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Financial Instruments (Tables) | 12 Months Ended
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Feb. 03, 2024
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 February 3, 2024:
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 February 3, 2024
Fair value hedges: |  |  |  |  |  |  |
Intercompany balances, primarily debt: |  |  |
| € | 78 |  | £ | 67 |  | 0.8622 |  | Prepaid Exp / (Accrued Exp) | $ | 0.1 |  | $ | (0.1) |  | $ | 0.0 |
| A$ | 140 |  | U.S.$ | 95 |  | 0.6751 |  | Prepaid Exp | 2.7 |  | — |  | 2.7 |
| U.S.$ | 70 |  | £ | 55 |  | 0.7898 |  | (Accrued Exp) | — |  | (0.2) |  | (0.2) |
| £ | 100 |  | U.S.$ | 127 |  | 1.2727 |  | Prepaid Exp | 0.8 |  | — |  | 0.8 |
| € | 200 |  | U.S.$ | 219 |  | 1.0969 |  | Prepaid Exp / (Accrued Exp) | 3.0 |  | (0.3) |  | 2.7 |
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 | (Accrued Exp) | — |  | (7.2) |  | (7.2) |
Intercompany billings in TJX International, primarily merchandise: |  |  |
| € | 130 |  | £ | 112 |  | 0.8604 |  | Prepaid Exp | 0.9 |  | — |  | 0.9 |
Merchandise purchase commitments: |  |  |  |
| C$ | 668 |  | U.S.$ | 495 |  | 0.7408 |  | Prepaid Exp / (Accrued Exp) | 1.4 |  | (3.6) |  | (2.2) |
| C$ | 29 |  | € | 20 |  | 0.6797 |  | (Accrued Exp) | — |  | (0.3) |  | (0.3) |
| £ | 353 |  | U.S.$ | 443 |  | 1.2549 |  | Prepaid Exp / (Accrued Exp) | 1.5 |  | (5.0) |  | (3.5) |
| zł | 508 |  | £ | 98 |  | 0.1930 |  | Prepaid Exp / (Accrued Exp) | 0.0 |  | (3.1) |  | (3.1) |
| A$ | 82 |  | U.S.$ | 55 |  | 0.6620 |  | Prepaid Exp / (Accrued Exp) | 0.8 |  | (0.1) |  | 0.7 |
| U.S.$ | 109 |  | € | 100 |  | 0.9191 |  | Prepaid Exp / (Accrued Exp) | 0.3 |  | (1.0) |  | (0.7) |
Total fair value of derivative financial instruments | $ | 11.5 |  | $ | (20.9) |  | $ | (9.4) |
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) |
Summary of 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 (Loss) Gain Recognized in Income by Derivative | Amount of (Loss) Gain Recognized in Income by Derivative
In millions | February 3, 2024 | January 28, 2023 | January 29, 2022
|  | (53 weeks) |  |
Fair value hedges: |  |  |  |
Intercompany balances, primarily debt | Selling, general and administrative expenses | $ | 20 |  | $ | 12 |  | $ | 36 |
Economic hedges for which hedge accounting was not elected: |  |  |
Diesel fuel contracts | Cost of sales, including buying and occupancy costs | (19) |  | 55 |  | 43 |
Intercompany billings in TJX International, primarily merchandise | Cost of sales, including buying and occupancy costs | 5 |  | (9) |  | 5 |
Merchandise purchase commitments | Cost of sales, including buying and occupancy costs | (7) |  | 71 |  | 24 |
(Loss) gain recognized in income | $ | (1) |  | $ | 129 |  | $ | 108 |

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