TJ Maxx 2004 Annual Report Download - page 82

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TJX’s cash payments for interest and income taxes and non-cash investing and financing activities are as follows:
Fiscal Year Ended
January 29, January 31, January 25,
In Thousands 2005 2004 2003
(53 weeks)
Cash paid for:
Interest on debt $ 25,074 $ 25,313 $ 26,943
Income taxes 338,952 260,818 233,033
Change in accrued expenses due to:
Stock repurchase $(6,657) $(5,477) $ 15,871
Dividends payable 4,160 1,856 3,396
There were no non-cash financing or investing activities during fiscal 2005, 2004 or 2003.
N. Segment Information
The T.J. Maxx and Marshalls store chains are managed on a combined basis and are reported as the Marmaxx segment. The
Winners and HomeSense chains are also managed on a combined basis and operate exclusively in Canada. T.K. Maxx operates in
the United Kingdom and the Republic of Ireland. Winners and T.K. Maxx accounted for 17% of TJX’s net sales for fiscal 2005,
15% of segment profit and 20% of all consolidated assets. All of our other store chains operate in the United States with the
exception of 14 stores operated in Puerto Rico by Marshalls which include 5 HomeGoods locations in a ‘‘Marshalls Mega Store’’
format. All of our stores, with the exception of HomeGoods, HomeSense and Bob’s Stores sell apparel for the entire family with a
limited offering of giftware and home fashions. The HomeGoods and HomeSense stores offer home fashions and home furnishings.
Bob’s Stores is a value-oriented retailer of branded family apparel.
We evaluate the performance of our segments based on ‘‘segment profit or loss,’’ which we define as pre-tax income before
general corporate expense and interest. ‘‘Segment profit or loss,’’ as defined by TJX, may not be comparable to similarly titled
measures used by other entities. In addition, this measure of performance should not be considered an alternative to net income or
cash flows from operating activities as an indicator of our performance or as a measure of liquidity.
F-28