XML 60 R40.htm IDEA: XBRL DOCUMENT v3.25.1

Pension Plans and Other Retirement Benefits (Tables)

12 Months Ended

Feb. 01, 2025

Retirement Benefits [Abstract]

Summary of Financial Information Related to Funded Defined Benefit Pension Plan and Unfunded Supplemental Retirement Plan

Presented below is financial information relating to TJX’s funded defined benefit pension plan (“qualified pension plan” or “funded plan”) and its unfunded supplemental pension plan (“unfunded plan”) for the fiscal years indicated. The Company has elected the practical expedient pursuant to ASU 2015-4–Compensation-retirement benefits (Topic 715) and has selected the measurement date of January 31, the calendar month end closest to the Company’s fiscal year-end.

			Funded Plan Fiscal Year Ended						Unfunded Plan Fiscal Year Ended
In millions			February 1, 2025			February 3, 2024			February 1, 2025			February 3, 2024
Change in projected benefit obligation:
Projected benefit obligation at beginning of year			$	1,285		$	1,343		$	105		$	109
Service cost			32			33			2			2
Interest cost			71			72			6			6
Actuarial losses (gains)			(45)			(37)			(2)			0
Benefits paid			(71)			(111)			(4)			(12)
Expenses paid			(3)			(4)			—			—
Plan amendments			2			(11)			—			—
Projected benefit obligation at end of year			$	1,271		$	1,285		$	107		$	105
Accumulated benefit obligation at end of year			$	1,180		$	1,187		$	95		$	92

			Funded Plan Fiscal Year Ended						Unfunded Plan Fiscal Year Ended
In millions			February 1, 2025			February 3, 2024			February 1, 2025			February 3, 2024
Change in plan assets:
Fair value of plan assets at beginning of year			$	1,451		$	1,475		$	—		$	—
Actual return on plan assets			73			91			—			—
Employer contribution			0			0			4			12
Benefits paid			(71)			(111)			(4)			(12)
Expenses paid			(3)			(4)			—			—
Fair value of plan assets at end of year			$	1,450		$	1,451		$	—		$	—
Reconciliation of funded status:
Projected benefit obligation at end of year			$	1,271		$	1,285		$	107		$	105
Fair value of plan assets at end of year			1,450			1,451			—			—
Funded status – excess (asset) obligation			$	(179)		$	(166)		$	107		$	105
Net (asset) liability recognized on Consolidated Balance Sheets			$	(179)		$	(166)		$	107		$	105
Amounts not yet reflected in net periodic benefit cost and included in Accumulated other comprehensive (loss) income:
Prior service cost			$	(8)		$	(11)		$	—		$	—
Accumulated actuarial losses			41			78			13			17
Amounts included in Accumulated other comprehensive (loss) income			$	33		$	67		$	13		$	17

Summary of Weighted Average Assumptions for Obligation

Presented below are weighted average assumptions for measurement purposes for determining the obligation at the year-end measurement date:

			Funded Plan Fiscal Year Ended						Unfunded Plan Fiscal Year Ended
			February 1, 2025			February 3, 2024			February 1, 2025			February 3, 2024
Discount rate			6.10		%	5.70		%	6.10		%	5.80		%
Rate of compensation increase			4.00		%	4.00		%	4.00		%	4.00		%

Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income (Loss)

The following are the components of net periodic benefit cost and other amounts recognized in other comprehensive income (loss) related to the Company’s pension plans:  

