Income Taxes

6 Months Ended

Aug. 03, 2025

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

Our provision for income tax primarily reflects taxes on international operations and U.S. income taxes. The difference between the income tax provision that would be derived by applying the statutory rate to our income before provision for income taxes and the income tax provision recorded was primarily attributable to our valuation allowance on U.S. deferred tax assets, research and development credits, U.S. taxes on foreign income, and stock-based compensation expense.

At the end of the second quarter of fiscal 2026, there were no material changes to either the nature or the amounts of the uncertain tax positions previously determined for fiscal 2025.

In July 2025, the One Big Beautiful Bill Act (OBBBA) was enacted in the United States. The OBBBA makes permanent certain provisions of the Tax Cuts and Jobs Act and includes modifications to the international tax framework. Among other changes, OBBBA eliminates the requirement to capitalize domestic research and development expenses under Internal Revenue Code Section 174, which lowered our U.S. taxable income and provision for income taxes for the second quarter of fiscal 2026. We continue to evaluate the potential future effects on our effective tax rate, cash tax liabilities, and deferred tax balances.