Income Taxes

6 Months Ended

Aug. 03, 2019

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

The quarterly tax provision for income taxes is based on the current estimate of the annual effective income tax rate and is adjusted as necessary for discrete quarterly events. The Company’s quarterly tax provision and the estimate of the annual effective tax rate are subject to significant variation due to several factors. These include variability in the pre-tax jurisdictional mix of earnings, changes in how the Company does business including entering into new businesses or geographies, changes in foreign currency exchange rates, changes in law, regulations, interpretations and administrative practices, relative changes in expenses or losses for which tax benefits are not recognized and the impact of discrete items. The impact of these items on the effective tax rate will be greater at lower levels of pre-tax earnings.

The Company incurred discrete income tax charges of $0.1 million and benefits of $1.0 million for the thirteen and twenty-six weeks ended August 3, 2019, respectively, primarily related to the exercise of certain share-based compensation awards, and incurred discrete non-cash income tax benefits of $0.2 million and charges of $7.9 million for the thirteen and twenty-six ended August 4, 2018, respectively, primarily related to the expiration of certain share-based compensation awards.