XML 71 R36.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Pension Plans and Other Retirement Benefits (Tables) | 12 Months Ended
--- | ---
Feb. 01, 2014
Changes in Funded and Unfunded Pension and Retirement Plan | Presented below is financial information relating to TJX’s funded defined benefit pension plan (qualified pension plan or funded plan) and its unfunded supplemental pension plan (unfunded plan) for the fiscal years indicated:
|  | Funded Plan Fiscal Year Ended |  |  | Unfunded Plan Fiscal Year Ended |
In thousands |  | February 1, 2014 |  |  | February 2, 2013 |  |  | February 1, 2014 |  |  | February 2, 2013 |
|  |  |  |  | (53 weeks) |  |  |  |  |  | (53 weeks) |
Change in projected benefit obligation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Projected benefit obligation at beginning of year |  | $ | 1,018,712 |  |  | $ | 850,687 |  |  | $ | 61,033 |  |  | $ | 53,351 |
Service cost |  |  | 44,623 |  |  |  | 41,813 |  |  |  | 1,716 |  |  |  | 1,448 |
Interest cost |  |  | 44,654 |  |  |  | 42,029 |  |  |  | 2,447 |  |  |  | 2,321 |
Correction of prior years pension accruals |  |  | — |  |  |  | 33,788 |  |  |  | — |  |  |  | — |
Actuarial losses (gains) |  |  | (84,970 | ) |  |  | 70,438 |  |  |  | (2,925 | ) |  |  | 6,666 |
Benefits paid |  |  | (23,431 | ) |  |  | (17,989 | ) |  |  | (2,705 | ) |  |  | (2,753 | )
Expenses paid |  |  | (2,620 | ) |  |  | (2,054 | ) |  |  | — |  |  |  | — |
Projected benefit obligation at end of year |  | $ | 996,968 |  |  | $ | 1,018,712 |  |  | $ | 59,566 |  |  | $ | 61,033 |
Accumulated benefit obligation at end of year |  | $ | 921,723 |  |  | $ | 939,905 |  |  | $ | 49,957 |  |  | $ | 49,879 |
|  | Funded Plan Fiscal Year Ended |  |  | Unfunded Plan Fiscal Year Ended |
In thousands |  | February 1, 2014 |  |  | February 2, 2013 |  |  | February 1, 2014 |  |  | February 2, 2013 |
|  |  |  |  | (53 weeks) |  |  |  |  |  | (53 weeks) |
Change in plan assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  | $ | 876,083 |  |  | $ | 750,797 |  |  | $ | — |  |  | $ | — |
Actual return on plan assets |  |  | 64,769 |  |  |  | 70,329 |  |  |  | — |  |  |  | — |
Employer contribution |  |  | 30,000 |  |  |  | 75,000 |  |  |  | 2,705 |  |  |  | 2,753 |
Benefits paid |  |  | (23,431 | ) |  |  | (17,989 | ) |  |  | (2,705 | ) |  |  | (2,753 | )
Expenses paid |  |  | (2,620 | ) |  |  | (2,054 | ) |  |  | — |  |  |  | — |
Fair value of plan assets at end of year |  | $ | 944,801 |  |  | $ | 876,083 |  |  | $ | — |  |  | $ | — |
Reconciliation of funded status: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Projected benefit obligation at end of year |  | $ | 996,968 |  |  | $ | 1,018,712 |  |  | $ | 59,566 |  |  | $ | 61,033 |
Fair value of plan assets at end of year |  |  | 944,801 |  |  |  | 876,083 |  |  |  | — |  |  |  | — |
Funded status – excess obligation |  | $ | 52,167 |  |  | $ | 142,629 |  |  | $ | 59,566 |  |  | $ | 61,033 |
Net liability recognized on consolidated balance sheets |  | $ | 52,167 |  |  | $ | 142,629 |  |  | $ | 59,566 |  |  | $ | 61,033 |
Amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service cost |  | $ | — |  |  | $ | — |  |  | $ | 2 |  |  | $ | 5 |
Accumulated actuarial losses |  |  | 205,923 |  |  |  | 323,258 |  |  |  | 11,792 |  |  |  | 17,601 |
Amounts included in accumulated other comprehensive income (loss) |  | $ | 205,923 |  |  | $ | 323,258 |  |  | $ | 11,794 |  |  | $ | 17,606 |
Weighted Average Assumptions for Obligation | Presented below are weighted average assumptions for measurement purposes for determining the obligation at the year-end measurement date:
|  | Funded Plan Fiscal Year Ended |  |  | Unfunded Plan Fiscal Year Ended |
|  | February 1, 2014 |  |  | February 2, 2013 |  |  | February 1, 2014 |  |  | February 2, 2013 |
Discount rate |  |  | 5.00 | % |  |  | 4.40 | % |  |  | 4.80 | % |  |  | 4.00 | %
Rate of compensation increase |  |  | 4.00 | % |  |  | 4.00 | % |  |  | 6.00 | % |  |  | 6.00 | %
Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income | The following are the components of net periodic benefit cost and other amounts recognized in other comprehensive income related to our pension plans:
|  | Funded Plan Fiscal Year Ended |  |  | Unfunded Plan Fiscal Year Ended |
Dollars in thousands |  | February 1, 2014 |  |  | February 2, 2013 |  |  | January 28, 2012 |  |  | February 1, 2014 |  |  | February 2, 2013 |  |  | January 28, 2012 |
|  |  |  |  | (53 weeks) |  |  |  |  |  |  |  |  | (53 weeks) |  |  |  |
Net periodic pension cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 44,623 |  |  | $ | 41,813 |  |  | $ | 33,858 |  |  | $ | 1,716 |  |  | $ | 1,448 |  |  | $ | 1,188 |
Interest cost |  |  | 44,654 |  |  |  | 42,029 |  |  |  | 38,567 |  |  |  | 2,447 |  |  |  | 2,321 |  |  |  | 2,410 |
Expected return on plan assets |  |  | (60,474 | ) |  |  | (54,759 | ) |  |  | (49,059 | ) |  |  | — |  |  |  | — |  |  |  | — |
Amortization of prior service cost |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3 |  |  |  | 3 |  |  |  | 4 |
Amortization of net actuarial loss |  |  | 28,070 |  |  |  | 25,373 |  |  |  | 10,854 |  |  |  | 2,884 |  |  |  | 1,465 |  |  |  | 666 |
Expense related to current period |  |  | 56,873 |  |  |  | 54,456 |  |  |  | 34,220 |  |  |  | 7,050 |  |  |  | 5,237 |  |  |  | 4,268 |
Correction of prior years pension accruals |  |  | — |  |  |  | 26,964 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total expense |  | $ | 56,873 |  |  | $ | 81,420 |  |  | $ | 34,220 |  |  | $ | 7,050 |  |  | $ | 5,237 |  |  | $ | 4,268 |
Other changes in plan assets and benefit obligations recognized in other comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net (gain) loss |  | $ | (89,265 | ) |  | $ | 61,692 |  |  | $ | 148,759 |  |  | $ | (2,925 | ) |  | $ | 6,666 |  |  | $ | 3,582 |
Amortization of net (loss) |  |  | (28,070 | ) |  |  | (25,373 | ) |  |  | (10,854 | ) |  |  | (2,884 | ) |  |  | (1,465 | ) |  |  | (666 | )
Amortization of prior service cost |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (3 | ) |  |  | (3 | ) |  |  | (4 | )
Total recognized in other comprehensive income |  | $ | (117,335 | ) |  | $ | 36,319 |  |  | $ | 137,905 |  |  | $ | (5,812 | ) |  | $ | 5,198 |  |  | $ | 2,912 |
Total recognized in net periodic benefit cost and other comprehensive income |  | $ | (60,462 | ) |  | $ | 117,739 |  |  | $ | 172,125 |  |  | $ | 1,238 |  |  | $ | 10,435 |  |  | $ | 7,180 |
Weighted average assumptions for expense purposes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 4.40% |  |  |  | 4.80% |  |  |  | 5.75% |  |  |  | 4.00% |  |  |  | 4.40% |  |  |  | 5.25% |
Expected rate of return on plan assets |  |  | 7.00% |  |  |  | 7.40% |  |  |  | 7.50% |  |  |  | N/A |  |  |  | N/A |  |  |  | N/A |
Rate of compensation increase |  |  | 4.00% |  |  |  | 4.00% |  |  |  | 4.00% |  |  |  | 6.00% |  |  |  | 6.00% |  |  |  | 6.00% |
Schedule of Benefits Expected to be Paid in Each of Next Five Fiscal Years and Thereafter | The following is a schedule of the benefits expected to be paid in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter:
In thousands |  | Funded Plan Expected Benefit Payments |  |  | Unfunded Plan Expected Benefit Payments |
Fiscal Year |  |  |  |  |  |  |  |
2015 |  | $ | 26,650 |  |  | $ | 3,395 |
2016 |  |  | 29,667 |  |  |  | 2,418 |
2017 |  |  | 33,045 |  |  |  | 4,513 |
2018 |  |  | 36,970 |  |  |  | 4,591 |
2019 |  |  | 40,952 |  |  |  | 4,735 |
2020 through 2024 |  |  | 268,314 |  |  |  | 21,163 |
Fair Value for Pension Assets Measured at Fair Value on Recurring Basis | The following table presents the fair value hierarchy (See Note G) for pension assets measured at fair value on a recurring basis as of February 1, 2014:
|  | Funded Plan |
In thousands |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Asset category: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term investments |  | $ | 57,217 |  |  | $ | — |  |  | $ | — |  |  | $ | 57,217 |
