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Long-Term Debt and Credit Lines | 12 Months Ended
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Jan. 31, 2015
Long-Term Debt and Credit Lines | Note K. Long-Term Debt and Credit Lines The table below presents long-term debt, exclusive of current installments, as of January 31, 2015 and February 1, 2014. All amounts are net of unamortized debt discounts.
In thousands |  | January 31, 2015 |  |  | February 1, 2014 |
General corporate debt: |  |  |  |  |  |  |  |
4.20% senior unsecured notes, redeemed on July 8, 2014 (effective interest rate of 4.20% after reduction of unamortized debt discount of $8 in fiscal 2014) |  | $ | — |  |  | $ | 399,992 |
6.95% senior unsecured notes, maturing April 15, 2019 (effective interest rate of 6.98% after reduction of unamortized debt discount of $294 and $364 in fiscal 2015 and 2014, respectively) |  |  | 374,706 |  |  |  | 374,636 |
2.50% senior unsecured notes, maturing May 15, 2023 (effective interest rate of 2.51% after reduction of unamortized debt discount of $367 and $412 in fiscal 2015 and 2014, respectively) |  |  | 499,633 |  |  |  | 499,588 |
2.75% senior unsecured notes, maturing June 15, 2021 (effective interest rate of 2.76% after reduction of unamortized debt discount of $475 in fiscal 2015) |  |  | 749,525 |  |  |  | — |
Long-term debt |  | $ | 1,623,864 |  |  | $ | 1,274,216 |
The aggregate maturities of long-term debt, exclusive of current installments at January 31, 2015 are as follows:
In thousands |  | Long-Term Debt |
Fiscal Year |  |  |  |
2017 |  | $ | — |
2018 |  |  | — |
2019 |  |  | — |
2020 |  |  | 375,000 |
Later years |  |  | 1,250,000 |
Less amount representing unamortized debt discount |  |  | (1,136 | )
Aggregate maturities of long-term debt |  | $ | 1,623,864 |
At January 31, 2015, TJX had outstanding $750 million aggregate principal amount of 2.75% seven-year notes, due June 2021. TJX entered into rate-lock agreements to hedge the underlying treasury rate of all of the 2.75% notes prior to their issuance. The agreements were accounted for as cash flow hedges and the pre-tax realized loss of $7.9 million was recorded as a component of other comprehensive income and is being amortized to interest expense over the term of the notes, resulting in an effective fixed interest rate of 2.91%. On July 8, 2014 TJX used a portion of the proceeds of the 2.75% seven-year notes to redeem the 4.20% notes and recorded a pre-tax loss on the early extinguishment of debt of $16.8 million, which includes $16.4 million of redemption premium and $0.4 million to write off unamortized debt expenses and discount. At January 31, 2015, TJX also had outstanding $500 million aggregate principal amount of 2.50% ten-year notes due May 2023 and $375 million aggregate principal amount of 6.95% ten-year notes due April 2019. TJX entered into rate-lock agreements to hedge the underlying treasury rate of $250 million of the 2.50% notes and all of the 6.95% notes. The costs of these agreements are being amortized to interest expense over the term of the respective notes, resulting in an effective fixed interest rate of 2.57% for the 2.50% notes and 7.00% for the 6.95% notes. At January 31, 2015, TJX had two $500 million revolving credit facilities, one which matures in June 2017 and one which matures in May 2016. As of January 31, 2015 and February 1, 2014 and during the years then ended, there were no amounts outstanding under these facilities. At January 31, 2015 the agreements require quarterly payments on the unused committed amounts of 8.0 basis points for the agreement maturing in 2017 and 12.5 basis points for the agreement maturing in 2016. These rates are based on the credit ratings of TJX’s long-term debt and would vary with specified changes in the credit ratings. These agreements have no compensating balance requirements and have various covenants. Each of these facilities requires TJX to maintain a ratio of funded debt and four-times consolidated rentals to consolidated earnings before interest, taxes, consolidated rentals, depreciation and amortization (“EBITDAR”) of not more that 2.75 to 1.00 on a rolling four-quarter basis. TJX was in compliance with all covenants related to its credit facilities at the end of all periods presented. As of January 31, 2015 and February 1, 2014, TJX’s foreign subsidiaries had uncommitted credit facilities. TJX Canada had two credit lines, a C$10 million facility for operating expenses and a C$10 million letter of credit facility. As of January 31, 2015 and February 1, 2014, and during the years then ended there were no amounts outstanding on the Canadian credit line for operating expenses. As of January 31, 2015 and February 1, 2014, TJX Europe had a credit line of £20 million. As of January 31, 2015 and February 1, 2014, and during the years then ended there were no amounts outstanding on this U.K. credit line.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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