Stock Analysis on Net
Stock Analysis on Net
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TJX Cos. Inc. (NYSE:TJX)

Income Statement

Beginner level

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

TJX Cos. Inc., consolidated income statement

US$ in thousands

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12 months ended: Feb 1, 2020 Feb 2, 2019 Feb 3, 2018 Jan 28, 2017 Jan 30, 2016 Jan 31, 2015
Net sales 41,716,977  38,972,934  35,864,664  33,183,744  30,944,938  29,078,407 
Cost of sales, including buying and occupancy costs (29,845,780) (27,831,177) (25,502,167) (23,565,754) (22,034,523) (20,776,522)
Gross earnings 11,871,197  11,141,757  10,362,497  9,617,990  8,910,415  8,301,885 
Selling, general and administrative expenses (7,454,988) (6,923,564) (6,375,071) (5,768,467) (5,205,715) (4,695,384)
Impairment of goodwill and other long-lived assets, related to Sierra —  —  (99,250) —  —  — 
Operating income 4,416,209  4,218,193  3,888,176  3,849,523  3,704,700  3,606,501 
Loss on early extinguishment of debt —  —  —  (51,773) —  (16,830)
Pension settlement charge —  (36,122) —  (31,173) —  — 
Interest expense, excluding capitalized interest (59,086) (64,839) (64,295) (61,671) (60,269) (55,380)
Interest income 49,060  55,979  32,707  18,137  13,869  15,593 
Interest expense, net (10,026) (8,860) (31,588) (43,534) (46,400) (39,787)
Income before provision for income taxes 4,406,183  4,173,211  3,856,588  3,723,043  3,658,300  3,549,884 
Provision for income taxes (1,133,990) (1,113,413) (1,248,640) (1,424,809) (1,380,642) (1,334,756)
Net income 3,272,193  3,059,798  2,607,948  2,298,234  2,277,658  2,215,128 

Based on: 10-K (filing date: 2020-03-27), 10-K (filing date: 2019-04-03), 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).

Income statement item Description The company
Net sales Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. TJX Cos. Inc.’s net sales increased from 2018 to 2019 and from 2019 to 2020.
Operating income The net result for the period of deducting operating expenses from operating revenues. TJX Cos. Inc.’s operating income increased from 2018 to 2019 and from 2019 to 2020.
Income before provision for income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. TJX Cos. Inc.’s income before provision for income taxes increased from 2018 to 2019 and from 2019 to 2020.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. TJX Cos. Inc.’s net income increased from 2018 to 2019 and from 2019 to 2020.