0000109198-22-000008 | 10-K | XBRL Viewer

Accumulated Other Comprehensive (Loss) Income

Accumulated Other Comprehensive (Loss) IncomeAmounts included in Accumulated other comprehensive (loss) income relate to the Company’s foreign currency translation adjustments, deferred gains/losses on pension and other post-retirement obligations and a cash flow hedge on issued debt, all of which are recorded net of the related income tax effects. The following table details the changes in Accumulated other comprehensive (loss) income for fiscal 2022, fiscal 2021 and fiscal 2020:


In thousands	Foreign Currency Translation		Deferred Benefit Costs		Cash Flow Hedge on Debt		Accumulated Other Comprehensive (Loss) Income
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 $1,189)	(3,943)		—		—		(3,943)

Recognition of net gains/losses on benefit obligations (net of taxes of $20,489)	—		(56,275)		—		(56,275)
Reclassifications from other comprehensive loss to net income:

Amortization of loss on cash flow hedge (net of taxes of $303)	—		—		831		831
Amortization of prior service cost and deferred gains/losses (net of taxes of $6,019)	—		16,537		—		16,537
Balance, February 1, 2020	$	(457,120)	$	(215,483)	$	(568)	$	(673,171)
Additions to other comprehensive loss:
Foreign currency translation adjustments (net of taxes of $2,442)	15,588		—		—		15,588

Recognition of net gains/losses on benefit obligations (net of taxes of $9,974)	—		30,635		—		30,635

Reclassifications from other comprehensive loss to net income:
Amortization of loss on cash flow hedge (net of taxes of $303)	—		—		831		831
Amortization of prior service cost and deferred gains/losses (net of taxes of $7,298)	—		20,046		—		20,046
Balance, January 30, 2021	$	(441,532)	$	(164,802)	$	263	$	(606,071)
Additions to other comprehensive loss:
Foreign currency translation adjustments (net of taxes of $207)	(46,715)		—		—		(46,715)
Recognition of net gains/losses on benefit obligations (net of taxes of $17,659)	—		(48,504)		—		(48,504)
Reclassifications from other comprehensive loss to net income:
Amortization of loss on cash flow hedge (net of taxes of $603)	—		—		(263)		(263)
Amortization of prior service cost and deferred gains/losses (net of taxes of $4,588)	—		14,403		—		14,403
Balance, January 29, 2022	$	(488,247)	$	(198,903)	$	—	$	(687,150)

Capital Stock and Earnings Per Share

12 Months Ended

Jan. 29, 2022

Capital Stock and Earnings Per Share

Capital Stock

During the second quarter of fiscal 2022, the Company lifted the temporary suspension of its previously authorized stock repurchase programs. TJX repurchased and retired 32 million shares of its common stock at a cost of approximately $2.2 billion during fiscal 2022, on a “trade date” basis. Prior to the suspension of the Company’s share repurchase program, during the first quarter of fiscal 2021, TJX repurchased and retired 3 million shares of its common stock at a cost of $0.2 billion on a “trade date” basis, and no shares were repurchased during the second quarter of fiscal 2021 through the first quarter of fiscal 2022.

TJX reflects stock repurchases in its consolidated financial statements on a “settlement date” or cash basis. TJX had cash expenditures under repurchase programs of $2.2 billion in fiscal 2022, $0.2 billion in fiscal 2021 and $1.6 billion in fiscal 2020 and repurchased 31 million shares in fiscal 2022, 3 million shares in fiscal 2021 and 28 million shares in fiscal 2020. These expenditures were funded by cash generated from operations.

In February 2022, the Company announced that its Board of Directors had approved a new stock repurchase program that authorizes the repurchase of up to an additional $3.0 billion of TJX common stock from time to time. Under this program and previously announced programs, TJX had approximately $3.8 billion available for repurchase as of January 29, 2022.

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 table presents the calculation of basic and diluted earnings per share:


	Fiscal Year Ended
In thousands except per share amounts	January 29, 2022		January 30, 2021		February 1, 2020

Basic earnings per share:
Net income	$	3,282,815	$	90,470	$	3,272,193
Weighted average common stock outstanding for basic earnings per share calculation	1,199,990		1,199,927		1,208,163
Basic earnings per share	$	2.74	$	0.08	$	2.71
Diluted earnings per share:
Net income	$	3,282,815	$	90,470	$	3,272,193
Weighted average common stock outstanding for basic earnings per share calculation	1,199,990		1,199,927		1,208,163
Assumed exercise/vesting of:
Stock options and awards	15,601		14,776		18,356
Weighted average common stock outstanding for diluted earnings per share calculation	1,215,591		1,214,703		1,226,519
Diluted earnings per share	$	2.70	$	0.07	$	2.67
Cash dividends declared per share(a)	$	1.04	$	0.26	$	0.92

(a)There were no dividends declared during the first three quarters of fiscal 2021. The Company declared a dividend of $0.26 per share in the fourth quarter of fiscal 2021.

The weighted average common shares for the diluted earnings per share calculation excludes the impact of outstanding stock options if the assumed proceeds per share of the option is in excess of the average price of TJX’s common stock for the related fiscal periods. Such options are excluded because they would have an antidilutive effect. There were 5.2 million, 6.2 million and 11.8 million such options excluded at the end of fiscal 2022, fiscal 2021 and fiscal 2020, respectively.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments

12 Months Ended

Jan. 29, 2022

Financial Instruments

Financial InstrumentsAs a result of its operating and financing activities, TJX is exposed to market risks from changes in interest and foreign currency exchange rates and fuel costs. These market risks may adversely affect TJX’s operating results and financial position. TJX seeks to minimize risk from changes in interest and foreign currency exchange rates and fuel costs through the use of derivative financial instruments when and to the extent deemed appropriate. TJX does not use derivative financial instruments for trading or other speculative purposes and does not use any leveraged derivative financial instruments. TJX recognizes all derivative instruments as either assets or liabilities in the Consolidated Balance Sheet and measures those instruments at fair value. The fair values of the derivatives are classified as assets or liabilities, current or non-current, based upon valuation results and settlement dates of the individual contracts. Changes to the fair value of derivative contracts that do not qualify for hedge accounting are reported in earnings in the period of the change. For derivatives that qualify for hedge accounting, changes in the fair value of the derivatives are either recorded in shareholders’ equity as a component of accumulated other comprehensive (loss) or are recognized currently in earnings, along with an offsetting adjustment against the basis of the item being hedged.

Diesel Fuel Contracts

TJX hedges portions of its estimated notional diesel requirements based on the diesel fuel expected to be consumed by independent freight carriers transporting TJX’s inventory. Independent freight carriers transporting TJX’s inventory charge TJX a mileage surcharge based on the price of diesel fuel. The hedge agreements are designed to mitigate the volatility of diesel fuel pricing (and the resulting per mile surcharges payable by TJX) by setting a fixed price per gallon for the period being hedged. During fiscal 2022, TJX entered into agreements to hedge a portion of its estimated notional diesel requirements for fiscal 2023. The hedge agreements outstanding at January 29, 2022 relate to approximately 50% of TJX’s estimated notional diesel requirements for fiscal 2023. These diesel fuel hedge agreements will settle throughout fiscal 2023 and throughout the first month of fiscal 2024. TJX elected not to apply hedge accounting to these contracts.

Foreign Currency Contracts

TJX enters into forward foreign currency exchange contracts to obtain economic hedges on portions of merchandise purchases made and anticipated to be made by the Company’s operations in currencies other than their respective functional currencies. The contracts outstanding at January 29, 2022 cover merchandise purchases the Company is committed to over the next several months. Additionally, TJX’s operations in Europe are subject to foreign currency exposure as a result of their buying function being centralized in the U.K. All merchandise is purchased centrally in the U.K. and then shipped and billed to the retail entities in other countries. This intercompany billing to TJX’s European businesses’ Euro denominated operations creates exposure to the central buying entity for changes in the exchange rate between the Euro and British Pound. A portion of the inflows of Euros to the central buying entity provides a natural hedge for merchandise purchased from third-party vendors that is denominated in Euros. TJX calculates any excess Euro exposure each month and enters into forward contracts of approximately 30 days’ duration to mitigate this exposure.

TJX also enters into derivative contracts, generally designated as fair value hedges, to hedge intercompany debt. The changes in fair value of these contracts are recorded in Selling, general and administrative expenses and are offset by marking the underlying item to fair value in the same period. Upon settlement, the realized gains and losses on these contracts are offset by the realized gains and losses of the underlying item in Selling, general and administrative expenses.

The following is a summary of TJX’s derivative financial instruments, related fair value and balance sheet classification at January 29, 2022:


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 29, 2022
Fair value hedges:
Intercompany balances, primarily debt and related interest:
	zł	25,000	£	4,541	0.1816	Prepaid Exp	$	72	$	—	$	72
	€	60,000	£	50,568	0.8428	Prepaid Exp	111		—		111
	A$	170,000	U.S.$	122,061	0.7180	Prepaid Exp	2,047		—		2,047
	U.S.$	74,646	£	55,000	0.7368	(Accrued Exp)	—		(918)		(918)

	€	200,000	U.S.$	230,319	1.1516	Prepaid Exp	4,535				4,535
Economic hedges for which hedge accounting was not elected:
Diesel contracts	Diesel fuel contracts	Fixed on 3.6M - 4.0M gal per month		Float on 3.6M - 4.0M gal per month	N/A	Prepaid Exp	23,649		—		23,649
Intercompany billings in TJX International, primarily merchandise related:
	€	91,000	£	75,894	0.8340	(Accrued Exp)	—		(145)		(145)
Merchandise purchase commitments:
	C$	987,756	U.S.$	783,000	0.7927	Prepaid Exp / (Accrued Exp)	6,641		(80)		6,561
	C$	38,138	€	26,500	0.6948	(Accrued Exp)	—		(248)		(248)
	£	325,482	U.S.$	442,100	1.3583	Prepaid Exp / (Accrued Exp)	6,023		(632)		5,391
	zł	453,000	£	82,112	0.1813	Prepaid Exp / (Accrued Exp)	744		(449)		295
	A$	65,551	U.S.$	47,500	0.7246	Prepaid Exp	1,270		—		1,270
	U.S.$	66,989	€	59,000	0.8807	(Accrued Exp)	—		(820)		(820)
Total fair value of financial instruments							$	45,092	$	(3,292)	$	41,800

The following is a summary of TJX’s derivative financial instruments, related fair value and balance sheet classification at January 30, 2021:


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 30, 2021
Fair value hedges:
Intercompany balances, primarily debt and related interest:
	zł	45,000	£	8,846	0.1966	Prepaid Exp	$	11	$	—	$	11
	A$	80,000	U.S.$	62,032	0.7754	Prepaid Exp	738		—		738
	U.S.$	75,102	£	55,000	0.7323	Prepaid Exp	357		—		357
	£	200,000	U.S.$	274,853	1.3743	Prepaid Exp	32		—		32
	€	200,000	U.S.$	244,699	1.2235	Prepaid Exp / (Accrued Exp)	427		(182)		245
Economic hedges for which hedge accounting was not elected:
	Diesel fuel contracts	Fixed on 1.5M - 3.8M gal per month		Float on 1.5M - 3.8M gal per month	N/A	Prepaid Exp	4,880		—		4,880


Merchandise purchase commitments:
	C$	384,679	U.S.$	296,000	0.7695	Prepaid Exp / (Accrued Exp)	430		(5,627)		(5,197)
	C$	5,391	€	3,500	0.6492	Prepaid Exp	24		—		24
	£	203,264	U.S.$	263,950	1.2986	(Accrued Exp)	—		(15,086)		(15,086)
	zł	30,000	£	5,865	0.1955	(Accrued Exp)	—		(29)		(29)
	A$	46,985	U.S.$	35,250	0.7502	Prepaid Exp / (Accrued Exp)	144		(837)		(693)
	U.S.$	99,810	€	83,700	0.8386	Prepaid Exp / (Accrued Exp)	1,986		(160)		1,826
Total fair value of financial instruments							$	9,029	$	(21,921)	$	(12,892)

The impact of derivative financial instruments on the Consolidated Statement of Income during fiscal 2022, fiscal 2021 and fiscal 2020 is presented below:


	Location of Gain (Loss) Recognized in Income by Derivative	Amount of Gain (Loss) Recognized in Income by Derivative
In thousands		January 29, 2022		January 30, 2021		February 1, 2020

Fair value hedges:
Intercompany balances, primarily debt and related interest	Selling, general and administrative expenses	$	36,033	$	(59,829)	$	4,788
Economic hedges for which hedge accounting was not elected:
Intercompany receivable	Selling, general and administrative expenses	—		—		3,257
Diesel fuel contracts	Cost of sales, including buying and occupancy costs	43,306		(5,638)		(9,780)
Intercompany billings in TJX International, primarily merchandise related	Cost of sales, including buying and occupancy costs	5,021		(4,249)		2,652
International lease liabilities	Cost of sales, including buying and occupancy costs	—		—		(1,113)
Merchandise purchase commitments	Cost of sales, including buying and occupancy costs	23,952		(4,468)		10,484
Gain (loss) recognized in income		$	108,312	$	(74,184)	$	10,288

Included in the table above are realized gains of $54 million in fiscal 2022, realized losses of $74 million in fiscal 2021 and realized gains of $20 million in fiscal 2020, all of which were largely offset by gains and losses on the underlying hedged item.

Fair Value Measurements

12 Months Ended

Jan. 29, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date or “exit price”. The inputs used to measure fair value are generally classified into the following hierarchy:


Level 1:						Unadjusted quoted prices in active markets for identical assets or liabilities
Level 2:						Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability
Level 3:						Unobservable inputs for the asset or liability

The following table sets forth TJX’s financial assets and liabilities that are accounted for at fair value on a recurring basis:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021
Level 1
Assets:
Executive Savings Plan investments	$	387,666	$	363,729
Level 2
Assets:
Foreign currency exchange contracts	$	21,443	$	4,149
Diesel fuel contracts	23,649		4,880
Liabilities:
Foreign currency exchange contracts	$	3,292	$	21,921

Investments designed to meet obligations under the Executive Savings Plan are invested in registered investment companies traded in active markets and are recorded at unadjusted quoted prices.

Foreign currency exchange contracts and diesel fuel contracts are valued using broker quotations, which include observable market information. TJX does not make adjustments to quotes or prices obtained from brokers or pricing services but does assess the credit risk of counterparties and will adjust final valuations when appropriate. Where independent pricing services provide fair values, TJX obtains an understanding of the methods used in pricing. As such, these instruments are classified within Level 2.

The fair value of TJX’s general corporate debt was estimated by obtaining market quotes given the trading levels of other bonds of the same general issuer type and market perceived credit quality. These inputs are considered to be Level 2. The fair value of long-term debt at January 29, 2022 was $3.5 billion compared to a carrying value of $3.4 billion. The fair value of long-term debt at January 30, 2021 was $5.9 billion compared to a carrying value of $5.3 billion. The fair value of the current portion of long-term debt as of January 30, 2021 was $754 million compared to a carrying value of $750 million. These estimates do not necessarily reflect provisions or restrictions in the various debt agreements that might affect TJX’s ability to settle these obligations. For additional information on long-term debt, see Note J—Long-Term Debt and Credit Lines.

TJX’s cash equivalents are stated at cost, which approximates fair value due to the short maturities of these instruments.

Certain assets and liabilities are measured at fair value on a nonrecurring basis, whereas the majority of assets and liabilities are not measured at fair value on an ongoing basis, but are subject to fair value adjustments in certain circumstances, such as when there is evidence of an impairment. For the years ended January 29, 2022, January 30, 2021 and February 1,
2020, the Company did not record any material impairments to long-lived assets.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Segment Information

12 Months Ended

Jan. 29, 2022

Segment Reporting [Abstract]

Segment Information

TJX operates four main business segments. The Marmaxx segment (T.J. Maxx, Marshalls, tjmaxx.com and marshalls.com) and the HomeGoods segment (HomeGoods, Homesense and homegoods.com) both operate in the United States, the TJX Canada segment operates Winners, HomeSense and Marshalls in Canada, and the TJX International segment operates T.K. Maxx, Homesense and tkmaxx.com in Europe and T.K. Maxx in Australia. In addition to the Company’s four main business segments, Sierra operates sierra.com and retail stores in the U.S. The results of Sierra are included in the Marmaxx segment.

All of TJX’s stores, with the exception of HomeGoods and HomeSense, sell family apparel and home fashions. HomeGoods and HomeSense offer home fashions. The percentages of the Company’s consolidated revenues by major product category for the last three fiscal years are as follows:


	Fiscal 2022		Fiscal 2021		Fiscal 2020
Apparel:
Clothing including footwear	47	%	46	%	51	%
Jewelry and accessories	15		15		16
Home fashions	38		39		33
Total	100	%	100	%	100	%

TJX evaluates the performance of its segments based on “segment profit or loss,” which it defines as pre-tax income or loss before general corporate expense, interest expense, net and certain separately disclosed unusual or infrequent items. “Segment profit or loss,” as defined by TJX, may not be comparable to similarly titled measures used by other entities. This measure of performance should not be considered an alternative to net income or cash flows from operating activities as an indicator of TJX’s performance or as a measure of liquidity.

