Ross Stores (ROST) 10-Q6 Dec 222022 Q3 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Oct. 29, 2022	Nov. 11, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 29, 2022
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, Address Line One	5130 Hacienda Drive,
Entity Address, City or Town	Dublin,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94568-7579
City Area Code	(925)
Local Phone Number	965-4400
Title of 12(b) Security	Common stock,
Trading Symbol	ROST
Security Exchange Name	NASDAQ
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 Common Stock, Shares Outstanding (in shares)		344,371,009
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000745732
Current Fiscal Year End Date	--01-28

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2022 USD ($) number_of_store $ / shares shares	Oct. 30, 2021 USD ($) number_of_store $ / shares shares	Oct. 29, 2022 USD ($) number_of_store $ / shares shares	Oct. 30, 2021 USD ($) number_of_store $ / shares shares
Income Statement [Abstract]
Sales	$ 4,565,489	$ 4,574,541	$ 13,481,598	$ 13,895,595
Costs and Expenses
Cost of goods sold	3,424,046	3,326,004	10,020,027	9,935,271
Selling, general and administrative	693,367	725,761	2,029,926	2,118,602
Interest (income) expense, net	(2,802)	18,744	25,561	56,500
Total costs and expenses	4,114,611	4,070,509	12,075,514	12,110,373
Earnings before taxes	450,878	504,032	1,406,084	1,785,222
Provision for taxes on earnings	108,842	119,002	341,086	429,455
Net earnings	$ 342,036	$ 385,030	$ 1,064,998	$ 1,355,767
Earnings per share
Basic (in dollars per share) \| $ / shares	$ 1	$ 1.10	$ 3.09	$ 3.85
Diluted (in dollars per share) \| $ / shares	$ 1	$ 1.09	$ 3.08	$ 3.82
Weighted-average shares outstanding (000)
Basic (in shares) \| shares	342,120	351,071	344,686	352,308
Diluted (in shares) \| shares	343,720	353,081	346,212	354,477
Store count at end of period (in number of stores) \| number_of_store	2,019	1,924	2,019	1,924

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 342,036	$ 385,030	$ 1,064,998	$ 1,355,767
Other comprehensive income	0	0	0	0
Comprehensive income	$ 342,036	$ 385,030	$ 1,064,998	$ 1,355,767

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 29, 2022	Jan. 29, 2022	Oct. 30, 2021
Current Assets
Cash and cash equivalents	$ 3,906,490	$ 4,922,365	$ 5,259,595
Accounts receivable	168,483	119,247	158,765
Merchandise inventory	2,494,002	2,262,273	2,231,242
Prepaid expenses and other	192,214	169,291	195,309
Total current assets	6,761,189	7,473,176	7,844,911
Property and Equipment
Land and buildings	1,491,927	1,240,246	1,194,125
Fixtures and equipment	3,882,127	3,425,762	3,357,986
Leasehold improvements	1,402,653	1,332,687	1,317,979
Construction-in-progress	171,185	574,333	506,903
Property and equipment, gross	6,947,892	6,573,028	6,376,993
Less accumulated depreciation and amortization	3,939,154	3,674,501	3,592,707
Property and equipment, net	3,008,738	2,898,527	2,784,286
Operating lease assets	3,101,882	3,027,272	3,032,175
Other long-term assets	228,286	241,281	254,362
Total assets	13,100,095	13,640,256	13,915,734
Current Liabilities
Accounts payable	1,927,757	2,372,302	2,652,881
Accrued expenses and other	616,753	613,089	625,426
Current operating lease liabilities	656,837	630,517	620,675
Accrued payroll and benefits	251,479	588,772	512,336
Income taxes payable	11,404	10,249	0
Current portion of long-term debt	0	0	64,991
Total current liabilities	3,464,230	4,214,929	4,476,309
Long-term debt	2,455,460	2,452,325	2,451,283
Non-current operating lease liabilities	2,596,221	2,539,297	2,551,162
Other long-term liabilities	223,162	236,013	296,819
Deferred income taxes	214,022	137,642	156,944
Commitments and contingencies
Stockholders’ Equity
Common stock, par value $.01 per share Authorized 1,000,000,000 shares Issued and outstanding 344,808,000, 351,720,000 and 353,694,000 shares, respectively	3,448	3,517	3,537
Additional paid-in capital	1,793,265	1,717,530	1,681,802
Treasury stock	(581,267)	(535,895)	(535,642)
Retained earnings	2,931,554	2,874,898	2,833,520
Total stockholders’ equity	4,147,000	4,060,050	3,983,217
Total liabilities and stockholders’ equity	$ 13,100,095	$ 13,640,256	$ 13,915,734

