XML 65 R16.htm IDEA: XBRL DOCUMENT v3.20.1
Income Taxes
3 Months Ended
Apr. 30, 2020
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
For the three months ended April 30, 2020 and 2019, our effective tax rates were 4.8% and 5.0%, respectively. During the three months ended April 30, 2020 as compared to the prior year period, our effective tax rate decreased primarily due to the increase in excess tax benefits related to equity compensation, partially offset by reduced tax credits. We recognized such excess tax benefits in our provision for income taxes of $20 million and $14 million for the three months ended April 30, 2020 and 2019, respectively.
In addition, in response to the economic impact of the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), was signed into law on March 27, 2020. We have determined that the CARES Act did not have a material impact on our provision for income taxes for the three months ended April 30, 2020, and we do not expect it to have a material impact on our provision for income taxes for the year ending January 31, 2021.