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Income Taxes (Tables)

12 Months Ended

Feb. 01, 2020

Income Tax Disclosure [Abstract]

Earnings Before Income Taxes

Income before income taxes was as follows for Fiscal 2019, Fiscal 2018 and Fiscal 2017:

		(in thousands)
		Year Ended
		February 1, 2020				February 2, 2019				February 3, 2018 (53 Weeks)
Domestic		$	573,399			$	503,290			$	429,939
Foreign			7,126				4,294				(959	)
Total income before income taxes		$	580,525			$	507,584			$	428,980

Income Tax Expense

Income tax expense was as follows for Fiscal 2019, Fiscal 2018 and Fiscal 2017:

		(in thousands)
		Year Ended
		February 1, 2020				February 2, 2019				February 3, 2018 (53 Weeks)
Current:
Federal		$	83,521			$	69,007			$	65,824
State			20,778				19,642				8,824
Foreign			2,040				1,671				207
Subtotal			106,339				90,320				74,855
Deferred:
Federal			8,375				8,337				(40,839	)
State			1,012				(8,409	)			9,091
Foreign			(317	)			2,591				1,021
Subtotal			9,070				2,519				(30,727	)
Total Income Tax Expense		$	115,409			$	92,839			$	44,128

Tax Rate Reconciliations

The tax rate reconciliations were as follows for Fiscal 2019, Fiscal 2018 and Fiscal 2017:

		Fiscal Year Ended
		February 1, 2020				February 2, 2019				February 3, 2018 (53 Weeks)
Tax at statutory rate			21.0	%			21.0	%			33.7	%
State income taxes, net of federal			4.0				4.2				3.0
Excess tax benefit from stock compensation			(5.3	)			(5.2	)			(4.4	)
Tax credits			(1.0	)			(1.2	)			(1.4	)
Impact of federal tax reform			—				—				(21.1	)
Other			1.2				(0.5	)			0.5
Effective tax rate			19.9	%			18.3	%			10.3	%

Tax Effects of Temporary Differences Included in Deferred Tax Accounts

The tax effects of temporary differences are included in deferred tax accounts as follows:

		(in thousands)
		February 1, 2020								February 2, 2019
		Tax Assets				Tax Liabilities				Tax Assets				Tax Liabilities
Non-current deferred tax assets and liabilities:
Property and equipment basis adjustments		$	—			$	171,949			$	—			$	149,705
Operating lease liability			682,104				—				—				—
Operating lease asset			—				645,240				—				—
Deferred rent			—				—				19,496				—
Intangibles—long-lived			—				—				—				40,918
Intangibles—indefinite-lived			—				64,842				—				65,197
Employee benefit compensation			14,933				—				15,186				—
State net operating losses (net of federal benefit)			9,346				—				12,290				—
Landlord allowances			—				—				35,907				—
Tax credits			8,154				—				6,140				—
Other			—				274				2,651				—
Valuation allowance			(9,842	)			—				(10,268	)			—
Total non-current deferred tax assets and liabilities		$	704,695			$	882,305			$	81,402			$	255,820
Net deferred tax liability						$	177,610							$	174,418

Reconciliation of Beginning and Ending Amount of Gross Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits (exclusive of interest and penalties) is as follows:

		(in thousands)
		Gross Unrecognized Tax Benefits, Exclusive of Interest and Penalties
Balance at January 28, 2017		$	9,193
Additions for tax positions of the current year			72
Additions for tax positions of prior years			882
Reduction for tax positions of prior years			(973	)
Settlements			—
Lapse of statute of limitations			(101	)
Balance at February 3, 2018		$	9,073
Additions for tax positions of the current year			18
Additions for tax positions of prior years			698
Reduction for tax positions of prior years			(782	)
Settlements			—
Lapse of statute of limitations			(80	)
Balance at February 2, 2019		$	8,927
Additions for tax positions of the current year			—
Additions for tax positions of prior years			—
Reduction for tax positions of prior years			(783	)
Settlements			—
Lapse of statute of limitations			(67	)
Balance at February 1, 2020		$	8,077

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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 income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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