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Oct. 29, 2022	Jan. 29, 2022	Oct. 30, 2021
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	344,808,000	351,720,000	353,694,000
Common stock, shares outstanding (in shares)	344,808,000	351,720,000	353,694,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common stock	Additional paid-in capital	Treasury stock	Retained earnings
Beginning balance (in shares) at Jan. 30, 2021		356,503
Beginning balance at Jan. 30, 2021	$ 3,290,640	$ 3,565	$ 1,579,824	$ (478,550)	$ 2,185,801
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	476,479				476,479
Common stock issued under stock plans, net of shares used for tax withholding (in shares)		614
Common stock issued under stock plans, net of shares used for tax withholding	(41,315)	$ 6	6,057	(47,378)
Stock-based compensation	28,674		28,674
Dividends declared	(101,657)				(101,657)
Ending balance (in shares) at May. 01, 2021		357,117
Ending balance at May. 01, 2021	3,652,821	$ 3,571	1,614,555	(525,928)	2,560,623
Beginning balance (in shares) at Jan. 30, 2021		356,503
Beginning balance at Jan. 30, 2021	3,290,640	$ 3,565	1,579,824	(478,550)	2,185,801
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	$ 1,355,767
Common stock repurchased (in shares)	(3,500)
Ending balance (in shares) at Oct. 30, 2021	353,694	353,694
Ending balance at Oct. 30, 2021	$ 3,983,217	$ 3,537	1,681,802	(535,642)	2,833,520
Beginning balance (in shares) at May. 01, 2021		357,117
Beginning balance at May. 01, 2021	3,652,821	$ 3,571	1,614,555	(525,928)	2,560,623
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	494,258				494,258
Common stock issued under stock plans, net of shares used for tax withholding (in shares)		30
Common stock issued under stock plans, net of shares used for tax withholding	4,834		6,471	(1,637)
Stock-based compensation	29,584		29,584
Common stock repurchased (in shares)		(1,449)
Common stock repurchased	(175,784)	$ (14)	(5,492)		(170,278)
Dividends declared	(101,727)				(101,727)
Ending balance (in shares) at Jul. 31, 2021		355,698
Ending balance at Jul. 31, 2021	3,903,986	$ 3,557	1,645,118	(527,565)	2,782,876
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	385,030				385,030
Common stock issued under stock plans, net of shares used for tax withholding (in shares)		97
Common stock issued under stock plans, net of shares used for tax withholding	(1,985)	$ 1	6,091	(8,077)
Stock-based compensation	38,517		38,517
Common stock repurchased (in shares)		(2,101)
Common stock repurchased	(241,195)	$ (21)	(7,924)		(233,250)
Dividends declared	$ (101,136)				(101,136)
Ending balance (in shares) at Oct. 30, 2021	353,694	353,694
Ending balance at Oct. 30, 2021	$ 3,983,217	$ 3,537	1,681,802	(535,642)	2,833,520
Beginning balance (in shares) at Jan. 29, 2022	351,720	351,720
Beginning balance at Jan. 29, 2022	$ 4,060,050	$ 3,517	1,717,530	(535,895)	2,874,898
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	338,445				338,445
Common stock issued under stock plans, net of shares used for tax withholding (in shares)		1,131
Common stock issued under stock plans, net of shares used for tax withholding	(32,196)	$ 11	5,906	(38,113)
Stock-based compensation	36,071		36,071
Common stock repurchased (in shares)		(2,524)
Common stock repurchased	(239,565)	$ (25)	(10,266)		(229,274)
Dividends declared	(108,908)				(108,908)
Ending balance (in shares) at Apr. 30, 2022		350,327
Ending balance at Apr. 30, 2022	$ 4,053,897	$ 3,503	1,749,241	(574,008)	2,875,161
Beginning balance (in shares) at Jan. 29, 2022	351,720	351,720
Beginning balance at Jan. 29, 2022	$ 4,060,050	$ 3,517	1,717,530	(535,895)	2,874,898
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	$ 1,064,998
Common stock repurchased (in shares)	(8,200)
Ending balance (in shares) at Oct. 29, 2022	344,808	344,808
Ending balance at Oct. 29, 2022	$ 4,147,000	$ 3,448	1,793,265	(581,267)	2,931,554
Beginning balance (in shares) at Apr. 30, 2022		350,327
Beginning balance at Apr. 30, 2022	4,053,897	$ 3,503	1,749,241	(574,008)	2,875,161
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	384,517				384,517
Common stock issued under stock plans, net of shares used for tax withholding (in shares)		153
Common stock issued under stock plans, net of shares used for tax withholding	5,454	$ 1	5,974	(521)
Stock-based compensation	26,803		26,803
Common stock repurchased (in shares)		(2,928)
Common stock repurchased	(235,435)	$ (29)	(12,594)		(222,812)
Dividends declared	(108,285)				(108,285)
Ending balance (in shares) at Jul. 30, 2022		347,552
Ending balance at Jul. 30, 2022	4,126,951	$ 3,475	1,769,424	(574,529)	2,928,581
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	342,036				342,036
Common stock issued under stock plans, net of shares used for tax withholding (in shares)		47
Common stock issued under stock plans, net of shares used for tax withholding	(332)	$ 1	6,405	(6,738)
Stock-based compensation	29,493		29,493
Common stock repurchased (in shares)		(2,791)
Common stock repurchased	(243,693)	$ (28)	(12,057)		(231,608)
Dividends declared	$ (107,455)				(107,455)
Ending balance (in shares) at Oct. 29, 2022	344,808	344,808
Ending balance at Oct. 29, 2022	$ 4,147,000	$ 3,448	$ 1,793,265	$ (581,267)	$ 2,931,554

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	1 Months Ended							3 Months Ended
	Aug. 31, 2022	May 31, 2022	Mar. 31, 2022	Nov. 30, 2021	Aug. 31, 2021	May 31, 2021	Mar. 31, 2021	Oct. 29, 2022	Jul. 30, 2022	Apr. 30, 2022	Oct. 30, 2021	Jul. 31, 2021	May 01, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 0.310	$ 0.310	$ 0.310	$ 0.285	$ 0.285	$ 0.285	$ 0.285	$ 0.310	$ 0.310	$ 0.310	$ 0.285	$ 0.285	$ 0.285

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021
Cash Flows From Operating Activities
Net earnings	$ 1,064,998	$ 1,355,767
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	290,565	262,139
Stock-based compensation	92,367	96,775
Deferred income taxes	76,380	35,077
Change in assets and liabilities:
Merchandise inventory	(231,729)	(722,260)
Other current assets	(72,079)	(50,139)
Accounts payable	(452,968)	422,277
Other current liabilities	(308,202)	160,984
Income taxes	3,397	(60,442)
Operating lease assets and liabilities, net	8,634	4,767
Other long-term, net	1,304	(1,292)
Net cash provided by operating activities	472,667	1,503,653
Cash Flows From Investing Activities
Additions to property and equipment	(417,901)	(377,916)
Net cash used in investing activities	(417,901)	(377,916)
Cash Flows From Financing Activities
Issuance of common stock related to stock plans	18,298	18,626
Treasury stock purchased	(45,372)	(57,092)
Repurchase of common stock	(718,693)	(416,979)
Dividends paid	(324,648)	(304,520)
Net cash used in financing activities	(1,070,415)	(759,965)
Net (decrease) increase in cash, cash equivalents, and restricted cash and cash equivalents	(1,015,649)	365,772
Cash, cash equivalents, and restricted cash and cash equivalents:
Beginning of period	4,982,382	4,953,769
End of period	3,966,733	5,319,541
Supplemental Cash Flow Disclosures
Interest paid	80,316	82,209
Income taxes paid	$ 261,309	$ 454,821

