Prepare ratio analyses for the three year time period. You will compute the following ratios:

• Profitability ratios:
  • Gross Profit margin
  • Operating expense margin
  • Profit margin
  • Return on assets
  • Return on equity

• Productivity ratios:
  • Accounts Receivable Turnover
  • Days Sales Outstanding
  • Inventory Turnover
  • Days inventory outstanding
  • Accounts Payable turnover
  • Days payable outstanding
  • Cash Conversion Cycle
  • PPE Turnover

• Coverage ratios:
  • Total liabilities-to-equity
  • Total debt to equity
  • Cash from operations to total debt
  • Times interest earned

• Liquidity ratios:
  • Current Ratio
  • Quick Ratio

2017 Thousands 2,758,477 506,165 327,166 4,187,243 706,676 2016 Thousands 2,929,849 543,242 258,831 3,644,959 373,893 TJX Companies, Inc. (NYS: TJX) As Reported Annual Balance Sheet Report Date Scale Cash & cash equivalents Short-term investments Accounts receivable, net Merchandise inventories Prepaid expenses & other current assets Federal, state & foreign income taxes recoverable Current deferred income taxes, net Total current assets Total property at cost Less accumulated depreciation & amortization Net property at cost Non-current deferred income taxes, net Goodwill Other assets Total assets 2015 Thousands 2,095,473 352,313 238,072 3,695,113 380,530 11,059 2014 Thousands 2,493,775 282,623 213,824 3,217,923 356,824 12,475 137,617 6,715,061 8,340,541 4,472,176 3,868,365 24,546 309,870 210,539 11,128,381 8,485,727 9,968, 308 4,962,255 5,006,053 6,558 100,069 459,608 14,058,015 7,750,774 9,003,403 4,470,509 4,532,894 6,193 195,871 398,076 12,883,808 6,772,560 9,068,667 4,931,092 4,137,575 13,831 343,796 231,720 11,499,482 Accounts payable Accrued expenses & other current liabilities Federal, state & foreign income taxes payable Total current liabilities Other long-term liabilities Non-current deferred income taxes, net Long-term debt Total Liabilities 2,488,373 2,522,961 114,203 5,125,537 1,320,505 233,057 2,230,607 8,909,706 2,230,904 2,320,464 206,288 4,757,656 1,073,954 314,000 2,227,599 8,373,209 2,203,050 2,069,659 129,521 4,402,230 881,021 285,102 1,624,054 7,192,407 2,007,511 1,796,122 126,001 3,929,634 888, 137 422,516 1,623,864 6,864,151 Common stock Accumulated other comprehensive income (loss) Retained earnings (accumulated deficit) Total shareholders' equity 628,009 441,859 4,962, 159 5,148,309 646,319 -694,226 4,558,506 4,510,599 663,496 -667,472 4,311,051 4,307,075 684,733 -554,385 4,133,882 4,264,230 TJX Companies, Inc. (NYS: TJX) As Reported Annual Income Statement Report Date Scale Net sales Cost of sales, including buying & occupancy costs Gross Profit Selling, general & administrative expenses Impairment of goodwill & other long-lived assets, related to Sierra Trading Post (STP) Gain (loss) on early extinguishment of debt Pension settlement charge interest expense Income (loss) before provision for income taxes Provision for (benefit from) income taxes Net income (loss) 2017 Thousands 35,864,664 25,502, 167 10,362,497 6,375,071 99,250 2016 Thousands 33,183,744 23,565,754 9,617,990 5,768,467 2015 Thousands 30,944,938 22,034,523 8,910,415 5,205,715 2014 Thousands 29,078,407 20,776,522 8,301,885 4,695,384 16,830 31,588 3,856,588 1,248,640 2,607,948 51,773 31,173 43,534 3,723,043 1,424,809 2,298,234 46,400 3,658,300 1,380,642 2,277,658 39,787 3,549,884 1,334,756 2,215,128 TJX Companies, Inc. (NYS: TJX) Additional information Report Date Scale market price per share Weighted average shares outstanding - basic Weighted average shares outstanding - diluted Year end shares outstanding Cash dividends declared per share Net earnings (loss) per share - basic Net earnings (loss) per