Capital Stock And Earnings Per Share

9 Months Ended

Oct. 29, 2011

Capital Stock And Earnings Per Share [Abstract]

Capital Stock And Earnings Per Share

Note E. Capital Stock and Earnings Per Share

Capital Stock: During the quarter ended October 29, 2011, TJX repurchased and retired 5.5 million shares of its common stock at a cost of $295.1 million. For the nine months ended October 29, 2011, TJX repurchased and retired 18.6 million shares of its common stock at a cost of $967.7 million. TJX reflects stock repurchases in its financial statements on a "settlement" basis. TJX had cash expenditures under its repurchase programs of $974.8 million for the nine months ended October 29, 2011 and $845.5 million for the nine months ended October 30, 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 program, on a "trade date" basis at October 29, 2011, TJX repurchased 6.9 million shares of common stock at a cost of $373.4 million and $626.6 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
	October 29,		October 30,
In thousands, except per share data	2011		2010
Basic earnings per share
Net income	$	406,487	$	372,309
Weighted average common shares outstanding for basic EPS		377,137		397,217
Basic earnings per share	$	1.08	$	0.94
Diluted earnings per share
Net income	$	406,487	$	372,309
Shares for basic and diluted earnings per share calculations:
Weighted average common shares outstanding for basic EPS		377,137		397,217
Assumed exercise/vesting of:
Stock options and awards		5,889		5,823
Weighted average common shares outstanding for diluted EPS		383,026		403,040
Diluted earnings per share	$	1.06	$	0.92

	Thirty-Nine Weeks Ended
	October 29,		October 30,
In thousands, except per share data	2011		2010
Basic earnings per share
Net income	$	1,020,776	$	1,008,727
Weighted average common shares outstanding for basic EPS		382,324		402,969
Basic earnings per share	$	2.67	$	2.50
Diluted earnings per share
Net income	$	1,020,776	$	1,008,727
Shares for basic and diluted earnings per share calculations:
Weighted average common shares outstanding for basic EPS		382,324		402,969
Assumed exercise/vesting of:
Stock options and awards		6,165		6,315
Weighted average common shares outstanding for diluted EPS		388,489		409,284
Diluted earnings per share	$	2.63	$	2.46

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 ended October 29, 2011. There were 3.9 million options excluded for the thirty-nine weeks ended October 29, 2011. There were no such options for the thirteen weeks or the thirty-nine weeks ended October 30, 2010.