XML 54 R36.htm IDEA: XBRL DOCUMENT
v3.24.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Feb. 03, 2024
Income Tax Disclosure [Abstract] |
Provision for Income Taxes | The following table provides the components of the Company’s provision for income taxes for 2023, 2022 and 2021:
| 2023 |  | 2022 |  | 2021
| (in millions)
Current: |  |  |  |  |
U.S. Federal | $ | 214 |  |  | $ | 180 |  |  | $ | 249 |
U.S. State | 49 |  |  | 48 |  |  | 53 |
Non-U.S. | 7 |  |  | 8 |  |  | 4 |
Total | 270 |  |  | 236 |  |  | 306 |
Deferred: |  |  |  |  |
U.S. Federal | (19) |  |  | 10 |  |  | 24 |
U.S. State | (2) |  |  | — |  |  | 10 |
Non-U.S. | (106) |  |  | 5 |  |  | 8 |
Total | (127) |  |  | 15 |  |  | 42 |
Provision for Income Taxes | $ | 143 |  |  | $ | 251 |  |  | $ | 348 |
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 2023, 2022 and 2021:
| 2023 |  | 2022 |  | 2021
Federal Income Tax Rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State Income Taxes, Net of Federal Income Tax Effect | 4.0 | % |  | 4.1 | % |  | 4.2 | %
Impact of Non-U.S. Operations | 0.2 | % |  | 0.1 | % |  | 0.1 | %
Change in Valuation Allowance | (11.0 | %) |  | — | % |  | — | %
Share-based Compensation | 0.1 | % |  | (0.7 | %) |  | (0.7 | %)
Uncertain Tax Positions | — | % |  | (0.7 | %) |  | (0.5 | %)
Other Items, Net | (0.4 | %) |  | 0.2 | % |  | 0.4 | %
Effective Tax Rate | 13.9 | % |  | 24.0 | % |  | 24.5 | %
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, 2024 and January 28, 2023:
| February 3, 2024 |  | January 28, 2023
| Assets |  | Liabilities |  | Total |  | Assets |  | Liabilities |  | Total
| (in millions)
Loss Carryforwards | $ | 390 |  |  | $ | — |  |  | $ | 390 |  |  | $ | 396 |  |  | $ | — |  |  | $ | 396 |
Leases | 280 |  |  | (266) |  |  | 14 |  |  | 275 |  |  | (261) |  |  | 14 |
Capitalized Research and Development | 30 |  |  | — |  |  | 30 |  |  | 11 |  |  | — |  |  | 11 |
Share-based Compensation | 9 |  |  | — |  |  | 9 |  |  | 9 |  |  | — |  |  | 9 |
Property and Equipment | — |  |  | (141) |  |  | (141) |  |  | — |  |  | (140) |  |  | (140) |
Trade Names | — |  |  | (38) |  |  | (38) |  |  | — |  |  | (38) |  |  | (38) |
Other Assets | — |  |  | (59) |  |  | (59) |  |  | — |  |  | (62) |  |  | (62) |
Other, Net | 56 |  |  | (11) |  |  | 45 |  |  | 56 |  |  | (13) |  |  | 43 |
Valuation Allowance | (253) |  |  | — |  |  | (253) |  |  | (364) |  |  | — |  |  | (364) |
Total Deferred Income Taxes | $ | 512 |  |  | $ | (515) |  |  | $ | (3) |  |  | $ | 383 |  |  | $ | (514) |  |  | $ | (131) |
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 and non-U.S. tax jurisdictions for 2023, 2022 and 2021, without interest and penalties:
| 2023 |  | 2022 |  | 2021
| (in millions)
Gross Unrecognized Tax Benefits, as of the Beginning of the Fiscal Year | $ | 149 |  |  | $ | 147 |  |  | $ | 152 |
Increases to Unrecognized Tax Benefits for Prior Years | 1 |  |  | 14 |  |  | 5 |
Decreases to Unrecognized Tax Benefits for Prior Years | (7) |  |  | (12) |  |  | (12) |
Increases to Unrecognized Tax Benefits as a Result of Current Year Activity | 5 |  |  | 6 |  |  | 21 |
Decreases to Unrecognized Tax Benefits Relating to Settlements with Taxing Authorities | (1) |  |  | (2) |  |  | (3) |
Decreases to Unrecognized Tax Benefits as a Result of a Lapse of the Applicable Statute of Limitations | (2) |  |  | (4) |  |  | (16) |
Gross Unrecognized Tax Benefits, as of the End of the Fiscal Year | $ | 145 |  |  | $ | 149 |  |  | $ | 147 |

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 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