Presented below is financial information with respect to TJX’s business segments:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021		February 1, 2020
Net sales:
In the United States:
Marmaxx	$	29,483,073	$	19,362,573	$	25,664,805
HomeGoods	8,995,140		6,096,237		6,355,770
TJX Canada	4,342,538		2,836,088		4,031,406
TJX International	5,729,231		3,842,064		5,664,996
Total net sales	$	48,549,982	$	32,136,962	$	41,716,977
Segment profit (loss):
In the United States:
Marmaxx	$	3,812,847	$	891,180	$	3,469,794
HomeGoods	907,391		509,562		680,520
TJX Canada	484,585		124,143		515,559
TJX International	161,199		(503,618)		307,081
Total segment profit	$	5,366,022	$	1,021,267	$	4,972,954
General corporate expense	611,090		439,037		556,745
Loss on early extinguishment of debt	242,248		312,233		—
Interest expense, net	115,076		180,734		10,026

Income before income taxes	$	4,397,608	$	89,263	$	4,406,183

Business segment information (continued):


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021		February 1, 2020
Identifiable assets:
In the United States:
Marmaxx	$	11,230,232	$	10,220,441	$	11,162,890
HomeGoods	3,460,830		2,851,131		2,785,006
TJX Canada	2,196,895		2,035,341		1,889,679
TJX International	4,280,596		4,389,261		4,284,385
Corporate(a)	7,292,905		11,317,381		4,023,043
Total identifiable assets	$	28,461,458	$	30,813,555	$	24,145,003
Capital expenditures:
In the United States:
Marmaxx	$	514,141	$	216,186	$	614,624
HomeGoods	243,551		162,200		251,864
TJX Canada	68,585		43,879		101,862
TJX International	218,517		145,756		254,766
Total capital expenditures(b)	$	1,044,794	$	568,021	$	1,223,116
Depreciation and amortization:
In the United States:
Marmaxx	$	464,660	$	478,963	$	473,908
HomeGoods	149,130		135,205		124,360
TJX Canada	72,507		70,777		66,693
TJX International	174,216		175,824		197,262
Corporate(c)	7,489		9,989		5,080
Total depreciation and amortization	$	868,002	$	870,758	$	867,303

(a)Corporate identifiable assets consist primarily of cash, the trust assets in connection with the Executive Savings Plan and the investment in Familia. Consolidated cash, including cash held in the Company’s foreign entities, is included with corporate assets for consistency with the reporting of cash for the Company’s segments in the U.S.

(b)Fiscal 2022 increase in capital spending due to the COVID-19 pandemic impacts in fiscal 2021.

(c)Includes debt discount accretion and debt expense amortization.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Share-based Payment Arrangement [Abstract]

Stock Incentive Plan

12 Months Ended

Jan. 29, 2022

Stock Incentive Plan

TJX has a Stock Incentive Plan under which options and other share-based awards may be granted to its directors, officers and key employees. The number of shares authorized for issuance under this plan has been approved by TJX’s shareholders, and all share-based compensation awards are made under this plan. The Stock Incentive Plan, as amended with shareholder approval, has provided for the issuance of up to 696 million shares with 28 million shares available for future grants as of January 29, 2022. TJX issues shares under the plan from authorized but unissued common stock.

Total compensation cost related to share-based compensation was $189 million, $59 million and $125 million in fiscal 2022, 2021 and 2020, respectively. As of January 29, 2022, there was $160 million of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the plan. That cost is expected to be recognized over a weighted-average period of 2 years.

Stock Options

Options for the purchase of common stock are granted with an exercise price that is 100% of market price on the grant date, generally vest in thirds over a 3-year period starting 1 year after the grant, and have a 10-year maximum term. When options are granted with other vesting terms, the vesting information is reflected in the valuation.

The fair value of options is estimated as of the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions:


	Fiscal Year Ended
	January 29, 2022			January 30, 2021			February 1, 2020
Risk-free interest rate	0.84		%	0.28		%	1.65		%
Dividend yield(a)	1.5		%	1.4		%	1.6		%
Expected volatility factor	23.8		%	26.5		%	23.4		%
Expected option life	5.0 years			5.0 years			4.9 years
Weighted average fair value of options issued	$	12.85		$	11.29		$	10.84

(a)The reduction in the yield in fiscal 2021 reflected the temporary suspension of dividends due to the COVID-19 pandemic. TJX calculated an implied dividend yield of 1.4% by anticipating dividends to resume. The decrease in expected dividend yield reflected the suspension of dividend payments during the first nine months of fiscal 2021.

The risk-free interest rate is for periods within the contractual life of the option based on the U.S. Treasury yield curve in effect at the time of grant. The Company uses historical data to estimate option exercises, employee termination behavior and dividend yield within the valuation model. Expected volatility is based on a combination of implied volatility from traded options on the Company’s stock, and historical volatility during a term approximating the expected life of the option granted. The expected option life represents an estimate of the period of time options are expected to remain outstanding based upon historical exercise trends. Employee groups and option characteristics are considered separately for valuation purposes when applicable.

A summary of the status of TJX’s stock options and related weighted average exercise prices (“WAEP”) is presented below:


	Fiscal Year Ended
Shares in thousands	January 29, 2022			January 30, 2021			February 1, 2020
	Options	WAEP		Options	WAEP		Options	WAEP

Outstanding at beginning of year	42,604	$	41.79	45,065	$	36.81	49,053	$	32.02
Granted	5,324	70.48		6,268	57.32		6,150	56.74
Exercised	(7,160)	32.04		(8,239)	25.68		(9,518)	24.40
Forfeitures	(535)	57.55		(490)	52.96		(620)	46.37
Outstanding at end of year	40,233	$	47.11	42,604	$	41.79	45,065	$	36.81
Options exercisable at end of year	29,159	$	40.93	30,659	$	36.05	32,276	$	31.04

The total intrinsic value of options exercised was $275 million in fiscal 2022, $279 million in fiscal 2021 and $293 million in fiscal 2020.

The following table summarizes information about stock options outstanding that were expected to vest and stock options outstanding that were exercisable as of January 29, 2022:


	Shares (in thousands)	Aggregate Intrinsic Value (in thousands)		Weighted Average Remaining Contract Life	WAEP
Options outstanding expected to vest(a)	10,281	$	83,586	8.9 years	$	63.25
Options exercisable	29,159	$	887,932	5.0 years	$	40.93
Total outstanding options vested and expected to vest	39,440	$	971,518	6.0 years	$	46.75

(a)Reflects 11 million unvested options, net of anticipated forfeitures.

Stock Awards

TJX grants restricted stock units and performance share units under the Stock Incentive Plan. Restricted stock units and performance share units are collectively referred to as stock awards. These awards were granted without a purchase price to the recipient and are subject to vesting conditions. Vesting conditions for performance share units include specified performance criteria, generally for a period of three fiscal years. The grant date fair value of the stock awards is charged to income over the requisite service period during which the recipient must remain employed. The fair value of the stock awards is determined at date of grant in accordance with ASC Topic 718 and, for performance share units, assumes that performance goals will be achieved at target. Performance share units and related compensation costs recognized are adjusted, as applicable, for performance above or below the target specified in the award.

During fiscal 2022 and fiscal 2021, modifications were approved to previously-granted nonvested performance share unit awards. Under ASC Topic 718 these modifications required that the fair value of these awards be adjusted to reflect the fair value on the date of the modification and resulted in a share-based compensation charge of $37 million in fiscal 2022 and $16 million in fiscal 2021.

A summary of the status of the Company’s non-vested stock awards and changes during fiscal 2022 is presented below:


In thousands except grant date fair value	Restricted Stock Units	Performance Share Units	Total Stock Awards	Weighted Average Grant Date Fair Value
Nonvested at beginning of year	1,799	1,122	2,921	$	51.36
Granted	513	307	820	65.53
Vested	(460)	(378)	(838)	52.77
Forfeited	(16)	(4)	(20)	60.24
Modification	—	(115)	(115)	54.99
Nonvested at end of year	1,836	932	2,768	58.91

There were 819,587 units with a weighted average grant date fair value of $65.53, granted in fiscal 2022, 857,216 units, with a weighted average grant date fair value of $56.24, granted in fiscal 2021, and 1,001,849 units, with a weighted average grant date fair value of $53.20, granted in fiscal 2020. The fair value of awards that vested was $44 million in fiscal 2022, $57 million in fiscal 2021, and $38 million in fiscal 2020.

The nonvested performance share units are based on the target level of performance achievement under the awards. The actual payout of performance share units will depend on performance results for the award cycle.

Other Awards

TJX also awards deferred shares to its outside directors under the Stock Incentive Plan. As of the end of fiscal 2022, a total of 557,241 of these deferred shares were outstanding under the plan.

Pension Plans and Other Retirement Benefits

12 Months Ended

Jan. 29, 2022

Retirement Benefits [Abstract]

Pension Plans and Other Retirement Benefits

Pension

TJX has a funded defined benefit retirement plan that covers eligible U.S. employees hired prior to February 1, 2006. No employee contributions are required, or permitted, and benefits are based principally on compensation earned in each year of service. TJX’s funded defined benefit retirement plan assets are invested in domestic and international equity and fixed income securities, both directly and through investment funds. The plan does not invest in TJX securities. TJX also has an unfunded supplemental retirement plan that covers certain key employees and provides additional retirement benefits based on final average compensation for certain of those employees (the “primary benefit”) or, alternatively, based on benefits that would be provided under the funded retirement plan absent Internal Revenue Code limitations (the “alternative benefit”).

Presented below is financial information relating to TJX’s funded defined benefit pension plan (“qualified pension plan” or “funded plan”) and its unfunded supplemental pension plan (“unfunded plan”) for the fiscal years indicated. The Company has elected the practical expedient pursuant to ASU 2015-4– Compensation-retirement benefits (Topic 715) and has selected the measurement date of January 31, the calendar month end closest to the Company’s fiscal year end.


	Funded Plan Fiscal Year Ended				Unfunded Plan Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021		January 29, 2022		January 30, 2021

Change in projected benefit obligation:
Projected benefit obligation at beginning of year	$	1,619,274	$	1,532,416	$	113,478	$	104,823
Service cost	49,116		50,123		2,426		2,430
Interest cost	52,097		50,210		3,099		3,283
Actuarial losses	29,350		13,758		233		8,229

Benefits paid	(29,548)		(24,527)		(4,447)		(5,287)
Expenses paid	(3,034)		(2,706)		—		—
Projected benefit obligation at end of year	$	1,717,255	$	1,619,274	$	114,789	$	113,478
Accumulated benefit obligation at end of year	$	1,560,239	$	1,481,505	$	100,108	$	97,451


	Funded Plan Fiscal Year Ended				Unfunded Plan Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021		January 29, 2022		January 30, 2021

Change in plan assets:
Fair value of plan assets at beginning of year	$	1,686,735	$	1,562,274	$	—	$	—
Actual return on plan assets	59,422		151,594		—		—
Employer contribution	100		100		4,447		5,287

Benefits paid	(29,548)		(24,527)		(4,447)		(5,287)
Expenses paid	(3,034)		(2,706)		—		—
Fair value of plan assets at end of year	$	1,713,675	$	1,686,735	$	—	$	—
Reconciliation of funded status:
Projected benefit obligation at end of year	$	1,717,255	$	1,619,274	$	114,789	$	113,478
Fair value of plan assets at end of year	1,713,675		1,686,735		—		—
Funded status – excess obligation (asset)	$	3,580	$	(67,461)	$	114,789	$	113,478
Net liability (asset) recognized on Consolidated Balance Sheets	$	3,580	$	(67,461)	$	114,789	$	113,478
Amounts not yet reflected in net periodic benefit cost and included in Accumulated other comprehensive income (loss):
Prior service cost	$	426	$	803	$	—	$	—
Accumulated actuarial losses	297,336		245,506		31,599		35,880
Amounts included in Accumulated other comprehensive income (loss)	$	297,762	$	246,309	$	31,599	$	35,880

The Consolidated Balance Sheets reflect the funded status of the plans with any unrecognized prior service cost and actuarial gains and losses recorded in Accumulated other comprehensive income (loss). The combined net accrued liability of $118 million at January 29, 2022 is reflected on the Consolidate Balance Sheets as of that date as a current liability of $4 million and a long-term liability of $114 million. The combined net accrued liability of $46 million at January 30, 2021 is reflected on the Consolidated Balance Sheets as of that date as a current liability of $7 million, a long-term liability of $106 million, and a long-term asset of $67 million.

The increase in the actuarial losses included in Accumulated other comprehensive income (loss) for the funded plan for fiscal 2022 was driven by the actual return on assets which was $37 million less than the Company’s estimated return.

TJX determined the assumed discount rate using the BOND: Link model in fiscal 2022 and fiscal 2021. TJX uses the BOND: Link model as this model allows for the selection of specific bonds resulting in better matches in timing of the plans’ expected cash flows. Presented below are weighted average assumptions for measurement purposes for determining the obligation at the year-end measurement date:


	Funded Plan Fiscal Year Ended				Unfunded Plan Fiscal Year Ended
	January 29, 2022		January 30, 2021		January 29, 2022		January 30, 2021
Discount rate	3.40	%	3.20	%	3.30	%	2.80	%
Rate of compensation increase(a)	4.00	%	4.00	%	4.00	%	4.00	%

(a)As of fiscal 2020, the rate of compensation increase for the Unfunded Plan, reflects the rate for participants eligible for the alternative benefit as the participants eligible for the primary benefit no longer accrue benefits under this plan.

TJX made aggregate cash contributions of $5 million in fiscal 2022, $5 million in fiscal 2021 and $102 million in fiscal 2020 to the funded plan and to fund current benefit and expense payments under the unfunded plan. TJX’s policy with respect to the funded plan is to fund, at a minimum, the amount required to maintain a funded status of 80% of the applicable pension liability (the Funding Target pursuant to the Internal Revenue Code section 430) or such other amount as is sufficient to avoid restrictions with respect to the funding of nonqualified plans under the Internal Revenue Code. The Company does not anticipate any required funding in fiscal 2023 for the funded plan. The Company anticipates making contributions of $4 million to provide current benefits coming due under the unfunded plan in fiscal 2023.

The following are the components of net periodic benefit cost and other amounts recognized in other comprehensive income (loss) related to the Company’s pension plans:


	Funded Plan Fiscal Year Ended									Unfunded Plan Fiscal Year Ended
In thousands	January 29, 2022			January 30, 2021			February 1, 2020			January 29, 2022			January 30, 2021			February 1, 2020

Net periodic pension cost:
Service cost	$	49,116		$	50,123		$	44,685		$	2,426		$	2,430		$	2,059
Interest cost	52,097			50,210			52,172			3,099			3,283			3,740
Expected return on plan assets	(96,002)			(88,997)			(74,141)			—			—			—
Amortization of prior service cost	377			377			377			—			—			—
Amortization of net actuarial loss	14,101			22,351			19,055			4,513			4,616			3,124

Total expense	$	19,689		$	34,064		$	42,148		$	10,038		$	10,329		$	8,923
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net loss (gain)	$	65,930		$	(48,838)		$	71,590		$	233		$	8,229		$	4,682
Amortization of net (loss)	(14,101)			(22,351)			(19,055)			(4,513)			(4,616)			(3,124)

Amortization of prior service cost	(377)			(377)			(377)			—			—			—
Total recognized in other comprehensive income (loss)	$	51,452		$	(71,566)		$	52,158		$	(4,280)		$	3,613		$	1,558
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	71,141		$	(37,502)		$	94,306		$	5,758		$	13,942		$	10,481
Weighted average assumptions for expense purposes:
Discount rate	3.20		%	3.30		%	4.30		%	2.80		%	3.10		%	4.10		%
Expected rate of return on plan assets	5.75		%	5.75		%	6.00		%	N/A			N/A			N/A
Rate of compensation increase(a)	4.00		%	4.00		%	4.00		%	4.00		%	4.00		%	6.00		%

(a)For fiscal 2020, the rate of compensation increase for participants eligible for the primary benefit under the unfunded plan is 6.00%. The assumed rate of compensation increase for participants eligible for the alternative benefit under the unfunded plan is 4.00%.

TJX develops its long-term rate of return assumption by evaluating input from professional advisors taking into account the asset allocation of the portfolio and long-term asset class return expectations, as well as long-term inflation assumptions.

The unrecognized gains and losses in excess of 10% of the projected benefit obligation are amortized over the average remaining service life of participants.

