FALSE2020Q30000109198--02-01P10YP5YP10YP15YP7YP10Y00001091982019-02-032019-11-02xbrli:shares00001091982019-11-02iso4217:USD00001091982019-08-042019-11-0200001091982018-08-052018-11-0300001091982018-02-042018-11-03iso4217:USDxbrli:shares00001091982019-02-0200001091982018-11-0300001091982018-02-0300001091982019-08-030000109198us-gaap:CommonStockMember2019-08-030000109198us-gaap:AdditionalPaidInCapitalMember2019-08-030000109198us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-08-030000109198us-gaap:RetainedEarningsMember2019-08-030000109198us-gaap:RetainedEarningsMember2019-08-042019-11-020000109198us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-08-042019-11-020000109198us-gaap:AdditionalPaidInCapitalMember2019-08-042019-11-020000109198us-gaap:CommonStockMember2019-08-042019-11-020000109198us-gaap:CommonStockMember2019-11-020000109198us-gaap:AdditionalPaidInCapitalMember2019-11-020000109198us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-11-020000109198us-gaap:RetainedEarningsMember2019-11-0200001091982018-08-040000109198us-gaap:CommonStockMember2018-08-040000109198us-gaap:AdditionalPaidInCapitalMember2018-08-040000109198us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-08-040000109198us-gaap:RetainedEarningsMember2018-08-040000109198us-gaap:RetainedEarningsMember2018-08-052018-11-030000109198us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-08-052018-11-030000109198us-gaap:AdditionalPaidInCapitalMember2018-08-052018-11-030000109198us-gaap:CommonStockMember2018-08-052018-11-030000109198us-gaap:CommonStockMember2018-11-030000109198us-gaap:AdditionalPaidInCapitalMember2018-11-030000109198us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-11-030000109198us-gaap:RetainedEarningsMember2018-11-030000109198us-gaap:CommonStockMember2019-02-020000109198us-gaap:AdditionalPaidInCapitalMember2019-02-020000109198us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-02-020000109198us-gaap:RetainedEarningsMember2019-02-020000109198us-gaap:RetainedEarningsMember2019-02-032019-11-020000109198us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-02-032019-11-020000109198us-gaap:AdditionalPaidInCapitalMember2019-02-032019-11-020000109198us-gaap:CommonStockMember2019-02-032019-11-020000109198us-gaap:CommonStockMember2018-02-030000109198us-gaap:AdditionalPaidInCapitalMember2018-02-030000109198us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-02-030000109198us-gaap:RetainedEarningsMember2018-02-030000109198us-gaap:RetainedEarningsMember2018-02-042018-11-030000109198us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-02-042018-11-030000109198us-gaap:AdditionalPaidInCapitalMember2018-02-042018-11-030000109198us-gaap:CommonStockMember2018-02-042018-11-030000109198us-gaap:AccountingStandardsUpdate201602Member2019-02-030000109198srt:MinimumMember2019-02-032019-11-020000109198srt:MaximumMember2019-02-032019-11-0200001091982019-02-030000109198us-gaap:SubsequentEventMembertjx:FamiliaMember2019-11-182019-11-18xbrli:pure0000109198us-gaap:SubsequentEventMembertjx:FamiliaMember2019-11-180000109198us-gaap:AccumulatedTranslationAdjustmentMember2018-02-030000109198us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2018-02-030000109198tjx:AccumulatedRateLockOnDebtMember2018-02-0300001091982018-02-042019-02-020000109198us-gaap:AccumulatedTranslationAdjustmentMember2018-02-042019-02-020000109198us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2018-02-042019-02-020000109198tjx:AccumulatedRateLockOnDebtMember2018-02-042019-02-020000109198us-gaap:AccumulatedTranslationAdjustmentMember2019-02-020000109198us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-02-020000109198tjx:AccumulatedRateLockOnDebtMember2019-02-020000109198us-gaap:AccumulatedTranslationAdjustmentMember2019-02-032019-11-020000109198tjx:AccumulatedRateLockOnDebtMember2019-02-032019-11-020000109198us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-02-032019-11-020000109198us-gaap:AccumulatedTranslationAdjustmentMember2019-11-020000109198us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-11-020000109198tjx:AccumulatedRateLockOnDebtMember2019-11-0200001091982018-11-062018-11-0600001091982018-10-2200001091982018-11-060000109198tjx:TradeDateBasisMember2019-08-042019-11-020000109198tjx:TradeDateBasisMember2019-02-032019-11-020000109198tjx:StockRepurchaseProgramTwentyNineteenMember2019-02-280000109198tjx:StockRepurchaseProgramsTwentyEighteenMember2018-02-280000109198tjx:StockRepurchaseProgramsTwentyEighteenMember2018-02-012019-11-0200001091982018-05-062018-08-040000109198tjx:IntercompanyDividendsMemberus-gaap:CashFlowHedgingMemberus-gaap:SellingGeneralAndAdministrativeExpensesMember2018-05-062018-08-04iso4217:PLN0000109198tjx:PrepaidExpenseMemberus-gaap:FairValueHedgingMemberus-gaap:LongMembertjx:ConversionOfZlotyToPoundMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-11-02iso4217:GBP0000109198tjx:PrepaidExpenseMemberus-gaap:FairValueHedgingMemberus-gaap:ShortMembertjx:ConversionOfZlotyToPoundMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-11-020000109198tjx:PrepaidExpenseMemberus-gaap:FairValueHedgingMembertjx:ConversionOfZlotyToPoundMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-11-02iso4217:EUR0000109198tjx:PrepaidExpenseMembertjx:ConversionOfEuroToPoundMemberus-gaap:FairValueHedgingMemberus-gaap:LongMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-11-020000109198tjx:PrepaidExpenseMembertjx:ConversionOfEuroToPoundMemberus-gaap:FairValueHedgingMemberus-gaap:ShortMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-11-020000109198tjx:PrepaidExpenseMembertjx:ConversionOfEuroToPoundMemberus-gaap:FairValueHedgingMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-11-02iso4217:AUD0000109198tjx:ConversionOfAustralianDollarToUsDollarMembertjx:AccruedExpenseMemberus-gaap:FairValueHedgingMemberus-gaap:LongMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-11-020000109198tjx:ConversionOfAustralianDollarToUsDollarMembertjx:AccruedExpenseMemberus-gaap:FairValueHedgingMemberus-gaap:ShortMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-11-020000109198tjx:ConversionOfAustralianDollarToUsDollarMembertjx:AccruedExpenseMemberus-gaap:FairValueHedgingMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-11-020000109198tjx:AccruedExpenseMemberus-gaap:FairValueHedgingMemberus-gaap:LongMembertjx:ConversionOfUsDollarToPoundMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-11-020000109198tjx:AccruedExpenseMemberus-gaap:FairValueHedgingMemberus-gaap:ShortMembertjx:ConversionOfUsDollarToPoundMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-11-020000109198tjx:AccruedExpenseMemberus-gaap:FairValueHedgingMembertjx:ConversionOfUsDollarToPoundMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-11-02utr:galutr:M0000109198srt:MinimumMembertjx:AccruedExpenseMemberus-gaap:LongMemberus-gaap:CommodityContractMember2019-02-032019-11-020000109198srt:MaximumMembertjx:AccruedExpenseMemberus-gaap:LongMemberus-gaap:CommodityContractMember2019-02-032019-11-020000109198srt:MinimumMembertjx:AccruedExpenseMemberus-gaap:ShortMemberus-gaap:CommodityContractMember2019-02-032019-11-020000109198srt:MaximumMembertjx:AccruedExpenseMemberus-gaap:ShortMemberus-gaap:CommodityContractMember2019-02-032019-11-020000109198tjx:AccruedExpenseMemberus-gaap:CommodityContractMember2019-11-020000109198tjx:PrepaidExpenseMembertjx:ConversionOfEuroToPoundMemberus-gaap:LongMembertjx:IntercompanyBillingsInEuropePrimarilyMerchandiseRelatedMember2019-11-020000109198tjx:PrepaidExpenseMembertjx:ConversionOfEuroToPoundMemberus-gaap:ShortMembertjx:IntercompanyBillingsInEuropePrimarilyMerchandiseRelatedMember2019-11-020000109198tjx:PrepaidExpenseMembertjx:ConversionOfEuroToPoundMembertjx:IntercompanyBillingsInEuropePrimarilyMerchandiseRelatedMember2019-11-02iso4217:CAD0000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfCanadianDollarToUsDollarMemberus-gaap:LongMembertjx:PrepaidExpenseAccruedExpenseMember2019-11-020000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfCanadianDollarToUsDollarMemberus-gaap:ShortMembertjx:PrepaidExpenseAccruedExpenseMember2019-11-020000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfCanadianDollarToUsDollarMembertjx:PrepaidExpenseAccruedExpenseMember2019