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Income Taxes
6 Months Ended
Jul. 29, 2017
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
The provision for income taxes is based on a current estimate of the annual effective tax rate and is adjusted as necessary for quarterly events. Our effective income tax rate may fluctuate from quarter to quarter as a result of a variety of factors, including changes in our assessment of certain tax contingencies, valuation allowances, changes in tax law, outcomes of administrative audits, the impact of discrete items, and the mix of earnings.
For the thirteen weeks ended July 29, 2017 and July 30, 2016, the effective tax rate was 35.1% and 38.0%, respectively. For the thirteen weeks ended July 29, 2017, the income tax provision was $12.3 million compared to the income tax provision of $14.1 million for the thirteen weeks ended July 30, 2016. The reduction in effective tax rate of 290 basis points primarily related to favorable federal and state settlements, partially offset by a 67 basis point charge from the adoption of the new share-based payment accounting standard (the "Standard") effective the first quarter of 2017.
For the twenty-six weeks ended July 29, 2017 and July 30, 2016, the effective tax rate was 37.0% and 37.9%, respectively. For the twenty-six weeks ended July 29, 2017, the income tax provision was $33.1 million compared to the income tax provision of $33.1 million for the twenty-six weeks ended July 30, 2016. This 90 basis points reduction in the effective tax rate primarily related to favorable federal and state settlements, partially offset by a 58 basis point charge from the adoption of the Standard effective the first quarter of 2017.