The following is a schedule of the benefits expected to be paid in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter:


In thousands	Funded Plan Expected Benefit Payments		Unfunded Plan Expected Benefit Payments
Fiscal Year:
2023	$	40,162	$	3,888
2024	46,253		5,042
2025	52,352		6,363
2026	58,390		52,601
2027	64,463		8,424
2028 through 2032	408,023		41,209

The following tables present the fair value hierarchy (See Note F—Fair Value Measurements) for pension assets measured at fair value on a recurring basis as of January 29, 2022 and January 30, 2021:


	Funded Plan at January 29, 2022
In thousands	Level 1		Level 2		Total
Asset category:
Short-term investments	$	8,537	$	—	$	8,537
Equity Securities	178,336		—		178,336
Fixed Income Securities:
Corporate and government bond funds	—		1,021,612		1,021,612
Futures Contracts	—		2,806		2,806
Total assets in the fair value hierarchy	$	186,873	$	1,024,418	$	1,211,291
Assets measured at net asset value(a)	—		—		502,384
Fair value of assets	$	186,873	$	1,024,418	$	1,713,675


	Funded Plan at January 30, 2021
In thousands	Level 1		Level 2		Total
Asset category:
Short-term investments	$	8,598	$	—	$	8,598
Equity Securities	174,691		—		174,691
Fixed Income Securities:
Corporate and government bond funds	—		548,667		548,667
Futures Contracts	—		4,896		4,896
Total assets in the fair value hierarchy	$	183,289	$	553,563	$	736,852
Assets measured at net asset value(a)	—		—		949,883
Fair value of assets	$	183,289	$	553,563	$	1,686,735

(a)In accordance with Subtopic 820-10, certain investments that were measured using net asset value per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the fair value of assets presented above.

Pension plan assets are reported at fair value. Investments in equity securities traded on a national securities exchange are valued at the composite close price, as reported in the Wall Street Journal, as of the financial statement date. This information is provided by the independent pricing sources.

Short-term investments are primarily cash related to funding of the plan which had yet to be invested as of balance sheet dates.

Certain corporate and government bonds are valued at the closing price reported in the active market in which the bond is traded. Other bonds are valued based on yields currently available on comparable securities of issuers with similar credit ratings. When quoted prices are not available for identical or similar bonds, the bond is valued under a discounted cash flow approach that maximizes observable inputs, such as current yields of similar instruments, but includes adjustments for certain risks that may not be observable, such as credit and liquidity risks. All bonds are priced by independent pricing sources.

Assets measured at net asset value include investments in limited partnerships which are stated at the fair value of the plan’s partnership interest based on information supplied by the partnerships as compared to financial statements of the limited partnership or other fair value information as determined by management. Cash equivalents or short-term investments are stated at cost which approximates fair value, and the fair value of common/collective trusts is determined based on net asset value as reported by their fund managers.

Following is the asset allocation under the qualified pension plan as of the valuation date for the fiscal years presented:


	January 29, 2022	January 30, 2021
Return-seeking assets	45%	48%
Liability-hedging assets	55%	51%
All other – primarily cash	—%	1%

Under TJX’s investment policy, qualified pension plan assets are to be invested with the objective of generating investment returns that, in combination with funding contributions, provide adequate assets to meet all current and reasonably anticipated future benefit obligations under the plan. The investment policy includes a dynamic asset allocation strategy, whereby, over time, in connection with improvements in the plan’s funded status, the target allocation of return-seeking assets (generally, equities and other instruments with similar risk profile) may decline and the target allocation of liability-hedging assets (generally, fixed income and other instruments with a similar risk profile) may increase. Under the investment policy guidelines, the target asset allocation of return-seeking assets and liability-hedging assets was 44% and 56%, respectively, as of January 29, 2022. Risks are sought to be mitigated through asset diversification and the use of multiple investment managers. Investment risk is measured and monitored on an ongoing basis through investment portfolio reviews, annual liability measurements and periodic asset/liability studies.

Other Retirement Benefits

TJX also sponsors an employee savings plan under Section 401(k) of the Internal Revenue Code for all eligible U.S. employees and a similar type of plan for eligible employees in Puerto Rico. Employees may contribute up to 50% of eligible pay, subject to limitations. TJX matches employee contributions, up to 5% of eligible pay, including a basic match at rates of 25% or 75% (based upon date of hire and other eligibility criteria) plus a discretionary match, generally up to 25%, based on TJX’s performance. TJX may also make additional discretionary contributions. Eligible employees are automatically enrolled in the U.S. Plan and, effective February 1, 2022, the Puerto Rico savings plan at a 2% deferral rate, unless the employee elects otherwise. The total cost of TJX contributions to these plans was $83 million in fiscal 2022, $61 million in fiscal 2021 and $59 million in fiscal 2020.

TJX also has a nonqualified savings plan (the Executive Savings Plan) for certain U.S. employees. TJX matches employee deferrals at various rates which amounted to $7 million in fiscal 2022, $3 million in fiscal 2021 and $7 million in fiscal 2020. Although the plan is unfunded, in order to help meet its future obligations TJX transfers an amount generally equal to employee deferrals and the related company match to a separate “rabbi” trust. The trust assets, which are invested in a variety of mutual funds, are included in other assets on the balance sheets.

In addition to the plans described above, TJX also contributes to retirement/deferred savings programs for eligible Associates at certain of its foreign subsidiaries. The Company contributed $26 million for these programs in fiscal 2022, $22 million for these programs in fiscal 2021 and $20 million in fiscal 2020.

Multiemployer Pension Plans

TJX contributes to certain multiemployer defined benefit pension plans under the terms of collective-bargaining agreements that cover union-represented employees. TJX contributed $25 million in fiscal 2022, $19 million in fiscal 2021 and $20 million in fiscal 2020 to the Legacy Plan of the National Retirement Fund (EIN #13-6130178, plan #1), the Adjustable Plan of the National Retirement Fund (EIN #13-6130178, plan #2), the Legacy Plan of the UNITE HERE Retirement Fund (EIN #82-0994119, plan #1) and the Adjustable Plan of the UNITE HERE Retirement Fund (EIN #82-0994119, plan #2). TJX was listed in the Form 5500 for the Legacy Plan of the National Retirement Fund and the Adjustable Plan of the National Retirement Fund as providing more than 5% of the total contributions for the plan year ending December 31, 2020. In addition, based on information available to TJX, the Pension Protection Act Zone status for the Legacy Plan of the National Retirement Fund is critical and for the Legacy Plan of the UNITE HERE Retirement Fund is critical and declining, and rehabilitation plans have been adopted by these plans.

The risks of participating in multiemployer pension plans are different from the risks of single-employer pension plans in certain respects, including the following: (a) assets contributed to the multiemployer plan by one employer may be used to provide benefits to employees of other participating employers; (b) if a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers; (c) if TJX ceases to have an obligation to contribute to a multiemployer plan in which the Company had been a contributing employer, or in certain other circumstances, the Company may be required to pay to the plan an amount based on the Company’s allocable share of the underfunded status of the plan, referred to as a withdrawal liability.

The entire disclosure for retirement benefits.

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Long-Term Debt and Credit Lines

Long-Term Debt and Credit Lines

12 Months Ended

Jan. 29, 2022

Debt Disclosure [Abstract]

The table below presents long-term debt, exclusive of current installments, as of January 29, 2022 and January 30, 2021. All amounts are net of unamortized debt discounts.


In thousands	January 29, 2022		January 30, 2021
General corporate debt:
2.750% senior unsecured notes, redeemed on April 15, 2021 (effective interest rate of 2.76% after reduction of unamortized debt discount of $25 in fiscal 2021)	$	—	$	749,975
2.500% senior unsecured notes, maturing May 15, 2023 (effective interest rate of 2.51% after reduction of unamortized debt discount of $56 and $100 in fiscal 2022 and 2021, respectively)	499,944		499,900
3.500% senior unsecured notes, redeemed on June 4, 2021 (effective interest rate of 3.58% after reduction of unamortized debt discount of $4,208 in fiscal 2021)	—		1,245,792
2.250% senior unsecured notes, maturing September 15, 2026 (effective interest rate of 2.32% after reduction of unamortized debt discount of $3,419 and $4,165 in fiscal 2022 and 2021, respectively)	996,581		995,835
3.750% senior unsecured notes, redeemed on June 4, 2021 (effective interest rate of 3.76% after reduction of unamortized debt discount of $456 in fiscal 2021)	—		749,544
1.150% senior unsecured notes, maturing May 15, 2028 (effective interest rate of 1.18% after reduction of unamortized debt discount of $811 and $939 in fiscal 2022 and 2021, respectively)	499,189		499,061
3.875% senior unsecured notes, maturing April 15, 2030; see tender offer details below (effective interest rate of 3.89% after reduction of unamortized debt discount of $506 and $568 in fiscal 2022 and 2021, respectively)	495,344		495,282
1.600% senior unsecured notes, maturing May 15, 2031 (effective interest rate of 1.61% after reduction of unamortized debt discount of $551 and $610 in fiscal 2022 and 2021, respectively)	499,449		499,390
4.500% senior unsecured notes, maturing April 15, 2050; see tender offer details below (effective interest rate of 4.52% after reduction of unamortized debt discount of $2,132 and $2,208 in fiscal 2022 and 2021, respectively)	383,367		383,291
Total debt	3,373,874		6,118,070
Current maturities of long-term debt, net of debt issuance costs	—		(749,684)
Debt issuance costs	(19,033)		(35,465)
Long-term debt	$	3,354,841	$	5,332,921

The aggregate maturities of long-term debt, inclusive of current installments at January 29, 2022 are as follows:


In thousands	Long-Term Debt
Fiscal Year:
2023	$	—
2024	500,000
2025	—
2026	—
2027	1,000,000
Later years	1,881,349
Unamortized debt discount	(7,475)
Debt issuance costs	(19,033)

Aggregate maturities of long-term debt	$	3,354,841

Senior Unsecured Notes

On June 4, 2021, the Company completed make-whole calls for its $1.25 billion aggregate principal amount of 3.500% Notes maturing in 2025, and its $750 million aggregate principal amount of 3.750% Notes maturing in 2027, which 3.500% Notes and 3.750% Notes were originally issued and sold on April 1, 2020. The Notes redeemed via make-whole calls were issued in the first quarter of fiscal 2021 in response to the COVID-19 pandemic. As a result of these redemptions prior to their scheduled maturities, the Company recorded a pre-tax debt extinguishment charge of $242 million in the second quarter of fiscal 2022.

On April 15, 2021, the Company redeemed all of the outstanding $750 million in aggregate principal amount of its 2.750% Notes due June 15, 2021 at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest thereon to the redemption date.

On April 1, 2020, in response to the COVID-19 pandemic, the Company issued and sold $1.25 billion aggregate principal amount of 3.875% Notes due 2030 and $750 million aggregate principal amount of 4.500% Notes due 2050, portions of which were subsequently repurchased pursuant to cash tender offers completed by the Company in December 2020, reducing the aggregate principal amount outstanding to $495.5 million and $385.0 million, respectively. Interest on these notes is payable semi-annually. In November 2020, TJX completed the issuance of (a) $500 million aggregate principal amount of 1.150% Notes due 2028 and (b) $500 million aggregate principal amount of 1.600% Notes due 2031. Interest on these notes is payable semi-annually.

As of January 29, 2022, TJX had outstanding $1 billion aggregate principal amount of 2.250% ten-year Notes due September 2026 and $500 million aggregate principal amount of 2.500% ten-year Notes due May 2023. TJX entered into a rate-lock agreement to hedge $700 million of the 2.250% notes and $250 million of the 2.500% notes prior to their issuance. The cost of these agreements is being amortized to interest expense over the term of the notes resulting in an effective fixed rate of 2.36% for the 2.25% notes and 2.57% for the 2.50% notes.

Credit Facilities

On June 25, 2021, the Company entered into a revolving credit agreement providing for a $1 billion senior unsecured revolving credit facility maturing on June 25, 2026 (the “2026 Revolving Credit Facility”). The 2026 Revolving Credit Facility replaced the Company's $500 million revolving credit facility that was scheduled to mature in March 2022 (the “2022 Revolving Credit Facility”), and the $500 million 364 revolving credit facility that was scheduled to mature in August 2021 (the “364-Day Revolving Credit Facility”). Each of the 2022 Revolving Credit Facility and the 364-Day Revolving Credit Facility were terminated on June 25, 2021. With the 2026 Revolving Credit Facility and the Company’s existing $500 million revolving credit facility that matures in May 2024 (the “2024 Revolving Credit Facility”), the Company maintained borrowing capacity of $1.5 billion. The terms of these revolving credit facilities require quarterly payments on the committed amount and payment of interest on borrowings at rates based on LIBOR or a base rate plus a variable margin, in each case based on the Company’s long-term debt ratings. The 2024 Revolving Credit Facility requires usage fees based on total credit extensions under the facility. As of January 29, 2022 and January 30, 2021, there were no amounts outstanding under these facilities. Each of these facilities require TJX to maintain a ratio of funded debt to earnings before interest, taxes, depreciation and amortization and rentals (EBITDAR) of not more than 3.50 to 1.00 on a rolling four-quarter basis. TJX was in compliance with all covenants related to its credit facilities at the end of all periods presented.

As of January 29, 2022 and January 30, 2021, TJX Canada had two uncommitted credit lines, a C$10 million facility for operating expenses and a C$10 million letter of credit facility. As of January 29, 2022 and January 30, 2021, and during the years then ended, there were no amounts outstanding on the Canadian credit line for operating expenses. As of January 29, 2022 and January 30, 2021, and during the years then ended, the Company’s European business at TJX International had an uncommitted credit line of £5 million. As of January 29, 2022 and January 30, 2021, there were no amounts outstanding on the European credit line.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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Income Taxes

12 Months Ended

Jan. 29, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Income TaxesFor financial reporting purposes, components of income before income taxes are as follows:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021		February 1, 2020

United States	$	3,934,151	$	642,482	$	3,742,227
Foreign	463,457		(553,219)		663,956
Income before income taxes	$	4,397,608	$	89,263	$	4,406,183

The provision (benefit) for income taxes includes the following:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021		February 1, 2020

Current:
Federal	$	766,200	$	189,854	$	708,508
State	270,480		36,246		250,830
Foreign	122,325		4,985		181,061
Deferred:
Federal	(32,562)		(97,705)		9,409
State	(25,723)		(25,406)		(8,203)
Foreign	14,073		(109,181)		(7,615)
Provision (benefit) provision for income taxes	$	1,114,793	$	(1,207)	$	1,133,990

TJX had net deferred tax assets (liabilities) as follows:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021
Deferred tax assets:
Net operating loss carryforward	$	159,154	$	171,568

Pension, stock compensation, postretirement and employee benefits	368,060		272,872

Operating lease liabilities	2,379,024		2,409,392
Accruals and reserves	236,642		239,696
Other	13,253		14,750
Total gross deferred tax assets	$	3,156,133	$	3,108,278
Valuation allowance	(85,497)		(76,682)
Total deferred tax asset	$	3,070,636	$	3,031,596
Deferred tax liabilities:
Property, plant and equipment	$	553,138	$	530,675
Capitalized inventory	48,413		47,769
Operating lease right of use assets	2,288,985		2,321,733
Tradename/intangibles	19,077		17,391
Undistributed foreign earnings	8,718		4,789
Other	11,509		19,212
Total deferred tax liabilities	$	2,929,840	$	2,941,569
Net deferred tax asset	$	140,796	$	90,027
Non-current asset	$	184,971	$	127,191
Non-current liability	(44,175)		(37,164)
Total	$	140,796	$	90,027

TJX has provided for all applicable state and foreign withholding taxes on all undistributed earnings of its foreign subsidiaries in Canada, Puerto Rico, Italy, India, Hong Kong and Vietnam through January 29, 2022. The Company has not provided for federal, state, or foreign withholding taxes on the approximately $1 billion of undistributed earnings related to all other foreign subsidiaries as such earnings are considered to be indefinitely reinvested in the business. The net amount of unrecognized state and foreign withholding tax liabilities related to the undistributed earnings is not material.

As of January 29, 2022 and January 30, 2021, for state income tax purposes, TJX had net operating loss carryforwards of $291 million and $224 million respectively, which expire, if unused, in the years 2023 through 2042. TJX has analyzed the realization of the state net operating loss carryforwards on an individual state basis. For those states where the Company has determined that it is more likely than not that the state net operating loss carryforwards will not be realized, a valuation allowance of $14 million has been provided for the deferred tax asset as of January 29, 2022 and $14 million as of January 30, 2021.

The Company had available for foreign income tax purposes (related to Australia, Austria, Germany, the Netherlands, Poland and the U.K.) net operating loss carryforwards of $534 million as of January 29, 2022, and $626 million as of January 30, 2021. Of the net operating loss carryforwards as of January 29, 2022, $5 million will expire, if unused, in fiscal year 2026. The remaining loss carryforwards do not expire. For the deferred tax assets associated with the net operating loss carryforwards for which management has determined it is more likely than not that the deferred tax assets will not be realized, TJX had valuation allowances recorded of approximately $71 million as of January 29, 2022, and approximately $62 million as of January 30, 2021.

The difference between the U.S. federal statutory income tax rate and TJX’s worldwide effective income tax rate is reconciled below:


	Fiscal Year Ended
	January 29, 2022		January 30, 2021		February 1, 2020

U.S. federal statutory income tax rate	21.0	%	21.0	%	21.0	%
Effective state income tax rate	4.6		28.1		4.6
Impact of foreign operations	0.9		21.4		0.8
Excess share-based compensation	(1.2)		(59.4)		(1.3)
Tax credits	(0.3)		(8.9)		—
Nondeductible/nontaxable items	0.2		(3.3)		—

All other	0.2		(0.3)		0.6
Worldwide effective income tax rate	25.4	%	(1.4)	%	25.7	%

TJX’s effective income tax rate increased for fiscal 2022 as compared to fiscal 2021. The increase in the fiscal 2022 effective income tax rate is primarily due to the significant increase in profit in fiscal 2022 as compared to the mix of income and losses by jurisdictions in fiscal 2021.

