XML 40 R26.htm IDEA: XBRL DOCUMENT v3.21.1
Income Taxes (Tables)
 12 Months Ended
Jan. 31, 2021
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 2020
(52 weeks)
       
Fiscal 2019
(52 weeks)
     
Fiscal 2018
(53 weeks)
  
United States
    $     773,317        $     353,215      $     333,594  
Foreign
      121,149          103,806        95,653  
Total
    $ 894,466        $ 457,021      $ 429,247  
Schedule of Components of Provision for Income Taxes
The provision for income taxes consists of the following:
 
In thousands
   
Fiscal 2020
(52 weeks)
    
Fiscal 2019
(52 weeks)
    
Fiscal
 
2018
(53
 
weeks)
  
Current
                         
Federal
    $     171,821     $       76,873     $     43,745  
State
      39,498       14,205       15,357  
Foreign
      15,494       12,438       12,822  
Total Current
    $     226,813     $ 103,516     $     71,924  
Deferred
                         
Federal
    $ (7,575 )    $ (606 )   $ 23,507  
State
      (5,997 )      (870 )      1,562  
Foreign
      511       (1,081 )      (1,430 ) 
Total Deferred
    $ (13,061 )    $ (2,557 )    $ 23,639  
Total provision
    $ 213,752     $ 100,959     $ 95,563  
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 2020
(52 weeks)
    
Fiscal 2019
(52 weeks)
    
Fiscal 2018
(53 weeks)
  
Federal income taxes at the statutory rate
              21.0%                 21.0%               21.0%
Re-measurement
of deferred tax assets and liabilities
      —         —       (2.2% )
Transition tax
      —         —       (0.6% ) 
State income tax rate
      3.9%         2.9%       3.8%  
Officer’s compensation under Sec.162(m)
      1.1%         1.0%       —
Change in uncertain tax positions
      0.2%         0.5%       4.1%  
Deferred true u
p
 
 
 (0.6%
)
 
 
 
 (1.3%
)
 
 
 —
 
 
Rate differential
      (1.1%
)
       (1.8% )      (2.3% ) 
Research and development credits
      (0.2%
)
       (0.7% )      (2.1% ) 
Other
      (0.4%
)
       0.5%       0.6%  
Total
      23.9%         22.1%       22.3%  
Schedule of Components of Deferred Income Tax Accounts
Significant components of our deferred income tax accounts are as follows:
In thousands
    Jan. 31,
 
2021		     Feb. 2,
 
2020		  
Deferred tax asset (liabilities
)
 
 
 
 
 
 
 
 
Operating lease liabilities
    $ 319,599     $ 347,693  
Compensatio
n
 
 
 
20,852
 
 
 
 
14,350
 
Merchandise inventories
      20,631       22,311  
Gift cards
      19,345       19,520  
Accrued liabilities
      13,451       8,440  
Stock-based compensation
      9,926       9,860  
Loyalty rewards
      9,609       5,252  
Executive deferred compensation
      8,647       7,543  
State taxe
s
 
 
 
7,460
 
 
 
 
7,546
 
Federal and state net operating loss
      2,609       3,443  
Operating lease
right-of-use
assets
      (283,856 )      (309,801 ) 
Deferred lease incentives
      (31,672 )      (46,701 ) 
Property and equipment
      (54,724 )      (37,309 ) 
Other
      (317 )      (3,277 ) 
Valuation allowance
      (2,819 )      (3,648 ) 
Total deferred tax assets, net
    $ 58,741     $       45,222  
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 2020     Fiscal 2019     Fiscal 2018  
Beginning Balance
    $ 36,638     $ 35,209     $ 18,051  
Increases related to current year tax positions
      4,593       3,438       4,694  
Increases for tax positions for prior years
      848       1,405       14,905  
Decrease for tax positions for prior years
      (437 )      (308 )      (1,279 ) 
Settlements
      —       —       (376 ) 
Lapse in statute of limitations
      (2,946 )      (3,106 )      (786 ) 
Ending Balance
    $ 38,696     $ 36,638     $ 35,209