XML 39 R28.htm IDEA: XBRL DOCUMENT v3.23.3

Financial Instruments (Tables)

9 Months Ended

Oct. 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 October 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 October 28, 2023
Fair value hedges:
Intercompany balances, primarily debt:
			€			60			£			52			0.8738			(Accrued Exp)			$	—		$	(0.1)		$	(0.1)
			A$			150			U.S.$			104			0.6937			Prepaid Exp			8.4			—			8.4
			U.S.$			69			£			55			0.8010			(Accrued Exp)			—			(2.0)			(2.0)
			£			150			U.S.$			186			1.2396			Prepaid Exp			3.9			—			3.9
			€			200			U.S.$			220			1.1008			Prepaid Exp			7.8			—			7.8
Economic hedges for which hedge accounting was not elected:
			Diesel fuel contracts			Fixed on 3.0M – 3.8M gal per month			Float on 3.0M – 3.8M gal per month						N/A			Prepaid Exp			2.7			—			2.7
Intercompany billings in TJX International, primarily merchandise:
			€			118			£			102			0.8646			(Accrued Exp)			—			(1.1)			(1.1)
Merchandise purchase commitments:
			C$			773			U.S.$			575			0.7440			Prepaid Exp			16.8			—			16.8
			C$			35			€			24			0.6826			Prepaid Exp / (Accrued Exp)			0.2			(0.1)			0.1
			£			365			U.S.$			458			1.2537			Prepaid Exp / (Accrued Exp)			14.7			(0.1)			14.6
			A$			58			U.S.$			39			0.6677			Prepaid Exp			1.9			—			1.9
			zł			581			£			110			0.1900			(Accrued Exp)			—			(3.6)			(3.6)
			U.S.$			120			€			110			0.9190			(Accrued Exp)			—			(3.2)			(3.2)
Total fair value of derivative financial instruments																					$	56.4		$	(10.2)		$	46.2

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:
			€			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 October 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  October 29, 2022
Fair value hedges:
Intercompany balances, primarily debt:
			€			60			£			51			0.8526			(Accrued Exp)			$	—		$	(0.8)		$	(0.8)
			A$			170			U.S.$			120			0.7034			Prepaid Exp			10.6			—			10.6
			U.S.$			75			£			55			0.7368			(Accrued Exp)			—			(11.2)			(11.2)
			£			200			U.S.$			247			1.2341			Prepaid Exp / (Accrued Exp)			20.8			(4.1)			16.7
			€			200			U.S.$			217			1.0862			Prepaid Exp / (Accrued Exp)			17.7			(0.5)			17.2
Economic hedges for which hedge accounting was not elected:
			Diesel fuel contracts			Fixed on 3.1M – 3.9M gal per month			Float on 3.1M – 3.9M gal per month						N/A			Prepaid Exp			18.4			—			18.4
Intercompany billings in TJX International, primarily merchandise:
			€			222			£			195			0.8769			Prepaid Exp			4.2			—			4.2
Merchandise purchase commitments:
			C$			710			U.S.$			542			0.7633			Prepaid Exp / (Accrued Exp)			22.2			(0.5)			21.7
			C$			16			€			12			0.7453			Prepaid Exp / (Accrued Exp)			0.2			(0.0)			0.2
			£			389			U.S.$			475			1.2201			Prepaid Exp / (Accrued Exp)			29.6			(3.0)			26.6
			A$			79			U.S.$			54			0.6843			Prepaid Exp			3.6			—			3.6
			zł			614			£			108			0.1760			(Accrued Exp)			—			(2.8)			(2.8)
			U.S.$			88			€			85			0.9635			Prepaid Exp / (Accrued Exp)			0.3			(4.0)			(3.7)
Total fair value of derivative financial instruments																					$	127.6		$	(26.9)		$	100.7

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						Thirty-Nine Weeks Ended
In millions						October 28, 2023			October 29, 2022			October 28, 2023			October 29, 2022
Fair value hedges:
Intercompany balances, primarily debt			Selling, general and administrative expenses			$	26		$	24		$	29		$	57
Economic hedges for which hedge accounting was not elected:
Diesel fuel contracts			Cost of sales, including buying and occupancy costs			2			(1)			(6)			53
Intercompany billings in TJX International, primarily merchandise			Cost of sales, including buying and occupancy costs			(2)			(6)			2			(6)
Merchandise purchase commitments			Cost of sales, including buying and occupancy costs			49			65			27			113
Gain recognized in income						$	75		$	82		$	52		$	217

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
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A

+ 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
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B

+ Details

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