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Financial Instruments (Tables) | 3 Months Ended
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May 02, 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 May 2, 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 May 2,2020
Fair value hedges: |  |  |  |  |  |  |  |  |
Intercompany balances, primarily debt and related interest: |  |  |  |  |  |  |  |  |
| zł | 65,000 |  | £ | 12,780 |  | 0.1966 |  | Prepaid Exp | $ | 351 |  | $ | — |  | $ | 351 |
| € | 60,000 |  | £ | 53,412 |  | 0.8902 |  | Prepaid Exp | 437 |  | — |  | 437 |
| A$ | 110,000 |  | U.S.$ | 70,802 |  | 0.6437 |  | Prepaid Exp / (Accrued Exp) | 1,788 |  | (1,656) |  | 132 |
| U.S.$ | 72,475 |  | £ | 55,000 |  | 0.7589 |  | (Accrued Exp) | — |  | (3,744) |  | (3,744) |
| £ | 200,000 |  | U.S.$ | 249,499 |  | 1.2475 |  | Prepaid Exp / (Accrued Exp) | 999 |  | (2,332) |  | (1,333) |
| C$ | 350,000 |  | U.S.$ | 248,821 |  | 0.7109 |  | Prepaid Exp / (Accrued Exp) | 640 |  | (478) |  | 162 |
Economic hedges for which hedge accounting was not elected: |  |  |  |  |  |  |  |  |
| 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) | — |  | (30,167) |  | (30,167) |
Intercompany billings in TJX International, primarily merchandise related: |  |  |  |  |  |  |  |  |
| € | 49,100 |  | £ | 43,144 |  | 0.8787 |  | Prepaid Exp | — |  | (65) |  | (65) |
Merchandise purchase commitments: |  |  |  |  |  |  |  |  |
| C$ | 77,979 |  | U.S.$ | 59,200 |  | 0.7592 |  | Prepaid Exp | 3,819 |  | — |  | 3,819 |
| £ | 63,618 |  | U.S.$ | 82,200 |  | 1.2921 |  | Prepaid Exp | 2,469 |  | — |  | 2,469 |
| A$ | 17,438 |  | U.S.$ | 11,780 |  | 0.6755 |  | Prepaid Exp | 578 |  | — |  | 578 |
| zł | 69,400 |  | £ | 13,880 |  | 0.2000 |  | Prepaid Exp | 666 |  | — |  | 666 |
| U.S.$ | 30,651 |  | € | 27,588 |  | 0.9001 |  | Prepaid Exp / (Accrued Exp) | 30 |  | (404) |  | (374) |
Total fair value of derivative financial instruments |  |  |  |  |  |  | $ | 11,777 |  | $ | (38,846) |  | $ | (27,069) |
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 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 derivative 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 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 fuel 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 |
Impact of Derivative Financial Instruments on Statements of (Loss) Income | Presented below is the impact of derivative financial instruments on the Consolidated Statements of (Loss) 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 |
In thousands |  |  |  | May 2, 2020 | May 4, 2019
Fair value hedges: |  |  |  |  |
Intercompany balances, primarily debt and related interest | Selling, general and administrative expenses |  |  | $ | (5,173) |  | $ | 3,633 |
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 |  |  | (22,854) |  | 3,687 |
Intercompany billings in TJX International, primarily merchandise related | Cost of sales, including buying and occupancy costs |  |  | (1,852) |  | 2,151 |
International lease liabilities | Cost of sales, including buying and occupancy costs |  |  | — |  | (1,522) |
Merchandise purchase commitments | Cost of sales, including buying and occupancy costs |  |  | 50,135 |  | 9,789 |
Gain recognized in (loss) / income |  |  |  | $ | 20,256 |  | $ | 20,995 |

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