XML 50 R34.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Feb. 03, 2024
Income Taxes [Abstract] |
Reconciliation of Federal Statutory Income Tax Rate to Income Tax Expense |
| 2024 |  | 2023 |  | 2022
Federal income tax at the statutory rate | $ | 340 |  |  | $ | 376 |  |  | $ | 635 |
State income taxes, net of federal benefit |  | 57 |  |  |  | 63 |  |  |  | 88 |
Change in unrecognized tax benefits |  | (6) |  |  |  | (45) |  |  |  | (88) |
Benefit from foreign operations |  | (8) |  |  |  | (4) |  |  |  | (8) |
Other |  | (2) |  |  |  | (20) |  |  |  | (53) |
Income tax expense | $ | 381 |  |  | $ | 370 |  |  | $ | 574 |
Effective income tax rate |  | 23.5 | % |  |  | 20.7 | % |  |  | 19.0 | %
Earning Before Income Tax Expense and Equity in Income of Affiliates |
| 2024 |  | 2023 |  | 2022
United States | $ | 1,389 |  |  | $ | 1,533 |  |  | $ | 2,677 |
Foreign |  | 232 |  |  |  | 255 |  |  |  | 347 |
Earnings before income tax expense and equity in income of affiliates | $ | 1,621 |  |  | $ | 1,788 |  |  | $ | 3,024 |
Income Tax Expense (Benefit) |
| 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |  |  |  |  |  |  |
Federal | $ | 452 |  |  | $ | 213 |  |  | $ | 367 |
State |  | 104 |  |  |  | 64 |  |  |  | 132 |
Foreign |  | 39 |  |  |  | 42 |  |  |  | 61 |
|  | 595 |  |  |  | 319 |  |  |  | 560 |
Deferred: |  |  |  |  |  |  |  |  |  |  |
Federal |  | (177) |  |  |  | 33 |  |  |  | 22 |
State |  | (37) |  |  |  | 19 |  |  |  | (9) |
Foreign |  | - |  |  |  | (1) |  |  |  | 1 |
|  | (214) |  |  |  | 51 |  |  |  | 14 |
Income tax expense | $ | 381 |  |  | $ | 370 |  |  | $ | 574 |
Deferred Income Tax Assets and Liabilities |
| February 3, 2024 |  | January 28, 2023
Deferred revenue | $ | 127 |  |  | $ | 67 |
Compensation and benefits |  | 91 |  |  |  | 41 |
Stock-based compensation |  | 32 |  |  |  | 29 |
Other accrued expenses |  | 45 |  |  |  | 47 |
Operating lease liabilities |  | 730 |  |  |  | 729 |
Loss and credit carryforwards |  | 173 |  |  |  | 161 |
Other |  | 42 |  |  |  | 43 |
Total deferred tax assets |  | 1,240 |  |  |  | 1,117 |
Valuation allowance |  | (175) |  |  |  | (150) |
Total deferred tax assets after valuation allowance |  | 1,065 |  |  |  | 967 |
Inventory |  | (45) |  |  |  | (37) |
Property and equipment |  | (49) |  |  |  | (169) |
Operating lease assets |  | (701) |  |  |  | (698) |
Goodwill and intangibles |  | (81) |  |  |  | (71) |
Other |  | (22) |  |  |  | (39) |
Total deferred tax liabilities |  | (898) |  |  |  | (1,014) |
Net deferred tax assets (liabilities) | $ | 167 |  |  | $ | (47) |
Deferred taxes were presented as follows ($ in millions):
Balance Sheet Location | February 3, 2024 |  | January 28, 2023
Other assets | $ | 167 |  |  | $ | 4 |
Long-term liabilities |  | - |  |  |  | (51) |
Net deferred tax assets (liabilities) | $ | 167 |  |  | $ | (47) |
Reconciliation of Changes in Unrecognized Tax Benefits | (1)
| 2024 |  | 2023 |  | 2022
Balances at beginning of period | $ | 163 |  |  | $ | 235 |  |  | $ | 327 |
Gross increases related to prior period tax positions |  | 10 |  |  |  | 28 |  |  |  | 3 |
Gross decreases related to prior period tax positions(1) |  | (11) |  |  |  | (75) |  |  |  | (103) |
Gross increases related to current period tax positions |  | 20 |  |  |  | 21 |  |  |  | 28 |
Settlements with taxing authorities |  | (3) |  |  |  | - |  |  |  | (7) |
Lapse of statute of limitations |  | (39) |  |  |  | (46) |  |  |  | (13) |
Balances at end of period | $ | 140 |  |  | $ | 163 |  |  | $ | 235 |
(1)Represents multi-jurisdiction, multi-year resolutions of certain discrete tax matters.

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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -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 income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 19 -SubTopic 10 -Topic 740 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-19 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration