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Financial Instruments (Tables) | 6 Months Ended
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Aug. 04, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of 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 August 4, 2018:
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 August 4, 2018
Fair value hedges: |  |  |  |  |  |  |  |
Intercompany balances, primarily debt and related interest |  |  |  |  |
| zł | 67,000 |  | £ | 14,035 |  | 0.2095 |  | Prepaid Exp | $ | 141 |  | $ | — |  | $ | 141 |
| € | 53,950 |  | £ | 47,868 |  | 0.8873 |  | (Accrued Exp) | — |  | (518 | ) | (518 | )
| £ | 30,000 |  | C$ | 54,038 |  | 1.8013 |  | Prepaid Exp | 2,484 |  | — |  | 2,484 |
| U.S.$ | 77,079 |  | £ | 55,000 |  | 0.7136 |  | (Accrued Exp) | — |  | (5,097 | ) | (5,097 | )
| A$ | 10,000 |  | £ | 5,631 |  | 0.5631 |  | (Accrued Exp) | — |  | (64 | ) | (64 | )
Economic hedges for which hedge accounting was not elected: |  |  |  |
Diesel contracts |  | Fixed on 2.3M – 3.0M gal per month |  |  | Float on 2.3M – 3.0M gal per month |  | N/A |  | Prepaid Exp | 6,864 |  | — |  | 6,864 |
Intercompany billings in Europe, primarily merchandise related |  |  |  |  |
| € | 76,000 |  | £ | 67,192 |  | 0.8841 |  | (Accrued Exp) | — |  | (672 | ) | (672 | )
Merchandise purchase commitments |  |  |  |  |
| C$ | 621,719 |  | U.S.$ | 481,300 |  | 0.7741 |  | Prepaid Exp / (Accrued Exp) | 4,913 |  | (2,940 | ) | 1,973 |
| C$ | 35,433 |  | € | 23,000 |  | 0.6491 |  | (Accrued Exp) | — |  | (610 | ) | (610 | )
| £ | 351,964 |  | U.S.$ | 488,400 |  | 1.3876 |  | Prepaid Exp | 28,329 |  | — |  | 28,329 |
| U.S.$ | 3,274 |  | £ | 2,475 |  | 0.7560 |  | (Accrued Exp) |  | (49 | ) | (49 | )
| A$ | 33,867 |  | U.S.$ | 25,327 |  | 0.7478 |  | Prepaid Exp / (Accrued Exp) | 229 |  | (16 | ) | 213 |
| zł | 355,038 |  | £ | 72,479 |  | 0.2041 |  | (Accrued Exp) | — |  | (1,889 | ) | (1,889 | )
| U.S.$ | 74,329 |  | € | 61,929 |  | 0.8332 |  | (Accrued Exp) | — |  | (2,336 | ) | (2,336 | )
Total fair value of derivative financial instruments |  |  | $ | 42,960 |  | $ | (14,191 | ) | $ | 28,769 |
The following is a summary of TJX’s derivative financial instruments, related fair value and balance sheet classification at February 3, 2018:
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 February 3, 2018
Fair value hedges: |  |  |  |  |  |  |  |
Intercompany balances, primarily debt and related interest |  |  |  |
| zł | 67,000 |  | £ | 14,035 |  | 0.2095 |  | (Accrued Exp) | $ | — |  | $ | (45 | ) | $ | (45 | )
| € | 51,950 |  | £ | 46,095 |  | 0.8873 |  | (Accrued Exp) | — |  | (318 | ) | (318 | )
| U.S.$ | 77,079 |  | £ | 55,000 |  | 0.7136 |  | Prepaid Exp | 1,636 |  | — |  | 1,636 |
Economic hedges for which hedge accounting was not elected: |  |  |
Diesel contracts |  |  |  |  |  |  |  |
|  | Fixed on 2.2M – 3.0M gal per month |  | Float on 2.2M– 3.0M gal per month | N/A |  | Prepaid Exp | 7,854 |  | — |  | 7,854 |
Intercompany billings in TJX Europe, primarily merchandise related |  |  |
| € | 26,000 |  | £ | 22,948 |  | 0.8826 |  | (Accrued Exp) | — |  | (2 | ) | (2 | )
Merchandise purchase commitments |  |  |  |
| C$ | 462,464 |  | U.S.$ | 367,200 |  | 0.7940 |  | Prepaid Exp / (Accrued Exp) | 49 |  | (5,478 | ) | (5,429 | )
| C$ | 22,562 |  | € | 15,000 |  | 0.6648 |  | Prepaid Exp | 557 |  | — |  | 557 |
| £ | 176,911 |  | U.S.$ | 238,000 |  | 1.3453 |  | Prepaid Exp / (Accrued Exp) | 173 |  | (12,838 | ) | (12,665 | )
| zł | 288,646 |  | £ | 60,023 |  | 0.2079 |  | (Accrued Exp) | — |  | (1,303 | ) | (1,303 | )
