XML 170 R30.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Jan. 31, 2024
INCOME TAXES |
Schedule of Income Tax Expense (Benefit) |
|  | Years Ended |
|  | January 31, |
Domestic and Foreign Pretax Income (Loss) |  | 2024 |  |  | 2023 |
Domestic |  | $ | 8,648 |  |  | $ | 15,322 |
Foreign |  |  | 708 |  |  |  | (9,851 | )
Total |  | $ | 9,356 |  |  | $ | 5,471 |
|  | Years Ended |
|  | January 31, |
|  | 2024 |  |  | 2023 |
Income Tax Expense (Benefit) |  |  |  |  |  |
Current: |  |  |  |  |  |
Federal |  | $ | 17 |  |  | $ | 2 |
State and other taxes |  |  | 58 |  |  |  | 68 |
Foreign |  |  | 4,674 |  |  |  | 3,450 |
Total Current Tax Expense |  | $ | 4,749 |  |  | $ | 3,520 |
Deferred: |  |  |  |  |  |  |  |
Domestic |  | ($186) |  |  | ($756) |
Foreign |  |  | (633 | ) |  |  | 834 |
Total Deferred Tax Expense |  |  | (819 | ) |  | $ | 78 |
Total Income Taxes |  | $ | 3,930 |  |  | $ | 3,598 |
Schedule of effective income tax rate reconciliation |
|  | Years Ended January 31, |
|  | 2024 |  |  | 2023 |
Statutory rate |  |  | 21.00 | % |  |  | 21.00 | %
State Income Taxes, Net of Federal Tax Benefit |  |  | 0.49 | % |  |  | 0.05 | %
Adjustment to Deferred |  |  | (23.26 | )% |  |  | 13.54 | %
GILTI |  |  | 9.07 | % |  |  | 24.84 | %
Foreign Tax Credit – GILTI |  |  | (2.42 | )% |  |  | (14.86 | )%
Section 250 Deduction |  |  | (4.92 | )% |  |  | (15.74 | )%
Permanent Differences |  |  | 0.20 | % |  |  | 0.07 | %
Valuation Allowance-Deferred Tax Asset |  |  | 33.29 | % |  |  | 6.41 | %
Foreign Tax Credit |  |  | (15.24 | )% |  |  | (9.74 | )%
Section 78 Gross-up |  |  | 0.77 | % |  |  | 6.64 | %
Argentina Flow Through Loss |  |  | 7.20 | % |  |  | 1.09 | %
Withholding Taxes |  |  | 5.72 | % |  |  | 36.55 | %
Foreign Rate Differential |  |  | 18.25 | % |  |  | 2.11 | %
Change in State Apportionment Rate |  |  | (1.48 | )% |  |  | (1.38 | )%
Foreign employee benefits |  |  | (1.58 | )% |  |  | (3.58 | )%
Foreign Dividends Paid to U.S. |  |  | 25.69 | % |  |  | 73.01 | %
Foreign Dividends Received Deduction |  |  | (25.69 | )% |  |  | (73.01 | )%
Earnout Adjustment |  |  | (5.70 | )% |  |  | --- |
Other |  |  | 0.62 | % |  |  | (1.25 | )%
Effective Rate |  |  | 42.01 | % |  |  | 65.74 | %
Schedule of deferred tax assets |
|  | Years Ended January 31, |
|  | 2024 |  |  | 2023 |
Deferred tax assets: |  |  |  |  |  |
Inventories |  | $ | 1,545 |  |  | $ | 1,147 |
US tax loss carryforwards, including work opportunity credit |  |  | 167 |  |  |  | 186 |
Accounts receivable and accrued rebates |  |  | 295 |  |  |  | 278 |
Accrued compensation and other |  |  | 441 |  |  |  | 123 |
India reserves - US deduction |  |  | 24 |  |  |  | 22 |
Equity based compensation |  |  | 346 |  |  |  | 1,178 |
Foreign tax credit carry-forward |  |  | 4,548 |  |  |  | 3,123 |
State and local carry-forwards |  |  | 1,256 |  |  |  | 18 |
Depreciation and amortization |  |  | (1,846 | ) |  |  | (155 | )
Prepaid expenses |  |  | (253 | ) |  |  | (175 | )
Right-of-use asset |  |  | (1,590 | ) |  |  | (697 | )
Operating lease liability |  |  | 1,672 |  |  |  | 732 |
Foreign carry-forwards |  |  | 1,102 |  |  |  | 438 |
Withholding taxes |  |  | (383 | ) |  |  | (769 | )
Other |  |  | 351 |  |  |  | 107 |
Deferred tax asset |  |  | 7,675 |  |  |  | 5,556 |
Less valuation allowance |  |  | (6,675 | ) |  |  | (3,561 | )
Net deferred tax asset |  | $ | 1,000 |  |  | $ | 1,995 |
Schedule of Balance sheet classification |
|  | January 31, |
Balance sheet classification |  | 2024 |  |  | 2023 |
Long-term deferred tax asset |  | $ | 3,097 |  |  | $ | 2,764 |
Long-term deferred tax liability |  | $ | 2,097 |  |  | $ | 769 |
Schedule of income tax benefit carryforward |
|  | Gross Carryforward |  |  | Benefit Amount |  |  | Valuation Allowance |  |  | Expiration Beginning In |
State operating loss carryforwards |  | $ | 20,132 |  |  | $ | 1,256 |  |  | $ | (1,025 | ) |  | 2028 |
Foreign tax credit carryforwards |  |  |  |  |  |  | 4,548 |  |  |  | (4,548 | ) |  | 2025 |
Federal credit carryforwards |  |  |  |  |  |  | 167 |  |  |  | - |  |  | 2035 |
Mexico operating loss carryforwards |  | $ | 1,199 |  |  |  | 360 |  |  |  | (360 | ) |  | 2033 |
Chile operating loss carryforwards |  | $ | 2,414 |  |  |  | 652 |  |  |  | (652 | ) |  | Indefinite |
UK operating loss carryforwards |  | $ | 361 |  |  |  | 90 |  |  |  | (90 | ) |  | Indefinite |
Total |  |  |  |  |  | $ | 7,073 |  |  | $ | (6,675 | ) |  |  |

X
- References No definition available. + Details
Name: | lake_ScheduleOfIncomeTaxBenefitCarryforwardtabletextblock
Namespace Prefix: | lake_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (d)(5) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration