Company: TJX
Filing Date: 2025-12-02
Form Type: 10-Q
Source: 0000109198-25-000061
Chunk: 9

Company: TJX COMPANIES INC /DE/
Filing Date: 2025-12-02
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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 FASB issued new guidance to modernize the accounting for internal-use software costs by increasing the operability of the recognition guidance considering different methods of software development. This standard is effective for fiscal years beginning after December 15, 2027, and for interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of the adoption on its consolidated financial statement disclosures and plans to adopt this standard for annual reporting as well as interim period reporting beginning in fiscal year 2029.SEC Rule ChangesIn March 2024, the SEC adopted new rules phasing in for fiscal years beginning on or after January 1, 2025 that will require registrants to provide certain climate-related information in their registration statements and annual reports. In April 2024, the SEC determined to voluntarily stay the final rules pending certain legal challenges. In March 2025, the SEC withdrew its defense of the rules in the pending litigation and, in July 2025, filed a status report requesting that the U.S. Court of Appeals for the Eighth Circuit (the "Eighth Circuit") proceed with the case and issue an opinion on the challenges to the rules. In September 2025, the Eighth Circuit denied the SEC's request to proceed with the case and issued an order staying the litigation until the SEC either renews its defense of the rules or revised the rules via notice-and-comment rulemaking. The Company is continuing to monitor the status.Recently Adopted Accounting StandardsImprovements to Reportable Segment Disclosures

In November 2023, the FASB issued guidance related to improvements to reportable segment disclosures. The new standard improves financial reporting by requiring disclosure of incremental segment information on an annual and interim basis to enable investors to develop more decision-useful financial analyses. The Company adopted this standard as of February 1, 2025, on a retrospective basis. Refer to Note G—Segment Information for the impact upon adoption of the new required disclosures. 

Note B. Property at Cost 

The following table presents the components of property at cost:In millionsNovember 1,2025February 1,2025November 2,2024Land and buildings$2,681 $2,558 $2,436 Leasehold costs and improvements5,263 4,710 4,670 Furniture, fixtures and equipment9,275 8,714 8,540 Total property at cost$17,219 $15,982 $15,646 Less