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Financial Instruments (Tables)
 6 Months Ended
Aug. 03, 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 August 3, 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
August 3, 2019
Fair value hedges:
 
 
 
 
 
 
 
Intercompany balances, primarily debt and related interest:
 
 
 
 
zł
64,000

£
13,055

0.2040

(Accrued Exp)
$
—

$
(585
)
$
(585
)
 
€
55,950

£
49,560

0.8858

(Accrued Exp)
—

(2,208
)
(2,208
)
 
A$
40,000

U.S.$
28,249

0.7062

Prepaid Exp
944

—

944

 
U.S.$
72,020

£
55,000

0.7637

(Accrued Exp)
—

(4,785
)
(4,785
)
Economic hedges for which hedge accounting was not elected:
 
 
 
 
Diesel fuel contracts
Fixed on 2.7M – 3.3M gal per month
 
Float on 2.7M – 3.3M gal per month
N/A

(Accrued Exp)
—

(6,575
)
(6,575
)
Intercompany billings in TJX International, primarily merchandise related:
 
 
 
€
89,000

£
80,029

0.8992

(Accrued Exp)
—

(1,687
)
(1,687
)
Lease liability in TJX International:
 
 
 
 
zł
330,044

€
77,479

0.2348

Prepaid Exp
866

—

866

Merchandise purchase commitments:
 
 
 
 
 
 
C$
702,924

U.S.$
529,750

0.7536

Prepaid Exp / (Accrued Exp)
1,323

(4,800
)
(3,477
)
 
C$
38,119

€
25,400

0.6663

(Accrued Exp)
—

(592
)
(592
)
 
£
313,490

U.S.$
403,600

1.2874

Prepaid Exp / (Accrued Exp)
20,418

(12
)
20,406

 
A$
32,229

U.S.$
22,665

0.7032

Prepaid Exp
690

—

690

 
zł
418,012

£
85,810

0.2053

(Accrued Exp)
—

(3,267
)
(3,267
)
 
U.S.$
3,834

£
3,052

0.7960

(Accrued Exp)
—

(120
)
(120
)
 
U.S.$
79,010

€
69,427

0.8787

(Accrued Exp)
—

(1,567
)
(1,567
)
Total fair value of derivative financial instruments
 
$
24,241

$
(26,198
)
$
(1,957
)

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 fuel 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 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 fuel 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 TJX International, 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
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
 
 Location of Gain (Loss)
Recognized in Income by
Derivative
Thirteen Weeks Ended
Twenty-Six Weeks Ended
In thousands
August 3,
2019
August 4,
2018
August 3,
2019
August 4,
2018
Fair value hedges:
 
 
 
 
 
Intercompany balances, primarily debt and related interest
Selling, general and administrative expenses
$
(10,345
)
$
(2,418
)
$
(6,712
)
$
(4,210
)
Economic hedges for which hedge accounting was not elected:
 
 
 
Intercompany receivable
Selling, general and administrative expenses
—

18,823

3,257

18,823

Diesel fuel contracts
Cost of sales, including buying and occupancy costs
(6,319
)
1,005

(2,632
)
5,958

Intercompany billings in TJX International, primarily merchandise related
Cost of sales, including buying and occupancy costs
(6,351
)
(576
)
(4,200
)
(694
)
International lease liabilities
Cost of sales, including buying and occupancy costs
108

—

(1,414
)
—

Merchandise purchase commitments
Cost of sales, including buying and occupancy costs
17,369

21,171

27,158

52,628

Gain / (loss) recognized in income
$
(5,538
)
$
38,005

$
15,457

$
72,505