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Financial Instruments (Tables)

9 Months Ended

Nov. 02, 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 November 2, 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 November 2, 2024
Fair value hedges:
Intercompany balances, primarily debt:
			€			78			£			67			0.8546			Prepaid Exp			$	1.3		$	—		$	1.3
			A$			210			U.S.$			139			0.6637			Prepaid Exp			1.5			—			1.5
			U.S.$			70			£			55			0.7898			Prepaid Exp			1.3			—			1.3
			£			100			U.S.$			127			1.2712			(Accrued Exp)			—			(2.3)			(2.3)
			€			200			U.S.$			219			1.0970			Prepaid Exp / (Accrued Exp)			0.6			(0.2)			0.4
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)			—			(16.3)			(16.3)
Intercompany billings in TJX International, primarily merchandise:
			€			181			£			151			0.8341			(Accrued Exp)			—			(1.2)			(1.2)
Merchandise purchase commitments:
			C$			834			U.S.$			610			0.7318			Prepaid Exp			10.5			—			10.5
			C$			33			€			22			0.6636			Prepaid Exp / (Accrued Exp)			0.1			(0.0)			0.1
			£			478			U.S.$			619			1.2960			Prepaid Exp / (Accrued Exp)			4.7			(3.5)			1.2
			zł			524			£			102			0.1951			Prepaid Exp / (Accrued Exp)			2.3			(0.1)			2.2
			A$			92			U.S.$			62			0.6694			Prepaid Exp			1.2			—			1.2
			U.S.$			127			€			116			0.9114			Prepaid Exp / (Accrued Exp)			0.1			(1.4)			(1.3)
Total fair value of derivative financial instruments																					$	23.6		$	(25.0)		$	(1.4)

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 October 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  October 28, 2023
Fair value hedges:
Intercompany balances, primarily debt:
			€			60			£			52			0.8738			(Accrued Exp)			$	—		$	(0.1)		$	(0.1)
			A$			150			U.S.$			104			0.6937			Prepaid Exp			8.4			—			8.4
			U.S.$			69			£			55			0.8010			(Accrued Exp)			—			(2.0)			(2.0)
			£			150			U.S.$			186			1.2396			Prepaid Exp			3.9			—			3.9
			€			200			U.S.$			220			1.1008			Prepaid Exp			7.8			—			7.8
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			Prepaid Exp			2.7			—			2.7
Intercompany billings in TJX International, primarily merchandise:
			€			118			£			102			0.8646			(Accrued Exp)			—			(1.1)			(1.1)
Merchandise purchase commitments:
			C$			773			U.S.$			575			0.7440			Prepaid Exp			16.8			—			16.8
			C$			35			€			24			0.6826			Prepaid Exp / (Accrued Exp)			0.2			(0.1)			0.1
			£			365			U.S.$			458			1.2537			Prepaid Exp / (Accrued Exp)			14.7			(0.1)			14.6
			zł			581			£			110			0.1900			(Accrued Exp)			—			(3.6)			(3.6)
			A$			58			U.S.$			39			0.6677			Prepaid Exp			1.9			—			1.9
			U.S.$			120			€			110			0.9190			(Accrued Exp)			—			(3.2)			(3.2)
Total fair value of derivative financial instruments																					$	56.4		$	(10.2)		$	46.2

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						Thirty-Nine Weeks Ended
In millions						November 2, 2024			October 28, 2023			November 2, 2024			October 28, 2023
Fair value hedges:
Intercompany balances, primarily debt			Selling, general and administrative expenses			$	2		$	26		$	3		$	29
Economic hedges for which hedge accounting was not elected:
Diesel fuel contracts			Cost of sales, including buying and occupancy costs			(6)			2			(22)			(6)
Intercompany billings in TJX International, primarily merchandise			Cost of sales, including buying and occupancy costs			4			(2)			5			2
Merchandise purchase commitments			Cost of sales, including buying and occupancy costs			1			49			15			27
Gain recognized in income						$	1		$	75		$	1		$	52

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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
-SubTopic 10
-Section 50
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-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

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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
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B

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