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Condensed consolidating financial information | 9 Months Ended
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Oct. 28, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Condensed consolidating financial information | Condensed consolidating financial information The accompanying condensed consolidating financial information has been prepared and presented pursuant to SEC Regulation S-X, Rule 3-10, “Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered.” We and certain of our subsidiaries have guaranteed the obligations under certain debt securities that have been issued by Signet UK Finance plc. The following presents the condensed consolidating financial information for: (i) the indirect Parent Company (Signet Jewelers Limited); (ii) the Issuer of the guaranteed obligations (Signet UK Finance plc); (iii) the Guarantor subsidiaries, on a combined basis; (iv) the non-guarantor subsidiaries, on a combined basis; (v) consolidating eliminations and (vi) Signet Jewelers Limited and Subsidiaries on a consolidated basis. Each Guarantor subsidiary is 100% owned by the Parent Company at the date of each balance sheet presented. The Guarantor subsidiaries, along with Signet Jewelers Limited, will fully and unconditionally guarantee the obligations of Signet UK Finance plc under any such debt securities. Each entity in the consolidating financial information follows the same accounting policies as described in the condensed consolidated financial statements. The accompanying condensed consolidating financial information has been presented on the equity method of accounting for all periods presented. Under this method, investments in subsidiaries are recorded at cost and adjusted for the subsidiaries’ cumulative results of operations, capital contributions and distributions and other changes in equity. Elimination entries include consolidating and eliminating entries for investments in subsidiaries, and intra-entity activity and balances. Condensed Consolidated Income Statement For the 13 weeks ended October 28, 2017 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | — |  |  | $ | 1,067.0 |  |  | $ | 89.9 |  |  | $ | — |  |  | $ | 1,156.9 |
Cost of sales | — |  |  | — |  |  | (799.9 | ) |  | (35.9 | ) |  | — |  |  | (835.8 | )
Gross margin | — |  |  | — |  |  | 267.1 |  |  | 54.0 |  |  | — |  |  | 321.1 |
Selling, general and administrative expenses | (0.6 | ) |  | — |  |  | (346.4 | ) |  | (28.9 | ) |  | — |  |  | (375.9 | )
Credit transaction, net | — |  |  | — |  |  | (12.2 | ) |  | — |  |  | — |  |  | (12.2 | )
Other operating income (loss), net | — |  |  | — |  |  | 72.7 |  |  | (0.2 | ) |  | — |  |  | 72.5 |
Operating (loss) income | (0.6 | ) |  | — |  |  | (18.8 | ) |  | 24.9 |  |  | — |  |  | 5.5 |
Intra-entity interest income (expense) | — |  |  | 4.7 |  |  | (47.0 | ) |  | 42.3 |  |  | — |  |  | — |
Interest expense, net | — |  |  | (5.1 | ) |  | (7.7 | ) |  | (3.8 | ) |  | — |  |  | (16.6 | )
(Loss) income before income taxes | (0.6 | ) |  | (0.4 | ) |  | (73.5 | ) |  | 63.4 |  |  | — |  |  | (11.1 | )
Income taxes | — |  |  | 0.1 |  |  | 28.3 |  |  | (21.2 | ) |  | — |  |  | 7.2 |
Equity in income of subsidiaries | (3.3 | ) |  | — |  |  | (71.5 | ) |  | (45.5 | ) |  | 120.3 |  |  | — |
Net (loss) income | $ | (3.9 | ) |  | $ | (0.3 | ) |  | $ | (116.7 | ) |  | $ | (3.3 | ) |  | $ | 120.3 |  |  | $ | (3.9 | )
Dividends on redeemable convertible preferred shares | (8.2 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (8.2 | )
Net (loss) income attributable to common shareholders | $ | (12.1 | ) |  | $ | (0.3 | ) |  | $ | (116.7 | ) |  | $ | (3.3 | ) |  | $ | 120.3 |  |  | $ | (12.1 | )
Condensed Consolidated Income Statement For the 13 weeks ended October 29, 2016 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | — |  |  | $ | 1,121.8 |  |  | $ | 64.4 |  |  | $ | — |  |  | $ | 1,186.2 |
Cost of sales | — |  |  | — |  |  | (821.7 | ) |  | (14.5 | ) |  | — |  |  | (836.2 | )
Gross margin | — |  |  | — |  |  | 300.1 |  |  | 49.9 |  |  | — |  |  | 350.0 |
Selling, general and administrative expenses | (0.3 | ) |  | — |  |  | (362.0 | ) |  | (24.2 | ) |  | — |  |  | (386.5 | )
Other operating income (loss), net | — |  |  | — |  |  | 75.6 |  |  | (7.0 | ) |  | — |  |  | 68.6 |
Operating (loss) income | (0.3 | ) |  | — |  |  | 13.7 |  |  | 18.7 |  |  | — |  |  | 32.1 |
Intra-entity interest income (expense) | — |  |  | 4.7 |  |  | (47.8 | ) |  | 43.1 |  |  | — |  |  | — |
Interest expense, net | — |  |  | (5.0 | ) |  | (4.5 | ) |  | (3.2 | ) |  | — |  |  | (12.7 | )
(Loss) income before income taxes | (0.3 | ) |  | (0.3 | ) |  | (38.6 | ) |  | 58.6 |  |  | — |  |  | 19.4 |
Income taxes | — |  |  | — |  |  | 15.1 |  |  | (17.5 | ) |  | — |  |  | (2.4 | )
Equity in income of subsidiaries | 17.3 |  |  | — |  |  | (51.9 | ) |  | (23.6 | ) |  | 58.2 |  |  | — |
Net income (loss) | $ | 17.0 |  |  | $ | (0.3 | ) |  | $ | (75.4 | ) |  | $ | 17.5 |  |  | $ | 58.2 |  |  | $ | 17.0 |
Dividends on redeemable convertible preferred shares | (2.2 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (2.2 | )
Net income (loss) attributable to common shareholders | $ | 14.8 |  |  | $ | (0.3 | ) |  | $ | (75.4 | ) |  | $ | 17.5 |  |  | $ | 58.2 |  |  | $ | 14.8 |
Condensed Consolidated Income Statement For the 39 weeks ended October 28, 2017 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | — |  |  | $ | 3,714.5 |  |  | $ | 245.4 |  |  | $ | — |  |  | $ | 3,959.9 |
Cost of sales | — |  |  | — |  |  | (2,623.1 | ) |  | (66.6 | ) |  | — |  |  | (2,689.7 | )
Gross margin | — |  |  | — |  |  | 1,091.4 |  |  | 178.8 |  |  | — |  |  | 1,270.2 |
Selling, general and administrative expenses | (1.0 | ) |  | — |  |  | (1,144.9 | ) |  | (91.8 | ) |  | — |  |  | (1,237.7 | )
Credit transaction, net | — |  |  | — |  |  | 2.6 |  |  | — |  |  | — |  |  | 2.6 |
Other operating income (loss), net | — |  |  | — |  |  | 221.6 |  |  | (0.3 | ) |  | — |  |  | 221.3 |
Operating (loss) income | (1.0 | ) |  | — |  |  | 170.7 |  |  | 86.7 |  |  | — |  |  | 256.4 |
Intra-entity interest income (expense) | — |  |  | 14.1 |  |  | (138.8 | ) |  | 124.7 |  |  | — |  |  | — |
Interest expense, net | — |  |  | (15.0 | ) |  | (16.5 | ) |  | (11.2 | ) |  | — |  |  | (42.7 | )
(Loss) income before income taxes | (1.0 | ) |  | (0.9 | ) |  | 15.4 |  |  | 200.2 |  |  | — |  |  | 213.7 |
Income taxes | — |  |  | 0.2 |  |  | (8.4 | ) |  | (37.5 | ) |  | — |  |  | (45.7 | )
Equity in income of subsidiaries | 169.0 |  |  | — |  |  | (41.2 | ) |  | 11.0 |  |  | (138.8 | ) |  | — |
Net income (loss) | $ | 168.0 |  |  | $ | (0.7 | ) |  | $ | (34.2 | ) |  | $ | 173.7 |  |  | $ | (138.8 | ) |  | $ | 168.0 |
Dividends on redeemable convertible preferred shares | (24.6 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (24.6 | )
Net income (loss) attributable to common shareholders | $ | 143.4 |  |  | $ | (0.7 | ) |  | $ | (34.2 | ) |  | $ | 173.7 |  |  | $ | (138.8 | ) |  | $ | 143.4 |
Condensed Consolidated Income Statement For the 39 weeks ended October 29, 2016 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | — |  |  | $ | 3,955.0 |  |  | $ | 183.5 |  |  | $ | — |  |  | $ | 4,138.5 |
Cost of sales | — |  |  | — |  |  | (2,688.0 | ) |  | (35.2 | ) |  | — |  |  | (2,723.2 | )
Gross margin | — |  |  | — |  |  | 1,267.0 |  |  | 148.3 |  |  | — |  |  | 1,415.3 |
Selling, general and administrative expenses | (0.9 | ) |  | — |  |  | (1,190.9 | ) |  | (73.1 | ) |  | — |  |  | (1,264.9 | )
Other operating income (loss), net | — |  |  | — |  |  | 227.6 |  |  | (14.0 | ) |  | — |  |  | 213.6 |
Operating (loss) income | (0.9 | ) |  | — |  |  | 303.7 |  |  | 61.2 |  |  | — |  |  | 364.0 |
Intra-entity interest income (expense) | — |  |  | 14.1 |  |  | (142.2 | ) |  | 128.1 |  |  | — |  |  | — |
Interest expense, net | — |  |  | (14.8 | ) |  | (12.1 | ) |  | (9.5 | ) |  | — |  |  | (36.4 | )
(Loss) income before income taxes | (0.9 | ) |  | (0.7 | ) |  | 149.4 |  |  | 179.8 |  |  | — |  |  | 327.6 |
Income taxes | — |  |  | 0.1 |  |  | (61.5 | ) |  | (20.5 | ) |  | — |  |  | (81.9 | )
Equity in income of subsidiaries | 246.6 |  |  | — |  |  | 48.8 |  |  | 93.1 |  |  | (388.5 | ) |  | — |
Net income (loss) | $ | 245.7 |  |  | $ | (0.6 | ) |  | $ | 136.7 |  |  | $ | 252.4 |  |  | $ | (388.5 | ) |  | $ | 245.7 |
Dividends on redeemable convertible preferred shares | (2.2 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (2.2 | )
Net income (loss) attributable to common shareholders | $ | 243.5 |  |  | $ | (0.6 | ) |  | $ | 136.7 |  |  | $ | 252.4 |  |  | $ | (388.5 | ) |  | $ | 243.5 |
Condensed Consolidated Statement of Comprehensive Income (Loss) For the 13 weeks ended October 28, 2017 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net (loss) income | $ | (3.9 | ) |  | $ | (0.3 | ) |  | $ | (116.7 | ) |  | $ | (3.3 | ) |  | $ | 120.3 |  |  | $ | (3.9 | )
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (6.5 | ) |  | — |  |  | (6.5 | ) |  | — |  |  | 6.5 |  |  | (6.5 | )
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |
Unrealized loss | (0.2 | ) |  | — |  |  | — |  |  | (0.2 | ) |  | 0.2 |  |  | (0.2 | )
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |
Unrealized gain | 0.9 |  |  | — |  |  | 0.9 |  |  | — |  |  | (0.9 | ) |  | 0.9 |
Reclassification adjustment for gains to net income | (0.6 | ) |  | — |  |  | (0.6 | ) |  | — |  |  | 0.6 |  |  | (0.6 | )
Pension plan: |  |  |  |  |  |  |  |  |  |  |
Actuarial loss | (0.9 | ) |  | — |  |  | (0.9 | ) |  | — |  |  | 0.9 |  |  | (0.9 | )
Reclassification adjustment to net income for amortization of actuarial losses | 0.6 |  |  | — |  |  | 0.6 |  |  | — |  |  | (0.6 | ) |  | 0.6 |
Reclassification adjustment to net income for amortization of net prior service credits | (0.4 | ) |  | — |  |  | (0.4 | ) |  | — |  |  | 0.4 |  |  | (0.4 | )
Net curtailment gain and settlement loss | (3.0 | ) |  | — |  |  | (3.0 | ) |  | — |  |  | 3.0 |  |  | (3.0 | )
Total other comprehensive (loss) income | (10.1 | ) |  | — |  |  | (9.9 | ) |  | (0.2 | ) |  | 10.1 |  |  | (10.1 | )
Total comprehensive (loss) income | $ | (14.0 | ) |  | $ | (0.3 | ) |  | $ | (126.6 | ) |  | $ | (3.5 | ) |  | $ | 130.4 |  |  | $ | (14.0 | )
Condensed Consolidated Statement of Comprehensive Income (Loss) For the 13 weeks ended October 29, 2016 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income (loss) | $ | 17.0 |  |  | $ | (0.3 | ) |  | $ | (75.4 | ) |  | $ | 17.5 |  |  | $ | 58.2 |  |  | $ | 17.0 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (28.9 | ) |  | — |  |  | (32.5 | ) |  | 3.6 |  |  | 28.9 |  |  | (28.9 | )
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |
Unrealized loss | (0.2 | ) |  | — |  |  | — |  |  | (0.2 | ) |  | 0.2 |  |  | (0.2 | )
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |
Unrealized gain | 1.9 |  |  | — |  |  | 1.9 |  |  | — |  |  | (1.9 | ) |  | 1.9 |
Reclassification adjustment for losses to net income | (0.1 | ) |  | — |  |  | (0.1 | ) |  | — |  |  | 0.1 |  |  | (0.1 | )
Pension plan: |  |  |  |  |  |  |  |  |  |  |
Reclassification adjustment to net income for amortization of actuarial losses | 0.4 |  |  | — |  |  | 0.4 |  |  | — |  |  | (0.4 | ) |  | 0.4 |
Reclassification adjustment to net income for amortization of net prior service credits | (0.4 | ) |  | — |  |  | (0.4 | ) |  | — |  |  | 0.4 |  |  | (0.4 | )
Total other comprehensive (loss) income | (27.3 | ) |  | — |  |  | (30.7 | ) |  | 3.4 |  |  | 27.3 |  |  | (27.3 | )
Total comprehensive (loss) income | $ | (10.3 | ) |  | $ | (0.3 | ) |  | $ | (106.1 | ) |  | $ | 20.9 |  |  | $ | 85.5 |  |  | $ | (10.3 | )
Condensed Consolidated Statement of Comprehensive Income (Loss) For the 39 weeks ended October 28, 2017 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income (loss) | $ | 168.0 |  |  | $ | (0.7 | ) |  | $ | (34.2 | ) |  | $ | 173.7 |  |  | $ | (138.8 | ) |  | $ | 168.0 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | 18.6 |  |  | — |  |  | 18.6 |  |  | — |  |  | (18.6 | ) |  | 18.6 |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |
Unrealized gain | 0.3 |  |  | — |  |  | — |  |  | 0.3 |  |  | (0.3 | ) |  | 0.3 |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |
Unrealized gain | 2.7 |  |  | — |  |  | 2.7 |  |  | — |  |  | (2.7 | ) |  | 2.7 |
Reclassification adjustment for gains to net income | (3.1 | ) |  | — |  |  | (3.1 | ) |  | — |  |  | 3.1 |  |  | (3.1 | )
Pension plan: |  |  |  |  |  |  |  |  |  |  |
Actuarial loss | (0.9 | ) |  | — |  |  | (0.9 | ) |  | — |  |  | 0.9 |  |  | (0.9 | )
Reclassification adjustment to net income for amortization of actuarial losses | 1.8 |  |  | — |  |  | 1.8 |  |  | — |  |  | (1.8 | ) |  | 1.8 |
Reclassification adjustment to net income for amortization of net prior service credits | (1.1 | ) |  | — |  |  | (1.1 | ) |  | — |  |  | 1.1 |  |  | (1.1 | )
Net curtailment gain and settlement loss | (3.0 | ) |  | — |  |  | (3.0 | ) |  |  |  | 3.0 |  |  | (3.0 | )
Total other comprehensive income | 15.3 |  |  | — |  |  | 15.0 |  |  | 0.3 |  |  | (15.3 | ) |  | 15.3 |
Total comprehensive income (loss) | $ | 183.3 |  |  | $ | (0.7 | ) |  | $ | (19.2 | ) |  | $ | 174.0 |  |  | $ | (154.1 | ) |  | $ | 183.3 |
Condensed Consolidated Statement of Comprehensive Income (Loss) For the 39 weeks ended October 29, 2016 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income (loss) | $ | 245.7 |  |  | $ | (0.6 | ) |  | $ | 136.7 |  |  | $ | 252.4 |  |  | $ | (388.5 | ) |  | $ | 245.7 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (38.0 | ) |  | — |  |  | (45.2 | ) |  | 7.2 |  |  | 38.0 |  |  | (38.0 | )
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |
Unrealized gain | 0.2 |  |  | — |  |  | — |  |  | 0.2 |  |  | (0.2 | ) |  | 0.2 |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |
Unrealized gain | 8.2 |  |  | — |  |  | 8.2 |  |  | — |  |  | (8.2 | ) |  | 8.2 |
Reclassification adjustment for losses to net income | 1.6 |  |  | — |  |  | 1.6 |  |  | — |  |  | (1.6 | ) |  | 1.6 |
Pension plan: |  |  |  |  |  |  |  |  |  |  |
Reclassification adjustment to net income for amortization of actuarial losses | 1.0 |  |  | — |  |  | 1.0 |  |  | — |  |  | (1.0 | ) |  | 1.0 |
Reclassification adjustment to net income for amortization of net prior service credits | (1.2 | ) |  | — |  |  | (1.2 | ) |  | — |  |  | 1.2 |  |  | (1.2 | )
Total other comprehensive (loss) income | (28.2 | ) |  | — |  |  | (35.6 | ) |  | 7.4 |  |  | 28.2 |  |  | (28.2 | )
Total comprehensive income (loss) | $ | 217.5 |  |  | $ | (0.6 | ) |  | $ | 101.1 |  |  | $ | 259.8 |  |  | $ | (360.3 | ) |  | $ | 217.5 |
Condensed Consolidated Balance Sheet October 28, 2017 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 0.4 |  |  | $ | 0.1 |  |  | $ | 59.1 |  |  | $ | 53.8 |  |  | $ | — |  |  | $ | 113.4 |
Accounts receivable, net | — |  |  | — |  |  | 638.7 |  |  | 1.4 |  |  | — |  |  | 640.1 |
Intra-entity receivables, net | 85.6 |  |  | 7.6 |  |  | — |  |  | 262.1 |  |  | (355.3 | ) |  | — |
Other receivables | — |  |  | — |  |  | 55.6 |  |  | 24.7 |  |  | — |  |  | 80.3 |
Other current assets | — |  |  | — |  |  | 140.0 |  |  | 5.0 |  |  | — |  |  | 145.0 |
Income taxes | — |  |  | — |  |  | 17.3 |  |  | — |  |  | — |  |  | 17.3 |
Inventories | — |  |  | — |  |  | 2,392.6 |  |  | 73.5 |  |  | — |  |  | 2,466.1 |
Total current assets | 86.0 |  |  | 7.7 |  |  | 3,303.3 |  |  | 420.5 |  |  | (355.3 | ) |  | 3,462.2 |
Non-current assets: |  |  |  |  |  |  |  |  |  |  |
Property, plant and equipment, net | — |  |  | — |  |  | 847.5 |  |  | 7.6 |  |  | — |  |  | 855.1 |
Goodwill | — |  |  | — |  |  | 515.0 |  |  | 352.1 |  |  | — |  |  | 867.1 |
Intangible assets, net | — |  |  | — |  |  | 410.4 |  |  | — |  |  | — |  |  | 410.4 |
Investment in subsidiaries | 2,693.7 |  |  | — |  |  | 834.5 |  |  | 346.2 |  |  | (3,874.4 | ) |  | — |
Intra-entity receivables, net | — |  |  | 400.0 |  |  | — |  |  | 2,835.0 |  |  | (3,235.0 | ) |  | — |
Other assets | — |  |  | — |  |  | 136.9 |  |  | 32.2 |  |  | — |  |  | 169.1 |
Deferred tax assets | — |  |  | — |  |  | 1.2 |  |  | 0.1 |  |  | — |  |  | 1.3 |
Retirement benefit asset | — |  |  | — |  |  | 35.5 |  |  | — |  |  | — |  |  | 35.5 |
Total assets | $ | 2,779.7 |  |  | $ | 407.7 |  |  | $ | 6,084.3 |  |  | $ | 3,993.7 |  |  | $ | (7,464.7 | ) |  | $ | 5,800.7 |
Liabilities and Shareholders’ equity |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |
Loans and overdrafts | $ | — |  |  | $ | (0.7 | ) |  | $ | 292.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 291.8 |
Accounts payable | — |  |  | — |  |  | 291.0 |  |  | 33.9 |  |  | — |  |  | 324.9 |
Intra-entity payables, net | — |  |  | — |  |  | 355.3 |  |  | — |  |  | (355.3 | ) |  | — |
Accrued expenses and other current liabilities | 27.6 |  |  | 7.1 |  |  | 372.1 |  |  | 23.7 |  |  | — |  |  | 430.5 |
Deferred revenue | — |  |  | — |  |  | 259.6 |  |  | 10.7 |  |  | — |  |  | 270.3 |
Income taxes | — |  |  | (0.2 | ) |  | (24.3 | ) |  | 24.5 |  |  | — |  |  | — |
Total current liabilities | 27.6 |  |  | 6.2 |  |  | 1,546.2 |  |  | 92.8 |  |  | (355.3 | ) |  | 1,317.5 |
Non-current liabilities: |  |  |  |  |  |  |  |  |  |  |
Long-term debt | — |  |  | 395.0 |  |  | 301.8 |  |  | — |  |  | — |  |  | 696.8 |
Intra-entity payables, net | — |  |  | — |  |  | 3,235.0 |  |  | — |  |  | (3,235.0 | ) |  | — |
Other liabilities | — |  |  | — |  |  | 238.8 |  |  | 5.6 |  |  | — |  |  | 244.4 |
Deferred revenue | — |  |  | — |  |  | 646.1 |  |  | — |  |  | — |  |  | 646.1 |
Deferred tax liabilities | — |  |  | — |  |  | 143.6 |  |  | 0.2 |  |  | — |  |  | 143.8 |
Total liabilities | 27.6 |  |  | 401.2 |  |  | 6,111.5 |  |  | 98.6 |  |  | (3,590.3 | ) |  | 3,048.6 |
Series A redeemable convertible preferred shares | 613.1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 613.1 |
Total shareholders’ equity (deficit) | 2,139.0 |  |  | 6.5 |  |  | (27.2 | ) |  | 3,895.1 |  |  | (3,874.4 | ) |  | 2,139.0 |
Total liabilities, preferred shares and shareholders’ equity | $ | 2,779.7 |  |  | $ | 407.7 |  |  | $ | 6,084.3 |  |  | $ | 3,993.7 |  |  | $ | (7,464.7 | ) |  | $ | 5,800.7 |
Condensed Consolidated Balance Sheet January 28, 2017
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1.7 |  |  | $ | 0.1 |  |  | $ | 70.3 |  |  | $ | 26.6 |  |  | $ | — |  |  | $ | 98.7 |
Accounts receivable, net | — |  |  | — |  |  | 1,858.0 |  |  | — |  |  | — |  |  | 1,858.0 |
Intra-entity receivables, net | 12.7 |  |  | — |  |  | 145.1 |  |  | — |  |  | (157.8 | ) |  | — |
Other receivables | — |  |  | — |  |  | 71.1 |  |  | 24.8 |  |  | — |  |  | 95.9 |
Other current assets | — |  |  | — |  |  | 131.4 |  |  | 4.9 |  |  | — |  |  | 136.3 |
Income taxes | — |  |  | — |  |  | 4.4 |  |  | — |  |  | — |  |  | 4.4 |
Inventories | — |  |  | — |  |  | 2,371.8 |  |  | 77.5 |  |  | — |  |  | 2,449.3 |
Total current assets | 14.4 |  |  | 0.1 |  |  | 4,652.1 |  |  | 133.8 |  |  | (157.8 | ) |  | 4,642.6 |
Non-current assets: |  |  |  |  |  |  |  |  |  |  |
Property, plant and equipment, net | — |  |  | — |  |  | 818.5 |  |  | 4.4 |  |  | — |  |  | 822.9 |
Goodwill | — |  |  | — |  |  | 514.0 |  |  | 3.6 |  |  | — |  |  | 517.6 |
Intangible assets, net | — |  |  | — |  |  | 417.0 |  |  | — |  |  | — |  |  | 417.0 |
Investment in subsidiaries | 3,117.6 |  |  | — |  |  | 721.6 |  |  | 590.9 |  |  | (4,430.1 | ) |  | — |
Intra-entity receivables, net | — |  |  | 402.9 |  |  | — |  |  | 3,647.1 |  |  | (4,050.0 | ) |  | — |
Other assets | — |  |  | — |  |  | 134.8 |  |  | 30.3 |  |  | — |  |  | 165.1 |
Deferred tax assets | — |  |  | — |  |  | 0.6 |  |  | 0.1 |  |  | — |  |  | 0.7 |
Retirement benefit asset | — |  |  | — |  |  | 31.9 |  |  | — |  |  | — |  |  | 31.9 |
Total assets | $ | 3,132.0 |  |  | $ | 403.0 |  |  | $ | 7,290.5 |  |  | $ | 4,410.2 |  |  | $ | (8,637.9 | ) |  | $ | 6,597.8 |
Liabilities and Shareholders’ equity |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |
Loans and overdrafts | $ | — |  |  | $ | (0.7 | ) |  | $ | 91.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 91.1 |
Accounts payable | — |  |  | — |  |  | 248.2 |  |  | 7.5 |  |  | — |  |  | 255.7 |
Intra-entity payables, net | — |  |  | — |  |  | — |  |  | 157.8 |  |  | (157.8 | ) |  | — |
Accrued expenses and other current liabilities | 29.9 |  |  | 2.5 |  |  | 429.2 |  |  | 16.6 |  |  | — |  |  | 478.2 |
Deferred revenue | — |  |  | — |  |  | 275.5 |  |  | 1.4 |  |  | — |  |  | 276.9 |
Income taxes | — |  |  | (0.2 | ) |  | 115.5 |  |  | (13.5 | ) |  | — |  |  | 101.8 |
Total current liabilities | 29.9 |  |  | 1.6 |  |  | 1,160.2 |  |  | 169.8 |  |  | (157.8 | ) |  | 1,203.7 |
Non-current liabilities: |  |  |  |  |  |  |  |  |  |  |
Long-term debt | — |  |  | 394.3 |  |  | 323.6 |  |  | 600.0 |  |  | — |  |  | 1,317.9 |
Intra-entity payables, net | — |  |  | — |  |  | 4,050.0 |  |  | — |  |  | (4,050.0 | ) |  | — |
Other liabilities | — |  |  | — |  |  | 208.7 |  |  | 5.0 |  |  | — |  |  | 213.7 |
Deferred revenue | — |  |  | — |  |  | 659.0 |  |  | — |  |  | — |  |  | 659.0 |
Deferred tax liabilities | — |  |  | — |  |  | 101.4 |  |  | — |  |  | — |  |  | 101.4 |
Total liabilities | 29.9 |  |  | 395.9 |  |  | 6,502.9 |  |  | 774.8 |  |  | (4,207.8 | ) |  | 3,495.7 |
Series A redeemable convertible preferred shares | 611.9 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 611.9 |
Total shareholders’ equity | 2,490.2 |  |  | 7.1 |  |  | 787.6 |  |  | 3,635.4 |  |  | (4,430.1 | ) |  | 2,490.2 |
Total liabilities, preferred shares and shareholders’ equity | $ | 3,132.0 |  |  | $ | 403.0 |  |  | $ | 7,290.5 |  |  | $ | 4,410.2 |  |  | $ | (8,637.9 | ) |  | $ | 6,597.8 |
Condensed Consolidated Balance Sheet October 29, 2016 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |
Cash and cash equivalents | $ | 0.2 |  |  | $ | 0.1 |  |  | $ | 55.7 |  |  | $ | 26.7 |  |  | $ | — |  |  | $ | 82.7 |
Accounts receivable, net | — |  |  | — |  |  | 1,581.1 |  |  | — |  |  | — |  |  | 1,581.1 |
Intra-entity receivables, net | 50.4 |  |  | — |  |  | — |  |  | 278.9 |  |  | (329.3 | ) |  | — |
Other receivables | — |  |  | — |  |  | 52.0 |  |  | 22.2 |  |  | — |  |  | 74.2 |
Other current assets | — |  |  | — |  |  | 140.3 |  |  | 6.5 |  |  | — |  |  | 146.8 |
Income taxes | — |  |  | 0.1 |  |  | 35.6 |  |  | (14.9 | ) |  | — |  |  | 20.8 |
Inventories | — |  |  | — |  |  | 2,578.3 |  |  | 71.1 |  |  | — |  |  | 2,649.4 |
Total current assets | 50.6 |  |  | 0.2 |  |  | 4,443.0 |  |  | 390.5 |  |  | (329.3 | ) |  | 4,555.0 |
Non-current assets: |  |  |  |  |  |  |  |  |  |  |
Property, plant and equipment, net | — |  |  | — |  |  | 786.4 |  |  | 4.7 |  |  | — |  |  | 791.1 |
Goodwill | — |  |  | — |  |  | 513.4 |  |  | 3.6 |  |  | — |  |  | 517.0 |
Intangible assets, net | — |  |  | — |  |  | 419.8 |  |  | — |  |  | — |  |  | 419.8 |
Investment in subsidiaries | 2,812.5 |  |  | — |  |  | 586.7 |  |  | 474.4 |  |  | (3,873.6 | ) |  | — |
Intra-entity receivables, net | — |  |  | 407.6 |  |  | — |  |  | 3,647.4 |  |  | (4,055.0 | ) |  | — |
Other assets | — |  |  | — |  |  | 126.2 |  |  | 31.3 |  |  | — |  |  | 157.5 |
Deferred tax assets | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Retirement benefit asset | — |  |  | — |  |  | 47.1 |  |  | — |  |  | — |  |  | 47.1 |
Total assets | $ | 2,863.1 |  |  | $ | 407.8 |  |  | $ | 6,922.6 |  |  | $ | 4,551.9 |  |  | $ | (8,257.9 | ) |  | $ | 6,487.5 |
Liabilities and Shareholders’ equity |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |
Loans and overdrafts | $ | — |  |  | $ | (0.7 | ) |  | $ | 289.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 288.8 |
Accounts payable | — |  |  | — |  |  | 376.4 |  |  | 5.8 |  |  | — |  |  | 382.2 |
Intra-entity payables, net | — |  |  | — |  |  | 329.3 |  |  | — |  |  | (329.3 | ) |  | — |
Accrued expenses and other current liabilities | 20.2 |  |  | 7.1 |  |  | 360.1 |  |  | 15.5 |  |  | — |  |  | 402.9 |
Deferred revenue | — |  |  | — |  |  | 256.7 |  |  | — |  |  | — |  |  | 256.7 |
Income taxes | — |  |  | — |  |  | 3.9 |  |  | 0.5 |  |  | — |  |  | 4.4 |
Total current liabilities | 20.2 |  |  | 6.4 |  |  | 1,615.9 |  |  | 21.8 |  |  | (329.3 | ) |  | 1,335.0 |
Non-current liabilities: |  |  |  |  |  |  |  |  |  |  |
Long-term debt | — |  |  | 394.1 |  |  | 330.1 |  |  | 600.0 |  |  | — |  |  | 1,324.2 |
Intra-entity payables, net | — |  |  | — |  |  | 4,055.0 |  |  | — |  |  | (4,055.0 | ) |  | — |
Other liabilities | — |  |  | — |  |  | 213.7 |  |  | 6.2 |  |  | — |  |  | 219.9 |
Deferred revenue | — |  |  | — |  |  | 632.1 |  |  | — |  |  | — |  |  | 632.1 |
Deferred tax liabilities | — |  |  | — |  |  | 133.5 |  |  | (0.1 | ) |  | — |  |  | 133.4 |
Total liabilities | 20.2 |  |  | 400.5 |  |  | 6,980.3 |  |  | 627.9 |  |  | (4,384.3 | ) |  | 3,644.6 |
Series A redeemable convertible preferred shares | 611.7 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 611.7 |
Total shareholders’ equity (deficit) | 2,231.2 |  |  | 7.3 |  |  | (57.7 | ) |  | 3,924.0 |  |  | (3,873.6 | ) |  | 2,231.2 |
Total liabilities, preferred shares and shareholders’ equity | $ | 2,863.1 |  |  | $ | 407.8 |  |  | $ | 6,922.6 |  |  | $ | 4,551.9 |  |  | $ | (8,257.9 | ) |  | $ | 6,487.5 |
