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Stock Incentive Plan (Tables)

12 Months Ended

Jan. 30, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of options is estimated as of the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions:

			Fiscal Year Ended
			January 30, 2021			February 1, 2020			February 2, 2019
Risk-free interest rate			0.28		%	1.65		%	2.88		%
Dividend yield(a)			1.4		%	1.6		%	1.4		%
Expected volatility factor			26.5		%	23.4		%	23.5		%
Expected option life			5.0 years			4.9 years			4.9 years
Weighted average fair value of options issued			$	11.29		$	10.84		$	11.85

(a)The reduction in the yield reflects the temporary suspension of dividends due to the COVID-19 pandemic. TJX calculated an implied dividend yield of 1.4% by anticipating dividends to resume. The decrease in expected dividend yield reflects the suspension of dividend payments during the first nine months of fiscal 2021.

Schedule of Stock Options and Related Weighted Average Exercise Prices

A summary of the status of TJX’s stock options and related weighted average exercise prices (“WAEP”) is presented below:

			Fiscal Year Ended
Shares in thousands			January 30, 2021						February 1, 2020						February 2, 2019
			Options			WAEP			Options			WAEP			Options			WAEP
Outstanding at beginning of year			45,065			$	36.81		49,053			$	32.02		55,260			$	27.52
Granted			6,268			57.32			6,150			56.74			6,143			53.98
Exercised			(8,239)			25.68			(9,518)			24.40			(11,670)			21.88
Forfeitures			(490)			52.96			(620)			46.37			(680)			38.59
Outstanding at end of year			42,604			$	41.79		45,065			$	36.81		49,053			$	32.02
Options exercisable at end of year			30,659			$	36.05		32,276			$	31.04		34,344			$	26.95

Schedule of Stock Options Outstanding Expected to Vest and Stock Options Outstanding Exercisable

The following table summarizes information about stock options outstanding that were expected to vest and stock options outstanding that were exercisable as of January 30, 2021:

			Shares (in thousands)			Aggregate Intrinsic Value (in thousands)			Weighted Average Remaining Contract Life			WAEP
Options outstanding expected to vest(a)			11,060			$	82,510		9.0 years			$	56.58
Options exercisable			30,659			$	858,015		5.0 years			$	36.05
Total outstanding options vested and expected to vest			41,719			$	940,525		6.1 years			$	41.50

(a)Reflects 11.9 million unvested options, net of anticipated forfeitures.

Summary of Nonvested Performance-Based Stock Awards

A summary of the status of our nonvested stock awards and changes during fiscal 2021 is presented below:

			Stock Awards (in thousands)			Weighted Average Grant Date Fair Value
Nonvested at beginning of year			3,445			$	44.54
Granted			857			56.24
Vested			(1,317)			43.25
Forfeited			(14)			48.04
Modification			(50)			52.17
Nonvested at end of year			2,921			51.36

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Tabular disclosure of the changes in outstanding nonvested performance-based units.

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Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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