Income Taxes (Tables)

12 Months Ended

Feb. 01, 2020

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision for income taxes was comprised of the following:



(In thousands)	2019		2018		2017
Current:
U.S. Federal	$	15,495	$	35,025	$	63,743
U.S. State and local	7,215		10,341		9,201
Total current tax expense	22,710		45,366		72,944
Deferred:
U.S. Federal	48,613		5,300		28,336
U.S. State and local	3,761		53		4,242
Total deferred tax expense	52,374		5,353		32,578
Income tax provision	$	75,084	$	50,719	$	105,522

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Reconciliation between the statutory federal income tax rate and the effective income tax rate was as follows:



	2019		2018		2017
Statutory federal income tax rate	21.0	%	21.0	%	33.7	%
Effect of:
State and local income taxes, net of federal tax benefit	2.7		4.0		3.0
Executive compensation limitations - permanent difference	0.4		0.7		—
Provisional effect of the TCJA	—		(0.3	)	1.5
Work opportunity tax and other employment tax credits	(0.8	)	(1.4	)	(1.0	)
Excess tax detriment (benefit) from share-based compensation	0.4		0.4		(1.3	)
Other, net	(0.1	)	—		(0.2	)
Effective income tax rate	23.6	%	24.4	%	35.7	%

Schedule of Income Taxes Paid [Table Text Block]

Income tax payments and refunds were as follows:



(In thousands)	2019			2018			2017
Income taxes paid	$	29,375		$	59,691		$	99,693
Income taxes refunded	(2,313		)	(474		)	(888		)
Net income taxes paid	$	27,062		$	59,217		$	98,805

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Significant components of our deferred tax assets and liabilities were as follows:



(In thousands)	February 1, 2020			February 2, 2019
Deferred tax assets:
Lease liabilities, net of lease incentives	$	327,499		$	—
Depreciation and fixed asset basis differences	37,430			10,497
Uniform inventory capitalization	22,611			18,454
Workers’ compensation and other insurance reserves	21,013			20,841
Compensation related	16,378			17,218
Accrued operating liabilities	3,674			1,316
State tax credits, net of federal tax benefit	3,495			3,856
Accrued state taxes	3,027			3,416
Accrued rent	—			16,208
Other	13,907			11,767
Valuation allowances, net of federal tax benefit	(2,674		)	(2,940		)
Total deferred tax assets	446,360			100,633
Deferred tax liabilities:
Right-of-use assets, net of amortization	305,091			—
Accelerated depreciation and fixed asset basis differences	100,187			66,016
Synthetic lease obligation	34,485			—
Lease construction reimbursements	18,920			13,917
Deferred gain on like-kind exchange	15,382			—
Prepaid expenses	5,039			4,285
Workers’ compensation and other insurance reserves	3,507			2,477
Other	7,597			5,305
Total deferred tax liabilities	490,208			92,000
Net deferred tax (liabilities) assets	$	(43,848	)	$	8,633

Deferred Tax Assets and Liabilities by Jurisdiction [Table Text Block]

Our deferred tax assets and deferred tax liabilities, netted by tax jurisdiction, are summarized in the table below:



(In thousands)	February 1, 2020			February 2, 2019
U.S. Federal	$	(48,610	)	$	96
U.S. State and local	4,762			8,537
Net deferred tax (liabilities) assets	(43,848		)	8,633

Summary of Tax Credit Carryforwards [Table Text Block]

We have the following income tax loss and credit carryforwards at February 1, 2020 (amounts are shown net of tax excluding the federal income tax effect of the state and local items):



(In thousands)
U.S. State and local:
State net operating loss carryforwards	$	48	Expires predominately during fiscal years 2020 - 2039
California enterprise zone credits	4,103		Predominately expires fiscal year 2023
Other state credits	320		Expires fiscal years through 2025
Total income tax loss and credit carryforwards	$	4,471

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits for 2019, 2018, and 2017:



(In thousands)	2019			2018			2017
Unrecognized tax benefits - beginning of year	$	11,986		$	11,673		$	13,121
Gross increases - tax positions in current year	976			1,649			361
Gross increases - tax positions in prior period	1,031			1,025			1,329
Gross decreases - tax positions in prior period	(2,333		)	(1,827		)	(1,385		)
Settlements	(484		)	403			(319		)
Lapse of statute of limitations	(416		)	(937		)	(1,434		)
Unrecognized tax benefits - end of year	$	10,760		$	11,986		$	11,673