INCOME TAXES	6 Months Ended
Jul. 31, 2012
INCOME TAXES	NOTE 3 — INCOME TAXES The Company’s effective tax rate was 30.0% in the second quarter of fiscal 2013 and 27.0% in the second quarter of fiscal 2012. The Company’s effective tax rate was 30.0% in the first semester of fiscal 2013 and 26.8% in the same period of the prior fiscal year. The increase in the effective rate for the second quarter and first semester of fiscal 2013 compared to the same periods of the prior year is primarily the result of the relative mix of earnings and losses within the tax jurisdictions in which the Company operates. On an absolute dollar basis, the provision for income taxes decreased 14.5% to $16.4 million for the second quarter of fiscal 2013 compared to $19.1 million in the same period of fiscal 2012. This decrease reflects the Company’s lower taxable income in the second quarter of fiscal 2013 compared to the same period of the prior fiscal year, offset in part by the increase in the effective tax rate discussed above. On an absolute dollar basis, the provision for income taxes increased 6.9% to $39.3 million for the first semester of fiscal 2013 compared to $36.8 million in the same period of fiscal 2012. The increase in the provision for income taxes in the first semester of fiscal 2013 compared to the same period of the prior fiscal year was primarily due to an increase in the Company’s effective tax rate, as discussed above. The effective tax rate differed from the U.S. federal statutory rate of 35.0% during these periods primarily due to the relative mix of earnings or losses within the tax jurisdictions in which the Company operates such as: i) losses in tax jurisdictions where the Company is not able to record a tax benefit; ii) earnings in tax jurisdictions where the Company has previously recorded a valuation allowance on deferred tax assets; and iii) earnings in lower-tax jurisdictions for which no U.S. taxes have been provided because such earnings are planned to be reinvested indefinitely outside the United States. The overall effective tax rate will continue to be dependent upon the geographic distribution of the Company’s earnings or losses, changes in tax laws, or interpretations of these laws in the Company’s operating jurisdictions. The Company monitors the assumptions used in estimating the annual effective tax rate and makes adjustments, if required, throughout the year. If actual results differ from the assumptions used in estimating the Company’s annual effective income tax rates, future income tax expense could be materially affected. The Company’s future effective tax rates could be adversely affected by lower earnings than anticipated in countries with lower statutory rates, changes in the relative mix of taxable income and taxable loss jurisdictions, changes in the valuation of deferred tax assets or liabilities, or changes in tax laws or interpretations thereof. In addition, the Company’s income tax returns are subject to continuous examination by the Internal Revenue Service and other tax authorities. The Company regularly assesses the likelihood of adverse outcomes from these examinations to determine the adequacy of the provision for income taxes. To the extent the Company prevails in matters for which accruals have been established or the Company is required to pay amounts in excess of such accruals, the Company’s effective tax rate could be materially affected.

NOTE 3 — INCOME TAXES

The Company’s effective tax rate was 30.0% in the second quarter of fiscal 2013 and 27.0% in the second quarter of fiscal 2012. The Company’s effective tax rate was 30.0% in the first semester of fiscal 2013 and 26.8% in the same period of the prior fiscal year. The increase in the effective rate for the second quarter and first semester of fiscal 2013 compared to the same periods of the prior year is primarily the result of the relative mix of earnings and losses within the tax jurisdictions in which the Company operates.

On an absolute dollar basis, the provision for income taxes decreased 14.5% to $16.4 million for the second quarter of fiscal 2013 compared to $19.1 million in the same period of fiscal 2012. This decrease reflects the Company’s lower taxable income in the second quarter of fiscal 2013 compared to the same period of the prior fiscal year, offset in part by the increase in the effective tax rate discussed above. On an absolute dollar basis, the provision for income taxes increased 6.9% to $39.3 million for the first semester of fiscal 2013 compared to $36.8 million in the same period of fiscal 2012. The increase in the provision for income taxes in the first semester of fiscal 2013 compared to the same period of the prior fiscal year was primarily due to an increase in the Company’s effective tax rate, as discussed above.

The effective tax rate differed from the U.S. federal statutory rate of 35.0% during these periods primarily due to the relative mix of earnings or losses within the tax jurisdictions in which the Company operates such as: i) losses in tax jurisdictions where the Company is not able to record a tax benefit; ii) earnings in tax jurisdictions where the Company has previously recorded a valuation allowance on deferred tax assets; and iii) earnings in lower-tax jurisdictions for which no U.S. taxes have been provided because such earnings are planned to be reinvested indefinitely outside the United States.

The overall effective tax rate will continue to be dependent upon the geographic distribution of the Company’s earnings or losses, changes in tax laws, or interpretations of these laws in the Company’s operating jurisdictions. The Company monitors the assumptions used in estimating the annual effective tax rate and makes adjustments, if required, throughout the year. If actual results differ from the assumptions used in estimating the Company’s annual effective income tax rates, future income tax expense could be materially affected.

The Company’s future effective tax rates could be adversely affected by lower earnings than anticipated in countries with lower statutory rates, changes in the relative mix of taxable income and taxable loss jurisdictions, changes in the valuation of deferred tax assets or liabilities, or changes in tax laws or interpretations thereof. In addition, the Company’s income tax returns are subject to continuous examination by the Internal Revenue Service and other tax authorities. The Company regularly assesses the likelihood of adverse outcomes from these examinations to determine the adequacy of the provision for income taxes. To the extent the Company prevails in matters for which accruals have been established or the Company is required to pay amounts in excess of such accruals, the Company’s effective tax rate could be materially affected.