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Income Taxes | 12 Months Ended
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Jan. 30, 2016
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The components of the provision for income taxes are as follows for the fiscal periods ended (in thousands):
| 2015 |  | 2014 |  | 2013
Current: |  |  |  |  |
Federal | $ | 164,165 |  |  | $ | 187,735 |  |  | $ | 156,177 |
State | 27,076 |  |  | 30,340 |  |  | 27,769 |
| 191,241 |  |  | 218,075 |  |  | 183,946 |
Deferred: |  |  |  |  |
Federal | 8,198 |  |  | (5,740 | ) |  | 23,499 |
State | 1,045 |  |  | (519 | ) |  | 1,064 |
| 9,243 |  |  | (6,259 | ) |  | 24,563 |
Total provision | $ | 200,484 |  |  | $ | 211,816 |  |  | $ | 208,509 |
The provision for income taxes differs from the amounts computed by applying the federal statutory rate as follows for the following periods:
| 2015 |  | 2014 |  | 2013
Federal statutory rate | 35.0 | % |  | 35.0 | % |  | 35.0 | %
State tax, net of federal benefit | 3.5 | % |  | 3.1 | % |  | 3.5 | %
Valuation allowance | (0.1 | )% |  | — | % |  | (0.4 | )%
Other permanent items | (0.6 | )% |  | — | % |  | 0.1 | %
Effective income tax rate | 37.8 | % |  | 38.1 | % |  | 38.2 | %
Components of deferred tax assets (liabilities) consist of the following as of the fiscal periods ended (in thousands):
| 2015 |  | 2014
Inventory | $ | 45,442 |  |  | $ | 42,163 |
Employee benefits | 37,295 |  |  | 34,167 |
Deferred rent | 36,485 |  |  | 31,234 |
Stock-based compensation | 26,843 |  |  | 25,913 |
Gift cards | 15,884 |  |  | 13,691 |
Other accrued expenses not currently deductible for tax purposes | 9,532 |  |  | 5,520 |
Capital loss carryforward | 5,304 |  |  | 5,608 |
Non income-based tax reserves | 5,274 |  |  | 8,174 |
Deferred revenue currently taxable | 4,957 |  |  | 4,837 |
Store closing expense | 4,569 |  |  | 4,984 |
Uncertain income tax positions | 4,253 |  |  | 3,524 |
Insurance | 2,280 |  |  | 2,432 |
Other | 179 |  |  | 77 |
Valuation allowance | (5,304 | ) |  | (5,608 | )
Total deferred tax assets | 192,993 |  |  | 176,716 |
Property and equipment | (152,287 | ) |  | (134,057 | )
Inventory | (35,095 | ) |  | (27,386 | )
Intangibles | (5,900 | ) |  | (6,319 | )
Total deferred tax liabilities | (193,282 | ) |  | (167,762 | )
Net deferred tax (liability) asset | $ | (289 | ) |  | $ | 8,954 |
In 2015, of the $0.3 million net deferred tax liability, $6.2 million is included within other long-term assets and $6.5 million is included within long-term liabilities on the Consolidated Balance Sheets. In 2014, the $9.0 million net deferred tax asset was included in its entirety within other long-term assets. As of January 30, 2016, deferred income taxes have not been provided on accumulated, but undistributed earnings, of $31.6 million related to the Company's international subsidiaries. It is the Company's intention to permanently reinvest these earnings outside the United States. The amount of the unrecognized tax liability related to the undistributed earnings as of January 30, 2016 is estimated to be $10.9 million. As of January 30, 2016, the total liability for uncertain tax positions, including related interest and penalties, was approximately $12.7 million. The following table represents a reconciliation of the Company's total balance of unrecognized tax benefits, excluding interest and penalties (in thousands):
| 2015 |  | 2014 |  | 2013
Beginning of fiscal year | $ | 8,376 |  |  | $ | 7,507 |  |  | $ | 10,670 |
Increases as a result of tax positions taken in a prior period | 1,101 |  |  | 124 |  |  | 1,651 |
Decreases as a result of tax positions taken in a prior period | — |  |  | — |  |  | (2,240 | )
Increases as a result of tax positions taken in the current period | 1,193 |  |  | 1,057 |  |  | 985 |
Decreases as a result of settlements during the current period | (63 | ) |  | (312 | ) |  | (3,559 | )
Reductions as a result of a lapse of statute of limitations during the current period | (823 | ) |  | — |  |  | — |
End of fiscal year | $ | 9,784 |  |  | $ | 8,376 |  |  | $ | 7,507 |
The balance at January 30, 2016 includes $6.4 million of unrecognized tax benefits that would impact our effective tax rate if recognized. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense. As of January 30, 2016, the liability for uncertain tax positions includes $2.9 million for the accrual of interest and penalties. During fiscal 2015, 2014 and 2013, the Company recorded $1.2 million, $0.3 million and $0.9 million, respectively, for the accrual of interest and penalties in the Consolidated Statements of Income. The Company has federal, state and local examinations currently ongoing. It is possible that these examinations may be resolved within 12 months. Due to the potential for resolution of these examinations, and the expiration of various statutes of limitation, it is reasonably possible that $5.7 million of the Company's gross unrecognized tax benefits and interest at January 30, 2016 could be recognized within the next 12 months. The Company does not anticipate that changes in its unrecognized tax benefits will have a material impact on the Consolidated Statements of Income during fiscal 2016. The Company participates in the Internal Revenue Service ("IRS") Compliance Assurance Program ("CAP"). As part of the CAP, tax years are audited on a contemporaneous basis so that all or most issues are resolved prior to the filing of the tax return. The IRS has completed examinations of 2014 and all prior tax years. The Company is no longer subject to examination in any of its major state jurisdictions for years prior to 2008.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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