Income Taxes (Tables)

12 Months Ended

Feb. 03, 2018

The components of income tax expense for fiscal years 2017, 2016 and 2015 were as follows (in thousands):



	Fiscal Year Ended
	February 3, 2018		January 28, 2017			January 30, 2016
Current:
Federal	$	6,236	$	7,939		$	7,614
State	1,304		1,602			1,439
	7,540		9,541			9,053
Deferred:
Federal	2,436		(1,121		)	1,105
State	533		(82		)	449
	2,969		(1,203		)	1,554
Total income tax expense	$	10,509	$	8,338		$	10,607

Reconciliation of Income Tax Expense to Amount Computed At Federal Statutory Rate

A reconciliation of income tax expense to the amount computed at the federal statutory rate for fiscal years 2017, 2016 and 2015 is as follows (in thousands):



	Fiscal Year Ended
	February 3, 2018			January 28, 2017			January 30, 2016
Federal taxes at statutory rate	$	8,529		$	6,913		$	6,352
State and local income taxes, net of federal benefit	1,216			988			1,098
Tax reform impact	491			—			—
Stock compensation discrete items (1)	231			558			2,592
Return to provision adjustments	124			(40		)	130
Other	(82		)	(81		)	435
Total income tax expense	$	10,509		$	8,338		$	10,607

(1)

This amount includes the impact of discrete items related to the expiration of stock options, exercises of stock options and the settlement of restricted stock units that are recorded to income tax expense which represents stock-based compensation cost previously recognized by us that was greater than the deduction allowed for income tax purposes based on the price of our common stock on the date of expiration, exercise or vesting.

Significant Components of Deferred Tax Assets and Liabilities

operations. Significant components of deferred tax assets and liabilities as of February 3, 2018 and January 28, 2017 were as follows (in thousands):



	February 3, 2018			January 28, 2017
Deferred tax assets:
Deferred rent	$	3,523		$	5,343
Stock-based compensation	1,705			2,574
Inventories	1,650			2,712
Accrued expenses	1,079			1,753
Compensation and benefits	471			687
Deferred revenue	187			318
Tax credits	51			162
Capital lease	4			147
Total deferred tax assets	8,670			13,696
Deferred tax liabilities:
Property and equipment	(5,367		)	(7,344		)
Prepaid expenses	(526		)	(606		)
Marketable securities	(9		)	(44		)
Total deferred tax liabilities	(5,902		)	(7,994		)
Net deferred tax asset	$	2,768		$	5,702