TJX Cos. Inc. (TJX)

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).

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
	Marmaxx
	HomeGoods
	In the United States
	TJX Canada
	TJX International
	Net sales

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).