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Income Taxes | 12 Months Ended
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Jan. 31, 2015
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The income tax expense (benefit) for the last three years is reconciled to the statutory federal income tax rate using the liability method as follows (in thousands):
| Year ended January 31,
| 2015 |  | 2014 |  | 2013
Statutory | $ | 312 |  |  | $ | (929 | ) |  | $ | (1,373 | )
State taxes (net of federal tax) | 144 |  |  | (47 | ) |  | (124 | )
Change in valuation allowance | (248 | ) |  | (253 | ) |  | 1,480 |
State rate adjustment | (8 | ) |  | 82 |  |  | 49 |
Change in unrecognized tax benefits | (19 | ) |  | (32 | ) |  | (246 | )
Other | (112 | ) |  | 176 |  |  | 5 |
Income tax expense (benefit) | $ | 69 |  |  | $ | (1,003 | ) |  | $ | (209 | )
Significant components of the expense (benefit) for income taxes (in thousands) attributed to continuing operations are as follows:
| Year ended January 31,
| 2015 |  | 2014 |  | 2013
Current |  |  |  |  |
Federal | $ | — |  |  | $ | 1 |  |  | $ | — |
State | 35 |  |  | (24 | ) |  | (275 | )
| 35 |  |  | (23 | ) |  | (275 | )
Deferred |  |  |  |  |
Federal | 232 |  |  | (753 | ) |  | (1,192 | )
State | 48 |  |  | 23 |  |  | (223 | )
| 280 |  |  | (730 | ) |  | (1,415 | )
Change in Valuation Allowance | (246 | ) |  | (250 | ) |  | 1,481 |
| 34 |  |  | (980 | ) |  | 66 |
Income tax expense (benefit) | $ | 69 |  |  | $ | (1,003 | ) |  | $ | (209 | )
Deferred tax assets and liabilities (in thousands) are comprised of the following:
| Year ended January 31,
| 2015 |  | 2014
Deferred tax assets |  |  |
Accrued vacation and sick leave | $ | 1,003 |  |  | $ | 913 |
Retirement plans | 10,887 |  |  | 8,960 |
Insurance reserves | 830 |  |  | 956 |
Warranty | 487 |  |  | 481 |
Net operating loss carryforwards | 13,303 |  |  | 12,494 |
Intangibles | 145 |  |  | 207 |
Inventory | 1,472 |  |  | 1,590 |
Other | 595 |  |  | 907 |
| $ | 28,722 |  |  | $ | 26,508 |
Deferred tax liabilities |  |  |
Tax in excess of book depreciation | $ | (1,458 | ) |  | $ | (1,407 | )
Other | (85 | ) |  | (76 | )
| $ | (1,543 | ) |  | $ | (1,483 | )
Valuation allowance | (26,399 | ) |  | (24,210 | )
Net deferred tax asset | $ | 780 |  |  | $ | 815 |
Reported as: |  |  |
Current deferred tax assets | $ | 156 |  |  | $ | 203 |
Long-term deferred tax assets | 624 |  |  | 611 |
The following table summarizes the activity related to our gross unrecognized tax benefits from February 1, 2013 to January 31, 2015 (in thousands):
| January 31,
| 2015 |  | 2014
Balances as of February 1, | $ | 52 |  |  | $ | 106 |
Increases related to prior year tax positions | 3 |  |  | — |
Decreases related to prior year tax positions | — |  |  | (9 | )
Increases related to current year tax positions | 6 |  |  | 5 |
Decreases relating to settlements with taxing authorities | — |  |  | (19 | )
Decreases related to lapsing of statute of limitations | (25 | ) |  | (31 | )
Balance as of January 31, | $ | 36 |  |  | $ | 52 |
At January 31, 2015, the Company’s unrecognized tax benefits associated with uncertain tax positions were $36,000, of which $24,000 if recognized, would favorably affect the effective tax rate. The Company recognizes interest and penalties related to unrecognized tax benefits as a component of income tax expense which is consistent with the recognition of the items in prior reporting. The Company had recorded a liability for interest and penalties related to unrecognized tax benefits of $6,000 at January 31, 2015, and $16,000 at January 31, 2014. The Company closed its IRS examination for its tax return for the year ended January 31, 2011 with no changes. The Company is currently under IRS examination for the year ended January 31, 2013. No adjustments have been proposed. The years ended January 31, 2012 and forward remain open for examination by the IRS. The fiscal years ended January 31, 2011 and forward remain open for examination by state tax authorities. The Company is not currently under state examination. During 2014 and 2013, the Company completed Texas income tax examinations of the tax years ending January 31, 2008 and 2009, respectively. The examination did not materially impact the Consolidated Statements of Operations. The specific timing of when the resolution of each tax position will be reached is uncertain. As of January 31, 2015, it is reasonably possible that unrecognized tax benefits will decrease by $8,000 within the next 12 months due to the expiration of the statute of limitations. In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income or reversal of deferred tax liabilities during the periods in which those temporary differences become deductible. The Company considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. A valuation allowance was recorded against the majority of the net deferred tax assets totaling $26,399,000 and $24,210,000 at January 31, 2015 and 2014, respectively. At January 31, 2015, the Company had net operating loss carryforwards for federal and state income tax purposes, expiring at various dates through 2035. At January 31, 2015, the Company had federal and state net operating loss carryforwards of approximately $26,340,000 and $54,332,000, respectively.

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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 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 2: 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 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 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 Reference 6: 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 + Details
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