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Income Taxes (Tables) | 12 Months Ended
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Feb. 01, 2020
Income Tax Disclosure [Abstract] |
Components of Income Before Income Taxes from Continuing Operations | The components of income before income taxes from continuing operations were:
|  | For the Years Ended |
|  | February 1, |  |  | February 2, |  |  | February 3, |
(In thousands) |  | 2020 |  |  | 2019 |  |  | 2018 |
U.S. |  | $ | 229,906 |  |  | $ | 308,424 |  |  | $ | 255,621 |
Foreign |  |  | 15,372 |  |  |  | 36,676 |  |  |  | 31,552 |
Total |  | $ | 245,278 |  |  | $ | 345,100 |  |  | $ | 287,173 |
Components of Deferred Tax Assets and Liabilities | The significant components of the Company’s deferred tax assets and liabilities were as follows:
|  | February 1, |  |  | February 2, |
(in thousands) |  | 2020 |  |  | 2019 |
Deferred tax assets: |  |  |  |  |  |  |  |
Operating lease ROU assets |  | $ | 406,473 |  |  | $ | — |
Inventories |  |  | 9,908 |  |  |  | 9,276 |
Deferred compensation |  |  | 9,005 |  |  |  | 8,874 |
Accruals not currently deductible |  |  | 7,332 |  |  |  | 7,675 |
State tax credits |  |  | 7,092 |  |  |  | 7,216 |
Net operating loss |  |  | 5,983 |  |  |  | 8,757 |
Employee compensation and benefits |  |  | 3,176 |  |  |  | 12,476 |
Foreign tax credits |  |  | 1,056 |  |  |  | 564 |
Rent (under ASC 840) |  |  | — |  |  |  | 21,649 |
Other |  |  | 5,580 |  |  |  | 5,000 |
Gross deferred tax assets |  |  | 455,605 |  |  |  | 81,487 |
Valuation allowance |  |  | (5,861 | ) |  |  | (6,992 | )
Total deferred tax assets |  | $ | 449,744 |  |  | $ | 74,495 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Operating lease liabilities |  | $ | (370,617 | ) |  | $ | — |
Property and equipment |  |  | (50,288 | ) |  |  | (53,774 | )
Prepaid expenses |  |  | (2,996 | ) |  |  | (4,128 | )
Other |  |  | (3,119 | ) |  |  | (2,531 | )
Total deferred tax liabilities |  | $ | (427,020 | ) |  | $ | (60,433 | )
Total deferred tax assets, net |  | $ | 22,724 |  |  | $ | 14,062 |
Components of Provision for Income Taxes from Continuing Operations | Significant components of the provision for income taxes from continuing operations were as follows:
|  | For the Years Ended |
|  | February 1, |  |  | February 2, |  |  | February 3, |
(In thousands) |  | 2020 |  |  | 2019 |  |  | 2018 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 25,745 |  |  | $ | 60,453 |  |  | $ | 31,763 |
Foreign taxes |  |  | 8,137 |  |  |  | 7,343 |  |  |  | 3,404 |
State |  |  | 13,598 |  |  |  | 19,815 |  |  |  | 9,600 |
Total current |  |  | 47,480 |  |  |  | 87,611 |  |  |  | 44,767 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 12,289 |  |  | $ | (148 | ) |  | $ | 36,345 |
Foreign taxes |  |  | (1,213 | ) |  |  | (2,367 | ) |  |  | (1,130 | )
State |  |  | (4,535 | ) |  |  | (1,898 | ) |  |  | 3,028 |
Total deferred |  |  | 6,541 |  |  |  | (4,413 | ) |  |  | 38,243 |
Provision for income taxes |  | $ | 54,021 |  |  | $ | 83,198 |  |  | $ | 83,010 |
Activity Related to Unrecognized Tax Benefits | The following table summarizes the activity related to our unrecognized tax benefits:
|  | For the Years Ended |
(In thousands) |  | February 1, 2020 |  |  | February 2, 2019 |  |  | February 3, 2018 |
Unrecognized tax benefits, beginning of the year balance |  | $ | 6,534 |  |  | $ | 7,286 |  |  | $ | 7,093 |
Increases in current period tax positions |  |  | 422 |  |  |  | 565 |  |  |  | 1,913 |
Increases in tax positions of prior periods |  |  | 151 |  |  |  | 2,279 |  |  |  | 624 |
Settlements |  |  | (2,223 | ) |  |  | (1,397 | ) |  |  | (744 | )
Lapse of statute of limitations |  |  | (720 | ) |  |  | (545 | ) |  |  | (517 | )
Decreases in tax positions of prior periods |  |  | (1,383 | ) |  |  | (1,654 | ) |  |  | (1,083 | )
Unrecognized tax benefits, end of the year balance |  | $ | 2,781 |  |  | $ | 6,534 |  |  | $ | 7,286 |
Reconciliation Between Statutory Federal Income Tax Rate and Effective Income Tax Rate from Continuing Operations | A reconciliation between the statutory federal income tax rate and the effective income tax rate from continuing operations follows:
|  | For the Years Ended |
|  | February 1, |  |  | February 2, |  |  | February 3, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Federal income tax rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 33.7 | %
State income taxes, net of federal income tax effect |  |  | 3.6 |  |  |  | 3.8 |  |  |  | 2.9 |
Foreign rate differential |  |  | (0.6 | ) |  |  | (0.7 | ) |  |  | (1.9 | )
Impact of Tax Act |  |  | (2.1 | ) |  |  | (0.6 | ) |  |  | (3.0 | )
Valuation allowance changes, net |  |  | 0.3 |  |  |  | 0.4 |  |  |  | (0.2 | )
Change in unrecognized tax benefits |  |  | 0.1 |  |  |  | (0.2 | ) |  |  | 0.3 |
Other |  |  | (0.3 | ) |  |  | 0.4 |  |  |  | (2.9 | )
|  |  | 22.0 | % |  |  | 24.1 | % |  |  | 28.9 | %

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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- 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 -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 + Details
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