Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Return on Assets (ROA) since 2005
- Analysis of Debt
- Aggregate Accruals
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TJX Cos. Inc., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2025-02-01), 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).
The analysis of the annual financial data reveals several noteworthy trends and patterns in the asset structure over the examined periods.
- Cash and Cash Equivalents
- Cash levels showed a significant increase from 3,217 million US dollars in early 2020 to a peak of 10,470 million in early 2021. Subsequently, cash balances declined notably and stabilized around 5,300 to 5,600 million in the following years, suggesting a substantial cash inflow followed by normalization.
- Accounts Receivable, Net
- Accounts receivable exhibited a steady upward trend, rising from 386 million in 2020 to 549 million in 2025. This gradual increase indicates a moderate growth in credit sales or extended collection periods over the years.
- Merchandise Inventories
- Inventory levels fluctuated; after a decrease from 4,873 million in 2020 to 4,337 million in 2021, they rebounded strongly, increasing to 6,421 million by 2025. This pattern may reflect inventory management adjustments, with a build-up in more recent years possibly to support higher sales volumes or in anticipation of demand.
- Prepaid Expenses and Other Current Assets
- These assets steadily increased from 368 million in 2020 to 617 million in 2025, indicating a rising proportion of such current assets in the overall asset mix.
- Federal, State, and Foreign Income Taxes Recoverable
- This category saw a spike in 2022 and 2023, reaching over 115 million, followed by a decline and stabilization near 60 to 70 million, suggesting fluctuations in tax recoverables possibly due to timing differences in tax payments and refunds.
- Current Assets
- Total current assets experienced a sharp increase from 8,891 million in 2020 to 15,739 million in 2021, driven predominantly by the surge in cash and cash equivalents. After this peak, current assets slightly diminished and then stabilized around 12,600 to 13,000 million, indicating a normalization after a large temporary cash accumulation.
- Net Property at Cost
- Net property showed a steady and consistent upward trend, rising from 5,325 million in 2020 to 7,346 million in 2025, reflecting ongoing capital investments or asset acquisitions over the period in question.
- Non-Current Deferred Income Taxes, Net
- This line item increased significantly from a low base of 12 million in 2020 to a high of 185 million in 2022, then slightly declined, stabilizing around 150 million, which could indicate changes in deferred tax assets/liabilities associated with temporary differences.
- Operating Lease Right of Use Assets
- The assets related to operating leases remained relatively stable, fluctuating narrowly between 8,854 million and 9,641 million over the periods, suggesting consistent leasing activity without major expansions or reductions.
- Goodwill
- Goodwill amounts remained stable, hovering around 95 to 99 million, implying no significant acquisition-related goodwill adjustments during this timeframe.
- Other Assets
- Other assets showed some variation, with a gradual increase from 761 million in 2020 to 849 million in 2024, followed by a notable jump to 1,529 million in 2025. This sharp increase in the last recorded period warrants further investigation to identify underlying causes such as acquisitions or reclassifications.
- Long-term Assets
- Total long-term assets remained fairly steady around 15,000 million initially, before rising progressively to 18,758 million by 2025. This growth is driven by increases in net property and other assets, signaling ongoing asset base expansion.
- Total Assets
- Total assets increased from 24,145 million in 2020 to peak at 30,814 million in 2021, driven primarily by increased current assets. Subsequently, total assets slightly declined and then rose again to 31,749 million by 2025, indicating overall asset growth with some short-term volatility.
In summary, the financial data demonstrates a period of significant cash accumulation around 2021 followed by normalization. Inventory and long-term assets show consistent growth, suggesting capacity expansion or investment in property and other fixed assets. Operating lease assets and goodwill remain steady, while other assets saw a sharp increase at the end of the period. Overall, total asset growth reflects a strategic accumulation of resources with some fluctuations in working capital components.