XML 34 R18.htm IDEA: XBRL DOCUMENT v3.22.1
Segment Information
 12 Months Ended
Jan. 29, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
TJX operates four main business segments. The Marmaxx segment (T.J. Maxx, Marshalls, tjmaxx.com and marshalls.com) and the HomeGoods segment (HomeGoods, Homesense and homegoods.com) both operate in the United States, the TJX Canada segment operates Winners, HomeSense and Marshalls in Canada, and the TJX International segment operates T.K. Maxx, Homesense and tkmaxx.com in Europe and T.K. Maxx in Australia. In addition to the Company’s four main business segments, Sierra operates sierra.com and retail stores in the U.S. The results of Sierra are included in the Marmaxx segment.
All of TJX’s stores, with the exception of HomeGoods and HomeSense, sell family apparel and home fashions. HomeGoods and HomeSense offer home fashions. The percentages of the Company’s consolidated revenues by major product category for the last three fiscal years are as follows:
Fiscal 2022Fiscal 2021Fiscal 2020
Apparel:
Clothing including footwear47 %46 %51 %
Jewelry and accessories15 15 16 
Home fashions38 39 33 
Total100 %100 %100 %
TJX evaluates the performance of its segments based on “segment profit or loss,” which it defines as pre-tax income or loss before general corporate expense, interest expense, net and certain separately disclosed unusual or infrequent items. “Segment profit or loss,” as defined by TJX, may not be comparable to similarly titled measures used by other entities. This measure of performance should not be considered an alternative to net income or cash flows from operating activities as an indicator of TJX’s performance or as a measure of liquidity.
Presented below is financial information with respect to TJX’s business segments:
  Fiscal Year Ended
In thousandsJanuary 29,
2022		January 30,
2021		February 1,
2020
Net sales:
In the United States:
Marmaxx$29,483,073 $19,362,573 $25,664,805 
HomeGoods8,995,140 6,096,237 6,355,770 
TJX Canada4,342,538 2,836,088 4,031,406 
TJX International5,729,231 3,842,064 5,664,996 
Total net sales$48,549,982 $32,136,962 $41,716,977 
Segment profit (loss):
In the United States:
Marmaxx
$3,812,847 $891,180 $3,469,794 
HomeGoods907,391 509,562 680,520 
TJX Canada484,585 124,143 515,559 
TJX International161,199 (503,618)307,081 
Total segment profit$5,366,022 $1,021,267 $4,972,954 
General corporate expense611,090 439,037 556,745 
Loss on early extinguishment of debt242,248 312,233 — 
Interest expense, net115,076 180,734 10,026 
Income before income taxes$4,397,608 $89,263 $4,406,183 
Business segment information (continued):
  Fiscal Year Ended
In thousandsJanuary 29,
2022		January 30,
2021		February 1,
2020
Identifiable assets:
In the United States:
Marmaxx$11,230,232 $10,220,441 $11,162,890 
HomeGoods3,460,830 2,851,131 2,785,006 
TJX Canada2,196,895 2,035,341 1,889,679 
TJX International4,280,596 4,389,261 4,284,385 
Corporate(a)
7,292,905 11,317,381 4,023,043 
Total identifiable assets
$28,461,458 $30,813,555 $24,145,003 
Capital expenditures:
In the United States:
Marmaxx$514,141 $216,186 $614,624 
HomeGoods243,551 162,200 251,864 
TJX Canada68,585 43,879 101,862 
TJX International218,517 145,756 254,766 
Total capital expenditures(b)
$1,044,794 $568,021 $1,223,116 
Depreciation and amortization:
In the United States:
Marmaxx$464,660 $478,963 $473,908 
HomeGoods149,130 135,205 124,360 
TJX Canada72,507 70,777 66,693 
TJX International174,216 175,824 197,262 
Corporate(c)
7,489 9,989 5,080 
Total depreciation and amortization$868,002 $870,758 $867,303 
(a)Corporate identifiable assets consist primarily of cash, the trust assets in connection with the Executive Savings Plan and the investment in Familia. Consolidated cash, including cash held in the Company’s foreign entities, is included with corporate assets for consistency with the reporting of cash for the Company’s segments in the U.S.
(b)Fiscal 2022 increase in capital spending due to the COVID-19 pandemic impacts in fiscal 2021.
(c)Includes debt discount accretion and debt expense amortization.