Financial Instruments (Tables)

3 Months Ended

May 02, 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 May 2, 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 May 2, 2015
Fair value hedges:
Intercompany balances, primarily debt and related interest
	zł	94,073	C$	32,344		0.3438	Prepaid Exp / (Accrued Exp)	$	801	$	(13	)	$	788
	€	39,000	£	30,988		0.7946	Prepaid Exp		3,165		—			3,165
	€	19,850	U.S.$	22,647		1.1409	Prepaid Exp		314		—			314
	U.S.$	83,400	£	55,000		0.6595	(Accrued Exp)		—		(223	)		(223	)
Economic hedges for which hedge accounting was not elected:
Diesel contracts		Fixed on 2.6M – 3.0M gal per month		Float on 2.6M – 3.0M gal per month		N/A	(Accrued Exp)		—		(7,311	)		(7,311	)
Merchandise purchase commitments
	C$	461,464	U.S.$	375,455		0.8136	Prepaid Exp / (Accrued Exp)		3,200		(6,926	)		(3,726	)
	C$	14,596	€	10,500		0.7194	Prepaid Exp / (Accrued Exp)		54		(297	)		(243	)
	£	167,715	U.S.$	256,000		1.5264	Prepaid Exp / (Accrued Exp)		3,637		(1,603	)		2,034
	zł	169,058	£	30,156		0.1784	Prepaid Exp / (Accrued Exp)		57		(773	)		(716	)
	U.S.$	22,198	€	20,228		0.9113	Prepaid Exp / (Accrued Exp)		637		(163	)		474
Total fair value of financial instruments								$	11,865	$	(17,309	)	$	(5,444	)

The following is a summary of TJX’s derivative financial instruments, related fair value and balance sheet classification at May 3, 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 May 3, 2014
Fair value hedges:
Intercompany balances, primarily debt and related interest
	zł	87,073	C$	30,585		0.3513	Prepaid Exp / (Accrued Exp)	$	26	$	(651	)	$	(625	)
	€	39,000	£	32,369		0.8300	Prepaid Exp / (Accrued Exp)		513		(49	)		464
	€	44,850	U.S.$	61,842		1.3789	(Accrued Exp)		—		(350	)		(350	)
	U.S.$	90,309	£	55,000		0.6090	Prepaid Exp		2,248		—			2,248
Economic hedges for which hedge accounting was not elected:
Diesel contracts		Fixed on 1.6M - 1.8M gal per month		Float on 1.6M - 1.8M gal per month		N/A	Prepaid Exp		1,001		—			1,001
Merchandise purchase commitments
	C$	411,075	U.S.$	374,675		0.9115	Prepaid Exp / (Accrued Exp)		3,346		(2,621	)		725
	C$	15,483	€	10,200		0.6588	Prepaid Exp / (Accrued Exp)		56		(8	)		48
	£	145,258	U.S.$	236,200		1.6261	(Accrued Exp)		—		(8,698	)		(8,698	)
	zł	128,099	£	25,079		0.1958	Prepaid Exp / (Accrued Exp)		265		(54	)		211
	U.S.$	23,376	€	17,001		0.7273	Prepaid Exp / (Accrued Exp)		207		(8	)		199
	U.S.$	844	¥	5,138		6.0877	(Accrued Exp)		—		(24	)		(24	)
Total fair value of financial instruments								$	7,662	$	(12,463	)	$	(4,801	)

Impact of Derivative Financial Instruments on Statements of Income

Presented below is the impact of derivative financial instruments on the statements of income for the periods shown:

		Amount of Gain (Loss) Recognized in Income by Derivative
		Thirteen Weeks Ended
In thousands	Location of Gain (Loss) Recognized in Income by Derivative	May 2, 2015			May 3, 2014
Fair value hedges:
Intercompany balances, primarily debt and related interest	Selling, general and administrative expenses	$	2,044		$	(58	)
Economic hedges for which hedge accounting was not elected:
Diesel fuel contracts	Cost of sales, including buying and occupancy costs		2,200			1,226
Merchandise purchase commitments	Cost of sales, including buying and occupancy costs		(13,652	)		(12,318	)
Gain / (loss) recognized in income		$	(9,408	)	$	(11,150	)