0000745732-20-000016 | 10-K | XBRL Viewer

Summary of Significant Accounting Policies (Schedule Of Basic And Diluted EPS) (Details) - $ / shares shares in Thousands	3 Months Ended								12 Months Ended
	Feb. 01, 2020	Nov. 02, 2019	Aug. 03, 2019	May 04, 2019	Feb. 02, 2019	Nov. 03, 2018	Aug. 04, 2018	May 05, 2018	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Accounting Policies [Abstract]
Basic (in shares)									358,462	369,533	381,174
Basic (in dollars per share)	$ 1.29	$ 1.04	$ 1.15	$ 1.16	$ 1.21	$ 0.92	$ 1.05	$ 1.12	$ 4.63	$ 4.30	$ 3.58
Effect of dilutive common stock equivalents (in shares)									2,720	3,145	3,155
Effect of dilutive common stock equivalents (in dollars per share)									$ (0.03)	$ (0.04)	$ (0.03)
Diluted (in shares)									361,182	372,678	384,329
Diluted (in dollars per share)	$ 1.28	$ 1.03	$ 1.14	$ 1.15	$ 1.20	$ 0.91	$ 1.04	$ 1.11	$ 4.60	$ 4.26	$ 3.55

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

12 Months Ended

Feb. 01, 2020

Nov. 02, 2019

Aug. 03, 2019

May 04, 2019

Feb. 02, 2019

Nov. 03, 2018

Aug. 04, 2018

May 05, 2018

Feb. 01, 2020

Feb. 02, 2019

Feb. 03, 2018

Income Statement [Abstract]

Sales

$ 4,413,445

$ 3,849,117

$ 3,979,869

$ 3,796,642

$ 4,107,388

$ 3,549,608

$ 3,737,926

$ 3,588,619

$ 16,039,073

$ 14,983,541

$ 14,134,732

Costs and Expenses

Cost of goods sold

3,224,237

2,766,432

2,843,850

2,701,668

2,989,744

2,547,331

2,666,983

2,522,219

11,536,187

10,726,277

10,042,638

Selling, general and administrative

601,879

604,605

591,970

558,250

575,969

561,577

554,581

524,423

2,356,704

2,216,550

2,043,698

Interest (income) expense, net

(3,287)

(4,402)

(4,782)

(5,635)

(5,313)

(2,953)

(1,393)

(503)

(18,106)

(10,162)

7,676

Total costs and expenses

3,822,829

3,366,635

3,431,038

3,254,283

3,560,400

3,105,955

3,220,171

3,046,139

13,874,785

12,932,665

12,094,012

Earnings before taxes

590,616

482,482

548,831

542,359

546,988

443,653

517,755

542,480

2,164,288

2,050,876

2,040,720

Provision for taxes on earnings

134,483

111,550

136,110

121,217

105,295

105,545

128,351

124,228

503,360

463,419

677,967

Net earnings

$ 456,133

$ 370,932

$ 412,721

$ 421,142

$ 441,693

$ 338,108

$ 389,404

$ 418,252

$ 1,660,928

$ 1,587,457

$ 1,362,753

^[1]

Earnings per share

Basic (in dollars per share)

$ 1.29

$ 1.04

$ 1.15

$ 1.16

$ 1.21

$ 0.92

$ 1.05

$ 1.12

$ 4.63

$ 4.30

$ 3.58

Diluted (in dollars per share)

$ 1.28

$ 1.03

$ 1.14

$ 1.15

$ 1.20

$ 0.91

$ 1.04

$ 1.11

$ 4.60

$ 4.26

$ 3.55

Weighted average shares outstanding

Basic (in shares)

358,462

369,533

381,174

Diluted (in shares)

361,182

372,678

384,329

[1]	As the result of the adoption of ASU 2016-18, Statement of Cash Flow (Topic 230): Restricted Cash, in fiscal 2018, the prior year amounts were retrospectively adjusted to include restricted cash and cash equivalents. See Note A.

Consolidated Statements of Stockholders' Equity - USD ($)
shares in Thousands, $ in Thousands

Total

Common stock

Additional paid-in capital

Treasury stock

Accumulated other comprehensive income (loss)

Retained earnings

Beginning balance (in shares) at Jan. 28, 2017

391,893

Beginning balance, value at Jan. 28, 2017

$ 2,748,017

$ 3,919

$ 1,215,715

$ (272,846)

$ 91

$ 1,801,138

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net earnings

1,362,753

^[1]

1,362,753

Unrealized investment loss, net

(64)

Common stock issued under stock plans, net of shares used for tax withholding (in shares)

1,214

Common stock issued under stock plans, net of shares used for tax withholding, value

(26,965)

$ 12

18,456

(45,433)

Stock-based compensation

$ 87,417

87,417

Common stock repurchased (in shares)

(13,500)

(13,489)

Common stock repurchased

$ (875,000)

$ (135)

(31,013)

(843,852)

Dividends declared

(247,526)

Ending balance (in shares) at Feb. 03, 2018

379,618

Ending balance, value at Feb. 03, 2018

$ 3,049,308

$ 3,796

1,292,364

(318,279)

2,071,400

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Cash dividends declared per share (in dollars per share)

$ 0.64

Net earnings

$ 1,587,457

1,587,457

Unrealized investment loss, net

(27)

Common stock issued under stock plans, net of shares used for tax withholding (in shares)

1,097

Common stock issued under stock plans, net of shares used for tax withholding, value

(34,272)

$ 11

20,101

(54,384)

Stock-based compensation

$ 95,585

95,585

Common stock repurchased (in shares)

(12,500)

(12,473)

Common stock repurchased

$ (1,075,000)

$ (125)

(32,085)

(1,042,790)

Dividends declared

(337,189)

Ending balance (in shares) at Feb. 02, 2019

368,242

Ending balance, value at Feb. 02, 2019

$ 3,305,746

$ 3,682

1,375,965

(372,663)

2,298,762

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Cash dividends declared per share (in dollars per share)

$ 0.90

Net earnings

$ 1,660,928

1,660,928

Unrealized investment loss, net

Common stock issued under stock plans, net of shares used for tax withholding (in shares)

793

Common stock issued under stock plans, net of shares used for tax withholding, value

(38,456)

$ 8

22,201

(60,665)

Stock-based compensation

$ 95,438

95,438

Common stock repurchased (in shares)

(12,300)

(12,260)

Common stock repurchased

$ (1,275,000)

$ (122)

(35,297)

(1,239,581)

Dividends declared

(369,793)

Ending balance (in shares) at Feb. 01, 2020

356,775

Ending balance, value at Feb. 01, 2020

$ 3,359,249

$ 3,568

$ 1,458,307

$ (433,328)

$ 0

$ 2,330,702

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Cash dividends declared per share (in dollars per share)

$ 1.02

[1]	As the result of the adoption of ASU 2016-18, Statement of Cash Flow (Topic 230): Restricted Cash, in fiscal 2018, the prior year amounts were retrospectively adjusted to include restricted cash and cash equivalents. See Note A.

Taxes on Earnings (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2019	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Income Tax Contingency [Line Items]
Tax benefit from resolution of uncertain tax positions	$ 10,000
Tax benefit recognized from tax settlement			$ 26,000
Blended tax rate		21.00%	21.00%	34.00%
Tax Cuts and Jobs Act of 2017, current income tax benefit				$ 24,900
Tax Cuts and Jobs Act of 2017, remeasurement of deferred tax assets and liabilities, income tax benefit				55,200
Valuation allowance for deferred tax asset		$ (4,590)	$ (4,639)
Reserves for unrecognized tax benefits		67,100	78,800	121,300
Interest related to the reserve for unrecognized tax benefits		7,200	13,000	22,600
Decrease in reserves for tax positions in prior periods	16,200	4,224	260	470
Unrecognized tax benefits reserve, income tax penalties and interest expense	$ 6,600		12,600
Unrecognized tax benefits reserve, decrease			52,400
Impact of recognizing taxes and interest related to unrecognized tax benefits			53,300
Unrecognized tax benefits reduction resulting from lapse of applicable statute of limitations		10,300
State
Income Tax Contingency [Line Items]
Tax credit carryforward		12,800	13,600
Accounting Standards Update 2016-09
Income Tax Contingency [Line Items]
Tax benefits related to employee equity programs		$ 13,300	$ 12,600	$ 16,300

Summary of Significant Accounting Policies

12 Months Ended

Feb. 01, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Business. Ross Stores, Inc. and its subsidiaries (the “Company”) is an off-price retailer of first-quality, in-season, name brand and designer apparel, accessories, footwear, and home fashions for the entire family. At the end of fiscal 2019, the Company operated 1,546 Ross Dress for Less^® (“Ross”) locations in 39 states, the District of Columbia, and Guam, and 259 dd’s DISCOUNTS^® stores in 19 states. The Ross and dd’s DISCOUNTS stores are supported by the Company’s headquarters, buying offices, and its network of distribution centers/warehouses.

Segment reporting. The Company has one reportable segment. The Company’s operations include only activities related to off-price retailing in stores throughout the United States.

Basis of presentation and fiscal year. The consolidated financial statements include the accounts of the Company and its subsidiaries, all of which are wholly-owned. Intercompany transactions and accounts have been eliminated. The Company follows the National Retail Federation fiscal calendar and utilizes a 52-53 week fiscal year whereby the fiscal year ends on the Saturday nearest to January 31. The fiscal years ended February 1, 2020, February 2, 2019 and February 3, 2018 are referred to as fiscal 2019, fiscal 2018, and fiscal 2017, respectively. Fiscal 2017 was a 53-week year. Fiscal 2019 and 2018 were each 52-week years.

Use of accounting estimates. The preparation of consolidated financial statements in conformity with Generally Accepted Accounting Principles in the United States of America (“GAAP”) requires the Company to make estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Company’s significant accounting estimates include valuation reserves for inventory shortage, packaway inventory costs, useful lives of fixed assets, insurance reserves, reserves for uncertain tax positions, and legal claims.

Purchase obligations. As of February 1, 2020, the Company had purchase obligations of approximately $2.7 billion. These purchase obligations primarily consist of merchandise inventory purchase orders, commitments related to construction projects, store fixtures and supplies, and information technology services, transportation, and maintenance contracts.

Cash and cash equivalents. Cash equivalents consist of highly liquid, fixed income instruments purchased with an original maturity of three months or less.

Restricted cash, cash equivalents, and investments. Restricted cash, cash equivalents, and investments serve as collateral for certain insurance obligations of the Company. These restricted funds are invested in bank deposits, money market mutual funds, U.S. Government and agency securities, and corporate securities and cannot be withdrawn from the Company’s account without the prior written consent of the secured parties. The classification between current and long-term is based on the timing of expected payments of the insurance obligations.

The following table provides a reconciliation of cash, cash equivalents, restricted cash and cash equivalents in the Consolidated Balance Sheets that reconcile to the amounts shown on the Consolidated Statements of Cash Flows:


($000)	2019		2018		2017
Cash and cash equivalents	$	1,351,205	$	1,412,912	$	1,290,294
Restricted cash and cash equivalents included in:
Prepaid expenses and other	10,235		11,402		9,412
Other long-term assets	49,970		53,765		53,566
Total restricted cash and cash equivalents	60,205		65,167		62,978
Total cash, cash equivalents and restricted cash and equivalents	$	1,411,410	$	1,478,079	$	1,353,272

In addition to the restricted cash and cash equivalents in the table above, the Company had restricted investments of $0.4 million as of February 2, 2019 included in Prepaid expenses and other in the Consolidated Balance Sheets. The Company had no restricted investments as of February 1, 2020.

Estimated fair value of financial instruments. The carrying value of cash and cash equivalents, short- and long-term investments, restricted cash and cash equivalents, restricted investments, accounts receivable, other long-term assets, accounts payable, and other long-term liabilities approximates their estimated fair value. See Note B and Note D for additional fair value information.

Cash and cash equivalents were $1,351.2 million and $1,412.9 million, at February 1, 2020 and February 2, 2019, respectively, and include bank deposits and money market funds for which the fair value was determined using quoted prices for identical assets in active markets, which are considered to be Level 1 inputs under the fair value measurements and disclosures guidance.

Investments. The Company’s investments are comprised of various debt securities. At February 1, 2020 and February 2, 2019, these investments were classified as available-for-sale and are stated at fair value. Investments are classified as either short- or long-term based on their maturity dates and the Company’s intent. Investments with a maturity of less than one year are classified as short-term. See Note B for additional information.

Merchandise inventory. Merchandise inventory is stated at the lower of cost (determined using a weighted-average basis) or net realizable value. The Company purchases inventory that can either be shipped to stores or processed as packaway merchandise with the intent that it will be warehoused and released to stores at a later date. The timing of the release of packaway inventory to the stores is principally driven by the product mix and seasonality of the merchandise, and its relation to the Company’s store merchandise assortment plans. As such, the aging of packaway varies by merchandise category and seasonality of purchase, but typically packaway remains in storage less than six months. Merchandise inventory includes acquisition, processing, and storage costs related to packaway inventory. The cost of the Company’s merchandise inventory is reduced by valuation reserves for shortage based on historical shortage experience from the Company’s physical merchandise inventory counts and cycle counts.

Cost of goods sold. In addition to product costs, the Company includes in cost of goods sold its buying, distribution, and freight expenses as well as occupancy costs, and depreciation and amortization related to the Company’s retail stores, buying, and distribution facilities. Buying expenses include costs to procure merchandise inventories. Distribution expenses include the cost of operating the Company’s distribution centers, warehouses, and cross-dock facilities.

Property and equipment. Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful life of the asset, typically ranging from three to 12 years for equipment, 20 to 40 years for land improvements and buildings, and three to seven years for computer software costs incurred in developing or obtaining software for internal use. The cost of leasehold improvements is amortized over the useful life of the asset or the applicable lease term, whichever is less. Depreciation and amortization expense on property and equipment was $350.9 million, $330.4 million, and $313.2 million for fiscal 2019, 2018, and 2017, respectively. The Company capitalizes interest during the construction period of facilities and during the development and implementation phase of software projects. Interest capitalized was $4.4 million, $2.5 million, and $0.7 million in fiscal 2019, 2018, and 2017, respectively. As of February 1, 2020, February 2, 2019, and February 3, 2018 the Company had $40.3 million, $33.7 million, and $24.3 million, respectively, of property and equipment purchased but not yet paid. These purchases are included in Property and Equipment and in Accounts payable and Accrued expenses and other in the accompanying Consolidated Balance Sheets.

Other long-term assets. Other long-term assets as of February 1, 2020 and February 2, 2019 consisted of the following:


($000)	2019		2018
Deferred compensation (Note B)	$	141,443	$	124,558
Restricted cash and investments	49,970		53,765


Other	16,908		16,148
Total	$	208,321	$	194,471

Impairment of long-lived assets. Property and other long-term assets that are subject to depreciation and amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable based on estimated undiscounted future cash flows. For stores that are closed, the Company records an impairment charge, if appropriate, or accelerates depreciation over the revised useful life of the asset. Intangible assets that are not subject to amortization, including goodwill, are tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset may be impaired. Based on the Company’s evaluation during fiscal 2019, 2018, and 2017, no impairment charges were recorded.

Accounts payable. Accounts payable represents amounts owed to third parties at the end of the period. Accounts payable includes book cash overdrafts (checks issued under zero balance accounts not yet presented for payment) in excess of cash balances in such accounts of approximately $138.8 million and $83.2 million at February 1, 2020 and February 2, 2019, respectively. The Company includes the change in book cash overdrafts in operating cash flows.

Insurance obligations. The Company uses a combination of insurance and self-insurance for a number of risk management activities, including workers’ compensation, general liability, and employee-related health care benefits. The self-insurance and deductible liability is determined actuarially, based on claims filed and an estimate of claims incurred but not yet reported. Self-insurance and deductible reserves as of February 1, 2020 and February 2, 2019 consisted of the following:


($000)	2019		2018
Workers’ compensation	$	87,063	$	89,993
General liability	44,371		42,877
Medical plans	6,430		6,515
Total	$	137,864	$	139,385

Workers’ compensation and self-insured medical plan liabilities are included in Accrued payroll and benefits and accruals for general liability are included in Accrued expenses and other in the accompanying Consolidated Balance Sheets.

Other long-term liabilities. Other long-term liabilities as of February 1, 2020 and February 2, 2019 consisted of the following:


($000)	2019			2018
Income taxes (Note F)	$	65,956		$	77,872
Deferred compensation (Note G)	141,443			124,558
Deferred rent	—		¹	81,442
Tenant improvement allowances	—		¹	25,418
Other	6,687			12,423
Total	$	214,086		$	321,713

¹ Fiscal 2019 reflects the impact of adoption of ASU 2016-02, Leases (Accounting Standards Codification "ASC" 842) on a modified retrospective basis; fiscal 2018 was not restated.

Lease accounting. As the Company’s leases generally do not provide an implicit discount rate, the Company uses the estimated collateralized incremental borrowing rate based on information available at the lease commencement date in determining the present value of lease payments for use in the calculation of the operating lease liabilities and right-of-use assets. This rate is determined using a portfolio approach based on the risk-adjusted rate of interest and requires estimates and assumptions including credit rating, credit spread, and adjustments for the impact of collateral. The Company believes that this is the rate it would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar lease term. Operating lease liabilities and corresponding right-of-use assets include options to extend lease terms that are reasonably certain of being exercised. The Company does not record a lease liability and corresponding right-of-use asset for leases with terms of 12 months or less, and accounts for lease and non-lease components as a single lease component. The Company's lease portfolio is comprised of operating leases with the lease cost recorded on a straight-line basis over the lease term.

Prior to the adoption of Accounting Standards Codification "ASC" 842 in the beginning of fiscal 2019, when a lease contained “rent holidays” or required fixed escalations of the minimum lease payments, the Company recorded rental expense on a straight-line basis over the term of the lease and the difference between the average rental amount was charged to expense and the amount payable under the lease was recorded as deferred rent. The Company began recording rent expense on the lease possession date. Tenant improvement allowances were amortized over the lease term. Changes in deferred rent and tenant improvement allowances were included as a component of operating activities in the Consolidated Statements of Cash Flows.

Revenue recognition. The Company recognizes revenue at the point of sale, net of sales taxes collected and an allowance for estimated future returns as required by ASU No. 2014-09, Revenue from Contracts with Customers (ASC 606). The Company recognizes allowances for estimated sales returns on a gross basis as a reduction to sales. The asset recorded for the expected recovery of merchandise inventory was $10.7 million and $10.2 million and the liability recorded for the refund due to the customer was $20.9 million and $19.8 million as of February 1, 2020 and February 2, 2019, respectively. Prior to the adoption of ASC 606, the Company recognized allowances for sales returns on a net margin basis, which was $9.9 million as of February 3, 2018. Sales taxes collected that are outstanding and the allowance for estimated future returns are included in Accrued expenses and other and the asset for expected recovery of merchandise is included in Prepaid expenses and other in the Consolidated Balance Sheets.

Sales of stored value cards are deferred until they are redeemed for the purchase of Company merchandise. The Company’s stored value cards do not have expiration dates. Based upon historical redemption rates, a small percentage of stored value cards will never be redeemed, which represents breakage. As a result of adopting ASC 606, breakage is estimated and recognized as revenue based upon the historical pattern of customer redemptions. In prior periods, breakage was recorded as a reduction of operating expense when customer redemption was considered remote. Breakage was not material to the consolidated financial statements in fiscal 2019, 2018, and 2017.

The following sales mix table disaggregates revenue by merchandise category for fiscal 2019, 2018, and 2017:


	2019		2018		2017
Ladies	26	%	26	%	27	%
Home Accents and Bed and Bath	25	%	26	%	26	%
Men’s	14	%	14	%	13	%
Accessories, Lingerie, Fine Jewelry, and Fragrances	13	%	13	%	13	%
Shoes	13	%	13	%	13	%
Children’s	9	%	8	%	8	%
Total	100	%	100	%	100	%

Store pre-opening. Store pre-opening costs are expensed in the period incurred.

Advertising. Advertising costs are expensed in the period incurred and are included in Selling, general and administrative expenses. Advertising costs for fiscal 2019, 2018, and 2017 were $74.0 million, $79.9 million, and $76.4 million, respectively.

Stock-based compensation. The Company recognizes compensation expense based upon the grant date fair value of all stock-based awards, typically over the vesting period. See Note C for more information on the Company’s stock-based compensation plans.

Taxes on earnings. The Company accounts for income taxes in accordance with ASC 740, “Accounting for Income Taxes,” which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company’s consolidated financial statements or tax returns. In estimating future tax consequences, the Company generally considers all expected future events other than changes in the tax law or tax rates. ASC 740 clarifies the criteria that an individual tax position must satisfy for some or all of the benefits of that position to be recognized in a company’s consolidated financial statements. ASC 740 prescribes a recognition threshold of more-likely-than-not, and a measurement standard for all tax positions taken or expected to be taken on a tax return, in order for those tax positions to be recognized in the consolidated financial statements. See Note F.

Treasury stock. The Company records treasury stock at cost. Treasury stock includes shares purchased from employees for tax withholding purposes related to vesting of restricted stock grants.

Earnings per share (“EPS”). The Company computes and reports both basic EPS and diluted EPS. Basic EPS is computed by dividing net earnings by the weighted-average number of common shares outstanding for the period. Diluted EPS is computed by dividing net earnings by the sum of the weighted-average number of common shares and dilutive common stock equivalents outstanding during the period. Diluted EPS reflects the total potential dilution that could occur from outstanding equity plan awards, including unexercised stock options and unvested shares of both performance and non-performance based awards of restricted stock.

In fiscal 2019, 2018, and 2017 there were 27,400, 23,700, and 2,800 weighted-average shares, respectively, that were excluded from the calculation of diluted EPS because their effect would have been anti-dilutive for those years.

The following is a reconciliation of the number of shares (denominator) used in the basic and diluted EPS computations:


Shares in (000s)	Basic EPS		Effect of dilutive common stock equivalents		Diluted EPS
2019
Shares	358,462		2,720		361,182
Amount	$	4.63	$	(0.03)	$	4.60
2018
Shares	369,533		3,145		372,678
Amount	$	4.30	$	(0.04)	$	4.26
2017
Shares	381,174		3,155		384,329
Amount	$	3.58	$	(0.03)	$	3.55

Comprehensive income. Comprehensive income includes net earnings and components of other comprehensive income (loss), net of tax, consisting of unrealized investment gains or losses.

Recently issued accounting standards. The Company considers the applicability and impact of all Accounting Standards Updates (“ASU”) issued by the FASB. ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on the Company's consolidated financial results.

Recently adopted accounting standards. In February 2016, the FASB issued ASU 2016-02, Leases (ASC 842), which along with subsequent amendments, supersedes the lease accounting requirements in ASC 840, Leases. The updated guidance requires balance sheet recognition for all leases with lease terms greater than one year including a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term.

The Company adopted ASC 842 as of February 3, 2019 (the "effective date"), using the optional transition method on a modified retrospective basis. The Company did not elect the transitional package of practical expedients or the use of hindsight upon adoption of the ASC. The Company elected to not record a lease liability and corresponding right-of-use asset for leases with terms of 12 months or less, and to account for lease and non-lease components as a single lease component. Upon adoption, the Company recorded lease liabilities based on the present value of the remaining minimum rental payments, using incremental borrowing rates as of the effective date, of $2.9 billion, and the corresponding right-of-use assets of $2.9 billion. The Company also recorded a cumulative-effect adjustment to decrease beginning retained earnings of $19.6 million, primarily related to the write-off of previously capitalized initial direct costs that are no longer capitalized under ASC 842, partially offset by the write-off of the deferred gain on a previous sale-leaseback transaction that meets the sale definition under ASC 842. Reporting periods beginning on or after February 3, 2019 are presented under ASC 842, while prior period amounts and disclosures were not adjusted and continue to be reported under ASC 840. Adoption of ASC 842 did not have a significant impact to the Company’s consolidated statements of earnings or to the consolidated statements of cash flows.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (ASC 606) which, along with subsequent amendments, supersedes the revenue recognition requirements in “Revenue Recognition (ASC 605).” This guidance provides a five-step analysis of transactions to determine when and how revenue is recognized and requires entities to recognize revenue when the customer obtains control of promised goods or services in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. The Company adopted ASC 606 as of February 4, 2018, using the modified retrospective method. Results for reporting periods beginning on or after February 4, 2018 are presented under ASC 606, while prior period amounts were not adjusted and continue to be reported in accordance with ASC 605. Upon adoption of ASC 606, the Company recorded a cumulative-effect adjustment to increase beginning retained earnings by $20 million as of February 4, 2018, primarily due to the change in the timing of the recognition of stored value card breakage. The impact of applying ASC 606 was not material to the Company's consolidated financial statements for the year ended February 2, 2019.

In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. ASU 2016-18 requires restricted cash and restricted cash equivalents be included with cash and cash equivalents when reconciling the total beginning and ending amounts on the statement of cash flows. The standard also requires companies who report cash and restricted cash separately on the balance sheet to reconcile those amounts to the statement of cash flows. The Company adopted ASU 2016-18 as of February 4, 2018, using the retrospective method.

In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718) - Improvements to Employee Share-Based Payment Accounting. ASU 2016-09 provides for changes to accounting for stock compensation including 1) excess tax benefits and tax deficiencies related to share-based payment awards will be recognized as income tax benefit or expense in the reporting period in which they occur (previously such amounts were recognized in additional paid-in capital); 2) excess tax benefits will be classified as an operating activity in the statement of cash flows; and 3) the option to elect to estimate forfeitures or account for them when they occur. The impact of recording excess tax benefits in income taxes in the Company's consolidated statement of earnings may be material, depending upon the Company's future stock price on vest date in relation to the fair value of awards on grant date and the future grants of stock-based compensation.

The Company adopted ASU 2016-09 in the first quarter of fiscal 2017, and elected to apply this adoption prospectively, except for forfeitures which it adopted on a modified retrospective basis. Accordingly, prior periods have not been adjusted. As a result of adoption, for the fiscal year ended February 3, 2018, the Company recognized $16.3 million of excess tax benefits related to stock-based payments as a reduction to its provision for income taxes. These items were historically recorded in additional paid-in capital. The Company also presented cash flows related to excess tax benefits as an operating activity in the Consolidated Statement of Cash Flows and elected to account for forfeitures as incurred beginning on January 29, 2017. The impact of this accounting policy

election for forfeitures was a cumulative-effect adjustment to decrease retained earnings by $1.1 million as of January 29, 2017.

Reclassifications. Certain items related to income taxes in the prior year’s consolidated statements of cash flows have been reclassified to conform to the current year's presentation.

Lease (Future Minimum Annual Lease Payments) (Details) $ in Thousands	Feb. 01, 2020 USD ($)
Leases [Abstract]
2020	$ 555,812
2021	580,712
2022	499,678
2023	424,695
2024	339,340
Thereafter	1,575,673
Total minimum lease payments	$ 3,975,910

Stockholders' Equity

12 Months Ended

Feb. 01, 2020

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Common stock. In March 2019, the Company's Board of Directors approved a two-year $2.55 billion stock repurchase program through fiscal 2020. As of the end of fiscal 2019, the Company has $1.275 billion remaining under the stock repurchase program. Due to the current economic uncertainty stemming from the severe impact of the COVID-19 pandemic, the Company is temporarily suspending its stock repurchase program. In February 2017, the Company’s Board of Directors approved a two-year $1.75 billion stock repurchase program through fiscal 2018. In March 2018, the Company’s Board of Directors approved an increase in the stock repurchase authorization for fiscal 2018 by $200 million to $1.075 billion, up from the previously available $875 million.

The following table summarizes the Company’s stock repurchase activity in fiscal 2019, 2018, and 2017:


Fiscal Year	Shares repurchased (in millions)	Average repurchase price	Repurchased (in millions)
2019	12.3	$103.99	$1,275
2018	12.5	$86.19	$1,075
2017	13.5	$64.87	$875

Preferred stock. The Company has 4.0 million shares of preferred stock authorized, with a par value of $.01 per share. No preferred stock is issued or outstanding.

Dividends. On March 3, 2020, the Company’s Board of Directors declared a quarterly cash dividend of $0.285 per common share, payable on March 31, 2020. The Company’s Board of Directors declared cash dividends of $0.255 per common share in March, May, August, and November 2019, cash dividends of $0.225 per common share in March, May, August, and November 2018, and cash dividends of $0.160 per common share in February, May, August, and November 2017.

2017 Equity Incentive Plan. On May 17, 2017, the Company’s stockholders approved the Ross Stores, Inc. 2017 Equity Incentive Plan (the “2017 Plan”) which replaced the Company’s 2008 Equity Incentive Plan (“Predecessor Plan”). The 2017 Plan, which was authorized to issue a maximum of 12.0 million shares, was immediately effective upon approval and no further awards were granted under the Predecessor Plan, which was terminated.

The 2017 Plan has an initial share reserve of 12.0 million shares of the Company’s common stock which can be increased by a maximum of 5.5 million shares from certain expired, withheld, or forfeited shares from the 2017 Plan or the Predecessor Plan. The 2017 Plan provides for various types of incentive awards, which may potentially include the grant of stock options, stock appreciation rights, restricted stock purchase rights, restricted stock bonuses, restricted stock units, performance shares, performance units, and deferred compensation awards. As of February 1, 2020, there were 10.7 million shares available for grant under the 2017 Plan.

A summary of restricted stock and performance share award activity for fiscal 2019 is presented below:


	Number of shares (000)	Weighted-average grant date fair value

Unvested at February 2, 2019	5,130	$62.50
Awarded	1,422	95.25
Released	(1,782)	53.14
Forfeited	(376)	70.90
Unvested at February 1, 2020	4,394	$76.20

The market value of shares of restricted stock and performance shares at the date of grant is amortized to expense over the vesting period of generally three to five years. The unamortized compensation expense at February 1, 2020 and February 2, 2019 was $158.4 million and $138.1 million, respectively, which is expected to be recognized over a weighted-average remaining period of 2.0 years. Intrinsic value for restricted stock, defined as the closing market value on the last business day of fiscal year 2019 (or $112.19), was $493.0 million. A total of 10.7 million, 11.2 million, and 11.9 million shares were available for new restricted stock awards at the end of fiscal 2019, 2018,

and 2017, respectively. During fiscal 2019, 2018, and 2017, shares purchased by the Company for tax withholding totaled 0.6 million, 0.7 million, and 0.7 million shares, respectively, and are considered treasury shares which are available for reissuance. As of February 1, 2020 and February 2, 2019, the Company held 13.8 million and 13.2 million shares of treasury stock, respectively.

Performance share awards. The Company has a performance share award program for senior executives. A performance share award represents a right to receive shares of restricted stock on a specified settlement date based on the Company’s attainment of a profitability-based performance goal during the performance period, which is the Company’s fiscal year. If attained, the restricted stock then vests over a service period, generally two to three years from the date the performance award was granted. The Company issued approximately 414,000, 556,000, and 655,000 shares in settlement of the fiscal 2019, 2018, and 2017 awards.

Employee Stock Purchase Plan. Under the Employee Stock Purchase Plan (“ESPP”), eligible employees participating in the quarterly offering period can choose to have up to the lesser of 10% of their annual base earnings or the IRS annual share purchase limit of $25,000 in aggregate market value to purchase the Company’s common stock. The purchase price of the stock is 85% of the closing market price on the date of purchase. Purchases occur on a quarterly basis (on the last trading day of each calendar quarter). The Company recognizes expense for ESPP purchase rights equal to the value of the 15% discount given on the purchase date.

During fiscal 2019, 2018, and 2017, employees purchased approximately 0.3 million, 0.3 million, and 0.3 million shares, respectively, of the Company’s common stock under the plan at weighted-average per share prices of $88.45, $72.89, and $56.42, respectively. Through February 1, 2020, approximately 40.2 million shares had been issued under this plan and 4.8 million shares remained available for future issuance.

Quarterly Financial Data (Unaudited) (Details) - USD ($)
$ / shares in Units, $ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Nov. 30, 2019

Aug. 31, 2019

May 31, 2019

Mar. 31, 2019

Nov. 30, 2018

Aug. 31, 2018

May 31, 2018

Mar. 31, 2018

Nov. 30, 2017

Aug. 31, 2017

May 30, 2017

Feb. 28, 2017

Feb. 01, 2020

Nov. 02, 2019

Aug. 03, 2019

May 04, 2019

Feb. 02, 2019

Nov. 03, 2018

Aug. 04, 2018

May 05, 2018

Feb. 01, 2020

Feb. 02, 2019

Feb. 03, 2018

Quarterly Financial Data [Abstract]

Sales

$ 4,413,445

$ 3,849,117

$ 3,979,869

$ 3,796,642

$ 4,107,388

$ 3,549,608

$ 3,737,926

$ 3,588,619

$ 16,039,073

$ 14,983,541

$ 14,134,732

Cost of goods sold

3,224,237

2,766,432

2,843,850

2,701,668

2,989,744

2,547,331

2,666,983

2,522,219

11,536,187

10,726,277

10,042,638

Selling, general and administrative

601,879

604,605

591,970

558,250

575,969

561,577

554,581

524,423

2,356,704

2,216,550

2,043,698

Interest income, net

(3,287)

(4,402)

(4,782)

(5,635)

(5,313)

(2,953)

(1,393)

(503)

(18,106)

(10,162)

7,676

Total costs and expenses

3,822,829

3,366,635

3,431,038

3,254,283

3,560,400

3,105,955

3,220,171

3,046,139

13,874,785

12,932,665

12,094,012

Earnings before taxes

590,616

482,482

548,831

542,359

546,988

443,653

517,755

542,480

2,164,288

2,050,876

2,040,720

Provision for taxes on earnings

134,483

111,550

136,110

121,217

105,295

105,545

128,351

124,228

503,360

463,419

677,967

Net earnings

$ 456,133

$ 370,932

$ 412,721

$ 421,142

$ 441,693

$ 338,108

$ 389,404

$ 418,252

$ 1,660,928

$ 1,587,457

$ 1,362,753

^[1]

Earnings per share - basic (in dollars per share)

$ 1.29

$ 1.04

$ 1.15

$ 1.16

$ 1.21

$ 0.92

$ 1.05

$ 1.12

$ 4.63

$ 4.30

$ 3.58

Earnings per share - diluted (in dollars per share)

1.28

1.03

1.14

1.15

1.20

0.91

1.04

1.11

4.60

4.26

3.55

Cash dividends declared per share on common stock (in dollars per share)

$ 0.255

$ 0.225

$ 0.160

$ 0.255

$ 0.225

1.02

0.90

$ 0.64

Tax resolution benefit (usd per share)

$ 0.02

$ 0.07

[1]	As the result of the adoption of ASU 2016-18, Statement of Cash Flow (Topic 230): Restricted Cash, in fiscal 2018, the prior year amounts were retrospectively adjusted to include restricted cash and cash equivalents. See Note A.

Taxes on Earnings (Components Of Deferred Income Taxes) (Details) - USD ($) $ in Thousands	Feb. 01, 2020	Feb. 02, 2019
Deferred Tax Assets
Accrued liabilities	$ 35,242	$ 38,367
Deferred compensation	33,108	30,886
Stock-based compensation	35,290	36,118
Deferred rent	0	19,824
State taxes and credits	20,178	20,310
Employee benefits	18,425	18,845
Operating lease liabilities	797,467
Other	3,353	1,412
Gross Deferred Tax Assets	943,063	165,762
Less: Valuation allowance	(4,590)	(4,639)
Deferred Tax Assets	938,473	161,123
Deferred Tax Liabilities
Depreciation	(273,255)	(238,631)
Merchandise inventory	(26,376)	(25,686)
Supplies	(10,972)	(10,308)
Operating lease assets	(766,874)
Other	(10,675)	(10,806)
Deferred Tax Liabilities	(1,088,152)	(285,431)
Net Deferred Tax Liabilities	$ (149,679)	$ (124,308)

Debt (Tables)

12 Months Ended

Feb. 01, 2020

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Unsecured senior debt, net of unamortized discounts and debt issuance costs, as of February 1, 2020 and February 2, 2019 consisted of the following:


($000)	2019		2018
6.53% Series B Senior Notes due 2021	$	64,963	$	64,942
3.375% Senior Notes due 2024	247,928		247,498
Total long-term debt	$	312,891	$	312,440

Schedule of Maturities of Long-term Debt

The following table shows scheduled annual principal payments on long-term debt:


($000)
2020	$	—
2021	$	65,000
2022	$	—
2023	$	—
2024	$	250,000
Thereafter	$	—

Interest Income and Interest Expense Disclosure

The table below shows the components of interest expense and income for fiscal 2019, 2018, and 2017:


($000)	2019		2018		2017
Interest expense on long-term debt	$	13,139	$	17,900	$	18,578
Other interest expense	968		1,004		979
Capitalized interest	(4,367)		(2,497)		(710)
Interest income	(27,846)		(26,569)		(11,171)
Interest (income) expense, net	$	(18,106)	$	(10,162)	$	7,676

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
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-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Debt (Interest Expense/Income, Net) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Feb. 01, 2020	Nov. 02, 2019	Aug. 03, 2019	May 04, 2019	Feb. 02, 2019	Nov. 03, 2018	Aug. 04, 2018	May 05, 2018	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Debt Disclosure [Abstract]
Interest expense on long-term debt									$ 13,139	$ 17,900	$ 18,578
Other interest expense									968	1,004	979
Capitalized interest									(4,367)	(2,497)	(710)
Interest income									(27,846)	(26,569)	(11,171)
Interest (income) expense, net	$ (3,287)	$ (4,402)	$ (4,782)	$ (5,635)	$ (5,313)	$ (2,953)	$ (1,393)	$ (503)	$ (18,106)	$ (10,162)	$ 7,676

Subsequent Events (Details) - Unsecured Revolving Credit Facility - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Mar. 31, 2020	Feb. 01, 2020
Subsequent Event [Line Items]
Interest rate, margin in addition to LIBOR (percent)		7500.00%
Subsequent Event
Subsequent Event [Line Items]
Amount borrowed from revolving credit facility	$ 800
Interest rate, margin in addition to LIBOR (percent)	0.75%
Current interest rate for revolving credit facility borrowings (percent)	1.61%

Stock-Based Compensation (Tables)

12 Months Ended

Feb. 01, 2020

Share-based Payment Arrangement, Noncash Expense [Abstract]

Recognized Stock-Based Compensation

For fiscal 2019, 2018, and 2017, the Company recognized stock-based compensation expense as follows:



($000)	2019		2018		2017
Restricted stock	$	54,975	$	48,585	$	44,356
Performance awards	36,542		43,450		39,871
ESPP	3,921		3,550		3,190
Total	$	95,438	$	95,585	$	87,417

Total Stock-Based Compensation Recognized In The Consolidated Statements Of Earnings

Total stock-based compensation recognized in the Company’s Consolidated Statements of Earnings for fiscal 2019, 2018, and 2017 is as follows:


Statements of Earnings Classification ($000)	2019		2018		2017
Cost of goods sold	$	54,265	$	45,052	$	41,067
Selling, general and administrative	41,173		50,533		46,350
Total	$	95,438	$	95,585	$	87,417

Taxes on Earnings (Provision For Income Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Feb. 01, 2020	Nov. 02, 2019	Aug. 03, 2019	May 04, 2019	Feb. 02, 2019	Nov. 03, 2018	Aug. 04, 2018	May 05, 2018	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Current
Federal									$ 414,823	$ 357,170	$ 660,017
State									56,528	74,472	52,853
Current income taxes									471,351	431,642	712,870
Deferred
Federal									28,244	33,913	(40,468)
State									3,765	(2,136)	5,565
Deferred income taxes									32,009	31,777	(34,903)
Total	$ 134,483	$ 111,550	$ 136,110	$ 121,217	$ 105,295	$ 105,545	$ 128,351	$ 124,228	$ 503,360	$ 463,419	$ 677,967

Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Defined Contribution Plan [Abstract]
Employer match as a percentage of employee's salary (percent)	4.00%
Company contributions	$ 19,200	$ 17,100	$ 15,400
Other long-term assets of long-term plan investments	141,443	124,558
Liability to participants	141,443	124,558
Estimated liability for post-employment medical benefits	$ 8,200	$ 6,700

Stockholders' Equity (Common Stock) (Details) - USD ($) $ / shares in Units, shares in Millions	1 Months Ended	12 Months Ended
	Feb. 28, 2017	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018	Mar. 31, 2019	Mar. 31, 2018	Feb. 28, 2018
Stockholders' Equity Note [Abstract]
Stock repurchased program period	2 years
Stock repurchase program, approved amount	$ 1,750,000,000				$ 2,550,000,000
Stock repurchase program, authorized increase						$ 200,000,000
Stock repurchase program, remaining amount		$ 1,275,000,000				$ 1,075,000,000.000	$ 875,000,000
Shares repurchased (in shares)		12.3	12.5	13.5
Average repurchase price (in dollars per share)		$ 103.99	$ 86.19	$ 64.87
Common stock repurchased, value		$ 1,275,000,000	$ 1,075,000,000	$ 875,000,000

Leases (Lease Costs) (Details) $ in Thousands	12 Months Ended
Leases (Lease Costs) (Details) $ in Thousands	Feb. 01, 2020 USD ($)
Leases [Abstract]
Operating Lease cost	$ 639,545
Variable lease costs	174,438
Net lease cost	$ 813,983

Stockholders' Equity (Performance Share Awards) (Details) - Performance Shares - shares shares in Thousands	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock issued in settlement of performance share awards (in shares)	414	556	655
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	2 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years

Quarterly Financial Data (Unaudited)

12 Months Ended

Feb. 01, 2020

Quarterly Financial Data [Abstract]

Quarterly Financial Data (Unaudited)

Summarized quarterly financial information for fiscal 2019 and 2018 is presented in the tables below.

Year ended February 1, 2020:






	Quarter Ended
($000, except per share data)	May 4, 2019		August 3, 2019		November 2, 2019		February 1, 2020
Sales	$	3,796,642	$	3,979,869	$	3,849,117	$	4,413,445

Cost of goods sold	2,701,668		2,843,850		2,766,432		3,224,237
Selling, general and administrative	558,250		591,970		604,605		601,879
Interest income, net	(5,635)		(4,782)		(4,402)		(3,287)
Total costs and expenses	3,254,283		3,431,038		3,366,635		3,822,829
Earnings before taxes	542,359		548,831		482,482		590,616
Provision for taxes on earnings	121,217		136,110		111,550		134,483
Net earnings	$	421,142	$	412,721	$	370,932	$	456,133


Earnings per share – basic¹	$	1.16	$	1.15	$	1.04	$	1.29	²
Earnings per share – diluted¹	$	1.15	$	1.14	$	1.03	$	1.28	²
Cash dividends declared per share
on common stock	$	0.255	$	0.255	$	0.255	$	0.255


¹			EPS is computed independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of changes in average quarterly shares outstanding.
²			Includes a per share benefit of approximately $0.02 primarily related to the favorable resolution of a tax matter.

Year ended February 2, 2019:


	Quarter Ended
($000, except per share data)	May 5, 2018		August 4, 2018		November 3, 2018		February 2, 2019
Sales	$	3,588,619	$	3,737,926	$	3,549,608	$	4,107,388

Cost of goods sold	2,522,219		2,666,983		2,547,331		2,989,744
Selling, general and administrative	524,423		554,581		561,577		575,969
Interest income, net	(503)		(1,393)		(2,953)		(5,313)
Total costs and expenses	3,046,139		3,220,171		3,105,955		3,560,400
Earnings before taxes	542,480		517,755		443,653		546,988
Provision for taxes on earnings	124,228		128,351		105,545		105,295
Net earnings	$	418,252	$	389,404	$	338,108	$	441,693


Earnings per share – basic¹	$	1.12	$	1.05	$	0.92	$	1.21	²
Earnings per share – diluted¹	$	1.11	$	1.04	$	0.91	$	1.20	²
Cash dividends declared per share
on common stock	$	0.225	$	0.225	$	0.225	$	0.225


¹			EPS is computed independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of changes in average quarterly shares outstanding.
²			Includes a per share benefit of approximately $0.07 from the favorable resolution of a tax matter.

