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Valuation and Qualifying Accounts | 12 Months Ended
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Feb. 03, 2018
Valuation and Qualifying Accounts |
Valuation and Qualifying Accounts | (10) Valuation and Qualifying Accounts The following table summarizes the allowances for inventory shrinkage and deferred tax assets (in thousands):
|  | Allowance for |  | Allowance for |
|  | Inventory |  | Deferred Tax |
|  | Shrinkage |  | Assets |
Balance as of January 31, 2015 |  | $ | 2,646 |  | $ | 1,272 |
Additions charged to costs and expenses |  |  | 7,873 |  |  | — |
Deductions |  |  | (7,935) |  |  | — |
Balance as of January 30, 2016 |  |  | 2,584 |  |  | 1,272 |
Additions charged to costs and expenses |  |  | 9,351 |  |  | — |
Deductions |  |  | (8,836) |  |  | — |
Balance as of January 28, 2017 |  |  | 3,099 |  |  | 1,272 |
Additions charged to costs and expenses |  |  | 11,103 |  |  | 79 |
Impact of tax reform |  |  | — |  |  | 273 |
Deductions |  |  | (10,698) |  |  | — |
Balance as of February 3, 2018 |  | $ | 3,504 |  | $ | 1,624 |
For the allowance for inventory shrinkage, additions charged to costs and expenses are the result of estimated inventory shrinkage, while deductions represent actual inventory shrinkage incurred from physical inventories taken during the fiscal year. For the deferred tax asset valuation allowance, additions charged to costs and expenses represent the establishment of a valuation allowance when management determines that its ability to utilize certain tax credits included in deferred tax assets is no longer more likely than not. In fiscal 2017, the Company revalued its deferred tax assets and liabilities to reflect the reduced federal income tax rate expected to be in effect at the time of future reversals including the future utilization of tax credits. Such reduction was the result of the Tax Cuts and Jobs Act tax reform legislation enacted in December 2017 which reduced the federal statutory rate from 35% to 21%. The revaluation necessitated an increase in the valuation allowance related to the future realization of state income tax credits due to the reduction of the associated federal income tax benefit.

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- Definition The entire disclosure for any allowance and reserve accounts (their beginning and ending balances, as well as a reconciliation by type of activity during the period). Alternatively, disclosure of the required information may be within the footnotes to the financial statements or a supplemental schedule to the financial statements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 + Details
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- References No definition available. + Details
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