TJX had net unrecognized tax benefits of $288 million as of January 29, 2022, $272 million as of January 30, 2021 and $255 million as of February 1, 2020.

A reconciliation of the beginning and ending gross amount of unrecognized tax benefits is as follows:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021		February 1, 2020
Balance, beginning of year	$	269,371	$	259,359	$	244,195
Additions for uncertain tax positions taken in current year	9,272		11,751		21,559
Additions for uncertain tax positions taken in prior years	3,032		834		722

Reductions resulting from lapse of statute of limitations	(1,989)		(2,352)		(4,022)
Settlements with tax authorities	—		(221)		(3,095)
Balance, end of year	$	279,686	$	269,371	$	259,359

Included in the gross amount of unrecognized tax benefits are items that will impact future effective tax rates upon recognition. These items amounted to $260 million as of January 29, 2022, $250 million as of January 30, 2021 and $240 million as of February 1, 2020.

TJX is subject to U.S. federal income tax as well as income tax in multiple state, local and foreign jurisdictions. In the U.S. and India, fiscal years through 2010 are no longer subject to examination. In all other jurisdictions, fiscal years through 2011 are no longer subject to examination.

TJX’s accounting policy is to classify interest and penalties related to income tax matters as part of income tax expense. The amount of interest and penalties expensed was $7 million for the year ended January 29, 2022, $8 million for the year ended January 30, 2021 and $5 million for the year ended February 1, 2020. The accrued amounts for interest and penalties are $43 million as of January 29, 2022, $36 million as of January 30, 2021 and $28 million as of February 1, 2020.

Based on the final resolution of tax examinations, judicial or administrative proceedings, changes in facts or law, expirations of statutes of limitations in specific jurisdictions or other resolutions of, or changes in, tax positions, it is reasonably possible that unrecognized tax benefits for certain tax positions taken on previously filed tax returns may change materially from those represented on the consolidated financial statements as of January 29, 2022. During the next twelve months, it is reasonably possible that tax audit resolutions may reduce unrecognized tax benefits by up to $45 million, which would reduce the provision for taxes on earnings.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Accrued Expenses and Other Liabilities, Current and Long Term

Leases

12 Months Ended

Jan. 29, 2022

Leases [Abstract]

Leases

TJX is committed under long-term leases related to its continuing operations for the rental of real estate and certain service contracts containing embedded leases, all of which are operating leases. Real estate leases represent virtually all of the Company’s store locations as well as some of its distribution centers and office space. Most of TJX’s leases in the U.S. and Canada are store operating leases with ten-year terms and options to extend for one or more five-year periods. Leases in Europe generally have an initial term of ten to fifteen years and leases in Australia generally have an initial lease term of primarily seven to ten years, some of which have options to extend. Many of the Company's leases have options to terminate prior to the lease expiration date. The exercise of both lease renewal and termination options is at the Company’s sole discretion and is not reasonably certain at lease commencement. The Company has deemed that the expense of store renovations makes the renewal of the next lease option reasonably certain to be exercised after these renovations occur.

While the overwhelming majority of leases have fixed payment schedules, some leases have variable lease payments based on market indices adjusted periodically for inflation, or include rental payments based on a percentage of retail sales over contractual levels. In addition, for real estate leases, TJX is generally required to pay insurance, real estate taxes and other operating expenses including common area maintenance based on a proportionate share of premises, and some of these costs are based on a market index, primarily in Canada. For leases with these payments based on a market index, the initial lease payment amount is used in the calculation of the operating lease liability and corresponding operating lease assets included on the Consolidated Balance Sheets. Future payment changes to these market index rate leases are not reflected in the operating lease liability and are instead included in variable lease cost. Variable lease cost also includes variable operating expenses for third party service centers and dedicated transportation contracts that are deemed embedded leases. The operating lease ROU assets also includes any lease payments made in advance of the assets use and is reduced by lease incentives received. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

Supplemental balance sheet information related to leases is as follows:


	Fiscal Year Ended
	January 29, 2022		January 30, 2021
Weighted-average remaining lease term	6.6 years		6.8 years
Weighted-average discount rate	2.4	%	2.6	%

The following table is a summary of the Company’s components of net lease cost for the fiscal years ended:


		Fiscal Year Ended
In thousands	Classification	January 29, 2022		January 30, 2021		February 1, 2020
Operating lease cost	Cost of sales, including buying and occupancy costs	$	1,906,320	$	1,820,396	$	1,752,122
Variable and short term lease cost	Cost of sales, including buying and occupancy costs	1,386,059		1,162,971		1,226,716
Total lease cost		$	3,292,379	$	2,983,367	$	2,978,838

Supplemental cash flow information related to leases is as follows:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021		February 1, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$	2,079,564	$	1,663,005	$	1,736,403
Lease liabilities arising from obtaining right of use assets	$	1,658,240	$	1,380,402	$	1,786,212

During fiscal 2022, the Company repaid the rent deferrals that had been negotiated due to the COVID-19 pandemic in fiscal 2021 for a significant number of its stores.

The following table summarizes the maturity of lease liabilities under operating leases as of January 29, 2022:


In thousands	January 29, 2022
Fiscal Year:
2022	$	1,911,459
2023	1,765,056
2024	1,551,319
2025	1,329,031
2026	1,076,816
Later years	2,250,758
Total lease payments(a)	9,884,439
Less: imputed interest(b)	732,288
Total lease liabilities(c)	$	9,152,151

(a)Operating lease payments exclude legally binding minimum lease payments for leases signed but not yet commenced and include options to extend lease terms that are now deemed reasonably certain of being exercised according to the Company’s Lease Accounting Policy.

(b)Calculated using the incremental borrowing rate for each lease.

(c)Total lease liabilities are broken out on the Consolidated Balance Sheets between Current portion of operating lease liabilities and Long-term operating lease liabilities.

Accrued Expenses and Other Liabilities, Current and Long Term

12 Months Ended

Jan. 29, 2022

Payables and Accruals [Abstract]

The major components of accrued expenses and other current liabilities are as follows:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021
Employee compensation and benefits, current	$	1,116,529	$	946,229
Merchandise credits and gift certificates	685,202		576,187
Occupancy costs, including rent, utilities and real estate taxes	399,015		314,850
Dividends payable	311,808		315,604
Sales tax collections and V.A.T. taxes	267,867		115,409
Accrued capital additions	185,695		89,110
All other current liabilities	1,278,881		1,114,070
Total accrued expenses and other current liabilities	$	4,244,997	$	3,471,459

All other current liabilities include accruals for expense payables, insurance, customer rewards liability, reserve for sales returns, reserve for taxes, advertising, interest, fair value of derivatives and other items, each of which is individually less than 5% of current liabilities.

The major components of other long-term liabilities are as follows:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021
Employee compensation and benefits, long-term	$	647,214	$	679,661
Tax reserve, long-term	277,076		264,104
Asset retirement obligation	66,292		58,385




All other long-term liabilities	25,138		61,752
Total other long-term liabilities	$	1,015,720	$	1,063,902

Contingent Obligations, Contingencies and Commitments	12 Months Ended
Contingent Obligations, Contingencies and Commitments	Jan. 29, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingent Obligations, Contingencies and Commitments	Contingent Obligations, Contingencies, and Commitments Contingent Contractual Obligations TJX is a party to various agreements under which it may be obligated to indemnify the other party with respect to certain losses related to matters including title to assets sold, specified environmental matters or certain income taxes. These obligations are sometimes limited in time or amount. There are no amounts reflected in the Company’s Consolidated Balance Sheets with respect to these contingent obligations. Legal Contingencies TJX is subject to certain legal proceedings, lawsuits, disputes and claims that arise from time to time in the ordinary course of its business. TJX has accrued immaterial amounts in the accompanying Consolidated Financial Statements for certain of its legal proceedings. Letters of Credit TJX had outstanding letters of credit totaling $53 million as of January 29, 2022 and $28 million as of January 30, 2021. Letters of credit are issued by TJX primarily for the purchase of inventory.

Supplemental Cash Flow Information

12 Months Ended

Jan. 29, 2022

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

TJX’s cash payments for interest and income taxes and non-cash investing and financing activities are as follows:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021		February 1, 2020

Cash paid for:
Interest on debt(a)	$	138,733	$	153,045	$	56,322
Income taxes(b)	1,118,879		146,008		1,280,680
Non-cash investing and financing activity:
Dividends payable	$	(3,796)	$	33,714	$	40,226
Property additions	96,585		(36,251)		6,189

(a)Decreased interest for fiscal 2022 was due to the refinancing of certain notes in fiscal 2021 as well as the pay down of outstanding debt during fiscal 2022.

(b)Increased income taxes for fiscal 2022 was primarily due to increase in profits in fiscal 2022 as compared to the mix of income and losses by jurisdictions in fiscal 2021.

Basis of Presentation and Summary of Accounting Policies (Policies)

12 Months Ended

Jan. 29, 2022

Accounting Policies [Abstract]

Basis of Presentation

Fiscal Year

Use of Estimates

Revenue Recognition

Net Sales

Deferred Gift Card Revenue

The following table presents deferred gift card revenue activity:


In thousands	January 29, 2022		January 30, 2021
Balance, beginning of year	$	576,187	$	500,844
Deferred revenue	1,832,107		1,159,242
Effect of exchange rates changes on deferred revenue	(1,680)		3,758
Revenue recognized	(1,721,412)		(1,087,657)
Balance, end of year	$	685,202	$	576,187

Sales Return Reserve

Consolidated Statements of Income Classifications

Cash and Cash Equivalents

Merchandise Inventories

Merchandise InventoriesInventories are stated at the lower of cost or market. TJX uses the retail method for valuing inventories at all of its businesses, except T.K. Maxx in Australia which is immaterial. The businesses that utilize the retail method have some inventory that is initially valued at cost before the retail method is applied as that inventory has not been fully processed for sale (i.. inventory in transit and unprocessed inventory in the Company’s distribution centers). Under the retail method, TJX utilizes a permanent markdown strategy and lowers the cost value of the inventory that is subject to markdown at the time the retail prices are lowered in the stores. TJX records inventory at the time title transfers, which is typically at the time when inventory is shipped.

Common Stock and Equity

Share-Based Compensation

Share-Based CompensationTJX accounts for share-based compensation by estimating the fair value of each award on the date of grant. TJX uses the Black-Scholes option pricing model for options awarded and the market price on the grant date for stock awards. Performance-based awards are evaluated quarterly for probability of vesting and performance achievement levels.

Interest

TJX’s interest expense is presented net of capitalized interest and interest income. The following is a summary of interest expense, net:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021		February 1, 2020

Interest expense	$	123,196	$	199,038	$	61,400
Capitalized interest	(3,684)		(5,384)		(2,314)
Interest (income)	(4,436)		(12,920)		(49,060)
Interest expense, net	$	115,076	$	180,734	$	10,026

TJX capitalizes interest during the active construction period of major capital projects and adds the interest to the related assets.

Property and Equipment

Lease Accounting

Goodwill and Tradenames

The following is a roll forward of goodwill by segment:


In thousands	Marmaxx		TJX Canada		TJX International		Total
Balance, February 1, 2020	$	70,027	$	1,675	$	23,844	$	95,546

Effect of exchange rate changes on goodwill	—		61		3,391		3,452
Balance, January 30, 2021	$	70,027	$	1,736	$	27,235	$	98,998
Effect of exchange rate changes on goodwill	—		—		(2,336)		(2,336)
Balance, January 29, 2022	$	70,027	$	1,736	$	24,899	$	96,662

Goodwill is considered to have an indefinite life and accordingly is not amortized.

The following is a roll forward of tradenames:


	Fiscal Year Ended
	January 29, 2022				January 30, 2021
In thousands	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value		Gross Carrying Amount		Accumulated Amortization		Impact of FX		Net Carrying Value
Definite-lived intangible assets:
Sierra Trading Post	$	38,500	$	(23,314)	$	15,186	$	38,500	$	(20,747)	$	—	$	17,753
Trade Secret	$	12,541	$	(12,541)	$	—	$	12,541	$	(10,247)	$	(2,294)	$	—
Indefinite-lived intangible asset:
Marshalls	$	107,695	$	—	$	107,695	$	107,695	$	—	$	—	$	107,695

Goodwill, tradenames and trademarks, and the related accumulated amortization or impairment if any, are included in the respective operating segment to which they relate.

Impairment of Long-Lived Assets, Goodwill and Tradenames

Advertising Costs

Advertising CostsTJX expenses advertising costs as incurred.

Foreign Currency Translation

Loss Contingencies

Equity Investment

Future Adoption of New Accounting Standards

Basis of Presentation and Summary of Accounting Policies (Tables)

12 Months Ended

Jan. 29, 2022

Accounting Policies [Abstract]

Contract with Customer Liability

The following table presents deferred gift card revenue activity:


In thousands	January 29, 2022		January 30, 2021
Balance, beginning of year	$	576,187	$	500,844
Deferred revenue	1,832,107		1,159,242
Effect of exchange rates changes on deferred revenue	(1,680)		3,758
Revenue recognized	(1,721,412)		(1,087,657)
Balance, end of year	$	685,202	$	576,187

Summary of Interest Expense, Net

The following is a summary of interest expense, net:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021		February 1, 2020

Interest expense	$	123,196	$	199,038	$	61,400
Capitalized interest	(3,684)		(5,384)		(2,314)
Interest (income)	(4,436)		(12,920)		(49,060)
Interest expense, net	$	115,076	$	180,734	$	10,026

Roll Forward of Goodwill by Segment

The following is a roll forward of goodwill by segment:


In thousands	Marmaxx		TJX Canada		TJX International		Total
Balance, February 1, 2020	$	70,027	$	1,675	$	23,844	$	95,546

Effect of exchange rate changes on goodwill	—		61		3,391		3,452
Balance, January 30, 2021	$	70,027	$	1,736	$	27,235	$	98,998
Effect of exchange rate changes on goodwill	—		—		(2,336)		(2,336)
Balance, January 29, 2022	$	70,027	$	1,736	$	24,899	$	96,662

Schedule of Finite-Lived Intangible Assets

The following is a roll forward of tradenames:


	Fiscal Year Ended
	January 29, 2022				January 30, 2021
In thousands	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value		Gross Carrying Amount		Accumulated Amortization		Impact of FX		Net Carrying Value
Definite-lived intangible assets:
Sierra Trading Post	$	38,500	$	(23,314)	$	15,186	$	38,500	$	(20,747)	$	—	$	17,753
Trade Secret	$	12,541	$	(12,541)	$	—	$	12,541	$	(10,247)	$	(2,294)	$	—
Indefinite-lived intangible asset:
Marshalls	$	107,695	$	—	$	107,695	$	107,695	$	—	$	—	$	107,695

Property at Cost (Tables)

12 Months Ended

Jan. 29, 2022

Property, Plant and Equipment [Abstract]

Components of Property at Cost

The following table presents the components of property at cost:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021
Land and buildings	$	1,911,569	$	1,668,381
Leasehold costs and improvements	3,652,280		3,568,829
Furniture, fixtures and equipment	6,871,777		6,525,615
Total property at cost	$	12,435,626	$	11,762,825
Less accumulated depreciation and amortization	7,164,799		6,726,729
Net property at cost	$	5,270,827	$	5,036,096

Summary of Long-Lived Assets by Geographic Location

Presented below is information related to carrying values of TJX’s long-lived tangible assets by geographic location:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021
United States	$	4,040,955	$	3,844,711
Canada	247,511		241,086
Europe	927,020		898,518
Australia	55,341		51,781
Total long-lived tangible assets	$	5,270,827	$	5,036,096

Accumulated Other Comprehensive (Loss) Income (Tables)

12 Months Ended

Jan. 29, 2022

Changes in Accumulated Other Comprehensive (Loss) Income

The following table details the changes in Accumulated other comprehensive (loss) income for fiscal 2022, fiscal 2021 and fiscal 2020:


In thousands	Foreign Currency Translation		Deferred Benefit Costs		Cash Flow Hedge on Debt		Accumulated Other Comprehensive (Loss) Income
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 $1,189)	(3,943)		—		—		(3,943)

Recognition of net gains/losses on benefit obligations (net of taxes of $20,489)	—		(56,275)		—		(56,275)
Reclassifications from other comprehensive loss to net income:

Amortization of loss on cash flow hedge (net of taxes of $303)	—		—		831		831
Amortization of prior service cost and deferred gains/losses (net of taxes of $6,019)	—		16,537		—		16,537
Balance, February 1, 2020	$	(457,120)	$	(215,483)	$	(568)	$	(673,171)
Additions to other comprehensive loss:
Foreign currency translation adjustments (net of taxes of $2,442)	15,588		—		—		15,588

Recognition of net gains/losses on benefit obligations (net of taxes of $9,974)	—		30,635		—		30,635

Reclassifications from other comprehensive loss to net income:
Amortization of loss on cash flow hedge (net of taxes of $303)	—		—		831		831
Amortization of prior service cost and deferred gains/losses (net of taxes of $7,298)	—		20,046		—		20,046
Balance, January 30, 2021	$	(441,532)	$	(164,802)	$	263	$	(606,071)
Additions to other comprehensive loss:
Foreign currency translation adjustments (net of taxes of $207)	(46,715)		—		—		(46,715)
Recognition of net gains/losses on benefit obligations (net of taxes of $17,659)	—		(48,504)		—		(48,504)
Reclassifications from other comprehensive loss to net income:
Amortization of loss on cash flow hedge (net of taxes of $603)	—		—		(263)		(263)
Amortization of prior service cost and deferred gains/losses (net of taxes of $4,588)	—		14,403		—		14,403
Balance, January 29, 2022	$	(488,247)	$	(198,903)	$	—	$	(687,150)

Capital Stock and Earnings Per Share (Tables)

12 Months Ended

Jan. 29, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Earnings Per Share

The following table presents the calculation of basic and diluted earnings per share:


	Fiscal Year Ended
In thousands except per share amounts	January 29, 2022		January 30, 2021		February 1, 2020

Basic earnings per share:
Net income	$	3,282,815	$	90,470	$	3,272,193
Weighted average common stock outstanding for basic earnings per share calculation	1,199,990		1,199,927		1,208,163
Basic earnings per share	$	2.74	$	0.08	$	2.71
Diluted earnings per share:
Net income	$	3,282,815	$	90,470	$	3,272,193
Weighted average common stock outstanding for basic earnings per share calculation	1,199,990		1,199,927		1,208,163
Assumed exercise/vesting of:
Stock options and awards	15,601		14,776		18,356
Weighted average common stock outstanding for diluted earnings per share calculation	1,215,591		1,214,703		1,226,519
Diluted earnings per share	$	2.70	$	0.07	$	2.67
Cash dividends declared per share(a)	$	1.04	$	0.26	$	0.92

(a)There were no dividends declared during the first three quarters of fiscal 2021. The Company declared a dividend of $0.26 per share in the fourth quarter of fiscal 2021.

