Income Taxes (Tables)

12 Months Ended

Jan. 30, 2016

Schedule of components of the provision for income taxes

The components of the provision for income taxes are as follows for the fiscal periods ended (in thousands):



	2015		2014			2013
Current:
Federal	$	164,165	$	187,735		$	156,177
State	27,076		30,340			27,769
	191,241		218,075			183,946
Deferred:
Federal	8,198		(5,740		)	23,499
State	1,045		(519		)	1,064
	9,243		(6,259		)	24,563
Total provision	$	200,484	$	211,816		$	208,509

Reconciliation of the federal statutory income tax rate to the effective income tax rate

The provision for income taxes differs from the amounts computed by applying the federal statutory rate as follows for the following periods:



	2015		2014		2013
Federal statutory rate	35.0	%	35.0	%	35.0	%
State tax, net of federal benefit	3.5	%	3.1	%	3.5	%
Valuation allowance	(0.1	)%	—	%	(0.4	)%
Other permanent items	(0.6	)%	—	%	0.1	%
Effective income tax rate	37.8	%	38.1	%	38.2	%

Schedule of the components of deferred tax assets (liabilities)

Components of deferred tax assets (liabilities) consist of the following as of the fiscal periods ended (in thousands):



	2015			2014
Inventory	$	45,442		$	42,163
Employee benefits	37,295			34,167
Deferred rent	36,485			31,234
Stock-based compensation	26,843			25,913
Gift cards	15,884			13,691
Other accrued expenses not currently deductible for tax purposes	9,532			5,520
Capital loss carryforward	5,304			5,608
Non income-based tax reserves	5,274			8,174
Deferred revenue currently taxable	4,957			4,837
Store closing expense	4,569			4,984
Uncertain income tax positions	4,253			3,524
Insurance	2,280			2,432
Other	179			77
Valuation allowance	(5,304		)	(5,608		)
Total deferred tax assets	192,993			176,716
Property and equipment	(152,287		)	(134,057		)
Inventory	(35,095		)	(27,386		)
Intangibles	(5,900		)	(6,319		)
Total deferred tax liabilities	(193,282		)	(167,762		)
Net deferred tax (liability) asset	$	(289	)	$	8,954

Schedule of reconciliation of the Company's total unrecognized tax benefits balances, excluding interest and penalties

The following table represents a reconciliation of the Company's total balance of unrecognized tax benefits, excluding interest and penalties (in thousands):



	2015			2014			2013
Beginning of fiscal year	$	8,376		$	7,507		$	10,670
Increases as a result of tax positions taken in a prior period	1,101			124			1,651
Decreases as a result of tax positions taken in a prior period	—			—			(2,240		)
Increases as a result of tax positions taken in the current period	1,193			1,057			985
Decreases as a result of settlements during the current period	(63		)	(312		)	(3,559		)
Reductions as a result of a lapse of statute of limitations during the current period	(823		)	—			—
End of fiscal year	$	9,784		$	8,376		$	7,507