XML 24 R17.htm IDEA: XBRL DOCUMENT v3.25.1
Income Taxes
 3 Months Ended
May 03, 2025
Income Tax Disclosure [Abstract]  
Income Taxes

8. Income Taxes

The Company's income tax provision for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items, if any. Each quarter, the Company updates its estimate of the annual effective tax rate and makes a year-to-date adjustment to the provision.

For the first three months of fiscal 2025 and 2024, the Company’s effective tax rate was 39.7% and 30.4%, respectively. The increase in the effective tax rate for the first quarter of fiscal 2025, as compared to the first quarter of fiscal 2024, was primarily due to permanent book-to-tax differences. While in dollars, these permanent book-to-tax differences are down, the impact as a percentage of our estimated annual pretax income is greater.