XML 58 R39.htm IDEA: XBRL DOCUMENT v3.25.1

Income Taxes (Tables)

12 Months Ended

Feb. 01, 2025

Income Tax Disclosure [Abstract]

Components of Income (Loss) Before Income Taxes

		Fiscal Years Ending
		February 1,				February 3,				January 28,
(In thousands)		2025				2024				2023
U.S.		$	453,098			$	208,283			$	138,023
Foreign			(10,864	)			31,575				40,471
Total		$	442,234			$	239,858			$	178,494

Components of Deferred Tax Assets and Liabilities

The significant components of the Company’s deferred tax assets and liabilities are as follows:

		Fiscal Years Ending
		February 1,				February 3,
(In thousands)		2025				2024
Deferred tax assets:
Operating lease ROU assets		$	361,549			$	305,043
Capitalized research and development expenses			28,121				22,014
Employee compensation and benefits			19,820				25,576
Net Operating Loss			12,470				25,071
Accruals not currently deductible			10,508				10,041
Deferred compensation			10,261				9,737
Other long-term assets			8,145				8,169
State tax credits			6,839				7,741
Gift card liability			6,239				5,723
Inventories			6,231				8,828
Impairment of investments			4,659				4,673
Allowance for Doubtful Accounts			2,180				3,114
Other			1,020				690
Foreign tax credits			955				955
General Business Credits			116				116
Gross deferred tax assets		$	479,113			$	437,491
Valuation allowance			(18,998	)			(27,466	)
Total deferred tax assets		$	460,115			$	410,025
Deferred tax liabilities:
Operating lease liabilities		$	(319,488	)		$	(253,229	)
Property and equipment			(64,429	)			(69,030	)
Prepaid expenses			(5,561	)			(3,572	)
Goodwill			(1,937	)			(1,981	)
Other			(542	)			(149	)
Total deferred tax liabilities		$	(391,957	)		$	(327,961	)
Total deferred tax assets, net		$	68,158			$	82,064

Components of Provision (Benefit) for Income Taxes

Significant components of the provision (benefit) for income taxes are as follows:

		Fiscal Years Ending
		February 1,				February 3,				January 28,
(In thousands)		2025				2024				2023
Current:
Federal		$	32,249			$	66,112			$	(986	)
Foreign taxes			52,224				27,958				19,701
State			18,633				19,206				3,594
Total current			103,106				113,276				22,309
Deferred:
Federal		$	9,940			$	(31,602	)		$	26,758
Foreign taxes			(3,766	)			(6,317	)			(1,374	)
State			3,574				(5,537	)			5,665
Total deferred			9,748				(43,456	)			31,049
Provision for income taxes		$	112,854			$	69,820			$	53,358

Activity Related to Unrecognized Tax Benefits

The following table summarizes the activity related to our unrecognized tax benefits:

		Fiscal Years Ending
		February 1,				February 3,				January 28,
(In thousands)		2025				2024				2023
Unrecognized tax benefits, beginning of the year    balance		$	3,974			$	2,478			$	3,259
Increases in current period tax positions			157				2,371				681
Increases in tax positions of prior periods			16,428				10				—
Settlements			(10,620	)			(275	)			(454	)
Lapse of statute of limitations			(73	)			(75	)			(277	)
Decreases in tax positions of prior periods			(32	)			(535	)			(731	)
Unrecognized tax benefits, end of the year balance		$	9,834			$	3,974			$	2,478

Reconciliation Between Statutory Federal Income Tax Rate and Effective Income Tax Rate

A reconciliation between the statutory federal income tax rate and the effective income tax rate follows:

		Fiscal Years Ending
		February 1,				February 3,				January 28,
		2025				2024				2023
Federal income tax rate			21.0	%			21.0	%			21.0	%
State income taxes, net of federal income tax effect			3.7				4.4				3.6
Foreign rate differential			0.6				0.2				0.9
International provisions of Tax Act			(1.3	)			(2.2	)			0.1
Valuation allowance changes, net			0.7				0.5				0.5
Non-deductible executive compensation			1.3				3.8				2.0
Change in unrecognized tax benefits			0.7				0.8				(0.1	)
Share Based Payments			(0.5	)			0.2				(0.2	)
Note Exchanges			0.0				0.0				1.4
Non-deductible goodwill			0.0				3.5				0.0
Federal Credits			(0.8	)			(2.1	)			(0.4	)
Other			0.1				(1.0	)			1.1
			25.5	%			29.1	%			29.9	%

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://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

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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-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://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

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 217
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-217

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration