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TJX Cos. Inc. (TJX)
Analysis of Revenues
Revenue Recognition Accounting Policy
TJX records revenue at the time of sale and receipt of merchandise by the customer, net of a reserve for estimated returns. TJXe estimates returns based upon the historical experience. TJX defers recognition of a layaway sale and its related profit to the accounting period when the customer receives the layaway merchandise. Proceeds from the sale of gift cards as well as the value of store cards issued to customers as a result of a return or exchange are deferred until the customers use the cards to acquire merchandise. Based on historical experience, TJX estimates the amount of gift cards and store cards that will not be redeemed (referred to as breakage) and, to the extent allowed by local law, these amounts are amortized into income over the redemption period. Revenue recognized from breakage was $21.1 million in fiscal 2018, $20.5 million in fiscal 2017 and $13.8 million in fiscal 2016. TJX estimates the date of receipt by the customer when recognizing revenue from sales by the e-commerce operations and shipping and handling costs charged to the customer are included in revenue. The shipping and handling costs incurred by TJX are included in cost of sales, including buying and occupancy costs.
Source: 10-K (filing date: 2018-04-04).
Revenues as Reported
TJX Cos. Inc., Income Statement, Revenues
USD $ in thousands
|12 months ended||Feb 3, 2018||Jan 28, 2017||Jan 30, 2016||Jan 31, 2015||Feb 1, 2014||Feb 2, 2013|
|In the United States|
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).
|Net sales||Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).||TJX Cos. Inc.’s net sales increased from 2016 to 2017 and from 2017 to 2018.|