TJX COMPANIES INC /DE/TJX

TJX COMPANIES INC /DE/ Debt Disclosure

10-KFiled Mar 31, 20263 min read
Long-Term Debt and Credit Lines
The table below presents long-term debt as of January 31, 2026 and February 1, 2025. All amounts are net of unamortized debt discounts.
In millions and net of immaterial unamortized debt discountsJanuary 31,
2026		February 1,
2025
General corporate debt:
2.250% senior unsecured notes, maturing September 15, 2026 (effective interest rate of 2.32% after reduction of unamortized debt discount)
$999 $998 
1.150% senior unsecured notes, maturing May 15, 2028 (effective interest rate of 1.18% after reduction of unamortized debt discount)
500 500 
3.875% senior unsecured notes, maturing April 15, 2030 (effective interest rate of 3.89% after reduction of unamortized debt discount)
496 496 
1.600% senior unsecured notes, maturing May 15, 2031 (effective interest rate of 1.61% after reduction of unamortized debt discount)
500 500 
4.500% senior unsecured notes, maturing April 15, 2050 (effective interest rate of 4.52% after reduction of unamortized debt discount)
383 383 
Total debt2,878 2,877 
Current maturities of long-term debt, net of debt issuance costs(999)— 
Debt issuance costs(9)(11)
Long-term debt$1,870 $2,866 
The aggregate maturities of long-term debt, inclusive of current installments at January 31, 2026 are as follows:
In millions
Fiscal Year:
2027
$1,000 
2028— 
2029500 
2030— 
2031496 
Later years885 
Unamortized debt discount(3)
Debt issuance costs(9)
Less: current maturities of long-term debt(999)
Aggregate maturities of long-term debt$1,870 
Senior Unsecured Notes
As of January 31, 2026, TJX had outstanding $1 billion aggregate principal amount of 2.250% 10-year Notes due September 2026. TJX entered into a rate-lock agreement to hedge $700 million of the 2.250% notes prior to issuance. The cost of this agreement is being amortized to interest expense over the term of the note resulting in an effective fixed rate of 2.36% for the 2.25% notes.
Credit Facilities
As of January 31, 2026, TJX has two revolving credit facilities, a $750 million revolving credit facility maturing in May 2029 (the “2029 Revolving Credit Facility”) and a $750 million senior unsecured revolving credit facility maturing in May 2030 (the “2030 Revolving Credit Facility”).
On May 9, 2025, the Company amended and restated its $500 million revolving credit facility (as amended, the 2029 Revolving Credit Facility) to (i) extend the maturity to May 9, 2029 and (ii) increase the aggregate principal amount commitment to $750 million. All other material terms and conditions of the 2029 Revolving Credit Facility were unchanged.
Additionally, on May 9, 2025, the Company amended and restated its $1 billion revolving credit facility (as amended, the 2030 Revolving Credit Facility) to (i) extend the maturity to May 9, 2030, (ii) decrease the aggregate principal amount of commitments to $750 million and (iii) reduce the interest rate margin applicable to borrowings bearing interest at a term secured overnight financing rate to a margin of 45.0 - 87.5 basis points consistent with the 2029 Revolving Credit Facility. All other material terms and conditions of the 2030 Revolving Credit Facility were unchanged.
Under these credit facilities, the Company has maintained a borrowing capacity of $1.5 billion. As of January 31, 2026 and February 1, 2025, there were no amounts outstanding under these facilities. TJX was in compliance with all covenants related to its credit facilities at the end of all periods presented.

Historical Timeline

Fiscal YearFiled
2026Mar 31, 2026Showing above
2025Apr 2, 2025
2024Apr 3, 2024
2023Mar 29, 2023
2022Mar 30, 2022
2021Mar 31, 2021
2018Apr 4, 2018

About Debt Disclosures

Debt disclosures detail a company's borrowing structure — the types of instruments, interest rates, maturity schedule, and covenant restrictions that define its financial obligations and flexibility. This section is essential for assessing refinancing risk, interest rate exposure, and the margin of safety against financial distress.

Key signals: the maturity schedule reveals concentration risk — large maturities within 1-2 years during tight credit markets can force dilutive refinancing or asset sales. Compare the fair value of debt against carrying amount to gauge whether the market views the company's credit risk differently than the balance sheet suggests. Watch covenant compliance disclosures for tightening cushions, especially leverage and interest coverage ratios. Variable-rate debt exposure quantifies sensitivity to interest rate changes. Secured versus unsecured mix affects recovery rates and future borrowing capacity. Compare net debt-to-EBITDA against industry peers and covenant limits to assess financial health.

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