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Pension Plans and Other Retirement Benefits (Tables) | 12 Months Ended
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Jan. 28, 2017
Financial Information Related to Funded Defined Benefit Pension Plan and Unfunded Supplemental 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. The Company has elected the practical expedient pursuant to ASU 2015-04 and has selected the measurement date of January 31, the calendar month end closest to the Company’s fiscal year end.
|  | Funded Plan Fiscal Year Ended |  |  | Unfunded Plan Fiscal Year Ended |
In thousands |  | January 28, 2017 |  |  | January 30, 2016 |  |  | January 28, 2017 |  |  | January 30, 2016 |
Change in projected benefit obligation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Projected benefit obligation at beginning of year |  | $ | 1,213,000 |  |  | $ | 1,309,889 |  |  | $ | 84,967 |  |  | $ | 82,238 |
Service cost |  |  | 45,440 |  |  |  | 50,080 |  |  |  | 1,835 |  |  |  | 1,562 |
Interest cost |  |  | 56,094 |  |  |  | 51,710 |  |  |  | 3,391 |  |  |  | 3,033 |
Actuarial (gains) losses |  |  | 91,114 |  |  |  | (170,674 | ) |  |  | 740 |  |  |  | 3,806 |
Settlements |  |  | (103,197 | ) |  |  | — |  |  |  | — |  |  |  | — |
Benefits paid |  |  | (28,751 | ) |  |  | (24,956 | ) |  |  | (4,624 | ) |  |  | (5,672 | )
Expenses paid |  |  | (4,690 | ) |  |  | (3,049 | ) |  |  | — |  |  |  | — |
Plan amendment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Projected benefit obligation at end of year |  | $ | 1,269,010 |  |  | $ | 1,213,000 |  |  | $ | 86,309 |  |  | $ | 84,967 |
Accumulated benefit obligation at end of year |  | $ | 1,151,151 |  |  | $ | 1,120,602 |  |  | $ | 71,273 |  |  | $ | 70,750 |
|  | Funded Plan Fiscal Year Ended |  |  | Unfunded Plan Fiscal Year Ended |
In thousands |  | January 28, 2017 |  |  | January 30, 2016 |  |  | January 28, 2017 |  |  | January 30, 2016 |
Change in plan assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  | $ | 1,119,842 |  |  | $ | 1,170,748 |  |  | $ | — |  |  | $ | — |
Actual return on plan assets |  |  | 143,756 |  |  |  | (72,901 | ) |  |  | — |  |  |  | — |
Employer contribution |  |  | 50,000 |  |  |  | 50,000 |  |  |  | 4,624 |  |  |  | 5,672 |
Settlements |  |  | (103,197 | ) |  |  | — |  |  |  | — |  |  |  | — |
Benefits paid |  |  | (28,751 | ) |  |  | (24,956 | ) |  |  | (4,624 | ) |  |  | (5,672 | )
Expenses paid |  |  | (4,690 | ) |  |  | (3,049 | ) |  |  | — |  |  |  | — |
Fair value of plan assets at end of year |  | $ | 1,176,960 |  |  | $ | 1,119,842 |  |  | $ | — |  |  | $ | — |
Reconciliation of funded status: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Projected benefit obligation at end of year |  | $ | 1,269,010 |  |  | $ | 1,213,000 |  |  | $ | 86,309 |  |  | $ | 84,967 |
Fair value of plan assets at end of year |  |  | 1,176,960 |  |  |  | 1,119,842 |  |  |  | — |  |  |  | — |
Funded status – excess obligation |  | $ | 92,050 |  |  | $ | 93,158 |  |  | $ | 86,309 |  |  | $ | 84,967 |
Net liability recognized on consolidated balance sheets |  | $ | 92,050 |  |  | $ | 93,158 |  |  | $ | 86,309 |  |  | $ | 84,967 |
Amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service cost |  | $ | 2,313 |  |  | $ | 2,690 |  |  | $ | — |  |  | $ | — |
Accumulated actuarial losses |  |  | 303,612 |  |  |  | 348,289 |  |  |  | 26,438 |  |  |  | 29,046 |
Amounts included in accumulated other comprehensive income (loss) |  | $ | 305,925 |  |  | $ | 350,979 |  |  | $ | 26,438 |  |  | $ | 29,046 |
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 |
|  | January 28, 2017 |  |  | January 30, 2016 |  |  | January 28, 2017 |  |  | January 30, 2016 |
Discount rate |  |  | 4.40 | % |  |  | 4.80 | % |  |  | 4.00 | % |  |  | 4.20 | %
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 (Loss) | The following are the components of net periodic benefit cost and other amounts recognized in other comprehensive income (loss) related to our pension plans:
|  | Funded Plan Fiscal Year Ended |  |  | Unfunded Plan Fiscal Year Ended |
Dollars in thousands |  | January 28, 2017 |  |  | January 30, 2016 |  |  | January 31, 2015 |  |  | January 28, 2017 |  |  | January 30, 2016 |  |  | January 31, 2015 |
Net periodic pension cost: |  |  |  |  |  |  |  |
Service cost |  | $ | 45,440 |  |  | $ | 50,080 |  |  | $ | 40,481 |  |  | $ | 1,835 |  |  | $ | 1,562 |  |  | $ | 1,398 |
Interest cost |  |  | 56,094 |  |  |  | 51,710 |  |  |  | 49,522 |  |  |  | 3,391 |  |  |  | 3,033 |  |  |  | 3,001 |
Expected return on plan assets |  |  | (70,535 | ) |  |  | (78,042 | ) |  |  | (65,187 | ) |  |  | — |  |  |  | — |  |  |  | — |
Amortization of prior service cost |  |  | 377 |  |  |  | 377 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2 |
Amortization of net actuarial loss |  |  | 31,397 |  |  |  | 33,146 |  |  |  | 13,848 |  |  |  | 3,349 |  |  |  | 3,958 |  |  |  | 2,146 |
Settlement charge |  |  | 31,173 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total expense |  | $ | 93,946 |  |  | $ | 57,271 |  |  | $ | 38,664 |  |  | $ | 8,575 |  |  | $ | 8,553 |  |  | $ | 6,547 |
Other changes in plan assets and benefit obligations recognized in other comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net (gain) loss |  | $ | 17,894 |  |  | $ | (19,731 | ) |  | $ | 209,091 |  |  | $ | 740 |  |  | $ | 3,806 |  |  | $ | 19,552 |
Amortization of net (loss) |  |  | (31,397 | ) |  |  | (33,146 | ) |  |  | (13,848 | ) |  |  | (3,349 | ) |  |  | (3,958 | ) |  |  | (2,146 | )
Settlement charge |  |  | (31,173 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Amortization of prior service cost |  |  | (377 | ) |  |  | (377 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2 | )
Plan amendment |  |  | — |  |  |  | — |  |  |  | 3,067 |  |  |  | — |  |  |  | — |  |  |  | — |
Total recognized in other comprehensive income (loss) |  | $ | (45,053 | ) |  | $ | (53,254 | ) |  | $ | 198,310 |  |  | $ | (2,609 | ) |  | $ | (152 | ) |  | $ | 17,404 |
Total recognized in net periodic benefit cost and other comprehensive income (loss) |  | $ | 48,893 |  |  | $ | 4,017 |  |  | $ | 236,974 |  |  | $ | 5,966 |  |  | $ | 8,401 |  |  | $ | 23,951 |
Weighted average assumptions for expense purposes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 4.80%/3.80% |  |  |  | 4.00% |  |  |  | 5.00% |  |  |  | 4.20% |  |  |  | 3.70% |  |  |  | 4.80% |
Expected rate of return on plan assets |  |  | 6.50%/6.00% |  |  |  | 6.75% |  |  |  | 7.00% |  |  |  | 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 |  |  |  |  |  |  |  |
2018 |  |  | 36,344 |  |  |  | 4,063 |
2019 |  |  | 39,888 |  |  |  | 4,534 |
2020 |  |  | 43,673 |  |  |  | 39,428 |
2021 |  |  | 47,775 |  |  |  | 4,425 |
2022 |  |  | 52,167 |  |  |  | 4,380 |
2023 through 2027 |  |  | 329,327 |  |  |  | 26,285 |
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 January 28, 2017:
|  | Funded Plan |
In thousands |  | Level 1 |  |  | Level 2 |  |  | Total |
Asset category: |  |  |  |  |  |  |  |  |  |  |  |
Short-term investments |  | $ | 63,704 |  |  | $ | — |  |  | $ | 63,704 |
Equity Securities |  |  | 208,451 |  |  |  | — |  |  |  | 208,451 |
Fixed Income Securities: |  |  |  |  |  |  |  |  |  |  |  |
Corporate and government bond funds |  |  | — |  |  |  | 386,777 |  |  |  | 386,777 |
Futures Contracts |  |  | — |  |  |  | (31 | ) |  |  | (31 | )
Total assets in the fair value hierarchy |  | $ | 272,155 |  |  | $ | 386,746 |  |  | $ | 658,901 |
Assets measured at net asset value* |  |  | — |  |  |  | — |  |  |  | 518,059 |
Fair value of assets |  | $ | 272,155 |  |  | $ | 386,746 |  |  | $ | 1,176,960 |
* | In accordance with Subtopic 820-10, certain investments that were measured using net asset value per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the fair value of assets presented above.
The following table presents the fair value hierarchy for pension assets measured at fair value on a recurring basis as of January 30, 2016:
|  | Funded Plan |
In thousands |  | Level 1 |  |  | Level 2 |  |  | Total |
Asset category: |  |  |  |  |  |  |  |  |  |  |  |
Short-term investments |  | $ | 57,713 |  |  | $ | — |  |  | $ | 57,713 |
Equity Securities |  |  | 216,526 |  |  |  | — |  |  |  | 216,526 |
Fixed Income Securities: |  |  |  |  |  |  |  |  |  |  |  |
Corporate and government bond funds |  |  | — |  |  |  | 337,864 |  |  |  | 337,864 |
Futures Contracts |  |  | — |  |  |  | (33 | ) |  |  | (33 | )
Total assets in the fair value hierarchy |  | $ | 274,239 |  |  | $ | 337,831 |  |  | $ | 612,070 |
Assets measured at net asset value* |  |  | — |  |  |  | — |  |  |  | 507,772 |
Fair value of assets |  | $ | 274,239 |  |  | $ | 337,831 |  |  | $ | 1,119,842 |
* | In accordance with Subtopic 820-10, certain investments that were measured using net asset value per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the fair value of assets presented above.
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 guidelines 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 |  |  | January 28, 2017 |  |  | January 30, 2016 |
Return-seeking assets (previously equity securities) |  |  | 50% |  |  |  | 44% |  |  |  | 40% |
Liability-hedging assets (previously fixed income) |  |  | 50% |  |  |  | 51% |  |  |  | 55% |
All other – primarily cash |  |  | — |  |  |  | 5% |  |  |  | 5% |

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- Definition Defined Benefit Plan Fair Value Of Plan Assets Measured At Recurring Basis [Table Text Block] + References No definition available. + Details
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- 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=65897934&loc=d3e1928-114920 + Details
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- 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=65897934&loc=d3e1928-114920 + Details
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