Label	Element	Value
Accounting Standards Update 2016-02 [Member] \| Additional Paid-in Capital [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 0
Accounting Standards Update 2016-09 [Member] \| Additional Paid-in Capital [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	1,789,000
Accounting Standards Update 2014-09 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	19,884,000
Accounting Standards Update 2014-09 [Member] \| Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	19,884,000
Accounting Standards Update 2014-09 [Member] \| Additional Paid-in Capital [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 0

Leases (Maturities Of Operating Lease Liabilities) (Details) $ in Thousands	Feb. 01, 2020 USD ($)
Leases [Abstract]
2020	$ 607,490
2021	633,846
2022	557,484
2023	469,211
2024	359,101
Thereafter	1,613,176
Total lease payments	4,240,308
Less: interest	1,065,299
Present value of lease liabilities	3,175,009
Less: current operating lease liabilities	564,481
Non-current operating lease liabilities	2,610,528
Minimum lease payments for leases signed that have not yet commenced	$ 266,800

Taxes on Earnings

12 Months Ended

Feb. 01, 2020

Income Tax Disclosure [Abstract]

Taxes on Earnings

The provision for income taxes consisted of the following:


($000)	2019		2018		2017
Current
Federal	$	414,823	$	357,170	$	660,017
State	56,528		74,472		52,853
	471,351		431,642		712,870
Deferred
Federal	28,244		33,913		(40,468)
State	3,765		(2,136)		5,565
	32,009		31,777		(34,903)
Total	$	503,360	$	463,419	$	677,967

The provision for taxes for financial reporting purposes is different from the tax provision computed by applying the statutory federal income tax rate. The differences are reconciled below:


	2019		2018		2017
Federal income taxes at the statutory rate	21	%	21	%	34	%
State income taxes (net of federal benefit) and other, net	2		3		2
Tax audit settlements	—		(1)		—
Impact of the Tax Act on deferred taxes	—		—		(3)
Total	23	%	23	%	33	%

In November 2019, the Company resolved uncertain tax positions with a state tax authority. As a result, the Company recognized a tax benefit of approximately $10.0 million in the Consolidated Statement of Earnings. In fiscal 2018, the Company resolved uncertain tax positions related to fiscal 2015 with the Internal Revenue Service. As a result, the Company recognized a tax benefit of approximately $26.0 million in the Consolidated Statement of Earnings.

In fiscal 2017, The Tax Cuts and Jobs Act (the “Tax Act” or "tax reform") was signed into law. The Tax Act made significant changes to U.S. corporate taxation including reducing the U.S. federal corporate income tax rate from 35% to 21% effective January 1, 2018, the last month of fiscal 2017. U.S. GAAP requires that the impact of tax legislation be recognized in the period in which the law was enacted. The Company applied a blended U.S. federal income tax rate of approximately 34% for fiscal 2017. This reduced tax rate resulted in a tax benefit of $24.9 million in fiscal 2017. The Company recorded an additional tax benefit of $55.2 million due to the remeasurement of its deferred tax assets and liabilities in fiscal 2017.

Also, in fiscal 2017, the Company adopted ASU 2016-09. Prior to adoption of ASU 2016-09, the Company recorded tax benefits related to employee equity programs in additional paid-in capital. As a result of adopting ASU 2016-09, the Company recorded tax benefits of $13.3 million, $12.6 million and $16.3 million in 2019, 2018 and 2017, respectively, as a reduction to its provision for income taxes.

The components of deferred taxes at February 1, 2020 and February 2, 2019 are as follows:


($000)	2019			2018
Deferred Tax Assets
Accrued liabilities	$	35,242		$	38,367
Deferred compensation	33,108			30,886
Stock-based compensation	35,290			36,118
Deferred rent	—			19,824
State taxes and credits	20,178			20,310
Employee benefits	18,425			18,845
Operating lease liabilities	797,467		¹	—
Other	3,353			1,412
Gross Deferred Tax Assets	943,063			165,762
Less: Valuation allowance	(4,590)			(4,639)
Deferred Tax Assets	938,473			161,123

Deferred Tax Liabilities
Depreciation	(273,255)			(238,631)
Merchandise inventory	(26,376)			(25,686)
Supplies	(10,972)			(10,308)
Operating lease assets	(766,874)		¹	—
Other	(10,675)			(10,806)
Deferred Tax Liabilities	(1,088,152)			(285,431)
Net Deferred Tax Liabilities	$	(149,679)		$	(124,308)

¹Fiscal 2019 reflects the impact of adoption of ASU 2016-02, Leases (ASC 842) on a modified retrospective basis; fiscal 2018 was not restated.

At the end of fiscal 2019 and 2018, the Company’s state tax credit carryforwards for income tax purposes were approximately $12.8 million and $13.6 million, respectively. The state tax credit carryforwards will begin to expire in fiscal 2020. The Company has provided a valuation allowance of $4.6 million as of the end of fiscal 2019 for deferred tax assets related to state tax credits that are not expected to be realized.

The changes in amounts of unrecognized tax benefits (gross of federal tax benefits and excluding interest and penalties) at fiscal 2019, 2018, and 2017 are as follows:


($000)	2019		2018		2017
Unrecognized tax benefits - beginning of year	$	65,787	$	98,666	$	81,122
Gross increases:
Tax positions in current period	13,864		14,722		26,837
Tax positions in prior period	2,672		1,843		—
Gross decreases:
Tax positions in prior periods	(9,559)		(40,600)		(2,755)
Lapse of statutes of limitations	(8,653)		(8,584)		(6,068)
Settlements	(4,224)		(260)		(470)
Unrecognized tax benefits - end of year	$	59,887	$	65,787	$	98,666

At the end of fiscal 2019, 2018, and 2017, the reserves for unrecognized tax benefits were $67.1 million, $78.8 million, and $121.3 million inclusive of $7.2 million, $13.0 million, and $22.6 million of related reserves for interest and penalties, respectively. In November 2019, the Company resolved uncertain tax positions with a state tax authority. As a result, the Company recognized a decrease in reserves for tax positions in prior periods of $16.2

million, inclusive of $6.6 million of related reserves for interest and penalties. In fiscal 2018, the Company resolved uncertain tax positions related to fiscal 2015 with the Internal Revenue Service. As a result, the Company recognized a decrease in reserves for tax positions in prior periods of $52.4 million, inclusive of $12.6 million of related reserves for interest and penalties. The Company accounts for interest and penalties related to unrecognized tax benefits as a part of its provision for taxes on earnings. If recognized, $53.3 million would impact the Company’s effective tax rate. The difference between the total amount of unrecognized tax benefits and the amounts that would impact the effective tax rate relates to amounts attributable to deferred tax assets and liabilities. These amounts are net of federal and state income taxes.

It is reasonably possible that certain state tax matters may be concluded or statutes of limitations may lapse during the next twelve months. Accordingly, the total amount of unrecognized tax benefits may decrease by up to $10.3 million.

The Company is open to audit by the Internal Revenue Service under the statute of limitations for fiscal years 2016 through 2019. The Company’s state income tax returns are generally open to audit under the various statutes of limitations for fiscal years 2015 through 2019. Certain state tax returns are currently under audit by various tax authorities. The Company does not expect the results of these audits to have a material impact on the consolidated financial statements.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Feb. 01, 2020

Accounting Policies [Abstract]

Schedule of Restricted Cash Reconciliation


($000)	2019		2018		2017
Cash and cash equivalents	$	1,351,205	$	1,412,912	$	1,290,294
Restricted cash and cash equivalents included in:
Prepaid expenses and other	10,235		11,402		9,412
Other long-term assets	49,970		53,765		53,566
Total restricted cash and cash equivalents	60,205		65,167		62,978
Total cash, cash equivalents and restricted cash and equivalents	$	1,411,410	$	1,478,079	$	1,353,272

Schedule Of Other Long-Term Assets

Other long-term assets as of February 1, 2020 and February 2, 2019 consisted of the following:


($000)	2019		2018
Deferred compensation (Note B)	$	141,443	$	124,558
Restricted cash and investments	49,970		53,765


Other	16,908		16,148
Total	$	208,321	$	194,471

Summary Of Insurance Obligations

Self-insurance and deductible reserves as of February 1, 2020 and February 2, 2019 consisted of the following:


($000)	2019		2018
Workers’ compensation	$	87,063	$	89,993
General liability	44,371		42,877
Medical plans	6,430		6,515
Total	$	137,864	$	139,385

Schedule Of Other Long-Term Liabilities

Other long-term liabilities as of February 1, 2020 and February 2, 2019 consisted of the following:


($000)	2019			2018
Income taxes (Note F)	$	65,956		$	77,872
Deferred compensation (Note G)	141,443			124,558
Deferred rent	—		¹	81,442
Tenant improvement allowances	—		¹	25,418
Other	6,687			12,423
Total	$	214,086		$	321,713

¹ Fiscal 2019 reflects the impact of adoption of ASU 2016-02, Leases (Accounting Standards Codification "ASC" 842) on a modified retrospective basis; fiscal 2018 was not restated.

Schedule of Disaggregation of Revenue

The following sales mix table disaggregates revenue by merchandise category for fiscal 2019, 2018, and 2017:


	2019		2018		2017
Ladies	26	%	26	%	27	%
Home Accents and Bed and Bath	25	%	26	%	26	%
Men’s	14	%	14	%	13	%
Accessories, Lingerie, Fine Jewelry, and Fragrances	13	%	13	%	13	%
Shoes	13	%	13	%	13	%
Children’s	9	%	8	%	8	%
Total	100	%	100	%	100	%

Schedule Of Basic And Diluted EPS

The following is a reconciliation of the number of shares (denominator) used in the basic and diluted EPS computations:


Shares in (000s)	Basic EPS		Effect of dilutive common stock equivalents		Diluted EPS
2019
Shares	358,462		2,720		361,182
Amount	$	4.63	$	(0.03)	$	4.60
2018
Shares	369,533		3,145		372,678
Amount	$	4.30	$	(0.04)	$	4.26
2017
Shares	381,174		3,155		384,329
Amount	$	3.58	$	(0.03)	$	3.55

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Feb. 01, 2020
Defined Contribution Plan [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company has a defined contribution plan that is available to certain employees. Under the plan, employee and Company contributions and accumulated plan earnings qualify for favorable tax treatment under Section 401(k) of the Internal Revenue Code. This plan permits employees to make contributions up to the maximum limits allowable under the Internal Revenue Code. The Company matches up to 4% of the employee’s salary up to the plan limits. Company matching contributions to the 401(k) plan were $19.2 million, $17.1 million, and $15.4 million in fiscal 2019, 2018, and 2017, respectively. The Company also has an Incentive Compensation Plan which provides cash awards to key management and employees based on Company and individual performance. The Company also makes available to management a Non-qualified Deferred Compensation Plan which allows management to make payroll contributions on a pre-tax basis in addition to the 401(k) plan. Other long-term assets include $141.4 million and $124.6 million at February 1, 2020 and February 2, 2019, respectively, of long-term plan investments, at market value, set aside or designated for the Non-qualified Deferred Compensation Plan (See Note B). Plan investments are designated by the participants, and investment returns are not guaranteed by the Company. The Company has a corresponding liability to participants of $141.4 million and $124.6 million at February 1, 2020 and February 2, 2019, respectively, included in Other long-term liabilities in the Consolidated Balance Sheets. In addition, the Company has certain individuals who receive or will receive post-employment medical benefits. The estimated liability for these benefits of $8.2 million and $6.7 million is included in Accrued expenses and other in the accompanying Consolidated Balance Sheets as of February 1, 2020 and February 2, 2019, respectively.

Taxes on Earnings (Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2019	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Unrecognized tax benefits - beginning of year		$ 65,787	$ 98,666	$ 81,122
Gross increases:
Tax positions in current period		13,864	14,722	26,837
Tax positions in prior period		2,672	1,843	0
Gross decreases:
Tax positions in prior periods		(9,559)	(40,600)	(2,755)
Lapse of statutes of limitations		(8,653)	(8,584)	(6,068)
Settlements	$ (16,200)	(4,224)	(260)	(470)
Unrecognized tax benefits - end of year		$ 59,887	$ 65,787	$ 98,666

Stock-Based Compensation (Narrative) (Details) $ in Millions	12 Months Ended
	Feb. 01, 2020 USD ($) plan	Feb. 02, 2019 USD ($)	Feb. 03, 2018 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Discount rate under the ESPP (in percentage)	15.00%
Tax benefit related to stock-based compensation \| $	$ 18.5	$ 19.6	$ 29.5
Stock Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock-based compensation plans \| plan	1

Summary of Significant Accounting Policies (Schedule of Disaggregation of Revenue) (Details)	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Disaggregation of Revenue [Line Items]
Revenue as percentage	100.00%	100.00%	100.00%
Ladies
Disaggregation of Revenue [Line Items]
Revenue as percentage	26.00%	26.00%	27.00%
Home Accents and Bed and Bath
Disaggregation of Revenue [Line Items]
Revenue as percentage	25.00%	26.00%	26.00%
Men’s
Disaggregation of Revenue [Line Items]
Revenue as percentage	14.00%	14.00%	13.00%
Accessories, Lingerie, Fine Jewelry, and Fragrances
Disaggregation of Revenue [Line Items]
Revenue as percentage	13.00%	13.00%	13.00%
Shoes
Disaggregation of Revenue [Line Items]
Revenue as percentage	13.00%	13.00%	13.00%
Childrens [Member]
Disaggregation of Revenue [Line Items]
Revenue as percentage	9.00%	8.00%	8.00%

Debt (Unsecured Senior Notes, Net of Unamortized Discounts and Issuance Costs) (Details) - USD ($) $ in Thousands	Feb. 01, 2020	Feb. 02, 2019
Debt Instrument [Line Items]
Long-term Debt	$ 312,891	$ 312,440
6.53% Series B Senior Notes due 2021
Debt Instrument [Line Items]
Long-term Debt	64,963	64,942
3.375% Senior Notes due 2024
Debt Instrument [Line Items]
Long-term Debt	$ 247,928	$ 247,498

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Feb. 01, 2020	Mar. 09, 2020	Aug. 03, 2019
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Entity File Number	0-14678
Entity Registrant Name	Ross Stores, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-1390387
Entity Address, Postal Zip Code	94568-7579
City Area Code	(925)
Local Phone Number	965-4400
Title of 12(b) Security	Common stock, par value $.01
Trading Symbol	ROST
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 36,753,366,881
Entity Common Stock, Shares Outstanding (in shares)		355,896,821
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Document Period End Date	Feb. 01, 2020
Current Fiscal Year End Date	--02-01
Entity Central Index Key	0000745732
Amendment Flag	false
Entity Address, Address Line One	5130 Hacienda Drive
Entity Address, City or Town	Dublin
Entity Address, State or Province	CA

Summary of Significant Accounting Policies (Schedule Of Other Long-Term Assets) (Details) - USD ($) $ in Thousands	Feb. 01, 2020	Feb. 02, 2019
Accounting Policies [Abstract]
Deferred compensation (Note B)	$ 141,443	$ 124,558
Restricted cash and investments	49,970	53,765
Other	16,908	16,148
Total	$ 208,321	$ 194,471

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Feb. 01, 2020
Accounting Policies [Abstract]
Business	Business. Ross Stores, Inc. and its subsidiaries (the “Company”) is an off-price retailer of first-quality, in-season, name brand and designer apparel, accessories, footwear, and home fashions for the entire family. At the end of fiscal 2019, the Company operated 1,546 Ross Dress for Less^® (“Ross”) locations in 39 states, the District of Columbia, and Guam, and 259 dd’s DISCOUNTS^® stores in 19 states. The Ross and dd’s DISCOUNTS stores are supported by the Company’s headquarters, buying offices, and its network of distribution centers/warehouses.
Segment reporting	Segment reporting. The Company has one reportable segment. The Company’s operations include only activities related to off-price retailing in stores throughout the United States.
Basis of presentation and fiscal year	Basis of presentation and fiscal year. The consolidated financial statements include the accounts of the Company and its subsidiaries, all of which are wholly-owned. Intercompany transactions and accounts have been eliminated. The Company follows the National Retail Federation fiscal calendar and utilizes a 52-53 week fiscal year whereby the fiscal year ends on the Saturday nearest to January 31. The fiscal years ended February 1, 2020, February 2, 2019 and February 3, 2018 are referred to as fiscal 2019, fiscal 2018, and fiscal 2017, respectively. Fiscal 2017 was a 53-week year. Fiscal 2019 and 2018 were each 52-week years.
Use of accounting estimates	Use of accounting estimates. The preparation of consolidated financial statements in conformity with Generally Accepted Accounting Principles in the United States of America (“GAAP”) requires the Company to make estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Company’s significant accounting estimates include valuation reserves for inventory shortage, packaway inventory costs, useful lives of fixed assets, insurance reserves, reserves for uncertain tax positions, and legal claims. Purchase obligations. As of February 1, 2020, the Company had purchase obligations of approximately $2.7 billion. These purchase obligations primarily consist of merchandise inventory purchase orders, commitments related to construction projects, store fixtures and supplies, and information technology services, transportation, and maintenance contracts.
Cash and cash equivalents	Cash and cash equivalents. Cash equivalents consist of highly liquid, fixed income instruments purchased with an original maturity of three months or less.
Restricted cash, cash equivalents, and investments	Restricted cash, cash equivalents, and investments. Restricted cash, cash equivalents, and investments serve as collateral for certain insurance obligations of the Company. These restricted funds are invested in bank deposits, money market mutual funds, U.S. Government and agency securities, and corporate securities and cannot be withdrawn from the Company’s account without the prior written consent of the secured parties. The classification between current and long-term is based on the timing of expected payments of the insurance obligations.
Estimated fair value of financial instruments	Estimated fair value of financial instruments. The carrying value of cash and cash equivalents, short- and long-term investments, restricted cash and cash equivalents, restricted investments, accounts receivable, other long-term assets, accounts payable, and other long-term liabilities approximates their estimated fair value. See Note B and Note D for additional fair value information. Cash and cash equivalents were $1,351.2 million and $1,412.9 million, at February 1, 2020 and February 2, 2019, respectively, and include bank deposits and money market funds for which the fair value was determined using quoted prices for identical assets in active markets, which are considered to be Level 1 inputs under the fair value measurements and disclosures guidance.
Investments	Investments. The Company’s investments are comprised of various debt securities. At February 1, 2020 and February 2, 2019, these investments were classified as available-for-sale and are stated at fair value. Investments are classified as either short- or long-term based on their maturity dates and the Company’s intent. Investments with a maturity of less than one year are classified as short-term.
Merchandise inventory	Merchandise inventory. Merchandise inventory is stated at the lower of cost (determined using a weighted-average basis) or net realizable value. The Company purchases inventory that can either be shipped to stores or processed as packaway merchandise with the intent that it will be warehoused and released to stores at a later date. The timing of the release of packaway inventory to the stores is principally driven by the product mix and seasonality of the merchandise, and its relation to the Company’s store merchandise assortment plans. As such, the aging of packaway varies by merchandise category and seasonality of purchase, but typically packaway remains in storage less than six months. Merchandise inventory includes acquisition, processing, and storage costs related to packaway inventory. The cost of the Company’s merchandise inventory is reduced by valuation reserves for shortage based on historical shortage experience from the Company’s physical merchandise inventory counts and cycle counts.
Cost of goods sold and Revenue recognition	Cost of goods sold. In addition to product costs, the Company includes in cost of goods sold its buying, distribution, and freight expenses as well as occupancy costs, and depreciation and amortization related to the Company’s retail stores, buying, and distribution facilities. Buying expenses include costs to procure merchandise inventories. Distribution expenses include the cost of operating the Company’s distribution centers, warehouses, and cross-dock facilities. Revenue recognition. The Company recognizes revenue at the point of sale, net of sales taxes collected and an allowance for estimated future returns as required by ASU No. 2014-09, Revenue from Contracts with Customers (ASC 606). The Company recognizes allowances for estimated sales returns on a gross basis as a reduction to sales. The asset recorded for the expected recovery of merchandise inventory was $10.7 million and $10.2 million and the liability recorded for the refund due to the customer was $20.9 million and $19.8 million as of February 1, 2020 and February 2, 2019, respectively. Prior to the adoption of ASC 606, the Company recognized allowances for sales returns on a net margin basis, which was $9.9 million as of February 3, 2018. Sales taxes collected that are outstanding and the allowance for estimated future returns are included in Accrued expenses and other and the asset for expected recovery of merchandise is included in Prepaid expenses and other in the Consolidated Balance Sheets. Sales of stored value cards are deferred until they are redeemed for the purchase of Company merchandise. The Company’s stored value cards do not have expiration dates. Based upon historical redemption rates, a small percentage of stored value cards will never be redeemed, which represents breakage. As a result of adopting ASC 606, breakage is estimated and recognized as revenue based upon the historical pattern of customer redemptions. In prior periods, breakage was recorded as a reduction of operating expense when customer redemption was considered remote. Breakage was not material to the consolidated financial statements in fiscal 2019, 2018, and 2017.
Property and equipment	Property and equipment. Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful life of the asset, typically ranging from three to 12 years for equipment, 20 to 40 years for land improvements and buildings, and three to seven years for computer software costs incurred in developing or obtaining software for internal use. The cost of leasehold improvements is amortized over the useful life of the asset or the applicable lease term, whichever is less.The Company capitalizes interest during the construction period of facilities and during the development and implementation phase of software projects.
Impairment of long-lived assets	Impairment of long-lived assets. Property and other long-term assets that are subject to depreciation and amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable based on estimated undiscounted future cash flows. For stores that are closed, the Company records an impairment charge, if appropriate, or accelerates depreciation over the revised useful life of the asset. Intangible assets that are not subject to amortization, including goodwill, are tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset may be impaired.
Accounts payable	Accounts payable. Accounts payable represents amounts owed to third parties at the end of the period. Accounts payable includes book cash overdrafts (checks issued under zero balance accounts not yet presented for payment) in excess of cash balances in such accounts of approximately $138.8 million and $83.2 million at February 1, 2020 and February 2, 2019, respectively. The Company includes the change in book cash overdrafts in operating cash flows.
Insurance obligations	Insurance obligations. The Company uses a combination of insurance and self-insurance for a number of risk management activities, including workers’ compensation, general liability, and employee-related health care benefits. The self-insurance and deductible liability is determined actuarially, based on claims filed and an estimate of claims incurred but not yet reported.
Lease accounting	Lease accounting. As the Company’s leases generally do not provide an implicit discount rate, the Company uses the estimated collateralized incremental borrowing rate based on information available at the lease commencement date in determining the present value of lease payments for use in the calculation of the operating lease liabilities and right-of-use assets. This rate is determined using a portfolio approach based on the risk-adjusted rate of interest and requires estimates and assumptions including credit rating, credit spread, and adjustments for the impact of collateral. The Company believes that this is the rate it would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar lease term. Operating lease liabilities and corresponding right-of-use assets include options to extend lease terms that are reasonably certain of being exercised. The Company does not record a lease liability and corresponding right-of-use asset for leases with terms of 12 months or less, and accounts for lease and non-lease components as a single lease component. The Company's lease portfolio is comprised of operating leases with the lease cost recorded on a straight-line basis over the lease term. Prior to the adoption of Accounting Standards Codification "ASC" 842 in the beginning of fiscal 2019, when a lease contained “rent holidays” or required fixed escalations of the minimum lease payments, the Company recorded rental expense on a straight-line basis over the term of the lease and the difference between the average rental amount was charged to expense and the amount payable under the lease was recorded as deferred rent. The Company began recording rent expense on the lease possession date. Tenant improvement allowances were amortized over the lease term. Changes in deferred rent and tenant improvement allowances were included as a component of operating activities in the Consolidated Statements of Cash Flows.
Store pre-opening	Store pre-opening. Store pre-opening costs are expensed in the period incurred.
Advertising	Advertising. Advertising costs are expensed in the period incurred and are included in Selling, general and administrative expenses.
Share-based compensation	Stock-based compensation. The Company recognizes compensation expense based upon the grant date fair value of all stock-based awards, typically over the vesting period.
Taxes on earnings	Taxes on earnings. The Company accounts for income taxes in accordance with ASC 740, “Accounting for Income Taxes,” which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company’s consolidated financial statements or tax returns. In estimating future tax consequences, the Company generally considers all expected future events other than changes in the tax law or tax rates. ASC 740 clarifies the criteria that an individual tax position must satisfy for some or all of the benefits of that position to be recognized in a company’s consolidated financial statements. ASC 740 prescribes a recognition threshold of more-likely-than-not, and a measurement standard for all tax positions taken or expected to be taken on a tax return, in order for those tax positions to be recognized in the consolidated financial statements.
Treasury stock	Treasury stock. The Company records treasury stock at cost. Treasury stock includes shares purchased from employees for tax withholding purposes related to vesting of restricted stock grants.
Earnings per share (EPS)	Earnings per share (“EPS”). The Company computes and reports both basic EPS and diluted EPS. Basic EPS is computed by dividing net earnings by the weighted-average number of common shares outstanding for the period. Diluted EPS is computed by dividing net earnings by the sum of the weighted-average number of common shares and dilutive common stock equivalents outstanding during the period. Diluted EPS reflects the total potential dilution that could occur from outstanding equity plan awards, including unexercised stock options and unvested shares of both performance and non-performance based awards of restricted stock.
Comprehensive income	Comprehensive income. Comprehensive income includes net earnings and components of other comprehensive income (loss), net of tax, consisting of unrealized investment gains or losses.
Recently issued and adopted accounting standards	Recently issued accounting standards. The Company considers the applicability and impact of all Accounting Standards Updates (“ASU”) issued by the FASB. ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on the Company's consolidated financial results. Recently adopted accounting standards. In February 2016, the FASB issued ASU 2016-02, Leases (ASC 842), which along with subsequent amendments, supersedes the lease accounting requirements in ASC 840, Leases. The updated guidance requires balance sheet recognition for all leases with lease terms greater than one year including a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. The Company adopted ASC 842 as of February 3, 2019 (the "effective date"), using the optional transition method on a modified retrospective basis. The Company did not elect the transitional package of practical expedients or the use of hindsight upon adoption of the ASC. The Company elected to not record a lease liability and corresponding right-of-use asset for leases with terms of 12 months or less, and to account for lease and non-lease components as a single lease component. Upon adoption, the Company recorded lease liabilities based on the present value of the remaining minimum rental payments, using incremental borrowing rates as of the effective date, of $2.9 billion, and the corresponding right-of-use assets of $2.9 billion. The Company also recorded a cumulative-effect adjustment to decrease beginning retained earnings of $19.6 million, primarily related to the write-off of previously capitalized initial direct costs that are no longer capitalized under ASC 842, partially offset by the write-off of the deferred gain on a previous sale-leaseback transaction that meets the sale definition under ASC 842. Reporting periods beginning on or after February 3, 2019 are presented under ASC 842, while prior period amounts and disclosures were not adjusted and continue to be reported under ASC 840. Adoption of ASC 842 did not have a significant impact to the Company’s consolidated statements of earnings or to the consolidated statements of cash flows. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (ASC 606) which, along with subsequent amendments, supersedes the revenue recognition requirements in “Revenue Recognition (ASC 605).” This guidance provides a five-step analysis of transactions to determine when and how revenue is recognized and requires entities to recognize revenue when the customer obtains control of promised goods or services in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. The Company adopted ASC 606 as of February 4, 2018, using the modified retrospective method. Results for reporting periods beginning on or after February 4, 2018 are presented under ASC 606, while prior period amounts were not adjusted and continue to be reported in accordance with ASC 605. Upon adoption of ASC 606, the Company recorded a cumulative-effect adjustment to increase beginning retained earnings by $20 million as of February 4, 2018, primarily due to the change in the timing of the recognition of stored value card breakage. The impact of applying ASC 606 was not material to the Company's consolidated financial statements for the year ended February 2, 2019. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. ASU 2016-18 requires restricted cash and restricted cash equivalents be included with cash and cash equivalents when reconciling the total beginning and ending amounts on the statement of cash flows. The standard also requires companies who report cash and restricted cash separately on the balance sheet to reconcile those amounts to the statement of cash flows. The Company adopted ASU 2016-18 as of February 4, 2018, using the retrospective method. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718) - Improvements to Employee Share-Based Payment Accounting. ASU 2016-09 provides for changes to accounting for stock compensation including 1) excess tax benefits and tax deficiencies related to share-based payment awards will be recognized as income tax benefit or expense in the reporting period in which they occur (previously such amounts were recognized in additional paid-in capital); 2) excess tax benefits will be classified as an operating activity in the statement of cash flows; and 3) the option to elect to estimate forfeitures or account for them when they occur. The impact of recording excess tax benefits in income taxes in the Company's consolidated statement of earnings may be material, depending upon the Company's future stock price on vest date in relation to the fair value of awards on grant date and the future grants of stock-based compensation. The Company adopted ASU 2016-09 in the first quarter of fiscal 2017, and elected to apply this adoption prospectively, except for forfeitures which it adopted on a modified retrospective basis. Accordingly, prior periods have not been adjusted. As a result of adoption, for the fiscal year ended February 3, 2018, the Company recognized $16.3 million of excess tax benefits related to stock-based payments as a reduction to its provision for income taxes. These items were historically recorded in additional paid-in capital. The Company also presented cash flows related to excess tax benefits as an operating activity in the Consolidated Statement of Cash Flows and elected to account for forfeitures as incurred beginning on January 29, 2017. The impact of this accounting policy election for forfeitures was a cumulative-effect adjustment to decrease retained earnings by $1.1 million as of January 29, 2017.
Reclassifications	Reclassifications. Certain items related to income taxes in the prior year’s consolidated statements of cash flows have been reclassified to conform to the current year's presentation.
Fair value measurement	Accounting standards pertaining to fair value measurements establish a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The inputs used to measure fair value include: Level 1, observable inputs such as quoted prices in active markets; Level 2, inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, unobservable inputs in which little or no market data exists. This fair value hierarchy requires the Company to develop its own assumptions and maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Corporate, U.S. government and agency, and mortgage-backed securities are classified within Level 1 or Level 2 because these securities are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs.

Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands

12 Months Ended

Feb. 01, 2020

Feb. 02, 2019

Feb. 03, 2018

Statement of Comprehensive Income [Abstract]

Net earnings

$ 1,660,928

$ 1,587,457

$ 1,362,753

^[1]

Other comprehensive income (loss):

Change in unrealized gain (loss) on investments, net of tax

(27)

(64)

Comprehensive income

$ 1,660,928

$ 1,587,430

$ 1,362,689

[1]	As the result of the adoption of ASU 2016-18, Statement of Cash Flow (Topic 230): Restricted Cash, in fiscal 2018, the prior year amounts were retrospectively adjusted to include restricted cash and cash equivalents. See Note A.

