Income Taxes (Tables)

12 Months Ended

Feb. 01, 2014

Income Tax Disclosure [Abstract]

Deferred income taxes

Deferred income taxes consist of the following:

	Feb 1, 2014		Feb 2, 2013
	(Dollars In Millions)
Deferred tax liabilities:
Property and equipment	$	1,416	$	1,405
Deferred tax assets:
Merchandise inventories	24		23
Accrued and other liabilities, including stock options	223		217
Capital lease and financing obligations	813		810
Accrued step rent liability	94		86
Unrealized loss on investments	7		12
Unrealized loss on interest rate swap	15		17
	1,176		1,165
Net deferred tax liability	$	240	$	240

Components of the provision for income tax

The components of the provision for income taxes as follows:

	2013			2012			2011
	(Dollars In Millions)
Current federal	$	469		$	590		$	497
Current state	45			60			60
Deferred federal	10			(66		)	124
Deferred state	(9		)	(9		)	11
	$	515		$	575		$	692

Items affecting statutory corporate tax rate

The provision for income taxes differs from the amount that would be provided by applying the statutory U.S. corporate tax rate due to the following items:

	2013		2012		2011
Provision at statutory rate	35.0	%	35.0	%	35.0	%
State income taxes, net of federal tax benefit	2.2		2.2		2.7
Tax-exempt interest income	(0.2	)	(0.1	)	—
Federal HIRE Act tax credit	—		—		(0.4	)
Other Federal tax credits	(0.3	)	(0.3	)	(0.1	)
Provision for income taxes	36.7	%	36.8	%	37.2	%

Reconciliation of gross amount of unrecognized tax benefits

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

	2013			2012
	(Dollars In Millions)
Balance at beginning of year	$	108		$	101
Increases due to:
Tax positions taken in prior years	6			1
Tax positions taken in current year	21			22
Decreases due to:
Tax positions taken in prior years	(4		)	(9		)
Settlements with taxing authorities	(3		)	(1		)
Lapse of applicable statute of limitations	(3		)	(6		)
Balance at end of year	$	125		$	108