Income Taxes (Tables)

12 Months Ended

Jan. 29, 2016

Income Taxes

Effective Income Tax Rate Reconciliation

The following is a reconciliation of the federal statutory tax rate to the effective tax rate:

	2015		2014		2013
Statutory federal income tax rate	35.0	%	35.0	%	35.0	%
State income taxes, net of federal tax benefit	3.6		3.3		2.9
Valuation allowance - impairment	4.2		—		—
Other, net	(0.4	)	(1.4	)	(0.1	)
Effective tax rate	42.4	%	36.9	%	37.8	%

Components of Income Tax Provision

The components of the income tax provision are as follows:

(In millions)	2015			2014			2013
Current:
Federal	$	1,688		$	1,475		$	1,342
State	248			221			203
Total current	1,936			1,696			1,545
Deferred:
Federal	(59		)	(112		)	(133		)
State	(4		)	(6		)	(25		)
Total deferred	(63		)	(118		)	(158		)
Total income tax provision	$	1,873		$	1,578		$	1,387

Deferred Tax Assets and Liabilities

The tax effects of cumulative temporary differences that gave rise to the deferred tax assets and liabilities were as follows:

(In millions)	January 29, 2016			January 30, 2015
Deferred tax assets:
Self-insurance	$	369		$	378
Share-based payment expense	83			81
Deferred rent	91			88
Impairment of equity method investment	270			—
Foreign currency translation	107			62
Net operating losses	159			152
Other, net	156			131
Total deferred tax assets	1,235			892
Valuation allowance	(447		)	(170		)
Net deferred tax assets	788			722
Deferred tax liabilities:
Property	(507		)	(534		)
Other, net	(40		)	(55		)
Total deferred tax liabilities	(547		)	(589		)
Net deferred tax asset	$	241		$	133

Unrecognized Tax Benefits Reconciliation

A reconciliation of the beginning and ending balances of unrecognized tax benefits is as follows:

(In millions)	2015			2014			2013
Unrecognized tax benefits, beginning of year	$	7		$	62		$	63
Additions for tax positions of prior years	—			2			—
Reductions for tax positions of prior years	(2		)	(57		)	—
Settlements	(2		)	—			(1		)
Unrecognized tax benefits, end of year	$	3		$	7		$	62