Capital Stock And Earnings Per Share

6 Months Ended

Jul. 30, 2011

Capital Stock And Earnings Per Share

Note E. Capital Stock and Earnings Per Share

Capital Stock: During the quarter ended July 30, 2011, TJX repurchased and retired 5.9 million shares of its common stock at a cost of $311.4 million. For the six months ended July 30, 2011, TJX repurchased and retired 13.1 million shares of its common stock at a cost of $672.5 million. TJX reflects stock repurchases in its financial statements on a "settlement" basis. TJX had cash expenditures under its repurchase programs of $671.3 million for the six months ended July 30, 2011 and $574.7 million for the six months ended July 31, 2010. These expenditures were funded primarily by cash generated from operations. In June 2011, TJX completed the $1 billion stock repurchase program authorized in February 2010 under which TJX repurchased 20.6 million shares of common stock.

In February 2011, 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 at July 30, 2011, TJX repurchased 1.4 million shares of common stock at a cost of $78.3 million and $921.7 million remained available under this plan. All shares repurchased under the stock repurchase programs have been retired.

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
	July 30,		July 31,
In thousands, except per share data	2011		2010

Basic earnings per share
Net income	$	348,338	$	304,984
Weighted average common shares outstanding for basic EPS		381,857		403,708

Basic earnings per share	$	0.91	$	0.76

Diluted earnings per share
Net income	$	348,338	$	304,984

Shares for basic and diluted earnings per share calculations:
Weighted average common shares outstanding for basic EPS		381,857		403,708
Assumed exercise/vesting of:
Stock options and awards		5,768		6,034

Weighted average common shares outstanding for diluted EPS		387,625		409,742


Diluted earnings per share	$	0.90	$	0.74


	Twenty-Six Weeks Ended
	July 30,		July 31,
In thousands, except per share data	2011		2010

Basic earnings per share
Net income	$	614,289	$	636,418
Weighted average common shares outstanding for basic EPS		384,918		405,880

Basic earnings per share	$	1.60	$	1.57

Diluted earnings per share
Net income	$	614,289	$	636,418

Shares for basic and diluted earnings per share calculations:
Weighted average common shares outstanding for basic EPS		384,918		405,880
Assumed exercise/vesting of:
Stock options and awards		6,173		6,514

Weighted average common shares outstanding for diluted EPS		391,091		412,394


Diluted earnings per share	$	1.57	$	1.54

The weighted average common shares for the diluted earnings per share calculation would exclude the impact of any outstanding stock options for which the assumed proceeds per share are in excess of the related fiscal period's average price of TJX's common stock because they would have an antidilutive effect. There were no such options for the thirteen weeks or the twenty-six weeks ended July 30, 2011 and July 31, 2010.

- Definition

Disclosures related to accounts comprising shareholders' equity, including other comprehensive income. Includes: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables; effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

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