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Financial Instruments (Tables)

12 Months Ended

Jan. 28, 2023

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 January 28, 2023:

In millions						Pay			Receive						Blended Contract Rate			Balance Sheet Location			Current Asset U.S.$			Current (Liability) U.S.$			Net Fair Value in U.S.$ at January 28, 2023
Fair value hedges:
Intercompany balances, primarily debt:
			€			60			£			53			0.8807			(Accrued Exp)			$	—		$	(0.3)		$	(0.3)
			A$			150			U.S.$			105			0.7003			(Accrued Exp)			—			(2.6)			(2.6)
			U.S.$			69			£			55			0.8010			(Accrued Exp)			—			(0.3)			(0.3)
			£			200			U.S.$			244			1.2191			(Accrued Exp)			—			(5.5)			(5.5)
			€			200			U.S.$			213			1.0652			Prepaid Exp / (Accrued Exp)			0.8			(7.0)			(6.2)
Economic hedges for which hedge accounting was not elected:
			Diesel fuel contracts			Fixed on 3.2M - 3.6M gal per month						Float on 3.2M - 3.6M gal per month			N/A			Prepaid Exp			3.9			—			3.9
Intercompany billings in TJX International, primarily merchandise related:
			€			146			£			129			0.8834			Prepaid Exp			0.8			—			0.8
Merchandise purchase commitments:
			C$			705			U.S.$			525			0.7449			Prepaid Exp / (Accrued Exp)			2.2			(7.1)			(4.9)
			C$			23			€			16			0.7064			Prepaid Exp / (Accrued Exp)			0.4			0.0			0.4
			£			299			U.S.$			356			1.1916			Prepaid Exp / (Accrued Exp)			0.1			(15.4)			(15.3)
			zł			507			£			91			0.1788			(Accrued Exp)			—			(3.6)			(3.6)
			A$			104			U.S.$			71			0.6819			(Accrued Exp)			—			(3.3)			(3.3)
			U.S.$			85			€			82			0.9634			Prepaid Exp			4.3			—			4.3
Total fair value of derivative financial instruments																					$	12.5		$	(45.1)		$	(32.6)

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

In millions						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:
			zł			25			£			5			0.1816			Prepaid Exp			$	0.1		$	—		$	0.1
			€			60			£			51			0.8428			Prepaid Exp			0.1			—			0.1
			A$			170			U.S.$			122			0.7180			Prepaid Exp			2.0			—			2.0
			U.S.$			75			£			55			0.7368			(Accrued Exp)			—			(1.0)			(1.0)
			€			200			U.S.$			230			1.1516			Prepaid Exp			4.5			—			4.5
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			23.7			—			23.7
Intercompany billings in TJX International, primarily merchandise related:
			€			91			£			76			0.8340			(Accrued Exp)			—			(0.1)			(0.1)
Merchandise purchase commitments:
			C$			988			U.S.$			783			0.7927			Prepaid Exp / (Accrued Exp)			6.7			(0.1)			6.6
			C$			38			€			27			0.6948			(Accrued Exp)			—			(0.2)			(0.2)
			£			325			U.S.$			442			1.3583			Prepaid Exp / (Accrued Exp)			6.0			(0.6)			5.4
			zł			453			£			82			0.1813			Prepaid Exp / (Accrued Exp)			0.7			(0.4)			0.3
			A$			66			U.S.$			48			0.7246			Prepaid Exp			1.3			—			1.3
			U.S.$			67			€			59			0.8807			(Accrued Exp)			—			(0.9)			(0.9)
Total fair value of derivative financial instruments																					$	45.1		$	(3.3)		$	41.8

Impact of Derivative Financial Instruments on Statements of Income

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

			Location of Gain (Loss) Recognized in Income by Derivative			Amount of Gain (Loss) Recognized in Income by Derivative
In millions						January 28, 2023			January 29, 2022			January 30, 2021
Fair value hedges:
Intercompany balances, primarily debt			Selling, general and administrative expenses			$	12		$	36		$	(60)
Economic hedges for which hedge accounting was not elected:
Diesel fuel contracts			Cost of sales, including buying and occupancy costs			55			43			(6)
Intercompany billings in TJX International, primarily merchandise related			Cost of sales, including buying and occupancy costs			(9)			5			(4)
Merchandise purchase commitments			Cost of sales, including buying and occupancy costs			71			24			(4)
Gain (loss) recognized in income						$	129		$	108		$	(74)

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- References

No definition available.

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- 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 https://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

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- 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 https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959

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