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GuruFocus has detected 3 Warning Signs with TJX Companies Inc $TJX.
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TJX Companies Inc (NYSE:TJX)
Capital Lease Obligation
$176 Mil (As of Jan. 2017)

TJX Companies Inc's long-term capital lease obligation for the quarter that ended in Jan. 2017 was $176 Mil.

TJX Companies Inc's quarterly long-term capital lease obligation stayed the same from Jul. 2016 ($0 Mil) to Oct. 2016 ($0 Mil) but then increased from Oct. 2016 ($0 Mil) to Jan. 2017 ($176 Mil).

TJX Companies Inc's annual long-term capital lease obligation increased from Jan. 2015 ($61 Mil) to Jan. 2016 ($85 Mil) and increased from Jan. 2016 ($85 Mil) to Jan. 2017 ($176 Mil).


Definition

Capital lease obligations are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The current portion of a capital lease obligation is the portion of a long-term capital lease that is due over the next year.


Explanation

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

TJX Companies Inc Annual Data

Jan08Jan09Jan10Jan11Jan12Jan13Jan14Jan15Jan16Jan17
LongTermCapitalLeaseObligation 2018161310006185176

TJX Companies Inc Quarterly Data

Oct14Jan15Apr15Jul15Oct15Jan16Apr16Jul16Oct16Jan17
LongTermCapitalLeaseObligation 06100085000176
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