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Income Taxes (Tables)

12 Months Ended

Feb. 02, 2019

Income Tax Disclosure [Abstract]

Components of Income Before Income Taxes

For financial reporting purposes, components of income before income taxes are as follows:

	Fiscal Year Ended
In thousands	February 2, 2019			February 3, 2018			January 28, 2017
				(53 weeks)
United States	$	3,463,785		$	3,255,057		$	3,196,370
Foreign	$	709,426		$	601,531		$	526,673
Income before provision for income taxes	$	4,173,211		$	3,856,588		$	3,723,043

Provision for Income Taxes

The provision for income taxes includes the following:

	Fiscal Year Ended
In thousands	February 2, 2019			February 3, 2018			January 28, 2017
				(53 weeks)
Current:
Federal	$	711,369		$	1,063,141		$	1,068,778
State	251,187			160,650			213,505
Foreign	238,692			161,974			148,367
Deferred:
Federal	(62,278		)	(164,523		)	(3,107		)
State	(27,831		)	27,595			(10,583		)
Foreign	2,274			(197		)	7,849
Provision for income taxes	$	1,113,413		$	1,248,640		$	1,424,809

Net Deferred Tax (Liabilities) Assets

TJX had net deferred tax (liabilities) assets as follows:

	Fiscal Year Ended
In thousands	February 2, 2019			February 3, 2018
Deferred tax assets:
Net operating loss carryforward	$	49,489		$	40,088
Reserves for lease obligations	2,799			3,637
Pension, stock compensation, postretirement and employee benefits	273,482			232,887
Leases	45,740			42,999
Accruals and reserves	42,709			51,281
Other	65,776			25,599
Total gross deferred tax assets	$	479,995		$	396,491
Valuation allowance	(51,711		)	(42,332		)
Net deferred tax asset	$	428,284		$	354,159
Deferred tax liabilities:
Property, plant and equipment	$	497,906		$	437,621
Capitalized inventory	42,981			45,125
Tradename/intangibles	14,019			12,628
Undistributed foreign earnings	1,856			65,013
Other	23,246			20,271
Total deferred tax liabilities	$	580,008		$	580,658
Net deferred tax (liability)	$	(151,724	)	$	(226,499	)
Non-current asset	$	6,467		$	6,558
Non-current liability	(158,191		)	(233,057		)
Total	$	(151,724	)	$	(226,499	)

Reconciliation of U.S. Federal Statutory Income Tax Rate and Worldwide Effective Income Tax Rate

The difference between the U.S. federal statutory income tax rate and TJX’s worldwide effective income tax rate is reconciled below:

	Fiscal Year Ended
	February 2, 2019		February 3, 2018		January 28, 2017
			(53 weeks)
U.S. federal statutory income tax rate	21.0	%	33.7	%	35.0	%
Effective state income tax rate	4.5		3.6		3.5
Impact of foreign operations	1.2		(0.1	)	(0.2	)
Excess share-based compensation	(1.2	)	(1.3	)	—
Impact of 2017 Tax Act	1.5		(2.3	)	—
All other	(0.3	)	(1.2	)	—
Worldwide effective income tax rate	26.7	%	32.4	%	38.3	%

Reconciliation of Beginning and Ending Gross Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending gross amount of unrecognized tax benefits is as follows:

	Fiscal Year Ended
In thousands	February 2, 2019			February 3, 2018			January 28, 2017
Balance at beginning of year	$	61,704		$	49,092		$	43,326
Additions for uncertain tax positions taken in current year	7,406			6,504			7,018
Additions for uncertain tax positions taken in prior years	177,741			7,990			327
Reductions for uncertain tax positions taken in prior years	—			(587		)	(334		)
Reductions resulting from lapse of statute of limitations	(1,388		)	(1,295		)	(1,245		)
Settlements with tax authorities	(1,268		)	—			—
Balance at end of year	$	244,195		$	61,704		$	49,092

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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