Financial Instruments (Tables)

12 Months Ended

Feb. 03, 2024

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)

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