NOTE 10 – INCOME TAXES

Our effective income tax rates for the three months ended January 29, 2016 and January 30, 2015 are as follows:



	Three Months Ended
	January 29, 2016		January 30, 2015
Effective Tax Rate	25.8	%	26.8	%

The lower first quarter 2016 effective tax rate was primarily driven by favorable foreign tax rate changes, recognition of U.S. foreign tax credits in fiscal year 2016, and the permanent extension of the U.S. Research and Development Tax Credit, partially offset by unfavorable changes in the geographic mix of earnings.

At October 30, 2015, we had a $15,600 liability recorded for gross unrecognized tax benefits (excluding interest and penalties). Of this total, $13,668 represents the amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate. We recognize interest and penalties related to unrecognized tax benefits in income tax expense. As of October 30, 2015, we had accrued approximately $4,243 of interest and penalties relating to unrecognized tax benefits. There were no material adjustments to our recorded liability for unrecognized tax benefits or interest and penalties during the first quarter of fiscal years 2016 or 2015.