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Taxes On Earnings | 12 Months Ended
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Feb. 01, 2014
Income Tax Disclosure [Abstract] |
Taxes On Earnings | Taxes on Earnings The provision for income taxes consisted of the following:
($000) |  | 2013 |  |  | 2012 |  |  | 2011 |
Current |  |  |  |  |  |
Federal |  | $ | 486,203 |  |  | $ | 485,882 |  |  | $ | 343,550 |
State |  | 35,053 |  |  | 31,227 |  |  | 30,702 |
|  | 521,256 |  |  | 517,109 |  |  | 374,252 |
Deferred |  |  |  |  |  |
Federal |  | (11,055 | ) |  | (37,178 | ) |  | 25,383 |
State |  | (4,195 | ) |  | (1,850 | ) |  | (3,661 | )
|  | (15,250 | ) |  | (39,028 | ) |  | 21,722 |
Total |  | $ | 506,006 |  |  | $ | 478,081 |  |  | $ | 395,974 |
In fiscal 2013, 2012, and 2011, the Company realized tax benefits of $27.7 million, $30.0 million and $19.0 million, respectively, related to employee equity programs that were credited to additional paid-in capital. The provision for taxes for financial reporting purposes is different from the tax provision computed by applying the statutory federal income tax rate. The differences are reconciled below:
|  | 2013 |  |  | 2012 |  |  | 2011 |
Federal income taxes at the statutory rate |  | 35 | % |  | 35 | % |  | 35 | %
State income taxes (net of federal benefit) and other, net |  | 3 | % |  | 3 | % |  | 3 | %
Total |  | 38 | % |  | 38 | % |  | 38 | %
The components of deferred income taxes at February 1, 2014 and February 2, 2013 are as follows:
($000) |  | 2013 |  |  | 2012 |
Deferred Tax Assets |  |  |  |
Accrued liabilities |  | $ | 87,835 |  |  | $ | 72,266 |
Deferred compensation |  | 31,034 |  |  | 28,040 |
Stock-based compensation |  | 33,048 |  |  | 28,781 |
Deferred rent |  | 17,888 |  |  | 16,984 |
California franchise taxes |  | 16,479 |  |  | 13,376 |
Employee benefits |  | 16,177 |  |  | 18,315 |
Other |  | 4,992 |  |  | 3,686 |
|  | 207,453 |  |  | 181,448 |
Deferred Tax Liabilities |  |  |  |
Depreciation |  | (212,383 | ) |  | (210,343 | )
Merchandise inventory |  | (28,558 | ) |  | (18,802 | )
Supplies |  | (10,730 | ) |  | (9,766 | )
Prepaid expenses |  | (4,426 | ) |  | (6,431 | )
|  | (256,097 | ) |  | (245,342 | )
Net Deferred Tax Liabilities |  | $ | (48,644 | ) |  | $ | (63,894 | )
Classified as: |  |  |  |
Current net deferred tax asset |  | $ | 10,227 |  |  | $ | 20,407 |
Long-term net deferred tax liability |  | (58,871 | ) |  | (84,301 | )
Net Deferred Tax Liabilities |  | $ | (48,644 | ) |  | $ | (63,894 | )
The changes in amounts of unrecognized tax benefits (gross of federal tax benefits and excluding interest and penalties) at fiscal 2013, 2012, and 2011 are as follows:
($000) |  | 2013 |  |  | 2012 |  |  | 2011 |
Unrecognized tax benefits - beginning of year |  | $ | 65,667 |  |  | $ | 56,524 |  |  | $ | 43,990 |
Gross increases: |  |  |  |  |  |
Tax positions in current period |  | 15,591 |  |  | 11,009 |  |  | 9,245 |
Tax positions in prior period |  | 2,418 |  |  | 4,167 |  |  | 12,193 |
Gross decreases: |  |  |  |  |  |
Tax positions in prior periods |  | (519 | ) |  | (1,476 | ) |  | (4,491 | )
Lapse of statute limitations |  | (2,274 | ) |  | (1,312 | ) |  | (682 | )
Settlements |  | (560 | ) |  | (3,245 | ) |  | (3,731 | )
Unrecognized tax benefits - end of year |  | $ | 80,323 |  |  | $ | 65,667 |  |  | $ | 56,524 |
At the end of fiscal 2013, 2012, and 2011, the reserves for unrecognized tax benefits were $104.9 million, $82.5 million, and $72.4 million inclusive of $24.6 million, $16.8 million, and $15.9 million of related interest and penalties, respectively. The Company accounts for interest and penalties related to unrecognized tax benefits as a part of its provision for taxes on earnings. If recognized, $49.9 million would impact the Company’s effective tax rate. The difference between the total amount of unrecognized tax benefits and the amounts that would impact the effective tax rate relates to amounts attributable to deferred income tax assets and liabilities. These amounts are net of federal and state income taxes. During the next twelve months, it is reasonably possible that the statute of limitations may lapse pertaining to positions taken by the Company in prior year tax returns. If this occurs, the total amount of unrecognized tax benefits may decrease, reducing the provision for taxes on earnings by up to $4.8 million. The Company is generally open to audit by the Internal Revenue Service under the statute of limitations for fiscal years 2010 through 2013. The Company’s state income tax returns are generally open to audit under the various statutes of limitations for fiscal years 2009 through 2013. Certain state tax returns are currently under audit by state tax authorities. The Company does not expect the results of these audits to have a material impact on the consolidated financial statements.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
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