-11-020000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfCanadianDollarToEuroMemberus-gaap:LongMembertjx:PrepaidExpenseAccruedExpenseMember2019-11-020000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfCanadianDollarToEuroMemberus-gaap:ShortMembertjx:PrepaidExpenseAccruedExpenseMember2019-11-020000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfCanadianDollarToEuroMembertjx:PrepaidExpenseAccruedExpenseMember2019-11-020000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfPoundToUsDollarMemberus-gaap:LongMembertjx:PrepaidExpenseAccruedExpenseMember2019-11-020000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfPoundToUsDollarMemberus-gaap:ShortMembertjx:PrepaidExpenseAccruedExpenseMember2019-11-020000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfPoundToUsDollarMembertjx:PrepaidExpenseAccruedExpenseMember2019-11-020000109198tjx:ConversionOfAustralianDollarToUsDollarMembertjx:MerchandisePurchaseCommitmentsMemberus-gaap:LongMembertjx:PrepaidExpenseAccruedExpenseMember2019-11-020000109198tjx:ConversionOfAustralianDollarToUsDollarMembertjx:MerchandisePurchaseCommitmentsMemberus-gaap:ShortMembertjx:PrepaidExpenseAccruedExpenseMember2019-11-020000109198tjx:ConversionOfAustralianDollarToUsDollarMembertjx:MerchandisePurchaseCommitmentsMembertjx:PrepaidExpenseAccruedExpenseMember2019-11-020000109198tjx:MerchandisePurchaseCommitmentsMemberus-gaap:LongMembertjx:PrepaidExpenseAccruedExpenseMembertjx:ConversionOfZlotyToPoundMember2019-11-020000109198tjx:MerchandisePurchaseCommitmentsMemberus-gaap:ShortMembertjx:PrepaidExpenseAccruedExpenseMembertjx:ConversionOfZlotyToPoundMember2019-11-020000109198tjx:MerchandisePurchaseCommitmentsMembertjx:PrepaidExpenseAccruedExpenseMembertjx:ConversionOfZlotyToPoundMember2019-11-020000109198tjx:PrepaidExpenseMembertjx:MerchandisePurchaseCommitmentsMemberus-gaap:LongMembertjx:ConversionOfUsDollarToPoundMember2019-11-020000109198tjx:PrepaidExpenseMembertjx:MerchandisePurchaseCommitmentsMemberus-gaap:ShortMembertjx:ConversionOfUsDollarToPoundMember2019-11-020000109198tjx:PrepaidExpenseMembertjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfUsDollarToPoundMember2019-11-020000109198tjx:MerchandisePurchaseCommitmentsMemberus-gaap:LongMembertjx:ConversionOfUsDollarToEuroMembertjx:PrepaidExpenseAccruedExpenseMember2019-11-020000109198tjx:MerchandisePurchaseCommitmentsMemberus-gaap:ShortMembertjx:ConversionOfUsDollarToEuroMembertjx:PrepaidExpenseAccruedExpenseMember2019-11-020000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfUsDollarToEuroMembertjx:PrepaidExpenseAccruedExpenseMember2019-11-020000109198tjx:PrepaidExpenseMemberus-gaap:FairValueHedgingMemberus-gaap:LongMembertjx:ConversionOfZlotyToPoundMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-02-020000109198tjx:PrepaidExpenseMemberus-gaap:FairValueHedgingMemberus-gaap:ShortMembertjx:ConversionOfZlotyToPoundMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-02-020000109198tjx:PrepaidExpenseMemberus-gaap:FairValueHedgingMembertjx:ConversionOfZlotyToPoundMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-02-020000109198tjx:ConversionOfEuroToPoundMemberus-gaap:FairValueHedgingMemberus-gaap:LongMembertjx:PrepaidExpenseAccruedExpenseMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-02-020000109198tjx:ConversionOfEuroToPoundMemberus-gaap:FairValueHedgingMemberus-gaap:ShortMembertjx:PrepaidExpenseAccruedExpenseMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-02-020000109198tjx:ConversionOfEuroToPoundMemberus-gaap:FairValueHedgingMembertjx:PrepaidExpenseAccruedExpenseMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-02-020000109198tjx:ConversionOfAustralianDollarToUsDollarMembertjx:AccruedExpenseMemberus-gaap:FairValueHedgingMemberus-gaap:LongMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-02-020000109198tjx:ConversionOfAustralianDollarToUsDollarMembertjx:AccruedExpenseMemberus-gaap:FairValueHedgingMemberus-gaap:ShortMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-02-020000109198tjx:ConversionOfAustralianDollarToUsDollarMembertjx:AccruedExpenseMemberus-gaap:FairValueHedgingMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-02-020000109198tjx:PrepaidExpenseMemberus-gaap:FairValueHedgingMemberus-gaap:LongMembertjx:ConversionOfUsDollarToPoundMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-02-020000109198tjx:PrepaidExpenseMemberus-gaap:FairValueHedgingMemberus-gaap:ShortMembertjx:ConversionOfUsDollarToPoundMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-02-020000109198tjx:PrepaidExpenseMemberus-gaap:FairValueHedgingMembertjx:ConversionOfUsDollarToPoundMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2019-02-020000109198srt:MinimumMembertjx:AccruedExpenseMemberus-gaap:LongMemberus-gaap:CommodityContractMember2018-02-042019-02-020000109198srt:MaximumMembertjx:AccruedExpenseMemberus-gaap:LongMemberus-gaap:CommodityContractMember2018-02-042019-02-020000109198srt:MinimumMembertjx:AccruedExpenseMemberus-gaap:ShortMemberus-gaap:CommodityContractMember2018-02-042019-02-020000109198srt:MaximumMembertjx:AccruedExpenseMemberus-gaap:ShortMemberus-gaap:CommodityContractMember2018-02-042019-02-020000109198tjx:AccruedExpenseMemberus-gaap:CommodityContractMember2019-02-020000109198tjx:PrepaidExpenseMembertjx:ConversionOfEuroToPoundMemberus-gaap:LongMembertjx:IntercompanyBillingsInEuropePrimarilyMerchandiseRelatedMember2019-02-020000109198tjx:PrepaidExpenseMembertjx:ConversionOfEuroToPoundMemberus-gaap:ShortMembertjx:IntercompanyBillingsInEuropePrimarilyMerchandiseRelatedMember2019-02-020000109198tjx:PrepaidExpenseMembertjx:ConversionOfEuroToPoundMembertjx:IntercompanyBillingsInEuropePrimarilyMerchandiseRelatedMember2019-02-020000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfCanadianDollarToUsDollarMemberus-gaap:LongMembertjx:PrepaidExpenseAccruedExpenseMember2019-02-020000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfCanadianDollarToUsDollarMemberus-gaap:ShortMembertjx:PrepaidExpenseAccruedExpenseMember2019-02-020000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfCanadianDollarToUsDollarMembertjx:PrepaidExpenseAccruedExpenseMember2019-02-020000109198tjx:MerchandisePurchaseCommitmentsMembertjx:AccruedExpenseMembertjx:ConversionOfCanadianDollarToEuroMemberus-gaap:LongMember2019-02-020000109198tjx:MerchandisePurchaseCommitmentsMembertjx:AccruedExpenseMembertjx:ConversionOfCanadianDollarToEuroMemberus-gaap:ShortMember2019-02-020000109198tjx:MerchandisePurchaseCommitmentsMembertjx:AccruedExpenseMembertjx:ConversionOfCanadianDollarToEuroMember2019-02-020000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfPoundToUsDollarMemberus-gaap:LongMembertjx:PrepaidExpenseAccruedExpenseMember2019-02-020000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfPoundToUsDollarMemberus-gaap:ShortMembertjx:PrepaidExpenseAccruedExpenseMember2019-02-020000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfPoundToUsDollarMembertjx:PrepaidExpenseAccruedExpenseMember2019-02-020000109198tjx:MerchandisePurchaseCommitmentsMemberus-gaap:LongMembertjx:PrepaidExpenseAccruedExpenseMembertjx:ConversionOfZlotyToPoundMember2019-02-020000109198tjx:MerchandisePurchaseCommitmentsMemberus-gaap:ShortMembertjx:PrepaidExpenseAccruedExpenseMembertjx:ConversionOfZlotyToPoundMember2019-02-020000109198tjx:MerchandisePurchaseCommitmentsMembertjx:PrepaidExpenseAccruedExpenseMembertjx:ConversionOfZlotyToPoundMember2019-02-020000109198tjx:ConversionOfAustralianDollarToUsDollarMembertjx:MerchandisePurchaseCommitmentsMemberus-gaap:LongMembertjx:PrepaidExpenseAccruedExpenseMember2019-02-020000109198tjx:ConversionOfAustralianDollarToUsDollarMembertjx:MerchandisePurchaseCommitmentsMemberus-gaap:ShortMembertjx:PrepaidExpenseAccruedExpenseMember2019-02-020000109198tjx:ConversionOfAustralianDollarToUsDollarMembertjx:MerchandisePurchaseCommitmentsMembertjx:PrepaidExpenseAccruedExpenseMember2019-02-020000109198tjx:MerchandisePurchaseCommitmentsMemberus-gaap:LongMembertjx:ConversionOfUsDollarToEuroMembertjx:PrepaidExpenseAccruedExpenseMember2019-02-020000109198tjx:MerchandisePurchaseCommitmentsMemberus-gaap:ShortMembertjx:ConversionOfUsDollarToEuroMembertjx:PrepaidExpenseAccruedExpenseMember2019-02-020000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfUsDollarToEuroMembertjx:PrepaidExpenseAccruedExpenseMember2019-02-020000109198tjx:PrepaidExpenseMemberus-gaap:FairValueHedgingMemberus-gaap:LongMembertjx:ConversionOfZlotyToPoundMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2018-11-030000109198tjx:PrepaidExpenseMemberus-gaap:FairValueHedgingMemberus-gaap:ShortMembertjx:ConversionOfZlotyToPoundMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2018-11-030000109198tjx:PrepaidExpenseMemberus-gaap:FairValueHedgingMembertjx:ConversionOfZlotyToPoundMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2018-11-030000109198tjx:PrepaidExpenseMembertjx:ConversionOfEuroToPoundMemberus-gaap:FairValueHedgingMemberus-gaap:LongMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2018-11-030000109198tjx:PrepaidExpenseMembertjx:ConversionOfEuroToPoundMemberus-gaap:FairValueHedgingMemberus-gaap:ShortMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2018-11-030000109198tjx:PrepaidExpenseMembertjx:ConversionOfEuroToPoundMemberus-gaap:FairValueHedgingMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2018-11-030000109198tjx:AccruedExpenseMemberus-gaap:FairValueHedgingMemberus-gaap:LongMembertjx:ConversionOfUsDollarToPoundMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2018-11-030000109198tjx:AccruedExpenseMemberus-gaap:FairValueHedgingMemberus-gaap:ShortMembertjx:ConversionOfUsDollarToPoundMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2018-11-030000109198tjx:AccruedExpenseMemberus-gaap:FairValueHedgingMembertjx:ConversionOfUsDollarToPoundMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2018-11-030000109198tjx:AccruedExpenseMemberus-gaap:FairValueHedgingMemberus-gaap:LongMembertjx:ConversionOfAustralianDollarToPoundMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2018-11-030000109198tjx:AccruedExpenseMemberus-gaap:FairValueHedgingMembertjx:ConversionOfAustralianDollarToPoundMemberus-gaap:ShortMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2018-11-030000109198tjx:AccruedExpenseMemberus-gaap:FairValueHedgingMembertjx:ConversionOfAustralianDollarToPoundMembertjx:IntercompanyBalancesPrimarilyShortTermDebtAndRelatedInterestMember2018-11-030000109198tjx:PrepaidExpenseMembersrt:MinimumMemberus-gaap:LongMemberus-gaap:CommodityContractMember2018-02-042018-11-030000109198srt:MaximumMembertjx:PrepaidExpenseMemberus-gaap:LongMemberus-gaap:CommodityContractMember2018-02-042018-11-030000109198tjx:PrepaidExpenseMembersrt:MinimumMemberus-gaap:ShortMemberus-gaap:CommodityContractMember2018-02-042018-11-030000109198srt:MaximumMembertjx:PrepaidExpenseMemberus-gaap:ShortMemberus-gaap:CommodityContractMember2018-02-042018-11-030000109198tjx:PrepaidExpenseMemberus-gaap:CommodityContractMember2018-11-030000109198tjx:ConversionOfEuroToPoundMembertjx:AccruedExpenseMemberus-gaap:LongMembertjx:IntercompanyBillingsInEuropePrimarilyMerchandiseRelatedMember2018-11-030000109198tjx:ConversionOfEuroToPoundMembertjx:AccruedExpenseMemberus-gaap:ShortMembertjx:IntercompanyBillingsInEuropePrimarilyMerchandiseRelatedMember2018-11-030000109198tjx:ConversionOfEuroToPoundMembertjx:AccruedExpenseMembertjx:IntercompanyBillingsInEuropePrimarilyMerchandiseRelatedMember2018-11-030000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfCanadianDollarToUsDollarMemberus-gaap:LongMembertjx:PrepaidExpenseAccruedExpenseMember2018-11-030000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfCanadianDollarToUsDollarMemberus-gaap:ShortMembertjx:PrepaidExpenseAccruedExpenseMember2018-11-030000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfCanadianDollarToUsDollarMembertjx:PrepaidExpenseAccruedExpenseMember2018-11-030000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfCanadianDollarToEuroMemberus-gaap:LongMembertjx:PrepaidExpenseAccruedExpenseMember2018-11-030000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfCanadianDollarToEuroMemberus-gaap:ShortMembertjx:PrepaidExpenseAccruedExpenseMember2018-11-030000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfCanadianDollarToEuroMembertjx:PrepaidExpenseAccruedExpenseMember2018-11-030000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfPoundToUsDollarMemberus-gaap:LongMembertjx:PrepaidExpenseAccruedExpenseMember2018-11-030000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfPoundToUsDollarMemberus-gaap:ShortMembertjx:PrepaidExpenseAccruedExpenseMember2018-11-030000109198tjx:MerchandisePurchaseCommitmentsMembertjx:ConversionOfPoundToUsDollarMembertjx:PrepaidExpenseAccruedExpenseMember2018-11-030000109198tjx:MerchandisePurchaseCommitmentsMemberus-gaap:LongMembertjx:PrepaidExpenseAccruedExpenseMembertjx:ConversionOfUsDollarToPoundMember2018-11-030000109198tjx:MerchandisePurchaseCommitmentsMemberus-gaap:ShortMembertjx:PrepaidExpenseAccruedExpenseMembertjx:ConversionOfUsDollarToPoundMember2018-11-030000109198tjx:MerchandisePurchaseCommitmentsMembertjx:PrepaidExpenseAccruedExpenseMembertjx:ConversionOfUsDollarToPoundMember2018-11-030000109198tjx:ConversionOfAustralianDollarToUsDollarMembertjx:MerchandisePurchaseCommitmentsMemberus-gaap:LongMembertjx:PrepaidExpenseAccruedExpenseMember2018-11-030000109198tjx:ConversionOfAustralianDollarToUsDollarMembertjx:MerchandisePurchaseCommitmentsMemberus-gaap:ShortMembertjx:PrepaidExpenseAccruedExpenseMember2018-11-030000109198tjx:ConversionOfAustralianDollarToUsDollarMembertjx:MerchandisePurchaseCommitmentsMembertjx:PrepaidExpenseAccruedExpenseMember2018-11-030000109198tjx:MerchandisePurchaseCommitmentsMemberus-gaap:LongMembertjx:PrepaidExpenseAccruedExpenseMembertjx:ConversionOfZlotyToPoundMember2018-11-030000109198tjx:MerchandisePurchaseCommitmentsMemberus-gaap:ShortMembertjx:PrepaidExpenseAccruedExpenseMembertjx:ConversionOfZlotyToPoundMember2018-11-030000109198tjx:MerchandisePurchaseCommitmentsMembertjx:PrepaidExpenseAccruedExpenseMembertjx:ConversionOfZlotyToPoundMember2018-11-030000109198tjx:MerchandisePurchaseCommitmentsMembertjx:AccruedExpenseMemberus-gaap:LongMembertjx:ConversionOfUsDollarToEuroMember2018-11-030000109198tjx:MerchandisePurchaseCommitmentsMembertjx:AccruedExpenseMemberus-gaap:ShortMembertjx:ConversionOfUsDollarToEuroMember2018-11-030000109198tjx:MerchandisePurchaseCommitmentsMembertjx:AccruedExpenseMembertjx:ConversionOfUsDollarToEuroMember2018-11-030000109198tjx:IntercompanyBalancesPrimarilyDebtAndRelatedInterestMemberus-gaap:FairValueHedgingMemberus-gaap:SellingGeneralAndAdministrativeExpensesMember2019-08-042019-11-020000109198tjx:IntercompanyBalancesPrimarilyDebtAndRelatedInterestMemberus-gaap:FairValueHedgingMemberus-gaap:SellingGeneralAndAdministrativeExpensesMember2018-08-052018-11-030000109198tjx:IntercompanyBalancesPrimarilyDebtAndRelatedInterestMemberus-gaap:FairValueHedgingMemberus-gaap:SellingGeneralAndAdministrativeExpensesMember2019-02-032019-11-020000109198tjx:IntercompanyBalancesPrimarilyDebtAndRelatedInterestMemberus-gaap:FairValueHedgingMemberus-gaap:SellingGeneralAndAdministrativeExpensesMember2018-02-042018-11-030000109198tjx:IntercompanyDividendsMemberus-gaap:NondesignatedMemberus-gaap:SellingGeneralAndAdministrativeExpensesMember2019-08-042019-11-020000109198tjx:IntercompanyDividendsMemberus-gaap:NondesignatedMemberus-gaap:SellingGeneralAndAdministrativeExpensesMember2018-08-052018-11-030000109198tjx:IntercompanyDividendsMemberus-gaap:NondesignatedMemberus-gaap:SellingGeneralAndAdministrativeExpensesMember2019-02-032019-11-020000109198tjx:IntercompanyDividendsMemberus-gaap:NondesignatedMemberus-gaap:SellingGeneralAndAdministrativeExpensesMember2018-02-042018-11-030000109198us-gaap:NondesignatedMemberus-gaap:CostOfSalesMemberus-gaap:CommodityContractMember2019-08-042019-11-020000109198us-gaap:NondesignatedMemberus-gaap:CostOfSalesMemberus-gaap:CommodityContractMember2018-08-052018-11-030000109198us-gaap:NondesignatedMemberus-gaap:CostOfSalesMemberus-gaap:CommodityContractMember2019-02-032019-11-020000109198us-gaap:NondesignatedMemberus-gaap:CostOfSalesMemberus-gaap:CommodityContractMember2018-02-042018-11-030000109198us-gaap:NondesignatedMemberus-gaap:CostOfSalesMembertjx:IntercompanyBillingsInEuropePrimarilyMerchandiseRelatedMember2019-08-042019-11-020000109198us-gaap:NondesignatedMemberus-gaap:CostOfSalesMembertjx:IntercompanyBillingsInEuropePrimarilyMerchandiseRelatedMember2018