			Funded Plan Fiscal Year Ended									Unfunded Plan Fiscal Year Ended
In millions			February 1, 2025			February 3, 2024			January 28, 2023			February 1, 2025			February 3, 2024			January 28, 2023
Net periodic pension cost:
Service cost			$	32		$	33		$	48		$	2		$	2		$	2
Interest cost			71			72			58			6			6			4
Expected return on plan assets			(81)			(80)			(89)			—			—			—
Amortization of prior service cost			(1)			0			0			—			—			—
Amortization of net actuarial loss			—			—			18			2			2			4
Total expense			$	21		$	25		$	35		$	10		$	10		$	10
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net (gain) loss			$	(37)		$	(48)		$	(153)		$	(2)		$	0		$	(9)
Prior service cost (credit)			2			(11)			—			—			—			—
Amortization of net (loss)			—			—			(18)			(2)			(2)			(4)
Amortization of prior service cost			1			0			0			—			—			—
Total (gain) loss recognized in other comprehensive income			$	(34)		$	(59)		$	(171)		$	(4)		$	(2)		$	(13)
Total recognized in net periodic benefit cost and other comprehensive income (loss)			$	(13)		$	(34)		$	(136)		$	6		$	8		$	(3)
Weighted average assumptions for expense purposes:
Discount rate			5.70		%	5.40		%	3.40		%	5.80		%	5.60		%	3.30		%
Expected rate of return on plan assets			5.75		%	5.50		%	5.25		%	N/A			N/A			N/A
Rate of compensation increase			4.00		%	4.00		%	4.00		%	4.00		%	4.00		%	4.00		%

Schedule of Benefits Expected to be Paid in Each of Next Five Fiscal Years and Thereafter

The following is a schedule of the benefits expected to be paid in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter:

In millions			Funded Plan Expected Benefit Payments			Unfunded Plan Expected Benefit Payments
Fiscal Year:
2026			$	87		$	8
2027			90			6
2028			95			11
2029			99			54
2030			101			8
2031 through 2035			534			41

Summary of Fair Value for Pension Assets Measured at Fair Value on Recurring Basis

The following tables present the fair value hierarchy for pension assets measured at fair value on a recurring basis:

			Funded Plan at February 1, 2025
In millions			Level 1			Level 2			Total
Asset category:
Short-term investments			$	27		$	—		$	27
Equity Securities			38			—			38
Fixed Income Securities:
Corporate and government bond funds			—			1,090			1,090
Futures Contracts			—			2			2
Total assets in the fair value hierarchy			$	65		$	1,092		$	1,157
Assets measured at net asset value(a)			—			—			293
Fair value of assets			$	65		$	1,092		$	1,450

			Funded Plan at February 3, 2024
In millions			Level 1			Level 2			Total
Asset category:
Short-term investments			$	43		$	—		$	43
Equity Securities			49			—			49
Fixed Income Securities:
Corporate and government bond funds			—			1,024			1,024
Futures Contracts			—			(4)			(4)
Total assets in the fair value hierarchy			$	92		$	1,020		$	1,112
Assets measured at net asset value(a)			—			—			339
Fair value of assets			$	92		$	1,020		$	1,451

(a)In accordance with Subtopic 820-10, certain investments that were measured using net asset value per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the fair value of assets presented above.

Summary of Target Allocation for Plan Assets Along with Actual Allocation of Plan Assets as of Valuation Date

Following is the asset allocation under the qualified pension plan as of the valuation date for the fiscal years presented:

			February 1, 2025			February 3, 2024
Return-seeking assets			27		%	32		%
Liability-hedging assets			71		%	65		%
All other – primarily cash			2		%	3		%

X

- Definition

Components Of Net Periodic Benefit Cost And Other Amounts Recognized In Other Comprehensive Income [Table Text Block]

+ References

No definition available.

+ Details

Name:	tjx_ComponentsOfNetPeriodicBenefitCostAndOtherAmountsRecognizedInOtherComprehensiveIncomeTableTextBlock
Namespace Prefix:	tjx_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Defined Benefit Plan Fair Value Of Plan Assets Measured At Recurring Basis [Table Text Block]

+ References

No definition available.

+ Details

Name:	tjx_DefinedBenefitPlanFairValueOfPlanAssetsMeasuredAtRecurringBasisTableTextBlock
Namespace Prefix:	tjx_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

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

X

- Definition

Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (d)(5)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

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

X

- Definition

Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (k)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

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

X

- Definition

Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (f)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

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

X

- Definition

Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (h)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

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