Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.22.1
Income Taxes (Tables)
12 Months Ended
Jan. 29, 2022
Income Taxes  
Schedule of Deferred Tax Assets and Liabilities The deferred taxes related to such differences as of January 29, 2022 and January 30, 2021 were as follows:

    

January 29, 2022

    

January 30, 2021

Accruals and reserves not currently deductible for tax purposes

$

5,443

$

4,227

Disallowed interest

4,820

Inventory capitalization

 

972

 

729

Differences in depreciation lives and methods

 

1,409

 

(478)

Differences in basis of intangible assets

 

315

 

318

Differences in investments and other items

 

1,289

 

3,817

Net operating loss carryforwards

 

96,975

 

98,833

Valuation allowance

 

(111,223)

 

(107,446)

Net deferred tax asset (liability) before foreign jurisdiction basis differences

Differences in basis of acquired intangible assets - foreign jurisdiction

(5,285)

Net deferred tax liability

$

(5,285)

$

Schedule of Components of Income Tax Provision (Benefit)

The income tax provision consisted of the following:

For the Years Ended

    

January 29, 2022

    

January 30, 2021

    

February 1, 2020

Current:

U.S Federal

$

$

$

State and local

60

60

11

Foreign Jurisdictions

50

Total Current

110

60

11

Deferred:

 

U.S Federal

State and local

Foreign Jurisdictions

Total Deferred

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the statutory tax rates to the Company’s effective tax rate is as follows:

For the Years Ended

    

January 29, 2022

January 30, 2021

February 1, 2020

Taxes at federal statutory rates

21.0

%  

21.0

%  

21.0

%

State income taxes, net of federal tax benefit

2.4

13.4

4.1

 

Impact of foreing income inclusion

(2.7)

Effect of 162(m) limitation

(1.5)

Disallowed transaction costs

(1.4)

Provision to return true-up

 

(2.6)

 

(2.4)

 

(4.0)

Non-cash stock option vesting expense

 

0.8

 

(1.2)

 

(0.6)

Valuation allowance and NOL carryforward benefits

 

(16.5)

 

(31.2)

 

(20.4)

Other

 

 

(0.1)

 

(0.1)

Effective tax rate

 

(0.5)

%  

(0.5)

%  

0.0

%