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Revenue
3 Months Ended
Apr. 30, 2022
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The following table presents net sales by significant product category:
Three Months Ended
 April 30,
2022
May 1,
2021
Hardware and accessories (1)
$673.8 $703.5 
Software (2)
483.7 397.9 
Collectibles220.9 175.4 
Total$1,378.4 $1,276.8 
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(1)    Includes sales of new and pre-owned hardware, accessories, hardware bundles in which hardware and digital or physical software are sold together in a single SKU, interactive game figures, strategy guides, mobile and consumer electronics.
(2)    Includes sales of new and pre-owned gaming software, digital software, and PC entertainment software.
See Note 9, "Segment Information," for net sales by geographic location.
Performance Obligations
We have arrangements with customers where our performance obligations are satisfied over time, which primarily relate to extended warranties and our Game Informer® magazine. We expect to recognize revenue in future periods for remaining performance obligations we have associated with unredeemed gift cards, trade-in credits, reservation deposits and our PowerUp Rewards loyalty program (collectively, "unredeemed customer liabilities"), extended warranties and subscriptions to our Game Informer® magazine.
Performance obligations associated with unredeemed customer liabilities are primarily satisfied at the time customers redeem gift cards, trade-in credits, customer deposits or loyalty program points for products that we offer. Unredeemed customer liabilities are generally redeemed within one year of issuance.
We offer extended warranties on certain new and pre-owned products with terms generally ranging from 12 to 24 months, depending on the product. Revenues for extended warranties sold are recognized on a straight-line basis over the life of the contract.
Performance obligations associated with subscriptions to Game Informer® magazine are satisfied when periodic magazines are delivered in print form or made available in digital format.
The following table presents our performance obligations:
Three Months Ended
April 30,
2022
May 1,
2021
Unredeemed customer liabilities$201.3 $200.3 
Extended warranties84.7 81.0
Subscription44.0 41.3
Significant Judgments and Estimates
We accrue PowerUp Rewards loyalty points at the estimated retail price per point, net of estimated breakage, which can be redeemed by loyalty program members for products we offer. The estimated retail price per point is based on the actual historical retail prices of products purchased through the redemption of loyalty points. We estimate breakage of loyalty points and unredeemed gift cards based on historical redemption rates.
Contract Balances
Our contract liabilities primarily consist of unredeemed customer liabilities and deferred revenues associated with gift cards, extended warranties and subscriptions to Game Informer® magazine.
The following table presents a rollforward of our contract liabilities:
April 30,
2022
May 1,
2021
Contract liability beginning balance$378.3 $348.2 
Increase to contract liabilities (1)
207.0 208.7 
Decrease to contract liabilities (2)
(253.5)(234.5)
Other adjustments (3)
(1.8)0.2 
Contract liability ending balance$330.0 $322.6 
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(1)    Includes issuances of gift cards, trade-in credits and loyalty points, new reservation deposits, new subscriptions to Game Informer® and extended warranties sold.
(2)    Includes redemptions of gift cards, trade-in credits, loyalty points and customer deposits and revenues recognized for Game Informer® and extended warranties. During the three months ended April 30, 2022, there were $27.3 million of gift cards redeemed that were outstanding as of January 29, 2022. During the three months ended May 1, 2021, there were $23.5 million of gift cards redeemed that were outstanding as of January 30, 2021.
(3)    Primarily includes foreign currency translation adjustments.