Equity Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic equity |  |  | 74,415 |  |  |  | — |  |  |  | — |  |  |  | 74,415 |
International equity |  |  | 150,149 |  |  |  | — |  |  |  | — |  |  |  | 150,149 |
Fixed Income Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate and government bond funds |  |  | — |  |  |  | 214,752 |  |  |  | — |  |  |  | 214,752 |
Futures Contracts |  |  | — |  |  |  | 202 |  |  |  | — |  |  |  | 202 |
Common/Collective Trusts |  |  | — |  |  |  | 429,932 |  |  |  | 10,421 |  |  |  | 440,353 |
Limited Partnerships |  |  | — |  |  |  | — |  |  |  | 7,713 |  |  |  | 7,713 |
Fair value of plan assets |  | $ | 281,781 |  |  | $ | 644,886 |  |  | $ | 18,134 |  |  | $ | 944,801 |
The following table presents the fair value hierarchy for pension assets measured at fair value on a recurring basis as of February 2, 2013:
|  | Funded Plan |
In thousands |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Asset category: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term investments |  | $ | 144,008 |  |  | $ | — |  |  | $ | — |  |  | $ | 144,008 |
Equity Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic equity |  |  | 65,105 |  |  |  | — |  |  |  | — |  |  |  | 65,105 |
International equity |  |  | 61,944 |  |  |  | — |  |  |  | — |  |  |  | 61,944 |
Fixed Income Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate and government bond funds |  |  | — |  |  |  | 203,931 |  |  |  | — |  |  |  | 203,931 |
Common/Collective Trusts |  |  | — |  |  |  | 376,873 |  |  |  | 13,158 |  |  |  | 390,031 |
Limited Partnerships |  |  | — |  |  |  | — |  |  |  | 11,064 |  |  |  | 11,064 |
Fair value of plan assets |  | $ | 271,057 |  |  | $ | 580,804 |  |  | $ | 24,222 |  |  | $ | 876,083 |
Reconciliation of Level 3 Plan Assets Measured at Fair Value | The following table presents a reconciliation of Level 3 plan assets measured at fair value for the years ended February 1, 2014 and February 2, 2013:
In thousands |  | Common/Collective Trusts |  |  | Limited Partnerships |
Balance as of January 28, 2012 |  | $ | 14,775 |  |  | $ | 12,042 |
Earned income, net of management expenses |  |  | 1,258 |  |  |  | 348 |
Unrealized gain on investment |  |  | 39 |  |  |  | 595 |
Purchases, sales, issuances and settlements, net |  |  | (2,914 | ) |  |  | (1,921 | )
Balance as of February 2, 2013 |  | $ | 13,158 |  |  | $ | 11,064 |
Earned income, net of management expenses |  |  | 671 |  |  |  | 312 |
Unrealized gain on investment |  |  | 676 |  |  |  | 507 |
Purchases, sales, issuances and settlements, net |  |  | (4,084 | ) |  |  | (4,170 | )
Balance as of February 1, 2014 |  | $ | 10,421 |  |  | $ | 7,713 |
Summary of Target Allocation for Plan Assets Along with Actual Allocation of Plan Assets as of Valuation Date | The following is a summary of TJX’s target allocation for plan assets along with the actual allocation of plan assets as of the valuation date for the fiscal years presented:
|  |  |  |  | Actual Allocation for Fiscal Year Ended |
|  | Target Allocation |  |  | February 1, 2014 |  |  | February 2, 2013 |
Equity securities |  |  | 50% |  |  |  | 51% |  |  |  | 46% |
Fixed income |  |  | 50% |  |  |  | 44% |  |  |  | 44% |
All other – primarily cash |  |  | — |  |  |  | 5% |  |  |  | 10% |

X
- Definition Components Of Net Periodic Benefit Cost And Other Amounts Recognized In Other Comprehensive Income [Table Text Block] + References No definition available. + Details
Name: | tjx_ComponentsOfNetPeriodicBenefitCostAndOtherAmountsRecognizedInOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | tjx_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Defined Benefit Plan Fair Value Of Plan Assets Measured At Recurring Basis [Table Text Block] + References No definition available. + Details
Name: | tjx_DefinedBenefitPlanFairValueOfPlanAssetsMeasuredAtRecurringBasisTableTextBlock
Namespace Prefix: | tjx_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration