Income Taxes (Tables)

12 Months Ended

Jan. 29, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision for income taxes was comprised of the following:

(In thousands)	2021		2020		2019
Current:
U.S. Federal	$	26,888	$	206,883	$	15,495
U.S. State and local	8,138		60,947		7,215
Total current tax expense	35,026		267,830		22,710
Deferred:
U.S. Federal	13,651		(40,848)		48,613
U.S. State and local	5,356		(11,567)		3,761
Total deferred tax expense	19,007		(52,415)		52,374
Income tax provision	$	54,033	$	215,415	$	75,084

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Reconciliation between the statutory federal income tax rate and the effective income tax rate was as follows:

	2021		2020		2019
Statutory federal income tax rate	21.0	%	21.0	%	21.0	%
Effect of:
State and local income taxes, net of federal tax benefit	4.6		4.6		2.7
Executive compensation limitations - permanent difference	1.8		0.2		0.4
Work opportunity tax and other employment tax credits	(1.4)		(0.3)		(0.8)
Excess tax (benefit) detriment from share-based compensation	(2.3)		0.2		0.4
Other, net	(0.4)		(0.2)		(0.1)
Effective income tax rate	23.3	%	25.5	%	23.6	%

Schedule of Income Taxes Paid [Table Text Block]

Income tax payments and refunds were as follows:

(In thousands)	2021		2020		2019
Income taxes paid	$	111,206	$	217,308	$	29,375
Income taxes refunded	(546)		(1,522)		(2,313)
Net income taxes paid	$	110,660	$	215,786	$	27,062

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Significant components of our deferred tax assets and liabilities were as follows:

(In thousands)	January 29, 2022		January 30, 2021
Deferred tax assets:
Lease liabilities, net of lease incentives	$	474,584	$	449,058
Depreciation and fixed asset basis differences	40,302		37,117
Sale and leaseback financing liability	33,508		32,263
Uniform inventory capitalization	22,734		24,050
Workers’ compensation and other insurance reserves	22,097		20,692
Compensation related	12,703		20,171
Accrued payroll taxes related to CARES Act	4,674		9,367
Accrued state taxes	2,557		4,045
State tax credits, net of federal tax benefit	2,285		2,470
Accrued operating liabilities	2,145		4,011
Other	13,740		14,500
Valuation allowances, net of federal tax benefit	(2,093)		(2,105)
Total deferred tax assets	629,236		615,639
Deferred tax liabilities:
Right-of-use assets, net of amortization	441,786		421,801
Accelerated depreciation and fixed asset basis differences	120,224		111,427
Synthetic lease obligation	38,582		34,438
Deferred gain on like-kind exchange	14,476		14,809
Lease construction reimbursements	8,333		9,216
Prepaid expenses	5,143		4,539
Workers’ compensation and other insurance reserves	4,493		3,591
Other	6,639		7,251
Total deferred tax liabilities	639,676		607,072
Net deferred tax (liabilities) assets	$	(10,440)	$	8,567

Deferred Tax Assets and Liabilities by Jurisdiction [Table Text Block]

Our deferred tax assets and deferred tax liabilities, netted by tax jurisdiction, are summarized in the table below:

(In thousands)	January 29, 2022		January 30, 2021
U.S. Federal	$	(21,413)	$	(7,762)
U.S. State and local	10,973		16,329
Net deferred tax (liabilities) assets	$	(10,440)	$	8,567

Summary of Tax Credit Carryforwards [Table Text Block]

We have the following income tax loss and credit carryforwards at January 29, 2022 (amounts are shown net of tax excluding the federal income tax effect of the state and local items):

(In thousands)
U.S. State and local:
State net operating loss carryforwards	$	28	Expires predominately during fiscal year 2041
California enterprise zone credits	2,748		Predominately expires fiscal year 2023
Other state credits	144		Expires fiscal years through 2025
Total income tax loss and credit carryforwards	$	2,920

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits for 2021, 2020, and 2019:

(In thousands)	2021		2020		2019
Unrecognized tax benefits - beginning of year	$	9,465	$	10,760	$	11,986
Gross increases - tax positions in current year	410		728		976
Gross increases - tax positions in prior period	1,864		745		1,031
Gross decreases - tax positions in prior period	(1,039)		(1,871)		(2,333)
Settlements	(125)		(20)		(484)
Lapse of statute of limitations	(713)		(877)		(416)
Unrecognized tax benefits - end of year	$	9,862	$	9,465	$	10,760