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Financial Instruments (Tables)
 9 Months Ended
Oct. 31, 2015
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 October 31, 2015:

 

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
October 31,
2015		  

Fair value hedges:

               

Intercompany balances, primarily debt and related interest

  

           
  zł     87,073      C$ 29,560        0.3395       Prepaid Exp / (Accrued Exp)   $ 270      $ (198 )    $ 72   
  zł     35,000      £ 6,279        0.1794       Prepaid Exp     635        —          635   
  €     45,000      £ 33,294        0.7399       Prepaid Exp     1,726        —          1,726   
  €     19,850      U.S.$ 22,647        1.1409       Prepaid Exp     762        —          762   
  U.S.$     83,400      £ 55,000        0.6595       Prepaid Exp     1,424        —          1,424   

Economic hedges for which hedge accounting was not elected:

  

           

Diesel contracts

      
 
 		 Fixed on 975K
– 3.0M gal per
month		   
  
  		    
 
 		 Float on 975K
– 3.0M gal
per month		   
  
  		     N/A       (Accrued Exp)     —          (10,437 )      (10,437 ) 

Merchandise purchase commitments

  

           
  C$     530,307      U.S.$ 410,904        0.7748       Prepaid Exp / (Accrued Exp)     6,470        (906 )      5,564   
  C$     18,574      € 12,700        0.6838       Prepaid Exp / (Accrued Exp)     2        (224 )      (222 ) 
  £     160,365      U.S.$ 247,900        1.5458       Prepaid Exp / (Accrued Exp)     1,218        (689 )      529   
  zł     213,967      £ 36,670        0.1714       Prepaid Exp     1,275        —          1,275   
  U.S.$     29,338      € 26,318        0.8971       Prepaid Exp / (Accrued Exp)     19        (379 )      (360 ) 
            

 

 

    

 

 

    

 

 

  

Total fair value of financial instruments

  

        $ 13,801      $ (12,833 )    $ 968   
            

 

 

    

 

 

    

 

 

  

 

The following is a summary of TJX’s derivative financial instruments, related fair value and balance sheet classification at November 1, 2014:

 

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
November 1,
2014		  

Fair value hedges:

               

Intercompany balances, primarily debt and related interest

  

           
  zł     87,073      C$ 30,519        0.3505       Prepaid Exp   $ 1,313      $ —        $ 1,313   
  €     39,000      £ 31,968        0.8197       Prepaid Exp     2,151        —          2,151   
  €     44,850      U.S.$ 61,842        1.3789       Prepaid Exp     5,635        —          5,635   
  U.S.$     90,309      £ 55,000        0.6090       (Accrued Exp)     —          (2,393 )      (2,393 ) 

Economic hedges for which hedge accounting was not elected:

  

           

Diesel contracts

      

 
 

 Fixed on 390K

- 1.8M gal per
month

   

  
  

    

 
 

 Float on 390K

- 1.8M gal per
month

   

  
  

     N/A       (Accrued Exp)     —          (5,360 )      (5,360 ) 

Merchandise purchase commitments

  

           
  C$     293,187      U.S.$ 267,020        0.9107       Prepaid Exp     7,060        —          7,060   
  C$     7,206      € 5,000        0.6939       Prepaid Exp /
(Accrued Exp)		     4        (135 )      (131 ) 
  £     103,088      U.S.$ 168,500        1.6345       Prepaid Exp /
(Accrued Exp)		     3,690        (5 )      3,685   
  zł     151,572      £ 28,638        0.1889       Prepaid Exp     992        —          992   
  U.S.$     21,525      € 16,401        0.7620       (Accrued Exp)     —          (981 )      (981 ) 
            

 

 

    

 

 

    

 

 

  

Total fair value of financial instruments

  

        $ 20,845      $ (8,874 )    $ 11,971   
            

 

 

    

 

 

    

 

 

  
Impact of Derivative Financial Instruments on Statements of Income

Presented below is the impact of derivative financial instruments on the statements of income for the periods shown:

 

          Amount of Gain (Loss) Recognized
in Income by Derivative		  
    

Location of Gain (Loss)

Recognized in Income by

Derivative

    Thirteen Weeks Ended  

In thousands

       October 31, 2015      November 1, 2014  

Fair value hedges:

         

Intercompany balances, primarily debt and related interest

    Selling, general and administrative expenses    $ (730 )     $ 1,842   

Economic hedges for which hedge accounting was not elected:

  

   

Diesel fuel contracts

    Cost of sales, including buying and occupancy costs      (2,405 )       (5,614 ) 

Merchandise purchase commitments

    Cost of sales, including buying and occupancy costs      5,311         16,476   
     

 

 

     

 

 

  

Gain / (loss) recognized in income

       $ 2,176       $ 12,704   
     

 

 

     

 

 

  
          Amount of Gain (Loss) Recognized
in Income by Derivative		  
    

Location of Gain (Loss)

Recognized in Income by

Derivative

    Thirty-Nine Weeks Ended  

In thousands

       October 31, 2015      November 1, 2014  

Fair value hedges:

         

Intercompany balances, primarily debt and related interest

    Selling, general and administrative expenses    $ 6,978       $ 5,720   

Economic hedges for which hedge accounting was not elected:

  

   

Diesel fuel contracts

    Cost of sales, including buying and occupancy costs      (11,696 )       (4,709 ) 

Merchandise purchase commitments

    Cost of sales, including buying and occupancy costs      12,854         780   
     

 

 

     

 

 

  

Gain / (loss) recognized in income

       $ 8,136       $ 1,791