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Oct. 29, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of presentation. The accompanying unaudited interim condensed consolidated financial statements have been prepared from the records of Ross Stores, Inc. and subsidiaries (the “Company”) without audit and, in the opinion of management, include all adjustments (consisting of only normal, recurring adjustments) necessary to present fairly the Company’s financial position as of October 29, 2022 and October 30, 2021, the results of operations, comprehensive income, and stockholders’ equity for the three and nine month periods ended October 29, 2022 and October 30, 2021, and cash flows for the nine month periods ended October 29, 2022 and October 30, 2021. The Condensed Consolidated Balance Sheet as of January 29, 2022, presented herein, has been derived from the Company’s audited consolidated financial statements for the fiscal year then ended. Certain information and disclosures normally included in the notes to annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted for purposes of these interim condensed consolidated financial statements. The interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements, including notes thereto, contained in the Company’s Annual Report on Form 10-K for the year ended January 29, 2022. The results of operations, comprehensive income, and stockholders’ equity for the three and nine month periods ended October 29, 2022 and October 30, 2021 , and cash flows for the nine month periods ended October 29, 2022 and October 30, 2021 pr esented herein are not necessarily indicative of the results to be expected for the full fiscal year. Use of accounting estimates. The preparation of financial statements in conformity with 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 condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company’s significant accounting estimates include valuation reserves for inventory, packaway and other inventory carrying costs, useful lives of fixed assets, insurance reserves, reserves for uncertain tax positions, and legal claims. The uncertainties and potential impacts from inflation, the Russia-Ukraine conflict, and the ongoing COVID-19 pandemic increase the challenge of making these estimates; actual results could differ materially from the Company’s estimates. Revenue recognition. The following sales mix table disaggregates revenue by merchandise category for the three and nine month periods ended October 29, 2022 and October 30, 2021: Three Months Ended Nine Months Ended October 29, 2022 October 30, 2021 October 29, 2022 October 30, 2021 Ladies 25 % 26 % 25 % 26 % Home Accents and Bed and Bath 25 % 25 % 25 % 25 % Men’s 15 % 15 % 15 % 14 % Accessories, Lingerie, Fine Jewelry, and Cosmetics 13 % 13 % 13 % 14 % Shoes 13 % 11 % 13 % 12 % Children’s 9 % 10 % 9 % 9 % Total 100 % 100 % 100 % 100 % 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. 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 obligations. The following table provides a reconciliation of cash, cash equivalents, and restricted cash and cash equivalents in the Condensed Consolidated Balance Sheets that reconcile to the amounts shown on the Condensed Consolidated Statements of Cash Flows: ($000) October 29, 2022 January 29, 2022 October 30, 2021 Cash and cash equivalents $ 3,906,490 $ 4,922,365 $ 5,259,595 Restricted cash and cash equivalents included in: Prepaid expenses and other 11,446 11,403 10,790 Other long-term assets 48,797 48,614 49,156 Total restricted cash and cash equivalents 60,243 60,017 59,946 Total cash, cash equivalents, and restricted cash and cash equivalents $ 3,966,733 $ 4,982,382 $ 5,319,541 Property and equipment. As of October 29, 2022 and October 30, 2021, the Company had $30.2 million and $14.4 million, respectively, of property and equipment purchased but not yet paid. These purchases are included in Property and equipment, Accounts payable, and Accrued expenses and other in the accompanying Condensed Consolidated Balance Sheets. Operating leases. Supplemental cash flow disclosures related to operating lease assets obtained in exchange for operating lease liabilities (includes new leases and remeasurements or modifications of existing leases ) were as follows: Three Months Ended Nine Months Ended ($000) October 29, 2022 October 30, 2021 October 29, 2022 October 30, 2021 Operating lease assets obtained in exchange for operating lease liabilities $ 235,186 $ 208,767 $ 549,267 $ 395,428 Cash dividends. The Company’s Board of Directors declared a cash dividend of $0.310 per common share in March, May, and August 2022, and $0.285 per common share in March, May, August, and November 2021. On November 16, 2022, the Company’s Board of Directors declared a quarterly cash dividend of $0.310 per common share, payable on December 30, 2022. Stock repurchase program. In March 2022, the Company's Board of Directors approved a new two-year program to repurchase up to $1.9 billion of the Company's common stock through fiscal 2023. This new program replaced the previous $1.5 billion stock repurchase program, effective at the end of fiscal 2021 (at which time the Company had repurchased $650 million of stock under the $1.5 billion program). The Company repurchased 8.2 million shares of common stock for $718.7 million during the nine month period ended October 29, 2022. The Company repurchased 3.5 million shares of common stock for $417.0 million during the nine month period ended October 30, 2021. 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/employment laws and consumer protection laws. Class/representative action litigation remains pending as of October 29, 2022. 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. Recently issued accounting standards. In September 2022, the FASB issued Accounting Standards Update (ASU) 2022-04, Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations , to enhance transparency about an entity's use of supplier finance programs. The ASU requires enhanced and additional disclosures about the key terms of supplier finance programs including a description of where in the financial statements any related amounts are presented. The initial guidance in the ASU will be effective for the Company for interim and annual reporting periods beginning after December 15, 2022, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its disclosures in the consolidated financial statements. In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance, to increase the transparency of the effects of government assistance, including disclosure of the types of assistance an entity receives, an entity’s method of accounting for government assistance, and the effect of government assistance on an entity’s financial statements. The guidance in this ASU will be effective for the Company for its fiscal 2022 Form 10-K. The Company is currently evaluating the impact of this guidance on its disclosures in the consolidated financial statements.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Oct. 29, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements 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, 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. The fair value of the Company’s financial instruments are as follows: ($000) October 29, 2022 January 29, 2022 October 30, 2021 Cash and cash equivalents (Level 1) $ 3,906,490 $ 4,922,365 $ 5,259,595 Restricted cash and cash equivalents (Level 1) $ 60,243 $ 60,017 $ 59,946 The underlying assets in the Company’s non-qualified deferred compensation program as of October 29, 2022, January 29, 2022, and October 30, 2021 (included in Other long-term assets and in Other long-term liabilities) primarily consist of participant-directed money market, stock, and bond funds. The fair value measurement for funds with quoted market prices in active markets (Level 1) are as follows: ($000) October 29, 2022 January 29, 2022 October 30, 2021 Level 1 $ 148,849 $ 163,891 $ 178,966

