Income taxes (Tables)

12 Months Ended

Jan. 30, 2015

Schedule of provision (benefit) for income taxes

(In thousands)	2014			2013			2012
Current:
Federal	$	543,089		$	530,728		$	457,370
Foreign		1,245			1,324			1,209
State		81,816			101,174			78,025

		626,150			633,226			536,604

Deferred:
Federal		(7,697	)		(16,132	)		9,734
State		(2,937	)		(13,880	)		(1,606	)

		(10,634	)		(30,012	)		8,128

	$	615,516		$	603,214		$	544,732

Schedule of reconciliation between actual income taxes and amounts computed by applying the federal statutory rate to income before income taxes

(Dollars in thousands)	2014					2013					2012
U.S. federal statutory rate on earnings before income taxes	$	588,303		35.0	%	$	569,916		35.0	%	$	524,088		35.0	%
State income taxes, net of federal income tax benefit		49,819		3.0			56,822		3.5			52,713		3.5
Jobs credits, net of federal income taxes		(18,961	)	(1.1	)		(19,348	)	(1.2	)		(16,062	)	(1.1	)
Increase (decrease) in valuation allowances		1,453		0.1			(437	)	—			(3,050	)	(0.2	)
Decrease in income tax reserves		(6,449	)	(0.4	)		(6,391	)	(0.4	)		(13,676	)	(0.9	)
Other, net		1,351		—			2,652		0.1			719		0.1

	$	615,516		36.6	%	$	603,214		37.0	%	$	544,732		36.4	%

Schedule of deferred tax assets and liabilities

(In thousands)	January 30, 2015			January 31, 2014
Deferred tax assets:
Deferred compensation expense	$	8,842		$	8,666
Accrued expenses and other		5,146			9,067
Accrued rent		19,360			17,375
Accrued insurance		76,197			78,557
Accrued incentive compensation		14,866			3,385
Share based compensation		17,623			12,049
Interest rate hedges		4,318			4,921
Tax benefit of income tax and interest reserves related to uncertain tax positions		1,502			3,439
Deferred gain on sale-leaseback		24,385			26,186
Other		3,463			3,045
State tax net operating loss carry forwards, net of federal tax		87			282
State tax credit carry forwards, net of federal tax		11,039			8,282

		186,828			175,254
Less valuation allowances		(2,845	)		(1,393	)

Total deferred tax assets		183,983			173,861

Deferred tax liabilities:
Property and equipment		(302,531	)		(307,644	)
Inventories		(73,188	)		(64,481	)
Trademarks		(433,328	)		(433,130	)
Other		(1,794	)		(4,427	)

Total deferred tax liabilities		(810,841	)		(809,682	)

Net deferred tax liabilities	$	(626,858	)	$	(635,821	)

Schedule of net deferred tax liabilities as recorded in the consolidated balance sheets

(In thousands)	January 30, 2015			January 31, 2014
Current deferred income tax liabilities, net	$	(25,268	)	$	(21,795	)
Noncurrent deferred income tax liabilities, net		(601,590	)		(614,026	)

Net deferred tax liabilities	$	(626,858	)	$	(635,821	)

Schedule of amounts associated with uncertain tax positions included in income tax expense

(In thousands)	2014			2013			2012
Income tax expense (benefit)	$	(9,497	)	$	(3,915	)	$	(16,119	)
Income tax related interest expense (benefit)		(1,445	)		590			344
Income tax related penalty expense (benefit)		51			30			(200	)

Schedule of reconciliation of uncertain income tax positions

(In thousands)	2014			2013			2012
Beginning balance	$	19,583		$	22,237		$	42,018
Increases—tax positions taken in the current year		198			3,484			2,114
Increases—tax positions taken in prior years		62			3,000			1,144
Decreases—tax positions taken in prior years		(8,636	)		(608	)		(22,669	)
Statute expirations		(1,121	)		(7,622	)		(166	)
Settlements		(743	)		(908	)		(204	)

Ending balance	$	9,343		$	19,583		$	22,237

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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