| A$ | 28,635 |  | U.S.$ | 22,230 |  | 0.7763 |  | Prepaid Exp / (Accrued Exp) | 43 |  | (573 | ) | (530 | )
| U.S.$ | 44,223 |  | € | 36,950 |  | 0.8355 |  | Prepaid Exp | 1,905 |  | — |  | 1,905 |
Total fair value of financial instruments |  | $ | 12,217 |  | $ | (20,557 | ) | $ | (8,340 | )
The following is a summary of TJX’s derivative financial instruments, related fair value and balance sheet classification at July 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 July 29, 2017
Fair value hedges: |  |  |  |  |  |  |  |
Intercompany balances, primarily debt and related interest |  |  |
|  | zł | 67,000 |  | £ | 13,000 |  | 0.1940 |  | (Accrued Exp) | $ | — |  | $ | (1,326 | ) | $ | (1,326 | )
|  | € | 69,200 |  | £ | 59,813 |  | 0.8643 |  | (Accrued Exp) | — |  | (3,044 | ) | (3,044 | )
|  | U.S.$ | 68,445 |  | £ | 55,000 |  | 0.8036 |  | Prepaid Exp | 4,174 |  | — |  | 4,174 |
|  | A$ | 40,000 |  | $ | 23,781 |  | 0.5945 |  | (Accrued Exp) | — |  | (676 | ) | (676 | )
Economic hedges for which hedge accounting was not elected: |  |  |
Diesel contracts |  |  |  |  |  |  |
|  |  | Fixed on 2.0M – 2.5M gal per month |  | Float on 2.0M – 2.5M gal per month |  | N/A |  | Prepaid Exp | 544 |  | — |  | 544 |
Intercompany billings in Europe, primarily merchandise related |  |  |
|  | € | 54,000 |  | £ | 47,790 |  | 0.8850 |  | (Accrued Exp) | — |  | (730 | ) | (730 | )
Merchandise purchase commitments |  |  |
|  | C$ | 571,142 |  | U.S.$ | 430,600 |  | 0.7539 |  | (Accrued Exp) | — |  | (29,261 | ) | (29,261 | )
|  | C$ | 33,086 |  | € | 22,500 |  | 0.6800 |  | Prepaid Exp / (Accrued Exp) | 218 |  | (361 | ) | (143 | )
|  | £ | 252,400 |  | U.S.$ | 324,000 |  | 1.2837 |  | (Accrued Exp) | — |  | (8,417 | ) | (8,417 | )
|  | A$ | 26,492 |  | U.S.$ | 20,266 |  | 0.7650 |  | (Accrued Exp) | — |  | (895 | ) | (895 | )
|  | zł | 326,370 |  | £ | 66,993 |  | 0.2053 |  | (Accrued Exp) | — |  | (1,917 | ) | (1,917 | )
|  | U.S.$ | 2,284 |  | £ | 1,787 |  | 0.7824 | Prepaid Exp | 65 |  | — |  | 65 |
|  | U.S.$ | 74,175 |  | € | 66,313 |  | 0.8940 |  | Prepaid Exp | 3,957 |  | — |  | 3,957 |
Total fair value of financial instruments |  |  | $ | 8,958 |  | $ | (46,627 | ) | $ | (37,669 | )
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 |  | Amount of Gain (Loss) Recognized in Income by Derivative
|  |  |  | Thirteen Weeks Ended |  | Twenty-Six Weeks Ended
In thousands |  | Location of Gain (Loss) Recognized in Income by Derivative |  | August 4, 2018 |  | July 29, 2017 |  | August 4, 2018 |  | July 29, 2017
Fair value hedges: |  |  |  |  |  |  |  |  |  |
Intercompany balances, primarily debt and related interest |  | Selling, general and administrative expenses |  | $ | (2,418 | ) |  | $ | (5,591 | ) |  | $ | (4,210 | ) |  | $ | (2,366 | )
Economic hedges for which hedge accounting was not elected: |  |  |  |  |  |  |  |
Intercompany receivable |  | Selling, general and administrative expenses |  | 18,823 |  |  | — |  |  | 18,823 |  |  | — |
Diesel fuel contracts |  | Cost of sales, including buying and occupancy costs |  | 1,005 |  |  | 2,006 |  |  | 5,958 |  |  | (1,317 | )
Intercompany billings in Europe, primarily merchandise related |  | Cost of sales, including buying and occupancy costs |  | (576 | ) |  | (5,045 | ) |  | (694 | ) |  | (3,444 | )
Merchandise purchase commitments |  | Cost of sales, including buying and occupancy costs |  | 21,171 |  |  | (44,098 | ) |  | 52,628 |  |  | (34,165 | )
Gain / (loss) recognized in income |  |  |  | $ | 38,005 |  |  | $ | (52,728 | ) |  | $ | 72,505 |  |  | $ | (41,292 | )

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