-08-052018-11-030000109198us-gaap:NondesignatedMemberus-gaap:CostOfSalesMembertjx:IntercompanyBillingsInEuropePrimarilyMerchandiseRelatedMember2019-02-032019-11-020000109198us-gaap:NondesignatedMemberus-gaap:CostOfSalesMembertjx:IntercompanyBillingsInEuropePrimarilyMerchandiseRelatedMember2018-02-042018-11-030000109198tjx:InternationalLeaseLiabilityMemberus-gaap:NondesignatedMemberus-gaap:CostOfSalesMember2019-08-042019-11-020000109198tjx:InternationalLeaseLiabilityMemberus-gaap:NondesignatedMemberus-gaap:CostOfSalesMember2018-08-052018-11-030000109198tjx:InternationalLeaseLiabilityMemberus-gaap:NondesignatedMemberus-gaap:CostOfSalesMember2019-02-032019-11-020000109198tjx:InternationalLeaseLiabilityMemberus-gaap:NondesignatedMemberus-gaap:CostOfSalesMember2018-02-042018-11-030000109198tjx:MerchandisePurchaseCommitmentsMemberus-gaap:NondesignatedMemberus-gaap:CostOfSalesMember2019-08-042019-11-020000109198tjx:MerchandisePurchaseCommitmentsMemberus-gaap:NondesignatedMemberus-gaap:CostOfSalesMember2018-08-052018-11-030000109198tjx:MerchandisePurchaseCommitmentsMemberus-gaap:NondesignatedMemberus-gaap:CostOfSalesMember2019-02-032019-11-020000109198tjx:MerchandisePurchaseCommitmentsMemberus-gaap:NondesignatedMemberus-gaap:CostOfSalesMember2018-02-042018-11-030000109198tjx:ExecutiveSavingsPlanMemberus-gaap:FairValueInputsLevel1Member2019-11-020000109198tjx:ExecutiveSavingsPlanMemberus-gaap:FairValueInputsLevel1Member2019-02-020000109198tjx:ExecutiveSavingsPlanMemberus-gaap:FairValueInputsLevel1Member2018-11-030000109198us-gaap:ForeignExchangeContractMemberus-gaap:FairValueInputsLevel2Member2019-11-020000109198us-gaap:ForeignExchangeContractMemberus-gaap:FairValueInputsLevel2Member2019-02-020000109198us-gaap:ForeignExchangeContractMemberus-gaap:FairValueInputsLevel2Member2018-11-030000109198us-gaap:CommodityContractMemberus-gaap:FairValueInputsLevel2Member2019-11-020000109198us-gaap:CommodityContractMemberus-gaap:FairValueInputsLevel2Member2019-02-020000109198us-gaap:CommodityContractMemberus-gaap:FairValueInputsLevel2Member2018-11-03tjx:Segment0000109198tjx:MarmaxxMember2019-08-042019-11-020000109198tjx:MarmaxxMember2018-08-052018-11-030000109198tjx:MarmaxxMember2019-02-032019-11-020000109198tjx:MarmaxxMember2018-02-042018-11-030000109198tjx:HomeGoodsMember2019-08-042019-11-020000109198tjx:HomeGoodsMember2018-08-052018-11-030000109198tjx:HomeGoodsMember2019-02-032019-11-020000109198tjx:HomeGoodsMember2018-02-042018-11-030000109198tjx:TjxCanadaMember2019-08-042019-11-020000109198tjx:TjxCanadaMember2018-08-052018-11-030000109198tjx:TjxCanadaMember2019-02-032019-11-020000109198tjx:TjxCanadaMember2018-02-042018-11-030000109198tjx:TJXInternationalMember2019-08-042019-11-020000109198tjx:TJXInternationalMember2018-08-052018-11-030000109198tjx:TJXInternationalMember2019-02-032019-11-020000109198tjx:TJXInternationalMember2018-02-042018-11-030000109198us-gaap:OperatingSegmentsMembertjx:MarmaxxMember2019-08-042019-11-020000109198us-gaap:OperatingSegmentsMembertjx:MarmaxxMember2018-08-052018-11-030000109198us-gaap:OperatingSegmentsMembertjx:MarmaxxMember2019-02-032019-11-020000109198us-gaap:OperatingSegmentsMembertjx:MarmaxxMember2018-02-042018-11-030000109198us-gaap:OperatingSegmentsMembertjx:HomeGoodsMember2019-08-042019-11-020000109198us-gaap:OperatingSegmentsMembertjx:HomeGoodsMember2018-08-052018-11-030000109198us-gaap:OperatingSegmentsMembertjx:HomeGoodsMember2019-02-032019-11-020000109198us-gaap:OperatingSegmentsMembertjx:HomeGoodsMember2018-02-042018-11-030000109198tjx:TjxCanadaMemberus-gaap:OperatingSegmentsMember2019-08-042019-11-020000109198tjx:TjxCanadaMemberus-gaap:OperatingSegmentsMember2018-08-052018-11-030000109198tjx:TjxCanadaMemberus-gaap:OperatingSegmentsMember2019-02-032019-11-020000109198tjx:TjxCanadaMemberus-gaap:OperatingSegmentsMember2018-02-042018-11-030000109198tjx:TJXInternationalMemberus-gaap:OperatingSegmentsMember2019-08-042019-11-020000109198tjx:TJXInternationalMemberus-gaap:OperatingSegmentsMember2018-08-052018-11-030000109198tjx:TJXInternationalMemberus-gaap:OperatingSegmentsMember2019-02-032019-11-020000109198tjx:TJXInternationalMemberus-gaap:OperatingSegmentsMember2018-02-042018-11-030000109198us-gaap:OperatingSegmentsMember2019-08-042019-11-020000109198us-gaap:OperatingSegmentsMember2018-08-052018-11-030000109198us-gaap:OperatingSegmentsMember2019-02-032019-11-020000109198us-gaap:OperatingSegmentsMember2018-02-042018-11-030000109198us-gaap:CorporateNonSegmentMember2019-08-042019-11-020000109198us-gaap:CorporateNonSegmentMember2018-08-052018-11-030000109198us-gaap:CorporateNonSegmentMember2019-02-032019-11-020000109198us-gaap:CorporateNonSegmentMember2018-02-042018-11-030000109198tjx:MarmaxxMember2019-11-020000109198tjx:HomeGoodsMember2019-11-020000109198tjx:TjxCanadaMember2019-11-020000109198tjx:TJXInternationalMember2019-11-020000109198us-gaap:FundedPlanMember2019-08-042019-11-020000109198us-gaap:FundedPlanMember2018-08-052018-11-030000109198us-gaap:UnfundedPlanMember2019-08-042019-11-020000109198us-gaap:UnfundedPlanMember2018-08-052018-11-030000109198us-gaap:FundedPlanMember2019-02-032019-11-020000109198us-gaap:FundedPlanMember2018-02-042018-11-030000109198us-gaap:UnfundedPlanMember2019-02-032019-11-020000109198us-gaap:UnfundedPlanMember2018-02-042018-11-030000109198us-gaap:UnfundedPlanMember2019-11-020000109198us-gaap:FundedPlanMember2018-02-042018-09-300000109198us-gaap:FundedPlanMember2018-10-012018-11-030000109198us-gaap:FundedPlanMember2018-09-300000109198tjx:TwoPointFiveZeroPercentageTenYearNotesMember2019-11-020000109198tjx:TwoPointFiveZeroPercentageTenYearNotesMember2019-02-032019-11-020000109198tjx:TwoPointFiveZeroPercentageTenYearNotesMember2019-02-020000109198tjx:TwoPointFiveZeroPercentageTenYearNotesMember2018-11-030000109198tjx:TwoPointSevenFivePercentageSevenYearNotesMember2019-11-020000109198tjx:TwoPointSevenFivePercentageSevenYearNotesMember2019-02-032019-11-020000109198tjx:TwoPointSevenFivePercentageSevenYearNotesMember2019-02-020000109198tjx:TwoPointSevenFivePercentageSevenYearNotesMember2018-11-030000109198tjx:TwoPointTwoFivePercentageTenYearNotesMember2019-11-020000109198tjx:TwoPointTwoFivePercentageTenYearNotesMember2019-02-032019-11-020000109198tjx:TwoPointTwoFivePercentageTenYearNotesMember2019-02-020000109198tjx:TwoPointTwoFivePercentageTenYearNotesMember2018-11-03tjx:CreditFacility0000109198tjx:RevolvingCreditFacilityMayTwentyTwentyFourMember2019-11-020000109198tjx:RevolvingCreditFacilityMarchTwentyTwentyTwoMember2019-11-020000109198tjx:RevolvingCreditFacilityMarchTwentyTwentyTwoMember2019-02-020000109198tjx:RevolvingCreditFacilityMayTwentyTwentyFourMember2019-02-020000109198tjx:RevolvingCreditFacilityMayTwentyTwentyFourMember2018-11-030000109198tjx:RevolvingCreditFacilityMarchTwentyTwentyTwoMember2018-11-030000109198tjx:RevolvingCreditFacilityMarchTwentyTwentyTwoMember2019-02-032019-11-020000109198tjx:RevolvingCreditFacilityMarchTwentyTwentyTwoMember2018-02-042019-02-020000109198tjx:RevolvingCreditFacilityMarchTwentyTwentyTwoMember2018-02-042018-11-030000109198tjx:RevolvingCreditFacilityMayTwentyTwentyFourMember2018-02-042019-02-020000109198tjx:RevolvingCreditFacilityMayTwentyTwentyFourMember2019-02-032019-11-020000109198tjx:RevolvingCreditFacilityMayTwentyTwentyFourMember2018-02-042018-11-030000109198tjx:TjxCanadaMember2019-02-020000109198tjx:TjxCanadaMember2018-11-030000109198tjx:TjxCanadaMemberus-gaap:LetterOfCreditMember2019-02-020000109198tjx:TjxCanadaMemberus-gaap:LetterOfCreditMember2018-11-030000109198tjx:TjxCanadaMemberus-gaap:LetterOfCreditMember2019-11-020000109198tjx:TJXEuropeCreditLineMembertjx:TJXInternationalMember2019-11-020000109198tjx:TJXEuropeCreditLineMembertjx:TJXInternationalMember2019-02-020000109198tjx:TJXEuropeCreditLineMembertjx:TJXInternationalMember2018-11-030000109198srt:MinimumMember2019-11-020000109198srt:MaximumMember2019-11-02tjx:Lease0000109198tjx:TjxUsAndCanadaMember2019-11-02tjx:extension_period0000109198srt:MaximumMembertjx:TjxUsAndCanadaMember2019-11-020000109198srt:MinimumMembertjx:TJXEuropeMember2019-11-020000109198srt:MaximumMembertjx:TJXEuropeMember2019-11-020000109198srt:MinimumMembertjx:TJXAustraliaMember2019-11-020000109198srt:MaximumMembertjx:TJXAustraliaMember2019-11-02

