Question: Focusing on the third table in Note 23, Net Deferred Tax Asset/(Liability), calculate the change in net deferred tax asset/liability. To what extent did you

Focusing on the third table in Note 23, Net Deferred Tax Asset/(Liability), calculate the change in net deferred tax asset/liability. To what extent did you account for this change in the journal entry you prepared in the question above? What are some possible causes for any difference?

Net Deferred Tax Asset/(Liability)

(millions)

February 3, 2018

January 28, 2017

Gross deferred tax assets:

Accrued and deferred compensation

$

262

$

455

Accruals and reserves not currently deductible

256

328

Self-insured benefits

109

178

Prepaid store-in-store lease income

164

258

Other

42

62

Total gross deferred tax assets

833

1,281

Gross deferred tax liabilities:

Property and equipment

(1,292

)

(1,822

)

Inventory

(130

)

(182

)

Other

(91

)

(102

)

Total gross deferred tax liabilities

(1,513

)

(2,106

)

Total net deferred tax liability

$

(680

)

$

(825

)

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