Income Taxes

6 Months Ended

Jul. 31, 2015

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

Note 12. Income Taxes

The effective tax rate on consolidated pre-tax income from continuing operations was 31.7% for the three months ended July 31, 2015, and 34.4% for the three months ended July 31, 2014. The effective tax rate on consolidated pre-tax income from continuing operations was 32.4% for the six months ended July 31, 2015, and 35.4% for the six months ended July 31, 2014. The fluctuations in the effective tax rate primarily relate to the release of valuation allowances against capital loss carryforwards and the domestic production activities deduction. These items reduced the effective tax rate approximately 3% for the quarter and six months ended July 31, 2015.

The Company files a U.S. federal income tax return and income tax returns in various states. In general, the Company is no longer subject to U.S. federal, state or local income tax examinations by tax authorities for years ended January 31, 2011 and prior. A reconciliation of the beginning and ending amount of unrecognized tax benefits, including interest and penalties, is as follows (amounts in thousands):

Unrecognized tax benefits, January 31, 2015	$	1,658
Changes for prior years’ tax positions		(861	)
Changes for current year tax positions		—
Unrecognized tax benefits, July 31, 2015	$	797