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-Q
(mark one)
Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the quarterly period ended November 2, 2019
OR
Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the transition period from                      to                     
Commission file number 1-4908 
The TJX Companies, Inc.
(Exact name of registrant as specified in its charter)
Delaware 04-2207613
(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)
770 Cochituate Road Framingham, Massachusetts
 01701
(Address of principal executive offices) (Zip Code)
(508) 390-1000
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $1.00 per shareTJXNew York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes    No  
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes      No  
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer   Accelerated filer 
Non-accelerated filer   Smaller reporting company 
Emerging growth company    
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    YES      NO  
The number of shares of registrant’s common stock outstanding as of November 2, 2019: 1,203,183,703



PART I - FINANCIAL INFORMATION
Item 1. Financial Statements
THE TJX COMPANIES, INC.
CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED)
IN THOUSANDS EXCEPT PER SHARE AMOUNTS
 
 Thirteen Weeks EndedThirty-Nine Weeks Ended
 November 2, 2019November 3, 2018November 2, 2019November 3, 2018
Net sales$10,451,334  $9,825,759  $29,510,515  $27,845,594  
Cost of sales, including buying and occupancy costs7,440,033  6,983,483  21,103,975  19,797,537  
Selling, general and administrative expenses1,885,923  1,756,448  5,319,659  5,006,937  
Pension settlement charge  36,122    36,122  
Interest expense, net3,259  3,188  6,973  10,365  
Income before provision for income taxes1,122,119  1,046,518  3,079,908  2,994,633  
Provision for income taxes293,856  284,265  792,505  776,373  
Net income$828,263  $762,253  $2,287,403  $2,218,260  
Basic earnings per share:
Net income$0.69  $0.62  $1.89  $1.78  
Weighted average common shares – basic1,206,369  1,236,842  1,210,475  1,245,639  
Diluted earnings per share:
Net income$0.68  $0.61  $1.86  $1.75  
Weighted average common shares – diluted1,224,288  1,257,562  1,228,903  1,264,100  
The accompanying notes are an integral part of the unaudited consolidated financial statements.
2


