Taxes (Tables)

12 Months Ended

Feb. 03, 2024

Taxes Payable [Abstract]

Schedule of Income Tax Expense (Benefit)

Income tax expense (benefit) is as follows:

	2023						2022						2021
	Current		Deferred		Total		Current		Deferred		Total		Current		Deferred		Total
	(millions)
Federal	$	205	$	(193)	$	12	$	361	$	(56)	$	305	$	369	$	(21)	$	348
State and local	58		(51)		7		18		18		36		48		40		88
	$	263	$	(244)	$	19	$	379	$	(38)	$	341	$	417	$	19	$	436

Schedule of Effective Income Tax Reconciliation

The reasons for this difference and their tax effects are as follows:

	2023		2022		2021
	(millions)
Expected tax	$	26	$	319	$	392
State and local income taxes, net of federal income taxes (a)	—		23		84
CARES Act carryback benefit	—		—		(29)
Tax impact of equity awards	(1)		—		—
Federal tax credits	(13)		(4)		(3)
Change in valuation allowance	5		5		(15)
Other	2		(2)		7
	$	19	$	341	$	436

(a) 2022 includes an income tax benefit from the favorable resolution of state income tax litigation.

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows:

	February 3, 2024		January 28, 2023
	(millions)
Deferred tax assets
Post employment and postretirement benefits	$	25	$	50
Accrued liabilities accounted for on a cash basis for tax purposes	109		112
Lease liabilities	897		881
Unrecognized state tax benefits and accrued interest	22		22
State operating loss and credit carryforwards	122		132
Other	102		112
Valuation allowance	(100)		(94)
Total deferred tax assets	1,177		1,215
Deferred tax liabilities
Excess of book basis over tax basis of property and equipment	(784)		(872)
Right of use assets	(619)		(717)
Merchandise inventories	(335)		(351)
Intangible assets	(115)		(116)
Other	(69)		(106)
Total deferred tax liabilities	(1,922)		(2,162)
Net deferred tax liability	$	(745)	$	(947)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	February 3, 2024		January 28, 2023		January 29, 2022
	(millions)
Balance, beginning of year	$	80	$	102	$	113
Additions based on tax positions related to the current year	10		13		12
Reductions for tax positions of prior years	(2)		(20)		(11)
Settlements	—		(4)		(2)
Statute expirations	(12)		(11)		(10)
Balance, end of year	$	76	$	80	$	102
Amounts recognized in the Consolidated Balance Sheets
Current income taxes	$	4	$	4	$	14
Deferred income taxes	1		1		3
Other liabilities (b)	71		75		85
	$	76	$	80	$	102

(b) Unrecognized tax benefits not expected to be settled within one year are included within other liabilities on the Consolidated Balance Sheets.

Schedule of Unrecognized Benefits and Related Interest and Penalties

Additional information regarding unrecognized benefits and related interest and penalties is as follow:

	February 3, 2024		January 28, 2023
	(millions)
Amount of unrecognized tax benefits, net of deferred tax assets, that if recognized would affect the effective tax rate	$	59	$	63
Accrued federal, state and local interest and penalties	26		23
Amounts recognized in the Consolidated Balance Sheets
Current income taxes	6		4
Other liabilities	20		19