2018 Q1 Form 10-K Financial Statement

#000119312518107423 Filed on April 04, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2018 2017 Q4
Revenue $10.96B $35.86B $8.762B
YoY Change 15.77% 8.08% 5.67%
Cost Of Revenue $7.870B $25.50B $6.150B
YoY Change 15.91% 8.22% 5.63%
Gross Profit $3.091B $10.36B $2.612B
YoY Change 15.3% 7.74% 6.72%
Gross Profit Margin 28.2% 28.89% 29.81%
Selling, General & Admin $1.891B $6.375B $1.584B
YoY Change 20.37% 10.52% 8.32%
% of Gross Profit 61.18% 61.52% 60.65%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $193.6M $726.0M $186.9M
YoY Change 16.35% 10.19% 11.52%
% of Gross Profit 6.26% 7.01% 7.15%
Operating Expenses $1.891B $6.375B $1.584B
YoY Change 20.37% 10.52% 8.32%
Operating Profit $1.200B $4.403B $1.123B
YoY Change 8.12% 3.42% 3.72%
Interest Expense $12.00M $69.24M -$25.00M
YoY Change -192.31% 0.03% 8.7%
% of Operating Profit 1.0% 1.57% -2.23%
Other Income/Expense, Net
YoY Change
Pretax Income $1.112B $3.857B $1.020B
YoY Change 1.65% 3.59% 14.63%
Income Tax $323.0M $1.249B $378.6M
% Of Pretax Income 29.05% 32.38% 37.11%
Net Earnings $877.0M $2.608B $641.4M
YoY Change 29.36% 13.48% 16.67%
Net Earnings / Revenue 8.0% 7.27% 7.32%
Basic Earnings Per Share $2.05 $0.51
Diluted Earnings Per Share $686.8K $2.02 $0.50
COMMON SHARES
Basic Shares Outstanding 627.1M shares 1.274B shares 1.268B shares
Diluted Shares Outstanding 1.292B shares 1.286B shares

Balance Sheet

Concept 2018 Q1 2018 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.265B $3.265B $2.876B
YoY Change -5.99% -5.99% 1.77%
Cash & Equivalents $2.758B $2.758B $2.364B
Short-Term Investments $506.0M $506.0M $512.0M
Other Short-Term Assets $707.0M $707.0M $423.0M
YoY Change 89.04% 89.04% 3.17%
Inventory $4.187B $4.187B $4.726B
Prepaid Expenses
Receivables $327.2M $327.0M $345.9M
Other Receivables $0.00 $0.00 $20.00M
Total Short-Term Assets $8.486B $8.486B $8.390B
YoY Change 9.48% 9.48% 5.64%
LONG-TERM ASSETS
Property, Plant & Equipment $5.006B $5.006B $4.858B
YoY Change 10.44% 10.43% 12.49%
Goodwill $100.1M $196.4M
YoY Change -48.91% 0.18%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $459.6M $466.0M $433.0M
YoY Change 15.46% 15.35% 6.64%
Total Long-Term Assets $5.572B $5.572B $5.488B
YoY Change 8.56% 8.55% 11.44%
TOTAL ASSETS
Total Short-Term Assets $8.486B $8.486B $8.390B
Total Long-Term Assets $5.572B $5.572B $5.488B
Total Assets $14.06B $14.06B $13.88B
YoY Change 9.11% 9.11% 7.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.488B $2.488B $2.986B
YoY Change 11.54% 11.52% 11.15%
Accrued Expenses $2.523B $1.298B $2.361B
YoY Change 8.75% 4.68% 9.51%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.126B $5.126B $5.468B
YoY Change 7.73% 7.73% 11.72%
LONG-TERM LIABILITIES
Long-Term Debt $2.231B $2.453B $2.230B
YoY Change 0.14% 2.04% 0.13%
Other Long-Term Liabilities $1.321B $1.099B $1.160B
YoY Change 22.96% 22.38% 5.6%
Total Long-Term Liabilities $3.551B $3.552B $3.390B
YoY Change 7.56% 7.57% 1.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.126B $5.126B $5.468B
Total Long-Term Liabilities $3.551B $3.552B $3.390B
Total Liabilities $8.677B $8.910B $8.858B
YoY Change 7.66% 6.41% 7.76%
SHAREHOLDERS EQUITY
Retained Earnings $4.334B $3.984B
YoY Change -4.92% -11.06%
Common Stock $1.256B $1.265B
YoY Change 94.33% 93.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.148B $5.148B $4.646B
YoY Change
Total Liabilities & Shareholders Equity $14.06B $14.06B $13.88B
YoY Change 9.11% 9.11% 7.86%

