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Capital Stock and Earnings Per Share | 12 Months Ended
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Feb. 03, 2024
Equity [Abstract] |
Capital Stock and Earnings Per Share | Capital Stock and Earnings Per Share Capital Stock In February 2024, the Company announced that its Board of Directors had approved a new stock repurchase program that authorizes the repurchase of up to an additional $2.5 billion of TJX common stock from time to time. Under this program and previously announced programs, TJX had approximately $3.5 billion available for repurchase as of February 3, 2024. The following table provides share repurchases, excluding applicable excise tax:
| Fiscal Year Ended
In millions | February 3, 2024 | January 28, 2023 | January 29, 2022
Total number of shares repurchased and retired | 29.0 |  | 34.9 |  | 31.3 |
Total cost | $ | 2,484 |  | $ | 2,255 |  | $ | 2,176 |
All shares repurchased under the stock repurchase programs have been retired. These expenditures were funded by cash generated from operations. TJX has five million shares of authorized but unissued preferred stock, $1 par value. Earnings Per Share The following table presents the calculation of basic and diluted earnings per share:
| Fiscal Year Ended
Amounts in millions, except per share amounts | February 3, 2024 | January 28, 2023 | January 29, 2022
| (53 weeks) |  |
Basic earnings per share: |
Net income | $ | 4,474 |  | $ | 3,498 |  | $ | 3,283 |
Weighted average common shares outstanding for basic earnings per share calculation | 1,146 |  | 1,166 |  | 1,200 |
Basic earnings per share | $ | 3.90 |  | $ | 3.00 |  | $ | 2.74 |
Diluted earnings per share: |
Net income | $ | 4,474 |  | $ | 3,498 |  | $ | 3,283 |
Weighted average common shares outstanding for basic earnings per share calculation | 1,146 |  | 1,166 |  | 1,200 |
Assumed exercise/vesting of stock options and awards | 13 |  | 12 |  | 16 |
Weighted average common shares outstanding for diluted earnings per share calculation | 1,159 |  | 1,178 |  | 1,216 |
Diluted earnings per share | $ | 3.86 |  | $ | 2.97 |  | $ | 2.70 |
Cash dividends declared per share | $ | 1.33 |  | $ | 1.18 |  | $ | 1.04 |
The weighted average common shares for the diluted earnings per share calculation excludes the impact of outstanding stock options if the assumed proceeds per share of the option is in excess of the average price of TJX’s common stock for the related fiscal periods. Such options are excluded because they would have an antidilutive effect. There were 5 million, 6 million, and 5 million such options excluded at the end of fiscal 2024, fiscal 2023 and fiscal 2022, respectively

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