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Stock Incentive Plan (Tables) | 12 Months Ended
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Feb. 03, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Estimated Fair Value of Options as of Grant Date by Using Black-Scholes Option Pricing Model | The fair value of options is estimated as of the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions:
| Fiscal Year Ended
| February 3, 2024 | January 28, 2023 | January 29, 2022
Risk-free interest rate | 4.51 | % | 3.69 | % | 0.84 | %
Dividend yield | 1.5 | % | 1.8 | % | 1.5 | %
Expected volatility factor | 24.1 | % | 26.0 | % | 23.8 | %
Expected option life | 5.5 years | 5.5 years | 5.0 years
Weighted average fair value of options issued | $ | 24.62 |  | $ | 16.68 |  | $ | 12.85 |
Schedule of Stock Options and Related Weighted Average Exercise Prices | A summary of the status of TJX’s stock options and related weighted average exercise prices (“WAEP”) is presented below:
| Fiscal Year Ended
| February 3, 2024 | January 28, 2023 | January 29, 2022
Shares in millions | Options | WAEP | Options | WAEP | Options | WAEP
Outstanding at beginning of year | 37 |  | $ | 51.88 |  | 40 |  | $ | 47.11 |  | 43 |  | $ | 41.79 |
Granted | 5 |  | 91.00 |  | 6 |  | 65.54 |  | 5 |  | 70.48 |
Exercised | (7) |  | 43.39 |  | (8) |  | 38.12 |  | (7) |  | 32.04 |
Forfeitures | (0) |  | 68.32 |  | (1) |  | 63.29 |  | (1) |  | 57.55 |
Outstanding at end of year | 35 |  | $ | 58.65 |  | 37 |  | $ | 51.88 |  | 40 |  | $ | 47.11 |
Options exercisable at end of year | 25 |  | $ | 50.64 |  | 26 |  | $ | 45.99 |  | 29 |  | $ | 40.93 |
Schedule of Stock Options Outstanding Expected to Vest and Stock Options Outstanding Exercisable | The following table summarizes information about stock options outstanding that were expected to vest and stock options outstanding that were exercisable as of February 3, 2024:
| Shares (in millions) | Aggregate Intrinsic Value (in millions) | Weighted Average Remaining Contract Life | WAEP
Options outstanding expected to vest(a) | 10 |  | $ | 189 |  | 8.9 years | $ | 77.76 |
Options exercisable | 25 |  | 1,172 |  | 4.9 years | 50.64 |
Total outstanding options vested and expected to vest | 35 |  | $ | 1,361 |  | 6.0 years | $ | 58.16 |
(a)Reflects 10 million unvested options, net of anticipated forfeitures.
Summary of Nonvested Performance-Based Stock Awards | A summary of the status of the Company’s non-vested stock awards and changes during fiscal 2024 is presented below:
In thousands except grant date fair value | Restricted Stock Units | Performance Share Units | Total Stock Awards | Weighted Average Grant Date Fair Value
Nonvested at beginning of year | 1,867 |  | 761 |  | 2,628 |  | $ | 61.76 |
Granted | 342 |  | 352 |  | 694 |  | 76.21 |
Vested | (849) |  | — |  | (849) |  | 56.82 |
Forfeited | (80) |  | (50) |  | (130) |  | 63.14 |
Nonvested at end of year | 1,280 |  | 1,063 |  | 2,343 |  | $ | 67.76 |

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- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (e)(1) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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