TJ Maxx 2015 Annual Report Download - page 94

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and accordingly, we do not expect that such leases will have a material adverse impact on our financial condition,
results of operations or cash flows. TJX does not generally have sufficient information about these leases to estimate
our potential contingent obligations under them, which could be triggered in the event that one or more of the current
tenants does not fulfill their obligations related to one or more of these leases. TJX may also be contingently liable on
up to nine leases of former TJX businesses which we believe the likelihood of future liability to TJX is remote.
TJX also has contingent obligations in connection with certain assigned or sublet properties that TJX is able to
estimate. We estimate that the undiscounted obligations of (i) leases of former operations not included in our reserve
for former operations and (ii) properties of our former operations if the subtenants do not fulfill their obligations, are
approximately $42.6 million as of January 30, 2016. We believe that most or all of these contingent obligations will not
revert to us and, to the extent they do, will be resolved for substantially less due to mitigating factors including our
expectation to further sublet.
TJX is a party to various agreements under which it may be obligated to indemnify the other party with respect to
breach of warranty or losses related to such matters as title to assets sold, specified environmental matters or certain
income taxes. These obligations are typically limited in time and amount. There are no amounts reflected in our
balance sheets with respect to these contingent obligations.
Contingencies: TJX is subject to certain legal proceedings, lawsuits, disputes and claims that arise from time to
time in the ordinary course of our business. In addition, TJX is a defendant in several lawsuits filed in federal and state
courts brought as putative class or collective actions on behalf of various groups of current and former salaried and
hourly associates in the U.S. The lawsuits allege violations of the Fair Labor Standards Act and of state wage and
hour and other labor statutes, including alleged misclassification of positions as exempt from overtime, alleged
entitlement to additional wages for alleged off-the-clock work by hourly employees and alleged failure to pay all
wages due upon termination. TJX is also a defendant in lawsuits filed in federal courts brought as putative class
actions on behalf of customers relating to TJX’s compare at pricing. The lawsuits are in various procedural stages and
seek unspecified monetary damages, injunctive relief and attorneys’ fees. At this time, TJX is not able to predict the
outcome of these lawsuits or the amount of any loss that may arise from them.
Note O. Supplemental Cash Flows Information
TJX’s cash payments for interest and income taxes and non-cash investing and financing activities are as follows:
Fiscal Year Ended
In thousands
January 30,
2016
January 31,
2015
February 1,
2014
Cash paid for:
Interest on debt $ 64,188 $ 66,265 $ 52,196
Income taxes 1,301,122 1,091,128 1,240,377
Changes in accrued expenses due to:
Dividends payable $ 20,315 $ 17,377 $ 19,380
Property additions 33,384 8,254 (6,432)
Non-cash investing and financing activity:
Construction in progress $ (30,767) $ (60,733) $ —
Financing lease obligation 30,767 60,733 —
F-33