Statement of Comprehensive Income
Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.
TJX Cos. Inc., consolidated statement of comprehensive income
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 financial data reveals a fluctuating yet overall positive trend in net income over the observed periods. Net income experienced a significant decline from 3,272 million US dollars in early 2020 to just 90 million in early 2021, followed by a strong recovery reaching 4,864 million by early 2025. This recovery suggests improved operational performance or other favorable financial developments after the dip in 2021.
Foreign currency translation adjustments, net of related tax, display volatility without a clear directional trend. Values range from positive 30 million in early 2024 to negative 105 million in early 2025, indicating foreign exchange impacts that fluctuate substantially year to year.
The recognition of net gains or losses on benefit obligations, net of related tax, also shows variability. After a moderate negative value of -56 million in early 2020, the figure swings between positive and negative amounts, peaking at 121 million in early 2023 before declining to 27 million in early 2025. This fluctuation may reflect changes in pension or other benefit plan assumptions or valuations.
Additions to other comprehensive income (loss), net of tax, parallel the gains/losses on benefit obligations with significant variability, moving from negative to positive values and back, ending with a negative figure of -78 million in early 2025. This item contributes notably to the overall volatility in comprehensive income components.
The amortization of loss on cash flow hedge, net of related tax, remains marginal and nearly flat around zero or one million where recorded, suggesting minimal impact from cash flow hedge amortizations on comprehensive income.
Amortization of prior service cost and deferred gains/losses, net of related tax, as well as reclassifications from other comprehensive income (loss) to net income, show slight declining trends, dropping from around 17-20 million in early years to 1 million in the most recent periods. This decline indicates reduced adjustments from these specific accounting treatments.
Other comprehensive income (loss), net of tax, reflects the underlying volatility seen in individual components, swinging from negative to positive and back again, with the latest value in early 2025 standing negative at -77 million. The changes in this measure significantly influence the total comprehensive income figure.
Comprehensive income overall mirrors the net income trend, showing a sharp decrease in early 2021 followed by substantive recovery and growth through early 2025, from 3,229 million down to 158 million and then rising to 4,787 million. Although comprehensive income is affected by fluctuations in other comprehensive income items, its pattern primarily tracks net income due to the relatively larger magnitude of net income figures.
- Net Income
- Displayed a significant dip in early 2021 followed by steady and strong increases through early 2025.
- Foreign Currency Translation Adjustments
- Highly variable with no consistent trend, suggesting sensitivity to exchange rate movements.
- Gains/Losses on Benefit Obligations
- Variable and alternating in sign, likely reflecting changes in actuarial assumptions or plan valuations.
- Additions to Other Comprehensive Income (Loss)
- Fluctuated considerably, contributing to the volatility in total comprehensive income.
- Amortizations and Reclassifications
- Show minor and declining values, indicating a diminishing effect on the financial results.
- Other Comprehensive Income (Loss)
- Highly variable, with a recent negative trend, impacting comprehensive income figures.
- Comprehensive Income
- Follows the net income trajectory closely, with a marked decline and subsequent recovery, reflecting dominant impact of net income on overall performance.