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Income Taxes (Tables) | 12 Months Ended
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Feb. 01, 2014
Provision for Income Taxes | The provision for income taxes includes the following:
|  | Fiscal Year Ended |
In thousands |  | February 1, 2014 |  |  | February 2, 2013 |  |  | January 28, 2012 |
|  |  |  |  | (53 weeks) |  |  |  |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 815,811 |  |  | $ | 842,149 |  |  | $ | 554,847 |
State |  |  | 177,009 |  |  |  | 162,200 |  |  |  | 126,237 |
Foreign |  |  | 136,626 |  |  |  | 153,083 |  |  |  | 99,463 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 73,206 |  |  |  | 22,394 |  |  |  | 131,527 |
State |  |  | 5,928 |  |  |  | 1,583 |  |  |  | 6,202 |
Foreign |  |  | (26,487 | ) |  |  | (10,745 | ) |  |  | (2,952) |
Provision for income taxes |  | $ | 1,182,093 |  |  | $ | 1,170,664 |  |  | $ | 915,324 |
Net Deferred Tax (Liabilities) Assets | TJX had net deferred tax (liabilities) assets as follows:
|  | Fiscal Year Ended |
In thousands |  | February 1, 2014 |  |  | February 2, 2013 |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 25,711 |  |  | $ | 33,461 |
Reserve for former operations |  |  | 24,603 |  |  |  | 21,856 |
Pension, stock compensation, postretirement and employee benefits |  |  | 280,381 |  |  |  | 313,671 |
Leases |  |  | 43,966 |  |  |  | 40,440 |
Computer Intrusion reserve |  |  | 4,505 |  |  |  | 5,661 |
Other |  |  | 66,984 |  |  |  | 64,394 |
Total gross deferred tax assets |  |  | 446,150 |  |  |  | 479,483 |
Valuation allowance |  |  | (4,359 | ) |  |  | (35,941 | )
Net deferred tax assets |  | $ | 441,791 |  |  | $ | 443,542 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Property, plant and equipment |  | $ | 432,262 |  |  | $ | 360,167 |
Capitalized inventory |  |  | 48,612 |  |  |  | 47,903 |
Tradename / Intangibles |  |  | 45,528 |  |  |  | 43,520 |
Undistributed foreign earnings |  |  | 217,916 |  |  |  | 233,002 |
Other |  |  | 10,397 |  |  |  | 12,217 |
Total deferred tax liabilities |  | $ | 754,715 |  |  | $ | 696,809 |
Net deferred tax (liability) |  | $ | (312,924 | ) |  | $ | (253,267 | )
Reconciliation of U.S. Federal Statutory Income Tax Rate and Worldwide Effective Income Tax Rate | TJX’s worldwide effective income tax rate was 35.6% for fiscal 2014, 38.0% for fiscal 2013 and 38.0% for fiscal 2012. 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 1, 2014 |  |  | February 2, 2013 |  |  | January 28, 2012 |
|  |  |  |  | (53 weeks) |  |  |  |
U.S. federal statutory income tax rate |  |  | 35.0 | % |  |  | 35.0 | % |  |  | 35.0 | %
Effective state income tax rate |  |  | 3.6 |  |  |  | 3.5 |  |  |  | 3.6 |
Impact of foreign operations |  |  | (0.8 | ) |  |  | (0.3 | ) |  |  | (0.2 | )
All other |  |  | (2.2 | ) |  |  | (0.2 | ) |  |  | (0.4 | )
Worldwide effective income tax rate |  |  | 35.6 | % |  |  | 38.0 | % |  |  | 38.0 | %
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 1, 2014 |  |  | February 2, 2013 |  |  | January 28, 2012 |
Balance at beginning of year |  | $ | 148,777 |  |  | $ | 144,505 |  |  | $ | 123,094 |
Additions for uncertain tax positions taken in current year |  |  | 4,212 |  |  |  | 1,949 |  |  |  | 1,131 |
Additions for uncertain tax positions taken in prior years |  |  | 5,096 |  |  |  | 3,009 |  |  |  | 63,463 |
Reductions for uncertain tax positions taken in prior years |  |  | (69,292 | ) |  |  | — |  |  |  | (40,558 | )
Reductions resulting from lapse of statute of limitations |  |  | (317 | ) |  |  | (129 | ) |  |  | — |
Settlements with tax authorities |  |  | (39,796 | ) |  |  | (557 | ) |  |  | (2,625 | )
Balance at end of year |  | $ | 48,680 |  |  | $ | 148,777 |  |  | $ | 144,505 |

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- 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
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- 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
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- 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
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- 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 + Details
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