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Long-Term Debt and Credit Lines
 12 Months Ended
Jan. 28, 2023
Debt Disclosure [Abstract]  
Long-Term Debt and Credit Lines Long-Term Debt and Credit Lines
The table below presents long-term debt as of January 28, 2023 and January 29, 2022. All amounts are net of unamortized debt discounts.
In millions and net of immaterial unamortized debt discountJanuary 28,
2023		January 29,
2022
General corporate debt:
2.500% senior unsecured notes, maturing May 15, 2023 (effective interest rate of 2.51% after reduction of unamortized debt discount)
$500 $500 
2.250% senior unsecured notes, maturing September 15, 2026 (effective interest rate of 2.32% after reduction of unamortized debt discount)
997 997 
1.150% senior unsecured notes, maturing May 15, 2028 (effective interest rate of 1.18% after reduction of unamortized debt discount)
499 499 
3.875% senior unsecured notes, maturing April 15, 2030 (effective interest rate of 3.89% after reduction of unamortized debt discount)
496 495 
1.600% senior unsecured notes, maturing May 15, 2031 (effective interest rate of 1.61% after reduction of unamortized debt discount)
500 500 
4.500% senior unsecured notes, maturing April 15, 2050 (effective interest rate of 4.52% after reduction of unamortized debt discount)
383 383 
Total debt3,375 3,374 
Current maturities of long-term debt, net of debt issuance costs(500)— 
Debt issuance costs(16)(19)
Long-term debt$2,859 $3,355 
The aggregate maturities of long-term debt, inclusive of current installments at January 28, 2023 are as follows:
In millions
Fiscal Year:
2024
$500 
2025— 
2026— 
20271,000 
2028— 
Later years1,881 
Unamortized debt discount(6)
Debt issuance costs(16)
Less: current maturities of long-term debt(500)
Aggregate maturities of long-term debt$2,859 
Senior Unsecured Notes
As of January 28, 2023, TJX had outstanding $1 billion aggregate principal amount of 2.250% ten-year Notes due September 2026 and $500 million aggregate principal amount of 2.500% ten-year Notes due May 2023. TJX entered into a rate-lock agreement to hedge $700 million of the 2.250% notes and $250 million of the 2.500% notes prior to their issuance. The cost of these agreements is being amortized to interest expense over the term of the notes resulting in an effective fixed rate of 2.36% for the 2.25% notes and 2.57% for the 2.50% notes.
Credit Facilities
TJX has two revolving credit facilities, a $1 billion senior unsecured revolving credit facility maturing in June 2026 (the “2026 Revolving Credit Facility”) and a $500 million revolving credit facility that matures in May 2024 (the “2024 Revolving Credit Facility”). Under these credit facilities, the Company has maintained a borrowing capacity of $1.5 billion. The terms of these revolving credit facilities require quarterly payments on the committed amount and payment of interest on borrowings at rates based on LIBOR or a base rate plus a variable margin, in each case based on the Company’s long-term debt ratings. The 2024 Revolving Credit Facility requires usage fees based on total credit extensions under the facility. As of January 28, 2023 and January 29, 2022, there were no amounts outstanding under these facilities. Each of these facilities require TJX to maintain a ratio of funded debt to earnings before interest, taxes, depreciation and amortization and rentals (EBITDAR) of not more than 3.50 to 1.00 on a rolling four-quarter basis. TJX was in compliance with all covenants related to its credit facilities at the end of all periods presented.
As of January 28, 2023 and January 29, 2022, TJX Canada had two uncommitted credit lines, a C$10 million facility for operating expenses and a C$10 million letter of credit facility. As of January 28, 2023 and January 29, 2022, and during the years then ended, there were no amounts outstanding on the Canadian credit lines for operating expenses. As of January 28, 2023 and January 29, 2022, the Company’s European business at TJX International had an uncommitted credit line of £5 million. As of January 28, 2023 and January 29, 2022, and during the years then ended, there were no amounts outstanding on the European credit line.