Income taxes (Tables)

12 Months Ended

Feb. 03, 2017

Income taxes

Schedule of provision (benefit) for income taxes

(In thousands)	2016		2015		2014
Current:
Federal	$	613,009	$	590,120	$	543,089
Foreign		135		1,678		1,245
State		88,990		84,021		81,816
		702,134		675,819		626,150
Deferred:
Federal		11,053		6,410		(7,697)
State		1,308		5,715		(2,937)
		12,361		12,125		(10,634)
	$	714,495	$	687,944	$	615,516

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

(Dollars in thousands)	2016				2015				2014
U.S. federal statutory rate on earnings before income taxes	$	687,969	35.0	%	$	648,558	35.0	%	$	588,303	35.0	%
State income taxes, net of federal income tax benefit		60,168	3.1			59,700	3.2			49,819	3.0
Jobs credits, net of federal income taxes		(18,952)	(1.0)			(21,366)	(1.2)			(18,961)	(1.1)
Increase (decrease) in valuation allowances		(1,474)	(0.1)			(1,371)	(0.1)			1,453	0.1
Stock-based compensation programs		(9,915)	(0.5)			—	—			—	—
Decrease in income tax reserves		(2,161)	(0.1)			(2,037)	(0.1)			(6,449)	(0.4)
Other, net		(1,140)	(0.1)			4,460	0.3			1,351	—
	$	714,495	36.3	%	$	687,944	37.1	%	$	615,516	36.6	%

Schedule of deferred tax assets and liabilities

	February 3,		January 29,
(In thousands)	2017		2016
Deferred tax assets:
Deferred compensation expense	$	7,626	$	8,200
Accrued expenses		6,958		8,139
Accrued rent		24,077		20,793
Accrued insurance		72,990		72,676
Accrued incentive compensation		15,170		19,902
Share based compensation		18,908		17,988
Interest rate hedges		3,175		3,702
Tax benefit of income tax and interest reserves related to uncertain tax positions		746		1,371
Deferred gain on sale-leaseback		20,872		22,637
Other		12,591		9,440
State tax credit carry forwards, net of federal tax		8,765		10,711
		191,878		195,559
Less valuation allowances		—		(1,474)
Total deferred tax assets		191,878		194,085
Deferred tax liabilities:
Property and equipment		(334,430)		(320,619)
Inventories		(65,844)		(72,456)
Trademarks		(434,045)		(433,548)
Other		(10,400)		(7,417)
Total deferred tax liabilities		(844,719)		(834,040)
Net deferred tax liabilities	$	(652,841)	$	(639,955)

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

(In thousands)	2016		2015		2014
Income tax expense (benefit)	$	(3,795)	$	(2,379)	$	(9,497)
Income tax related interest expense (benefit)		(31)		(23)		(1,445)
Income tax related penalty expense (benefit)		50		373		51

Schedule of reconciliation of uncertain income tax positions

(In thousands)	2016		2015		2014
Beginning balance	$	6,964	$	9,343	$	19,583
Increases—tax positions taken in the current year		41		214		198
Increases—tax positions taken in prior years		52		17		62
Decreases—tax positions taken in prior years		(1,435)		(106)		(8,636)
Statute expirations		(2,453)		(2,504)		(1,121)
Settlements		(52)		—		(743)
Ending balance	$	3,117	$	6,964	$	9,343