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Income Taxes	6 Months Ended
Jul. 31, 2021
Income Taxes
Income Taxes	NOTE 12—INCOME TAXES We recorded income tax expense of $3.0 million and $18.9 million in the three months ended July 31, 2021 and August 1, 2020, respectively. We recorded income tax expense of $44.7 million and $17.5 million in the six months ended July 31, 2021 and August 1, 2020, respectively. The effective tax rate was 1.3% and 16.1% for the three months ended July 31, 2021 and August 1, 2020, respectively. The effective tax rate was 11.1% and 15.5% for the six months ended July 31, 2021 and August 1, 2020, respectively. The decrease in our effective tax rate for both the three and six months ended July 31, 2021 as compared to the three and six months ended August 1, 2020 is primarily due to higher discrete tax benefits related to net excess tax windfalls from stock-based compensation in 2021 as compared to 2020. As of July 31, 2021, we had $8.9 million of unrecognized tax benefits, of which $8.1 million would reduce income tax expense and the effective tax rate, if recognized. The remaining unrecognized tax benefits would offset other deferred tax assets, if recognized. As of July 31, 2021, we had $6.2 million of exposures related to unrecognized tax benefits that are expected to decrease in the next 12 months.

Income Taxes

6 Months Ended

Jul. 31, 2021

NOTE 12—INCOME TAXES

We recorded income tax expense of $3.0 million and $18.9 million in the three months ended July 31, 2021 and August 1, 2020, respectively. We recorded income tax expense of $44.7 million and $17.5 million in the six months ended July 31, 2021 and August 1, 2020, respectively. The effective tax rate was 1.3% and 16.1% for the three months ended July 31, 2021 and August 1, 2020, respectively. The effective tax rate was 11.1% and 15.5% for the six months ended July 31, 2021 and August 1, 2020, respectively. The decrease in our effective tax rate for both the three and six months ended July 31, 2021 as compared to the three and six months ended August 1, 2020 is primarily due to higher discrete tax benefits related to net excess tax windfalls from stock-based compensation in 2021 as compared to 2020.

As of July 31, 2021, we had $8.9 million of unrecognized tax benefits, of which $8.1 million would reduce income tax expense and the effective tax rate, if recognized. The remaining unrecognized tax benefits would offset other deferred tax assets, if recognized. As of July 31, 2021, we had $6.2 million of exposures related to unrecognized tax benefits that are expected to decrease in the next 12 months.

- 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.

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