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Financial Instruments (Tables) | 6 Months Ended
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Aug. 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 August 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 August 1,2020
Fair value hedges: |  |  |  |  |  |  |  |  |
Intercompany balances, primarily debt and related interest: |  |  |  |  |  |  |  |  |
| zł | 65,000 |  | £ | 12,780 |  | 0.1966 |  | (Accrued Exp) | $ | — |  | $ | (628) |  | $ | (628) |
| € | 60,000 |  | £ | 53,412 |  | 0.8902 |  | (Accrued Exp) | — |  | (1,033) |  | (1,033) |
| A$ | 110,000 |  | U.S.$ | 70,802 |  | 0.6437 |  | (Accrued Exp) | — |  | (7,798) |  | (7,798) |
| U.S.$ | 72,475 |  | £ | 55,000 |  | 0.7589 |  | (Accrued Exp) | — |  | (448) |  | (448) |
| £ | 200,000 |  | U.S.$ | 249,499 |  | 1.2475 |  | (Accrued Exp) | — |  | (12,538) |  | (12,538) |
| C$ | 550,000 |  | U.S.$ | 390,766 |  | 0.7105 |  | (Accrued Exp) | — |  | (19,571) |  | (19,571) |
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) | — |  | (13,920) |  | (13,920) |
Intercompany billings in TJX International, primarily merchandise related: |  |  |  |  |  |  |  |  |
| € | 73,400 |  | £ | 65,678 |  | 0.8948 |  | (Accrued Exp) | — |  | (570) |  | (570) |
Merchandise purchase commitments: |  |  |  |  |  |  |  |  |
| C$ | 271,576 |  | U.S.$ | 201,700 |  | 0.7427 |  | Prepaid Exp / (Accrued Exp) | 737 |  | (1,647) |  | (910) |
| £ | 240,694 |  | U.S.$ | 304,800 |  | 1.2663 |  | Prepaid Exp / (Accrued Exp) | 34 |  | (10,415) |  | (10,381) |
| A$ | 40,156 |  | U.S.$ | 28,250 |  | 0.7035 |  | (Accrued Exp) | — |  | (447) |  | (447) |
| zł | 87,000 |  | £ | 18,059 |  | 0.2076 |  | Prepaid Exp | 419 |  | — |  | 419 |
| U.S.$ | 3,771 |  | € | 3,383 |  | 0.8971 |  | Prepaid Exp | 213 |  | — |  | 213 |
Total fair value of derivative financial instruments |  |  |  |  |  |  | $ | 1,403 |  | $ | (69,015) |  | $ | (67,612) |
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 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) |
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 |  | Twenty-Six Weeks Ended |
In thousands |  | August 1, 2020 | August 3, 2019 | August 1, 2020 | August 3, 2019
Fair value hedges: |  |  |  |  |
Intercompany balances, primarily debt and related interest | Selling, general and administrative expenses | $ | (38,060) |  | $ | (10,345) |  | $ | (43,233) |  | $ | (6,712) |
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 | 10,123 |  | (6,319) |  | (12,731) |  | (2,632) |
Intercompany billings in TJX International, primarily merchandise related | Cost of sales, including buying and occupancy costs | (2,039) |  | (6,351) |  | (3,891) |  | (4,200) |
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 | (15,808) |  | 17,369 |  | 34,327 |  | 27,158 |
Gain recognized in (loss) / income |  | $ | (45,784) |  | $ | (5,538) |  | $ | (25,528) |  | $ | 15,457 |

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