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statements of Cash Flows - USD ($)
$ in Thousands

12 Months Ended

Feb. 01, 2020

Feb. 02, 2019

Feb. 03, 2018

Cash Flows From Operating Activities

Net earnings

$ 1,660,928

$ 1,587,457

$ 1,362,753

^[1]

Adjustments to reconcile net earnings to net cash provided by operating activities:

Depreciation and amortization

350,892

330,357

313,163

^[1]

Stock-based compensation

95,438

95,585

87,417

Gain on sale of assets

(6,328)

Deferred income taxes

32,009

31,777

(34,903)

Change in assets and liabilities:

Merchandise inventory

(81,897)

(108,707)

(128,849)

^[1]

Other current assets

(10,315)

(30,789)

(23,051)

Accounts payable

114,153

110,483

41,322

Other current liabilities

30,513

37,080

65,221

Income taxes

(35,239)

3,706

(1,740)

Operating lease assets and liabilities, net

15,631

Other long-term, net

(567)

9,728

6,333

Net cash provided by operating activities

2,171,546

2,066,677

1,681,338

Cash Flows From Investing Activities

Additions to property and equipment

(555,483)

(413,898)

(371,423)

^[1]

Proceeds from sale of property and equipment

15,981

Proceeds from investments

517

3,489

687

Net cash used in investing activities

(554,966)

(410,409)

(354,755)

Cash Flows From Financing Activities

Payment of long-term debt

(85,000)

Issuance of common stock related to stock plans

22,209

20,112

18,468

Treasury stock purchased

(60,665)

(54,384)

(45,433)

Repurchase of common stock

(1,275,000)

(1,075,000)

(875,000)

Dividends paid

(369,793)

(337,189)

(247,526)

Net cash used in financing activities

(1,683,249)

(1,531,461)

(1,149,491)

Net (decrease) increase in cash, cash equivalents, and restricted cash and cash equivalents

(66,669)

124,807

177,092

Cash and cash equivalents, and restricted cash and cash equivalents:

Beginning of year

1,478,079

1,353,272

1,176,180

End of year

1,411,410

1,478,079

1,353,272

Supplemental Cash Flow Disclosures

Interest paid

12,682

18,105

Income taxes paid

$ 506,591

$ 427,930

$ 714,566

[1]	As the result of the adoption of ASU 2016-18, Statement of Cash Flow (Topic 230): Restricted Cash, in fiscal 2018, the prior year amounts were retrospectively adjusted to include restricted cash and cash equivalents. See Note A.

Stock-Based Compensation (Recognized stock-based compensation expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	$ 95,438	$ 95,585	$ 87,417
Restricted stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	54,975	48,585	44,356
Performance awards
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	36,542	43,450	39,871
ESPP
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	$ 3,921	$ 3,550	$ 3,190

Leases (Tables)

12 Months Ended

Feb. 01, 2020

Leases [Abstract]

Summary of Locations and Expiration Dates of Leased Warehouses

The following table summarizes the location and expiration date of the Company's leased warehouses:


Location			Lease Expiration Date
Leased Distribution Centers/Warehouses
Moreno Valley, California¹			2023
Moreno Valley, California¹			2029
Shafter, California			2029
Shafter, California¹			2020
Carlisle, Pennsylvania			2022
Carlisle, Pennsylvania			2021
Fort Mill, South Carolina			2024
Fort Mill, South Carolina¹			2020
Rock Hill, South Carolina			2028

¹ Operated by a third party.

Schedule of Net Operating Lease Costs

The following table presents net operating lease costs included in the Consolidated Statement of Earnings for fiscal 2019:


($000)	2019
Operating lease cost¹	$	639,545
Variable lease costs²	174,438
Net lease cost³	$	813,983

¹ Net of sublease income which was immaterial.
² Includes property and rent taxes, insurance, common area maintenance, and percentage rent.
³ Excludes short-term lease costs which were immaterial.

Schedule of Maturities of Operating Lease Liabilities

The maturity of operating lease liabilities, including the ground lease related to the New York buying office as of February 1, 2020, are as follows:


($000)	Operating Leases¹
2020	$	607,490
2021	633,846
2022	557,484
2023	469,211
2024	359,101
Thereafter	1,613,176
Total lease payments	$	4,240,308
Less: interest	1,065,299
Present value of lease liabilities	$	3,175,009
Less: current operating lease liabilities	564,481
Non-current operating lease liabilities	$	2,610,528

¹ Operating leases exclude $266.8 million of minimum lease payments for leases signed that have not yet commenced.

Future Minimum Annual Lease Payments

In accordance with ASC 840, the aggregate undiscounted future minimum annual lease payments under leases, including the ground lease related to the New York buying office, in effect at February 2, 2019 are as follows:



($000)	Total operating leases
2020	$	555,812
2021	580,712
2022	499,678
2023	424,695
2024	339,340
Thereafter	1,575,673
Total minimum lease payments	$	3,975,910

Summary of Significant Accounting Policies (Schedule Of Other Long-Term Liabilities) (Details) - USD ($) $ in Thousands	Feb. 01, 2020	Feb. 02, 2019
Accounting Policies [Abstract]
Income taxes (Note F)	$ 65,956	$ 77,872
Deferred compensation (Note G)	141,443	124,558
Deferred rent		81,442
Tenant improvement allowances	0	25,418
Other	6,687	12,423
Total	$ 214,086	$ 321,713

Litigation, Claims, and Assessments	12 Months Ended
Litigation, Claims, and Assessments	Feb. 01, 2020
Commitments and Contingencies Disclosure [Abstract]
Litigation, Claims, and Assessments	Litigation, Claims, and Assessments Like many retailers, the Company has been named in class/representative action lawsuits, primarily in California, alleging violation of wage and hour laws and consumer protection laws. Class/representative action litigation remains pending as of February 1, 2020. The Company is also party to various other legal and regulatory proceedings arising in the normal course of business. Actions filed against the Company may include commercial, product and product safety, consumer, intellectual property, environmental, and labor and employment-related claims, including lawsuits in which private plaintiffs or governmental agencies allege that the Company violated federal, state, and/or local laws. Actions against the Company are in various procedural stages. Many of these proceedings raise factual and legal issues and are subject to uncertainties. In the opinion of management, the resolution of pending class/representative action litigation and other currently pending legal and regulatory proceedings will not have a material adverse effect on the Company’s financial condition, results of operations, or cash flows.

Taxes on Earnings (Tables)

12 Months Ended

Feb. 01, 2020

Income Tax Disclosure [Abstract]

Schedule for Income Tax Provision

The provision for income taxes consisted of the following:


($000)	2019		2018		2017
Current
Federal	$	414,823	$	357,170	$	660,017
State	56,528		74,472		52,853
	471,351		431,642		712,870
Deferred
Federal	28,244		33,913		(40,468)
State	3,765		(2,136)		5,565
	32,009		31,777		(34,903)
Total	$	503,360	$	463,419	$	677,967

Provision for Taxes Effective Rate

The provision for taxes for financial reporting purposes is different from the tax provision computed by applying the statutory federal income tax rate. The differences are reconciled below:


	2019		2018		2017
Federal income taxes at the statutory rate	21	%	21	%	34	%
State income taxes (net of federal benefit) and other, net	2		3		2
Tax audit settlements	—		(1)		—
Impact of the Tax Act on deferred taxes	—		—		(3)
Total	23	%	23	%	33	%

Components of Deferred Income Taxes

The components of deferred taxes at February 1, 2020 and February 2, 2019 are as follows:


($000)	2019			2018
Deferred Tax Assets
Accrued liabilities	$	35,242		$	38,367
Deferred compensation	33,108			30,886
Stock-based compensation	35,290			36,118
Deferred rent	—			19,824
State taxes and credits	20,178			20,310
Employee benefits	18,425			18,845
Operating lease liabilities	797,467		¹	—
Other	3,353			1,412
Gross Deferred Tax Assets	943,063			165,762
Less: Valuation allowance	(4,590)			(4,639)
Deferred Tax Assets	938,473			161,123

Deferred Tax Liabilities
Depreciation	(273,255)			(238,631)
Merchandise inventory	(26,376)			(25,686)
Supplies	(10,972)			(10,308)
Operating lease assets	(766,874)		¹	—
Other	(10,675)			(10,806)
Deferred Tax Liabilities	(1,088,152)			(285,431)
Net Deferred Tax Liabilities	$	(149,679)		$	(124,308)

¹Fiscal 2019 reflects the impact of adoption of ASU 2016-02, Leases (ASC 842) on a modified retrospective basis; fiscal 2018 was not restated.

Unrecognized Tax Benefits

The changes in amounts of unrecognized tax benefits (gross of federal tax benefits and excluding interest and penalties) at fiscal 2019, 2018, and 2017 are as follows:


($000)	2019		2018		2017
Unrecognized tax benefits - beginning of year	$	65,787	$	98,666	$	81,122
Gross increases:
Tax positions in current period	13,864		14,722		26,837
Tax positions in prior period	2,672		1,843		—
Gross decreases:
Tax positions in prior periods	(9,559)		(40,600)		(2,755)
Lapse of statutes of limitations	(8,653)		(8,584)		(6,068)
Settlements	(4,224)		(260)		(470)
Unrecognized tax benefits - end of year	$	59,887	$	65,787	$	98,666

Related Party Transactions	12 Months Ended
Related Party Transactions	Feb. 01, 2020
Related Party Transaction, Due from (to) Related Party [Abstract]
Related Party Transactions	Related Party Transactions The Company has a consulting agreement with Norman Ferber, its Chairman Emeritus of the Board of Directors, under which the Company paid him $2.1 million, $1.9 million, and $1.6 million in fiscal 2019, 2018, and 2017, respectively. In addition, the agreement provides for administrative support and health and other benefits for him and his dependents, which totaled approximately $0.4 million, $0.4 million, and $0.4 million in fiscal 2019, 2018, and 2017, respectively, along with amounts to cover premiums through May 2021 on a life insurance policy with a death benefit of $2.0 million. Mr. Ferber's current consulting agreement pays him an annual consulting fee of $2.3 million through May 2021. On termination of Mr. Ferber’s consultancy with the Company, the Company will pay Mr. Ferber $75,000 per year for a period of 10 years. Robert Ferber, the son of Norman Ferber, is a buyer with the Company. The Company paid Robert Ferber compensation including salary and bonus of approximately $209,000, $180,000, and $159,000 in fiscal 2019, 2018, and 2017, respectively.

Investments and Restricted Investments (Tables)

12 Months Ended

Feb. 01, 2020

Fair Value Disclosures [Abstract]

Fair Value, By Balance Sheet Grouping

The fair value of the Company’s financial instruments as of February 1, 2020 and February 2, 2019 are as follows:


($000)	2019		2018
Cash and cash equivalents (Level 1)	$	1,351,205	$	1,412,912


Investments (Level 2)	$	8	$	125

Restricted cash and cash equivalents (Level 1)	$	60,205	$	65,167



Restricted investments (Level 2)	$	—	$	400

Schedule Of Fair Value, Assets And Liabilities Measured on Recurring Basis

The fair value measurement for funds with quoted market prices in active markets (Level 1) and for funds without quoted market prices in active markets (Level 2) are as follows:


($000)	2019		2018
Level 1	$	134,440	$	114,181
Level 2	7,003		10,377
Total	$	141,443	$	124,558

Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 01, 2020	Feb. 02, 2019
Current Assets
Cash and cash equivalents	$ 1,351,205	$ 1,412,912
Accounts receivable	102,236	96,711
Merchandise inventory	1,832,339	1,750,442
Prepaid expenses and other	147,048	143,954
Total current assets	3,432,828	3,404,019
Property and Equipment
Land and buildings	1,177,262	1,126,051
Fixtures and equipment	3,115,003	2,783,198
Leasehold improvements	1,219,736	1,175,921
Construction-in-progress	189,536	171,538
Property and equipment, gross	5,701,537	5,256,708
Less accumulated depreciation and amortization	3,048,101	2,781,507
Property and equipment, net	2,653,436	2,475,201
Operating lease assets	3,053,782
Other long-term assets	208,321	194,471
Total assets	9,348,367	6,073,691
Current Liabilities
Accounts payable	1,296,482	1,177,104
Accrued expenses and other	462,111	431,596
Less: current operating lease liabilities	564,481
Accrued payroll and benefits	364,435	363,035
Income taxes payable	14,425	37,749
Total current liabilities	2,701,934	2,009,484
Long-term debt	312,891	312,440
Non-current operating lease liabilities	2,610,528
Other long-term liabilities	214,086	321,713
Deferred income taxes	149,679	124,308
Commitments and contingencies
Stockholders’ Equity
Common stock, par value $.01 per share, Authorized 1,000,000,000 shares, issued and outstanding 368,242,000 and 379,618,000 shares, respectively	3,568	3,682
Additional paid-in capital	1,458,307	1,375,965
Treasury stock	(433,328)	(372,663)
Retained earnings	2,330,702	2,298,762
Total stockholders’ equity	3,359,249	3,305,746
Total liabilities and stockholders’ equity	$ 9,348,367	$ 6,073,691
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	356,775,000	368,242,000
Common stock, shares outstanding (in shares)	356,775,000	368,242,000

Stockholders' Equity (Dividends) (Details) - $ / shares		1 Months Ended												3 Months Ended								12 Months Ended
Stockholders' Equity (Dividends) (Details) - $ / shares	Mar. 03, 2020	Nov. 30, 2019	Aug. 31, 2019	May 31, 2019	Mar. 31, 2019	Nov. 30, 2018	Aug. 31, 2018	May 31, 2018	Mar. 31, 2018	Nov. 30, 2017	Aug. 31, 2017	May 30, 2017	Feb. 28, 2017	Feb. 01, 2020	Nov. 02, 2019	Aug. 03, 2019	May 04, 2019	Feb. 02, 2019	Nov. 03, 2018	Aug. 04, 2018	May 05, 2018	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Stockholders' Equity Note [Abstract]
Cash dividends declared per share (in dollars per share)		$ 0.255	$ 0.255	$ 0.255	$ 0.255	$ 0.225	$ 0.225	$ 0.225	$ 0.225	$ 0.160	$ 0.160	$ 0.160	$ 0.160	$ 0.255	$ 0.255	$ 0.255	$ 0.255	$ 0.225	$ 0.225	$ 0.225	$ 0.225	$ 1.02	$ 0.90	$ 0.64
Class of Stock [Line Items]
Cash dividends declared per share (in dollars per share)		$ 0.255	$ 0.255	$ 0.255	$ 0.255	$ 0.225	$ 0.225	$ 0.225	$ 0.225	$ 0.160	$ 0.160	$ 0.160	$ 0.160	$ 0.255	$ 0.255	$ 0.255	$ 0.255	$ 0.225	$ 0.225	$ 0.225	$ 0.225	$ 1.02	$ 0.90	$ 0.64
Subsequent Event
Stockholders' Equity Note [Abstract]
Cash dividends declared per share (in dollars per share)	$ 0.285
Class of Stock [Line Items]
Cash dividends declared per share (in dollars per share)	$ 0.285

Subsequent Events	1 Months Ended
Subsequent Events	Mar. 25, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The United States and other countries are experiencing a major global health pandemic related to the outbreak of a novel strain of coronavirus, COVID-19. Governmental authorities in affected regions are taking increasingly dramatic action in an effort to slow down the spread of the disease. As part of a growing number of retailers across the country, the Company has temporarily closed all store locations effective March 20, 2020 through April 3, 2020. The Company has closed its buying and corporate offices, and its distribution centers, for the same period. The Company is monitoring the situation and will reopen stores as conditions permit; however, extended or further closures may be required nationally, regionally, or in specific locations. Given the unprecedented uncertainty of this situation, including the unknown duration and severity of the pandemic and the unknown overall impact on consumer demand, the Company is unable to forecast the full impact on its business; however, the Company now expects that impacts from the COVID-19 pandemic and the related economic disruption will have a material adverse impact on its consolidated results of operations, consolidated financial position, and consolidated cash flows in fiscal 2020. Due to the current economic uncertainty stemming from the severe impact of the COVID-19 pandemic, and to provide enhanced financial flexibility, the Company borrowed $800 million from its revolving credit facility in March 2020, which bears interest at LIBOR plus 0.75% (currently 1.61%), and is temporarily suspending its stock repurchase program.

