XML 47 R23.htm IDEA: XBRL DOCUMENT
v3.25.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Feb. 01, 2025
Income Tax Disclosure [Abstract] |
Schedule of Components of Deferred Income Taxes | Deferred income taxes consist of the following:
(Dollars in Millions) | February 1, 2025 | February 3, 2024
Deferred tax liabilities: |  |
Property and equipment | $431 | $521
Lease assets | 1,024 | 1,151
Merchandise inventories | 31 | 45
Total deferred tax liabilities | 1,486 | 1,717
Deferred tax assets: |  |
Lease obligations | 1,336 | 1,468
Accrued and other liabilities, including stock-based compensation | 188 | 200
Federal benefit on state tax reserves | 16 | 21
Valuation allowance | (44) | (47)
Total deferred tax assets | 1,496 | 1,642
Net deferred tax (asset) liability | $(10) | $75
Schedule of Components of Provision (Benefit) for Income Taxes | The components of the Provision (benefit) for income taxes were as follows:
(Dollars in Millions) | 2024 | 2023 | 2022
Current federal | $87 | $78 | $39
Current state | 3 | (14) | 6
Deferred federal | (79) | (18) | (70)
Deferred state | (6) | 10 | (14)
Provision (benefit) for income taxes | $5 | $56 | $(39)
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:
(Dollars in Millions) | 2024 | 2023 | 2022
Taxes computed at federal statutory rate | $24 | $78 | $(12)
State income taxes, net of federal tax benefit | 6 | 16 | (1)
Uncertain tax positions | (13) | (28) | (16)
Federal tax credits | (9) | (9) | (8)
Other | (3) | (1) | (2)
Total | $5 | $56 | $(39)
Effective tax rate | 3.9% | 15.1% | 68.1%
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) | 2024 | 2023
Balance at beginning of year | $200 | $219
Increases due to tax positions taken in prior years | 2 | 10
Increases due to tax positions taken in current year | 7 | 6
Decreases due to: |  |
Tax positions taken in prior years | (17) | (32)
Settlements with taxing authorities | (5) | —
Lapse of applicable statute of limitations | (3) | (3)
Balance at end of year | $184 | $200

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 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