Management Incentive Plan and S

Management Incentive Plan and Stock-Based Compensation	9 Months Ended
Management Incentive Plan and Stock-Based Compensation	Oct. 29, 2022
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Management Incentive Plan and Stock-Based Compensation	Management Incentive Plan and Stock-Based Compensation The Company has incentive compensation programs which provide cash incentive bonuses and performance share awards to key management and employees based on Company and individual performance. For fiscal 2022, the Compensation Committee of the Board of Directors established the performance measures for determining cash incentive bonuses and performance share awards based on profitability-based performance goals. For fiscal 2021, the Compensation Committee of the Board of Directors established the performance measures for determining cash incentive bonuses and performance share awards based on profitability-based performance goals and the attainment of specific management priorities related to business challenges from the COVID-19 pandemic, as measured and approved by the Compensation Committee. Stock-based compensation. For the three and nine month periods ended October 29, 2022 and October 30, 2021, the Company recognized stock-based compensation expense as follows: Three Months Ended Nine Months Ended ($000) October 29, 2022 October 30, 2021 October 29, 2022 October 30, 2021 Restricted stock $ 22,177 $ 18,841 $ 63,337 $ 53,487 Performance awards 6,186 18,601 25,800 40,000 Employee stock purchase plan 1,130 1,075 3,230 3,288 Total $ 29,493 $ 38,517 $ 92,367 $ 96,775 Total stock-based compensation expense recognized in the Company’s Condensed Consolidated Statements of Earnings for the three and nine month periods ended October 29, 2022 and October 30, 2021, is as follows: Three Months Ended Nine Months Ended Statements of Earnings Classification ($000) October 29, 2022 October 30, 2021 October 29, 2022 October 30, 2021 Cost of goods sold $ 16,547 $ 18,594 $ 50,768 $ 48,354 Selling, general and administrative 12,946 19,923 41,599 48,421 Total $ 29,493 $ 38,517 $ 92,367 $ 96,775 The tax benefits related to stock-based compensation expense for the three and nine month periods ended October 29, 2022 we re $6.1 million an d $18.9 million, respectively. The tax benefits related to stock-based compensation expense for the three and nine month periods ended October 30, 2021 were $8.4 million and $19.4 million, respectively. Restricted stock awards. The Company grants shares of restricted stock or restricted stock units to directors, officers, and key employees. The market value of shares of restricted stock and restricted stock units at the date of grant is amortized to expense over the vesting period of generally three During the three and nine month periods ended October 29, 2022 and October 30, 2021, shares purchased by the Company for tax withholding totaled 74,844 and 490,060, and 70,488 and 471,081, respectively, and are considered treasury shares which are available for reissuance. 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 performance goals during the performance period, which is the Company’s fiscal year. If attained, the restricted stock then vests over a service period, generally two As of October 29, 2022, shares related to unvested restricted stock, restricted stock units, and performance share awards totaled 4.5 million shares. A summary of restricted stock, restricted stock units, and performance share award activity for the nine month period ended October 29, 2022, is presented below: (000, except per share data) Number of Weighted-average Unvested at January 29, 2022 4,378 $ 99.58 Awarded 1,504 88.98 Released (1,266) 90.38 Forfeited (101) 101.39 Unvested at October 29, 2022 4,515 $ 98.44 The unamortized compensation expense at October 29, 2022 was $213.6 million, which is expected to be recognized over a weighted-average remaining period of 2.0 years. The unamortized compensation expense at October 30, 2021, was $193.8 million, which was expected to be recognized over a weighted-average remaining period of 2.1 years. 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.

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Oct. 29, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The Company computes and reports both basic earnings per share (“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, except in cases where the effect of the common stock equivalents would be anti-dilutive. Diluted EPS reflects the total potential dilution that could occur from outstanding equity plan awards and unvested shares of both performance and non-performance based awards of restricted stock and restricted stock units. For the three and nine month periods ended October 29, 2022, approximately 85,000 and 492,000 weighted-average shares were excluded from the calculation of diluted EPS, respectively, because their effect would have been anti-dilutive for the periods presented. For the three and nine month periods ended October 30, 2021, approximately 13,200 and 3,000 weighted-average shares were excluded from the calculation of diluted EPS, respectively, because their effect would have been anti-dilutive for the periods presented. The following is a reconciliation of the number of shares (denominator) used in the basic and diluted EPS computations: Three Months Ended Nine Months Ended Shares in (000s) Basic EPS Effect of Diluted Basic EPS Effect of Diluted October 29, 2022 Shares 342,120 1,600 343,720 344,686 1,526 346,212 Amount $ 1.00 $ — $ 1.00 $ 3.09 $ (0.01) $ 3.08 October 30, 2021 Shares 351,071 2,010 353,081 352,308 2,169 354,477 Amount $ 1.10 $ (0.01) $ 1.09 $ 3.85 $ (0.03) $ 3.82

Debt

Debt	9 Months Ended
Debt	Oct. 29, 2022
Debt Disclosure [Abstract]
Debt	Debt Long-term debt. Unsecured senior debt, net of unamortized discounts and debt issuance costs, consisted of the following: ($000) October 29, 2022 January 29, 2022 October 30, 2021 6.530% Series B Senior Notes due 2021 $ — $ — $ 64,991 3.375% Senior Notes due 2024 249,144 248,808 248,697 4.600% Senior Notes due 2025 696,841 695,888 695,571 0.875% Senior Notes due 2026 495,732 494,814 494,508 4.700% Senior Notes due 2027 239,791 239,470 239,364 4.800% Senior Notes due 2030 132,559 132,431 132,388 1.875% Senior Notes due 2031 495,113 494,691 494,551 5.450% Senior Notes due 2050 146,280 146,223 146,204 Total long-term debt $ 2,455,460 $ 2,452,325 $ 2,516,274 Less: current portion — — 64,991 Total due beyond one year $ 2,455,460 $ 2,452,325 $ 2,451,283 As of October 29, 2022, January 29, 2022, and October 30, 2021, total unamortized discount and debt issuance costs were $19.5 million , $22.7 million, and $23.7 million, respectively, and were classified as a reduction of Long-term debt. As of October 29, 2022 and January 29, 2022 the aggregate fair value of the seven outstanding series of Senior Notes was approximately $2.2 billion and $2.6 billion, respectively. As of October 30, 2021 the aggregate fair value of the then eight outstanding series of Senior Notes was approximately $2.6 billion. 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. See Note D: Debt, in the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 29, 2022, for additional information regarding the terms of the Company’s unsecured senior notes. Revolving credit facilities. In February 2022, the Company entered into a new, $1.3 billion senior unsecured revolving Credit Agreement (the “2022 Credit Facility”), which replaced its previous $800 million unsecured revolving credit facility. The 2022 Credit Facility expires in February 2027, and may be extended, at the Company's request and with the consent of the lenders, for up to two additional one year periods, subject to customary conditions. The new facility contains a $300 million sublimit for issuance of standby letters of credit. It also contains an option allowing the Company to increase the size of its credit facility by up to an additional $700 million, with the agreement of the committing lenders. The interest rate on borrowings under the 2022 Credit Facility is a term rate based on the Secured Overnight Financing Rate (“Term SOFR”) (or an alternate benchmark rate, if Term SOFR is no longer available) plus an applicable margin, and is payable quarterly and upon maturity. The 2022 Credit Facility is subject to a quarterly Consolidated Adjusted Debt to Consolidated EBITDAR financial leverage ratio covenant. As of October 29, 2022, the Company was in compliance with this financial covenant. As of October 29, 2022, the Company had no borrowings or standby letters of credit outstanding under the 2022 Credit Facility, and t he $1.3 billion credit facility remains in place and available. The table below shows the components of interest expense and income for the three and nine month periods ended October 29, 2022 and October 30, 2021: Three Months Ended Nine Months Ended ($000) October 29, 2022 October 30, 2021 October 29, 2022 October 30, 2021 Interest expense on long-term debt $ 21,150 $ 22,227 63,429 $ 66,626 Other interest expense 448 391 1,242 1,012 Capitalized interest (663) (3,682) (4,489) (10,511) Interest income (23,737) (192) (34,621) (627) Interest (income) expense, net $ (2,802) $ 18,744 $ 25,561 $ 56,500

Taxes on Earnings

Taxes on Earnings	9 Months Ended
Taxes on Earnings	Oct. 29, 2022
Income Tax Disclosure [Abstract]
Taxes on Earnings	Taxes on Earnings The Company’s effective tax rate for the three and nine month periods ended October 29, 2022 and October 30, 2021, was approximately 24%. The Company's effective tax rate is impacted by changes in tax law and accounting guidance, location of new stores, level of earnings, tax effects associated with stock-based compensation, and uncertain tax positions. As of October 29, 2022, January 29, 2022, and October 30, 2021, the reserves for unrecognized tax benefits were $70.7 million , $68.1 million , and $76.9 million , inclusive of $9.1 million , $7.6 million , and $9.8 million of related interest and penalties, respectively. The Company accounts for interest and penalties related to unrecognized tax benefits as a part of its provision for taxes on earnings. If recognized, $56.7 million would impact the Company’s effective tax rate. It is reasonably possible that certain state tax matters may be concluded or statutes of limitations may lapse during the next 12 months. Accordingly, the total amount of unrecognized tax benefits may decrease by up to $10.0 million. 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 income tax assets and liabilities. These amounts are net of federal and state income taxes.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Oct. 29, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation. The accompanying unaudited interim condensed consolidated financial statements have been prepared from the records of Ross Stores, Inc. and subsidiaries (the “Company”) without audit and, in the opinion of management, include all adjustments (consisting of only normal, recurring adjustments) necessary to present fairly the Company’s financial position as of October 29, 2022 and October 30, 2021, the results of operations, comprehensive income, and stockholders’ equity for the three and nine month periods ended October 29, 2022 and October 30, 2021, and cash flows for the nine month periods ended October 29, 2022 and October 30, 2021. The Condensed Consolidated Balance Sheet as of January 29, 2022, presented herein, has been derived from the Company’s audited consolidated financial statements for the fiscal year then ended. Certain information and disclosures normally included in the notes to annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted for purposes of these interim condensed consolidated financial statements. The interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements, including notes thereto, contained in the Company’s Annual Report on Form 10-K for the year ended January 29, 2022. The results of operations, comprehensive income, and stockholders’ equity for the three and nine month periods ended October 29, 2022 and October 30, 2021 , and cash flows for the nine month periods ended October 29, 2022 and October 30, 2021 pr esented herein are not necessarily indicative of the results to be expected for the full fiscal year.
Use of accounting estimates	Use of accounting estimates. The preparation of financial statements in conformity with 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 condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company’s significant accounting estimates include valuation reserves for inventory, packaway and other inventory carrying costs, useful lives of fixed assets, insurance reserves, reserves for uncertain tax positions, and legal claims. The uncertainties and potential impacts from inflation, the Russia-Ukraine conflict, and the ongoing COVID-19 pandemic increase the challenge of making these estimates; actual results could differ materially from the Company’s estimates.
Cash and cash equivalents and Restricted cash, cash equivalents, and investments	Cash and cash equivalents. Cash equivalents consist of highly liquid, fixed income instruments purchased with an original maturity of three months or less.
Property and equipment	Property and equipment. As of October 29, 2022 and October 30, 2021, the Company had $30.2 million and $14.4 million, respectively, of property and equipment purchased but not yet paid. These purchases are included in Property and equipment, Accounts payable, and Accrued expenses and other in the accompanying Condensed Consolidated Balance Sheets.
Recently issued accounting standards	Recently issued accounting standards. In September 2022, the FASB issued Accounting Standards Update (ASU) 2022-04, Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations , to enhance transparency about an entity's use of supplier finance programs. The ASU requires enhanced and additional disclosures about the key terms of supplier finance programs including a description of where in the financial statements any related amounts are presented. The initial guidance in the ASU will be effective for the Company for interim and annual reporting periods beginning after December 15, 2022, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its disclosures in the consolidated financial statements. In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance, to increase the transparency of the effects of government assistance, including disclosure of the types of assistance an entity receives, an entity’s method of accounting for government assistance, and the effect of government assistance on an entity’s financial statements. The guidance in this ASU will be effective for the Company for its fiscal 2022 Form 10-K. The Company is currently evaluating the impact of this guidance on its disclosures in the consolidated financial statements.
Fair Value Measurements	Fair Value MeasurementsAccounting 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, 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.
Earnings Per Share	Earnings Per ShareThe Company computes and reports both basic earnings per share (“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, except in cases where the effect of the common stock equivalents would be anti-dilutive. Diluted EPS reflects the total potential dilution that could occur from outstanding equity plan awards and unvested shares of both performance and non-performance based awards of restricted stock and restricted stock units.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
Summary of Significant Accounting Policies (Tables)	Oct. 29, 2022
Accounting Policies [Abstract]
Disaggregation of revenue	The following sales mix table disaggregates revenue by merchandise category for the three and nine month periods ended October 29, 2022 and October 30, 2021: Three Months Ended Nine Months Ended October 29, 2022 October 30, 2021 October 29, 2022 October 30, 2021 Ladies 25 % 26 % 25 % 26 % Home Accents and Bed and Bath 25 % 25 % 25 % 25 % Men’s 15 % 15 % 15 % 14 % Accessories, Lingerie, Fine Jewelry, and Cosmetics 13 % 13 % 13 % 14 % Shoes 13 % 11 % 13 % 12 % Children’s 9 % 10 % 9 % 9 % Total 100 % 100 % 100 % 100 %
Schedule of cash and cash equivalents reconciliation	The following table provides a reconciliation of cash, cash equivalents, and restricted cash and cash equivalents in the Condensed Consolidated Balance Sheets that reconcile to the amounts shown on the Condensed Consolidated Statements of Cash Flows: ($000) October 29, 2022 January 29, 2022 October 30, 2021 Cash and cash equivalents $ 3,906,490 $ 4,922,365 $ 5,259,595 Restricted cash and cash equivalents included in: Prepaid expenses and other 11,446 11,403 10,790 Other long-term assets 48,797 48,614 49,156 Total restricted cash and cash equivalents 60,243 60,017 59,946 Total cash, cash equivalents, and restricted cash and cash equivalents $ 3,966,733 $ 4,982,382 $ 5,319,541
Schedule of restricted cash reconciliation	The following table provides a reconciliation of cash, cash equivalents, and restricted cash and cash equivalents in the Condensed Consolidated Balance Sheets that reconcile to the amounts shown on the Condensed Consolidated Statements of Cash Flows: ($000) October 29, 2022 January 29, 2022 October 30, 2021 Cash and cash equivalents $ 3,906,490 $ 4,922,365 $ 5,259,595 Restricted cash and cash equivalents included in: Prepaid expenses and other 11,446 11,403 10,790 Other long-term assets 48,797 48,614 49,156 Total restricted cash and cash equivalents 60,243 60,017 59,946 Total cash, cash equivalents, and restricted cash and cash equivalents $ 3,966,733 $ 4,982,382 $ 5,319,541
Supplemental cash flow disclosures related to leases	Supplemental cash flow disclosures related to operating lease assets obtained in exchange for operating lease liabilities (includes new leases and remeasurements or modifications of existing leases ) were as follows: Three Months Ended Nine Months Ended ($000) October 29, 2022 October 30, 2021 October 29, 2022 October 30, 2021 Operating lease assets obtained in exchange for operating lease liabilities $ 235,186 $ 208,767 $ 549,267 $ 395,428

