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Capital Stock and Earnings Per Share
 12 Months Ended
Jan. 29, 2022
Equity [Abstract]  
Capital Stock and Earnings Per Share Capital Stock and Earnings Per Share
Capital Stock
During the second quarter of fiscal 2022, the Company lifted the temporary suspension of its previously authorized stock repurchase programs. TJX repurchased and retired 32 million shares of its common stock at a cost of approximately $2.2 billion during fiscal 2022, on a “trade date” basis. Prior to the suspension of the Company’s share repurchase program, during the first quarter of fiscal 2021, TJX repurchased and retired 3 million shares of its common stock at a cost of $0.2 billion on a “trade date” basis, and no shares were repurchased during the second quarter of fiscal 2021 through the first quarter of fiscal 2022.
TJX reflects stock repurchases in its consolidated financial statements on a “settlement date” or cash basis. TJX had cash expenditures under repurchase programs of $2.2 billion in fiscal 2022, $0.2 billion in fiscal 2021 and $1.6 billion in fiscal 2020 and repurchased 31 million shares in fiscal 2022, 3 million shares in fiscal 2021 and 28 million shares in fiscal 2020. These expenditures were funded by cash generated from operations.
In February 2022, the Company announced that its Board of Directors had approved a new stock repurchase program that authorizes the repurchase of up to an additional $3.0 billion of TJX common stock from time to time. Under this program and previously announced programs, TJX had approximately $3.8 billion available for repurchase as of January 29, 2022.
All shares repurchased under the stock repurchase programs have been retired.
TJX has five million shares of authorized but unissued preferred stock, $1 par value.
Earnings Per Share
The following table presents the calculation of basic and diluted earnings per share:
  Fiscal Year Ended
In thousands except per share amountsJanuary 29,
2022		January 30,
2021		February 1,
2020
Basic earnings per share:
Net income$3,282,815 $90,470 $3,272,193 
Weighted average common stock outstanding for basic earnings per share calculation1,199,990 1,199,927 1,208,163 
Basic earnings per share$2.74 $0.08 $2.71 
Diluted earnings per share:
Net income$3,282,815 $90,470 $3,272,193 
Weighted average common stock outstanding for basic earnings per share calculation1,199,990 1,199,927 1,208,163 
Assumed exercise/vesting of:
Stock options and awards15,601 14,776 18,356 
Weighted average common stock outstanding for diluted earnings per share calculation1,215,591 1,214,703 1,226,519 
Diluted earnings per share$2.70 $0.07 $2.67 
Cash dividends declared per share(a)
$1.04 $0.26 $0.92 
(a)There were no dividends declared during the first three quarters of fiscal 2021. The Company declared a dividend of $0.26 per share in the fourth quarter of fiscal 2021.
The weighted average common shares for the diluted earnings per share calculation excludes the impact of outstanding stock options if the assumed proceeds per share of the option is in excess of the average price of TJX’s common stock for the related fiscal periods. Such options are excluded because they would have an antidilutive effect. There were 5.2 million, 6.2 million and 11.8 million such options excluded at the end of fiscal 2022, fiscal 2021 and fiscal 2020, respectively.