Financial Instruments (Tables)

12 Months Ended

Jan. 29, 2022

Summary of 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 29, 2022:


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 29, 2022
Fair value hedges:
Intercompany balances, primarily debt and related interest:
	zł	25,000	£	4,541	0.1816	Prepaid Exp	$	72	$	—	$	72
	€	60,000	£	50,568	0.8428	Prepaid Exp	111		—		111
	A$	170,000	U.S.$	122,061	0.7180	Prepaid Exp	2,047		—		2,047
	U.S.$	74,646	£	55,000	0.7368	(Accrued Exp)	—		(918)		(918)

	€	200,000	U.S.$	230,319	1.1516	Prepaid Exp	4,535				4,535
Economic hedges for which hedge accounting was not elected:
Diesel contracts	Diesel fuel contracts	Fixed on 3.6M - 4.0M gal per month		Float on 3.6M - 4.0M gal per month	N/A	Prepaid Exp	23,649		—		23,649
Intercompany billings in TJX International, primarily merchandise related:
	€	91,000	£	75,894	0.8340	(Accrued Exp)	—		(145)		(145)
Merchandise purchase commitments:
	C$	987,756	U.S.$	783,000	0.7927	Prepaid Exp / (Accrued Exp)	6,641		(80)		6,561
	C$	38,138	€	26,500	0.6948	(Accrued Exp)	—		(248)		(248)
	£	325,482	U.S.$	442,100	1.3583	Prepaid Exp / (Accrued Exp)	6,023		(632)		5,391
	zł	453,000	£	82,112	0.1813	Prepaid Exp / (Accrued Exp)	744		(449)		295
	A$	65,551	U.S.$	47,500	0.7246	Prepaid Exp	1,270		—		1,270
	U.S.$	66,989	€	59,000	0.8807	(Accrued Exp)	—		(820)		(820)
Total fair value of financial instruments							$	45,092	$	(3,292)	$	41,800

The following is a summary of TJX’s derivative financial instruments, related fair value and balance sheet classification at January 30, 2021:


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 30, 2021
Fair value hedges:
Intercompany balances, primarily debt and related interest:
	zł	45,000	£	8,846	0.1966	Prepaid Exp	$	11	$	—	$	11
	A$	80,000	U.S.$	62,032	0.7754	Prepaid Exp	738		—		738
	U.S.$	75,102	£	55,000	0.7323	Prepaid Exp	357		—		357
	£	200,000	U.S.$	274,853	1.3743	Prepaid Exp	32		—		32
	€	200,000	U.S.$	244,699	1.2235	Prepaid Exp / (Accrued Exp)	427		(182)		245
Economic hedges for which hedge accounting was not elected:
	Diesel fuel contracts	Fixed on 1.5M - 3.8M gal per month		Float on 1.5M - 3.8M gal per month	N/A	Prepaid Exp	4,880		—		4,880


Merchandise purchase commitments:
	C$	384,679	U.S.$	296,000	0.7695	Prepaid Exp / (Accrued Exp)	430		(5,627)		(5,197)
	C$	5,391	€	3,500	0.6492	Prepaid Exp	24		—		24
	£	203,264	U.S.$	263,950	1.2986	(Accrued Exp)	—		(15,086)		(15,086)
	zł	30,000	£	5,865	0.1955	(Accrued Exp)	—		(29)		(29)
	A$	46,985	U.S.$	35,250	0.7502	Prepaid Exp / (Accrued Exp)	144		(837)		(693)
	U.S.$	99,810	€	83,700	0.8386	Prepaid Exp / (Accrued Exp)	1,986		(160)		1,826
Total fair value of financial instruments							$	9,029	$	(21,921)	$	(12,892)

Impact of Derivative Financial Instruments on Statements of Income

The impact of derivative financial instruments on the Consolidated Statement of Income during fiscal 2022, fiscal 2021 and fiscal 2020 is presented below:


	Location of Gain (Loss) Recognized in Income by Derivative	Amount of Gain (Loss) Recognized in Income by Derivative
In thousands		January 29, 2022		January 30, 2021		February 1, 2020

Fair value hedges:
Intercompany balances, primarily debt and related interest	Selling, general and administrative expenses	$	36,033	$	(59,829)	$	4,788
Economic hedges for which hedge accounting was not elected:
Intercompany receivable	Selling, general and administrative expenses	—		—		3,257
Diesel fuel contracts	Cost of sales, including buying and occupancy costs	43,306		(5,638)		(9,780)
Intercompany billings in TJX International, primarily merchandise related	Cost of sales, including buying and occupancy costs	5,021		(4,249)		2,652
International lease liabilities	Cost of sales, including buying and occupancy costs	—		—		(1,113)
Merchandise purchase commitments	Cost of sales, including buying and occupancy costs	23,952		(4,468)		10,484
Gain (loss) recognized in income		$	108,312	$	(74,184)	$	10,288

Fair Value Measurements (Tables)

12 Months Ended

Jan. 29, 2022

Fair Value Disclosures [Abstract]

Fair Value of Financial Assets and Liabilities on a Recurring Basis

The following table sets forth TJX’s financial assets and liabilities that are accounted for at fair value on a recurring basis:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021
Level 1
Assets:
Executive Savings Plan investments	$	387,666	$	363,729
Level 2
Assets:
Foreign currency exchange contracts	$	21,443	$	4,149
Diesel fuel contracts	23,649		4,880
Liabilities:
Foreign currency exchange contracts	$	3,292	$	21,921

Segment Information (Tables)

12 Months Ended

Jan. 29, 2022

Segment Reporting [Abstract]

Percentages of Consolidated Revenues by Major Product Category

The percentages of the Company’s consolidated revenues by major product category for the last three fiscal years are as follows:


	Fiscal 2022		Fiscal 2021		Fiscal 2020
Apparel:
Clothing including footwear	47	%	46	%	51	%
Jewelry and accessories	15		15		16
Home fashions	38		39		33
Total	100	%	100	%	100	%

Financial Information on Business Segments

Presented below is financial information with respect to TJX’s business segments:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021		February 1, 2020
Net sales:
In the United States:
Marmaxx	$	29,483,073	$	19,362,573	$	25,664,805
HomeGoods	8,995,140		6,096,237		6,355,770
TJX Canada	4,342,538		2,836,088		4,031,406
TJX International	5,729,231		3,842,064		5,664,996
Total net sales	$	48,549,982	$	32,136,962	$	41,716,977
Segment profit (loss):
In the United States:
Marmaxx	$	3,812,847	$	891,180	$	3,469,794
HomeGoods	907,391		509,562		680,520
TJX Canada	484,585		124,143		515,559
TJX International	161,199		(503,618)		307,081
Total segment profit	$	5,366,022	$	1,021,267	$	4,972,954
General corporate expense	611,090		439,037		556,745
Loss on early extinguishment of debt	242,248		312,233		—
Interest expense, net	115,076		180,734		10,026

Income before income taxes	$	4,397,608	$	89,263	$	4,406,183

Business segment information (continued):


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021		February 1, 2020
Identifiable assets:
In the United States:
Marmaxx	$	11,230,232	$	10,220,441	$	11,162,890
HomeGoods	3,460,830		2,851,131		2,785,006
TJX Canada	2,196,895		2,035,341		1,889,679
TJX International	4,280,596		4,389,261		4,284,385
Corporate(a)	7,292,905		11,317,381		4,023,043
Total identifiable assets	$	28,461,458	$	30,813,555	$	24,145,003
Capital expenditures:
In the United States:
Marmaxx	$	514,141	$	216,186	$	614,624
HomeGoods	243,551		162,200		251,864
TJX Canada	68,585		43,879		101,862
TJX International	218,517		145,756		254,766
Total capital expenditures(b)	$	1,044,794	$	568,021	$	1,223,116
Depreciation and amortization:
In the United States:
Marmaxx	$	464,660	$	478,963	$	473,908
HomeGoods	149,130		135,205		124,360
TJX Canada	72,507		70,777		66,693
TJX International	174,216		175,824		197,262
Corporate(c)	7,489		9,989		5,080
Total depreciation and amortization	$	868,002	$	870,758	$	867,303

(b)Fiscal 2022 increase in capital spending due to the COVID-19 pandemic impacts in fiscal 2021.

(c)Includes debt discount accretion and debt expense amortization.

Stock Incentive Plan (Tables)

12 Months Ended

Jan. 29, 2022

Share-based Payment Arrangement [Abstract]

Schedule of Estimated Fair Value of Options as of Grant Date by Using Black-Scholes Option Pricing Model

The fair value of options is estimated as of the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions:


	Fiscal Year Ended
	January 29, 2022			January 30, 2021			February 1, 2020
Risk-free interest rate	0.84		%	0.28		%	1.65		%
Dividend yield(a)	1.5		%	1.4		%	1.6		%
Expected volatility factor	23.8		%	26.5		%	23.4		%
Expected option life	5.0 years			5.0 years			4.9 years
Weighted average fair value of options issued	$	12.85		$	11.29		$	10.84

Schedule of Stock Options and Related Weighted Average Exercise Prices

A summary of the status of TJX’s stock options and related weighted average exercise prices (“WAEP”) is presented below:


	Fiscal Year Ended
Shares in thousands	January 29, 2022			January 30, 2021			February 1, 2020
	Options	WAEP		Options	WAEP		Options	WAEP

Outstanding at beginning of year	42,604	$	41.79	45,065	$	36.81	49,053	$	32.02
Granted	5,324	70.48		6,268	57.32		6,150	56.74
Exercised	(7,160)	32.04		(8,239)	25.68		(9,518)	24.40
Forfeitures	(535)	57.55		(490)	52.96		(620)	46.37
Outstanding at end of year	40,233	$	47.11	42,604	$	41.79	45,065	$	36.81
Options exercisable at end of year	29,159	$	40.93	30,659	$	36.05	32,276	$	31.04

Schedule of Stock Options Outstanding Expected to Vest and Stock Options Outstanding Exercisable

The following table summarizes information about stock options outstanding that were expected to vest and stock options outstanding that were exercisable as of January 29, 2022:


	Shares (in thousands)	Aggregate Intrinsic Value (in thousands)		Weighted Average Remaining Contract Life	WAEP
Options outstanding expected to vest(a)	10,281	$	83,586	8.9 years	$	63.25
Options exercisable	29,159	$	887,932	5.0 years	$	40.93
Total outstanding options vested and expected to vest	39,440	$	971,518	6.0 years	$	46.75

(a)Reflects 11 million unvested options, net of anticipated forfeitures.

Summary of Nonvested Performance-Based Stock Awards

A summary of the status of the Company’s non-vested stock awards and changes during fiscal 2022 is presented below:


In thousands except grant date fair value	Restricted Stock Units	Performance Share Units	Total Stock Awards	Weighted Average Grant Date Fair Value
Nonvested at beginning of year	1,799	1,122	2,921	$	51.36
Granted	513	307	820	65.53
Vested	(460)	(378)	(838)	52.77
Forfeited	(16)	(4)	(20)	60.24
Modification	—	(115)	(115)	54.99
Nonvested at end of year	1,836	932	2,768	58.91

Pension Plans and Other Retirement Benefits (Tables)

12 Months Ended

Jan. 29, 2022

Retirement Benefits [Abstract]

Financial Information Related to Funded Defined Benefit Pension Plan and Unfunded Supplemental Retirement Plan


	Funded Plan Fiscal Year Ended				Unfunded Plan Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021		January 29, 2022		January 30, 2021

Change in projected benefit obligation:
Projected benefit obligation at beginning of year	$	1,619,274	$	1,532,416	$	113,478	$	104,823
Service cost	49,116		50,123		2,426		2,430
Interest cost	52,097		50,210		3,099		3,283
Actuarial losses	29,350		13,758		233		8,229

Benefits paid	(29,548)		(24,527)		(4,447)		(5,287)
Expenses paid	(3,034)		(2,706)		—		—
Projected benefit obligation at end of year	$	1,717,255	$	1,619,274	$	114,789	$	113,478
Accumulated benefit obligation at end of year	$	1,560,239	$	1,481,505	$	100,108	$	97,451


	Funded Plan Fiscal Year Ended				Unfunded Plan Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021		January 29, 2022		January 30, 2021

Change in plan assets:
Fair value of plan assets at beginning of year	$	1,686,735	$	1,562,274	$	—	$	—
Actual return on plan assets	59,422		151,594		—		—
Employer contribution	100		100		4,447		5,287

Benefits paid	(29,548)		(24,527)		(4,447)		(5,287)
Expenses paid	(3,034)		(2,706)		—		—
Fair value of plan assets at end of year	$	1,713,675	$	1,686,735	$	—	$	—
Reconciliation of funded status:
Projected benefit obligation at end of year	$	1,717,255	$	1,619,274	$	114,789	$	113,478
Fair value of plan assets at end of year	1,713,675		1,686,735		—		—
Funded status – excess obligation (asset)	$	3,580	$	(67,461)	$	114,789	$	113,478
Net liability (asset) recognized on Consolidated Balance Sheets	$	3,580	$	(67,461)	$	114,789	$	113,478
Amounts not yet reflected in net periodic benefit cost and included in Accumulated other comprehensive income (loss):
Prior service cost	$	426	$	803	$	—	$	—
Accumulated actuarial losses	297,336		245,506		31,599		35,880
Amounts included in Accumulated other comprehensive income (loss)	$	297,762	$	246,309	$	31,599	$	35,880

Weighted Average Assumptions for Obligation

Presented below are weighted average assumptions for measurement purposes for determining the obligation at the year-end measurement date:


	Funded Plan Fiscal Year Ended				Unfunded Plan Fiscal Year Ended
	January 29, 2022		January 30, 2021		January 29, 2022		January 30, 2021
Discount rate	3.40	%	3.20	%	3.30	%	2.80	%
Rate of compensation increase(a)	4.00	%	4.00	%	4.00	%	4.00	%

Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income (Loss)

The following are the components of net periodic benefit cost and other amounts recognized in other comprehensive income (loss) related to the Company’s pension plans:


	Funded Plan Fiscal Year Ended									Unfunded Plan Fiscal Year Ended
In thousands	January 29, 2022			January 30, 2021			February 1, 2020			January 29, 2022			January 30, 2021			February 1, 2020

Net periodic pension cost:
Service cost	$	49,116		$	50,123		$	44,685		$	2,426		$	2,430		$	2,059
Interest cost	52,097			50,210			52,172			3,099			3,283			3,740
Expected return on plan assets	(96,002)			(88,997)			(74,141)			—			—			—
Amortization of prior service cost	377			377			377			—			—			—
Amortization of net actuarial loss	14,101			22,351			19,055			4,513			4,616			3,124

Total expense	$	19,689		$	34,064		$	42,148		$	10,038		$	10,329		$	8,923
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net loss (gain)	$	65,930		$	(48,838)		$	71,590		$	233		$	8,229		$	4,682
Amortization of net (loss)	(14,101)			(22,351)			(19,055)			(4,513)			(4,616)			(3,124)

Amortization of prior service cost	(377)			(377)			(377)			—			—			—
Total recognized in other comprehensive income (loss)	$	51,452		$	(71,566)		$	52,158		$	(4,280)		$	3,613		$	1,558
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	71,141		$	(37,502)		$	94,306		$	5,758		$	13,942		$	10,481
Weighted average assumptions for expense purposes:
Discount rate	3.20		%	3.30		%	4.30		%	2.80		%	3.10		%	4.10		%
Expected rate of return on plan assets	5.75		%	5.75		%	6.00		%	N/A			N/A			N/A
Rate of compensation increase(a)	4.00		%	4.00		%	4.00		%	4.00		%	4.00		%	6.00		%

Schedule of Benefits Expected to be Paid in Each of Next Five Fiscal Years and Thereafter

The following is a schedule of the benefits expected to be paid in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter:


In thousands	Funded Plan Expected Benefit Payments		Unfunded Plan Expected Benefit Payments
Fiscal Year:
2023	$	40,162	$	3,888
2024	46,253		5,042
2025	52,352		6,363
2026	58,390		52,601
2027	64,463		8,424
2028 through 2032	408,023		41,209

Fair Value for Pension Assets Measured at Fair Value on Recurring Basis


	Funded Plan at January 29, 2022
In thousands	Level 1		Level 2		Total
Asset category:
Short-term investments	$	8,537	$	—	$	8,537
Equity Securities	178,336		—		178,336
Fixed Income Securities:
Corporate and government bond funds	—		1,021,612		1,021,612
Futures Contracts	—		2,806		2,806
Total assets in the fair value hierarchy	$	186,873	$	1,024,418	$	1,211,291
Assets measured at net asset value(a)	—		—		502,384
Fair value of assets	$	186,873	$	1,024,418	$	1,713,675


	Funded Plan at January 30, 2021
In thousands	Level 1		Level 2		Total
Asset category:
Short-term investments	$	8,598	$	—	$	8,598
Equity Securities	174,691		—		174,691
Fixed Income Securities:
Corporate and government bond funds	—		548,667		548,667
Futures Contracts	—		4,896		4,896
Total assets in the fair value hierarchy	$	183,289	$	553,563	$	736,852
Assets measured at net asset value(a)	—		—		949,883
Fair value of assets	$	183,289	$	553,563	$	1,686,735

Summary of Target Allocation for Plan Assets Along with Actual Allocation of Plan Assets as of Valuation Date

Following is the asset allocation under the qualified pension plan as of the valuation date for the fiscal years presented:


	January 29, 2022	January 30, 2021
Return-seeking assets	45%	48%
Liability-hedging assets	55%	51%
All other – primarily cash	—%	1%

Long-Term Debt and Credit Lines (Tables)

12 Months Ended

Jan. 29, 2022

Debt Disclosure [Abstract]

Long-Term Debt, Exclusive of Current Installments

The table below presents long-term debt, exclusive of current installments, as of January 29, 2022 and January 30, 2021. All amounts are net of unamortized debt discounts.


