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Financial Instruments (Tables) | 3 Months Ended
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May 04, 2019
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 May 4, 2019:
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 May 4, 2019
Fair value hedges: |  |  |  |  |  |  |
Intercompany balances, primarily debt and related interest |  |  |  |
| zł | 59,000 |  | £ | 12,021 |  | 0.2037 |  | Prepaid Exp | $ | 451 |  | $ | — |  | $ | 451 |
| € | 55,950 |  | £ | 49,560 |  | 0.8858 |  | Prepaid Exp | 2,160 |  | — |  | 2,160 |
| A$ | 30,000 |  | U.S.$ | 21,228 |  | 0.7076 |  | Prepaid Exp | 47 |  | — |  | 47 |
| U.S.$ | 72,020 |  | £ | 55,000 |  | 0.7637 |  | Prepaid Exp | 1,261 |  | — |  | 1,261 |
Economic hedges for which hedge accounting was not elected: |  |  |  |
Diesel contracts | Fixed on 2.4M – 3.3M gal per month |  |  | Float on 2.4M – 3.3M gal per month |  | N/A |  | (Accrued Exp) | — |  | (299 | ) | (299 | )
Intercompany billings in TJX International, primarily merchandise related: |  |  |
| € | 71,600 |  | £ | 61,777 |  | 0.8628 |  | Prepaid Exp | 1,163 |  | — |  | 1,163 |
Lease liability in TJX International: |  |  |
| zł | 690,366 |  | € | 160,851 |  | 0.2330 |  | (Accrued Exp) | — |  | (473 | ) | (473 | )
Merchandise purchase commitments: |  |  |  |  |
| C$ | 620,729 |  | U.S.$ | 466,600 |  | 0.7517 |  | Prepaid Exp / (Accrued Exp) | 3,814 |  | (633 | ) | 3,181 |
| C$ | 27,377 |  | € | 18,050 |  | 0.6593 |  | (Accrued Exp) | — |  | (142 | ) | (142 | )
| £ | 293,928 |  | U.S.$ | 387,400 |  | 1.3180 |  | Prepaid Exp / (Accrued Exp) | 883 |  | (2,661 | ) | (1,778 | )
| A$ | 44,708 |  | U.S.$ | 32,064 |  | 0.7172 |  | Prepaid Exp | 602 |  | — |  | 602 |
| zł | 359,743 |  | £ | 72,401 |  | 0.2013 |  | Prepaid Exp / (Accrued Exp) | 1,430 |  | (88 | ) | 1,342 |
| U.S.$ | 55,559 |  | € | 48,467 |  | 0.8724 |  | (Accrued Exp) | — |  | (977 | ) | (977 | )
Total fair value of derivative financial instruments |  |  | $ | 11,811 |  | $ | (5,273 | ) | $ | 6,538 |
The following is a summary of TJX’s derivative financial instruments, related fair value and balance sheet classification at February 2, 2019:
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 2, 2019
Fair value hedges: |  |  |  |  |  |  |  |
Intercompany balances, primarily debt and related interest: |  |  |  |
| zł | 59,000 |  | £ | 12,021 |  | 0.2037 |  | Prepaid Exp | $ | 56 |  | $ | — |  | $ | 56 |
| € | 55,950 |  | £ | 49,560 |  | 0.8858 |  | Prepaid Exp / (Accrued Exp) | 126 |  | (140 | ) | (14 | )
| A$ | 30,000 |  | U.S.$ | 21,483 |  | 0.7161 |  | (Accrued Exp) | — |  | (314 | ) | (314 | )
| U.S.$ | 72,020 |  | £ | 55,000 |  | 0.7637 |  | Prepaid Exp | 1,037 |  | — |  | 1,037 |
Economic hedges for which hedge accounting was not elected: |  |  |
Diesel contracts | Fixed on 2.7M – 3.3M gal per month |  | Float on 2.7M– 3.3M gal per month | N/A |  | (Accrued Exp) | — |  | (3,786 | ) | (3,786 | )
Intercompany billings in TJX International, primarily merchandise related: |  |  |
| € | 46,600 |  | £ | 41,835 |  | 0.8977 |  | Prepaid Exp | 1,300 |  | — |  | 1,300 |
Merchandise purchase commitments: |  |  |  |
| C$ | 546,083 |  | U.S.$ | 414,100 |  | 0.7583 |  | Prepaid Exp / (Accrued Exp) | 1,239 |  | (4,741 | ) | (3,502 | )
| C$ | 31,455 |  | € | 20,700 |  | 0.6581 |  | (Accrued Exp) | — |  | (248 | ) | (248 | )
| £ | 173,624 |  | U.S.$ | 230,000 |  | 1.3247 |  | Prepaid Exp / (Accrued Exp) | 3,459 |  | (1,466 | ) | 1,993 |
| zł | 280,167 |  | £ | 57,586 |  | 0.2055 |  | Prepaid Exp / (Accrued Exp) | 707 |  | (86 | ) | 621 |
