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TAXES BASED ON INCOME (Tables)

12 Months Ended

Feb. 03, 2024

TAXES BASED ON INCOME

Schedule of provision for taxes based on income

​

​	​	​	​	​	​	​	​	​	​	​
​		2023			2022			2021
Federal	​	​	​	​	​	​	​	​	​	​
Current	​	$	707	​	$	401	​	$	349	​
Deferred	​		(130)	​		162	​		(46)	​
​	​	​	​	​	​	​	​	​	​	​
Subtotal federal	​		577	​		563	​		303	​
​	​	​	​	​	​	​	​	​	​	​
State and local	​	​	​	​	​	​	​	​	​	​
Current	​		114	​		91	​		67	​
Deferred	​		(24)	​		(1)	​		15	​
​	​	​	​	​	​	​	​	​	​	​
Subtotal state and local	​		90	​		90	​		82	​
​	​	​	​	​	​	​	​	​	​	​
Total	​	$	667	​	$	653	​	$	385	​

Schedule of reconciliation of the statutory federal rate and the effective rate

​

​	​	​	​	​	​	​	​
​		2023		2022		2021
Statutory rate		21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit		2.5	​	2.5	​	3.2	​
Credits		(1.1)	​	(0.8)	​	(1.3)	​
Resolution of tax audit examinations		—	​	(0.2)	​	(3.1)	​
Excess tax benefits from share-based payments	​	(0.7)	​	(1.9)	​	(1.3)	​
Impairment of goodwill related to Vitacost.com	​	—	​	1.2	​	—	​
Non-deductible legal settlements	​	1.4	​	—	​	—	​
Non-deductible executive compensation	​	0.3	​	0.5	​	0.6	​
Other changes, net		0.1	​	0.2	​	(0.3)	​
​	​	​	​	​	​	​	​
Effective income tax rate		23.5	%	22.5	%	18.8	%

​

Schedule of the tax effects of significant temporary differences that comprise tax balances

​

​	​	​	​	​	​	​	​
​		2023			2022
Deferred tax assets:	​	​	​	​	​	​	​
Compensation related costs	​	$	361	​	$	409	​
Lease liabilities	​		2,100	​		1,892	​
Closed store reserves	​		51	​		51	​
Unrealized losses on hedging instruments	​		—	​		74	​
Net operating loss and credit carryforwards	​		76	​		101	​
Deferred income	​	​	102	​	​	104	​
Legal settlements	​	​	313	​	​	—	​
Allowance for uncollectible receivables	​	​	30	​	​	26	​
Other	​	​	—	​		13	​
​	​	​	​	​	​	​	​
Subtotal	​		3,033	​		2,670	​
Valuation allowance	​		(55)	​		(83)	​
​	​	​	​	​	​	​	​
Total deferred tax assets	​		2,978	​		2,587	​
​	​	​	​	​	​	​	​
Deferred tax liabilities:	​	​	​	​	​	​	​
Depreciation and amortization	​		(2,038)	​		(1,954)	​
Operating lease assets	​		(1,985)	​	​	(1,759)	​
Insurance related costs	​	​	(241)	​	​	(257)	​
Inventory related costs	​	​	(259)	​	​	(281)	​
Equity investments in excess of tax basis	​	​	—	​	​	(8)	​
Other	​	​	(16)	​	​	—	​
​	​	​	​	​	​	​	​
Total deferred tax liabilities	​		(4,539)	​		(4,259)	​
​	​	​	​	​	​	​	​
Deferred income taxes	​	$	(1,561)	​	$	(1,672)	​

Schedule of reconciliation of beginning and ending amounts of unrecognized tax benefits

​

​	​	​	​	​	​	​	​	​	​	​
​		2023			2022			2021
Beginning balance	​	$	93	​	$	100	​	$	193	​
Additions based on tax positions related to the current year	​		10	​		8	​		10	​
Additions for tax positions of prior years	​		3	​		6	​		9	​
Reductions for tax positions of prior years	​		(9)	​		(4)	​		(108)	​
Settlements	​	​	(1)	​		(9)	​		—	​
Lapse of statute	​	​	(6)	​	​	(8)	​	​	(4)	​
Ending balance	​	$	90	​	$	93	​	$	100	​

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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 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.

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