XML 60 R45.htm IDEA: XBRL DOCUMENT v3.21.1

Income Taxes (Tables)

12 Months Ended

Jan. 31, 2021

Income Tax Disclosure [Abstract]

Components of Income before Income Taxes

The components of income (loss) before income taxes are as follows:

		January 31
		2021				2020				2019
(In thousands)
Domestic		$	(1,193	)		$	1,930			$	6,859
Foreign			3,372				(560	)			449
		$	2,179			$	1,370			$	7,308

Components of Provision for Income Taxes

The components of the provision/(benefit) for income taxes are as follows:

		January 31
		2021				2020				2019
(In thousands)
Current:
Federal		$	1,272			$	660			$	1,807
State			224				221				457
Foreign			420				368				952
			1,916				1,249				3,216
Deferred:
Federal		$	(910	)		$	(1,364	)		$	(843	)
State			(189	)			(282	)			(170	)
Foreign			78				8				(625	)
			(1,021	)			(1,638	)			(1,638	)
		$	895			$	(389	)		$	1,578

Reconciliation of income tax provision/(benefit) With The Amount Computed By Applying The Statutory Federal Income Tax Rate To The Income Before Income Tax Provision/(benefit)

Total income tax provision/(benefit) differs from the expected tax provision/(benefit) as a result of the following:

		January 31
		2021				2020				2019
(In thousands)
Income Tax Provision at Statutory Rate		$	458			$	288			$	1,534
Denmark Statutory Audit			341				—				—
Foreign Rate Deferential			197				315				558
Share Based Compensation			171				(145	)			(127	)
Canada Withholding Taxes			62				—				—
State Taxes, Net of Federal Tax Effect			28				(48	)			226
Global Intangible Low Taxed Income			14				107				—
Meals and Entertainment			11				31				56
U.S. Corporate Rate Change			—				—				52
Transition Tax on Repatriated Earnings			—				—				14
Return to Provision Adjustment			(2	)			(207	)			58
Change in Reserves Related to ASC 740 Liability			(10	)			(352	)			(34	)
Change in Valuation Allowance			(81	)			256				—
R&D Credits			(157	)			(209	)			(218	)
Foreign Derived Intangible Income			(150	)			(107	)			(53	)
Foreign Tax Credits			—				(344	)			(477	)
Other			13				26				(11	)
		$	895			$	(389	)		$	1,578

Tax Effects of Temporary Differences that gave Rise to Significant Portions of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and liabilities are as follows:

		January 31
		2021				2020
(In thousands)
Deferred Tax Assets:
Inventory		$	2,700			$	2,094
Honeywell Royalty Liability			2,590				2,583
State R&D Credits			1,546				1,496
Share-Based Compensation			600				582
Bad Debt			245				165
Warranty Reserve			176				205
Compensation Accrual			159				159
Net Operating Loss			154				443
ASU 842 Adjustment—Lease Liability			125				—
Unrecognized State Tax Benefits			101				116
Foreign Tax Credit			83				113
Deferred Service Contract Revenue			68				111
Other			308				295
			8,855				8,362
Deferred Tax Liabilities:
Accumulated Tax Depreciation in Excess of Book Depreciation			752				1,002
Intangibles			399				776
ASU 842 Adjustment – Lease Liability			119				—
Other			307				188
			1,577				1,966
Subtotal			7,278				6,396
Valuation Allowance			(1,721	)			(1,752	)
Net Deferred Tax Assets		$	5,557			$	4,644

Changes in Balance of Unrecognized Tax Benefits, Excluding Interest and Penalties

		2021				2020				2019
(In thousands)
Balance at February 1		$	362			$	618			$	665
Increases in prior period tax positions			59				—				—
Increases in current period tax positions			5				2				7
Reductions related to lapse of statutes of limitations			(42	)			(26	)			(54	)
Reductions related to settlement with tax authorities			—				(232	)			—
Balance at January 31		$	384			$	362			$	618

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 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 55
-Paragraph 217
-URI http://asc.fasb.org/extlink&oid=121610041&loc=d3e36027-109320

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration