Income Taxes (Tables)

12 Months Ended

Feb. 03, 2024

Income Tax Disclosure [Abstract]

Schedule of provision for federal and state income taxes

(in thousands of dollars)	Fiscal 2023		Fiscal 2022		Fiscal 2021
Current:
Federal	$	185,082	$	220,089	$	224,462
State		10,412		13,040		8,876
		195,494		233,129		233,338
Deferred:
Federal		(12,621)		(1,652)		(9,120)
State		(5,103)		(13,647)		1,672
		(17,724)		(15,299)		(7,448)
	$	177,770	$	217,830	$	225,890

Schedule of reconciliation between the Company's income tax provision and income taxes using the federal income tax rate

(in thousands of dollars)	Fiscal 2023		Fiscal 2022		Fiscal 2021
Income tax at the statutory federal rate	$	192,490	$	232,988	$	228,556
State income taxes, net of federal benefit		14,529		20,616		24,677
Net changes in unrecognized tax benefits, interest and penalties/reserves		458		1,598		186
Tax benefit of federal credits		(1,571)		(1,724)		(1,504)
Changes in cash surrender value of life insurance policies		(383)		(389)		(387)
Changes in valuation allowance		(9,766)		(22,071)		(14,364)
Tax benefit of dividends paid to ESOP		(21,990)		(17,257)		(18,912)
Other		4,003		4,069		7,638
	$	177,770	$	217,830	$	225,890

Schedule of deferred tax assets and liabilities

	February 3,		January 28,
(in thousands of dollars)	2024		2023
Prepaid expenses	$	56,808	$	54,151
Joint venture basis differences		7,954		6,714
Differences between book and tax basis of inventory		30,551		31,444
Operating lease assets		9,670		7,599
Other		716		153
Total deferred tax liabilities		105,699		100,061
Property and equipment bases and depreciation differences		(50,123)		(34,100)
Accruals not currently deductible		(87,396)		(80,499)
Operating lease liabilities		(9,853)		(7,751)
Net operating loss carryforwards		(21,750)		(27,830)
Other		(1,030)		(864)
Total deferred tax assets		(170,152)		(151,044)
Valuation allowance		1,470		10,727
Net deferred tax assets		(168,682)		(140,317)
Net deferred income taxes	$	(62,983)	$	(40,256)

Schedule of classification of deferred tax assets and liabilities

	February 3,		January 28,
(in thousands of dollars)	2024		2023
Net deferred tax assets - deferred income taxes	$	(63,951)	$	(42,278)
Net deferred tax liabilities - other liabilities		968		2,022
Net deferred income taxes	$	(62,983)	$	(40,256)

Schedule of reconciliation of beginning and ending amount of unrecognized tax benefits

(in thousands of dollars)	Fiscal 2023		Fiscal 2022		Fiscal 2021
Unrecognized tax benefits at beginning of period	$	7,030	$	6,735	$	5,058
Gross increases—tax positions in prior period		868		—		1,282
Gross decreases—tax positions in prior period		(695)		(885)		(566)
Gross increases—current period tax positions		1,405		1,202		1,332
Lapse of statutes of limitation		(498)		(22)		(371)
Unrecognized tax benefits at end of period	$	8,110	$	7,030	$	6,735