Quarterly report pursuant to Section 13 or 15(d)

INCOME TAXES (Tables)

v3.3.0.814
INCOME TAXES (Tables)
 9 Months Ended
Oct. 31, 2015
Income Tax Disclosure [Abstract]  
Schedule of Deferred Tax Assets and Liabilities
Significant components of the Company's net deferred tax assets (liabilities) follow:

(in millions)
October 31,
2015
 
January 31,
2015
Deferred tax assets:
 
 
 
Deferred rent
$
46.2

 
$
41.0

Accrued expenses
65.7

 
37.6

Net operating losses and credit carryforwards
51.0

 
31.0

Accrued compensation expense
60.5

 
33.8

Other
1.3

 
5.1

Total deferred tax assets
224.7

 
148.5

Valuation allowance
(22.1
)
 
(13.8
)
Deferred tax assets, net
202.6

 
134.7

Deferred tax liabilities:
 

 
 

Property and equipment
(290.4
)
 
(48.7
)
Other intangibles
(1,426.6
)
 
(18.7
)
Prepaid expenses
(3.6
)
 
(3.0
)
Inventory
(0.9
)
 
(5.4
)
Total deferred tax liabilities
(1,721.5
)
 
(75.8
)
Net deferred tax asset (liability)
$
(1,518.9
)
 
$
58.9

Reconciliation of Unrecognized Tax Benefits
The following is a reconciliation of the Company’s total gross unrecognized tax benefits:
 
October 31, 2015
 
January 31, 2015
Beginning Balance
$
6.5

 
$
5.5

   Additions, acquisition of Family Dollar
28.2

 
—

   Additions, based on tax positions related to current year
0.2

 
0.6

   Additions for tax positions of prior years
—

 
0.9

   Lapses in statutes of limitation
(1.0
)
 
(0.5
)
Ending balance
$
33.9

 
$
6.5