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Income Taxes (Tables)

12 Months Ended

Feb. 01, 2014

Income Tax Disclosure [Abstract]

Schedule of components of the provision for income taxes

The components of the provision for income taxes are as follows (in thousands):

	2013				2012				2011
Current:
Federal	$	156,177			$	174,049			$	119,893
State	27,769				27,429				23,075
	183,946				201,478				142,968
Deferred:
Federal	23,499				(1,734		)		23,130
State	1,064				(628		)		2,022
	24,563				(2,362		)		25,152
Total provision	$	208,509			$	199,116			$	168,120

Reconciliation of the federal statutory income tax rate to the effective income tax rate

The provision for income taxes differs from the amounts computed by applying the federal statutory rate as follows for the following periods:

	2013			2012			2011
Federal statutory rate	35.0	%		35.0	%		35.0	%
State tax, net of federal benefit	3.5	%		3.6	%		4.1	%
Valuation allowance	(0.4	)%		1.6	%		—	%
Other permanent items	0.1	%		0.5	%		(0.2	)%
Effective income tax rate	38.2	%		40.7	%		38.9	%

Schedule of the components of deferred tax assets (liabilities)

Components of deferred tax assets (liabilities) consist of the following as of the fiscal periods ended (in thousands):

	2013				2012
Inventory	$	35,531			$	30,614
Store closing expense	6,674				12,444
Stock-based compensation	26,692				33,667
Capital loss carryforward	6,242				7,942
Employee benefits	33,156				26,876
Other accrued expenses not currently deductible for tax purposes	4,631				4,658
Deferred rent	27,609				25,625
Insurance	2,352				2,363
Gift cards	11,531				10,478
Deferred revenue currently taxable	4,404				4,829
Non income-based tax reserves	7,098				4,903
Uncertain income tax positions	3,112				2,981
Valuation allowance	(6,242		)		(7,942		)
Total deferred tax assets	162,790				159,438
Property and equipment	(118,854		)		(84,734		)
Inventory	(30,342		)		(36,404		)
Intangibles	(10,875		)		(10,930		)
Other	(24		)		(112		)
Total deferred tax liabilities	(160,095		)		(132,180		)
Net deferred tax asset	$	2,695			$	27,258

Schedule of reconciliation of the Company's total unrecognized tax benefits balances, excluding interest and penalties

The following table represents a reconciliation of the Company's total unrecognized tax benefits balances, excluding interest and penalties (in thousands):

	2013				2012				2011
Beginning of fiscal year	$	10,670			$	18,692			$	13,560
Increases as a result of tax positions taken in a prior period	1,651				1,816				5,567
Decreases as a result of tax positions taken in a prior period	(2,240		)		(4,370		)		(52		)
Increases as a result of tax positions taken in the current period	985				1,740				1,966
Decreases as a result of settlements during the current period	(3,559		)		(6,405		)		(1,757		)
Reductions as a result of a lapse of statute of limitations during the current period	—				(803		)		(592		)
End of fiscal year	$	7,507			$	10,670			$	18,692

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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 of the change in unrecognized tax benefits.

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