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Taxes on Earnings (Tables) | 12 Months Ended
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Jan. 28, 2023
Income Tax Disclosure [Abstract] |
Schedule for Income Tax Provision | The provision for income taxes consisted of the following:
($000) |  | 2022 |  | 2021 |  | 2020
Current |  |  |  |  |  |
Federal |  | $ | 338,479 |  |  | $ | 442,152 |  |  | $ | 44,164 |
State |  | 57,552 |  |  | 78,024 |  |  | 4,563 |
|  | 396,031 |  |  | 520,176 |  |  | 48,727 |
Deferred |  |  |  |  |  |
Federal |  | 74,062 |  |  | 21,103 |  |  | (27,487) |
State |  | 5,355 |  |  | (5,328) |  |  | (325) |
|  | 79,417 |  |  | 15,775 |  |  | (27,812) |
Total |  | $ | 475,448 |  |  | $ | 535,951 |  |  | $ | 20,915 |
Schedule of Provision for Taxes Effective Rate | 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:
|  | 2022 |  | 2021 |  | 2020
Federal income taxes at the statutory rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes (net of federal benefit) |  | 3.2 | % |  | 3.2 | % |  | 4.1 | %
Hiring tax credits |  | (0.5) | % |  | (0.5) | % |  | (5.4) | %
Other, net |  | 0.2 | % |  | — | % |  | — | %
Total |  | 23.9 | % |  | 23.7 | % |  | 19.7 | %
Schedule of Components of Deferred Income Taxes | The components of deferred taxes at January 28, 2023 and January 29, 2022 are as follows:
($000) |  | 2022 |  | 2021 |
Deferred Tax Assets |  |  |  |  |
Accrued liabilities |  | $ | 31,303 |  |  | $ | 34,211 |  |
Deferred compensation |  | 40,201 |  |  | 38,685 |  |
Stock-based compensation |  | 46,139 |  |  | 45,840 |  |
State taxes and credits |  | 15,755 |  |  | 18,501 |  |
Employee benefits |  | 24,715 |  |  | 28,430 |  |
Operating lease liabilities |  | 820,219 |  |  | 801,186 |  |
Other |  | 7,976 |  |  | 9,632 |  |
Gross Deferred Tax Assets |  | 986,308 |  |  | 976,485 |  |
Less: Valuation allowance |  | — |  |  | (1,931) |  |
Deferred Tax Assets |  | 986,308 |  |  | 974,554 |  |
Deferred Tax Liabilities |  |  |  |  |
Depreciation and amortization |  | (372,497) |  |  | (293,065) |  |
Merchandise inventory |  | (24,493) |  |  | (27,699) |  |
Supplies |  | (13,239) |  |  | (12,280) |  |
Operating lease assets |  | (781,277) |  |  | (764,557) |  |
Other |  | (11,861) |  |  | (14,595) |  |
Deferred Tax Liabilities |  | (1,203,367) |  |  | (1,112,196) |  |
Net Deferred Tax Liabilities |  | $ | (217,059) |  |  | $ | (137,642) |  |
Schedule of Changes in Amounts of Unrecognized Tax Benefits | The changes in amounts of unrecognized tax benefits (gross of federal tax benefits and excluding interest and penalties) at fiscal 2022, 2021, and 2020 are as follows:
($000) |  | 2022 |  | 2021 |  | 2020
Unrecognized tax benefits - beginning of year |  | $ | 60,547 |  |  | $ | 60,240 |  |  | $ | 59,887 |
Gross increases: |  |  |  |  |  |
Tax positions in current period |  | 10,132 |  |  | 10,381 |  |  | 12,310 |
Tax positions in prior period |  | 672 |  |  | 1,494 |  |  | 2,860 |
Gross decreases: |  |  |  |  |  |
Tax positions in prior periods |  | (6,808) |  |  | (1,795) |  |  | (2,624) |
Lapse of statutes of limitations |  | (9,989) |  |  | (9,757) |  |  | (9,861) |
Settlements |  | (1,010) |  |  | (16) |  |  | (2,332) |
Unrecognized tax benefits - end of year |  | $ | 53,544 |  |  | $ | 60,547 |  |  | $ | 60,240 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI https://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32840-109319 + Details
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