Income Taxes RECENT ACCOUNTING PRONOUNCEMENTS We regularly evaluate the likelihood of realizing the benefit for income tax positions we have taken in various federal, state and foreign filings  by considering all relevant facts, circumstances and information available. If we believe it is more likely than not that our position will be  sustained, we recognize a benefit at the largest amount that we believe is cumulatively greater than 50% likely to be realized. Our  unrecognized tax benefit was $15 as of January 31, 2015 and $14 as of February 1, 2014. Unrecognized tax benefits require significant management judgment regarding applicable statutes and their related interpretation, the status  of various income tax audits and our particular facts and circumstances. Also, as audits are completed or statutes of limitations lapse, it may  be necessary to record adjustments to our taxes payable, deferred taxes, tax reserves or income tax expense. Such adjustments did not  materially impact our effective income tax rate in 2014 or 2013. See Note 1: Nature of Operations and Summary of Significant Accounting Policies in the Notes to Consolidated Financial Statements of  Item 8: Financial Statements and Supplementary Data for a discussion of recent accounting pronouncements. We are currently evaluating  the impact of these standards or do not expect any of these pronouncements to have a material effect on our results of operations, liquidity or  capital resources. 34