TJX Companies, Inc. reports the following footnote relating to its capital and operating leases in its 10-K
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TJX Companies, Inc. reports the following footnote relating to its capital and operating leases in its 10-K report.
Required
a. Using a 7\% discount rate and rounding the remaining lease life to the nearest whole year, compute the present value of TJX's operating leases. Explain the adjustments we might consider to its balance sheet and income statement using that information.
b. TJX reported total liabilities of nearly \(\$ 5.85\) billion for fiscal 2013 . Would the adjustment from part \(a\) make a substantial difference to the company's total liabilities? Explain.
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ISBN: 9781618533593
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