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Pension Plans and Other Retirement Benefits | 3 Months Ended
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Apr. 30, 2022
Retirement Benefits [Abstract] |
Pension Plans and Other Retirement Benefits | Pension Plans and Other Retirement Benefits Presented below is financial information relating to TJX’s funded defined benefit pension plan (“qualified pension plan” or “funded plan”) and its unfunded supplemental pension plan (“unfunded plan”) for the periods shown:
| Funded Plan | Unfunded Plan
| Thirteen Weeks Ended | Thirteen Weeks Ended
In thousands | April 30, 2022 | May 1, 2021 | April 30, 2022 | May 1, 2021
Service cost | $ | 12,168 |  | $ | 12,219 |  | $ | 727 |  | $ | 755 |
Interest cost | 14,426 |  | 12,812 |  | 931 |  | 780 |
Expected return on plan assets | (22,228) |  | (23,992) |  | — |  | — |
Amortization of net actuarial loss and prior service cost | 4,274 |  | 2,803 |  | 879 |  | 1,154 |
Total expense | $ | 8,640 |  | $ | 3,842 |  | $ | 2,537 |  | $ | 2,689 |
TJX’s policy with respect to the funded plan is to fund, at a minimum, the amount required to maintain a funded status of 80% of the applicable pension liability (the Funding Target pursuant to the Internal Revenue Code section 430) or such other amount as is sufficient to avoid restrictions with respect to the funding of nonqualified plans under the Internal Revenue Code. The Company does not anticipate any required funding in fiscal 2023 for the funded plan. The Company anticipates making contributions of $4 million to provide current benefits coming due under the unfunded plan in fiscal 2023. The amounts included in amortization of net actuarial loss and prior service cost in the table above have been reclassified in their entirety from Accumulated other comprehensive loss to the Consolidated Statements of Income, net of related tax effects, for the periods presented.

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