XML 39 R28.htm IDEA: XBRL DOCUMENT v3.24.2.u1

Financial Instruments (Tables)

6 Months Ended

Aug. 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 August 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 August 3, 2024
Fair value hedges:
Intercompany balances, primarily debt:
			€			78			£			67			0.8546			Prepaid Exp / (Accrued Exp)			$	0.3		$	(0.7)		$	(0.4)
			A$			210			U.S.$			139			0.6637			Prepaid Exp			2.2			—			2.2
			U.S.$			70			£			55			0.7898			Prepaid Exp			0.7			—			0.7
			£			100			U.S.$			127			1.2712			Prepaid Exp / (Accrued Exp)			0.5			(1.6)			(1.1)
			€			200			U.S.$			219			1.0949			Prepaid Exp / (Accrued Exp)			0.6			(1.3)			(0.7)
Economic hedges for which hedge accounting was not elected:
			Diesel fuel contracts			Fixed on 3.1M – 4.2M gal per month			Float on 3.1M – 4.2M gal per month						N/A			(Accrued Exp)			—			(15.6)			(15.6)
Intercompany billings in TJX International, primarily merchandise:
			€			157			£			132			0.8408			(Accrued Exp)			—			(2.4)			(2.4)
Merchandise purchase commitments:
			C$			899			U.S.$			660			0.7340			Prepaid Exp			10.5			—			10.5
			C$			33			€			22			0.6745			Prepaid Exp			0.5			—			0.5
			£			434			U.S.$			551			1.2704			Prepaid Exp / (Accrued Exp)			0.8			(5.8)			(5.0)
			zł			554			£			109			0.1970			Prepaid Exp / (Accrued Exp)			0.2			(1.1)			(0.9)
			A$			120			U.S.$			80			0.6677			Prepaid Exp			1.8			—			1.8
			U.S.$			136			€			125			0.9200			Prepaid Exp / (Accrued Exp)			1.0			(0.1)			0.9
Total fair value of derivative financial instruments																					$	19.1		$	(28.6)		$	(9.5)

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 July 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  July 29, 2023
Fair value hedges:
Intercompany balances, primarily debt:
			€			60			£			52			0.8738			Prepaid Exp			$	0.6		$	—		$	0.6
			A$			162			U.S.$			112			0.6926			Prepaid Exp			3.5			—			3.5
			U.S.$			69			£			55			0.8010			Prepaid Exp			2.0			—			2.0
			£			200			U.S.$			244			1.2191			(Accrued Exp)			—			(13.4)			(13.4)
			€			200			U.S.$			219			1.0964			Prepaid Exp / (Accrued Exp)			0.3			(3.3)			(3.0)
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)			—			(2.0)			(2.0)
Intercompany billings in TJX International, primarily merchandise:
			€			107			£			91			0.8526			(Accrued Exp)			—			(0.8)			(0.8)
Merchandise purchase commitments:
			C$			876			U.S.$			655			0.7473			Prepaid Exp / (Accrued Exp)			0.2			(9.0)			(8.8)
			C$			28			€			19			0.6799			Prepaid Exp / (Accrued Exp)			0.1			(0.3)			(0.2)
			£			376			U.S.$			468			1.2462			Prepaid Exp / (Accrued Exp)			0.5			(15.5)			(15.0)
			zł			605			£			114			0.1878			(Accrued Exp)			—			(4.4)			(4.4)
			A$			96			U.S.$			65			0.6810			Prepaid Exp			1.3			—			1.3
			U.S.$			110			€			101			0.9139			Prepaid Exp / (Accrued Exp)			1.3			(0.3)			1.0
Total fair value of derivative financial instruments																					$	9.8		$	(49.0)		$	(39.2)

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 (Loss) Gain Recognized in Income by Derivative
			Location of (Loss) Gain Recognized in Income by Derivative			Thirteen Weeks Ended						Twenty-Six Weeks Ended
In millions						August 3, 2024			July 29, 2023			August 3, 2024			July 29, 2023
Fair value hedges:
Intercompany balances, primarily debt			Selling, general and administrative expenses			$	(0)		$	(3)		$	1		$	3
Economic hedges for which hedge accounting was not elected:
Diesel fuel contracts			Cost of sales, including buying and occupancy costs			(11)			10			(16)			(8)
Intercompany billings in TJX International, primarily merchandise			Cost of sales, including buying and occupancy costs			1			4			1			4
Merchandise purchase commitments			Cost of sales, including buying and occupancy costs			3			(30)			14			(22)
(Loss) gain recognized in income						$	(7)		$	(19)		$	0		$	(23)

X

- References

No definition available.

+ Details

Name:	us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration