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Financial Instruments (Tables)

9 Months Ended

Nov. 03, 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 November 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 November 3, 2018
Fair value hedges:
Intercompany balances, primarily debt and related interest
	zł	62,000		£	12,983		0.2094		Prepaid Exp	$	475		$	—		$	475
	€	48,950		£	43,612		0.8909		Prepaid Exp	626			—			626
	A$	30,000		U.S.$	21,207		0.7069		(Accrued Exp)	—			(429		)	(429		)
	U.S.$	77,079		£	55,000		0.7136		(Accrued Exp)	—			(5,545		)	(5,545		)
Economic hedges for which hedge accounting was not elected:
Diesel contracts		Fixed on 1.3M – 3.0M gal per month			Float on 1.3M – 3.0M gal per month		N/A		Prepaid Exp	4,965			—			4,965
Intercompany billings in Europe, primarily merchandise related
	€	82,000		£	71,853		0.8763		(Accrued Exp)	—			(231		)	(231		)
Merchandise purchase commitments
	C$	582,670		U.S.$	447,800		0.7685		Prepaid Exp / (Accrued Exp)	3,216			(543		)	2,673
	C$	29,614		€	19,500		0.6585		Prepaid Exp / (Accrued Exp)	4			(342		)	(338		)
	£	271,690		U.S.$	369,500		1.3600		Prepaid Exp / (Accrued Exp)	15,585			(132		)	15,453
	U.S.$	2,692		£	2,067		0.7678		Prepaid Exp / (Accrued Exp)	15			(28		)	(13		)
	A$	45,132		U.S.$	32,962		0.7303		Prepaid Exp / (Accrued Exp)	441			(21		)	420
	zł	289,208		£	59,158		0.2046		Prepaid Exp / (Accrued Exp)	744			(373		)	371
	U.S.$	67,459		€	57,065		0.8459		(Accrued Exp)	—			(2,235		)	(2,235		)
Total fair value of derivative financial instruments										$	26,071		$	(9,879	)	$	16,192

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 October 28, 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  October 28, 2017
Fair value hedges:
Intercompany balances, primarily debt and related interest
		zł	67,000		£	13,000		0.1940		(Accrued Exp)	$	—		$	(1,211	)	$	(1,211	)
		€	49,950		£	43,317		0.8672		Prepaid Exp /(Accrued Exp)	277			(1,600		)	(1,323		)
		U.S.$	68,445		£	55,000		0.8036		Prepaid Exp	3,849			—			3,849
Economic hedges for which hedge accounting was not elected:
Diesel contracts
			Fixed on 250K – 2.5M gal per month			Float on 250K – 2.5M gal per month		N/A		Prepaid Exp	5,226			—			5,226
Intercompany billings in Europe, primarily merchandise related
		€	27,000		£	24,062		0.8912		Prepaid Exp	202						202
Merchandise purchase commitments
		C$	511,004		U.S.$	399,650		0.7821		Prepaid Exp / (Accrued Exp)	5,023			(4,770		)	253
		C$	25,305		€	17,000		0.6718		Prepaid Exp / (Accrued Exp)	63			(62		)	1
		£	163,682		U.S.$	214,000		1.3074		Prepaid Exp / (Accrued Exp)	678			(2,298		)	(1,620		)
		A$	27,187		U.S.$	21,351		0.7853		Prepaid Exp	467			—			467
		zł	313,150		£	65,249		0.2084		Prepaid Exp / (Accrued Exp)	580			(350		)	230
		U.S.$	2,928		£	2,245		0.7667		Prepaid Exp	16			—			16
		U.S.$	68,723		€	58,859		0.8565		Prepaid Exp / (Accrued Exp)	729			(989		)	(260		)
Total fair value of financial instruments											$	17,110		$	(11,280	)	$	5,830

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								Thirty-Nine Weeks Ended
In thousands		Location of Gain (Loss) Recognized in Income by Derivative		November 3, 2018				October 28, 2017				November 3, 2018				October 28, 2017
Fair value hedges:
Intercompany balances, primarily debt and related interest		Selling, general and administrative expenses		$	672			$	(1,454	)		$	(3,538	)		$	(3,820	)
Economic hedges for which hedge accounting was not elected:
Intercompany receivable		Selling, general and administrative expenses		—				—				18,823				—
Diesel fuel contracts		Cost of sales, including buying and occupancy costs		1,572				4,947				7,530				3,630
Intercompany billings in Europe, primarily merchandise related		Cost of sales, including buying and occupancy costs		1,718				328				1,024				(3,116		)
Merchandise purchase commitments		Cost of sales, including buying and occupancy costs		8,463				13,336				61,091				(20,829		)
Gain / (loss) recognized in income				$	12,425			$	17,157			$	84,930			$	(24,135	)

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- 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/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
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