Income Taxes (Tables)

12 Months Ended

Jan. 31, 2020

Income Tax Disclosure [Abstract]

Reconciliation of income tax computed at the federal statutory rate to the company's effective income tax rate

The reconciliation of income tax computed at the federal statutory rate to the Company's effective income tax rate was as follows:

	For the years ended January 31,
	2020		2019		2018
Tax at U.S. federal statutory rate	21.0	%	21.0	%	33.8	%
Impact of the Tax Cuts and Jobs Act	—		—		(0.1)
State and local income taxes, net of U.S. federal tax benefit	0.8		1.7		1.6
Tax credit for research activities	(4.6)		(2.3)		(1.8)
Tax benefit on qualified production activities	—		—		(3.0)
Tax benefit from foreign-derived intangible income	(1.1)		(0.8)		—
Tax benefit on insurance premiums	(1.2)		(0.8)		(1.3)
Change in uncertain tax positions	0.3		—		0.1
Foreign tax rate difference	—		0.1		—
Impact of settlement of stock-based awards	(3.3)		(2.4)		1.2
Change in valuation allowances	0.8		—		—
Other, net	0.8		(0.8)		—
Effective Tax Rate	13.5	%	15.7	%	30.5	%

Significant components of the company's income tax provision

The expense (benefit) for income taxes consists of:

	For the years ended January 31,
	2020		2019		2018
Current expense (benefit):
Federal	$	3,401	$	6,910	$	17,057
State	416		1,099		1,549
Foreign	98		735		148
	3,915		8,744		18,754
Deferred expense (benefit):
Federal	1,271		1,018		(613)
State	204		73		(13)
Foreign	31		(138)		(161)
	1,506		953		(787)
Income tax expense	$	5,421	$	9,697	$	17,967

Significant components of the company's deferred tax assets and liabilities

Significant components of the Company's deferred tax assets and liabilities were as follows:

	As of January 31,
	2020		2019
Deferred tax assets:
Accounts receivable	$	286	$	147
Inventories	1,152		1,110
Accrued vacation	778		695
Insurance obligations	205		187
Warranty obligations	454		200
Postretirement benefits	2,042		1,800
Uncertain tax positions	445		487
Share-based compensation	1,927		1,834
Tax loss carryforwards	3,929		—
Leases	962		—
Other accrued liabilities	952		913
	13,132		7,373
Valuation allowance	(630)		—
	12,502		7,373
Deferred tax (liabilities):
Depreciation and amortization	(18,086)		(8,498)
Leases	(962)		—
Other	(518)		(518)
	(19,566)		(9,016)
Net deferred tax asset (liability)	$	(7,064)	$	(1,643)

Summary of the activity related to the gross unrecognized tax benefits (excluding interest and penalties)

A summary of the activity related to the gross unrecognized tax benefits (excluding interest and penalties) is as follows:

	For the years ended January 31,
	2020		2019		2018
Gross unrecognized tax benefits at beginning of year	$	2,228	$	2,216	$	2,110
Increases in tax positions related to the current year	338		415		426
Increases in tax positions related to prior years	45		—		—
Decreases as a result of lapses in applicable statutes of limitation	(435)		(403)		(320)
Gross unrecognized tax benefits at end of year	$	2,176	$	2,228	$	2,216