Income taxes (Tables)

12 Months Ended

Feb. 02, 2018

Income taxes

Schedule of provision (benefit) for income taxes

(In thousands)	2017		2016		2015
Current:
Federal	$	426,933	$	613,009	$	590,120
Foreign		105		135		1,678
State		79,011		88,990		84,021
		506,049		702,134		675,819
Deferred:
Federal		(159,728)		11,053		6,410
Foreign		(22)		—		—
State		22,021		1,308		5,715
		(137,729)		12,361		12,125
	$	368,320	$	714,495	$	687,944

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

(Dollars in thousands)	2017				2016				2015
U.S. federal statutory rate on earnings before income taxes	$	643,326	33.7	%	$	687,969	35.0	%	$	648,558	35.0	%
Impact of tax rate changes		(310,756)	(16.3)			—	—			—	—
State income taxes, net of federal income tax benefit		61,201	3.2			60,168	3.1			59,700	3.2
Jobs credits, net of federal income taxes		(26,759)	(1.4)			(18,952)	(1.0)			(21,366)	(1.2)
Increase (decrease) in valuation allowances, net of federal taxes		4,435	0.2			(1,474)	(0.1)			(1,371)	(0.1)
Stock-based compensation programs		(2,227)	(0.1)			(9,915)	(0.5)			—	—
Decrease in income tax reserves		(1,837)	(0.1)			(2,161)	(0.1)			(2,037)	(0.1)
Other, net		937	0.1			(1,140)	(0.1)			4,460	0.3
	$	368,320	19.3	%	$	714,495	36.3	%	$	687,944	37.1	%

Schedule of deferred tax assets and liabilities

	February 2,		February 3,
(In thousands)	2018		2017
Deferred tax assets:
Deferred compensation expense	$	6,522	$	7,626
Accrued expenses		3,324		6,958
Accrued rent		23,418		24,077
Accrued insurance		8,630		72,990
Accrued incentive compensation		6,394		15,170
Share based compensation		13,442		18,908
Interest rate hedges		1,765		3,175
Tax benefit of income tax and interest reserves related to uncertain tax positions		365		746
Deferred gain on sale-leaseback		12,847		20,872
Other		3,900		12,591
State tax net operating loss carryforwards, net of federal tax		602		—
State tax credit carryforwards, net of federal tax		8,350		8,765
		89,559		191,878
Less valuation allowances, net of federal taxes		(4,435)		—
Total deferred tax assets		85,124		191,878
Deferred tax liabilities:
Property and equipment		(255,215)		(334,430)
Inventories		(46,244)		(65,844)
Trademarks		(269,820)		(434,045)
Prepaid insurance		(22,875)		—
Other		(6,672)		(10,400)
Total deferred tax liabilities		(600,826)		(844,719)
Net deferred tax liabilities	$	(515,702)	$	(652,841)

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

(In thousands)	2017		2016		2015
Income tax expense (benefit)	$	(2,076)	$	(3,795)	$	(2,379)
Income tax related interest expense (benefit)		(123)		(31)		(23)
Income tax related penalty expense (benefit)		(9)		50		373

Schedule of reconciliation of uncertain income tax positions

(In thousands)	2017		2016		2015
Beginning balance	$	3,117	$	6,964	$	9,343
Increases—tax positions taken in the current year		66		41		214
Increases—tax positions taken in prior years		27		52		17
Decreases—tax positions taken in prior years		—		(1,435)		(106)
Statute expirations		(2,169)		(2,453)		(2,504)
Settlements		—		(52)		—
Ending balance	$	1,041	$	3,117	$	6,964