Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

TJX Cos. Inc., consolidated income statement

US$ in millions

12 months ended:	Feb 3, 2024	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019
Net sales	54,217)	49,936)	48,550)	32,137)	41,717)	38,973)
Cost of sales, including buying and occupancy costs	(37,951)	(36,149)	(34,714)	(24,534)	(29,846)	(27,831)
Gross earnings	16,266)	13,787)	13,836)	7,603)	11,871)	11,142)
Selling, general and administrative expenses	(10,469)	(8,927)	(9,081)	(7,021)	(7,455)	(6,924)
Operating income	5,797)	4,860)	4,755)	582)	4,416)	4,218)
Impairment on equity investment	—)	(218)	—)	—)	—)	—)
Loss on early extinguishment of debt	—)	—)	(242)	(312)	—)	—)
Interest expense, excluding capitalized interest	(79)	(84)	(120)	(194)	(59)	(65)
Interest income	249)	78)	4)	13)	49)	56)
Interest expense, net	170)	(6)	(115)	(181)	(10)	(9)
Pension settlement charge	—)	—)	—)	—)	—)	(36)
Income before income taxes	5,967)	4,636)	4,398)	89)	4,406)	4,173)
(Provision) benefit for income taxes	(1,493)	(1,138)	(1,115)	1)	(1,134)	(1,113)
Net income	4,474)	3,498)	3,283)	90)	3,272)	3,060)

Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).

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Income statement item	Description	The company
Net sales	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	TJX Cos. Inc. net sales increased from 2022 to 2023 and from 2023 to 2024.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	TJX Cos. Inc. operating income increased from 2022 to 2023 and from 2023 to 2024.
Income before income taxes	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.	TJX Cos. Inc. income before income taxes increased from 2022 to 2023 and from 2023 to 2024.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	TJX Cos. Inc. net income increased from 2022 to 2023 and from 2023 to 2024.

TJX Cos. Inc. (NYSE:TJX)

Income Statement