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Income Taxes (Tables)
 12 Months Ended
Jan. 31, 2026
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign
The following table provides the components of the Company’s Income Before Income Taxes for 2025, 2024 and 2023:
202520242023
(in millions)
U.S. $817 $962 $937 
Non-U.S. 65 66 84 
Income Before Income Taxes$882 $1,028 $1,021 
Provision for Income Taxes
The following table provides the components of the Company’s Provision for Income Taxes for 2025, 2024 and 2023:
202520242023
 (in millions)
Current:
U.S. Federal$127 $281 $214 
U.S. State35 54 49 
Non-U.S.8 8 7 
Total170 343 270 
Deferred:
U.S. Federal41 (121)(19)
U.S. State2 (6)(2)
Non-U.S.20 14 (106)
Total63 (113)(127)
Provision for Income Taxes$233 $230 $143 
Reconciliation of the Statutory Federal Income Tax Rate and the Effective Tax Rate
The following table provides the reconciliation between the statutory federal income tax rate and the effective tax rate for 2025:
2025
(in millions)%
Provision for Income Taxes at U.S. Federal Statutory Tax Rate$185 21.0%
State and Local Income Taxes, Net of Federal Income Tax Effect (a)34 3.8%
Foreign Tax Effects14 1.6%
Effect of Cross-Border Tax Laws(3)(0.3%)
Tax Credits(3)(0.3%)
Changes in Valuation Allowances1 0.1%
Nontaxable or Nondeductible Items5 0.5%
Changes in Unrecognized Tax Benefits— —%
Effective Tax Rate$233 26.4%
 ________________
(a) State and local taxes in California, New York, Illinois, New Jersey, Tennessee, Florida, and Pennsylvania contributed to the majority of the tax effect in this category.
The following table provides the reconciliation between the statutory federal income tax rate and the effective tax rate for 2024 and 2023:
20242023
Federal Income Tax Rate21.0%21.0%
State Income Taxes, Net of Federal Income Tax Effect4.4%4.0%
Impact of Non-U.S. Operations0.9%0.2%
Change in Valuation Allowance(4.2%)(11.0%)
Share-based Compensation —%0.1%
Uncertain Tax Positions0.3%—%
Other Items, Net—%(0.4%)
Effective Tax Rate22.4%13.9%
Effect of Temporary Differences that Cause Deferred Income Taxes
The following table provides the effect of temporary differences that cause deferred income taxes as of January 31, 2026 and February 1, 2025:
 January 31, 2026February 1, 2025
AssetsLiabilitiesTotalAssetsLiabilitiesTotal
(in millions)
Loss Carryforwards$338 $— $338 $367 $— $367 
Leases248 (236)12 260 (247)13 
Capitalized Research and Development— — — 37 — 37 
Share-based Compensation8 — 8 8 — 8 
Property and Equipment10 (130)(120)7 (122)(115)
Trade Names — (38)(38)— (38)(38)
Other, Net62 (12)50 55 (11)44 
Valuation Allowance(203)— (203)(210)— (210)
Total Deferred Income Taxes$463 $(416)$47 $524 $(418)$106 
Schedule of Cash Flow, Supplemental Disclosures
The following table provides the components of the Company's income tax payments (net of refunds received) for 2025, 2024 and 2023:
202520242023
(in millions)
U.S. Federal$177 $294 $181 
U.S. State36 50 45 
Non-U.S.10 7 5 
Income Tax Payments$223 $351 $231 
Schedule of Unrecognized Tax Benefits Roll Forward
The following table summarizes the activity related to the Company’s unrecognized tax benefits for U.S. federal, state and non-U.S. tax jurisdictions for 2025, 2024 and 2023, without interest and penalties:
202520242023
(in millions)
Gross Unrecognized Tax Benefits, as of the Beginning of the Fiscal Year$149 $145 $149 
Increases to Unrecognized Tax Benefits for Prior Years— 1 1 
Decreases to Unrecognized Tax Benefits for Prior Years— (3)(7)
Increases to Unrecognized Tax Benefits as a Result of Current Year Activity4 12 5 
Decreases to Unrecognized Tax Benefits Relating to Settlements with Taxing Authorities(14)— (1)
Decreases to Unrecognized Tax Benefits as a Result of a Lapse of the Applicable Statute of Limitations(8)(6)(2)
Gross Unrecognized Tax Benefits, as of the End of the Fiscal Year$131 $149 $145