Basis of Presentation and Summary of Significant Accounting Policies (Tables)

9 Months Ended

Nov. 02, 2019

Accounting Policies [Abstract]

Deferred gift card revenue

The following table presents deferred gift card revenue activity:

In thousands	November 2, 2019		November 3, 2018
Balance, beginning of year	$	450,302	$	406,506
Deferred revenue	1,104,694		1,096,333
Effect of exchange rates changes on deferred revenue	(636)		(6,561)
Revenue recognized	(1,149,613)		(1,138,507)
Balance, end of period	$	404,747	$	357,771

Impact of new lease standard on consolidated balance sheet line items

As a result of applying the new lease standard using the optional transition method, the following adjustments were made to accounts on the Condensed Consolidated Balance Sheet as of February 3, 2019:

In thousands	As Reported February 2, 2019		Adjustments			Adjusted February 3, 2019
CONDENSED CONSOLIDATED BALANCE SHEETS:
Prepaid expenses and other current assets	$	513,662	$	(149,029)	(a)	$	364,633
Net property at cost	5,255,208		(281,361)		(b),(f)	4,973,847
Operating lease right of use asset	—		8,704,584		(c)	8,704,584
Other assets	497,580		(30,086)		(b)	467,494
Total Assets	$	14,326,029	$	8,244,108		$	22,570,137
Accrued expenses and other current liabilities	2,733,076		(3,819)			2,729,257
Current portion of operating lease liabilities	—		1,481,555		(d)	1,481,555
Other long-term liabilities	1,354,242		(593,137)		(e),(f)	761,105
Long-term operating lease liabilities	—		7,359,106		(d)	7,359,106
Retained earnings	4,461,744		403		(f),(g)	4,462,147
Total Liabilities and Shareholders' Equity	$	14,326,029	$	8,244,108		$	22,570,137

(a)Represents prepaid rent reclassified to operating lease right of use assets and current portion of operating lease liabilities.

(b)Represents impact of reclassifying initial direct costs to operating lease right of use assets.

(c)Represents capitalization of operating lease right of use assets and reclassification of lease acquisition costs, straight-line rent, prepaid rent and tenant incentives.

(d)Represents recognition of current and long-term operating lease liabilities.

(e)Represents reclassification of straight-line rent to operating lease right of use assets.

(f)Represents de-recognition of assets and liabilities related to non-TJX owned properties under previously existing build-to-suit accounting rules.

(g)Represents impairment at transition on operating lease right of use assets.