v3.3.1.900

Income Taxes | 12 Months Ended
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Jan. 30, 2016
Income Tax Disclosure [Abstract] |
Income Taxes | INCOME TAXES Income Tax Provision- The following table presents the composition of the provision for income taxes for continuing operations for the periods presented:
| Fiscal year ended
| January 30, 2016 |  | January 31, 2015 |  | February 1, 2014
Current: | (in thousands)
Federal | $ | 64,416 |  |  | $ | 80,205 |  |  | $ | 36,407 |
Foreign | 941 |  |  | 716 |  |  | 22 |
State and local | 9,186 |  |  | 16,832 |  |  | 14,671 |
Total current tax expense | 74,543 |  |  | 97,753 |  |  | 51,100 |
Deferred: |  |  |  |  |
Federal | 8,035 |  |  | (1,616 | ) |  | 42,557 |
Foreign | 817 |  |  | — |  |  | — |
State and local | 411 |  |  | 255 |  |  | (1,098 | )
Total deferred tax expense | 9,263 |  |  | (1,361 | ) |  | 41,459 |
Income tax provision | $ | 83,806 |  |  | $ | 96,392 |  |  | $ | 92,559 |
Rate Reconciliation- The following table presents a reconciliation of the expected income taxes for continuing operations based upon the statutory federal income tax rate:
| Fiscal year ended
| January 30, 2016 |  | January 31, 2015 |  | February 1, 2014
| (in thousands)
Income tax expense at federal statutory rate | $ | 76,944 |  |  | $ | 87,297 |  |  | $ | 85,402 |
State and local taxes-net | 7,847 |  |  | 8,808 |  |  | 8,532 |
Foreign | 1,031 |  |  | (405 | ) |  | (16 | )
Other | (2,016 | ) |  | 692 |  |  | (1,359 | )
Income tax provision | $ | 83,806 |  |  | $ | 96,392 |  |  | $ | 92,559 |
| January 30, 2016 |  | January 31, 2015
| (in thousands)
Deferred tax assets: |  |  |
State net operating loss and tax credits | $ | 571 |  |  | $ | 701 |
Inventory | 7,961 |  |  | 7,562 |
Construction and tenant allowances | 3,454 |  |  | 6,074 |
Stock-based compensation | 10,799 |  |  | 9,624 |
Benefit from uncertain tax positions | 85 |  |  | 100 |
Guarantees | 4 |  |  | 1,185 |
Accrued expenses | 2,495 |  |  | 1,890 |
Accrued rewards | 4,016 |  |  | 5,918 |
Accrued rent | 15,063 |  |  | 15,395 |
Other | 14,312 |  |  | 14,317 |
Total deferred tax assets, gross of valuation allowance | 58,760 |  |  | 62,766 |
Less: valuation allowance | (1,250 | ) |  | (1,246 | )
Total deferred tax assets, net of valuation allowance | 57,510 |  |  | 61,520 |
Deferred tax liabilities: |  |  |
Property and equipment | (32,215 | ) |  | (27,236 | )
Prepaid expenses | (1,024 | ) |  | (1,113 | )
Other | (2,456 | ) |  | (2,092 | )
Total deferred tax liabilities | (35,695 | ) |  | (30,441 | )
Total – net deferred tax asset | $ | 21,815 |  |  | $ | 31,079 |
The federal net operating loss and state net operating loss and tax credits were fully utilized in 2013. The Company establishes valuation allowances for deferred tax assets when the amount of expected future taxable income is not likely to support the use of the deduction or credit. The valuation allowance as of January 30, 2016 is related to a capital loss carryforward, federal and state income tax credits and state income tax refunds. The valuation allowance as of January 31, 2015 was related to a capital loss carryforward and state income tax credits. As of January 30, 2016, U.S. taxes have not been provided on unremitted earnings of subsidiaries operating outside of the United States. These earnings, which are considered to be invested indefinitely, would become subject to income tax if the Company elects to distribute these foreign earnings in the future. Determination of the amount of unrecognized deferred U.S. income tax liability on these unremitted earnings is not practicable because such liability, if any, is dependent on circumstances existing if and when remittance occurs. Uncertain Tax Positions- As of January 30, 2016, January 31, 2015 and February 1, 2014, unrecognized tax benefits of $3.9 million, $3.4 million and $1.8 million, respectively, of the total unrecognized tax benefits would affect the effective tax rate if recognized. The following table presents the reconciliation of the beginning and ending amount of unrecognized tax benefits as of the periods presented:
| January 30, 2016 |  | January 31, 2015 |  | February 1, 2014
| (in thousands)
Beginning balance | $ | 3,386 |  |  | $ | 1,838 |  |  | $ | 1,253 |
Additions for tax positions taken in the current year | 1,511 |  |  | 1,621 |  |  | 1,184 |
Reductions for tax positions taken in prior years: |  |  |  |  |  |  |
Changes in judgment | — |  |  | — |  |  | (69 | )
Lapses of applicable statutes of limitations | (644 | ) |  | — |  |  | (530 | )
Settlements during the year | (365 | ) |  | (73 | ) |  | — |
Ending balance | $ | 3,888 |  |  | $ | 3,386 |  |  | $ | 1,838 |
While it is expected that the amount of unrecognized tax benefits will change in the next 12 months, any changes are not expected to have a material impact on the Company's financial position, results of operations or cash flows. As of January 30, 2016 and January 31, 2015, $0.6 million and $0.5 million, respectively, was accrued for the payment of interest and penalties. DSW Inc. is no longer subject to U.S federal income tax examination and state income tax examinations for years prior to 2011. DSW Inc. estimates the range of possible changes that may result from any current and future tax examinations to be insignificant at this time.

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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=6907707&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=6907707&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=6907707&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=6907707&loc=d3e32537-109319 + Details
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