Income taxes (Tables)

12 Months Ended

Feb. 01, 2019

Income taxes

Schedule of provision (benefit) for income taxes

(In thousands)	2018		2017		2016
Current:
Federal	$	320,361	$	426,933	$	613,009
Foreign		159		105		135
State		53,091		79,011		88,990
		373,611		506,049		702,134
Deferred:
Federal		48,262		(159,728)		11,053
Foreign		(38)		(22)		—
State		4,109		22,021		1,308
		52,333		(137,729)		12,361
	$	425,944	$	368,320	$	714,495

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

(Dollars in thousands)	2018				2017				2016
U.S. federal statutory rate on earnings before income taxes	$	423,237	21.0	%	$	643,326	33.7	%	$	687,969	35.0	%
Impact of tax rate changes		(12,222)	(0.6)			(310,756)	(16.3)			—	—
State income taxes, net of federal income tax benefit		44,584	2.2			61,201	3.2			60,168	3.1
Jobs credits, net of federal income taxes		(27,506)	(1.4)			(26,759)	(1.4)			(18,952)	(1.0)
Increase (decrease) in valuation allowances, net of federal taxes		—	—			4,435	0.2			(1,474)	(0.1)
Stock-based compensation programs		(3,682)	(0.2)			(2,227)	(0.1)			(9,915)	(0.5)
Increase (decrease) in income tax reserves		3,952	0.2			(1,837)	(0.1)			(2,161)	(0.1)
Other, net		(2,419)	(0.1)			937	0.1			(1,140)	(0.1)
	$	425,944	21.1	%	$	368,320	19.3	%	$	714,495	36.3	%

Schedule of deferred tax assets and liabilities

	February 1,		February 2,
(In thousands)	2019		2018
Deferred tax assets:
Deferred compensation expense	$	6,490	$	6,522
Accrued expenses		3,278		3,324
Accrued rent		22,668		23,418
Accrued insurance		6,869		8,630
Accrued incentive compensation		15,219		6,394
Share based compensation		15,713		13,442
Interest rate hedges		1,421		1,765
Tax benefit of income tax and interest reserves related to uncertain tax positions		472		365
Deferred gain on sale-leaseback		11,649		12,847
Other		3,942		3,900
State tax net operating loss carry forwards, net of federal tax		598		602
State tax credit carry forwards, net of federal tax		8,245		8,350
		96,564		89,559
Less valuation allowances, net of federal income taxes		(4,433)		(4,435)
Total deferred tax assets		92,131		85,124
Deferred tax liabilities:
Property and equipment		(322,575)		(255,215)
Inventories		(56,221)		(46,244)
Trademarks		(308,793)		(269,820)
Prepaid insurance		(12,639)		(22,875)
Other		(1,590)		(6,672)
Total deferred tax liabilities		(701,818)		(600,826)
Net deferred tax liabilities	$	(609,687)	$	(515,702)

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

(In thousands)	2018		2017		2016
Income tax expense (benefit)	$	3,919	$	(2,076)	$	(3,795)
Income tax related interest expense (benefit)		133		(123)		(31)
Income tax related penalty expense (benefit)		33		(9)		50

Schedule of reconciliation of uncertain income tax positions

(In thousands)	2018		2017		2016
Beginning balance	$	1,041	$	3,117	$	6,964
Increases—tax positions taken in the current year		95		66		41
Increases—tax positions taken in prior years		3,914		27		52
Decreases—tax positions taken in prior years		—		—		(1,435)
Statute expirations		—		(2,169)		(2,453)
Settlements		(90)		—		(52)
Ending balance	$	4,960	$	1,041	$	3,117