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Financial Instruments (Tables) | 3 Months Ended
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May 03, 2025
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 3, 2025:
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 3, 2025
Fair value hedges: |  |  |  |  |  |  |
Intercompany balances, primarily debt: |  |  |
| € | 80 |  | £ | 68 |  | 0.8522 |  | (Accrued Exp) | $ | — |  | $ | (0.5) |  | $ | (0.5) |
| A$ | 210 |  | U.S.$ | 135 |  | 0.6420 |  | Prepaid Exp / (Accrued Exp) | 1.4 |  | (2.1) |  | (0.7) |
| U.S.$ | 67 |  | £ | 55 |  | 0.8177 |  | Prepaid Exp | 5.8 |  | — |  | 5.8 |
| £ | 50 |  | U.S.$ | 61 |  | 1.2222 |  | (Accrued Exp) | — |  | (5.3) |  | (5.3) |
| € | 200 |  | U.S.$ | 220 |  | 1.1005 |  | Prepaid Exp/ (Accrued Exp) | 0.1 |  | (9.0) |  | (8.9) |
Economic hedges for which hedge accounting was not elected: |  |  |
| Diesel fuel contracts | Fixed on 3.1M – 4.1M gal per month | Float on 3.1M – 4.1M gal per month | N/A | (Accrued Exp) | — |  | (16.1) |  | (16.1) |
Intercompany billings in TJX International, primarily merchandise: |  |
| € | 195 |  | £ | 167 |  | 0.8549 |  | Prepaid Exp | 0.8 |  | — |  | 0.8 |
Merchandise purchase commitments: |  |  |  |  |
| C$ | 926 |  | U.S.$ | 655 |  | 0.7070 |  | (Accrued Exp) | — |  | (18.1) |  | (18.1) |
| C$ | 31 |  | € | 20 |  | 0.6546 |  | Prepaid Exp / (Accrued Exp) | 0.5 |  | (0.0) |  | 0.5 |
| £ | 488 |  | U.S.$ | 624 |  | 1.2778 |  | Prepaid Exp / (Accrued Exp) | 0.5 |  | (24.9) |  | (24.4) |
| zł | 489 |  | £ | 95 |  | 0.1950 |  | Prepaid Exp / (Accrued Exp) | 0.1 |  | (2.4) |  | (2.3) |
| A$ | 93 |  | U.S.$ | 59 |  | 0.6346 |  | Prepaid Exp / (Accrued Exp) | 0.0 |  | (0.9) |  | (0.9) |
| U.S.$ | 109 |  | € | 101 |  | 0.9204 |  | Prepaid Exp / (Accrued Exp) | 5.1 |  | (0.2) |  | 4.9 |
Total fair value of derivative financial instruments |  | $ | 14.3 |  | $ | (79.5) |  | $ | (65.2) |
The following is a summary of TJX’s derivative financial instruments, related fair value and balance sheet classification at February 1, 2025:
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 1, 2025
Fair value hedges: |  |  |  |  |  |  |
Intercompany balances, primarily debt: |  |  |
| € | 79 |  | £ | 67 |  | 0.8523 |  | Prepaid Exp / (Accrued Exp) | $ | 0.7 |  | $ | (0.1) |  | $ | 0.6 |
| A$ | 210 |  | U.S.$ | 135 |  | 0.6420 |  | Prepaid Exp | 3.5 |  | — |  | 3.5 |
| U.S.$ | 67 |  | £ | 55 |  | 0.8177 |  | Prepaid Exp | 0.8 |  | — |  | 0.8 |
| £ | 50 |  | U.S.$ | 61 |  | 1.2222 |  | (Accrued Exp) | — |  | (0.9) |  | (0.9) |
| € | 200 |  | U.S.$ | 217 |  | 1.0852 |  | Prepaid Exp / (Accrued Exp) | 7.6 |  | (0.4) |  | 7.2 |
Economic hedges for which hedge accounting was not elected: |  |  |
| Diesel fuel contracts | Fixed on 3.1M – 3.9M gal per month | Float on 3.1M– 3.9M gal per month | N/A | (Accrued Exp) | — |  | (9.1) |  | (9.1) |
Intercompany billings in TJX International, primarily merchandise: |  |
| € | 175 |  | £ | 148 |  | 0.8442 |  | Prepaid Exp | 1.5 |  | — |  | 1.5 |
Merchandise purchase commitments: |  |  |  |
| C$ | 873 |  | U.S.$ | 625 |  | 0.7159 |  | Prepaid Exp | 21.9 |  | — |  | 21.9 |
| C$ | 33 |  | € | 22 |  | 0.6673 |  | Prepaid Exp / (Accrued Exp) | 0.1 |  | (0.0) |  | 0.1 |
| £ | 416 |  | U.S.$ | 530 |  | 1.2742 |  | Prepaid Exp / (Accrued Exp) | 15.2 |  | (1.1) |  | 14.1 |
| zł | 552 |  | £ | 107 |  | 0.1933 |  | (Accrued Exp) | — |  | (3.5) |  | (3.5) |
| A$ | 81 |  | U.S.$ | 52 |  | 0.6448 |  | Prepaid Exp / (Accrued Exp) | 1.7 |  | (0.1) |  | 1.6 |
| U.S.$ | 87 |  | € | 82 |  | 0.9317 |  | Prepaid Exp / (Accrued Exp) | 0.1 |  | (2.9) |  | (2.8) |
Total fair value of derivative financial instruments |  | $ | 53.1 |  | $ | (18.1) |  | $ | 35.0 |
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 |
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 |
In millions | May 3, 2025 | May 4, 2024 |  |
Fair value hedges: |  |  |  |  |
Intercompany balances, primarily debt | Selling, general and administrative expenses | $ | (23) |  | $ | 1 |  |  |
Economic hedges for which hedge accounting was not elected: |  |  |
Diesel fuel contracts | Cost of sales, including buying and occupancy costs | (12) |  | (5) |  |  |
Intercompany billings in TJX International, primarily merchandise | Cost of sales, including buying and occupancy costs | (3) |  | (0) |  |  |
Merchandise purchase commitments | Cost of sales, including buying and occupancy costs | (59) |  | 11 |  |  |
(Loss) Gain recognized in income | $ | (97) |  | $ | 7 |  |  |

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