XML 39 R26.htm IDEA: XBRL DOCUMENT v3.22.1

Financial Instruments (Tables)

3 Months Ended

Apr. 30, 2022

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 April 30, 2022:

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 April 30, 2022
Fair value hedges:
Intercompany balances, primarily debt related:
			zł			25,000			£			4,541			0.1816			Prepaid Exp			$	149		$	—		$	149
			€			60,000			£			50,568			0.8428			(Accrued Exp)			—			(145)			(145)
			A$			170,000			U.S.$			122,061			0.7180			Prepaid Exp			1,868			—			1,868
			U.S.$			74,646			£			55,000			0.7368			(Accrued Exp)			—			(5,584)			(5,584)
			£			150,000			U.S.$			203,667			1.3578			Prepaid Exp			15,501			—			15,501
			€			200,000			U.S.$			229,237			1.1462			Prepaid Exp			16,758			—			16,758
Economic hedges for which hedge accounting was not elected:
			Diesel fuel contracts			Fixed on 3.2M – 4.0M gal per month						Float on 3.2M – 4.0M gal per month			N/A			Prepaid Exp			53,779			—			53,779
Intercompany billings in TJX International, primarily merchandise related:
			€			260,000			£			216,610			0.8331			(Accrued Exp)			—			(2,348)			(2,348)
Merchandise purchase commitments:
			C$			826,057			U.S.$			655,000			0.7929			Prepaid Exp			14,162			—			14,162
			C$			30,949			€			22,000			0.7108			(Accrued Exp)			—			(802)			(802)
			£			436,036			U.S.$			582,300			1.3354			Prepaid Exp / (Accrued Exp)			36,363			(210)			36,153
			A$			69,520			U.S.$			50,500			0.7264			Prepaid Exp			1,394			—			1,394
			zł			615,000			£			110,481			0.1796			Prepaid Exp			2,458			—			2,458
			U.S.$			152,073			€			135,500			0.8910			(Accrued Exp)			—			(8,897)			(8,897)
Total fair value of derivative financial instruments																					$	142,432		$	(17,986)		$	124,446

The following is a summary of TJX’s derivative financial instruments, related fair value and balance sheet classification at January 29, 2022:

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 January 29, 2022
Fair value hedges:
Intercompany balances, primarily debt related:
			zł			25,000			£			4,541			0.1816			Prepaid Exp			$	72		$	—		$	72
			€			60,000			£			50,568			0.8428			Prepaid Exp			111			—			111
			A$			170,000			U.S.$			122,061			0.7180			Prepaid Exp			2,047			—			2,047
			U.S.$			74,646			£			55,000			0.7368			(Accrued Exp)			—			(918)			(918)
			€			200,000			U.S.$			230,319			1.1516			Prepaid Exp			4,535			—			4,535
Economic hedges for which hedge accounting was not elected:
			Diesel fuel contracts			Fixed on 3.6M – 4.0M gal per month						Float on 3.6M– 4.0M gal per month			N/A			Prepaid Exp			23,649			—			23,649
Intercompany billings in TJX International, primarily merchandise related:
			€			91,000			£			75,894			0.8340			(Accrued Exp)			—			(145)			(145)
Merchandise purchase commitments:
			C$			987,756			U.S.$			783,000			0.7927			Prepaid Exp / (Accrued Exp)			6,641			(80)			6,561
			C$			38,138			€			26,500			0.6948			(Accrued Exp)			—			(248)			(248)
			£			325,482			U.S.$			442,100			1.3583			Prepaid Exp / (Accrued Exp)			6,023			(632)			5,391
			zł			453,000			£			82,112			0.1813			Prepaid Exp / (Accrued Exp)			744			(449)			295
			A$			65,551			U.S.$			47,500			0.7246			Prepaid Exp			1,270			—			1,270
			U.S.$			66,989			€			59,000			0.8807			(Accrued Exp)			—			(820)			(820)
Total fair value of derivative financial instruments																					$	45,092		$	(3,292)		$	41,800

The following is a summary of TJX’s derivative financial instruments, related fair value and balance sheet classification at May 1, 2021:

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  May 1, 2021
Fair value hedges:
Intercompany balances, primarily debt related:
			zł			45,000			£			8,846			0.1966			Prepaid Exp			$	353		$	—		$	353
			A$			80,000			U.S.$			62,032			0.7754			(Accrued Exp)			—			(98)			(98)
			U.S.$			75,102			£			55,000			0.7323			Prepaid Exp			1,505			—			1,505
			£			450,000			U.S.$			620,918			1.3798			Prepaid Exp / (Accrued Exp)			40			(5,582)			(5,542)
			€			200,000			U.S.$			244,699			1.2235			Prepaid Exp			2,301			—			2,301
Economic hedges for which hedge accounting was not elected:
			Diesel fuel contracts			Fixed on 3.1M – 3.8M gal per month						Float on 3.1M – 3.8M gal per month			N/A			Prepaid Exp			17,816			—			17,816
Intercompany billings in TJX International, primarily merchandise related:
			€			163,000			£			141,240			0.8665			(Accrued Exp)			—			(166)			(166)
Merchandise purchase commitments:
			C$			574,390			U.S.$			457,000			0.7956			(Accrued Exp)			—			(11,054)			(11,054)
			C$			29,455			€			19,500			0.6620			(Accrued Exp)			—			(444)			(444)
			£			282,746			U.S.$			391,800			1.3857			Prepaid Exp / (Accrued Exp)			1,939			(3,751)			(1,812)
			A$			50,830			U.S.$			39,125			0.7697			Prepaid Exp / (Accrued Exp)			42			(356)			(314)
			U.S.$			53,680			€			44,400			0.8271			Prepaid Exp / (Accrued Exp)			185			(267)			(82)
Total fair value of derivative financial instruments																					$	24,181		$	(21,718)		$	2,463

Impact of Derivative Financial Instruments on Statements of (Loss) Income

The impact of derivative financial instruments on the Consolidated Statements of Income is presented below:

						Amount of Gain (Loss) Recognized in Income by Derivative
			Location of Gain (Loss) Recognized in Income by Derivative			Thirteen Weeks Ended
In thousands						April 30, 2022			May 1, 2021
Fair value hedges:
Intercompany balances, primarily debt related			Selling, general and administrative expenses			$	24,395		$	(2,864)
Economic hedges for which hedge accounting was not elected:
Diesel fuel contracts			Cost of sales, including buying and occupancy costs			44,173			13,570
Intercompany billings in TJX International, primarily merchandise related			Cost of sales, including buying and occupancy costs			(370)			118
Merchandise purchase commitments			Cost of sales, including buying and occupancy costs			40,929			(15,969)
Gain (loss) recognized in income						$	109,127		$	(5,145)

X

- References

No definition available.

+ Details

Name:	us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration