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INCOME TAXES (Tables)
12 Months Ended
Jan. 31, 2024
INCOME TAXES  
Schedule of components of company's income tax (expense) benefit

    

2024

    

2023

    

2022

Current:

Federal

$

10,870

$

12,776

$

10,921

State

 

1,835

 

1,012

 

643

Foreign

2,537

740

 

15,242

 

14,528

 

11,564

Deferred:

Federal

 

(923)

 

(803)

 

(341)

State

 

301

 

23

 

133

Foreign

1,955

(2,452)

 

1,333

 

(3,232)

 

(208)

Income tax expense

$

16,575

$

11,296

$

11,356

Schedule of actual income tax expense amounts

2024

    

2023

    

2022

Computed expected income tax expense

$

10,276

$

9,660

$

9,883

Difference resulting from:

Unrecognized tax loss benefit

3,858

Foreign tax rate differential

(2,294)

(441)

(352)

State income taxes, net of federal tax effect

 

1,688

 

860

 

614

Excess executive compensation

1,040

1,397

1,296

Adjustment to valuation for foreign NOLs

2,083

(2,574)

Net benefit related to Solar Tax Credit investments

(646)

Meals and entertainment expense

626

83

58

Research and development tax credits adjustment

6,181

Recognition of research and development tax credit benefits

(3,430)

Other permanent differences and adjustments, net

(56)

(440)

 

(143)

Income tax expense

$

16,575

$

11,296

$

11,356

Schedule of unrecognized tax benefits

    

2024

    

2023

    

2022

Unrecognized income tax benefits, beginning of fiscal year

$

2,882

$

4,937

$

4,895

Increases related to prior period income tax positions

 

78

 

 

42

Increases related to current period income tax positions

 

2,359

 

Expirations of statutes of limitations

 

(407)

 

 

Settlements

 

 

(4,414)

 

Unrecognized income tax benefits, end of fiscal year

$

2,553

$

2,882

$

4,937

Schedule of tax effects of temporary differences that gave rise to deferred tax assets and liabilities

    

2024

    

2023

Assets:

Net operating loss carryforwards

$

19,772

$

13,964

Stock awards

2,726

2,726

Accrued expenses

1,955

1,480

Lease liabilities

1,383

1,189

Research and development costs deferral

1,622

1,015

Research and development credit carryforwards

269

Other

 

148

 

337

 

27,606

 

20,980

Liabilities:

Intangibles

(3,819)

(3,674)

Property and equipment

 

(893)

 

(1,033)

Construction contracts

 

(839)

 

(1,229)

Right-of-use assets

(1,378)

(1,184)

Other

(619)

(431)

 

(7,548)

 

(7,551)

Valuation allowances

(17,799)

(9,740)

Deferred tax assets, net

$

2,259

$

3,689