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Income Taxes (Tables)

12 Months Ended

Jan. 31, 2016

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

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

In thousands		Fiscal 2015				Fiscal 2014				Fiscal 2013
United States		$	462,701			$	482,739			$	448,764
Foreign			25,306				19,464				3,918
Total earnings before income taxes		$	488,007			$	502,203			$	452,682

Schedule of Components of Provision for Income Taxes

The provision for income taxes consists of the following:

In thousands		Fiscal 2015				Fiscal 2014				Fiscal 2013
Current
Federal		$	156,812			$	157,227			$	173,686
State			22,969				31,959				25,748
Foreign			5,594				4,411				2,690
Total current			185,375				193,597				202,124
Deferred
Federal			(6,093	)			2,719				(26,324	)
State			1,258				(2,547	)			(1,277	)
Foreign			(2,601	)			(420	)			(743	)
Total deferred			(7,436	)			(248	)			(28,344	)
Total provision		$	177,939			$	193,349			$	173,780

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 2015				Fiscal 2014				Fiscal 2013
Federal income taxes at the statutory rate			35.0%				35.0%				35.0%
State income tax rate			3.2%				4.0%				3.7%
Other			(1.7%	)			(0.5%	)			(0.3%	)
Effective tax rate			36.5%				38.5%				38.4%

Schedule of Components of Deferred Tax Accounts

Significant components of our deferred tax accounts are as follows:

Deferred tax assets (liabilities), in thousands		Jan. 31, 2016				Feb. 1, 2015
Customer deposits		$	64,742			$	60,989
Merchandise inventories			31,752				30,328
Stock-based compensation			21,365				19,857
Deferred rent			19,952				18,925
Accrued liabilities			17,028				28,866
Compensation			15,776				15,968
State taxes			6,723				7,061
Executive deferral plan			6,003				5,437
Deferred lease incentives			(36,475	)			(37,098	)
Prepaid catalog expenses			(10,883	)			(12,753	)
Depreciation			(4,527	)			(9,888	)
Other			11,451				8,759
Valuation allowance			(1,123	)			(1,568	)
Total deferred tax assets, net		$	141,784			$	134,883

Summary of Activity Related to Gross Unrecognized Tax Benefits

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

In thousands		Fiscal 2015				Fiscal 2014				Fiscal 2013
Balance at beginning of year		$	14,359			$	10,765			$	8,990
Increases related to current year’s tax positions			2,765				3,093				3,351
Increases related to prior years’ tax positions			101				2,007				328
Decreases related to prior years’ tax positions			(341	)			(138	)			(42	)
Settlements			(2,912	)			(1,144	)			(170	)
Lapses in statute of limitations			(682	)			(224	)			(1,692	)
Balance at end of year		$	13,290			$	14,359			$	10,765

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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.

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-SubTopic 10
-Section 50
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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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