THE TJX COMPANIES, INC.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(UNAUDITED)
IN THOUSANDS
 
 Thirteen Weeks Ended
 November 2, 2019November 3, 2018
Net income$828,263  $762,253  
Additions to other comprehensive loss:
Foreign currency translation adjustments, net of related tax provisions of $241 in fiscal 2020 and $143 in fiscal 2019
70,785  (18,055) 
Recognition of net gains/losses on benefit obligations, net of related tax benefit of $1,867 in fiscal year 2019 (See Note H)
  (5,128) 
Reclassifications from other comprehensive loss to net income:
Pension settlement charge, net of related tax provision of $9,641 in fiscal 2019
  26,481  
Amortization of prior service cost and deferred gains/losses, net of related tax provisions of $1,609 in fiscal 2020 and $1,109 in fiscal 2019
4,418  3,047  
Amortization of loss on cash flow hedge, net of related tax provisions of $75 in fiscal 2020 and $75 in fiscal 2019
208  206  
Other comprehensive income, net of tax75,411  6,551  
Total comprehensive income$903,674  $768,804  

 Thirty-Nine Weeks Ended
 November 2, 2019November 3, 2018
Net income$2,287,403  $2,218,260  
Additions to other comprehensive loss:
Foreign currency translation adjustments, net of related tax benefit of $711 in fiscal 2020 and $13,582 in fiscal 2019
(20,119) (200,318) 
Gain on net investment hedges, net of related tax provision of $7,113 in fiscal 2019
  19,538  
Recognition of net gains/losses on benefit obligations, net of related tax benefit of $1,867 in fiscal year 2019 (See Note H)
  (5,128) 
Reclassifications from other comprehensive loss to net income:
Pension settlement charge, net of related tax provision of $9,641 in fiscal 2019
  26,481  
Amortization of prior service cost and deferred gains, net of related tax provisions of $4,515 in fiscal 2020 and $3,210 in fiscal 2019
12,402  8,817  
Amortization of loss on cash flow hedge, net of related tax provisions of $227 in fiscal 2020 and $228 in fiscal 2019
624  622  
Other comprehensive (loss), net of tax(7,093) (149,988) 
Total comprehensive income$2,280,310  $2,068,272  
The accompanying notes are an integral part of the unaudited consolidated financial statements.
3


THE TJX COMPANIES, INC.
CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
IN THOUSANDS, EXCEPT SHARE DATA
 
November 2, 2019February 2, 2019November 3, 2018
ASSETS
Current assets:
Cash and cash equivalents$2,060,176  $3,030,229  $2,711,767  
Accounts receivable, net442,883  346,298  419,790  
Merchandise inventories6,274,778  4,579,033  5,543,413  
Prepaid expenses and other current assets596,778  513,662  642,043  
Total current assets9,374,615  8,469,222  9,317,013  
Net property at cost5,250,971  5,255,208  5,165,875  
Non-current deferred income taxes, net5,484  6,467    
Operating lease right of use assets9,069,146  —  —  
Goodwill96,313  97,552  97,348  
Other assets492,175  497,580  445,006  
TOTAL ASSETS$24,288,704  $14,326,029  $15,025,242  
LIABILITIES
Current liabilities:
Accounts payable$3,447,443  $2,644,143  $3,340,596  
Accrued expenses and other current liabilities2,806,225  2,733,076  2,594,561  
Current portion of operating lease liabilities1,412,262  —  —  
Federal, state and foreign income taxes payable21,214  154,155  78,668  
Total current liabilities7,687,144  5,531,374  6,013,825  
Other long-term liabilities797,573  1,354,242  1,284,911  
Non-current deferred income taxes, net203,515  158,191  236,769  
Long-term operating lease liabilities7,822,067  —  —  
Long-term debt2,235,873  2,233,616  2,232,864  
Commitments and contingencies (See Note K)
SHAREHOLDERS’ EQUITY
Preferred stock, authorized 5,000,000 shares, par value $1, no shares issued
      
Common stock, authorized 1,800,000,000 shares, par value $1, issued and outstanding 1,203,183,703; 1,217,182,508 and 1,233,145,248 respectively
1,203,184  1,217,183  1,233,145  
Additional paid-in capital      
Accumulated other comprehensive loss(637,414) (630,321) (591,847) 
Retained earnings4,976,762  4,461,744  4,615,575  
Total shareholders’ equity5,542,532  5,048,606  5,256,873  
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY$24,288,704  $14,326,029  $15,025,242  
The accompanying notes are an integral part of the unaudited consolidated financial statements.
4


THE TJX COMPANIES, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
IN THOUSANDS
 