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Oct. 29, 2022
Fair Value Disclosures [Abstract]
Schedule of fair values of financial instruments	The fair value of the Company’s financial instruments are as follows: ($000) October 29, 2022 January 29, 2022 October 30, 2021 Cash and cash equivalents (Level 1) $ 3,906,490 $ 4,922,365 $ 5,259,595 Restricted cash and cash equivalents (Level 1) $ 60,243 $ 60,017 $ 59,946
Schedule of fair value of assets and liabilities	The fair value measurement for funds with quoted market prices in active markets (Level 1) are as follows: ($000) October 29, 2022 January 29, 2022 October 30, 2021 Level 1 $ 148,849 $ 163,891 $ 178,966

Management Incentive Plan and_2

Management Incentive Plan and Stock-Based Compensation (Tables)	9 Months Ended
	Oct. 29, 2022
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Schedule of stock-based compensation expense by award type	For the three and nine month periods ended October 29, 2022 and October 30, 2021, the Company recognized stock-based compensation expense as follows: Three Months Ended Nine Months Ended ($000) October 29, 2022 October 30, 2021 October 29, 2022 October 30, 2021 Restricted stock $ 22,177 $ 18,841 $ 63,337 $ 53,487 Performance awards 6,186 18,601 25,800 40,000 Employee stock purchase plan 1,130 1,075 3,230 3,288 Total $ 29,493 $ 38,517 $ 92,367 $ 96,775
Schedule of stock-based compensation recognized in Consolidated Statements of Operations	Total stock-based compensation expense recognized in the Company’s Condensed Consolidated Statements of Earnings for the three and nine month periods ended October 29, 2022 and October 30, 2021, is as follows: Three Months Ended Nine Months Ended Statements of Earnings Classification ($000) October 29, 2022 October 30, 2021 October 29, 2022 October 30, 2021 Cost of goods sold $ 16,547 $ 18,594 $ 50,768 $ 48,354 Selling, general and administrative 12,946 19,923 41,599 48,421 Total $ 29,493 $ 38,517 $ 92,367 $ 96,775
Schedule of restricted stock, restricted stock units, and performance share award activity	A summary of restricted stock, restricted stock units, and performance share award activity for the nine month period ended October 29, 2022, is presented below: (000, except per share data) Number of Weighted-average Unvested at January 29, 2022 4,378 $ 99.58 Awarded 1,504 88.98 Released (1,266) 90.38 Forfeited (101) 101.39 Unvested at October 29, 2022 4,515 $ 98.44

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Oct. 29, 2022
Earnings Per Share [Abstract]
Reconciliation of the number of shares (denominator) used in the basic and diluted EPS computations	The following is a reconciliation of the number of shares (denominator) used in the basic and diluted EPS computations: Three Months Ended Nine Months Ended Shares in (000s) Basic EPS Effect of Diluted Basic EPS Effect of Diluted October 29, 2022 Shares 342,120 1,600 343,720 344,686 1,526 346,212 Amount $ 1.00 $ — $ 1.00 $ 3.09 $ (0.01) $ 3.08 October 30, 2021 Shares 351,071 2,010 353,081 352,308 2,169 354,477 Amount $ 1.10 $ (0.01) $ 1.09 $ 3.85 $ (0.03) $ 3.82

