v3.6.0.2

Income Taxes | 12 Months Ended
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Jan. 28, 2017
Income Tax Disclosure [Abstract] |
Income Taxes | INCOME TAXES Income tax provision consisted of the following:
| Fiscal
| 2016 |  | 2015 |  | 2014
| (in thousands)
Current: |  |  |  |  |
Federal | $ | 61,506 |  |  | $ | 64,416 |  |  | $ | 80,205 |
Foreign | 954 |  |  | 941 |  |  | 716 |
State and local | 9,149 |  |  | 9,186 |  |  | 16,832 |
Total current tax expense | 71,609 |  |  | 74,543 |  |  | 97,753 |
Deferred: |  |  |  |  |
Federal | 4,972 |  |  | 8,035 |  |  | (1,616 | )
Foreign | 674 |  |  | 817 |  |  | — |
State and local | 1,598 |  |  | 411 |  |  | 255 |
Total deferred tax expense | 7,244 |  |  | 9,263 |  |  | (1,361 | )
Income tax provision | $ | 78,853 |  |  | $ | 83,806 |  |  | $ | 96,392 |
The following presents a reconciliation of the income tax provision at the U.S. federal statutory tax rate and the total tax provision:
| Fiscal
| 2016 |  | 2015 |  | 2014
| (in thousands)
Income tax expense at federal statutory rate | $ | 71,186 |  |  | $ | 76,944 |  |  | $ | 87,297 |
State and local taxes, net of federal benefit | 7,212 |  |  | 7,847 |  |  | 8,808 |
Foreign | 802 |  |  | 1,031 |  |  | (405 | )
Other | (347 | ) |  | (2,016 | ) |  | 692 |
Income tax provision | $ | 78,853 |  |  | $ | 83,806 |  |  | $ | 96,392 |
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities are as follows:
| January 28, 2017 |  | January 30, 2016
| (in thousands)
Deferred tax assets: |  |  |
State bonus depreciation | $ | 2,989 |  |  | $ | 3,558 |
Inventory | 9,298 |  |  | 7,961 |
Construction and tenant allowances | 2,386 |  |  | 3,454 |
Stock-based compensation | 11,216 |  |  | 10,799 |
Equity earnings | 1,560 |  |  | 829 |
Gift cards | 3,928 |  |  | 3,730 |
Accrued expenses | 2,747 |  |  | 3,354 |
Accrued rewards | 4,568 |  |  | 4,016 |
Accrued rent | 18,007 |  |  | 18,212 |
Other | 3,124 |  |  | 2,847 |
| 59,823 |  |  | 58,760 |
Less: valuation allowance | (1,972 | ) |  | (1,250 | )
Total deferred tax assets, net of valuation allowance | 57,851 |  |  | 57,510 |
Deferred tax liabilities: |  |  |
Property and equipment | (31,923 | ) |  | (32,215 | )
Change in fair value of contingent consideration | (8,075 | ) |  | — |
Prepaid expenses and other | (2,919 | ) |  | (3,480 | )
Total deferred tax liabilities | (42,917 | ) |  | (35,695 | )
Net deferred tax asset | $ | 14,934 |  |  | $ | 21,815 |
We establish 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 is related to a capital loss carryforward, state income tax credits and state income tax refunds. As of January 28, 2017, U.S. taxes have not been provided on unremitted earnings of subsidiaries operating outside of the U.S. These earnings, which are considered to be invested indefinitely, would become subject to income tax if we elected 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. Changes in gross unrecognized tax benefits were as follows:
| Fiscal
| 2016 |  | 2015 |  | 2014
| (in thousands)
Unrecognized tax benefits - beginning of period | $ | 5,767 |  |  | $ | 5,073 |  |  | $ | 2,691 |
Additions for tax positions taken in the current year | 2,513 |  |  | 2,109 |  |  | 2,494 |
Reductions for tax positions taken in prior years: |  |  |  |  |
Changes in estimates | — |  |  | — |  |  | — |
Lapses of applicable statutes of limitations | (475 | ) |  | (854 | ) |  | — |
Settlements | (1,032 | ) |  | (561 | ) |  | (112 | )
Unrecognized tax benefits - end of period | $ | 6,773 |  |  | $ | 5,767 |  |  | $ | 5,073 |
As of January 28, 2017, January 30, 2016 and January 31, 2015, unrecognized tax benefits of $4.8 million, $3.9 million and $3.4 million, respectively, of the total unrecognized tax benefits would affect the effective tax rate if recognized. 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 our financial position, results of operations or cash flows. We recognize interest and penalties related to unrecognized tax benefits as a component of the income tax provision. Interest and penalties were not material for fiscal 2016, 2015 and 2014. We are no longer subject to U.S federal income tax examination for years prior to fiscal 2014 and state income tax examinations for years prior to 2011. We have various state income tax returns in the process of examination. We estimate 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=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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