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Segment Information
 12 Months Ended
Feb. 01, 2014
Segment Information

Note H. Segment Information

TJX operates four main business segments. The Marmaxx segment (T.J. Maxx, Marshalls and tjmaxx.com) and the HomeGoods segment both operate in the United States, the TJX Canada segment operates Winners, HomeSense and Marshalls in Canada, and the TJX Europe segment operates T.K. Maxx, HomeSense and tkmaxx.com in Europe. Late in fiscal 2013 TJX acquired STP, an off-price Internet retailer in the U.S. The results of STP are reported in 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.

The percentages of our consolidated revenues by major product category for the last three fiscal years are as follows:

Fiscal 2014 Fiscal 2013 Fiscal 2012

Apparel

Clothing including footwear

 58 % 59 % 60 %

Jewelry and accessories

 14 % 13 % 13 %

Home fashions

 28 % 28 % 27 %

Total

 100 % 100 % 100 %

For fiscal 2014, TJX Canada and TJX Europe accounted for 24% of TJX’s net sales, 19% of segment profit and 24% of consolidated assets.

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 1,

2014

February 2,

2013

January 28,

2012
(53 weeks)

Net sales:

In the United States

Marmaxx

 $ 17,929,576 $ 17,011,409 $ 15,367,519

HomeGoods

 2,993,718 2,657,111 2,243,986

A.J. Wright(1)

 — — 9,229

TJX Canada

 2,877,834 2,925,991 2,680,071

TJX Europe

 3,621,568 3,283,861 2,890,650
$ 27,422,696 $ 25,878,372 $ 23,191,455

Segment profit (loss):

In the United States

Marmaxx

 $ 2,612,693 $ 2,486,274 $ 2,073,430

HomeGoods

 386,541 324,623 234,445

A.J. Wright(1)

 — — (49,291 )

TJX Canada

 405,363 414,914 348,028

TJX Europe

 275,453 215,713 68,739
3,680,050 3,441,524 2,675,351

General corporate expense

 329,480 334,998 228,289

Interest expense, net

 31,081 29,175 35,648

Income before provision for income taxes

 $ 3,319,489 $ 3,077,351 $ 2,411,414

Business segment information (continued):

Fiscal Year Ended
In thousands

February 1,

2014

February 2,

2013

January 28,

2012
(53 weeks)

Identifiable assets:

In the United States

Marmaxx

 $ 4,700,347 $ 4,569,887 $ 4,115,124

HomeGoods

 638,742 569,476 488,405

TJX Canada

 962,101 978,577 746,593

TJX Europe

 1,510,132 1,261,556 1,070,655

Corporate (2)

 2,389,700 2,132,359 1,860,828

$ 10,201,022 $ 9,511,855 $ 8,281,605

Capital expenditures:

In the United States

Marmaxx

 $ 551,839 $ 590,307 $ 458,720

HomeGoods

 99,828 90,291 77,863

TJX Canada

 104,888 132,874 92,846

TJX Europe

 190,123 164,756 173,901

$ 946,678 $ 978,228 $ 803,330

Depreciation and amortization:

In the United States

Marmaxx

 $ 318,414 $ 293,820 $ 289,921

HomeGoods

 47,176 47,915 37,881

TJX Canada

 66,295 64,810 59,112

TJX Europe

 114,651 99,487 96,370

Corporate (3)

 2,287 2,897 2,417

$ 548,823 $ 508,929 $ 485,701

(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, the trust assets in connection with the Executive Savings Plan and deferred taxes. Consolidated cash, including cash held in our foreign entities, is included with Corporate assets for consistency with the reporting of cash for our segments in the U.S.
(3) Includes debt discount accretion and debt expense amortization.