XML 67 R43.htm IDEA: XBRL DOCUMENT
v3.25.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Feb. 01, 2025
Income Tax Disclosure [Abstract] |
Schedule of components of the provision for income taxes | The components of the provision for income taxes are as follows for the fiscal years presented (in thousands):
| 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |
Federal | $ | 292,197 |  |  | $ | 212,369 |  |  | $ | 253,776 |
State | 76,366 |  |  | 55,920 |  |  | 63,734 |
Total current provision | 368,563 |  |  | 268,289 |  |  | 317,510 |
Deferred: |  |  |  |  |
Federal | (13,255) |  |  | 4,301 |  |  | 15,074 |
State | (1,583) |  |  | (958) |  |  | 8,026 |
Total deferred provision | (14,838) |  |  | 3,343 |  |  | 23,100 |
Total provision | $ | 353,725 |  |  | $ | 271,632 |  |  | $ | 340,610 |
Reconciliation of the federal statutory income tax rate to the effective income tax rate | The Company’s effective income tax rate differs from the federal statutory rate as follows for the fiscal years presented:
| 2024 |  | 2023 |  | 2022
Federal statutory rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State tax, net of federal benefit | 4.2 | % |  | 4.2 | % |  | 4.1 | %
Excess tax benefit related to stock-based compensation | (1.8) | % |  | (4.9) | % |  | (1.9) | %
Eliminated bond hedge deduction following Convertible Senior Notes exchanges | — | % |  | 0.2 | % |  | 1.6 | %
Other permanent items | (0.1) | % |  | 0.1 | % |  | (0.2) | %
Effective income tax rate | 23.3 | % |  | 20.6 | % |  | 24.6 | %
Schedule of the components of deferred tax assets (liabilities) | Components of deferred tax assets (liabilities) consist of the following as of the end of the fiscal years presented (in thousands):
| 2024 |  | 2023
Operating lease liabilities | $ | 782,953 |  |  | $ | 725,656 |
Inventory | 57,793 |  |  | 50,840 |
Employee benefits and withholdings | 49,653 |  |  | 47,780 |
Stock-based compensation | 18,395 |  |  | 16,440 |
Gift cards | 24,946 |  |  | 22,364 |
Deferred revenue currently taxable | 1,295 |  |  | 864 |
Other accrued expenses not currently deductible for tax purposes | 16,338 |  |  | 15,896 |
Net operating loss carryforward | — |  |  | 55 |
Non income-based tax reserves | 4,317 |  |  | 4,984 |
Uncertain income tax positions | 1,397 |  |  | 965 |
Insurance | 3,589 |  |  | 3,438 |
Intangibles | 1,443 |  |  | — |
Other | 1,932 |  |  | 1,596 |
Total deferred tax assets | 964,051 |  |  | 890,878 |
Operating lease assets | (605,401) |  |  | (577,599) |
Property and equipment | (274,823) |  |  | (243,150) |
Inventory valuation | (27,849) |  |  | (26,676) |
Intangibles | — |  |  | (2,087) |
Prepaid expenses | (3,294) |  |  | (3,520) |
Total deferred tax liabilities | (911,367) |  |  | (853,032) |
Net deferred tax asset | $ | 52,684 |  |  | $ | 37,846 |
Schedule of reconciliation of the Company's total unrecognized tax benefits balances, excluding interest and penalties | The following table provides a reconciliation of the Company’s total balance of unrecognized tax benefits, excluding interest and penalties (in thousands):
| 2024 |  | 2023 |  | 2022
Beginning of fiscal year | $ | 2,851 |  |  | $ | 1,058 |  |  | $ | 1,058 |
Increases as a result of tax positions taken in a prior period | 3,201 |  |  | 1,463 |  |  | 6 |
Decreases as a result of tax positions taken in a prior period | (1,058) |  |  | — |  |  | — |
Increases as a result of tax positions taken in the current period | 1,364 |  |  | — |  |  | — |
Increases as a result of settlements during the current period | — |  |  | 364 |  |  | — |
Decreases as a result of settlements during the current period | (108) |  |  | (34) |  |  | (6) |
Reductions as a result of a lapse of statute of limitations during the current period | — |  |  | — |  |  | — |
End of fiscal year | $ | 6,250 |  |  | $ | 2,851 |  |  | $ | 1,058 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration