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Financial Instruments (Tables)

3 Months Ended

Apr. 29, 2017

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 April 29, 2017:

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 April 29, 2017
Fair value hedges:
Intercompany balances, primarily debt and related interest
		zł            67,000		£	13,000				0.1940				(Accrued Exp)				—				(292	)			(292	)
		€             66,000		£	57,048				0.8644				Prepaid Exp				1,565				—				1,565
		U.S.$      68,445		£	55,000				0.8036				Prepaid Exp				3,319				—				3,319
		A$          10,000		$	5,799				0.5799				Prepaid Exp				60				—				60
Economic hedges for which hedge accounting was not elected:
Diesel contracts		Fixed on 2.1M – 2.5M gal per month			Float on 2.1M – 2.5M gal per month				N/A				(Accrued Exp)				—				(1,585	)			(1,585	)
Intercompany billings in Europe, primarily merchandise related		€             85,000		£	72,765				0.8561				Prepaid Exp				1,546				—				1,546
Merchandise purchase commitments
		C$        521,997		U.S.$	394,800				0.7563				Prepaid Exp				11,755				—				11,755
		C$          24,743		€	17,500				0.7073				Prepaid Exp				953				—				953
		£           209,383		U.S.$	263,000				1.2561				(Accrued Exp)				—				(8,919	)			(8,919	)
		A$          17,940		U.S.$	13,573				0.7566				Prepaid Exp / (Accrued Exp)				162				(19	)			143
		zł          269,048		£	52,774				0.1962				Prepaid Exp / (Accrued Exp)				411				(1,243	)			(832	)
		U.S.$      36,314		€	33,862				0.9325				Prepaid Exp				683				—				683
Total fair value of financial instruments																$	20,454			$	(12,058	)		$	8,396

The following is a summary of TJX’s derivative financial instruments, related fair value and balance sheet classification at April 30, 2016:

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 April 30, 2016
Fair value hedges:
Intercompany balances, primarily debt and related interest
		zł             87,073		C$	29,950				0.3440				Prepaid Exp			$	1,085			$	—			$	1,085
		zł             45,000		£	7,403				0.1645				(Accrued Exp)				—				(933	)			(933	)
		€              53,000		£	40,820				0.7702				(Accrued Exp)				—				(1,637	)			(1,637	)
		U.S.$      77,957		£	55,000				0.7055				Prepaid Exp				2,523				—				2,523
Economic hedges for which hedge accounting was not elected:
Diesel contracts		Fixed on 1.9M – 2.2M gal per month			Float on 1.9M – 2.2M gal per month				N/A				(Accrued Exp)				—				(4,875	)			(4,875	)
Intercompany billings in Europe, primarily merchandise related		€              85,000		£	67,798				0.7976				Prepaid Exp				1,538				—				1,538
Merchandise purchase commitments
		C$         492,465		U.S.$	362,900				0.7369				(Accrued Exp)				—				(29,356	)			(29,356	)
		C$           20,941		€	14,000				0.6685				(Accrued Exp)				—				(639	)			(639	)
		£            146,518		U.S.$	212,550				1.4507				Prepaid Exp / (Accrued Exp)				2,027				(3,635	)			(1,608	)
		zł           216,245		£	38,136				0.1764				Prepaid Exp / (Accrued Exp)				293				(1,133	)			(840	)
		U.S.$        38,434		€	34,051				0.8860				Prepaid Exp				634				—				634
Total fair value of financial instruments																$	8,100			$	(42,208	)		$	(34,108	)

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				April 29, 2017				April 30, 2016
Fair value hedges:
Intercompany balances, primarily debt and related interest		Selling, general and administrative expenses		$	3,225			$	877
Economic hedges for which hedge accounting was not elected:
Diesel fuel contracts		Cost of sales, including buying and occupancy costs			(3,323	)			2,287
Intercompany billings in Europe, primarily merchandise related		Cost of sales, including buying and occupancy costs			1,601				(2,108	)
Merchandise purchase commitments		Cost of sales, including buying and occupancy costs			9,933				(44,988	)
Gain / (loss) recognized in income				$	11,436			$	(43,932	)

X

- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5618551-113959

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X

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624163-113959

+ Details

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