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Segment Information
 12 Months Ended
Feb. 02, 2013
Segment Information

Note G.    Segment Information

TJX operates four reportable business segments. In the United States, TJX’s two segments are Marmaxx (T.J. Maxx and Marshalls stores) and HomeGoods. The TJX Canada segment operates stores in Canada (Winners, HomeSense and Marshalls), and the TJX Europe segment operates stores in Europe (T.K. Maxx and HomeSense). A.J. Wright ceased to be a segment following its consolidation. Sierra Trading Post is reported as part of the Marmaxx segment.

All of TJX’s stores, with the exception of HomeGoods and HomeSense, sell family apparel and home fashions. HomeGoods and HomeSense offer exclusively home fashions. For fiscal 2013, TJX Canada and TJX Europe accounted for 24% of TJX’s net sales, 18% of segment profit and 24% of consolidated assets. By merchandise category, approximately 59% of TJX’s sales were derived from clothing (including footwear), 28% from home fashions and 13% from jewelry and accessories in fiscal 2013.

TJX evaluates the performance of its segments based on “segment profit or loss,” which it defines as pre-tax income or loss before general corporate expense and interest expense. “Segment profit or loss,” as defined by TJX, may not be comparable to similarly titled measures used by other entities. The terms “segment margin” or “segment profit margin” are used to describe segment profit or loss as a percentage of net sales. These measures of performance should not be considered alternatives to net income or cash flows from operating activities as an indicator of TJX’s performance or as a measure of liquidity.

 

Presented below is financial information with respect to TJX’s business segments:

 

      Fiscal Year Ended  
In thousands   

February 2,

2013

     

January 28,

2012

    

January 29,

2011

  
     (53 weeks)               

Net sales:

        

In the United States

        

Marmaxx

    $ 17,011,409       $ 15,367,519      $ 14,092,159   

HomeGoods

      2,657,111         2,243,986        1,958,007   

A.J. Wright(1)

      —         9,229        888,364   

TJX Canada

      2,925,991         2,680,071        2,510,201   

TJX Europe

      3,283,861         2,890,650        2,493,462   
     $ 25,878,372       $ 23,191,455      $ 21,942,193   

Segment profit (loss):

        

In the United States

        

Marmaxx

    $ 2,486,274       $ 2,073,430      $ 1,875,951   

HomeGoods

      324,623         234,445        186,535   

A.J. Wright(1)

      —         (49,291 )      (129,986 ) 

TJX Canada

      414,914         348,028        351,989   

TJX Europe

      215,713         68,739        75,849   
     3,441,524         2,675,351        2,360,338   

General corporate expense

      334,998         228,289        168,659   

Provision (credit) for Computer Intrusion related costs

      —         —        (11,550 ) 

Interest expense, net

      29,175         35,648        39,137   

Income from continuing operations before provision for income taxes

    $ 3,077,351       $ 2,411,414      $ 2,164,092   

Identifiable assets:

        

In the United States

        

Marmaxx

    $ 4,569,887       $ 4,115,124      $ 3,625,780   

HomeGoods

      569,476         488,405        427,162   

A.J. Wright(1)

      —         —        71,194   

TJX Canada

      978,577         746,593        726,781   

TJX Europe

      1,261,556         1,070,655        1,088,399   

Corporate (2)

      2,132,359         1,860,828        2,032,447   
     $ 9,511,855       $ 8,281,605      $ 7,971,763   

Capital expenditures:

        

In the United States

        

Marmaxx

    $ 590,307       $ 458,720      $ 360,296   

HomeGoods

      90,291         77,863        46,608   

A.J. Wright(1)

      —         —        29,135   

TJX Canada

      132,874         92,846        66,391   

TJX Europe

      164,756         173,901        204,704   
     $ 978,228       $ 803,330      $ 707,134   

Depreciation and amortization:

        

In the United States

        

Marmaxx

    $ 293,820       $ 289,921      $ 272,037   

HomeGoods

      47,915         37,881        35,129   

A.J. Wright(1)

      —         —        18,981   

TJX Canada

      64,810         59,112        54,815   

TJX Europe

      99,487         96,370        74,868   

Corporate (3)

      2,897         2,417        2,222   
     $ 508,929       $ 485,701      $ 458,052   

 

(1) On December 8, 2010, the Board of Directors of TJX approved the consolidation of the A.J. Wright segment. All stores operating under the A.J. Wright banner closed by February 13, 2011 and the conversion process of certain stores to other banners was completed during the first quarter of fiscal 2012 (see Note C).
(2) Corporate identifiable assets consist primarily of cash, receivables, prepaid insurance, a note receivable, the trust maintained in connection with the Executive Savings Plan and deferred taxes.
(3) Includes debt discount accretion and debt expense amortization.