Taxes on Earnings (Tables)

12 Months Ended

Jan. 31, 2026

Income Tax Disclosure [Abstract]

Schedule for Income Tax Provision

The provision for income taxes for fiscal 2025, 2024, and 2023 consisted of the following:

($000)	2025 1		1	2024		2023
Current
Federal	$	508,923		$	580,253	$	532,913
State	113,803			95,369		85,169
	622,726			675,622		618,082
Deferred
Federal	68,901			(7,016)		(16,265)
State	5,486			(2,182)		(4,556)
	74,387			(9,198)		(20,821)
Total	$	697,113		$	666,424	$	597,261
1 Foreign income taxes were not material to the consolidated financial statements in fiscal 2025.

Schedule of Provision for Taxes Effective Rate

The provision for taxes for financial reporting purposes is different from the tax provision computed by applying the U.S. federal statutory income tax rate. For fiscal 2025, 2024, and 2023, the differences are reconciled in the tables below:

($000)	2025
	Amount		Percent
Federal income taxes at the statutory rate	$	596,853	21.0	%
State and local income taxes, net of federal income tax effect1	94,238		3.3	%
Other adjustments	6,022		0.2	%
Total	$	697,113	24.5	%
1 State taxes in California contributed to the majority of the tax effect in this category.

	2024		2023
Federal income taxes at the statutory rate	21.0	%	21.0	%
State and local income taxes, net of federal income tax effect, and other	3.2	%	3.2	%
Total	24.2	%	24.2	%

Schedule of Components of Deferred Income Taxes

The components of deferred taxes at January 31, 2026 and February 1, 2025 are as follows:

($000)	2025		2024
Deferred Tax Assets
Accrued liabilities	$	33,414	$	32,819
Deferred compensation	48,790		45,689
Stock-based compensation	51,814		53,995
State taxes and credits	20,618		20,534
Employee benefits	34,156		29,549
Operating lease liabilities	923,093		870,577
Other	9,056		9,633
Gross Deferred Tax Assets	1,120,941		1,062,796
Less: Valuation allowance	(116)		(583)
Deferred Tax Assets	1,120,825		1,062,213
Deferred Tax Liabilities
Depreciation and amortization	(441,213)		(364,320)
Merchandise inventory	(24,977)		(26,004)
Supplies	(15,866)		(14,873)
Operating lease assets	(878,287)		(826,425)
Other	(21,909)		(17,631)
Deferred Tax Liabilities	(1,382,252)		(1,249,253)
Net Deferred Tax Liabilities	$	(261,427)	$	(187,040)

Schedule of Unrecognized Tax Benefits Roll Forward

The changes in amounts of unrecognized tax benefits (gross of federal tax benefits and excluding interest and penalties) at fiscal 2025, 2024, and 2023 are as follows:

($000)	2025		2024		2023
Unrecognized tax benefits - beginning of year	$	54,291	$	52,379	$	53,544
Gross increases:
Tax positions in current period	12,159		13,100		13,206
Tax positions in prior period	2,516		1,163		2,295
Gross decreases:
Tax positions in prior periods	(426)		(3,405)		(4,366)
Lapse of statutes of limitations	(13,059)		(8,820)		(11,148)
Settlements	(1,382)		(126)		(1,152)
Unrecognized tax benefits - end of year	$	54,099	$	54,291	$	52,379

Schedule of Supplemental Cash Flow

The following table presents the supplemental cash flow disclosures for Income taxes paid, net for fiscal 2025:

($000)	2025 1
Federal	$	493,259
California	60,872
Other states	51,434
Total Income taxes paid, net	$	605,565
1 Foreign income taxes paid were not material to the consolidated financial statements in fiscal 2025.