In thousands	January 29, 2022		January 30, 2021
General corporate debt:
2.750% senior unsecured notes, redeemed on April 15, 2021 (effective interest rate of 2.76% after reduction of unamortized debt discount of $25 in fiscal 2021)	$	—	$	749,975
2.500% senior unsecured notes, maturing May 15, 2023 (effective interest rate of 2.51% after reduction of unamortized debt discount of $56 and $100 in fiscal 2022 and 2021, respectively)	499,944		499,900
3.500% senior unsecured notes, redeemed on June 4, 2021 (effective interest rate of 3.58% after reduction of unamortized debt discount of $4,208 in fiscal 2021)	—		1,245,792
2.250% senior unsecured notes, maturing September 15, 2026 (effective interest rate of 2.32% after reduction of unamortized debt discount of $3,419 and $4,165 in fiscal 2022 and 2021, respectively)	996,581		995,835
3.750% senior unsecured notes, redeemed on June 4, 2021 (effective interest rate of 3.76% after reduction of unamortized debt discount of $456 in fiscal 2021)	—		749,544
1.150% senior unsecured notes, maturing May 15, 2028 (effective interest rate of 1.18% after reduction of unamortized debt discount of $811 and $939 in fiscal 2022 and 2021, respectively)	499,189		499,061
3.875% senior unsecured notes, maturing April 15, 2030; see tender offer details below (effective interest rate of 3.89% after reduction of unamortized debt discount of $506 and $568 in fiscal 2022 and 2021, respectively)	495,344		495,282
1.600% senior unsecured notes, maturing May 15, 2031 (effective interest rate of 1.61% after reduction of unamortized debt discount of $551 and $610 in fiscal 2022 and 2021, respectively)	499,449		499,390
4.500% senior unsecured notes, maturing April 15, 2050; see tender offer details below (effective interest rate of 4.52% after reduction of unamortized debt discount of $2,132 and $2,208 in fiscal 2022 and 2021, respectively)	383,367		383,291
Total debt	3,373,874		6,118,070
Current maturities of long-term debt, net of debt issuance costs	—		(749,684)
Debt issuance costs	(19,033)		(35,465)
Long-term debt	$	3,354,841	$	5,332,921

Aggregate Maturities of Long-Term Debt, Inclusive of Current Installments

The aggregate maturities of long-term debt, inclusive of current installments at January 29, 2022 are as follows:


In thousands	Long-Term Debt
Fiscal Year:
2023	$	—
2024	500,000
2025	—
2026	—
2027	1,000,000
Later years	1,881,349
Unamortized debt discount	(7,475)
Debt issuance costs	(19,033)

Aggregate maturities of long-term debt	$	3,354,841

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Components of Income Before Income Taxes

Income Taxes (Tables)

12 Months Ended

Jan. 29, 2022

Income Tax Disclosure [Abstract]

For financial reporting purposes, components of income before income taxes are as follows:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021		February 1, 2020

United States	$	3,934,151	$	642,482	$	3,742,227
Foreign	463,457		(553,219)		663,956
Income before income taxes	$	4,397,608	$	89,263	$	4,406,183

Provision for Income Taxes

The provision (benefit) for income taxes includes the following:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021		February 1, 2020

Current:
Federal	$	766,200	$	189,854	$	708,508
State	270,480		36,246		250,830
Foreign	122,325		4,985		181,061
Deferred:
Federal	(32,562)		(97,705)		9,409
State	(25,723)		(25,406)		(8,203)
Foreign	14,073		(109,181)		(7,615)
Provision (benefit) provision for income taxes	$	1,114,793	$	(1,207)	$	1,133,990

Net Deferred Tax (Liabilities) Assets

TJX had net deferred tax assets (liabilities) as follows:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021
Deferred tax assets:
Net operating loss carryforward	$	159,154	$	171,568

Pension, stock compensation, postretirement and employee benefits	368,060		272,872

Operating lease liabilities	2,379,024		2,409,392
Accruals and reserves	236,642		239,696
Other	13,253		14,750
Total gross deferred tax assets	$	3,156,133	$	3,108,278
Valuation allowance	(85,497)		(76,682)
Total deferred tax asset	$	3,070,636	$	3,031,596
Deferred tax liabilities:
Property, plant and equipment	$	553,138	$	530,675
Capitalized inventory	48,413		47,769
Operating lease right of use assets	2,288,985		2,321,733
Tradename/intangibles	19,077		17,391
Undistributed foreign earnings	8,718		4,789
Other	11,509		19,212
Total deferred tax liabilities	$	2,929,840	$	2,941,569
Net deferred tax asset	$	140,796	$	90,027
Non-current asset	$	184,971	$	127,191
Non-current liability	(44,175)		(37,164)
Total	$	140,796	$	90,027

Reconciliation of U.S. Federal Statutory Income Tax Rate and Worldwide Effective Income Tax Rate

The difference between the U.S. federal statutory income tax rate and TJX’s worldwide effective income tax rate is reconciled below:


	Fiscal Year Ended
	January 29, 2022		January 30, 2021		February 1, 2020

U.S. federal statutory income tax rate	21.0	%	21.0	%	21.0	%
Effective state income tax rate	4.6		28.1		4.6
Impact of foreign operations	0.9		21.4		0.8
Excess share-based compensation	(1.2)		(59.4)		(1.3)
Tax credits	(0.3)		(8.9)		—
Nondeductible/nontaxable items	0.2		(3.3)		—

All other	0.2		(0.3)		0.6
Worldwide effective income tax rate	25.4	%	(1.4)	%	25.7	%

Reconciliation of Beginning and Ending Gross Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending gross amount of unrecognized tax benefits is as follows:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021		February 1, 2020
Balance, beginning of year	$	269,371	$	259,359	$	244,195
Additions for uncertain tax positions taken in current year	9,272		11,751		21,559
Additions for uncertain tax positions taken in prior years	3,032		834		722

Reductions resulting from lapse of statute of limitations	(1,989)		(2,352)		(4,022)
Settlements with tax authorities	—		(221)		(3,095)
Balance, end of year	$	279,686	$	269,371	$	259,359

Leases (Tables)

12 Months Ended

Jan. 29, 2022

Leases [Abstract]

Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows:


	Fiscal Year Ended
	January 29, 2022		January 30, 2021
Weighted-average remaining lease term	6.6 years		6.8 years
Weighted-average discount rate	2.4	%	2.6	%

The following table is a summary of the Company’s components of net lease cost for the fiscal years ended:


		Fiscal Year Ended
In thousands	Classification	January 29, 2022		January 30, 2021		February 1, 2020
Operating lease cost	Cost of sales, including buying and occupancy costs	$	1,906,320	$	1,820,396	$	1,752,122
Variable and short term lease cost	Cost of sales, including buying and occupancy costs	1,386,059		1,162,971		1,226,716
Total lease cost		$	3,292,379	$	2,983,367	$	2,978,838

Supplemental cash flow information related to leases is as follows:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021		February 1, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$	2,079,564	$	1,663,005	$	1,736,403
Lease liabilities arising from obtaining right of use assets	$	1,658,240	$	1,380,402	$	1,786,212

Operating Leases Maturity Schedule

The following table summarizes the maturity of lease liabilities under operating leases as of January 29, 2022:


In thousands	January 29, 2022
Fiscal Year:
2022	$	1,911,459
2023	1,765,056
2024	1,551,319
2025	1,329,031
2026	1,076,816
Later years	2,250,758
Total lease payments(a)	9,884,439
Less: imputed interest(b)	732,288
Total lease liabilities(c)	$	9,152,151

(b)Calculated using the incremental borrowing rate for each lease.

(c)Total lease liabilities are broken out on the Consolidated Balance Sheets between Current portion of operating lease liabilities and Long-term operating lease liabilities.

Accrued Expenses and Other Liabilities, Current and Long Term (Tables)

12 Months Ended

Jan. 29, 2022

Payables and Accruals [Abstract]

Schedule of Accrued Expenses and Other Current Liabilities

The major components of accrued expenses and other current liabilities are as follows:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021
Employee compensation and benefits, current	$	1,116,529	$	946,229
Merchandise credits and gift certificates	685,202		576,187
Occupancy costs, including rent, utilities and real estate taxes	399,015		314,850
Dividends payable	311,808		315,604
Sales tax collections and V.A.T. taxes	267,867		115,409
Accrued capital additions	185,695		89,110
All other current liabilities	1,278,881		1,114,070
Total accrued expenses and other current liabilities	$	4,244,997	$	3,471,459

Schedule of Other Long-Term Liabilities

The major components of other long-term liabilities are as follows:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021
Employee compensation and benefits, long-term	$	647,214	$	679,661
Tax reserve, long-term	277,076		264,104
Asset retirement obligation	66,292		58,385




All other long-term liabilities	25,138		61,752
Total other long-term liabilities	$	1,015,720	$	1,063,902

Supplemental Cash Flow Information (Tables)

12 Months Ended

Jan. 29, 2022

Supplemental Cash Flow Elements [Abstract]

Summary of Cash Payments for Interest and Income Taxes and Non-Cash Investing and Financing Activities

TJX’s cash payments for interest and income taxes and non-cash investing and financing activities are as follows:


	Fiscal Year Ended
In thousands	January 29, 2022		January 30, 2021		February 1, 2020

Cash paid for:
Interest on debt(a)	$	138,733	$	153,045	$	56,322
Income taxes(b)	1,118,879		146,008		1,280,680
Non-cash investing and financing activity:
Dividends payable	$	(3,796)	$	33,714	$	40,226
Property additions	96,585		(36,251)		6,189

(a)Decreased interest for fiscal 2022 was due to the refinancing of certain notes in fiscal 2021 as well as the pay down of outstanding debt during fiscal 2022.

(b)Increased income taxes for fiscal 2022 was primarily due to increase in profits in fiscal 2022 as compared to the mix of income and losses by jurisdictions in fiscal 2021.

Schedule II - Valuation and Qualifying Accounts (Details) - SEC Schedule, 12-09, Allowance, Sales Return - USD ($) $ in Millions	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance Beginning of Period	$ 168	$ 109	$ 104
Amounts Charged to Net Income	5,627	3,530	4,862
Write-Offs Against Reserve	5,653	3,471	4,857
Balance End of Period	$ 142	$ 168	$ 109

Basis of Presentation and Summary of Accounting Policies - Deferred Gift Card Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Movement in Contract with Customer, Liability [Roll Forward]
Beginning Balance	$ 576,187	$ 500,844
Deferred revenue	1,832,107	1,159,242
Effect of exchange rates changes on deferred revenue	(1,680)	3,758
Revenue recognized	(1,721,412)	(1,087,657)	$ (1,600,000)
Ending Balance	$ 685,202	$ 576,187	$ 500,844

Basis of Presentation and Summary of Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Gift card revenue recognized	$ 1,721,412	$ 1,087,657	$ 1,600,000
Revenue recognized from store card breakage	$ 21,000	$ 14,000	$ 20,000
Sales revenue net \| Product and service, other \| Product Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage (less than)	1.00%

Basis of Presentation and Summary of Accounting Policies - Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 6,226,765	$ 10,469,570
Non-US
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	1,400,000
Non-US \| Undistributed earnings planned to be reinvested indefinitely
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 600,000

Basis of Presentation and Summary of Accounting Policies - Merchandise Inventories (Details) - USD ($) $ in Billions	Jan. 29, 2022	Jan. 30, 2021
Accounting Policies [Abstract]
In-transit inventory	$ 1.7	$ 1.2

Basis of Presentation and Summary of Accounting Policies - Summary of Interest Expense, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Accounting Policies [Abstract]
Interest expense	$ 123,196	$ 199,038	$ 61,400
Capitalized interest	(3,684)	(5,384)	(2,314)
Interest (income)	(4,436)	(12,920)	(49,060)
Interest expense, net	$ 115,076	$ 180,734	$ 10,026

Basis of Presentation and Summary of Accounting Policies - Depreciation and Amortization (Details) - USD ($)	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 858,000,000	$ 858,000,000	$ 858,000,000
Property held under finance leases	$ 0	$ 0	$ 0
Building
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	33 years
Leaseholds and Leasehold Improvements \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	10 years
Leaseholds and Leasehold Improvements \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	15 years
Furniture, Fixtures And Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	3 years
Furniture, Fixtures And Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	10 years
Software \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	5 years

Basis of Presentation and Summary of Accounting Policies - Lease Accounting (Details)	12 Months Ended
	Jan. 29, 2022
Minimum
Lessee, Lease, Description [Line Items]
Operating lease term of possession previous to opening store	30 days
Maximum
Lessee, Lease, Description [Line Items]
Operating lease term of possession previous to opening store	60 days

Basis of Presentation and Summary of Accounting Policies - Goodwill and Tradenames (Details) - USD ($)	3 Months Ended	12 Months Ended
	May 02, 2020	Jan. 29, 2022	Feb. 01, 2020	Feb. 03, 2018
Trade Names
Goodwill [Line Items]
Impairment related to tradenames		$ 0	$ 0
Trademarks \| Minimum
Goodwill [Line Items]
Finite lived intangible asset useful life (in years)		7 years
Trademarks \| Maximum
Goodwill [Line Items]
Finite lived intangible asset useful life (in years)		10 years
Sierra Trading Post
Goodwill [Line Items]
Impairment charge related to goodwill				$ 97,000,000
Sierra Trading Post \| Trade Names
Goodwill [Line Items]
Finite lived intangible asset useful life (in years)		15 years
Trade Secret \| Trade Names
Goodwill [Line Items]
Impairment related to tradenames	$ 5,000,000
Former Subsidiary
Goodwill [Line Items]
Percentage owned in subsidiary company		83.00%

Basis of Presentation and Summary of Accounting Policies - Roll Forward of Goodwill by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021
Goodwill [Roll Forward]
Beginning balance	$ 98,998	$ 95,546
Effect of exchange rate changes on goodwill	(2,336)	3,452
Ending balance	96,662	98,998
Marmaxx
Goodwill [Roll Forward]
Beginning balance	70,027	70,027
Effect of exchange rate changes on goodwill	0	0
Ending balance	70,027	70,027
TJX Canada
Goodwill [Roll Forward]
Beginning balance	1,736	1,675
Effect of exchange rate changes on goodwill	0	61
Ending balance	1,736	1,736
TJX International
Goodwill [Roll Forward]
Beginning balance	27,235	23,844
Effect of exchange rate changes on goodwill	(2,336)	3,391
Ending balance	$ 24,899	$ 27,235

