TJ Maxx 2000 Annual Report Download - page 20

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Fiscal Year Ended
January 27, January 29, January 30,
In Thousands 2001 2000 1999
IDENTIFIABLE ASSETS:
Marmaxx $2,050,775 $1,916,230 $1,887,296
Winners 151,062 111,446 88,106
T. K. Maxx 176,916 138,914 108,154
HomeGoods 126,010 63,888 49,515
A. J. Wright 56,423 22,813 10,323
Corporate (primarily cash, goodwill and deferred taxes) 371,097 551,672 604,452
$2,932,283 $2,804,963 $2,747,846
CAPITAL EXPENDITURES:
Marmaxx $ 152,901 $ 175,985 $ 164,502
Winners 18,775 11,412 11,778
T. K. Maxx 29,569 31,647 17,497
HomeGoods 30,245 10,819 5,688
A. J. Wright 25,515 8,706 8,277
$ 257,005 $ 238,569 $ 207,742
DEPRECIATION AND AMORTIZATION:
Marmaxx $ 145,987 $ 136,898 $ 117,890
Winners 7,779 6,657 5,127
T. K. Maxx 10,292 8,552 6,929
HomeGoods 5,444 3,911 3,302
A. J. Wright 2,689 1,491 317
Corporate (including goodwill) 3,590 2,957 2,904
$ 175,781 $ 160,466 $ 136,469
O. SUBSEQUENT EVENTS
On February 13, 2001, TJX issued $517.5 million zero coupon convertible subordinated notes due in February 2021 and raised gross
proceeds of $347.6 million. The issue price of the notes represents a yield to maturity of 2% per year. The notes are subordinated to all
existing and future senior indebtedness of TJX. The notes are convertible into 8.5 million shares of common stock of TJX if the sale price
of the common stock reaches specified thresholds, if the credit rating of the notes is below investment grade, if the notes are called for
redemption or if certain specified corporate transactions have occurred. The holders have the right to require TJX to purchase the notes at
the end of the first, third, sixth and twelfth year following the issuance date, for the original purchase price plus accrued original issue
discount. If this option is elected at the end of the first year, original issue discount accrued will be at the reduced rate of 1.5%. In addition,
if a change in control of TJX occurs on or before February 13, 2007, each holder may require TJX to purchase for cash, all or a portion of
such holder’s notes. TJX may redeem for cash all, or a portion of, the notes at any time on or after February 13, 2007 for the original
purchase price plus accrued original issue discount. TJX intends to use the proceeds to fund an accelerated store roll–out program, invest-
ment in its distribution center network, its common stock repurchase program and for general corporate purposes.
THE TJX COMPANIES, INC.
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