Note E. Capital Stock and Earnings Per Share

Capital Stock: During the quarter ended April 30, 2011, TJX repurchased and retired 7.1 million shares of its common stock at a cost of $361.1 million. TJX reflects stock repurchases in its financial statements on a “settlement” basis. TJX had cash expenditures under its repurchase programs of $338.3 million for the quarter ended April 30, 2011 and $230.2 million for the quarter ended May 1, 2010. These expenditures were funded primarily by cash generated from operations. In October 2010, TJX completed the $1 billion stock repurchase program authorized in September 2009 under which TJX repurchased 24.1 million shares of common stock. In February 2010, TJX’s Board of Directors approved another stock repurchase program that authorizes the repurchase of up to $1 billion of TJX common stock from time to time. Under this plan, on a “trade date” basis, TJX repurchased 16.1 million shares of common stock at a cost of $766.8 million and $233.2 million remained available under this plan at April 30, 2011. All shares repurchased under the stock repurchase programs have been retired.

In February 2011, TJX’s Board of Directors approved a new stock repurchase program that authorizes the repurchase of up to an additional $1 billion of TJX common stock from time to time.

TJX has five million shares of authorized but unissued preferred stock, $1 par value.

Earnings per share: The following schedule presents the calculation of basic and diluted earnings per share (“EPS”) for net income:


	Thirteen Weeks Ended
	April 30,		May 1,
In thousands, except per share data	2011		2010
Basic earnings per share
Net income	$	265,951	$	331,434
Weighted average common shares outstanding for basic EPS		387,978		408,053

Basic earnings per share — continuing operations	$	0.69	$	0.81

Diluted earnings per share
Net income	$	265,951	$	331,434

Shares for basic and diluted earnings per share calculations:
Weighted average common shares outstanding for basic EPS		387,978		408,053
Assumed conversion/exercise/vesting of:
Stock options and awards		6,026		6,347

Weighted average common shares outstanding for diluted EPS		394,004		414,400


Diluted earnings per share	$	0.67	$	0.80