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Segment Information

9 Months Ended

Nov. 03, 2018

Segment Reporting [Abstract]

Segment Information

Segment Information

TJX operates four main business segments. The Marmaxx segment (T.J. Maxx, Marshalls and tjmaxx.com) and the HomeGoods segment (HomeGoods and Homesense) both operate in the United States, the TJX Canada segment operates Winners, HomeSense and Marshalls in Canada, and the TJX International segment operates T.K. Maxx, Homesense and tkmaxx.com in Europe and T.K. Maxx in Australia. We also operate Sierra Trading Post (“STP”), an off-price retailer that includes sierratradingpost.com along with a number of retail stores in the U.S. We currently consider all of STP as part of our e-commerce operations. The results of STP are included in the Marmaxx segment.

All of TJX’s stores, with the exception of HomeGoods and Homesense, sell family apparel and home fashions. HomeGoods and Homesense offer home fashions.

TJX evaluates the performance of its segments based on “segment profit or loss,” which it defines as pre-tax income or loss before general corporate expense, pension settlement charge and interest expense, net. “Segment profit or loss,” as defined by TJX, may not be comparable to similarly titled measures used by other entities. The terms “segment margin” or “segment profit margin” are used to describe segment profit or loss as a percentage of net sales. These measures of performance should not be considered alternatives to net income or cash flows from operating activities as an indicator of TJX’s performance or as a measure of liquidity.

Presented below is financial information with respect to TJX’s business segments:

		Thirteen Weeks Ended								Thirty-Nine Weeks Ended
In thousands		November 3, 2018				October 28, 2017				November 3, 2018				October 28, 2017
Net sales:
In the United States:
Marmaxx		$	5,973,476			$	5,298,479			$	17,202,115			$	15,550,253
HomeGoods		1,463,892				1,228,768				4,060,569				3,506,435
TJX Canada		1,036,884				983,236				2,828,456				2,554,033
TJX International		1,351,507				1,251,737				3,754,454				3,293,223
		$	9,825,759			$	8,762,220			$	27,845,594			$	24,903,944
Segment profit:
In the United States:
Marmaxx		$	762,911			$	666,092			$	2,343,682			$	2,100,138
HomeGoods		166,090				163,835				455,540				457,272
TJX Canada		182,170				206,472				446,089				392,581
TJX International		102,432				87,066				191,949				132,893
		1,213,603				1,123,465				3,437,260				3,082,884
General corporate expense		127,775				95,484				396,140				311,177
Pension settlement charge		36,122				—				36,122				—
Interest expense, net		3,188				7,981				10,365				27,499
Income before provision for income taxes		$	1,046,518			$	1,020,000			$	2,994,633			$	2,744,208

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- References

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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