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Financial Instruments (Tables)

6 Months Ended

Jul. 28, 2012

Derivative Financial Instruments, Related Fair Value and Balance Sheet Classification

The following is a summary of TJX’s derivative financial instruments, related fair value and balance sheet classification at July 28, 2012:

In thousands		Pay						Receive				Blended Contract Rate				Balance Sheet Location				Current Asset US$				Current (Liability) US$				Net Fair Value in US$ at July 28, 2012
Fair value hedges:
Intercompany balances, primarily short-term debt and related interest
		£			40,000			C$	63,330				1.5833				(Accrued Exp	)		$	—			$	(167	)			(167	)
		zł			91,500			C$	27,247				0.2978				Prepaid Exp / (Accrued Exp)				344				(178	)			166
		€			25,000			£	21,335				0.8534				Prepaid Exp				2,722				—				2,722
		€			102,002			US$	136,656				1.3397				Prepaid Exp				10,746				—				10,746
		US$			85,389			£	55,000				0.6441				Prepaid Exp				1,191				—				1,191
Economic hedges for which hedge accounting was not elected:
Diesel contracts					Fixed on 430K – 1.7M gal per month				Float on 430K –1.7M gal per month				N/A				(Accrued Exp	)			—				(4	)			(4	)
Merchandise purchase commitments
		C$			277,963			US$	277,245				0.9974				Prepaid Exp / (Accrued Exp)				2,053				(1,559	)			494
		C$			6,425			€	5,050				0.7860				Prepaid Exp / (Accrued Exp)				3				(179	)			(176	)
		£			81,860			US$	129,500				1.5820				Prepaid Exp / (Accrued Exp)				1,129				(553	)			576
		£			31,094			€	38,000				1.2221				Prepaid Exp / (Accrued Exp)				220				(2,367	)			(2,147	)
		US$			15,197			€	12,166				0.8006				Prepaid Exp / (Accrued Exp)				67				(264	)			(197	)
Total fair value of financial instruments																				$	18,475			$	(5,271	)		$	13,204

The following is a summary of TJX’s derivative financial instruments, related fair value and balance sheet classification at July 30, 2011:

In thousands		Pay				Receive				Blended Contract Rate				Balance Sheet Location				Current Asset US$				Current (Liability) US$				Net Fair Value in US$ at July 30, 2011
Fair value hedges:
Intercompany balances, primarily short-term debt and related interest
		£	70,000			C$	110,336				1.5762				Prepaid Exp			$	324			$	—			$	324
		€	25,000			£	21,265				0.8506				(Accrued Exp	)			—				(1,006	)			(1,006	)
		€	75,292			US$	101,227				1.3445				Prepaid Exp / (Accrued Exp)				8				(6,856	)			(6,848	)
		US$	85,894			£	55,000				0.6403				Prepaid Exp				4,290				—				4,290
Economic hedges for which hedge accounting was not elected:
Diesel contracts			Fixed on 11.4M gal per month				Float on 11.4M gal per month				N/A				Prepaid Exp				1,750				—				1,750
Merchandise purchase commitments
		C$	441,733			US$	452,345				1.0240				Prepaid Exp / (Accrued Exp)				610				(9,637	)			(9,027	)
		C$	9,163			€	6,700				0.7312				Prepaid Exp / (Accrued Exp)				64				(14	)			50
		£	45,905			US$	75,000				1.6338				Prepaid Exp / (Accrued Exp)				126				(515	)			(389	)
		£	39,582			€	44,700				1.1293				(Accrued Exp)				—				(709	)			(709	)
		US$	4,185			€	2,916				0.6968				Prepaid Exp / (Accrued Exp)				32				(24	)			8
Total fair value of financial instruments																		$	7,204			$	(18,761	)		$	(11,557	)

Impact Of Derivative Financial Instruments on Statements Of Income

The impact of derivative financial instruments on the statements of income during the second quarter of fiscal 2013 and fiscal 2012 are as follows:

		Location of Gain (Loss)		Amount of Gain (Loss)  Recognized in Income by Derivative
		Recognized in Income by		Thirteen Weeks Ended
In thousands		Derivative		July 28, 2012				July 30, 2011
Fair value hedges:
Intercompany balances, primarily short-term debt and related interest		Selling, general and administrative expenses		$	9,613			$	2,194
Economic hedges for which hedge accounting was not elected:
Diesel fuel contracts		Cost of sales, including buying and occupancy costs			(3,220	)			(259	)
Merchandise purchase commitments		Cost of sales, including buying and occupancy costs			5,325				12,351
Gain (loss) recognized in income				$	11,718			$	14,286

The impact of derivative financial instruments on the statements of income during the first six months of fiscal 2013 and fiscal 2012 are as follows:

		Location of Gain (Loss)		Amount of Gain (Loss)  Recognized in Income by Derivative
		Recognized in Income by		Twenty-Six Weeks Ended
In thousands		Derivative		July 28, 2012				July 30, 2011
Fair value hedges:
Intercompany balances, primarily short-term debt and related interest		Selling, general and administrative expenses		$	13,265			$	(975	)
Economic hedges for which hedge accounting was not elected:
Diesel fuel contracts		Cost of sales, including buying and occupancy costs			(1,703	)			1,003
Merchandise purchase commitments		Cost of sales, including buying and occupancy costs			(2,531	)			(7,892	)
Gain (loss) recognized in income				$	9,031			$	(7,864	)

X

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4A

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5618551-113959



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 205G

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 44C

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4C

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959

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X

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 205G

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4B

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959



Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 44C

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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