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Income Taxes
3 Months Ended
Apr. 30, 2015
Income Tax Disclosure [Abstract]  
Income Taxes
INCOME TAXES

The effective income tax rate for the three months ended April 30, 2015 was 34.7% versus 35.1% in the prior year. The effective income tax rate for the three months ended April 30, 2014 included an increase of 2.0 percentage points due to the one-time impact of changes in tax legislation partly offset by the favorable impact of a valuation allowance release of 1.3 percentage points.

During the three months ended April 30, 2015, the change in the gross amount of unrecognized tax benefits and accrued interest and penalties was not significant.

The Company conducts business globally, and, as a result, is subject to taxation in the U.S. and various state and foreign jurisdictions. As a matter of course, tax authorities regularly audit the Company. The Company's tax filings are currently being examined by a number of tax authorities in several jurisdictions. Ongoing audits where subsidiaries have a material presence include New York City (tax years 20112012), as well as an audit that is being conducted by the IRS (tax years 20102012). Tax years from 2006–present are open to examination in U.S. Federal and various state, local and foreign jurisdictions. As part of these audits, the Company engages in discussions with taxing authorities regarding tax positions. As of April 30, 2015, unrecognized tax benefits are not expected to change materially in the next 12 months. Future developments may result in a change in this assessment.