| A$ | 51,043 |  | U.S.$ | 36,961 |  | 0.7241 |  | Prepaid Exp / (Accrued Exp) | 97 |  | (213 | ) | (116 | )
| U.S.$ | 56,847 |  | € | 49,355 |  | 0.8682 |  | Prepaid Exp / (Accrued Exp) | 115 |  | (207 | ) | (92 | )
Total fair value of derivative financial instruments |  | $ | 8,136 |  | $ | (11,201 | ) | $ | (3,065 | )
The following is a summary of TJX’s derivative financial instruments, related fair value and balance sheet classification at May 5, 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 May 5, 2018
Fair value hedges: |  |  |  |  |  |  |  |
Intercompany balances, primarily debt and related interest |  |  |
|  | zł | 67,000 |  | £ | 14,035 |  | 0.2095 |  | Prepaid Exp | $ | 247 |  | $ | — |  | $ | 247 |
|  | € | 53,950 |  | £ | 47,868 |  | 0.8873 |  | (Accrued Exp) | — |  | (252 | ) | (252 | )
|  | £ | 30,000 |  | C$ | 54,038 |  | 1.8013 |  | Prepaid Exp | 1,256 |  | — |  | 1,256 |
|  | U.S.$ | 77,079 |  | £ | 55,000 |  | 0.7136 |  | (Accrued Exp) | — |  | (1,771 | ) | (1,771 | )
Net Investment Hedges: |  |  |
|  | C$ | 1,710,000 |  | U.S.$ | 1,341,426 |  | 0.7845 |  | Prepaid Exp / (Accrued Exp) | 9,808 |  | (1,563 | ) | 8,245 |
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 | 10,249 |  | — |  | 10,249 |
Intercompany billings in TJX International, primarily merchandise related: |  |  |
|  | € | 50,000 |  | £ | 43,340 |  | 0.8668 |  | (Accrued Exp) | — |  | (1,205 | ) | (1,205 | )
Merchandise purchase commitments: |  |  |
|  | C$ | 518,624 |  | U.S.$ | 409,350 |  | 0.7893 |  | Prepaid Exp / (Accrued Exp) | 5,322 |  | (422 | ) | 4,900 |
|  | C$ | 25,760 |  | € | 16,500 |  | 0.6405 |  | Prepaid Exp / (Accrued Exp) | 82 |  | (360 | ) | (278 | )
|  | £ | 333,666 |  | U.S.$ | 469,400 |  | 1.4068 |  | Prepaid Exp / (Accrued Exp) | 15,418 |  | (594 | ) | 14,824 |
|  | A$ | 30,728 |  | U.S.$ | 23,772 |  | 0.7736 |  | Prepaid Exp / (Accrued Exp) | 602 |  | (30 | ) | 572 |
|  | zł | 299,988 |  | £ | 62,531 |  | 0.2084 |  | Prepaid Exp / (Accrued Exp) | 560 |  | (235 | ) | 325 |
|  | U.S.$ | 41,644 |  | € | 33,611 |  | 0.8071 |  | Prepaid Exp / (Accrued Exp) | 23 |  | (1,243 | ) | (1,220 | )
Total fair value of derivative financial instruments |  |  | $ | 43,567 |  | $ | (7,675 | ) | $ | 35,892 |
Impact of Derivative Financial Instruments on Statements of Income | Presented below is the impact of derivative financial instruments on the Consolidated Statements of Income for the periods shown:
|  |  |  | Amount of Gain (Loss) Recognized in Income by Derivative
|  |  |  | Thirteen Weeks Ended
In thousands |  | Location of Gain (Loss) Recognized in Income by Derivative |  | May 4, 2019 |  | May 5, 2018
Fair value hedges: |  |  |  |  |  |
Intercompany balances, primarily debt and related interest |  | Selling, general and administrative expenses |  | $ | 3,633 |  |  | $ | (1,792 | )
Economic hedges for which hedge accounting was not elected: |  |  |  |
Intercompany receivable |  | Selling, general and administrative expenses |  | 3,257 |  |  | — |
Diesel fuel contracts |  | Cost of sales, including buying and occupancy costs |  | 3,687 |  |  | 4,953 |
Intercompany billings in TJX International, primarily merchandise related |  | Cost of sales, including buying and occupancy costs |  | 2,151 |  |  | (118 | )
International lease liabilities |  | Cost of sales, including buying and occupancy costs |  | (1,522 | ) |  | — |
Merchandise purchase commitments |  | Cost of sales, including buying and occupancy costs |  | 9,789 |  |  | 31,457 |
Gain / (loss) recognized in income |  |  |  | $ | 20,995 |  |  | $ | 34,500 |

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