Annual report pursuant to section 13 and 15(d)

Income Taxes (Tables)

v2.4.0.6
Income Taxes (Tables)
12 Months Ended
Jan. 28, 2012
Income Taxes [Abstract]  
Earnings before income taxes
                         
    Fiscal Year  
    2011     2010     2009  

United States

  $ 133,405     $ 49,150     $ 22,738  

Foreign

    51,005       51,380       46,306  
   

 

 

   

 

 

   

 

 

 

Total

  $ 184,410     $ 100,530     $ 69,044  
   

 

 

   

 

 

   

 

 

 
Provision for income taxes
                         
    Fiscal Year  
    2011     2010     2009  

Current tax expense:

                       

Federal

  $ 24,087     $ 20,240     $ 18,843  

State

    4,780       3,402       1,548  

Foreign

    5,649       475       32,603  

Deferred tax expense (benefit):

                       

Federal and state

    20,864       (4,439     (10,667

Foreign

    8,564       13,174       (19,498
   

 

 

   

 

 

   

 

 

 

Total

  $ 63,944     $ 32,852     $ 22,829  
   

 

 

   

 

 

   

 

 

 
Effective tax rate reconciliation
                         
    Fiscal Year  
    2011     2010     2009  

Federal statutory rate

    35.0     35.0     35.0

State income taxes, net of federal benefit

    3.1       2.5       2.0  

Exchange rate impact from distributed foreign earnings

                (3.5

Net change in tax accruals

    (0.2     (1.4     (1.2

Foreign tax rate differential

    (1.5     (0.2     (1.9

Amortizable tax goodwill

    (1.0     (1.1      

Other

    (0.7     (0.7     0.7  

Valuation allowance

          (1.4     2.0  
   

 

 

   

 

 

   

 

 

 
      34.7     32.7     33.1
   

 

 

   

 

 

   

 

 

 
Schedule of deferred tax assets and liabilities and the related temporary differences
                 
    January 28,
2012
    January 29,
2011
 

Deferred tax assets:

               

Accrued rent and other expenses

  $ 30,913     $ 29,730  

Accrued compensation

    21,415       16,835  

Accrued inventory markdowns

    3,153       4,146  

Deferred intercompany profits

    1,528       4,640  

Tax loss and other carryforwards

    19,171       23,460  
   

 

 

   

 

 

 

Total deferred tax assets

    76,180       78,811  
   

 

 

   

 

 

 

Deferred tax liabilities:

               

Property and equipment

    (58,232     (32,624

Capitalized inventory costs

    (5,042     (4,898

Intangibles

    (14,333     (13,658

Other

    (342     (127
   

 

 

   

 

 

 

Total deferred tax liabilities

    (77,949     (51,307
   

 

 

   

 

 

 

Net deferred tax assets (liabilities)

  $ (1,769   $ 27,504  
   

 

 

   

 

 

 
Summary of unrecognized tax benefits
                 
    January 28,
2012
    January 29,
2011
 

Gross unrecognized tax benefits, beginning balance

  $ 5,559     $ 7,073  

Increase in tax positions for prior years

    257       459  

Decrease in tax positions for prior years

    (27      

Increase in tax positions for current year

    811       741  

Decrease in tax positions for current year

           

Settlements

    (1,107     (802

Lapse from statute of limitations

    (1,147     (1,912
   

 

 

   

 

 

 

Gross unrecognized tax benefits, ending balance

  $ 4,346     $ 5,559