Company: TJX
Filing Date: 2025-12-02
Form Type: 10-Q
Source: 0000109198-25-000061
Chunk: 39

Company: TJX COMPANIES INC /DE/
Filing Date: 2025-12-02
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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.5 billion available as of the period ended November 1, 2025, are adequate to meet our operating needs for the foreseeable future. Our 2.25% ten-year Notes due September 2026 will mature during our third quarter of fiscal 2027 and are included within our current maturities of long-term debt. For more information, see Note I—Long-Term Debt and Credit Lines of Notes to Consolidated Financial Statements.

As of November 1, 2025, we held $4.6 billion in cash. Approximately $1.6 billion of our cash was held by our foreign subsidiaries with $1 billion held in countries where we intend to indefinitely reinvest any undistributed earnings. We have provided for all applicable state and foreign withholding taxes on all undistributed earnings of our foreign subsidiaries in Canada, Puerto Rico, Italy, India, Hong Kong and Vietnam through November 1, 2025. If we repatriate cash from such subsidiaries, we should not incur additional tax expense and our cash would be reduced by the amount of withholding taxes paid. 

We monitor debt financing markets on an ongoing basis and from time to time may incur additional long-term indebtedness depending on prevailing market conditions, liquidity requirements, existing economic conditions and other factors. Periodically, we have used, and in the future we may again use, operating cash flow and cash on hand to repay portions of our indebtedness, depending on prevailing market conditions, liquidity requirements, existing economic conditions, contractual restrictions and other factors. As such, we may, from time to time, seek to retire, redeem, prepay or purchase our outstanding debt through redemptions, cash purchases, prepayments, refinancings and/or exchanges, in open market purchases, privately negotiated transactions, by tender offer or otherwise.

Operating Activities

Operating activities resulted in net cash inflows of $3.7 billion for the nine months ended November 1, 2025 and $3.4 billion for the nine months ended November 2, 2024. 

Operating cash flows increased $305 million compared to fiscal 2025 primarily due to an increase in net income, timing of income taxes payable and an increase in accrued expenses reflecting higher incentive compensation costs. This was partially offset by an increase in merchandise inventories. 

Investing Activities

Investing activities resulted in net cash outflows of $1.5 billion for the nine months ended November 1, 2025 and $1.6 billion for the nine months ended November 2,