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Financial Instruments (Tables)
 6 Months Ended
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
)