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Financial Instruments (Tables)

3 Months Ended

May 04, 2013

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 May 4, 2013:

In thousands		Pay				Receive				Blended Contract Rate				Balance Sheet Location		Current Asset U.S.$				Current (Liability) U.S.$				Net Fair Value in U.S.$  at May 4, 2013
Fair value hedges:
Intercompany balances, primarily short-term debt and related interest
		zł	141,500			C$	44,551				0.3148			(Accrued Exp)		$	—			$	(604	)		$	(604	)
		£	25,000			C$	38,946				1.5578			(Accrued Exp)			—				(475	)			(475	)
		€	44,281			£	35,781				0.8080			(Accrued Exp)			—				(2,537	)			(2,537	)
		€	90,292			U.S.$	118,511				1.3125			(Accrued Exp)			—				(111	)			(111	)
		U.S.$	87,117			£	55,000				0.6313			(Accrued Exp)			—				(1,572	)			(1,572	)
Economic hedges for which hedge accounting was not elected:
Diesel contracts			Fixed on 1.5M - 1.7M gal per month				Float on 1.5M - 1.7M gal per month				N/A			(Accrued Exp)			—				(427	)			(427	)
Merchandise purchase commitments
		C$	323,489			U.S.$	319,678				0.9882			Prepaid Exp / (Accrued Exp)			1,954				(2,757	)			(803	)
		C$	8,149			€	6,100				0.7486			(Accrued Exp)			—				(79	)			(79	)
		£	111,217			U.S.$	171,000				1.5375			Prepaid Exp / (Accrued Exp)			717				(2,875	)			(2,158	)
		£	4,289			€	5,000				1.1658			(Accrued Exp)			—				(123	)			(123	)
		£	12,823			zł	62,813				4.8985			Prepaid Exp			168				—				168
		U.S.$	9,907			€	7,580				0.7651			Prepaid Exp / (Accrued Exp)			71				(35	)			36
Total fair value of financial instruments																$	2,910			$	(11,595	)		$	(8,685	)

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

In thousands		Pay				Receive				Blended Contract Rate				Balance Sheet Location		Current Asset U.S.$				Current (Liability) U.S.$				Net Fair Value in U.S.$ at April 28, 2012
Fair value hedges:
Intercompany balances, primarily short-term debt and related interest
		£	40,000			C$	63,330				1.5833			(Accrued Exp)		$	—			$	(883	)		$	(883	)
		zł	80,000			C$	23,874				0.2984			Prepaid Exp / (Accrued Exp)			135				(762	)			(627	)
		€	25,000			£	21,335				0.8534			Prepaid Exp			1,427				—				1,427
		€	100,292			U.S.$	134,506				1.3411			Prepaid Exp / (Accrued Exp)			1,411				(138	)			1,273
		U.S.$	85,389			£	55,000				0.6441			Prepaid Exp			3,874				—				3,874
Economic hedges for which hedge accounting was not elected:
Diesel contracts			Fixed on 615K - 1.4M gal per month				Float on 615K - 1.4M gal per month				N/A			Prepaid Exp			3,216				—				3,216
Merchandise purchase commitments
		C$	321,256			U.S.$	324,247				1.0093			Prepaid Exp / (Accrued Exp)			807				(3,504	)			(2,697	)
		C$	7,850			€	6,000				0.7643			Prepaid Exp / (Accrued Exp)			5				(54	)			(49	)
		£	71,404			U.S.$	113,000				1.5825			(Accrued Exp)			—				(3,109	)			(3,109	)
		£	36,475			€	44,000				1.2063			(Accrued Exp)			—				(965	)			(965	)
		U.S.$	5,719			€	4,349				0.7604			Prepaid Exp			45				—				45
Total fair value of financial instruments																$	10,920			$	(9,415	)		$	1,505

Impact of Derivative Financial Instruments on Statements of Income

The impact of derivative financial instruments on the statements of income during the first quarter of fiscal 2014 and the first quarter of fiscal 2013 is as follows:

				Amount of Gain (Loss) Recognized in Income by Derivative
				Thirteen Weeks Ended
In thousands		Location of Gain (Loss) Recognized in Income by Derivative		May 4, 2013				April 28, 2012
Fair value hedges:
Intercompany balances, primarily short-term debt and related interest		Selling, general and administrative expenses		$	6,286			$	3,652
Economic hedges for which hedge accounting was not elected:
Diesel fuel contracts		Cost of sales, including buying and occupancy costs			(2,961	)			2,550
Merchandise purchase commitments		Cost of sales, including buying and occupancy costs			1,007				(10,403	)
Gain (loss) recognized in income				$	4,332			$	(4,201	)

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

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4A

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-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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