XML 34 R22.htm IDEA: XBRL DOCUMENT

Income Tax Income Tax Disclosure

3 Months Ended

Apr. 30, 2021

Income Tax Disclosure [Abstract]

Income Tax Disclosure

INCOME TAXES

The Company’s effective tax rate varies from the federal statutory rate primarily due to state and local taxes and R&D tax credits. The Company’s effective tax rates were as follows:


						Three Months Ended
						April 30, 2021						April 30, 2020
Effective tax rate						17.1		%				(13.8)		%

The increase in the effective tax rate year-over-year was driven primarily by an increase in estimated pre-tax income in the current fiscal year. The Company operates both domestically and internationally. As of April 30, 2021, undistributed earnings from the Company's foreign subsidiaries were considered to have been reinvested indefinitely.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details