Capital Stock and Earnings Per Share

9 Months Ended

Nov. 02, 2024

Equity [Abstract]

Capital Stock and Earnings Per Share

Capital Stock and Earnings Per Share

Capital Stock

In February 2024, the Company announced that its Board of Directors had approved a new stock repurchase program that authorizes the repurchase of up to an additional $2.5 billion of TJX common stock from time to time. Under this program, TJX had approximately $1.9 billion available for repurchase as of November 2, 2024.

The following table provides share repurchases, excluding applicable excise tax:

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
In millions	November 2, 2024		October 28, 2023		November 2, 2024		October 28, 2023
Total number of shares repurchased and retired	5.0		7.2		15.4		20.4
Total cost(a)	$	574	$	650	$	1,642	$	1,700

(a) Prior year amounts are recast to conform with current year presentation and exclude applicable excise tax.

All shares repurchased under the stock repurchase programs have been retired. These expenditures were funded by cash generated from operations.

Earnings Per Share

The following table presents the calculation of basic and diluted earnings per share:

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
Amounts in millions, except per share amounts	November 2, 2024		October 28, 2023		November 2, 2024		October 28, 2023
Basic earnings per share:
Net income	$	1,297	$	1,191	$	3,466	$	3,071
Weighted average common shares outstanding for basic earnings per share calculation	1,127		1,144		1,130		1,148
Basic earnings per share	$	1.15	$	1.04	$	3.07	$	2.68
Diluted earnings per share:
Net income	$	1,297	$	1,191	$	3,466	$	3,071
Weighted average common shares outstanding for basic earnings per share calculation	1,127		1,144		1,130		1,148
Assumed exercise/vesting of stock options and awards	14		14		14		13
Weighted average common shares outstanding for diluted earnings per share calculation	1,141		1,158		1,144		1,161
Diluted earnings per share	$	1.14	$	1.03	$	3.03	$	2.65
Cash dividends declared per share	$	0.375	$	0.3325	$	1.125	$	0.9975

The weighted average common shares for the diluted earnings per share calculation excludes the impact of outstanding stock options if the assumed proceeds per share of the option is in excess of the average price of TJX’s common stock for the related fiscal periods. Such options are excluded because they would have an antidilutive effect. There were 4 million options excluded for the thirteen weeks and thirty-nine weeks ended November 2, 2024. There were 5 million such options excluded for the thirteen weeks and thirty-nine weeks ended October 28, 2023.