TJX Cos. Inc. (TJX)

Inventories are stated at the lower of cost or market. TJX uses the retail method for valuing inventories at all of its businesses, except Sierra Trading Post ("STP"), and T.K. Maxx in Australia. The businesses that utilize the retail method have some inventory that is initially valued at cost before the retail method is applied as it has not been fully processed for sale (e.g. inventory in transit and unprocessed inventory in TJX’s distribution centers). Under the retail method, TJX utilizes a permanent markdown strategy and lowers the cost value of the inventory that is subject to markdown at the time the retail prices are lowered in the stores. TJX records inventory at the time title transfers, which is typically at the time when inventory is shipped. As a result, merchandise inventories on TJX’s balance sheet include in-transit inventory of $755.4 million at February 3, 2018 and $641.9 million at January 28, 2017. Comparable amounts were reflected in accounts payable at those dates.

Source: 10-K (filing date: 2018-04-04).

TJX Cos. Inc., Statement of Financial Position, Inventory

USD $ in thousands

		Feb 3, 2018		Jan 28, 2017		Jan 30, 2016		Jan 31, 2015		Feb 1, 2014		Feb 2, 2013
	Merchandise inventories

Based on: 10-K (filing date: 2018-04-04), 10-K (filing date: 2017-03-28), 10-K (filing date: 2016-03-29), 10-K (filing date: 2015-03-31), 10-K (filing date: 2014-04-01), 10-K (filing date: 2013-04-02).