Stockholders' Equity (Restricted Stock Activity) (Details) - Restricted stock shares in Thousands	12 Months Ended
	Feb. 01, 2020 $ / shares shares
Number of shares
Unvested at beginning of period (in shares) \| shares	5,130
Awarded (in shares) \| shares	1,422
Released (in shares) \| shares	(1,782)
Forfeited (in shares) \| shares	(376)
Unvested at end of period (in shares) \| shares	4,394
Weighted-average grant date fair value
Unvested at beginning of period, Weighted average grant date fair value (in dollars per share) \| $ / shares	$ 62.50
Awarded, Weighted average grant date fair value (in dollars per share) \| $ / shares	95.25
Released, Weighted average grant date fair value (in dollars per share) \| $ / shares	53.14
Forfeited, Weighted average grant date fair value (in dollars per share) \| $ / shares	70.90
Unvested at end of period, Weighted average grant date fair value (in dollars per share) \| $ / shares	$ 76.20

Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Feb. 01, 2020

Quarterly Financial Data [Abstract]

Schedule of Quarterly Financial Data

Summarized quarterly financial information for fiscal 2019 and 2018 is presented in the tables below.

Year ended February 1, 2020:






	Quarter Ended
($000, except per share data)	May 4, 2019		August 3, 2019		November 2, 2019		February 1, 2020
Sales	$	3,796,642	$	3,979,869	$	3,849,117	$	4,413,445

Cost of goods sold	2,701,668		2,843,850		2,766,432		3,224,237
Selling, general and administrative	558,250		591,970		604,605		601,879
Interest income, net	(5,635)		(4,782)		(4,402)		(3,287)
Total costs and expenses	3,254,283		3,431,038		3,366,635		3,822,829
Earnings before taxes	542,359		548,831		482,482		590,616
Provision for taxes on earnings	121,217		136,110		111,550		134,483
Net earnings	$	421,142	$	412,721	$	370,932	$	456,133


Earnings per share – basic¹	$	1.16	$	1.15	$	1.04	$	1.29	²
Earnings per share – diluted¹	$	1.15	$	1.14	$	1.03	$	1.28	²
Cash dividends declared per share
on common stock	$	0.255	$	0.255	$	0.255	$	0.255


¹			EPS is computed independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of changes in average quarterly shares outstanding.
²			Includes a per share benefit of approximately $0.02 primarily related to the favorable resolution of a tax matter.

Year ended February 2, 2019:


	Quarter Ended
($000, except per share data)	May 5, 2018		August 4, 2018		November 3, 2018		February 2, 2019
Sales	$	3,588,619	$	3,737,926	$	3,549,608	$	4,107,388

Cost of goods sold	2,522,219		2,666,983		2,547,331		2,989,744
Selling, general and administrative	524,423		554,581		561,577		575,969
Interest income, net	(503)		(1,393)		(2,953)		(5,313)
Total costs and expenses	3,046,139		3,220,171		3,105,955		3,560,400
Earnings before taxes	542,480		517,755		443,653		546,988
Provision for taxes on earnings	124,228		128,351		105,545		105,295
Net earnings	$	418,252	$	389,404	$	338,108	$	441,693


Earnings per share – basic¹	$	1.12	$	1.05	$	0.92	$	1.21	²
Earnings per share – diluted¹	$	1.11	$	1.04	$	0.91	$	1.20	²
Cash dividends declared per share
on common stock	$	0.225	$	0.225	$	0.225	$	0.225


¹			EPS is computed independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of changes in average quarterly shares outstanding.
²			Includes a per share benefit of approximately $0.07 from the favorable resolution of a tax matter.

Investments and Restricted Investments

12 Months Ended

Feb. 01, 2020

Fair Value Disclosures [Abstract]

Investments And Restricted Investments

Investments and Restricted Investments

Accounting standards pertaining to fair value measurements establish a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The inputs used to measure fair value include: Level 1, observable inputs such as quoted prices in active markets; Level 2, inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, unobservable inputs in which little or no market data exists. This fair value hierarchy requires the Company to develop its own assumptions and maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Corporate, U.S. government and agency, and mortgage-backed securities are classified within Level 1 or Level 2 because these securities are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs.

There were no transfers between Level 1 and Level 2 categories during the fiscal year ended February 1, 2020. The fair value of the Company’s financial instruments as of February 1, 2020 and February 2, 2019 are as follows:


($000)	2019		2018
Cash and cash equivalents (Level 1)	$	1,351,205	$	1,412,912


Investments (Level 2)	$	8	$	125

Restricted cash and cash equivalents (Level 1)	$	60,205	$	65,167



Restricted investments (Level 2)	$	—	$	400

The underlying assets in the Company’s non-qualified deferred compensation program as of February 1, 2020 and February 2, 2019 (included in Other long-term assets and in Other long-term liabilities) primarily consist of participant-directed money market, stable value, stock, and bond funds. The fair value measurement for funds with quoted market prices in active markets (Level 1) and for funds without quoted market prices in active markets (Level 2) are as follows:


($000)	2019		2018
Level 1	$	134,440	$	114,181
Level 2	7,003		10,377
Total	$	141,443	$	124,558

Debt

12 Months Ended

Feb. 01, 2020

Debt Disclosure [Abstract]

Debt

Senior notes. Unsecured senior debt, net of unamortized discounts and debt issuance costs, as of February 1, 2020 and February 2, 2019 consisted of the following:


($000)	2019		2018
6.53% Series B Senior Notes due 2021	$	64,963	$	64,942
3.375% Senior Notes due 2024	247,928		247,498
Total long-term debt	$	312,891	$	312,440

As of February 1, 2020, the Company had outstanding Series B unsecured Senior Notes in the aggregate principal amount of $65 million, held by various institutional investors. The Series B notes are due in December 2021 and bear interest at a rate of 6.53%. Borrowings under these Senior Notes are subject to certain financial covenants, including interest coverage and other financial ratios. As of February 1, 2020, the Company was in compliance with these covenants.

As of February 1, 2020, the Company also had outstanding unsecured 3.375% Senior Notes due September 2024 (the “2024 Notes”) with an aggregate principal amount of $250 million. Interest on the 2024 Notes is payable semi-annually.

On December 13, 2018, the Company repaid at maturity the $85 million principal amount of the Series A 6.38% unsecured Senior Notes.

As of February 1, 2020 and February 2, 2019, total unamortized discount and debt issuance costs were $2.1 million and $2.6 million, respectively, and were classified as a reduction of long-term debt.

The 2024 Notes, and the Series B Senior Notes are subject to prepayment penalties for early payment of principal.

The aggregate fair value of the two outstanding series of Senior Notes was approximately $335 million and $316 million as of February 1, 2020 and February 2, 2019, respectively. The fair value is estimated by obtaining comparable market quotes which are considered to be Level 1 inputs under the fair value measurements and disclosures guidance.

The following table shows scheduled annual principal payments on long-term debt:


($000)
2020	$	—
2021	$	65,000
2022	$	—
2023	$	—
2024	$	250,000
Thereafter	$	—

The table below shows the components of interest expense and income for fiscal 2019, 2018, and 2017:


($000)	2019		2018		2017
Interest expense on long-term debt	$	13,139	$	17,900	$	18,578
Other interest expense	968		1,004		979
Capitalized interest	(4,367)		(2,497)		(710)
Interest income	(27,846)		(26,569)		(11,171)
Interest (income) expense, net	$	(18,106)	$	(10,162)	$	7,676

Revolving credit facility. In July 2019, the Company entered into a new $800 million unsecured revolving credit facility, which replaced the Company's previous $600 million unsecured revolving credit facility. This new credit facility expires in July 2024, and contains a $300 million sublimit for issuance of standby letters of credit. The facility also contains an option allowing the Company to increase the size of its credit facility by up to an additional $300 million, with the agreement of the lenders. Interest on borrowings under this facility is based on LIBOR (or an alternate benchmark rate, if LIBOR is no longer available) plus an applicable margin (currently 75 basis points) and is payable quarterly and upon maturity. As of February 1, 2020, the Company had no borrowings or standby letters of credit outstanding under this facility and the $800 million credit facility remained in place and available.

Subsequent to year end, in March 2020, the Company borrowed $800 million from its revolving credit facility, which bears interest at LIBOR plus 0.75% (currently 1.61%), to add to its cash balances in order to provide enhanced financial flexibility due to uncertain market conditions arising from the impact of the COVID-19 pandemic.

The revolving credit facility is subject to a financial leverage ratio covenant. As of February 1, 2020, the Company was in compliance with this covenant.

Standby letters of credit and collateral trust. The Company uses standby letters of credit outside of its revolving credit facility in addition to a funded trust to collateralize its insurance obligations. As of February 1, 2020 and February 2, 2019, the Company had $4.2 million and $7.3 million, respectively, in standby letters of credit and $56.0 million and $58.3 million, respectively, in a collateral trust. The standby letters of credit are collateralized by restricted cash and the collateral trust consists of restricted cash, cash equivalents, and investments.

Trade letters of credit. The Company had $11.2 million and $13.3 million in trade letters of credit outstanding at February 1, 2020 and February 2, 2019, respectively.

Stockholders' Equity (2017 Equity Incentive Plan) (Details) - shares shares in Millions	May 17, 2017	Feb. 01, 2020
2017 Equity Incentive Plan
Class of Stock [Line Items]
Initial share reserve (in shares)	12.0
Shares available for new restricted stock awards (in shares)		10.7
2008 and 2017 Equity Plan
Class of Stock [Line Items]
Share increase for equity plan (in shares)	5.5

Leases (Narrative) (Details) ft² in Thousands, $ in Thousands		1 Months Ended	12 Months Ended
	Feb. 03, 2019 USD ($)	Nov. 30, 2017 USD ($)	Feb. 01, 2020 USD ($) ft² warehouse stores option	Feb. 02, 2019 USD ($)	Feb. 03, 2018 USD ($)
Operating Leased Assets [Line Items]
Number of store sites owned \| stores			2
Non-cancelable lease term		10 years
Renewal option term of leases			5 years
Proceeds from sale of property and equipment		$ 16,000	$ 0	$ 0	$ 15,981
Gain on sale of leaseback transaction		6,300	$ 0	0	6,328
Deferred gain on sale of leaseback transaction		$ 7,500
Operating lease, weighted average remaining lease term			10 years 8 months 12 days
Operating lease, weighted average discount rate (percent)			3.50%
Operating lease, weighted average remaining lease term, excluding ground leases			6 years 1 month 6 days
Operating lease, weighted average discount rate, excluding ground leases (percent)			0.031
Payments for operating lease liabilities			$ 608,600
Right-of-use assets obtained in exchange for operating lease liabilities			$ 739,300
Operating leases, rent expense				$ 569,800	$ 532,400
Warehouse
Operating Leased Assets [Line Items]
Number of leased distribution centers/warehouses \| warehouse			9
Accounting Standards Update 2016-02
Operating Leased Assets [Line Items]
Write off of deferred gain related to sale leaseback transaction	$ 6,500
Los Angeles
Operating Leased Assets [Line Items]
Square feet of office space leased \| ft²			103
Boston
Operating Leased Assets [Line Items]
Square feet of office space leased \| ft²			5
Minimum
Operating Leased Assets [Line Items]
Non-cancelable lease term			3 years
Number of options to renew store lease for five year period \| option			3
Maximum
Operating Leased Assets [Line Items]
Non-cancelable lease term			10 years
Number of options to renew store lease for five year period \| option			4

Summary of Significant Accounting Policies (Narrative) (Details)

12 Months Ended

Feb. 01, 2020

USD ($)

stores

state

store

segment

Feb. 02, 2019

USD ($)

Feb. 03, 2018

USD ($)

Feb. 03, 2019

USD ($)

Feb. 04, 2018

USD ($)

Jan. 29, 2017

USD ($)

Summary Of Significant Accounting Policies [Line Items]

Number of reportable segments | segment

Restricted investments

$ 400,000

Cash and cash equivalents

$ 1,351,205,000

1,412,912,000

$ 1,290,294,000

Packaway inventory, storage period, less than

6 months

Depreciation and amortization expense on property and equipment

$ 350,892,000

330,357,000

313,163,000

^[1]

Capitalized interest

4,367,000

2,497,000

710,000

Asset impairment charges

Book cash overdrafts

138,800,000

83,200,000

Expected recovery of merchandise inventory

10,700,000

10,200,000

Refund due to customers

20,900,000

19,800,000

Allowance for sales return

9,900,000

Advertising costs

$ 74,000,000.0

$ 79,900,000

$ 76,400,000

Anti-dilutive weighted average shares excluded from EPS calculation (in shares) | shares

27,400

23,700

2,800

Operating lease liability

$ 3,175,009,000

Operating lease assets

3,053,782,000

Accounting Standards Update 2016-02

Summary Of Significant Accounting Policies [Line Items]

Operating lease liability

$ 2,900,000,000

Operating lease assets

2,900,000,000

Cumulative effect of adoption of accounting standard

19,614,000

Accounting Standards Update 2016-02 | Retained earnings

Summary Of Significant Accounting Policies [Line Items]

Cumulative effect of adoption of accounting standard

$ 19,614,000

$ 20,000,000

Accounting Standards Update 2016-09

Summary Of Significant Accounting Policies [Line Items]

Cumulative effect of adoption of accounting standard

$ (676,000)

13,300,000

$ 12,600,000

$ 16,300,000

Accounting Standards Update 2016-09 | Retained earnings

Summary Of Significant Accounting Policies [Line Items]

Cumulative effect of adoption of accounting standard

$ 1,113,000

Property, Plant and Equipment

Summary Of Significant Accounting Policies [Line Items]

Property and equipment purchased but not yet paid

$ 40,300,000

$ 33,700,000

$ 24,300,000

Minimum | Equipment

Summary Of Significant Accounting Policies [Line Items]

Property and equipment estimated useful life, straight-line method

3 years

Minimum | Land Improvements and Buildings

Summary Of Significant Accounting Policies [Line Items]

Property and equipment estimated useful life, straight-line method

20 years

Minimum | Computer Software

Summary Of Significant Accounting Policies [Line Items]

Property and equipment estimated useful life, straight-line method

3 years

Maximum | Equipment

Summary Of Significant Accounting Policies [Line Items]

Property and equipment estimated useful life, straight-line method

12 years

Maximum | Land Improvements and Buildings

Summary Of Significant Accounting Policies [Line Items]

Property and equipment estimated useful life, straight-line method

40 years

Maximum | Computer Software

Summary Of Significant Accounting Policies [Line Items]

Property and equipment estimated useful life, straight-line method

7 years

Ross Dress For Less

Summary Of Significant Accounting Policies [Line Items]

Number of stores | stores

1,546

Number of states company operates in | state

dd's Discounts

Summary Of Significant Accounting Policies [Line Items]

Number of stores | store

259

Number of states company operates in | state

[1]	As the result of the adoption of ASU 2016-18, Statement of Cash Flow (Topic 230): Restricted Cash, in fiscal 2018, the prior year amounts were retrospectively adjusted to include restricted cash and cash equivalents. See Note A.

