Income Taxes (Tables)

12 Months Ended

Jan. 28, 2023

Income Tax Disclosure [Abstract]

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

The provision for income taxes was comprised of the following:

(In thousands)	2022		2021		2020
Current:
U.S. Federal	$	(1,862)	$	26,888	$	206,883
U.S. State and local	(1,105)		8,138		60,947
Total current tax (benefit) expense	(2,967)		35,026		267,830
Deferred:
U.S. Federal	(57,054)		13,651		(40,848)
U.S. State and local	(9,688)		5,356		(11,567)
Total deferred tax (benefit) expense	(66,742)		19,007		(52,415)
Income tax provision	$	(69,709)	$	54,033	$	215,415

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:

	2022 (a)		2021		2020
Statutory federal income tax rate	21.0	%	21.0	%	21.0	%
Effect of:
State and local income taxes, net of federal tax benefit	3.0		4.6		4.6
Work opportunity tax and other employment tax credits	1.0		(1.4)		(0.3)
Executive compensation limitations - permanent difference	(0.3)		1.8		0.2
Share-based compensation	(0.2)		(2.3)		0.2
Other, net	0.4		(0.4)		(0.2)
Effective income tax rate	24.9	%	23.3	%	25.5	%

Schedule of Income Taxes Paid [Table Text Block]

Income tax payments and refunds were as follows:

(In thousands)	2022		2021		2020
Income taxes refunded	$	(27,759)	$	(546)	$	(1,522)
Income taxes paid	4,318		111,206		217,308
Net income taxes (refunded) paid	$	(23,441)	$	110,660	$	215,786

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

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

(In thousands)	January 28, 2023		January 29, 2022
Deferred tax assets:
Lease liabilities, net of lease incentives	$	458,293	$	474,584
Net operating losses, tax credits, and other carryforwards	64,513		2,307
Depreciation and fixed asset basis differences	39,218		40,302
Sale and leaseback financing liability	32,251		33,508
Uniform inventory capitalization	23,660		22,734
Workers’ compensation and other insurance reserves	20,868		22,097
Compensation related	5,376		12,703
Accrued operating liabilities	3,032		2,145
Accrued state taxes	1,581		2,557
Accrued payroll taxes related to CARES Act	—		4,674
Other	16,074		13,718
Valuation allowances, net of federal tax benefit	(2,102)		(2,093)
Total deferred tax assets	662,764		629,236
Deferred tax liabilities:
Right-of-use assets, net of amortization	409,979		441,786
Accelerated depreciation and fixed asset basis differences	113,469		120,224
Synthetic lease obligation	38,464		38,582
Deferred gain on like-kind exchange	13,930		14,476
Lease construction reimbursements	11,368		8,333
Prepaid expenses	5,548		5,143
Workers’ compensation and other insurance reserves	4,067		4,493
Other	9,638		6,639
Total deferred tax liabilities	606,463		639,676
Net deferred tax assets (liabilities)	$	56,301	$	(10,440)

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)	January 28, 2023		January 29, 2022
U.S. Federal	$	35,640	$	(21,413)
U.S. State and local	20,661		10,973
Net deferred tax assets (liabilities)	$	56,301	$	(10,440)

Summary of Tax Credit Carryforwards [Table Text Block]

We have the following income tax loss and credit carryforwards at January 28, 2023 (amounts are shown net of tax excluding the federal income tax effect of the state and local items):

(In thousands)
U.S. Federal:
Federal net operating loss carryforward	$	45,590	Indefinite carryforward
Other carryforwards	4,867		Predominately indefinite carryforward
Employment tax credits	3,807		Carryback to 2021, remainder expires 2024
Total U.S. Federal	54,264
U.S. State and local:
State and local net operating loss carryforwards	10,073		Various carryforward periods ranging from 5 to 20 years including some jurisdictions with no expirations
California enterprise zone credits	2,769		Predominately expires fiscal year 2023
Other state credits	131		Expires fiscal years through 2026
Total U.S. State and local	12,973
Total net operating losses, tax credits, and other carryforwards	$	67,237

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 2022, 2021, and 2020:

(In thousands)	2022		2021		2020
Unrecognized tax benefits - beginning of year	$	9,862	$	9,465	$	10,760
Gross increases - tax positions in current year	357		410		728
Gross increases - tax positions in prior period	424		1,864		745
Gross decreases - tax positions in prior period	(1,555)		(1,039)		(1,871)
Settlements	(333)		(125)		(20)
Lapse of statute of limitations	(1,222)		(713)		(877)
Unrecognized tax benefits - end of year	$	7,533	$	9,862	$	9,465