 Thirty-Nine Weeks Ended
 November 2, 2019November 3, 2018
Cash flows from operating activities:
Net income$2,287,403  $2,218,260  
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization647,389  601,227  
Loss on property disposals and impairment charges6,253  14,574  
Pension settlement charge  36,122  
Deferred income tax provision (benefit)42,120  (15,630) 
Share-based compensation86,590  77,353  
Changes in assets and liabilities:
(Increase) in accounts receivable(99,476) (97,891) 
(Increase) in merchandise inventories(1,701,704) (1,442,577) 
(Increase) decrease in prepaid expenses and other current assets(231,968) 124,788  
Increase in accounts payable805,766  902,502  
Increase in accrued expenses and other liabilities133,651  97,696  
(Decrease) in income taxes payable(131,499) (33,292) 
Other29,003  (5,375) 
Net cash provided by operating activities1,873,528  2,477,757  
Cash flows from investing activities:
Property additions(992,712) (872,963) 
Purchase of investments(24,052) (157,198) 
Sales and maturities of investments11,590  634,288  
       Other7,419  26,653  
Net cash (used in) investing activities(997,755) (369,220) 
Cash flows from financing activities:
Cash payments for repurchase of common stock(1,190,390) (1,591,392) 
Cash dividends paid(795,092) (682,322) 
Proceeds from issuance of common stock175,285  239,608  
Cash payments of employee tax withholdings for performance based stock awards(23,297) (16,014) 
Other  (5,409) 
Net cash (used in) financing activities(1,833,494) (2,055,529) 
Effect of exchange rate changes on cash(12,332) (99,718) 
Net (decrease) in cash and cash equivalents(970,053) (46,710) 
Cash and cash equivalents at beginning of year3,030,229  2,758,477  
Cash and cash equivalents at end of period$2,060,176  $2,711,767  
The accompanying notes are an integral part of the unaudited consolidated financial statements.
5


THE TJX COMPANIES, INC.
CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY
(UNAUDITED)
IN THOUSANDS
Thirteen Weeks Ended
 Common Stock  
  Shares
Par Value
$1
Additional Paid-In
Capital
Accumulated Other Comprehensive
Loss
Retained
Earnings
Total
Balance, August 3, 20191,208,933  $1,208,933  $  $(712,825) $4,806,504  $5,302,612  
Net income—  —  —  —  828,263  828,263  
Other comprehensive income, net of tax—  —  —  75,411  —  75,411  
Cash dividends declared on common stock—  —  —  —  (277,115) (277,115) 
Recognition of share-based compensation—  —  31,190  —  —  31,190  
Issuance of common stock under Stock Incentive Plan, net of shares used to pay tax withholdings3,075  3,075  69,735  —  —  72,810  
Common stock repurchased and retired(8,824) (8,824) (100,925) —  (380,890) (490,639) 
Balance, November 2, 20191,203,184  $1,203,184  $  $(637,414) $4,976,762  $5,542,532  

Thirteen Weeks Ended
Common Stock  
Shares
Par Value
$1
Additional Paid-In
Capital
Accumulated Other Comprehensive
Loss
Retained
Earnings
Total
Balance, August 4, 20181,241,533  $1,241,533  $  $(598,398) $4,583,938  $5,227,073  
Net income—  —  —  —  762,253  762,253  
Other comprehensive income, net of tax—  —  —  6,551  —  6,551  
Cash dividends declared on common stock—  —  —  —  (241,147) (241,147) 
Recognition of share-based compensation—  —  27,412  —  —  27,412  
Issuance of common stock under Stock Incentive Plan, net of shares used to pay tax withholdings3,063  3,063  74,593  —  (1,532) 76,124  
Common stock repurchased and retired(11,451) (11,451) (102,005) —  (487,937) (601,393) 
Balance, November 3, 20181,233,145  $1,233,145  $  $(591,847) $4,615,575  $5,256,873  
The accompanying notes are an integral part of the unaudited consolidated financial statements.




6


 THE TJX COMPANIES, INC.
CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY
(UNAUDITED)
IN THOUSANDS
Thirty-Nine Weeks Ended
 Common Stock  
  Shares
Par Value
$1
Additional Paid-In
Capital
Accumulated Other Comprehensive
Loss
Retained
Earnings
Total
Balance, February 2, 20191,217,183  $1,217,183  $  $(630,321) $4,461,744  $5,048,606  
Net income—  —  —  —  2,287,403  2,287,403  
Cumulative effect of accounting change (See Note A)—  —  —  —  403  403  
Other comprehensive loss, net of tax—  —  —  (7,093) —  (7,093) 
Cash dividends declared on common stock—  —  —  —  (834,975) (834,975) 
Recognition of share-based compensation—  —  86,590  —  —  86,590  
Issuance of common stock under Stock Incentive Plan, net of shares used to pay tax withholdings8,169  8,169  143,819  —  —  151,988  
Common stock repurchased and retired(22,168) (22,168) (230,409) —  (937,813) (1,190,390) 
Balance, November 2, 20191,203,184  $1,203,184  $  $(637,414) $4,976,762  $5,542,532  

Thirty-Nine Weeks Ended
Common Stock  
Shares
Par Value
$1
Additional Paid-In
Capital
Accumulated Other Comprehensive
Loss
Retained
Earnings
Total
Balance, February 3, 20181,256,018  $1,256,018  $  $(441,859) $4,334,150  $5,148,309  
Net income—  —  —  —  2,218,260  2,218,260  
Cumulative effect of accounting change—  —  —  —  58,712  58,712  
Other comprehensive loss, net of tax—  —  —  (149,988) —  (149,988) 
Cash dividends declared on common stock—  —  —  —  (727,975) (727,975) 
Recognition of share-based compensation—  —  77,353  —  —  77,353  
Issuance of common stock under Stock Incentive Plan, net of shares used to pay tax withholdings11,030  11,030  218,079  —  (5,515) 223,594  
Common stock repurchased and retired(33,903) (33,903) (295,432) —  (1,262,057) (1,591,392) 
Balance, November 3, 20181,233,145  $1,233,145  $  $(591,847) $4,615,575  $5,256,873  
The accompanying notes are an integral part of the unaudited consolidated financial statements.

7


THE TJX COMPANIES, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Note A. Basis of Presentation and Summary of Significant Accounting Policies
Basis of Presentation
The Consolidated Financial Statements and Notes thereto have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. These Consolidated Financial Statements and Notes thereto are unaudited and, in the opinion of management, reflect all normal recurring adjustments, accruals and deferrals among periods required to match costs properly with the related revenue or activity, considered necessary by The TJX Companies, Inc. (together with its subsidiaries, “TJX”) for a fair statement of its Consolidated Financial Statements for the periods reported, all in conformity with GAAP consistently applied. The Consolidated Financial Statements and Notes thereto should be read in conjunction with the audited Consolidated Financial Statements, including the related notes, contained in TJX’s Annual Report on Form 10-K for the fiscal year ended February 2, 2019 (“fiscal 2019”).
These interim results are not necessarily indicative of results for the full fiscal year. TJX’s business, in common with the businesses of retailers generally, is subject to seasonal influences, with higher levels of sales and income generally realized in the second half of the year.
The February 2, 2019 balance sheet data was derived from audited Consolidated Financial Statements and does not include all disclosures required by GAAP.
Fiscal Year
TJX’s fiscal year ends on the Saturday nearest to the last day of January of each year. The current fiscal year ends February 1, 2020 (“fiscal 2020”) and is a 52-week fiscal year. Fiscal 2019 was also a 52-week fiscal year.
Use of Estimates
The preparation of financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. TJX considers its accounting policies relating to inventory valuation, impairment of long-lived assets, goodwill and tradenames, reserves for uncertain tax positions, leases and loss contingencies to be the most significant accounting policies that involve management estimates and judgments. Actual amounts could differ from those estimates, and such differences could be material.
Deferred Gift Card Revenue
The following table presents deferred gift card revenue activity:
In thousandsNovember 2, 2019November 3, 2018
Balance, beginning of year$450,302  $406,506  
Deferred revenue1,104,694  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  
TJX recognized $358.3 million in gift card revenue for the three months ended November 2, 2019 and $363.6 million for the three months ended November 3, 2018. Gift cards are combined in one homogeneous pool and are not separately identifiable. As such, the revenue recognized consists of gift cards that were part of the deferred revenue balance at the beginning of the period as well as gift cards that were issued during the period.

8


Summary of Accounting Policies
Leases
We adopted ASU No. 2016-02, Leases (Topic 842), as of February 3, 2019, using the modified retrospective method under ASU 2018-11. The transition method allows entities to apply the transition requirements at the effective date rather than at the beginning of the earliest comparative period presented. Our reporting for comparative periods is presented in accordance with ASC 840, Leases. Adoption of the new standard resulted in the recording of right of use (“ROU”) assets and lease liabilities of approximately $9 billion, as of February 3, 2019. The Company elected the transition package of three practical expedients, which among other things, allowed us to carry forward the historical lease classification. We have elected, under Topic 842, the practical expedient to not separate non-lease components from the lease components to which they relate and instead to combine them and account for them as a single lease component. The Company also elected the accounting policy election to keep leases with a term of twelve months or less off the Consolidated Balance Sheets and recognizes these lease payments on a straight-line basis over the lease term.
Operating leases are included in "Operating lease right of use assets", "Current portion of operating lease liabilities", and "Long-term operating lease liabilities" on our Consolidated Balance Sheets. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. At the inception of the arrangement, the Company determines if an arrangement is a lease based on assessment of the terms and conditions of the contract. Operating lease ROU assets and lease liabilities are recognized at possession date based on the present value of lease payments over the lease term. The majority of our leases are retail store locations and the possession date is typically 30 to 60 days prior to the opening of the store and generally occurs before the commencement of the lease term, as specified in the lease. Our lessors do not provide an implicit rate, nor is one readily available, therefore we use our incremental borrowing rate based on the information available at possession date in determining the present value of future lease payments. The incremental borrowing rate is calculated based on the US Consumer Discretionary yield curve and adjusted for collateralization and foreign currency impact for TJX International and Canada leases. The operating lease ROU asset also includes any acquisition costs offset by lease incentives. Our lease terms include options to extend the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term within "Cost of sales, including buying and occupancy costs".
9


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
AdjustmentsAdjusted February 3, 2019
CONDENSED CONSOLIDATED BALANCE SHEETS:
Prepaid expenses and other current assets$513,662  $(149,029) 
(a)
$364,633  
Net property at cost5,255,208  (281,361) 
(b),(f)
4,973,847  
Operating lease right of use asset—  8,704,584  
(c)
8,704,584  
Other assets497,580  (30,086) 
(b)
467,494  
Total Assets$14,326,029  $8,244,108  $22,570,137  
Accrued expenses and other current liabilities2,733,076  (3,819) 2,729,257  
Current portion of operating lease liabilities—  1,481,555  
(d)
1,481,555  
Other long-term liabilities1,354,242  (593,137) 
(e),(f)
761,105  
Long-term operating lease liabilities—  7,359,106  
(d)
7,359,106  
Retained earnings4,461,744  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.
See Note L—Leases of Notes to Consolidated Financial Statements for additional information.
Recently Adopted Accounting Standards
Leases
See Leases in this Note A for the impact upon adoption.
Intangibles-Goodwill and Other-Internal-Use Software
In August 2018, the Financial Accounting Standards Board issued guidance related to accounting for implementation costs incurred in a cloud computing arrangement that is a service contract. The standard allows entities who are customers in hosting arrangements that are service contracts to apply the existing internal-use software guidance to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. The guidance specifies classification for capitalizing implementation costs and related amortization expense within the Consolidated Financial Statements and requires additional disclosures. The Company early adopted the standard prospectively in the third quarter of fiscal 2020. The standard did not have a material impact on our Consolidated Financial Statements.
Subsequent Events
Investment in Familia
On November 18, 2019, the Company, through a wholly owned subsidiary, completed an investment of $225 million for a 25% ownership stake in privately held Familia, an established, off-price apparel and home fashions retailer with more than 275 stores throughout Russia. The Company's investment represents a non-controlling, minority position. As part of this investment, TJX has the right to appoint one member to the Board of Directors of Familia.
The investment will be accounted for under the equity method of accounting from the date of investment forward. TJX will report its share of Familia’s results on a one-quarter lag as their results are not expected to be available in time to be recorded in the concurrent period.
10


Note B. Property at Cost
The following table presents the components of property at cost:
In thousandsNovember 2, 2019February 2, 2019November 3, 2018
Land and buildings(a)
$1,384,809  $1,457,835  $1,423,528  
Leasehold costs and improvements(a)
3,506,784  3,377,045  3,318,857  
Furniture, fixtures and equipment6,236,535  5,894,239  5,728,827  
Total property at cost$11,128,128  $10,729,119  $10,471,212  
Less accumulated depreciation and amortization(a)
5,877,157  5,473,911  5,305,337  
Net property at cost$5,250,971  $5,255,208  $5,165,875  
(a)See Leases in Note A—Basis of Presentation and Summary of Significant Accounting Policies of Notes to Consolidated Financial Statements for impact of lease accounting changes.        
Depreciation expense was $216.3 million for the three months ended November 2, 2019 and $203.6 million for the three months ended November 3, 2018. Depreciation expense was $640.5 million for the nine months ended November 2, 2019 and $601.5 million for the nine months ended November 3, 2018.
Note C. Accumulated Other Comprehensive Income (Loss)
Amounts included in accumulated other comprehensive loss are recorded net of taxes. The following table details the changes in accumulated other comprehensive loss for the twelve months ended February 2, 2019 and the nine months ended November 2, 2019:
In thousandsForeign
Currency
Translation
Deferred
Benefit
Costs
Cash
Flow
Hedge
on Debt
Accumulated
Other
Comprehensive
Income (Loss)
Balance, February 3, 2018
$(280,051) $(159,562) $(2,246) $(441,859) 
Additions to other comprehensive loss:
Foreign currency translation adjustments (net of taxes of $8,233)
(192,664) —  —  (192,664) 
Recognition of net gains/losses on net investment hedges (net of taxes $7,113)
19,538  —  —  19,538  
Recognition of net gains/losses on benefit obligations (net of taxes of $19,813)
—  (54,420) —  (54,420) 
Pension settlement charge (net of taxes of $9,641)
—  26,481  —  26,481  
Reclassifications from other comprehensive loss to net income:
Amortization of loss on cash flow hedge (net of taxes of $304)
—  —  847  847  
Amortization of prior service cost and deferred gains/losses (net of taxes of $4,280)
—  11,756  —  11,756  
Balance, February 2, 2019
$(453,177) $(175,745) $(1,399) $(630,321) 
Additions to other comprehensive loss:
Foreign currency translation adjustments (net of taxes of $711)
(20,119) —  —  (20,119) 
Reclassifications from other comprehensive loss to net income:
Amortization of loss on cash flow hedge (net of taxes of $227)
—  —  624  624  
Amortization of prior service cost and deferred gains/losses (net of taxes of $4,515)
—  12,402  —  12,402  
Balance, November 2, 2019
$(473,296) $(163,343) $(775) $(637,414) 

11


Note D. Capital Stock and Earnings Per Share
Capital Stock
In fiscal 2019, we completed a two-for-one stock split of the Company’s common stock in the form of a stock dividend. One additional share was paid for each share held by holders of record as of the close of business on October 30, 2018. The shares were distributed on November 6, 2018 and resulted in the issuance of 617 million shares of common stock. In connection with our stock split, the shareholders approved an increase in the number of authorized shares of common stock o