Financial Instruments (Tables)

12 Months Ended

Jan. 31, 2015

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 January 31, 2015:

In thousands	Pay		Receive		Blended Contract Rate		Balance Sheet Location			Current Asset U.S.$		Current (Liability) U.S.$			Net Fair Value in U.S.$ at January 31, 2015
Fair value hedges:
Intercompany balances, primarily debt and related interest
		zł    94,073		C$ 32,318		0.3435		Prepaid Exp/ (Accrued Exp)		$	153	$	(81	)	$	72
		€     39,000		£ 30,988		0.7946		Prepaid Exp/ (Accrued Exp)			2,536		(72	)		2,464
		€     19,850		U.S.$ 22,647		1.1409		Prepaid Exp			108		—			108
		U.S.$    83,401		£ 55,000		0.6595		(Accrued Exp)			—		(725	)		(725	)
Economic hedges for which hedge accounting was not elected:
Diesel contracts		Fixed on 1.2M —1.9M gal per month		Float on 1.2M —1.9M gal per month		N/A		(Accrued Exp	)		—		(15,324	)		(15,324	)
Merchandise purchase commitments
		C$ 322,492		U.S.$ 281,890		0.8741		Prepaid Exp			28,789		—			28,789
		C$   13,426		€     9,500		0.7076		Prepaid Exp			183		—			183
		£   77,722		U.S.$ 123,500		1.5890		Prepaid Exp			6,477		—			6,477
		zł 139,215		£   25,547		0.1835		Prepaid Exp / (Accrued Exp)			1,172		(166	)		1,006
		U.S.$   12,590		€    10,353		0.8223		Prepaid Exp / (Accrued Exp)			1		(898	)		(897	)
Total fair value of financial instruments										$	39,419	$	(17,266	)	$	22,153

The following is a summary of TJX’s derivative financial instruments, related fair value and balance sheet classification at February 1, 2014:

In thousands	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, 2014
Fair value hedges:
Intercompany balances, primarily debt and related interest
		zł     84,073		C$     29,082		0.3459		(Accrued Exp)	$	—	$	(348	)	$	(348	)
		€     39,000		£     32,646		0.8371		Prepaid Exp		1,015		—			1,015
		€     44,850		U.S.$     60,827		1.3562		Prepaid Exp		335		—			335
		U.S.$     90,309		£     55,000		0.6090		(Accrued Exp)		—		(182	)		(182	)
Economic hedges for which hedge accounting was not elected:
Diesel contracts		Fixed on 1.2M —1.9M gal per month		Float on 1.2M —1.9M gal per month		N/A		Prepaid Exp		137		—			137
Merchandise purchase commitments
		C$    388,745		U.S.$   365,100		0.9392		Prepaid Exp / (Accrued Exp)		16,466		(40	)		16,426
		C$      15,202		€     10,500		0.6907		Prepaid Exp / (Accrued Exp)		548		(38	)		510
		£    174,102		U.S.$   280,700		1.6123		Prepaid Exp / (Accrued Exp)		132		(5,385	)		(5,253	)
		zł     113,571		£     22,442		0.1976		Prepaid Exp		984		—			984
		U.S.$            442		¥        2,680		6.0633		Prepaid Exp		—		—			—
		U.S.$       12,464		€        9,159		0.7348		Prepaid Exp / (Accrued Exp)		2		(114	)		(112	)
Total fair value of financial instruments									$	19,619	$	(6,107	)	$	13,512

Impact of Derivative Financial Instruments on Statements of Income

The impact of derivative financial instruments on the statements of income during fiscal 2015, fiscal 2014 and fiscal 2013 are as follows:

		Amount of Gain (Loss) Recognized in Income by Derivative
In thousands	Location of Gain (Loss) Recognized in Income by Derivative	January 31, 2015			February 1, 2014			February 2, 2013
		(53 weeks)
Fair value hedges:
Intercompany balances, primarily debt and related interest	Selling, general and administrative expenses	$	7,413		$	6,099		$	(7,661	)
Economic hedges for which hedge accounting was not elected:
Diesel contracts	Cost of sales, including buying and occupancy costs		(16,050	)		(1,831	)		4,261
Merchandise purchase commitments	Cost of sales, including buying and occupancy costs		41,554			22,338			(2,084	)
Gain / (loss) recognized in income		$	32,917		$	26,606		$	(5,484	)