Income Taxes (Tables)

12 Months Ended

Feb. 02, 2019

Income Tax Disclosure [Abstract]

Components of Income Before Income Taxes from Continuing Operations

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

	For the Years Ended
	February 2,		February 3,		January 28,
(In thousands)	2019		2018		2017
U.S.	$	308,424	$	255,621	$	315,199
Foreign		36,676		31,552		20,063
Total	$	345,100	$	287,173	$	335,262

Components of Deferred Tax Assets and Liabilities

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

	February 2,			February 3,
(In thousands)	2019			2018
Deferred tax assets:
Rent	$	21,649		$	20,753
Employee compensation and benefits		12,476			1,599
Inventories		9,276			8,900
Deferred compensation		8,874			7,698
Net operating loss		8,757			9,232
Accruals not currently deductible		7,675			5,631
State tax credits		7,216			7,492
Foreign tax credits		564			3,123
Other		5,000			4,936
Gross deferred tax assets		81,487			69,364
Valuation allowance		(6,992	)		(7,096	)
Total deferred tax assets	$	74,495		$	62,268
Deferred tax liabilities:
Property and equipment	$	(53,774	)	$	(46,165	)
Prepaid Expenses	$	(4,128	)	$	(3,736	)
Other		(2,531	)		(3,023	)
Total deferred tax liabilities	$	(60,433	)	$	(52,924	)
Total deferred tax assets, net	$	14,062		$	9,344

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
	February 2,			February 3,			January 28,
(In thousands)	2019			2018			2017
Current:
Federal	$	60,453		$	31,763		$	93,961
Foreign taxes		7,343			3,404			3,168
State		19,815			9,600			11,137
Total current		87,611			44,767			108,266
Deferred:
Federal	$	(148	)	$	36,345		$	12,057
Foreign taxes		(2,367	)		(1,130	)		(268	)
State		(1,898	)		3,028			2,758
Total deferred		(4,413	)		38,243			14,547
Provision for income taxes	$	83,198		$	83,010		$	122,813

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, 2019			February 3, 2018			January 28, 2017
Unrecognized tax benefits, beginning of the year    balance	$	7,286		$	7,093		$	5,748
Increases in current period tax positions		565			1,913			1,884
Increases in tax positions of prior periods		2,279			624			464
Settlements		(1,397	)		(744	)		—
Lapse of statute of limitations		(545	)		(517	)		(362	)
Decreases in tax positions of prior periods		(1,654	)		(1,083	)		(641	)
Unrecognized tax benefits, end of the year balance	$	6,534		$	7,286		$	7,093

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,			February 3,			January 28,
	2019			2018			2017
Federal income tax rate		21.0	%		33.7	%		35.0	%
State income taxes, net of federal income tax effect		3.8			2.9			2.8
Foreign rate differential		(0.7	)		(1.9	)		(1.7	)
Impact of Tax Cuts and Jobs Act		0.1			(3.0	)		0.0
Valuation allowance changes, net		0.4			(0.2	)		0.4
Change in unrecognized tax benefits		(0.2	)		0.3			0.4
Other		(0.3	)		(2.9	)		(0.3	)
		24.1	%		28.9	%		36.6	%