Cashflow Statement

Concept 2018 Q1 2018 2017 Q4
OPERATING ACTIVITIES
Net Income $877.0M $2.608B $641.4M
YoY Change 29.36% 13.48% 16.67%
Depreciation, Depletion And Amortization $193.6M $726.0M $186.9M
YoY Change 16.35% 10.19% 11.52%
Cash From Operating Activities $1.096B $3.026B $826.4M
YoY Change -27.62% -16.58% -11.02%
INVESTING ACTIVITIES
Capital Expenditures -$230.1M $1.058B -$320.6M
YoY Change -10.68% 3.21% 22.79%
Acquisitions
YoY Change
Other Investing Activities $16.80M $0.00 -$25.90M
YoY Change -119.53% -100.0% -39.34%
Cash From Investing Activities -$213.3M -$1.013B -$346.6M
YoY Change -37.92% -16.64% 14.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.511B
YoY Change -1.62%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -561.4M -$2.297B -524.2M
YoY Change -10.92% 44.77% 13341.03%
NET CHANGE
Cash From Operating Activities 1.096B $3.026B 826.4M
Cash From Investing Activities -213.3M -$1.013B -346.6M
Cash From Financing Activities -561.4M -$2.297B -524.2M
Net Change In Cash 321.5M -$171.4M -44.40M
YoY Change -40.55% -120.77% -107.15%
FREE CASH FLOW
Cash From Operating Activities $1.096B $3.026B $826.4M
Capital Expenditures -$230.1M $1.058B -$320.6M
Free Cash Flow $1.326B $1.968B $1.147B
YoY Change -25.16% -24.37% -3.6%

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CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.012 pure
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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14.55
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-0.002 pure
CY2017 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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4305000 shares
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78.50
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22300000 shares
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CY2017 us-gaap Effective Income Tax Rate Continuing Operations
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CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.238 pure
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
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1699998000
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425584000
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3150000
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450000
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1200000
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23235000
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1960000
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2271480000
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102251000
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7018000
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327000
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716953000
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17608000
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9600000
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526673000
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3723043000
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48253000
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680183000
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1400000
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1245000
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54600000
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70999000
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14700000
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334000
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7849000
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664500000
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25656000
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12369000
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23565754000
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P5Y0M0D
CY2018 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2018 dei Document Fiscal Period Focus
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FY
CY2018 dei Document Fiscal Year Focus
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2018
CY2018 dei Document Type
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10-K
CY2018 us-gaap Earnings Per Share Diluted
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4.04
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0.337 pure
CY2018 dei Entity Central Index Key
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0000109198
CY2018 dei Entity Well Known Seasoned Issuer
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Yes
CY2018 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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3025624000
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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32.23
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P4Y9M18D
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
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4096000 shares
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3255057000
CY2018 dei Trading Symbol
TradingSymbol
TJX
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
646105000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
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636827000 shares
CY2018 dei Amendment Flag
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false
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0.036 pure
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P371D
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71.40
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73.21
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0.015 pure
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0.0175 pure
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329000 shares
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14.32
CY2018 us-gaap Common Stock Dividends Per Share Declared
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1.25
CY2018 dei Current Fiscal Year End Date
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--02-03
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4.10
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CY2018 dei Document Period End Date
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2018-02-03
CY2018 dei Entity Current Reporting Status
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Yes
CY2018 dei Entity Filer Category
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Large Accelerated Filer
CY2018 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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9278000 shares
CY2018 us-gaap Number Of Operating Segments
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4 Segment
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
4702000 shares
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
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76.71
CY2018 us-gaap Stock Repurchased During Period Shares
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22200000 shares
CY2018 us-gaap Use Of Estimates
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<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 3%"> <font style="FONT-FAMILY: arial" size="2"><b><i>Use of Estimates</i></b><b>:</b> The preparation of TJX&#x2019;s financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. TJX considers its accounting policies relating to inventory valuation, impairment of long-lived assets, goodwill and tradenames, retirement obligations, share-based compensation, casualty insurance, reserves for uncertain tax positions and loss contingencies to be the most significant accounting policies that involve management estimates and judgments. Actual amounts could differ from those estimates, and such differences could be material.</font></p> </div>
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CY2018 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P2Y
CY2018 dei Entity Registrant Name
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TJX COMPANIES INC /DE/
CY2018 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2018 us-gaap Fiscal Period
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<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: medium; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 3%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"> <font style="FONT-FAMILY: arial" size="2"><b><i>Fiscal Year</i></b><b>:</b>&#xA0;TJX&#x2019;s fiscal year ends on the Saturday nearest to the last day of January of each year. The fiscal year ended February&#xA0;3, 2018 (&#x201C;fiscal 2018&#x201D;) was a&#xA0;<font style="WHITE-SPACE: nowrap">53-week</font>&#xA0;fiscal year. Fiscal 2017 and 2016 were&#xA0;<font style="WHITE-SPACE: nowrap">52-week</font>&#xA0;fiscal years.</font></p>
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.235 pure
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
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562006 shares
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P9Y0M0D
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438000
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1300000
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35864664000
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1057617000
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1644581000
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InterestRevenueExpenseNet
-31588000
CY2018 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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51500000
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27207000
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2607948000
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64308000
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IncreaseDecreaseInInventories
450377000
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62358000
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1452000
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2860315000
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101362000
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