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Income Taxes
 9 Months Ended
Oct. 28, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The provision for income taxes is based on the current estimate of the annual effective tax rate and is adjusted as necessary for quarterly events.
For the third quarter of 2023, the Company’s effective tax rate was 25.3% compared to 23.3% in the third quarter of 2022. The 2023 third quarter rate was consistent with the Company’s combined estimated federal and state statutory rates. The 2022 third quarter rate was lower than the Company’s combined estimated federal and state statutory rates primarily due to the resolution of certain tax matters during the quarter.
For year-to-date 2023, the Company’s effective tax rate was 24.9% compared to 21.9% for year-to-date 2022. The 2023 year-to-date rate was consistent with the Company’s combined estimated federal and state statutory rates. The 2022 year-to-date rate was lower than the Company’s combined estimated federal and state statutory rates primarily due to the resolution of certain tax matters during the period.
Income taxes paid were $45 million and $18 million for the third quarters of 2023 and 2022, respectively. Income taxes paid were $213 million and $170 million for year-to-date 2023 and 2022, respectively.