Income Taxes (Tables)

12 Months Ended

Feb. 02, 2013

Components of Income Before Income Taxes from Continuing Operations

The components of income before income taxes from continuing operations were:

	For the Years Ended
(In thousands)	February 2, 2013		January 28, 2012		January 29, 2011
U.S.	$	381,131	$	256,352	$	280,699
Foreign		20,907		18,857		36,676
Total	$	402,038	$	275,209	$	317,375

Components of Deferred Tax Assets and Liabilities

The significant components of the Company’s deferred tax assets and liabilities were as follows:

(In thousands)	February 2, 2013			January 28, 2012
Deferred tax assets:
Deferred compensation	$	38,770		$	31,379
Rent		27,208			27,642
Employee compensation and benefits		18,738			6,345
Foreign tax credits		16,874			22,302
Capital loss carryforward		15,986			18,440
Inventories		8,575			11,734
State tax credits		5,770			6,105
Other		14,196			16,373
Gross deferred tax assets		146,117			140,320
Valuation allowance		(15,986	)		(18,440	)
Total deferred tax assets	$	130,131		$	121,880
Deferred tax liabilities:
Property and equipment	$	(35,130	)	$	(55,503	)
Prepaid expenses		(5,489	)		(4,149	)
Total deferred tax liabilities	$	(40,619	)	$	(59,652	)
Total deferred tax assets, net	$	89,512		$	62,228
Classification in the Consolidated Balance Sheet:
Current deferred tax assets	$	58,230		$	48,761
Noncurrent deferred tax assets		31,282			13,467
Total deferred tax assets	$	89,512		$	62,228

Components of Provision for Income Taxes from Continuing Operations

Significant components of the provision for income taxes from continuing operations were as follows:

	For the Years Ended
(In thousands)	February 2, 2013			January 28, 2012			January 29, 2011
Current:
Federal	$	143,612		$	76,389		$	96,438
Foreign taxes		6,939			6,621			13,429
State		18,845			12,801			10,665
Total current		169,396			95,811			120,532
Deferred:
Federal	$	(26,063	)	$	7,077		$	(213	)
Foreign taxes		(1,486	)		(1,120	)		(991	)
State		(3,907	)		(1,838	)		2,316
Total deferred		(31,456	)		4,119			1,112
Provision for income taxes	$	137,940		$	99,930		$	121,644

Activity Related to Unrecognized Tax Benefits

The following table summarizes the activity related to our unrecognized tax benefits:

	For the Years Ended
(In thousands)	February 2, 2013			January 28, 2012			January 29, 2011
Unrecognized tax benefits, beginning of the year balance	$	31,578		$	31,108		$	31,649
Increases in tax positions of prior periods		—			932			1,069
Decreases in tax positions of prior periods		(10,385	)		(2,106	)		(3,801	)
Increases in current period tax positions		2,458			2,782			2,707
Settlements		(4,809	)		(1,073	)		(6	)
Lapse of statute of limitations		(1,592	)		(65	)		(510	)
Unrecognized tax benefits, end of the year balance	$	17,250		$	31,578		$	31,108

Reconciliation Between Statutory Federal Income Tax Rate and Effective Income Tax Rate from Continuing Operations

A reconciliation between the statutory federal income tax rate and the effective income tax rate from continuing operations follows:

	For the Years Ended
	February 2, 2013			January 28, 2012			January 29, 2011
Federal income tax rate		35	%		35	%		35	%
State income taxes, net of federal income tax effect		3			3			3
Valuation allowance changes, net		(1	)		(1	)		1
Tax settlements		(3	)		(1	)		(1	)
		34	%		36	%		38	%