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Income Taxes (Tables) | 12 Months Ended
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Jan. 30, 2021
Income Tax Disclosure [Abstract] |
Schedule of Components of Deferred Income Taxes | Deferred income taxes consist of the following:
(Dollars in Millions) | January 30, 2021 | February 1, 2020
Deferred tax liabilities: |  |  |  |  |  |  |  |  |  |
Property and equipment | $ | 718 |  |  | $ | 611 |  |
Lease assets |  | 821 |  |  |  |  | 816 |  |
Merchandise inventories |  | 46 |  |  |  | 76 |  |
Total deferred tax liabilities |  |  | 1,585 |  |  |  |  | 1,503 |  |
Deferred tax assets: |  |  |  |  |  |  |  |  |  |
Lease obligations |  |  | 1,093 |  |  |  |  | 1,110 |  |
Accrued and other liabilities, including stock-based compensation |  | 244 |  |  |  | 144 |  |
Federal benefit on state tax reserves |  |  | 30 |  |  |  |  | 30 |  |
Valuation allowance |  | (42 | ) |  |  | (23 | ) |
Total deferred tax assets |  |  | 1,325 |  |  |  |  | 1,261 |  |
Net deferred tax liability | $ | 260 |  |  | $ | 242 |  |
Schedule of Components of (Benefit) Provision for Income Taxes | The components of the (benefit) provision for income taxes were as follows:
(Dollars in Millions) | 2020 | 2019 | 2018
Current federal |  | $ | (439) |  |  | $ | 128 |  |  | $ | 229 |
Current state |  |  | 38 |  |  |  | 31 |  |  |  | 43 |
Deferred federal |  |  | 69 |  |  |  | 60 |  |  |  | (36 | )
Deferred state |  |  | (51) |  |  |  | (9 | ) |  |  | 5 |
(Benefit) provision for income taxes |  | $ | (383) |  |  | $ | 210 |  |  | $ | 241 |
Schedule of Items Affecting Statutory Corporate Tax Rate | The effective tax rate differs from the amount that would be provided by applying the statutory U.S. corporate tax rate due to the following items:
| 2020 | 2019 | 2018
Federal statutory rate |  |  | 21.0 | % |  |  |  | 21.0 | % |  |  |  | 21.0 | %
State income taxes, net of federal tax benefit |  |  | 2.1 |  |  |  |  | 3.1 |  |  |  |  | 3.7 |
Federal NOL carryback |  |  | 66.0 |  |  |  |  | — |  |  |  |  | — |
Uncertain tax positions |  |  | (19.4 | ) |  |  |  | 0.6 |  |  |  |  | (0.2 | )
Federal tax credits |  |  | 0.4 |  |  |  |  | (1.2 | ) |  |  |  | (1.0 | )
Other |  |  | 0.1 |  |  |  |  | (0.2 | ) |  |  |  | (0.3 | )
Effective tax rate |  |  | 70.2 | % |  |  |  | 23.3 | % |  |  |  | 23.2 | %
Schedule of Reconciliation of Gross Amount of Unrecognized Tax Benefits | A reconciliation of the beginning and ending gross amount of unrecognized tax benefits is as follows:
(Dollars in Millions) | 2020 | 2019
Balance at beginning of year |  | $ | 135 |  |  | $ | 133 |
Increases due to tax positions taken in prior years |  |  | — |  |  |  | 7 |
Increases due to tax positions taken in current year |  |  | 177 |  |  |  | 12 |
Decreases due to: |  |  |  |  |  |  |  |
Tax positions taken in prior years |  |  | (9 | ) |  |  | (14 | )
Settlements with taxing authorities |  |  | (4 | ) |  |  | — |
Lapse of applicable statute of limitations |  |  | (1 | ) |  |  | (3 | )
Balance at end of year |  | $ | 298 |  |  | $ | 135 |

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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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- 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 -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 + Details
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- 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 -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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
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