Taxes on Earnings (Tables)

12 Months Ended

Feb. 02, 2019

Income Tax Disclosure [Abstract]

Schedule for Income Tax Provision

The provision for income taxes consisted of the following:

($000)	2018			2017			2016
Current
Federal	$	357,170		$	660,017		$	632,872
State	74,472			52,853			44,333
	431,642			712,870			677,205
Deferred
Federal	33,913			(40,468		)	(8,350		)
State	(2,136		)	5,565			(353		)
	31,777			(34,903		)	(8,703		)
Total	$	463,419		$	677,967		$	668,502

Provision for Taxes Effective Rate

The provision for taxes for financial reporting purposes is different from the tax provision computed by applying the statutory federal income tax rate. The differences are reconciled below:

	2018		2017		2016
Federal income taxes at the statutory rate	21	%	34	%	35	%
State income taxes (net of federal benefit) and other, net	3		2		2
Tax audit settlements	(1	)	—		—
Impact of the Tax Act on deferred taxes	—		(3	)	—
Total	23	%	33	%	37	%

Components of Deferred Income Taxes

The components of deferred taxes at February 2, 2019 and February 3, 2018 are as follows:

($000)	2018			2017
Deferred Tax Assets
Accrued liabilities	$	38,367		$	46,489
Deferred compensation	30,886			28,094
Stock-based compensation	36,118			34,986
Deferred rent	19,824			18,013
State taxes and credits	20,310			20,206
Employee benefits	18,845			15,242
Other	1,412			5,224
Gross Deferred Tax Assets	165,762			168,254
Less: Valuation allowance	(4,639		)	(4,659		)
Deferred Tax Assets	161,123			163,595
Deferred Tax Liabilities
Depreciation	(238,631		)	(217,332		)
Merchandise inventory	(25,686		)	(19,055		)
Supplies	(10,308		)	(9,529		)
Other	(10,806		)	(3,485		)
Deferred Tax Liabilities	(285,431		)	(249,401		)
Net Deferred Tax Liabilities	$	(124,308	)	$	(85,806	)

Unrecognized Tax Benefits

The changes in amounts of unrecognized tax benefits (gross of federal tax benefits and excluding interest and penalties) at fiscal 2018, 2017, and 2016 are as follows:

($000)	2018			2017			2016
Unrecognized tax benefits - beginning of year	$	98,666		$	81,122		$	75,372
Gross increases:
Tax positions in current period	14,722			26,837			12,394
Tax positions in prior period	1,843			—			2,897
Gross decreases:
Tax positions in prior periods	(40,600		)	(2,755		)	(3,231		)
Lapse of statutes of limitations	(8,584		)	(6,068		)	(6,310		)
Settlements	(260		)	(470		)	—
Unrecognized tax benefits - end of year	$	65,787		$	98,666		$	81,122