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Income Taxes (Tables)

12 Months Ended

Feb. 03, 2019

Income Tax Disclosure [Abstract]

Summary of Tax Act Impact [Table Text Block]

The components of the provisional charge recognized in fiscal 2017 and the adjustments made during fiscal 2018 follow.

in millions	Deemed Repatriation				Deferred Tax Remeasure-ment				Statutory Tax Rate Impact				Total
Provisional tax charge (benefit) - recognized in fiscal 2017	$	400			$	(147	)		$	(126	)		$	127
Tax charge (benefit) adjustment - finalized in fiscal 2018	(62		)		(22		)		(1		)		(85		)
Total tax charge (benefit)	$	338			$	(169	)		$	(127	)		$	42

Components of Earnings before Provision for Income Taxes

Our earnings before the provision for income taxes follow.

in millions	Fiscal				Fiscal				Fiscal
	2018				2017				2016
U.S.	$	13,456			$	12,682			$	11,568
Foreign	1,100				1,016				923
Total	$	14,556			$	13,698			$	12,491

Components of Provision for Income Taxes

Our provision for income taxes follows.

in millions	Fiscal				Fiscal				Fiscal
	2018				2017				2016
Current:
Federal	$	2,495			$	4,128			$	3,870
State	544				499				462
Foreign	372				331				315
Total current	3,411				4,958				4,647
Deferred:
Federal	67				(67		)		(102		)
State	1				89				13
Foreign	(44		)		88				(24		)
Total deferred	24				110				(113		)
Provision for income taxes	$	3,435			$	5,068			$	4,534

Reconciliation of Provision for Income Taxes

Our combined federal, state, and foreign effective tax rates follow.

	Fiscal			Fiscal			Fiscal
	2018			2017			2016
Combined federal, state, and foreign effective tax rates	23.6	%		37.0	%		36.3	%

The reconciliation of our provision for income taxes at the federal statutory rates of 21% for fiscal 2018, approximately 34% for fiscal 2017, and 35% for fiscal 2016 to the actual tax expense follows.

in millions	Fiscal				Fiscal				Fiscal
	2018				2017				2016
Income taxes at federal statutory rate	$	3,057			$	4,648			$	4,372
State income taxes, net of federal income tax benefit	443				369				309
Tax on mandatory deemed repatriation	(62		)		400				—
Other, net	(3		)		(349		)		(147		)
Total	$	3,435			$	5,068			$	4,534

Tax Effects of Temporary Differences

The tax effects of temporary differences that give rise to significant portions of our deferred tax assets and deferred tax liabilities follow.

in millions	February 3, 2019				January 28, 2018
Assets:
Deferred compensation	$	183			$	185
Accrued self-insurance liabilities	298				295
State income taxes	96				109
Non-deductible reserves	231				220
Net operating losses	17				19
Other	116				124
Total deferred tax assets	941				952
Valuation allowance	—				—
Total deferred tax assets after valuation allowance	941				952
Liabilities:
Merchandise inventories	(9		)		(9		)
Property and equipment	(893		)		(770		)
Goodwill and other intangibles	(179		)		(243		)
Other	(230		)		(251		)
Total deferred tax liabilities	(1,311		)		(1,273		)
Net deferred tax liabilities	$	(370	)		$	(321	)

Tax Balance Sheet Accounts

Our noncurrent deferred tax assets and noncurrent deferred tax liabilities, netted by tax jurisdiction, follow.

in millions	February 3, 2019				January 28, 2018
Other assets	$	121			$	119
Deferred income taxes	(491		)		(440		)
Net deferred tax liabilities	$	(370	)		$	(321	)

Unrecognized Tax Benefits

Reconciliations of the beginning and ending amount of our gross unrecognized tax benefits follow.

in millions	Fiscal				Fiscal				Fiscal
	2018				2017				2016
Unrecognized tax benefits balance at beginning of fiscal year	$	637			$	659			$	689
Additions based on tax positions related to the current year	91				74				147
Additions for tax positions of prior years	100				15				14
Reductions for tax positions of prior years	(245		)		(93		)		(161		)
Reductions due to settlements	(66		)		(1		)		(16		)
Reductions due to lapse of statute of limitations	(23		)		(17		)		(14		)
Unrecognized tax benefits balance at end of fiscal year	$	494			$	637			$	659

Summary of Income Tax Examinations

Our total accrued interest and penalties follow.

in millions	February 3, 2019				January 28, 2018
Total accrued interest and penalties	$	101			$	134

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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