share - diluted 2017 Thousands 76.46 636,827 646,105 628,009 1.25 4.1 4.04 2016 Thousands 75.13 655,647 664,432 646,319 1.04 3.51 3.46 2015 Thousands 70.91 673,484 683,251 663,496 0.84 3.38 3.33 2014 Thousands 76.12 692,691 703,545 705,017 0.70 3.20 3.15 Net cash flows from operating activities 3,025,624 3,601,894 2,937,343 3,008,369 2017 Thousands 2,758,477 506,165 327,166 4,187,243 706,676 2016 Thousands 2,929,849 543,242 258,831 3,644,959 373,893 TJX Companies, Inc. (NYS: TJX) As Reported Annual Balance Sheet Report Date Scale Cash & cash equivalents Short-term investments Accounts receivable, net Merchandise inventories Prepaid expenses & other current assets Federal, state & foreign income taxes recoverable Current deferred income taxes, net Total current assets Total property at cost Less accumulated depreciation & amortization Net property at cost Non-current deferred income taxes, net Goodwill Other assets Total assets 2015 Thousands 2,095,473 352,313 238,072 3,695,113 380,530 11,059 2014 Thousands 2,493,775 282,623 213,824 3,217,923 356,824 12,475 137,617 6,715,061 8,340,541 4,472,176 3,868,365 24,546 309,870 210,539 11,128,381 8,485,727 9,968, 308 4,962,255 5,006,053 6,558 100,069 459,608 14,058,015 7,750,774 9,003,403 4,470,509 4,532,894 6,193 195,871 398,076 12,883,808 6,772,560 9,068,667 4,931,092 4,137,575 13,831 343,796 231,720 11,499,482 Accounts payable Accrued expenses & other current liabilities Federal, state & foreign income taxes payable Total current liabilities Other long-term liabilities Non-current deferred income taxes, net Long-term debt Total Liabilities 2,488,373 2,522,961 114,203 5,125,537 1,320,505 233,057 2,230,607 8,909,706 2,230,904 2,320,464 206,288 4,757,656 1,073,954 314,000 2,227,599 8,373,209 2,203,050 2,069,659 129,521 4,402,230 881,021 285,102 1,624,054 7,192,407 2,007,511 1,796,122 126,001 3,929,634 888, 137 422,516 1,623,864 6,864,151 Common stock Accumulated other comprehensive income (loss) Retained earnings (accumulated deficit) Total shareholders' equity 628,009 441,859 4,962, 159 5,148,309 646,319 -694,226 4,558,506 4,510,599 663,496 -667,472 4,311,051 4,307,075 684,733 -554,385 4,133,882 4,264,230 TJX Companies, Inc. (NYS: TJX) As Reported Annual Income Statement Report Date Scale Net sales Cost of sales, including buying & occupancy costs Gross Profit Selling, general & administrative expenses Impairment of goodwill & other long-lived assets, related to Sierra Trading Post (STP) Gain (loss) on early extinguishment of debt Pension settlement charge interest expense Income (loss) before provision for income taxes Provision for (benefit from) income taxes Net income (loss) 2017 Thousands 35,864,664 25,502, 167 10,362,497 6,375,071 99,250 2016 Thousands 33,183,744 23,565,754 9,617,990 5,768,467 2015 Thousands 30,944,938 22,034,523 8,910,415 5,205,715 2014 Thousands 29,078,407 20,776,522 8,301,885 4,695,384 16,830 31,588 3,856,588 1,248,640 2,607,948 51,773 31,173 43,534 3,723,043 1,424,809 2,298,234 46,400 3,658,300 1,380,642 2,277,658 39,787 3,549,884 1,334,756 2,215,128 TJX Companies, Inc. (NYS: TJX) Additional information Report Date Scale market price per share Weighted average shares outstanding - basic Weighted average shares outstanding - diluted Year end shares outstanding Cash dividends declared per share Net earnings (loss) per share - basic Net earnings (loss) per share - diluted 2017 Thousands 76.46 636,827 646,105 628,009 1.25 4.1 4.04 2016 Thousands 75.13 655,647 664,432 646,319 1.04 3.51 3.46 2015 Thousands 70.91 673,484 683,251 663,496 0.84 3.38 3.33 2014 Thousands 76.12 692,691 703,545 705,017 0.70 3.20 3.15 Net cash flows from operating activities 3,025,624 3,601,894 2,937,343 3,008,369