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INCOME TAXES (Deferred Income Tax Assets (Liabilities)) (Details) - USD ($)
$ in Thousands
12 Months Ended
Feb. 01, 2020
Feb. 02, 2019
Income Tax Disclosure [Abstract]    
Impact of swiss tax reform $ 24,900  
DeferredTaxAssetsOperatingLeaseLiabilities [1] 370,068 $ 0
Deferred tax asset, intangibles foreign step-up in basis [2] 77,565 52,615
Deferred income tax assets:    
Deferred compensation 19,849 22,341
Prepaid expenses 13,571 12,767
Rent 2,727 27,299
DeferredTaxAssetsPrepaidExpenses 1,246 0
Net operating losses (NOL), tax credit and other carryforwards 13,204 8,195
Investments in subsidiaries 0 1,988
Other 3,613 1,012
Valuation allowances (8,916) (5,402)
Total deferred income tax assets 492,927 120,815
Deferred Tax Liabilities, Leasing Arrangements (319,005) 0
Deferred Tax Liability, U.S. offset to foreign step-up in basis [2] (77,565) (52,615)
Deferred income tax liabilities:    
Inventory (17,236) (4,769)
Property, equipment and intangibles (3,537) (6,937)
Store supplies (2,843) (2,998)
DeferredTaxLiability, U.S. offset to foreign deferred tax assets, excluding intangibles (1,654) 0
Prepaid expenses 0 (2,564)
Undistributed profits of non-U.S. subsidiaries (587) 0
Other (488) (660)
Total deferred income tax liabilities (422,915) (70,543)
Net deferred income tax assets (3) [3] $ 70,012 $ 50,272
[1]
Refer to Note 2, “SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recent accounting pronouncements,” for further discussion of the new lease accounting standard’s impact on the consolidated financial statements.
[2]
The deferred tax asset relates to a step-up in basis associated with the intra-entity transfer of intangible assets to Switzerland which are being amortized for Swiss local tax purposes. As this subsidiary’s income is also taxable in the U.S., a corresponding U.S. deferred tax liability was recognized to reflect lower resulting foreign tax credit due to the amortization of the Swiss step-up in basis. Included in the liability section is the remaining portion of deferred tax liabilities which are properly categorized in the table above.
[3]
This table does not reflect deferred taxes classified within accumulated other comprehensive loss. As of February 1, 2020, accumulated other comprehensive loss included an insignificant amount of deferred tax liabilities. As of February 2, 2019, accumulated other comprehensive loss included deferred tax liabilities of $0.3 million.