Basis of Presentation and Summary of Accounting Policies - Roll Forward Finite Intangible Assets (Details) - Trade Names - USD ($) $ in Thousands	12 Months Ended
	Jan. 30, 2021	Jan. 29, 2022
Sierra Trading Post
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 38,500	$ 38,500
Accumulated Amortization	(20,747)	(23,314)
Impact of FX	0
Net Carrying Value	17,753	15,186
Trade Secret
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	12,541	12,541
Accumulated Amortization	(10,247)	(12,541)
Impact of FX	(2,294)
Net Carrying Value	0	0
Marshalls
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible asset:	$ 107,695	$ 107,695

Basis of Presentation and Summary of Accounting Policies - Impairment of Long-Lived Assets, Goodwill and Tradenames (Details) - USD ($)	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Goodwill [Line Items]
Intangible asset impairments related to goodwill	$ 0	$ 0	$ 0
Trade Names
Goodwill [Line Items]
Impairment related to tradenames	$ 0		$ 0

Basis of Presentation and Summary of Accounting Policies - Advertising Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Accounting Policies [Abstract]
Advertising expense	$ 506	$ 296	$ 452

Basis of Presentation and Summary of Accounting Policies - Equity Investment (Details) - Familia - USD ($)	12 Months Ended
	Feb. 04, 2023	Jan. 29, 2022	Jan. 30, 2021	Feb. 02, 2019	Feb. 01, 2020
Schedule of Equity Method Investments [Line Items]
Ownership percentage					25.00%
Carrying amount		$ 186,000,000	$ 196,000,000
Difference between cost of investment and share of net assets		167,000,000	186,000,000
Cumulative translation loss		40,000,000
Equity method investment impairment		$ 0	$ 0	$ 0
Forecast \| Subsequent Event
Schedule of Equity Method Investments [Line Items]
Equity method investment, loss on disposal (up to)	$ 225,000,000
Trade Names
Schedule of Equity Method Investments [Line Items]
Finite lived intangible asset useful life (in years)		10 years
Customer Relationships
Schedule of Equity Method Investments [Line Items]
Finite lived intangible asset useful life (in years)		7 years

Property at Cost - Components of Property at Cost (Details) - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021
Property, Plant and Equipment [Abstract]
Land and buildings	$ 1,911,569	$ 1,668,381
Leasehold costs and improvements	3,652,280	3,568,829
Furniture, fixtures and equipment	6,871,777	6,525,615
Total property at cost	12,435,626	11,762,825
Less accumulated depreciation and amortization	7,164,799	6,726,729
Net property at cost	$ 5,270,827	$ 5,036,096

Property at Cost - Summary of Long-Lived Assets by Geographic Location (Details) - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Carrying values of long-lived assets	$ 5,270,827	$ 5,036,096
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Carrying values of long-lived assets	4,040,955	3,844,711
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Carrying values of long-lived assets	247,511	241,086
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Carrying values of long-lived assets	927,020	898,518
Australia
Revenues from External Customers and Long-Lived Assets [Line Items]
Carrying values of long-lived assets	$ 55,341	$ 51,781

Accumulated Other Comprehensive (Loss) Income - Changes in Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ 5,832,684	$ 5,948,212	$ 5,048,606
Foreign currency translation adjustments, net of taxes	(46,715)	15,588	(3,943)
Recognition of net gains/losses on benefit obligations, net of taxes	(48,504)	30,635	(56,275)
Amortization of loss on cash flow hedge, net of taxes	(263)	831	831
Amortization of prior service cost and deferred gains/losses, net of taxes	14,403	20,046	16,537
Ending balance	6,002,992	5,832,684	5,948,212
Accumulated Other Comprehensive (Loss) Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(606,071)	(673,171)	(630,321)
Ending balance	(687,150)	(606,071)	(673,171)
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(441,532)	(457,120)	(453,177)
Foreign currency translation adjustments, net of taxes	(46,715)	15,588	(3,943)
Ending balance	(488,247)	(441,532)	(457,120)
Deferred Benefit Costs
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(164,802)	(215,483)	(175,745)
Recognition of net gains/losses on benefit obligations, net of taxes	(48,504)	30,635	(56,275)
Amortization of prior service cost and deferred gains/losses, net of taxes	14,403	20,046	16,537
Ending balance	(198,903)	(164,802)	(215,483)
Cash Flow Hedge on Debt
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	263	(568)	(1,399)
Amortization of loss on cash flow hedge, net of taxes	(263)	831	831
Ending balance	$ 0	$ 263	$ (568)

Accumulated Other Comprehensive (Loss) Income - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Equity [Abstract]
Foreign currency translation adjustments, taxes	$ 207	$ 2,442	$ (1,189)
Recognition of net gains/losses on benefit obligations, taxes	(17,659)	9,974	(20,489)
Amortization of loss on cash flow hedge, taxes	603	303	303
Amortization of prior service cost and deferred gains/losses, taxes	$ 4,588	$ 7,298	$ 6,019

Capital Stock and Earnings Per Share - Additional Information (Details) - USD ($) $ / shares in Units, $ in Billions	3 Months Ended	12 Months Ended
	May 02, 2020	Jan. 29, 2022	May 01, 2021	Jan. 30, 2021	Feb. 01, 2020	Feb. 28, 2022
Capital Unit [Line Items]
Common stock repurchased and retired		$ 2.2		$ 0.2	$ 1.6
Repurchase of common stock (in shares)		31,000,000		3,000,000	28,000,000
Remaining available stock under stock repurchase plan		$ 3.8
Preferred stock, shares authorized (in shares)		5,000,000		5,000,000
Preferred stock, par value ($ per share)		$ 1		$ 1
Antidilutive options excluded (in shares)		5,200,000		6,200,000	11,800,000
Subsequent Event
Capital Unit [Line Items]
Stock repurchase program, additional authorized amount						$ 3.0
Trade Date Basis
Capital Unit [Line Items]
Common stock repurchased and retired (in shares)	3,000,000	32,000,000	0
Common stock repurchased and retired	$ 0.2	$ 2.2

Capital Stock and Earnings Per Share - Calculation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jan. 30, 2021	Oct. 31, 2020	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Basic earnings per share:
Net income			$ 3,282,815	$ 90,470	$ 3,272,193
Weighted average common stock outstanding for basic earnings per share calculation (in shares)			1,199,990	1,199,927	1,208,163
Basic earnings per share (in dollars per share)			$ 2.74	$ 0.08	$ 2.71
Diluted earnings per share:
Net income			$ 3,282,815	$ 90,470	$ 3,272,193
Weighted average common stock outstanding for basic earnings per share calculation (in shares)			1,199,990	1,199,927	1,208,163
Stock options and awards (in shares)			15,601	14,776	18,356
Weighted average common stock outstanding for diluted earnings per share calculation (in shares)			1,215,591	1,214,703	1,226,519
Diluted earnings per share (in dollars per share)			$ 2.70	$ 0.07	$ 2.67
Cash dividends declared per share (in dollars per share)	$ 0.26	$ 0	$ 1.04	$ 0.26	$ 0.92

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Financial Instruments - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Derivative [Line Items]
Hedge of diesel fuel requirement, remainder of fiscal year	50.00%
Realized gains (losses) on derivative	$ 54	$ (74)	$ 20
Foreign currency exchange contracts
Derivative [Line Items]
Term of derivative contracts	30 days

Financial Instruments - Impact of Derivative Financial Instruments on Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	$ 108,312	$ (74,184)	$ 10,288
Intercompany balances, primarily debt and related interest \| Fair value hedges: \| Selling, general and administrative expenses
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	36,033	(59,829)	4,788
Intercompany receivable \| Economic hedges for which hedge accounting was not elected: \| Selling, general and administrative expenses
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	0	0	3,257
Diesel fuel contracts \| Economic hedges for which hedge accounting was not elected: \| Cost of sales, including buying and occupancy costs
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	43,306	(5,638)	(9,780)
Intercompany billings in TJX International, primarily merchandise related: \| Economic hedges for which hedge accounting was not elected: \| Cost of sales, including buying and occupancy costs
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	5,021	(4,249)	2,652
International lease liabilities \| Economic hedges for which hedge accounting was not elected: \| Cost of sales, including buying and occupancy costs
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	0	0	(1,113)
Merchandise purchase commitments: \| Economic hedges for which hedge accounting was not elected: \| Cost of sales, including buying and occupancy costs
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	$ 23,952	$ (4,468)	$ 10,484

Fair Value Measurement - Fair Value of Financial Assets and Liabilities on a Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021
Level 1 \| Executive Savings Plan investments
Assets:
Executive Savings Plan investments	$ 387,666	$ 363,729
Level 2 \| Foreign currency exchange contracts
Assets:
Foreign currency exchange contracts	21,443	4,149
Liabilities:
Foreign currency exchange contracts	3,292	21,921
Level 2 \| Diesel fuel contracts
Assets:
Diesel fuel contracts	$ 23,649	$ 4,880

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021
Fair Value Disclosures [Abstract]
Fair value of long-term debt	$ 3,500,000	$ 5,900,000
Long-term debt	3,354,841	5,332,921
Fair value of current portion of long-term debt		754,000
Current portion of long-term debt	$ 0	$ 749,684

Segment Information - Additional Information (Details)	12 Months Ended
Segment Information - Additional Information (Details)	Jan. 29, 2022 Segment
Segment Reporting [Abstract]
Number of business segments	4

Segment Information - Percentages of Consolidated Revenues by Major Product Category (Details)	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Segment Reporting Information [Line Items]
Revenue percentage	100.00%	100.00%	100.00%
Clothing including footwear
Segment Reporting Information [Line Items]
Revenue percentage	47.00%	46.00%	51.00%
Jewelry and accessories
Segment Reporting Information [Line Items]
Revenue percentage	15.00%	15.00%	16.00%
Home fashions
Segment Reporting Information [Line Items]
Revenue percentage	38.00%	39.00%	33.00%

Segment Information - Financial Information on Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jul. 31, 2021	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Segment Reporting Information [Line Items]
Net sales		$ 48,549,982	$ 32,136,962	$ 41,716,977
General corporate expense		9,081,238	7,020,917	7,454,988
Loss on early extinguishment of debt	$ 242,000	242,248	312,233	0
Interest expense, net		115,076	180,734	10,026
Income before income taxes		4,397,608	89,263	4,406,183
Identifiable assets		28,461,458	30,813,555	24,145,003
Capital expenditures		1,044,794	568,021	1,223,116
Depreciation and amortization		868,002	870,758	867,303
Operating segments
Segment Reporting Information [Line Items]
Segment profit		5,366,022	1,021,267	4,972,954
Corporate
Segment Reporting Information [Line Items]
General corporate expense		611,090	439,037	556,745
Identifiable assets		7,292,905	11,317,381	4,023,043
Depreciation and amortization		7,489	9,989	5,080
Marmaxx \| Operating segments
Segment Reporting Information [Line Items]
Net sales		29,483,073	19,362,573	25,664,805
Segment profit		3,812,847	891,180	3,469,794
Identifiable assets		11,230,232	10,220,441	11,162,890
Capital expenditures		514,141	216,186	614,624
Depreciation and amortization		464,660	478,963	473,908
HomeGoods \| Operating segments
Segment Reporting Information [Line Items]
Net sales		8,995,140	6,096,237	6,355,770
Segment profit		907,391	509,562	680,520
Identifiable assets		3,460,830	2,851,131	2,785,006
Capital expenditures		243,551	162,200	251,864
Depreciation and amortization		149,130	135,205	124,360
TJX Canada \| Operating segments
Segment Reporting Information [Line Items]
Net sales		4,342,538	2,836,088	4,031,406
Segment profit		484,585	124,143	515,559
Identifiable assets		2,196,895	2,035,341	1,889,679
Capital expenditures		68,585	43,879	101,862
Depreciation and amortization		72,507	70,777	66,693
TJX International \| Operating segments
Segment Reporting Information [Line Items]
Net sales		5,729,231	3,842,064	5,664,996
Segment profit		161,199	(503,618)	307,081
Identifiable assets		4,280,596	4,389,261	4,284,385
Capital expenditures		218,517	145,756	254,766
Depreciation and amortization		$ 174,216	$ 175,824	$ 197,262

Stock Incentive Plan - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares approved for issuance under Stock Incentive Plan (up to) (in shares)	696,000,000
Shares available for future grants (in shares)	28,000,000
Compensation cost related to share-based compensation	$ 189	$ 59	$ 125
Unrecognized compensation cost related to nonvested share-based compensation	$ 160
Unrecognized compensation cost weighted-average recognition period, years	2 years
Options granted at market price in percentage	100.00%
Vesting period of grant, years	3 years
Term in which vesting period starts after grant, years	1 year
Maximum term of grant, years	8 years 10 months 24 days
Intrinsic value of options exercised	$ 275	279	$ 293
Performance-based restricted stock and other awards, period	3 years
Stock compensation charge	$ 37	$ 16
Performance-based stock, granted (in shares)	819,587	857,216	1,001,849
Shares granted weighted average grant date fair value (dollars per share)	$ 65.53	$ 56.24	$ 53.20
Fair value of performance-based restricted stock that vested	$ 44	$ 57	$ 38
Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred shares outstanding (in shares)	557,241
Stock Option Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum term of grant, years	10 years

Stock Incentive Plan - Schedule of Estimated Fair Value of Options as of Grant Date by Using Black-Scholes Option Pricing Model (Details) - $ / shares	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Share-based Payment Arrangement [Abstract]
Risk-free interest rate	0.84%	0.28%	1.65%
Dividend yield	1.50%	1.40%	1.60%
Expected volatility factor	23.80%	26.50%	23.40%
Expected option life	5 years	5 years	4 years 10 months 24 days
Weighted average fair value of options issued (in dollars per share)	$ 12.85	$ 11.29	$ 10.84

Stock Incentive Plan - Stock Options And Related Weighted Average Exercise Price (Details) - $ / shares shares in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Options
Outstanding at beginning of year (in shares)	42,604	45,065	49,053
Granted (in shares)	5,324	6,268	6,150
Exercised (in shares)	(7,160)	(8,239)	(9,518)
Forfeitures (in shares)	(535)	(490)	(620)
Outstanding at end of year (in shares)	40,233	42,604	45,065
Options exercisable at end of year (in shares)	29,159	30,659	32,276
Weighted Average Exercise Price
Outstanding at beginning of year (in dollars per share)	$ 41.79	$ 36.81	$ 32.02
Granted (in dollars per share)	70.48	57.32	56.74
Exercised (in dollars per share)	32.04	25.68	24.40
Forfeitures (in dollars per share)	57.55	52.96	46.37
Outstanding at end of year (in dollars per share)	47.11	41.79	36.81
Options exercisable at end of year (in dollars per share)	$ 40.93	$ 36.05	$ 31.04

Stock Incentive Plan - Schedule Of Stock Options Outstanding Expected To Vest And Stock Options Outstanding Exercisable (Details) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 29, 2022 USD ($) $ / shares shares
Share-based Payment Arrangement [Abstract]
Shares, Options outstanding expected to vest (in shares)	10,281
Shares, Options exercisable (in shares)	29,159
Shares, Total outstanding options vested and expected to vest (in shares)	39,440
Aggregate Intrinsic Value, Options outstanding expected to vest \| $	$ 83,586
Aggregate Intrinsic Value, Options exercisable \| $	887,932
Aggregate Intrinsic Value, Total outstanding options vested and expected to vest \| $	$ 971,518
Weighted Average Remaining Contract Life, Options outstanding expected to vest, years	8 years 10 months 24 days
Weighted Average Remaining Contract Life, Options exercisable, years	5 years
Weighted Average Remaining Contract Life, Total outstanding options vested and expected to vest, years	6 years
WAEP, Options outstanding expected to vest (in dollars per share) \| $ / shares	$ 63.25
WAEP, Options exercisable (in dollars per share) \| $ / shares	40.93
WAEP, Total outstanding options vested and expected to vest (in dollars per share) \| $ / shares	$ 46.75
Options outstanding expected to vest represents total unvested options adjusted for anticipated forfeitures (in shares)	11,000

Stock Incentive Plan - Summary of Nonvested Performance-Based Stock Awards (Details) - $ / shares	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Total Stock Awards
Granted (in shares)	819,587	857,216	1,001,849
Weighted Average Grant Date Fair Value
Granted (dollars per share)	$ 65.53	$ 56.24	$ 53.20
Restricted Stock Units
Total Stock Awards
Nonvested at beginning of year (in shares)	1,799,000
Granted (in shares)	513,000
Vested (in shares)	(460,000)
Forfeited (in shares)	(16,000)
Modification (in shares)	0
Nonvested at end of year (in shares)	1,836,000	1,799,000
Performance Stock Units
Total Stock Awards
Nonvested at beginning of year (in shares)	1,122,000
Granted (in shares)	307,000
Vested (in shares)	(378,000)
Forfeited (in shares)	(4,000)
Modification (in shares)	(115,000)
Nonvested at end of year (in shares)	932,000	1,122,000
Restricted Stock Units and Performance Stock Units
Total Stock Awards
Nonvested at beginning of year (in shares)	2,921,000
Granted (in shares)	820,000
Vested (in shares)	(838,000)
Forfeited (in shares)	(20,000)
Modification (in shares)	(115,000)
Nonvested at end of year (in shares)	2,768,000	2,921,000
Weighted Average Grant Date Fair Value
Nonvested at beginning of year (dollars per share)	$ 51.36
Granted (dollars per share)	65.53
Vested (dollars per share)	52.77
Forfeited (dollars per share)	60.24
Modification (dollars per share)	54.99
Nonvested at end of year (dollars per share)	$ 58.91	$ 51.36

