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Financial Instruments (Tables)

3 Months Ended

May 04, 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 May 4, 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 May 4, 2024
Fair value hedges:
Intercompany balances, primarily debt:
			zł			10			£			2			0.1973			(Accrued Exp)			$	—		$	(0.0)		$	(0.0)
			€			78			£			67			0.8622			Prepaid Exp / (Accrued Exp)			0.1			(0.1)			0.0
			A$			146			U.S.$			98			0.6743			Prepaid Exp / (Accrued Exp)			1.7			(0.2)			1.5
			U.S.$			70			£			55			0.7898			(Accrued Exp)			—			(0.5)			(0.5)
			£			100			U.S.$			126			1.2608			Prepaid Exp / (Accrued Exp)			0.8			(0.3)			0.5
			€			200			U.S.$			219			1.0937			Prepaid Exp / (Accrued Exp)			2.0			(0.3)			1.7
Economic hedges for which hedge accounting was not elected:
			Diesel fuel contracts			Fixed on 3.0M – 4.2M gal per month			Float on 3.0M – 4.2M gal per month						N/A			(Accrued Exp)			—			(8.1)			(8.1)
Intercompany billings in TJX International, primarily merchandise:
			€			142			£			121			0.8547			(Accrued Exp)			—			(0.6)			(0.6)
Merchandise purchase commitments:
			C$			851			U.S.$			630			0.7400			Prepaid Exp / (Accrued Exp)			7.7			(0.6)			7.1
			C$			37			€			25			0.6812			Prepaid Exp / (Accrued Exp)			0.1			(0.0)			0.1
			£			379			U.S.$			477			1.2585			Prepaid Exp / (Accrued Exp)			2.7			(1.6)			1.1
			A$			94			U.S.$			63			0.6633			Prepaid Exp / (Accrued Exp)			0.3			(0.3)			0.0
			zł			534			£			105			0.1971			Prepaid Exp / (Accrued Exp)			0.0			(0.7)			(0.7)
			U.S.$			133			€			123			0.9190			Prepaid Exp / (Accrued Exp)			0.1			(1.2)			(1.1)
Total fair value of derivative financial instruments																					$	15.5		$	(14.5)		$	1.0

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 April 29, 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  April 29, 2023
Fair value hedges:
Intercompany balances, primarily debt:
			€			60			£			53			0.8807			(Accrued Exp)			$	—		$	(0.0)		$	(0.0)
			A$			150			U.S.$			105			0.7003			Prepaid Exp			4.9			—			4.9
			U.S.$			69			£			55			0.8010			Prepaid Exp			0.2			—			0.2
			£			200			U.S.$			244			1.2191			(Accrued Exp)			—			(6.5)			(6.5)
			€			200			U.S.$			213			1.0641			Prepaid Exp / (Accrued Exp)			0.1			(8.0)			(7.9)
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)			—			(19.3)			(19.3)
Intercompany billings in TJX International, primarily merchandise:
			€			100			£			88			0.8811			Prepaid Exp			0.3			—			0.3
Merchandise purchase commitments:
			C$			821			U.S.$			610			0.7434			Prepaid Exp / (Accrued Exp)			4.9			(1.5)			3.4
			C$			27			€			18			0.6790			Prepaid Exp / (Accrued Exp)			0.2			(0.0)			0.2
			£			367			U.S.$			445			1.2147			Prepaid Exp / (Accrued Exp)			0.2			(13.3)			(13.1)
			A$			90			U.S.$			61			0.6829			Prepaid Exp / (Accrued Exp)			1.6			(0.1)			1.5
			zł			532			£			98			0.1833			(Accrued Exp)			—			(4.1)			(4.1)
			U.S.$			120			€			112			0.9271			Prepaid Exp / (Accrued Exp)			2.6			(0.1)			2.5
Total fair value of derivative financial instruments																					$	15.0		$	(52.9)		$	(37.9)

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
In millions						May 4, 2024			April 29, 2023
Fair value hedges:
Intercompany balances, primarily debt			Selling, general and administrative expenses			$	1		$	6
Economic hedges for which hedge accounting was not elected:
Diesel fuel contracts			Cost of sales, including buying and occupancy costs			(5)			(18)
Intercompany billings in TJX International, primarily merchandise			Cost of sales, including buying and occupancy costs			(0)			(0)
Merchandise purchase commitments			Cost of sales, including buying and occupancy costs			11			8
Gain (loss) recognized in income						$	7		$	(4)

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- References

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- 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

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-Name Accounting Standards Codification
-Topic 815
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-Name Accounting Standards Codification
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-Publisher FASB
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- 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

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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
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-Publisher FASB
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