Company: TJX
Filing Date: 2025-12-02
Form Type: 10-Q
Source: 0000109198-25-000061
Chunk: 65

Company: TJX COMPANIES INC /DE/
Filing Date: 2025-12-02
Form: 10-Q
Item: Part I, Item 8
Chunk 65
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(22)Intercompany billings in TJX International, primarily merchandiseCost of sales, including buying and occupancy costs1 4 (7)5 Merchandise purchase commitmentsCost of sales, including buying and occupancy costs13 1 (43)15 Gain (Loss) recognized in income$18 $1 $(77)$1 

Note F. 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 (also referred to as 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 liabilitiesLevel 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 liabilityLevel 3:  Unobservable inputs for the asset or liabilityThe following table sets forth TJX’s financial assets and liabilities that are accounted for at fair value on a recurring basis:In millionsNovember 1,2025February 1,2025November 2,2024Level 1Assets:Executive Savings Plan investments$545.5 $481.4 $465.8 Level 2Assets:Foreign currency exchange contracts$29.7 $53.1 $23.6 Diesel fuel contracts2.8 — — Liabilities:Foreign currency exchange contracts$18.6 $9.0 $8.7 Diesel fuel contracts— 9.1 16.3 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.

18

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