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Income Taxes (Tables)

12 Months Ended

Feb. 03, 2018

Income Tax Disclosure [Abstract]

Provision for Income Taxes

The following table provides the components of the Company’s provision for income taxes for fiscal 2017, 2016 and 2015:

	2017				2016				2015
	(in millions)
Current:
U.S. Federal	$	366			$	345			$	553
U.S. State	49				62				96
Non-U.S.	22				21				21
Total	437				428				670
Deferred:
U.S. Federal	(114		)		99				17
U.S. State	6				8				6
Non-U.S.	—				3				(12		)
Total	(108		)		110				11
Provision for Income Taxes	$	329			$	538			$	681

Reconciliation of the Statutory Federal Income Tax Rate and the Effective Tax Rate

The following table provides the reconciliation between the statutory federal income tax rate and the effective tax rate for fiscal 2017, 2016 and 2015:

	2017			2016			2015
Federal Income Tax Rate	33.7	%		35.0	%		35.0	%
State Income Taxes, Net of Federal Income Tax Effect	3.6	%		3.4	%		3.4	%
Impact of Non-U.S. Operations	(1.5	)%		(1.2	)%		(1.7	)%
U.S. Net Deferred Tax Liability Remeasurement	(12.1	)%		—	%		—	%
Deemed Mandatory Repatriation	5.1	%		—	%		—	%
Share-Based Compensation	(1.0	)%		—	%		—	%
Foreign Portion of the Divestiture of Third-party Apparel Sourcing Business	—	%		—	%		(0.9	)%
Resolution of Certain Tax Matters	(0.9	)%		(4.0	)%		—	%
Other Items, Net	(1.8	)%		(1.5	)%		(0.6	)%
Effective Tax Rate	25.1	%		31.7	%		35.2	%

Effect of Temporary Differences that Cause Deferred Income Taxes

The following table provides the effect of temporary differences that cause deferred income taxes as of February 3, 2018 and January 28, 2017. Deferred tax assets and liabilities represent the future effects on income taxes resulting from temporary differences and carryforwards at the end of the respective year.

	February 3, 2018												January 28, 2017
	Assets				Liabilities				Total				Assets				Liabilities				Total
	(in millions)
Leases	$	47			$	—			$	47			$	68			$	—			$	68
Non-qualified Retirement Plan	62				—				62				96				—				96
Property and Equipment	—				(266		)		(266		)		—				(413		)		(413		)
Goodwill	—				(10		)		(10		)		—				(15		)		(15		)
Trade Names and Other Intangibles	—				(91		)		(91		)		—				(141		)		(141		)
State Net Operating Loss Carryforwards	14				—				14				15				—				15
Non-U.S. Operating Loss Carryforwards	188				—				188				155				—				155
Valuation Allowance	(212		)		—				(212		)		(174		)		—				(174		)
Other, Net	44				—				44				76				—				76
Total Deferred Income Taxes	$	143			$	(367	)		$	(224	)		$	236			$	(569	)		$	(333	)

Activity Related to Unrecognized Tax Benefits

The following table summarizes the activity related to the Company’s unrecognized tax benefits for U.S. federal, state & non-U.S. tax jurisdictions for 2017, 2016 and 2015, without interest and penalties:

	2017				2016				2015
	(in millions)
Gross Unrecognized Tax Benefits, as of the Beginning of the Fiscal Year	$	90			$	248			$	193
Increases in Unrecognized Tax Benefits for Prior Years	3				3				8
Decreases in Unrecognized Tax Benefits for Prior Years	(22		)		(73		)		(3		)
Increases in Unrecognized Tax Benefits as a Result of Current Year Activity	7				18				54
Decreases to Unrecognized Tax Benefits Relating to Settlements with Taxing Authorities	(2		)		(98		)		—
Decreases to Unrecognized Tax Benefits as a Result of a Lapse of the Applicable Statute of Limitations	(9		)		(8		)		(4		)
Gross Unrecognized Tax Benefits, as of the End of the Fiscal Year	$	67			$	90			$	248

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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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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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.

+ References

Reference 1: 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=84230637&loc=d3e32537-109319

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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
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-Paragraph 15
-Subparagraph (d)
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