TJ Maxx 2009 Annual Report Download - page 94

Download and view the complete annual report

Please find page 94 of the 2009 TJ Maxx annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 101

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101

TJX’s cash payments for interest and income taxes and non-cash investing and financing activities are as follows:
In thousands
January 30,
2010
January 31,
2009
January 26,
2008
Fiscal Year Ended
(53 weeks)
Cash paid for:
Interest on debt $ 30,638 $ 28,269 $ 31,190
Income taxes 494,169 449,916 463,835
Changes in accrued expenses due to:
Dividends payable $ 3,829 $ 6,945 $ 6,710
Property additions 37,060 (19,829) 23,557
Non-cash investing and financing activity:
Conversion of zero coupon convertible notes $365,088 $—$—
There were no non-cash financing or investing activities during fiscal 2009 or 2008.
Q. Segment Information
TJXoperatesfivebusinesssegments,threeintheUnited States and one each in Canada and Europe. Each of our
segments has its own administrative, buying and merchandising organization and distribution network. Of our
U.S. based store chains, T.J. Maxx and Marshalls, referred to as Marmaxx, are managed together and reported as a single
segmentandA.J.WrightandHomeGoodseachisreportedasaseparate segment. Outside the U.S., our store chains in
Canada (Winners and HomeSense) are under common management and reported as the TJX Canada segment, and our
store chains in Europe (T.K. Maxx and HomeSense) are also under common management and reported as the TJX
Europe segment.
For fiscal 2010, TJX Canada and TJX Europe accounted for 22% of TJX’s net sales, 19% of segment profit and
22% of consolidated assets. All of our stores, with the exception of HomeGoods and HomeSense, sell family apparel and
home fashions. The HomeGoods and HomeSense stores offer exclusively home fashions. By merchandise category, we
derived approximately 61% of our sales from clothing (including footwear), 26% from home fashions and 13% from
jewelry and accessories in fiscal 2010.
TJX evaluates the performance of its segments based on “segment profit or loss,” which it defines as pre-tax income
before general corporate expense, Provision for Computer Intrusion related costs 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-31