Income Taxes (Tables)

12 Months Ended

Jan. 31, 2017

The deferred tax assets and liabilities consisted of the following:



	January 31,
(in thousands)	2017			2016
Deferred tax assets:
Allowance for doubtful accounts	$	64,642		$	57,585
Deferred rent	9,185			7,479
Deferred gains on sale-leaseback transactions	3,014			3,295
Deferred revenue	1,695			4,168
Inventories	3,568			3,494
Stock-based compensation	1,840			1,845
State net operating loss carryforwards	992			1,324
State margin tax	1,039			1,008
Other	5,255			3,422
Total deferred tax assets	91,230			83,620
Deferred tax liabilities:
Sales tax receivable	(7,481		)	(9,316		)
Property and equipment	(10,319		)	(1,717		)
Other	(1,988		)	(2,368		)
Total deferred tax liabilities	(19,788		)	(13,401		)
Net deferred tax asset	$	71,442		$	70,219

Components of provision (benefit) for income taxes

Provision for income taxes consisted of the following:



	Year ended January 31,
(in thousands)	2017			2016			2015
Current:
Federal	$	(11,251	)	$	32,820		$	54,959
State	3,519			2,242			2,570
Total current	(7,732		)	35,062			57,529
Deferred:
Federal	(1,435		)	(16,032		)	(23,712		)
State	212			(642		)	(1,828		)
Total deferred	(1,223		)	(16,674		)	(25,540		)
Provision for income taxes	$	(8,955	)	$	18,388		$	31,989

Reconciliation of tax provision at statutory rate

A reconciliation of the (benefit) provision for income taxes at the U.S. federal statutory tax rate and the total tax (benefit) provision for each of the periods presented in the statements of operations follows:



	Year ended January 31,
(in thousands)	2017			2016			2015
Income tax (benefit) provision at U.S. federal statutory rate	$	(12,081	)	$	17,235		$	31,676
State income taxes, net of federal benefit	2,363			1,180			1,893
Change in valuation allowance	—			—			(2,180		)
Deferred tax adjustment	771			—			—
Other	(8		)	(27		)	600
	$	(8,955	)	$	18,388		$	31,989