Income Taxes (Tables)

12 Months Ended

Jan. 30, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Deferred Income Taxes

Deferred income taxes consist of the following:

(Dollars in Millions)	January 30, 2021				February 1, 2020
Deferred tax liabilities:
Property and equipment	$	718			$	611
Lease assets		821					816
Merchandise inventories		46				76
Total deferred tax liabilities			1,585				1,503
Deferred tax assets:
Lease obligations			1,093				1,110
Accrued and other liabilities, including stock-based compensation		244				144
Federal benefit on state tax reserves			30				30
Valuation allowance		(42		)		(23		)
Total deferred tax assets			1,325				1,261
Net deferred tax liability	$	260			$	242

Schedule of Components of (Benefit) Provision for Income Taxes

The components of the (benefit) provision for income taxes were as follows:

(Dollars in Millions)	2020			2019				2018
Current federal		$	(439)		$	128			$	229
Current state			38			31				43
Deferred federal			69			60				(36	)
Deferred state			(51)			(9	)			5
(Benefit) provision for income taxes		$	(383)		$	210			$	241

Schedule of Items Affecting Statutory Corporate Tax Rate

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

	2020			2019			2018
Federal statutory rate		21.0	%		21.0	%		21.0	%
State income taxes, net of federal tax benefit		2.1			3.1			3.7
Federal NOL carryback		66.0			—			—
Uncertain tax positions		(19.4	)		0.6			(0.2	)
Federal tax credits		0.4			(1.2	)		(1.0	)
Other		0.1			(0.2	)		(0.3	)
Effective tax rate		70.2	%		23.3	%		23.2	%

Schedule of Reconciliation of Gross Amount of Unrecognized Tax Benefits

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

(Dollars in Millions)	2020				2019
Balance at beginning of year		$	135			$	133
Increases due to tax positions taken in prior years			—				7
Increases due to tax positions taken in current year			177				12
Decreases due to:
Tax positions taken in prior years			(9	)			(14	)
Settlements with taxing authorities			(4	)			—
Lapse of applicable statute of limitations			(1	)			(3	)
Balance at end of year		$	298			$	135