprehensive income (loss) | The tax effects of the components of other comprehensive income (loss) are allocated as follows (in thousands):
| Year Ended |  | Year Ended |  | Year Ended
| Feb 3, 2018 |  | Jan 28, 2017 |  | Jan 30, 2016
Derivative financial instruments designated as cash flow hedges | $ | (2,738 | ) |  | $ | (864 | ) |  | $ | 559 |
Marketable securities | — |  |  | 6 |  |  | (7 | )
Defined benefit plans | (435 | ) |  | (21 | ) |  | 2,972 |
Total income tax expense (benefit) (1) | $ | (3,173 | ) |  | $ | (879 | ) |  | $ | 3,524 |
________________________________________________________________________
(1) | During the fourth quarter of fiscal 2018, the Company early adopted authoritative guidance which addresses certain stranded income tax effects in accumulated other comprehensive income (loss) resulting from the Tax Reform enacted in December 2017. As a result, the Company recorded a cumulative adjustment to increase retained earnings by $1.2 million with a corresponding reduction to accumulated other comprehensive income (loss) related to the Company’s Supplemental Executive Retirement Plan and its interest rate swap designated as a cash flow hedge based in the U.S. The impact from this reclassification on accumulated other comprehensive income (loss) has been excluded from the amounts provided in this table.
Schedule of total earnings before income tax expense and noncontrolling interests | Total earnings before income tax expense and noncontrolling interests are comprised of the following (in thousands):
| Year Ended |  | Year Ended |  | Year Ended
| Feb 3, 2018 |  | Jan 28, 2017 |  | Jan 30, 2016
Domestic operations | $ | 39,112 |  |  | $ | 32,944 |  |  | $ | 90,141 |
Foreign operations | 31,159 |  |  | 20,666 |  |  | 37,138 |
Earnings before income tax expense and noncontrolling interests | $ | 70,271 |  |  | $ | 53,610 |  |  | $ | 127,279 |
Schedule of tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities | The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities as of February 3, 2018 and January 28, 2017 are presented below (in thousands):
| Feb 3, 2018 |  | Jan 28, 2017
Deferred tax assets: |  |  |
Net operating losses | 19,859 |  |  | 13,524 |
Defined benefit plans | 13,155 |  |  | 20,642 |
Deferred compensation | 10,721 |  |  | 12,987 |
Excess of book over tax depreciation/amortization | 10,704 |  |  | 9,018 |
Rent expense | 7,651 |  |  | 13,672 |
Deferred income | 7,141 |  |  | 6,213 |
Bad debt reserve | 2,529 |  |  | 2,124 |
Lease incentives | 1,814 |  |  | 5,545 |
Uniform capitalization | 974 |  |  | 1,900 |
Other | 30,703 |  |  | 28,265 |
Total deferred tax assets | 105,251 |  |  | 113,890 |
Deferred tax liabilities: |  |  |
Goodwill amortization | (2,303 | ) |  | (3,654 | )
Excess of tax over book depreciation/amortization | (135 | ) |  | (189 | )
Other | (4,517 | ) |  | (4,544 | )
Valuation allowance | (32,601 | ) |  | (23,255 | )
Net deferred tax assets (1) | $ | 65,695 |  |  | $ | 82,248 |
__________________________________________________________________
(1) | As of February 3, 2018, amount includes net deferred tax liabilities of $2.7 million recorded in other long-term liabilities in the Company’s consolidated balance sheet. There were $0.5 million net deferred tax liabilities recorded in other long-term liabilities in the Company’s consolidated balance sheet at January 28, 2017.
Schedule of changes that occurred in the amount of gross unrecognized tax benefit excluding interest and penalties | A reconciliation of the beginning and ending amount of gross unrecognized tax benefit (excluding interest and penalties) is as follows (in thousands):
| Year Ended |  | Year Ended |  | Year Ended
| Feb 3, 2018 |  | Jan 28, 2017 |  | Jan 30, 2016
Beginning balance | $ | 12,983 |  |  | $ | 12,585 |  |  | $ | 13,640 |
Additions: |  |  |  |  |
Tax positions related to the prior year | 4,436 |  |  | 672 |  |  | 496 |
Tax positions related to the current year | 222 |  |  | 106 |  |  | 1,516 |
Reductions: |  |  |  |  |
Tax positions related to the prior year | (356 | ) |  | (380 | ) |  | (1,650 | )
Tax positions related to the current year | (309 | ) |  | — |  |  | (359 | )
Settlements | — |  |  | — |  |  | (505 | )
Expiration of statutes of limitation | (205 | ) |  | — |  |  | (553 | )
Ending balance | $ | 16,771 |  |  | $ | 12,983 |  |  | $ | 12,585 |

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