XML 47 R37.htm IDEA: XBRL DOCUMENT v2.4.0.6

Income Taxes (Tables)

12 Months Ended

Feb. 02, 2013

Provision for Income Taxes

The provision for income taxes includes the following:

		Fiscal Year Ended
In thousands		February 2, 2013				January 28, 2012				January 29, 2011
		(53 weeks)
Current:
Federal		$	842,149			$	554,847			$	510,629
State			162,200				126,237				113,573
Foreign			153,083				99,463				105,489
Deferred:
Federal			22,394				131,527				91,568
State			1,583				6,202				1,731
Foreign			(10,745	)			(2,952	)			1,572
Provision for income taxes		$	1,170,664			$	915,324			$	824,562

Net Deferred Tax (Liabilities) Assets

TJX had net deferred tax (liabilities) assets as follows:

		Fiscal Year Ended
In thousands		February 2, 2013				January 28, 2012
Deferred tax assets:
Foreign tax credit carryforward		$	—			$	24,861
Reserve for former operations			19,565				7,363
Pension, stock compensation, postretirement and employee benefits			313,597				265,397
Leases			40,440				39,778
Computer Intrusion reserve			5,661				5,699
Other			64,393				65,970
Total deferred tax assets		$	443,656			$	409,068
Deferred tax liabilities:
Property, plant and equipment		$	360,282			$	360,629
Capitalized inventory			47,903				46,864
Tradename			43,520				42,873
Undistributed foreign earnings			233,002				201,012
Other			12,216				14,322
Total deferred tax liabilities		$	696,923			$	665,700
Net deferred tax (liability)		$	(253,267	)		$	(256,632	)

Reconciliation of U.S. Federal Statutory Income Tax Rate and Worldwide Effective Income Tax Rate

TJX's worldwide effective income tax rate was 38.0% for fiscal 2013, 38.0% for fiscal 2012 and 38.1% for fiscal 2011. The difference between the U.S. federal statutory income tax rate and TJX’s worldwide effective income tax rate is reconciled below:

		Fiscal Year Ended
		February 2,           2013				January 28,           2012				January 29,           2011
		(53 weeks)
U.S. federal statutory income tax rate			35.0	%			35.0	%			35.0	%
Effective state income tax rate			4.2				4.1				4.1
Impact of foreign operations			(0.9	)			(0.6	)			(0.5	)
All Other			(0.3	)			(0.5	)			(0.5	)
Worldwide effective income tax rate			38.0	%			38.0	%			38.1	%

Reconciliation of Beginning and Ending Gross Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending gross amount of unrecognized tax benefits is as follows:

		Fiscal Year Ended
In thousands		February 2, 2013				January 28, 2012				January 29, 2011
Balance at beginning of year		$	144,505			$	123,094			$	191,741
Additions for uncertain tax positions taken in current year			1,949				1,131				3,968
Additions for uncertain tax positions taken in prior years			3,009				63,463				23,730
Reductions for uncertain tax positions taken in prior years			—				(40,558	)			(92,483	)
Reductions resulting from lapse of statute of limitations			(129	)			—				(1,123	)
Settlements with tax authorities			(557	)			(2,625	)			(2,739	)
Balance at end of year		$	148,777			$	144,505			$	123,094

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 15

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319



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

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 48

-Paragraph 21

-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.

+ Details

Name:	us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration