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Income Taxes (Tables)

12 Months Ended

Feb. 02, 2014

Schedule of Components of Earnings Before Income Taxes, By Tax Jurisdiction

The components of earnings before income taxes, by tax jurisdiction, are as follows:

		Fiscal Year Ended
Dollars in thousands		Feb. 2, 2014 (52 Weeks)				Feb. 3, 2013 (53 Weeks)				Jan. 29, 2012 (52 Weeks)
United States		$	448,764			$	401,542			$	367,620
Foreign			3,918				8,414				14,210
Total earnings before income taxes		$	452,682			$	409,956			$	381,830

Schedule of Components of Provision for Income Taxes

The provision for income taxes consists of the following:
		Fiscal Year Ended
Dollars in thousands		Feb. 2, 2014 (52 Weeks)				Feb. 3, 2013 (53 Weeks)				Jan. 29, 2012 (52 Weeks)
Current
Federal		$	173,686			$	136,742			$	104,370
State			25,748				22,072				22,275
Foreign			2,690				3,441				4,044
Total current			202,124				162,255				130,689
Deferred
Federal			(26,324	)			(7,827	)			15,650
State			(1,277	)			(1,202	)			(1,427	)
Foreign			(743	)			(0	)			(13	)
Total deferred			(28,344	)			(9,029	)			14,210
Total provision		$	173,780			$	153,226			$	144,899

Schedule of Reconciliation of Income Taxes at Federal Statutory Corporate Rate to Effective Rate

A reconciliation of income taxes at the federal statutory corporate rate to the effective rate is as follows:

		Fiscal Year Ended
		Feb. 2, 2014 (52 Weeks)				Feb. 3, 2013 (53 Weeks)				Jan. 29, 2012 (52 Weeks)
Federal income taxes at the statutory rate			35.0%				35.0%				35.0%
State income tax rate			3.7%				3.3%				3.5%
Other			(0.3%	)			(0.9%	)			(0.6%	)
Effective tax rate			38.4%				37.4%				37.9%

Schedule of Components of Deferred Tax Accounts

Significant components of our deferred tax accounts are as follows:

Dollars in thousands				Feb. 2, 2014				Feb. 3, 2013
Current:
Compensation				$	14,378			$	9,255
Merchandise inventories					27,337				23,413
Accrued liabilities					26,461				19,462
Customer deposits					58,479				55,321
Prepaid catalog expenses					(12,576	)			(13,971	)
Other					7,407				6,284
Total current					121,486				99,764
Non-current:
Depreciation					(4,216	)			(11,142	)
Deferred rent					17,500				16,205
Deferred lease incentives					(33,065	)			(29,931	)
Stock-based compensation					28,948				23,245
Executive deferral plan					5,699				4,562
Uncertainties					4,378				3,907
Other					(5,420	)			5,552
Total non-current					13,824				12,398
Total deferred tax assets, net				$	135,310			$	112,162

Summary of Activity Related to Gross Unrecognized Tax Benefits

The following table summarizes the activity related to our gross unrecognized tax benefits:

Dollars in thousands		Fiscal 2013 (52 Weeks)				Fiscal 2012 (53 Weeks)				Fiscal 2011 (52 Weeks)
Balance at beginning of year		$	8,990			$	10,023			$	11,619
Increases related to current year tax positions			3,351				2,188				1,329
Increases related to prior years’ tax positions			328				936				379
Decreases related to prior years’ tax positions			(42	)			(171	)			(370	)
Settlements			(170	)			(1,069	)			(2,070	)
Lapses in statute of limitations			(1,692	)			(2,917	)			(864	)
Balance at end of year		$	10,765			$	8,990			$	10,023

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- Definition

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.

+ References

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-Name Accounting Standards Codification

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-SubTopic 10

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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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Tabular disclosure of 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 (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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