Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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TJX Cos. Inc. pages available for free this week:
- Balance Sheet: Assets
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Aggregate Accruals
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TJX Cos. Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-05-02), 10-K (reporting date: 2026-01-31), 10-Q (reporting date: 2025-11-01), 10-Q (reporting date: 2025-08-02), 10-Q (reporting date: 2025-05-03), 10-K (reporting date: 2025-02-01), 10-Q (reporting date: 2024-11-02), 10-Q (reporting date: 2024-08-03), 10-Q (reporting date: 2024-05-04), 10-K (reporting date: 2024-02-03), 10-Q (reporting date: 2023-10-28), 10-Q (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-K (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-K (reporting date: 2021-01-30), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02).
The financial position exhibits a strategic shift in capital structure, characterized by a significant reduction in long-term debt and a substantial increase in shareholders' equity over the observed period.
- Current Liabilities and Short-Term Obligations
- Current liabilities have experienced an overall upward trajectory, rising from 4,670 million in May 2020 to 12,855 million by May 2026. This growth is primarily driven by increases in accounts payable and accrued expenses. Accounts payable demonstrated significant volatility, peaking during late 2020 and again in late 2025, reflecting fluctuations in inventory procurement and supplier payment cycles. Accrued expenses and other current liabilities showed a steady climb from 2,188 million to 5,028 million, indicating an expansion in operational obligations.
- Long-Term Debt and Lease Obligations
- A marked deleveraging trend is evident in long-term debt, which declined from 7,192 million in May 2020 to 1,871 million by May 2026. This reduction suggests a prioritized effort to retire long-term borrowings. Conversely, long-term operating lease liabilities have remained a primary component of non-current liabilities, growing moderately from 7,915 million to 9,596 million over the same period. Total long-term liabilities decreased from 16,006 million to 12,900 million, reflecting the impact of the debt reduction outweighing the increase in lease obligations.
- Shareholders' Equity and Retained Earnings
- Shareholders' equity grew robustly, more than doubling from 4,739 million in May 2020 to 10,403 million by May 2026. This expansion was fueled almost entirely by a consistent increase in retained earnings, which rose from 4,331 million to 9,669 million, signaling strong internal profit generation and capital retention. A slight downward trend in common stock values, moving from 1,198 million to 1,105 million, suggests the execution of share buyback programs.
- Overall Solvency and Capital Composition
- The total balance sheet expanded from 25,415 million to 36,158 million. While total liabilities increased from 20,676 million to 25,755 million, the proportion of equity relative to total assets improved significantly. The transition from a debt-heavy long-term liability profile to one supported by retained earnings indicates a strengthened solvency position and a lower reliance on external long-term financing.