XML 63 R19.htm IDEA: XBRL DOCUMENT

Income Taxes

3 Months Ended

May 02, 2015



Note 13	Income Taxes

The Company’s effective tax rate can vary considerably from period to period, depending on a number of factors. The Company’s consolidated effective tax rates were 25.9% and 34.1% for the thirteen weeks ended May 2, 2015 and May 3, 2014, respectively. The Company recognized a discrete tax benefit of $1.6 million during the quarter, following the conversion of one of its primary operating subsidiaries to a limited liability company. As a result of that conversion, the Company now projects utilizing certain operating loss carryforwards that previously had been reserved on the Company’s condensed consolidated balance sheets. Accordingly, the Company recognized a tax benefit of $1.5 million upon the reversal of valuation allowances. The Company also recognized a tax benefit of $0.1 million related to the valuation of other deferred taxes impacted by this conversion.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details