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	Oct. 29, 2022
Debt Disclosure [Abstract]
Schedule of long-term debt	Unsecured senior debt, net of unamortized discounts and debt issuance costs, consisted of the following: ($000) October 29, 2022 January 29, 2022 October 30, 2021 6.530% Series B Senior Notes due 2021 $ — $ — $ 64,991 3.375% Senior Notes due 2024 249,144 248,808 248,697 4.600% Senior Notes due 2025 696,841 695,888 695,571 0.875% Senior Notes due 2026 495,732 494,814 494,508 4.700% Senior Notes due 2027 239,791 239,470 239,364 4.800% Senior Notes due 2030 132,559 132,431 132,388 1.875% Senior Notes due 2031 495,113 494,691 494,551 5.450% Senior Notes due 2050 146,280 146,223 146,204 Total long-term debt $ 2,455,460 $ 2,452,325 $ 2,516,274 Less: current portion — — 64,991 Total due beyond one year $ 2,455,460 $ 2,452,325 $ 2,451,283
Schedule of components of interest expense and income	The table below shows the components of interest expense and income for the three and nine month periods ended October 29, 2022 and October 30, 2021: Three Months Ended Nine Months Ended ($000) October 29, 2022 October 30, 2021 October 29, 2022 October 30, 2021 Interest expense on long-term debt $ 21,150 $ 22,227 63,429 $ 66,626 Other interest expense 448 391 1,242 1,012 Capitalized interest (663) (3,682) (4,489) (10,511) Interest income (23,737) (192) (34,621) (627) Interest (income) expense, net $ (2,802) $ 18,744 $ 25,561 $ 56,500

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Disaggregation of Revenue) (Details)	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Disaggregation of Revenue [Line Items]
Total	100%	100%	100%	100%
Ladies
Disaggregation of Revenue [Line Items]
Total	25%	26%	25%	26%
Home Accents and Bed and Bath
Disaggregation of Revenue [Line Items]
Total	25%	25%	25%	25%
Men’s
Disaggregation of Revenue [Line Items]
Total	15%	15%	15%	14%
Accessories, Lingerie, Fine Jewelry, and Cosmetics
Disaggregation of Revenue [Line Items]
Total	13%	13%	13%	14%
Shoes
Disaggregation of Revenue [Line Items]
Total	13%	11%	13%	12%
Children’s
Disaggregation of Revenue [Line Items]
Total	9%	10%	9%	9%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Cash, Cash Equivalents, Restricted Cash Reconciliation) (Details) - USD ($) $ in Thousands	Oct. 29, 2022	Jan. 29, 2022	Oct. 30, 2021	Jan. 30, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	$ 3,906,490	$ 4,922,365	$ 5,259,595
Restricted cash and cash equivalents included in:
Prepaid expenses and other	11,446	11,403	10,790
Other long-term assets	48,797	48,614	49,156
Total restricted cash and cash equivalents	60,243	60,017	59,946
Total cash, cash equivalents, and restricted cash and cash equivalents	$ 3,966,733	$ 4,982,382	$ 5,319,541	$ 4,953,769

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions

1 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

Nov. 16, 2022

Aug. 31, 2022

May 31, 2022

Mar. 31, 2022

Nov. 30, 2021

Aug. 31, 2021

May 31, 2021

Mar. 31, 2021

Oct. 29, 2022

Jul. 30, 2022

Apr. 30, 2022

Oct. 30, 2021

Jul. 31, 2021

May 01, 2021

Oct. 29, 2022

Oct. 30, 2021

Jan. 29, 2022

Summary of Significant Accounting Policies [Line Items]

Cash dividends declared per share (in dollars per share)

$ 0.310

$ 0.285

$ 0.310

$ 0.285

Stock repurchased program period

2 years

Stock repurchase program, amount authorized

$ 1,900,000,000

$ 1,500,000,000

Stock repurchased, amount

$ 650,000,000

Stock repurchased during period, shares (in shares)

8.2

3.5

Repurchase of common stock

$ 718,693,000

$ 416,979,000

Subsequent Event

Summary of Significant Accounting Policies [Line Items]

Cash dividends declared per share (in dollars per share)

$ 0.310

Property, Plant and Equipment

Summary of Significant Accounting Policies [Line Items]

Property and equipment purchased but not yet paid

$ 30,200,000

$ 14,400,000

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Leases) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Accounting Policies [Abstract]
Operating lease assets obtained in exchange for operating lease liabilities	$ 235,186	$ 208,767	$ 549,267	$ 395,428

Fair Value Measurements (Balanc

Fair Value Measurements (Balance Sheet Items) (Details) - Level 1 - USD ($) $ in Thousands	Oct. 29, 2022	Jan. 29, 2022	Oct. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents (Level 1)	$ 3,906,490	$ 4,922,365	$ 5,259,595
Restricted cash and cash equivalents (Level 1)	$ 60,243	$ 60,017	$ 59,946

Fair Value Measurements (Underl

Fair Value Measurements (Underlying Asset Value) (Details) - USD ($) $ in Thousands	Oct. 29, 2022	Jan. 29, 2022	Oct. 30, 2021
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 148,849	$ 163,891	$ 178,966

Management Incentive Plan and_3

Management Incentive Plan and Stock-Based Compensation (Recognized Stock-Based Compensation) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	$ 29,493	$ 38,517	$ 92,367	$ 96,775
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	22,177	18,841	63,337	53,487
Performance awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	6,186	18,601	25,800	40,000
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	$ 1,130	$ 1,075	$ 3,230	$ 3,288

Management Incentive Plan and_4

Management Incentive Plan and Stock-Based Compensation (Total Stock-Based Compensation Recognized in the Consolidated Statements of Earnings) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	$ 29,493	$ 38,517	$ 92,367	$ 96,775
Cost of goods sold
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	16,547	18,594	50,768	48,354
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	$ 12,946	$ 19,923	$ 41,599	$ 48,421

Management Incentive Plan and_5

Management Incentive Plan and Stock-Based Compensation (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021	Jan. 29, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit related to stock-based compensation	$ 6,100,000	$ 8,400,000	$ 18,900,000	$ 19,400,000
Plan participant's annual percentage ceiling for ESPP (up to, as a percentage)	10%		10%
Plan participant's annual dollar amount ceiling for ESPP			$ 25,000
Purchase price for shares under the ESPP (as a percentage)			85%
Discount rate under the ESPP (as a percentage)			15%
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury shares purchased for tax withholding and available for reissuance (in shares)	74,844	70,488	490,060	471,081
Restricted Stock, Restricted Stock Units, and Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested restricted stock and performance shares (in shares)	4,515,000		4,515,000		4,378,000
Unamortized compensation expense	$ 213,600,000	$ 193,800,000	$ 213,600,000	$ 193,800,000
Unamortized compensation expense, remaining weighted-average period of recognition			2 years	2 years 1 month 6 days
Minimum \| Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period			3 years
Minimum \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period			3 years
Minimum \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period			2 years
Maximum \| Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period			5 years
Maximum \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period			5 years
Maximum \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period			3 years