Pension Plans and Other Retirement Benefits - Financial Information Related to Funded Defined Benefit Pension Plan and Unfunded Supplemental Pension Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Change in plan assets:
Employer contribution	$ 5,000	$ 5,000	$ 102,000
Net liability (asset) recognized on Consolidated Balance Sheets	118,000	46,000
Funded Plan
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	1,619,274	1,532,416
Service cost	49,116	50,123	44,685
Interest cost	52,097	50,210	52,172
Actuarial losses	29,350	13,758
Benefits paid	(29,548)	(24,527)
Expenses paid	(3,034)	(2,706)
Projected benefit obligation at end of year	1,717,255	1,619,274	1,532,416
Accumulated benefit obligation at end of year	1,560,239	1,481,505
Change in plan assets:
Fair value of plan assets at beginning of year	1,686,735	1,562,274
Actual return on plan assets	59,422	151,594
Employer contribution	100	100
Benefits paid	(29,548)	(24,527)
Expenses paid	(3,034)	(2,706)
Fair value of plan assets at end of year	1,713,675	1,686,735	1,562,274
Funded status – excess obligation (asset)	3,580	(67,461)
Net liability (asset) recognized on Consolidated Balance Sheets	3,580	(67,461)
Prior service cost	426	803
Accumulated actuarial losses	297,336	245,506
Amounts included in Accumulated other comprehensive income (loss)	297,762	246,309
Unfunded Plan
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	113,478	104,823
Service cost	2,426	2,430	2,059
Interest cost	3,099	3,283	3,740
Actuarial losses	233	8,229
Benefits paid	(4,447)	(5,287)
Expenses paid	0	0
Projected benefit obligation at end of year	114,789	113,478	104,823
Accumulated benefit obligation at end of year	100,108	97,451
Change in plan assets:
Fair value of plan assets at beginning of year	0	0
Actual return on plan assets	0	0
Employer contribution	4,447	5,287
Benefits paid	(4,447)	(5,287)
Expenses paid	0	0
Fair value of plan assets at end of year	0	0	$ 0
Funded status – excess obligation (asset)	114,789	113,478
Net liability (asset) recognized on Consolidated Balance Sheets	114,789	113,478
Prior service cost	0	0
Accumulated actuarial losses	31,599	35,880
Amounts included in Accumulated other comprehensive income (loss)	$ 31,599	$ 35,880

Pension Plans and Other Retirement Benefits - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020	Dec. 31, 2019
Pension Plans and Other Retirement Benefits [Line Items]
Net accrued liability recognized in balance sheet	$ 118,000	$ 46,000
Pension plans and other retirement benefits, current liability	4,000	7,000
Pension plans and other retirement benefits, long-term liability	114,000	106,000
Pension plans and other retirement benefits, long-term asset		67,000
Employer contribution	$ 5,000	5,000	$ 102,000
Minimum percentage of pension liability	80.00%
Anticipated employer's contribution to fund current benefit and expense payments under the unfunded plan	$ 4,000
Excess percentage of projected benefit obligation for amortization of unrecognized gains and losses	10.00%
Percentage of employees contribution from eligible pay, maximum	50.00%
Rate of eligible pay for matching employee contributions	5.00%
Employer discretionary contribution, maximum percent of match	25.00%
Deferred compensation plan, enrollment deferral rate	2.00%
Employer pension plan contribution	$ 25,000	19,000	20,000
Funded Plan
Pension Plans and Other Retirement Benefits [Line Items]
Percentage of pension contribution				5.00%
Employee Savings Plan
Pension Plans and Other Retirement Benefits [Line Items]
Total cost to employer	83,000	61,000	59,000
Nonqualified Savings Plan
Pension Plans and Other Retirement Benefits [Line Items]
Total cost to employer	7,000	3,000	7,000
Retirement/Deferred Savings Plan
Pension Plans and Other Retirement Benefits [Line Items]
Total cost to employer	$ 26,000	22,000	$ 20,000
Minimum
Pension Plans and Other Retirement Benefits [Line Items]
Range of rates for matching employee contributions	25.00%
Maximum
Pension Plans and Other Retirement Benefits [Line Items]
Range of rates for matching employee contributions	75.00%
Return-seeking assets
Pension Plans and Other Retirement Benefits [Line Items]
Plan assets, target allocation, percentage	44.00%
Liability-hedging assets
Pension Plans and Other Retirement Benefits [Line Items]
Plan assets, target allocation, percentage	56.00%
Funded Plan
Pension Plans and Other Retirement Benefits [Line Items]
Net accrued liability recognized in balance sheet	$ 3,580	(67,461)
Amount of actual return on assets above estimated return	37,000
Employer contribution	$ 100	$ 100

Pension Plans and Other Retirement Benefits - Weighted Average Assumptions for Obligation (Details)	Jan. 29, 2022	Jan. 30, 2021
Funded Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.40%	3.20%
Rate of compensation increase	4.00%	4.00%
Unfunded Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.30%	2.80%
Rate of compensation increase	4.00%	4.00%

Pension Plans and Other Retirement Benefits - Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Funded Plan
Net periodic pension cost:
Service cost	$ 49,116	$ 50,123	$ 44,685
Interest cost	52,097	50,210	52,172
Expected return on plan assets	(96,002)	(88,997)	(74,141)
Amortization of prior service cost	377	377	377
Amortization of net actuarial loss	14,101	22,351	19,055
Total expense	19,689	34,064	42,148
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net loss (gain)	65,930	(48,838)	71,590
Amortization of net (loss)	(14,101)	(22,351)	(19,055)
Amortization of prior service cost	(377)	(377)	(377)
Total recognized in other comprehensive income (loss)	51,452	(71,566)	52,158
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$ 71,141	$ (37,502)	$ 94,306
Discount rate	3.20%	3.30%	4.30%
Expected rate of return on plan assets	5.75%	5.75%	6.00%
Rate of compensation increase	4.00%	4.00%	4.00%
Unfunded Plan
Net periodic pension cost:
Service cost	$ 2,426	$ 2,430	$ 2,059
Interest cost	3,099	3,283	3,740
Amortization of net actuarial loss	4,513	4,616	3,124
Total expense	10,038	10,329	8,923
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net loss (gain)	233	8,229	4,682
Amortization of net (loss)	(4,513)	(4,616)	(3,124)
Total recognized in other comprehensive income (loss)	(4,280)	3,613	1,558
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$ 5,758	$ 13,942	$ 10,481
Discount rate	2.80%	3.10%	4.10%
Rate of compensation increase	4.00%	4.00%	6.00%
Unfunded Plan \| Primary Benefit
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Rate of compensation increase		6.00%	6.00%
Unfunded Plan \| Alternative Benefit
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Rate of compensation increase	4.00%

Pension Plans and Other Retirement Benefits - Schedule of Benefits Expected to be Paid in Each of Next Five Fiscal Years and Thereafter (Details) $ in Thousands	Jan. 29, 2022 USD ($)
Funded Plan
Defined Benefit Plan Disclosure [Line Items]
2023	$ 40,162
2024	46,253
2025	52,352
2026	58,390
2027	64,463
2028 through 2032	408,023
Unfunded Plan
Defined Benefit Plan Disclosure [Line Items]
2023	3,888
2024	5,042
2025	6,363
2026	52,601
2027	8,424
2028 through 2032	$ 41,209

Pension Plans and Other Retirement Benefits - Fair Value for Pension Assets Measured at Fair Value on Recurring Basis (Details) - Funded Plan - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 1,713,675	$ 1,686,735	$ 1,562,274
Total
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,211,291	736,852
Total \| Short-term investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	8,537	8,598
Total \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	178,336	174,691
Total \| Corporate and government bond funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,021,612	548,667
Total \| Futures Contracts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,806	4,896
Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	186,873	183,289
Level 1 \| Short-term investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	8,537	8,598
Level 1 \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	178,336	174,691
Level 1 \| Corporate and government bond funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Level 1 \| Futures Contracts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,024,418	553,563
Level 2 \| Short-term investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Level 2 \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Level 2 \| Corporate and government bond funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,021,612	548,667
Level 2 \| Futures Contracts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,806	4,896
Assets measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 502,384	$ 949,883

Pension Plans and Other Retirement Benefits - Summary of Target Allocation Guidelines for Plan Assets Along with Actual Allocation of Plan Assets as of Valuation Date (Details)	Jan. 29, 2022	Jan. 30, 2021
Return-seeking assets
Pension Plans and Other Retirement Benefits [Line Items]
Actual allocation	45.00%	48.00%
Liability-hedging assets
Pension Plans and Other Retirement Benefits [Line Items]
Actual allocation	55.00%	51.00%
All other – primarily cash
Pension Plans and Other Retirement Benefits [Line Items]
Actual allocation	0.00%	1.00%

Long-Term Debt and Credit Lines- Long-Term Debt, Exclusive of Current Installments (Details) - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021	Dec. 31, 2020	Apr. 01, 2020
Debt Instrument [Line Items]
Unamortized debt discount	$ 7,475
Long-term debt, gross	3,373,874	$ 6,118,070
Current maturities of long-term debt, net of debt issuance costs	0	(749,684)
Debt issuance costs	(19,033)	(35,465)
Long-term debt	3,354,841	$ 5,332,921
2.750% Senior Unsecured Notes Due June 15, 2021 \| Senior Notes
Debt Instrument [Line Items]
Effective interest rate		2.76%
Unamortized debt discount		$ 25
Long-term debt, gross	$ 0	749,975
2.500% Senior Unsecured Notes Due May 15, 2023 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	2.50%
Effective interest rate	2.51%
Unamortized debt discount	$ 56	100
Long-term debt, gross	499,944	$ 499,900
3.500% Senior Unsecured Notes Due April 15, 2025 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate		3.50%
Effective interest rate		3.58%
Unamortized debt discount		$ 4,208
Long-term debt, gross	$ 0	1,245,792
2.250% Senior Unsecured Notes Due September 15, 2026 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	2.25%
Effective interest rate	2.32%
Unamortized debt discount	$ 3,419	4,165
Long-term debt, gross	996,581	$ 995,835
3.750% Senior Unsecured Notes Due April 15, 2027 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate		3.75%
Effective interest rate		3.76%
Unamortized debt discount		$ 456
Long-term debt, gross	$ 0	749,544
1.150% Senior Unsecured Notes Due May 15, 2028 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	1.15%
Effective interest rate	1.18%
Unamortized debt discount	$ 811	939
Long-term debt, gross	$ 499,189	499,061
3.875% Senior Unsecured Notes Due April 15, 2030 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	3.875%			3.875%
Effective interest rate	3.89%
Unamortized debt discount	$ 506	568
Long-term debt, gross	$ 495,344	495,282	$ 495,500
1.600% Senior Unsecured Notes Due May 15, 2031 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	1.60%
Effective interest rate	1.61%
Unamortized debt discount	$ 551	610
Long-term debt, gross	$ 499,449	499,390
4.500% Senior Unsecured Notes Due April 15, 2050 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	4.50%			4.50%
Effective interest rate	4.52%
Unamortized debt discount	$ 2,132	2,208
Long-term debt, gross	$ 383,367	$ 383,291	$ 385,000

Long-Term Debt and Credit Lines - Aggregate Maturities of Long-Term Debt, Inclusive of Current Installments (Details) - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021
Debt Disclosure [Abstract]
2023	$ 0
2024	500,000
2025	0
2026	0
2027	1,000,000
Later years	1,881,349
Unamortized debt discount	(7,475)
Debt issuance costs	(19,033)	$ (35,465)
Aggregate maturities of long-term debt	$ 3,354,841	$ 5,332,921

Long-Term Debt and Credit Lines - Additional Information (Details)					3 Months Ended	12 Months Ended
	Jun. 25, 2021 USD ($)	Jun. 24, 2021 USD ($)	Jun. 04, 2021 USD ($)	Apr. 15, 2021 USD ($)	Jul. 31, 2021 USD ($)	Jan. 29, 2022 USD ($) CreditFacility	Jan. 30, 2021 USD ($) CreditFacility	Feb. 01, 2020 USD ($)	Jan. 29, 2022 GBP (£) CreditFacility	Jan. 29, 2022 CAD ($) CreditFacility	Jan. 30, 2021 GBP (£) CreditFacility	Jan. 30, 2021 CAD ($) CreditFacility	Dec. 31, 2020 USD ($)	Nov. 30, 2020 USD ($)	Apr. 01, 2020 USD ($)
Debt Instrument [Line Items]
Loss on early extinguishment of debt					$ 242,000,000	$ 242,248,000	$ 312,233,000	$ 0
Long-term debt, gross						$ 3,373,874,000	$ 6,118,070,000
Covenant, maximum leverage ratio						3.50			3.50	3.50
TJX Canada
Debt Instrument [Line Items]
Credit facilities, amount outstanding										$ 0		$ 0
Revolving credit facilities, number \| CreditFacility						2	2		2	2	2	2
Current borrowing capacity										$ 10,000,000		$ 10,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit, maximum borrowing capacity						$ 1,500,000,000
Letter of Credit \| TJX Canada
Debt Instrument [Line Items]
Current borrowing capacity										$ 10,000,000		$ 10,000,000
TJX Europe Credit Line \| TJX International
Debt Instrument [Line Items]
Credit facilities, amount outstanding \| £									£ 0		£ 0
Current borrowing capacity \| £									£ 5,000,000		£ 5,000,000
3.50% Senior Unsecured Notes Due June 4, 2021 \| Senior Notes
Debt Instrument [Line Items]
Extinguishment of debt, amount			$ 1,250,000,000
Debt instrument, interest rate			3.50%
3.75% Senior Unsecured Notes Due June 4, 2021 \| Senior Notes
Debt Instrument [Line Items]
Extinguishment of debt, amount			$ 750,000,000
Debt instrument, interest rate			3.75%
2.750% Senior Notes Due June 15, 2021 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate				2.75%
Repayments of senior debt				$ 750,000,000
Redemption price, percentage of principal amount redeemed				100.00%
3.875% Senior Unsecured Notes Due April 15, 2030 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate						3.875%			3.875%	3.875%					3.875%
Aggregate principal amount															$ 1,250,000,000
Long-term debt, gross						$ 495,344,000	$ 495,282,000						$ 495,500,000
4.500% Senior Unsecured Notes Due April 15, 2050 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate						4.50%			4.50%	4.50%					4.50%
Aggregate principal amount															$ 750,000,000
Long-term debt, gross						$ 383,367,000	383,291,000						$ 385,000,000
1.150% Notes Due 2028 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate														1.15%
Aggregate principal amount														$ 500,000,000
1.600% Notes Due 2031 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate														1.60%
Aggregate principal amount														$ 500,000,000
2.250% Senior Unsecured Notes Due September 15, 2026
Debt Instrument [Line Items]
Aggregate principal amount						$ 1,000,000,000
Debt instrument maturity period, years						10 years
Effective fixed rate						2.36%			2.36%	2.36%
2.250% Senior Unsecured Notes Due September 15, 2026 \| Interest Rate Contract
Debt Instrument [Line Items]
Derivative notional amount						$ 700,000,000
2.250% Senior Unsecured Notes Due September 15, 2026 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate						2.25%			2.25%	2.25%
Long-term debt, gross						$ 996,581,000	995,835,000
2.500% Senior Unsecured Notes Due May 15, 2023
Debt Instrument [Line Items]
Aggregate principal amount						$ 500,000,000
Debt instrument maturity period, years						10 years
Effective fixed rate						2.57%			2.57%	2.57%
2.500% Senior Unsecured Notes Due May 15, 2023 \| Interest Rate Contract
Debt Instrument [Line Items]
Derivative notional amount						$ 250,000,000
2.500% Senior Unsecured Notes Due May 15, 2023 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate						2.50%			2.50%	2.50%
Long-term debt, gross						$ 499,944,000	499,900,000
Revolving Credit Facility Due March 11, 2022 \| Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit, maximum borrowing capacity		$ 500,000,000
Credit facilities, amount outstanding						0	$ 0
Revolving Credit Facility Due June 25, 2026 \| Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit, maximum borrowing capacity	$ 1,000,000,000
Revolving Credit Facility Due August 2021 \| Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit, maximum borrowing capacity		$ 500,000,000
Line of credit facility, expiration period	364 days	364 days
Revolving Credit Facility Due May 10, 2024 \| Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit, maximum borrowing capacity						$ 500,000,000

Income Taxes - Components of Income Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Income Tax Disclosure [Abstract]
United States	$ 3,934,151	$ 642,482	$ 3,742,227
Foreign	463,457	(553,219)	663,956
Income before income taxes	$ 4,397,608	$ 89,263	$ 4,406,183

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (SX 210.9-05(b)(2))
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Current:
Federal	$ 766,200	$ 189,854	$ 708,508
State	270,480	36,246	250,830
Foreign	122,325	4,985	181,061
Deferred:
Federal	(32,562)	(97,705)	9,409
State	(25,723)	(25,406)	(8,203)
Foreign	14,073	(109,181)	(7,615)
Provision (benefit) provision for income taxes	$ 1,114,793	$ (1,207)	$ 1,133,990