Stockholders' Equity (Preferred Stock) (Details)	Feb. 01, 2020 $ / shares shares
Stockholders' Equity Note [Abstract]
Preferred stock, shares authorized (in shares)	4,000,000.0
Preferred stock, par value (in dollars per share) \| $ / shares	$ 0.01
Preferred stock, shares issued (in shares)	0
Preferred stock, shares outstanding (in shares)	0

Stockholders' Equity (Tables)

12 Months Ended

Feb. 01, 2020

Stockholders' Equity Note [Abstract]

Schedule of Stock Repurchase Activity

The following table summarizes the Company’s stock repurchase activity in fiscal 2019, 2018, and 2017:


Fiscal Year	Shares repurchased (in millions)	Average repurchase price	Repurchased (in millions)
2019	12.3	$103.99	$1,275
2018	12.5	$86.19	$1,075
2017	13.5	$64.87	$875

Summary of Unvested Restricted Stock Activity

A summary of restricted stock and performance share award activity for fiscal 2019 is presented below:


	Number of shares (000)	Weighted-average grant date fair value

Unvested at February 2, 2019	5,130	$62.50
Awarded	1,422	95.25
Released	(1,782)	53.14
Forfeited	(376)	70.90
Unvested at February 1, 2020	4,394	$76.20

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	1 Months Ended												3 Months Ended								12 Months Ended
	Nov. 30, 2019	Aug. 31, 2019	May 31, 2019	Mar. 31, 2019	Nov. 30, 2018	Aug. 31, 2018	May 31, 2018	Mar. 31, 2018	Nov. 30, 2017	Aug. 31, 2017	May 30, 2017	Feb. 28, 2017	Feb. 01, 2020	Nov. 02, 2019	Aug. 03, 2019	May 04, 2019	Feb. 02, 2019	Nov. 03, 2018	Aug. 04, 2018	May 05, 2018	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per share (in dollars per share)	$ 0.255	$ 0.255	$ 0.255	$ 0.255	$ 0.225	$ 0.225	$ 0.225	$ 0.225	$ 0.160	$ 0.160	$ 0.160	$ 0.160	$ 0.255	$ 0.255	$ 0.255	$ 0.255	$ 0.225	$ 0.225	$ 0.225	$ 0.225	$ 1.02	$ 0.90	$ 0.64

Stock-Based Compensation (Total Stock-Based Compensation Recognized In The Consolidated Statements Of Earnings) (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	$ 95,438	$ 95,585	$ 87,417
Cost of goods sold
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	54,265	45,052	41,067
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	$ 41,173	$ 50,533	$ 46,350

Summary of Significant Accounting Policies (Summary Of Insurance Obligations) (Details) - USD ($) $ in Thousands	Feb. 01, 2020	Feb. 02, 2019
Accounting Policies [Abstract]
Workers’ compensation	$ 87,063	$ 89,993
General liability	44,371	42,877
Medical plans	6,430	6,515
Total	$ 137,864	$ 139,385

Debt (Narrative) (Details) - USD ($)		1 Months Ended	12 Months Ended
Debt (Narrative) (Details) - USD ($)	Dec. 13, 2018	Mar. 31, 2020	Feb. 01, 2020	Jul. 31, 2019	Jun. 30, 2019	Feb. 02, 2019
Debt Instrument [Line Items]
Unamortized discount and debt issuance costs			$ 2,100,000			$ 2,600,000
Amount of borrowings outstanding			0
Collateral trust			56,000,000.0			58,300,000
Unsecured Series A and B Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount of unsecured senior notes			65,000,000
Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Current borrowing capacity			$ 800,000,000	$ 800,000,000	$ 600,000,000
Sublimit for issuance of standby letters of credit				300,000,000
Maximum borrowing capacity for revolving credit facility (up to)				$ 300,000,000
Interest rate, margin in addition to LIBOR (percent)			7500.00%
Unsecured Revolving Credit Facility \| Subsequent Event
Debt Instrument [Line Items]
Interest rate, margin in addition to LIBOR (percent)		0.75%
Amount borrowed from revolving credit facility		$ 800,000,000
Current interest rate for revolving credit facility borrowings (percent)		1.61%
Standby Letters of Credit
Debt Instrument [Line Items]
Letters of credit			$ 4,200,000			7,300,000
Trade Letters Of Credit
Debt Instrument [Line Items]
Letters of credit			$ 11,200,000			13,300,000
Senior Notes due 2021 \| 6.53% Series B Senior Notes due 2021
Debt Instrument [Line Items]
Unsecured senior notes interest rate (in percentage)			6.53%
Senior Notes due 2024 \| 3.375% Senior Notes due 2024
Debt Instrument [Line Items]
Aggregate principal amount of unsecured senior notes			$ 250,000,000
Unsecured senior notes interest rate (in percentage)			3.375%
Senior Notes due 2018
Debt Instrument [Line Items]
Unsecured senior notes interest rate (in percentage)	6.38%
Senior Notes due 2018 \| Series A Unsecured Senior Notes
Debt Instrument [Line Items]
Extinguishment of debt	$ 85,000,000
Level 1
Debt Instrument [Line Items]
Unsecured senior notes estimated fair value			$ 335,000,000			$ 316,000,000

Related Party Transactions (Details) - USD ($)	12 Months Ended
Related Party Transactions (Details) - USD ($)	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Chairman Emeritus of the Board of Directors \| Consulting Agreement
Related Party Transaction [Line Items]
Related party transaction amount	$ 2,100,000	$ 1,900,000	$ 1,600,000
Chairman Emeritus of the Board of Directors, administrative support, health, other benefits	400,000	400,000	400,000
Chairman Emeritus of the Board of Directors, life insurance death benefit	2,000,000.0
Chairman Emeritus of the Board of Directors, consulting fee	2,300,000
Chairman Emeritus of the Board of Directors, severance pay	$ 75,000
Chairman Emeritus of the Board of Directors, severance term	10 years
Immediate Family Member of Management or Principal Owner \| Buyer
Related Party Transaction [Line Items]
Son of Chairman Emeritus of the Board of Directors, compensation expense	$ 209,000	$ 180,000	$ 159,000

Investments and Restricted Investments (Balance Sheet Items) (Details) - USD ($) $ in Thousands	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash and cash equivalents (Level 1)	$ 60,205	$ 65,167	$ 62,978
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents (Level 1)	1,351,205	1,412,912
Restricted cash and cash equivalents (Level 1)	60,205	65,167
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments (Level 2)	8	125
Restricted investments (Level 2)	$ 0	$ 400

Taxes on Earnings (Provision For Taxes Effective Rate) (Details)	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Income Tax Disclosure [Abstract]
Federal income taxes at the statutory rate (percent)	21.00%	21.00%	34.00%
State income taxes (net of federal benefit) and other, net (percent)	2.00%	3.00%	2.00%
Tax audit settlements (percent)	0.00%	(1.00%)	0.00%
Impact of the Tax Act on deferred taxes (percent)	0.00%	0.00%	(3.00%)
Total (percent)	23.00%	23.00%	33.00%

Stockholders' Equity (Restricted Stock Activity, Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized compensation expense	$ 158.4	$ 138.1
Weighted average remaining period of unrecognized compensation expense	2 years
Intrinsic value per share, end of period (in dollars per share)	$ 112.19
Intrinsic value, end of period	$ 493.0
Treasury stock shares acquired (in shares)	0.6	0.7	0.7
Treasury stock, number of shares held (in shares)	13.8	13.2
Restricted stock \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period	3 years
Restricted stock \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period	5 years
2017 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for new restricted stock awards (in shares)	10.7
2017 Equity Incentive Plan \| Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for new restricted stock awards (in shares)	10.7
2008 Equity Incentive Plan \| Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for new restricted stock awards (in shares)		11.2	11.9

Stock-Based Compensation

12 Months Ended

Feb. 01, 2020

Share-based Payment Arrangement, Noncash Expense [Abstract]

Stock-Based Compensation

For fiscal 2019, 2018, and 2017, the Company recognized stock-based compensation expense as follows:



($000)	2019		2018		2017
Restricted stock	$	54,975	$	48,585	$	44,356
Performance awards	36,542		43,450		39,871
ESPP	3,921		3,550		3,190
Total	$	95,438	$	95,585	$	87,417

Capitalized stock-based compensation cost was not significant in any year.

At February 1, 2020, the Company had one active stock-based compensation plan, which is further described in Note H. The Company recognizes expense for ESPP purchase rights equal to the value of the 15% discount given on the purchase date.

Total stock-based compensation recognized in the Company’s Consolidated Statements of Earnings for fiscal 2019, 2018, and 2017 is as follows:


Statements of Earnings Classification ($000)	2019		2018		2017
Cost of goods sold	$	54,265	$	45,052	$	41,067
Selling, general and administrative	41,173		50,533		46,350
Total	$	95,438	$	95,585	$	87,417

The tax benefits related to stock-based compensation expense for fiscal 2019, 2018, and 2017 were $18.5 million, $19.6 million, and $29.5 million, respectively.

Investments and Restricted Investments (Underlying Assets in Deferred Compensation Program) (Details) - USD ($) $ in Thousands	Feb. 01, 2020	Feb. 02, 2019
Defined Benefit Plan Disclosure [Line Items]
Other long-term assets of long-term plan investments	$ 141,443	$ 124,558
Level 1
Defined Benefit Plan Disclosure [Line Items]
Other long-term assets of long-term plan investments	134,440	114,181
Level 2
Defined Benefit Plan Disclosure [Line Items]
Other long-term assets of long-term plan investments	$ 7,003	$ 10,377

Stockholders' Equity (Employee Stock Purchase Plan) (Details) - USD ($) $ / shares in Units, shares in Millions	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Stockholders' Equity Note [Abstract]
Plan participant's annual percentage ceiling for ESPP (in percentage)	10.00%
Plan participant's annual dollar amount ceiling for ESPP	$ 25,000
Purchase price for shares under ESPP (in percentage)	85.00%
Discount rate under the ESPP (in percentage)	15.00%
Shares purchased by employees (in shares)	0.3	0.3	0.3
Shares purchased by employees, average price per share (in dollars per share)	$ 88.45	$ 72.89	$ 56.42
Shares issued under plan during period (in shares)	40.2
Shares remaining for future issuance (in shares)	4.8

Summary of Significant Accounting Policies (Schedule of Restricted Cash Reconciliation) (Details) - USD ($) $ in Thousands	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Accounting Policies [Abstract]
Cash and cash equivalents	$ 1,351,205	$ 1,412,912	$ 1,290,294
Restricted cash and cash equivalents included in:
Prepaid expenses and other	10,235	11,402	9,412
Other long-term assets	49,970	53,765	53,566
Total restricted cash and cash equivalents	60,205	65,167	62,978
Total cash, cash equivalents and restricted cash and equivalents	$ 1,411,410	$ 1,478,079	$ 1,353,272	$ 1,176,180

Leases

12 Months Ended

Feb. 01, 2020

Leases [Abstract]

Leases

The Company currently leases all but two of its store locations with original, non-cancelable terms that in general range from three to ten years. Store leases typically contain provisions for three to four renewal options of five years each. The exercise of lease renewal options is at the sole discretion of the Company. Most store leases also provide for minimum annual rentals and for payment of variable lease costs. In addition, some store leases also have provisions for additional rent based on a percentage of sales ("percentage rent") and others include rental payments adjusted periodically for inflation. The Company's lease agreements do not contain any material residual guarantees or material restrictive covenants. The Company does not have any financing leases.

In November 2017, the Company entered into a sale-leaseback transaction on one of its previously owned stores. The Company received net cash proceeds of $16.0 million, recognized a gain on sale of $6.3 million, and deferred the residual $7.5 million gain over the remaining ten-year lease term. As of February 3, 2019, the effective date of the adoption of ASC 842, the Company wrote-off the remaining $6.5 million deferred gain on the sale-leaseback transaction that met the sale definition under ASC 842 to beginning retained earnings.

The Company leases nine distribution centers/warehouses. All of these contain renewal provisions, except for the third-party warehouse in Fort Mill, South Carolina. The following table summarizes the location and expiration date of the Company's leased warehouses:


Location			Lease Expiration Date
Leased Distribution Centers/Warehouses
Moreno Valley, California¹			2023
Moreno Valley, California¹			2029
Shafter, California			2029
Shafter, California¹			2020
Carlisle, Pennsylvania			2022
Carlisle, Pennsylvania			2021
Fort Mill, South Carolina			2024
Fort Mill, South Carolina¹			2020
Rock Hill, South Carolina			2028

¹ Operated by a third party.

The Company leases approximately 103,000 and 5,000 square feet of office space for its Los Angeles and Boston buying offices, respectively. The lease term for both of these facilities expire in 2022, and contain renewal provisions. In addition, the Company has a ground lease related to its New York buying office.

The following table presents net operating lease costs included in the Consolidated Statement of Earnings for fiscal 2019:


($000)	2019
Operating lease cost¹	$	639,545
Variable lease costs²	174,438
Net lease cost³	$	813,983

¹ Net of sublease income which was immaterial.
² Includes property and rent taxes, insurance, common area maintenance, and percentage rent.
³ Excludes short-term lease costs which were immaterial.

The maturity of operating lease liabilities, including the ground lease related to the New York buying office as of February 1, 2020, are as follows:


($000)	Operating Leases¹
2020	$	607,490
2021	633,846
2022	557,484
2023	469,211
2024	359,101
Thereafter	1,613,176
Total lease payments	$	4,240,308
Less: interest	1,065,299
Present value of lease liabilities	$	3,175,009
Less: current operating lease liabilities	564,481
Non-current operating lease liabilities	$	2,610,528

¹ Operating leases exclude $266.8 million of minimum lease payments for leases signed that have not yet commenced.

At February 1, 2020, the weighted-average remaining lease term and the weighted-average discount rate for operating leases is 10.7 years and 3.5%, respectively. The weighted-average remaining lease term and the weighted-average discount rate, excluding the long-term ground lease related to the New York buying office, were 6.1 years and 3.1%, respectively.

Cash paid for amounts included in the measurement of operating lease liabilities was $608.6 million for fiscal 2019 and is included in Net cash provided by operating activities in the Consolidated Statements of Cash Flows.

Operating lease assets obtained in exchange for new operating lease liabilities (includes new leases and remeasurements or modifications of existing leases) during fiscal 2019 was $739.3 million.



($000)	Total operating leases
2020	$	555,812
2021	580,712
2022	499,678
2023	424,695
2024	339,340
Thereafter	1,575,673
Total minimum lease payments	$	3,975,910

Rent expense under ASC 840, including contingent rent and net of sublease income, was $569.8 million and $532.4 million in fiscal 2018 and 2017, respectively. Contingent rent and sublease income was not significant in any year.

Debt (Schedule of Maturities of Long-term Debt) (Details) $ in Thousands	Feb. 01, 2020 USD ($)
Debt Disclosure [Abstract]
2020	$ 0
2021	65,000
2022	0
2023	0
2024	250,000
Thereafter	$ 0