Management Incentive Plan and_6

Management Incentive Plan and Stock-Based Compensation (Unvested Restricted Stock, RSU, and Performance Shares Activity) (Details) - Restricted Stock, Restricted Stock Units, and Performance Shares shares in Thousands	9 Months Ended
	Oct. 29, 2022 $ / shares shares
Number of shares
Beginning balance (in shares) \| shares	4,378
Awarded (in shares) \| shares	1,504
Released (in shares) \| shares	(1,266)
Forfeited (in shares) \| shares	(101)
Ending balance (in shares) \| shares	4,515
Weighted-average grant date fair value
Beginning balance (in dollars per share) \| $ / shares	$ 99.58
Awarded (in dollars per share) \| $ / shares	88.98
Released (in dollars per share) \| $ / shares	90.38
Forfeited (in dollars per share) \| $ / shares	101.39
Ending balance (in dollars per share) \| $ / shares	$ 98.44

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares	3 Months Ended		9 Months Ended
Earnings Per Share (Narrative) (Details) - shares	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Earnings Per Share [Abstract]
Weighted average shares excluded from calculation of diluted EPS (in shares)	85,000	13,200	492,000	3,000

Earnings Per Share (Schedule of

Earnings Per Share (Schedule of Basic and Diluted EPS Computations) (Details) - $ / shares shares in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Earnings Per Share [Abstract]
Basic EPS, Shares (in shares)	342,120	351,071	344,686	352,308
Basic EPS , Amount (in dollars per share)	$ 1	$ 1.10	$ 3.09	$ 3.85
Effect of dilutive common stock equivalents, Shares (in shares)	1,600	2,010	1,526	2,169
Effect of dilutive common stock equivalents, Amount (in dollars per share)	$ 0	$ (0.01)	$ (0.01)	$ (0.03)
Diluted EPS, Shares (in shares)	343,720	353,081	346,212	354,477
Diluted EPS, Amount (in dollars per share)	$ 1	$ 1.09	$ 3.08	$ 3.82

Debt (Schedule of Short-Term an

Debt (Schedule of Short-Term and Long-Term Debt) (Details) - USD ($) $ in Thousands	Oct. 29, 2022	Jan. 29, 2022	Oct. 30, 2021
Debt Instrument [Line Items]
Total long-term debt	$ 2,455,460	$ 2,452,325	$ 2,516,274
Current portion of long-term debt	0	0	64,991
Total due beyond one year	2,455,460	2,452,325	2,451,283
6.530% Series B Senior Notes due 2021 \| 6.530% Series B Senior Notes due 2021
Debt Instrument [Line Items]
Total long-term debt	$ 0	0	64,991
Stated interest rate (percent)	6.53%
Senior Notes \| 3.375% Senior Notes due 2024
Debt Instrument [Line Items]
Total long-term debt	$ 249,144	248,808	248,697
Stated interest rate (percent)	3.375%
Senior Notes \| 4.600% Senior Notes due 2025
Debt Instrument [Line Items]
Total long-term debt	$ 696,841	695,888	695,571
Stated interest rate (percent)	4.60%
Senior Notes \| 0.875% Senior Notes due 2026
Debt Instrument [Line Items]
Total long-term debt	$ 495,732	494,814	494,508
Stated interest rate (percent)	0.875%
Senior Notes \| 4.700% Senior Notes due 2027
Debt Instrument [Line Items]
Total long-term debt	$ 239,791	239,470	239,364
Stated interest rate (percent)	4.70%
Senior Notes \| 4.800% Senior Notes due 2030
Debt Instrument [Line Items]
Total long-term debt	$ 132,559	132,431	132,388
Stated interest rate (percent)	4.80%
Senior Notes \| 1.875% Senior Notes due 2031
Debt Instrument [Line Items]
Total long-term debt	$ 495,113	494,691	494,551
Stated interest rate (percent)	1.875%
Senior Notes \| 5.450% Senior Notes due 2050
Debt Instrument [Line Items]
Total long-term debt	$ 146,280	$ 146,223	$ 146,204
Stated interest rate (percent)	5.45%

Debt (Narrative) (Details)

Debt (Narrative) (Details)	1 Months Ended
Debt (Narrative) (Details)	Feb. 28, 2022 USD ($) renewal_option	Oct. 29, 2022 USD ($) note	Jan. 31, 2022 USD ($)	Jan. 29, 2022 USD ($) note	Oct. 30, 2021 USD ($) note
Senior Notes
Debt Instrument [Line Items]
Total unamortized discount and debt issuance costs		$ 19,500,000		$ 22,700,000	$ 23,700,000
Number of series notes \| note		7		7	8
Senior Notes \| Level 1
Debt Instrument [Line Items]
Unsecured senior notes estimated fair value		$ 2,200,000,000		$ 2,600,000,000	$ 2,600,000,000
Senior Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1,300,000,000
Number of renewal options \| renewal_option	2
Renewal option, term	1 year
Option to increase credit facility, additional amount (up to)	$ 700,000,000
Senior Unsecured Revolving Credit Facility \| Standby Letters of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 300,000,000
$800 million revolving credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 800,000,000
Amount outstanding under the revolving credit facility		0
Standby Letters of Credit
Debt Instrument [Line Items]
Amount outstanding under the revolving credit facility		$ 0

Debt (Interest Expense, Net) (D

Debt (Interest Expense, Net) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Debt Disclosure [Abstract]
Interest expense on long-term debt	$ 21,150	$ 22,227	$ 63,429	$ 66,626
Other interest expense	448	391	1,242	1,012
Capitalized interest	(663)	(3,682)	(4,489)	(10,511)
Interest income	(23,737)	(192)	(34,621)	(627)
Interest (income) expense, net	$ (2,802)	$ 18,744	$ 25,561	$ 56,500

Taxes on Earnings (Narrative) (

Taxes on Earnings (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021	Jan. 29, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate (percent)	24%	24%	24%	24%
Unrecognized tax benefits	$ 70.7	$ 76.9	$ 70.7	$ 76.9	$ 68.1
Income tax penalties and interest accrued	9.1	$ 9.8	9.1	$ 9.8	$ 7.6
Impact of recognizing taxes and interest related to unrecognized tax benefits	56.7		56.7
Unrecognized tax benefits reduction resulting from conclusion of certain state tax matters or lapse of applicable statute of limitations (up to)	$ 10		$ 10