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v3.25.1

Income Taxes (Tables) | 12 Months Ended
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Feb. 01, 2025
Income Taxes [Abstract] |
Reconciliation of Federal Statutory Income Tax Rate to Income Tax Expense |
| 2025 |  | 2024 |  | 2023
Federal income tax at the statutory rate | $ | 272 |  |  | $ | 340 |  |  | $ | 376 |
State income taxes, net of federal benefit |  | 52 |  |  |  | 57 |  |  |  | 63 |
Change in unrecognized tax benefits |  | (5) |  |  |  | (6) |  |  |  | (45) |
Expense (benefit) from foreign operations |  | 3 |  |  |  | (5) |  |  |  | (2) |
Tax credits |  | (23) |  |  |  | (13) |  |  |  | (8) |
Goodwill impairments (non-deductible) |  | 63 |  |  |  | - |  |  |  | - |
Other |  | 10 |  |  |  | 8 |  |  |  | (14) |
Income tax expense | $ | 372 |  |  | $ | 381 |  |  | $ | 370 |
Effective income tax rate |  | 28.7 | % |  |  | 23.5 | % |  |  | 20.7 | %
Earning Before Income Tax Expense and Equity in Income of Affiliates |
| 2025 |  | 2024 |  | 2023
United States | $ | 1,095 |  |  | $ | 1,389 |  |  | $ | 1,533 |
Foreign |  | 200 |  |  |  | 232 |  |  |  | 255 |
Earnings before income tax expense and equity in income of affiliates | $ | 1,295 |  |  | $ | 1,621 |  |  | $ | 1,788 |
Income Tax Expense (Benefit) |
| 2025 |  | 2024 |  | 2023
Current: |  |  |  |  |  |  |  |  |  |  |
Federal | $ | 341 |  |  | $ | 452 |  |  | $ | 213 |
State |  | 67 |  |  |  | 104 |  |  |  | 64 |
Foreign |  | 23 |  |  |  | 39 |  |  |  | 42 |
|  | 431 |  |  |  | 595 |  |  |  | 319 |
Deferred: |  |  |  |  |  |  |  |  |  |  |
Federal |  | (55) |  |  |  | (177) |  |  |  | 33 |
State |  | (7) |  |  |  | (37) |  |  |  | 19 |
Foreign |  | 3 |  |  |  | - |  |  |  | (1) |
|  | (59) |  |  |  | (214) |  |  |  | 51 |
Income tax expense | $ | 372 |  |  | $ | 381 |  |  | $ | 370 |
Deferred Income Tax Assets and Liabilities |
| February 1, 2025 |  | February 3, 2024
Deferred revenue | $ | 125 |  |  | $ | 127 |
Compensation and benefits |  | 75 |  |  |  | 91 |
Stock-based compensation |  | 29 |  |  |  | 32 |
Other accrued expenses |  | 46 |  |  |  | 45 |
Operating lease liabilities |  | 758 |  |  |  | 730 |
Loss and credit carryforwards |  | 163 |  |  |  | 173 |
Property and equipment |  | 57 |  |  |  | - |
Other |  | 48 |  |  |  | 42 |
Total deferred tax assets |  | 1,301 |  |  |  | 1,240 |
Valuation allowance |  | (172) |  |  |  | (175) |
Total deferred tax assets after valuation allowance |  | 1,129 |  |  |  | 1,065 |
Inventory |  | (92) |  |  |  | (45) |
Property and equipment |  | - |  |  |  | (49) |
Operating lease assets |  | (734) |  |  |  | (701) |
Goodwill and intangible assets |  | (61) |  |  |  | (81) |
Other |  | (19) |  |  |  | (22) |
Total deferred tax liabilities |  | (906) |  |  |  | (898) |
Net deferred tax assets | $ | 223 |  |  | $ | 167 |
Reconciliation of Changes in Unrecognized Tax Benefits |
| 2025 |  | 2024 |  | 2023
Balances at beginning of period | $ | 140 |  |  | $ | 163 |  |  | $ | 235 |
Gross increases related to prior period tax positions |  | 13 |  |  |  | 10 |  |  |  | 28 |
Gross decreases related to prior period tax positions(1) |  | (10) |  |  |  | (11) |  |  |  | (75) |
Gross increases related to current period tax positions |  | 20 |  |  |  | 20 |  |  |  | 21 |
Settlements with taxing authorities |  | 1 |  |  |  | (3) |  |  |  | - |
Lapse of statute of limitations |  | (19) |  |  |  | (39) |  |  |  | (46) |
Balances at end of period | $ | 145 |  |  | $ | 140 |  |  | $ | 163 |
(1)Represents multi-jurisdiction, multi-year resolutions of certain discrete tax matters.

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- 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
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- 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
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