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Financial Instruments (Tables)

12 Months Ended

Feb. 01, 2020

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 February 1, 2020:

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 1, 2020
Fair value hedges:
Intercompany balances, primarily debt and related interest:
			zł			45,000			£			8,930			0.1984			Prepaid Exp			$	270		$	—		$	270
			A$			50,000			U.S.$			33,911			0.6782			Prepaid Exp			275			—			275
			U.S.$			72,475			£			55,000			0.7589			Prepaid Exp			743			—			743
Economic hedges for which hedge accounting was not elected:
Diesel contracts			Diesel fuel contracts			Fixed on 2.9M - 3.5M gal per month						Float on 2.9M - 3.5M gal per month			N/A			(Accrued Exp)			—			(9,927)			(9,927)
Intercompany billings in TJX International, primarily merchandise related:
			€			58,700			£			49,848			0.8492			Prepaid Exp			655			—			655
Merchandise purchase commitments:
			C$			609,340			U.S.$			463,200			0.7602			Prepaid Exp / (Accrued Exp)			2,877			(207)			2,670
			C$			37,051			€			25,200			0.6801			Prepaid Exp / (Accrued Exp)			61			(44)			17
			£			265,653			U.S.$			341,880			1.2869			Prepaid Exp / (Accrued Exp)			11			(9,792)			(9,781)
			zł			362,700			£			72,217			0.1991			Prepaid Exp			1,903			—			1,903
			A$			29,400			U.S.$			20,151			0.6854			Prepaid Exp			435			—			435
			U.S.$			49,849			€			44,635			0.8954			Prepaid Exp / (Accrued Exp)			10			(235)			(225)
Total fair value of financial instruments																																	$	7,240		$	(20,205)		$	(12,965)

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 financial instruments																																	$	8,136		$	(11,201)		$	(3,065)

Impact of Derivative Financial Instruments on Statements of Income

The impact of derivative financial instruments on the Consolidated Statements of Income during fiscal 2020, fiscal 2019 and fiscal 2018 are as follows:

						Amount of Gain (Loss) Recognized in Income by Derivative
In thousands			Location of Gain (Loss) Recognized in Income by Derivative			February 1, 2020			February 2, 2019			February 3, 2018
												(53 weeks)
Fair value hedges:
Intercompany balances, primarily debt and related interest			Selling, general and administrative expenses			$	4,788		$	(2,674)		$	1,207
Economic hedges for which hedge accounting was not elected:
Intercompany receivable			Selling, general and administrative expenses			3,257			18,823			—
Diesel fuel contracts			Cost of sales, including buying and occupancy costs			(9,780)			1,373			7,946
Intercompany billings in TJX International, primarily merchandise related			Cost of sales, including buying and occupancy costs			2,652			1,137			(3,042)
International lease liabilities			Cost of sales, including buying and occupancy costs			(1,113)			—			—
Merchandise purchase commitments			Cost of sales, including buying and occupancy costs			10,484			60,407			(45,886)
Gain (loss) recognized in income									$	10,288		$	79,066		$	(39,775)

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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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-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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-Name Accounting Standards Codification
-Topic 815
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-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

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- Definition

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
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