TJX Cos. Inc., balance sheet: property, plant and equipment

US$ in thousands

		Jan 30, 2021		Feb 1, 2020		Feb 2, 2019		Feb 3, 2018		Jan 28, 2017		Jan 30, 2016
	Land and buildings
	Leasehold costs and improvements
	Furniture, fixtures and equipment
	Property at cost
	Accumulated depreciation and amortization
	Net property at cost

Item	Description	The company
Property at cost	Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	TJX Cos. Inc.’s property at cost increased from 2019 to 2020 and from 2020 to 2021.
Net property at cost	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	TJX Cos. Inc.’s net property at cost increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.

TJX Cos. Inc., asset age ratios

		Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018	Jan 28, 2017	Jan 30, 2016
	Average age ratio
	Estimated total useful life (years)
	Estimated age, time elapsed since purchase (years)
	Estimated remaining life (years)

Asset age ratio	Description	The company
Average age ratio	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company’s fixed asset base is old or new. Newer assets are likely to be more efficient.	TJX Cos. Inc.’s average age ratio of depreciable property, plant and equipment deteriorated from 2019 to 2020 and from 2020 to 2021.
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company’s depreciation policy and can be used for comparisons with competitors.	TJX Cos. Inc.’s estimated total useful life of depreciable property, plant and equipment increased from 2019 to 2020 and from 2020 to 2021.
Estimated time elapsed since purchase	The approximate age in years of a company’s fixed assets. Useful for comparison purposes.	TJX Cos. Inc.’s estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2019 to 2020 and from 2020 to 2021.
Estimated remaining life		TJX Cos. Inc.’s estimated remaining life of depreciable property, plant and equipment decreased from 2019 to 2020 and from 2020 to 2021.

		Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018	Jan 28, 2017	Jan 30, 2016
	Selected Financial Data (US$ in thousands)
	Accumulated depreciation and amortization
	Property at cost
	Asset Age Ratio
	Average age¹

2021 Calculations

¹ Average age = 100 × Accumulated depreciation and amortization ÷ Property at cost
= 100 × ÷ =

Asset age ratio	Description	The company
Average age	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company’s fixed asset base is old or new. Newer assets are likely to be more efficient.	TJX Cos. Inc.’s average age ratio of depreciable property, plant and equipment deteriorated from 2019 to 2020 and from 2020 to 2021.

		Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018	Jan 28, 2017	Jan 30, 2016
	Selected Financial Data (US$ in thousands)
	Property at cost
	Depreciation and amortization expense for property
	Asset Age Ratio (Years)
	Estimated total useful life¹

2021 Calculations

¹ Estimated total useful life = Property at cost ÷ Depreciation and amortization expense for property
= ÷ =

Asset age ratio	Description	The company
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company’s depreciation policy and can be used for comparisons with competitors.	TJX Cos. Inc.’s estimated total useful life of depreciable property, plant and equipment increased from 2019 to 2020 and from 2020 to 2021.

		Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018	Jan 28, 2017	Jan 30, 2016
	Selected Financial Data (US$ in thousands)
	Accumulated depreciation and amortization
	Depreciation and amortization expense for property
	Asset Age Ratio (Years)
	Time elapsed since purchase¹

2021 Calculations

¹ Time elapsed since purchase = Accumulated depreciation and amortization ÷ Depreciation and amortization expense for property
= ÷ =

Asset age ratio	Description	The company
Estimated time elapsed since purchase	The approximate age in years of a company’s fixed assets. Useful for comparison purposes.	TJX Cos. Inc.’s estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2019 to 2020 and from 2020 to 2021.

		Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018	Jan 28, 2017	Jan 30, 2016
	Selected Financial Data (US$ in thousands)
	Net property at cost
	Depreciation and amortization expense for property
	Asset Age Ratio (Years)
	Estimated remaining life¹

2021 Calculations

¹ Estimated remaining life = Net property at cost ÷ Depreciation and amortization expense for property
= ÷ =

Asset age ratio	Description	The company
Estimated remaining life		TJX Cos. Inc.’s estimated remaining life of depreciable property, plant and equipment decreased from 2019 to 2020 and from 2020 to 2021.

	TJX Cos. Inc.	Other companies (not purchased previously)
Financial Statements
Common-Size Financial Statements
Analysis of Financial Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis of Components of Financial Statements
Financial Reporting Quality

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Financial Statements
Common-Size Financial Statements
Analysis of Financial Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis of Components of Financial Statements
Financial Reporting Quality

TJX Cos. Inc. (NYSE:TJX)

Analysis of Property, Plant and Equipment