Condensed Consolidated Statement of Cash Flows For the 39 weeks ended October 28, 2017 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash provided by operating activities | $ | 617.1 |  |  | $ | 4.6 |  |  | $ | 1,467.2 |  |  | $ | 511.4 |  |  | $ | (1,118.0 | ) |  | $ | 1,482.3 |
Investing activities |  |  |  |  |  |  |  |  |  |  |
Purchase of property, plant and equipment | — |  |  | — |  |  | (165.7 | ) |  | (0.4 | ) |  | — |  |  | (166.1 | )
Purchase of available-for-sale securities | — |  |  | — |  |  | — |  |  | (1.7 | ) |  | — |  |  | (1.7 | )
Proceeds from available-for-sale securities | — |  |  | — |  |  | — |  |  | 0.9 |  |  | — |  |  | 0.9 |
Acquisition of R2Net Inc., net of cash acquired | — |  |  | — |  |  | (332.4 | ) |  | — |  |  | — |  |  | (332.4 | )
Net cash used in investing activities | — |  |  | — |  |  | (498.1 | ) |  | (1.2 | ) |  | — |  |  | (499.3 | )
Financing activities |  |  |  |  |  |  |  |  |  |  |
Dividends paid on common shares | (57.7 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (57.7 | )
Dividends paid on redeemable convertible preferred shares | (26.9 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (26.9 | )
Intra-entity dividends paid | — |  |  | — |  |  | (800.0 | ) |  | (318.0 | ) |  | 1,118.0 |  |  | — |
Proceeds from term and bridge loans | — |  |  | — |  |  | 350.0 |  |  | — |  |  | — |  |  | 350.0 |
Repayments of term and bridge loans | — |  |  | — |  |  | (365.7 | ) |  | — |  |  | — |  |  | (365.7 | )
Proceeds from securitization facility | — |  |  | — |  |  | — |  |  | 1,745.9 |  |  | — |  |  | 1,745.9 |
Repayments of securitization facility | — |  |  | — |  |  | — |  |  | (2,345.9 | ) |  | — |  |  | (2,345.9 | )
Proceeds from revolving credit facility | — |  |  | — |  |  | 605.0 |  |  | — |  |  | — |  |  | 605.0 |
Repayments of revolving credit facility | — |  |  | — |  |  | (405.0 | ) |  | — |  |  | — |  |  | (405.0 | )
Repurchase of common shares | (460.0 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (460.0 | )
Repayments of bank overdrafts | — |  |  | — |  |  | (5.9 | ) |  | — |  |  | — |  |  | (5.9 | )
Other financing activities | (3.1 | ) |  | — |  |  | (1.4 | ) |  | — |  |  | — |  |  | (4.5 | )
Intra-entity activity, net | (70.7 | ) |  | (4.6 | ) |  | (359.7 | ) |  | 435.0 |  |  | — |  |  | — |
Net cash used in financing activities | (618.4 | ) |  | (4.6 | ) |  | (982.7 | ) |  | (483.0 | ) |  | 1,118.0 |  |  | (970.7 | )
Cash and cash equivalents at beginning of period | 1.7 |  |  | 0.1 |  |  | 70.3 |  |  | 26.6 |  |  | — |  |  | 98.7 |
(Decrease) increase in cash and cash equivalents | (1.3 | ) |  | — |  |  | (13.6 | ) |  | 27.2 |  |  | — |  |  | 12.3 |
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | 2.4 |  |  | — |  |  | — |  |  | 2.4 |
Cash and cash equivalents at end of period | $ | 0.4 |  |  | $ | 0.1 |  |  | $ | 59.1 |  |  | $ | 53.8 |  |  | $ | — |  |  | $ | 113.4 |
Condensed Consolidated Statement of Cash Flows For the 39 weeks ended October 29, 2016 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash provided by operating activities | $ | 558.7 |  |  | $ | 4.9 |  |  | $ | 385.1 |  |  | $ | 391.4 |  |  | $ | (979.2 | ) |  | $ | 360.9 |
Investing activities |  |  |  |  |  |  |  |  |  |  |
Purchase of property, plant and equipment | — |  |  | — |  |  | (195.6 | ) |  | — |  |  | — |  |  | (195.6 | )
Investment in subsidiaries | (91.0 | ) |  | — |  |  | — |  |  | — |  |  | 91.0 |  |  | — |
Purchase of available-for-sale securities | — |  |  | — |  |  | — |  |  | (10.4 | ) |  | — |  |  | (10.4 | )
Proceeds from available-for-sale securities | — |  |  | — |  |  | — |  |  | 10.0 |  |  | — |  |  | 10.0 |
Net cash used in investing activities | (91.0 | ) |  | — |  |  | (195.6 | ) |  | (0.4 | ) |  | 91.0 |  |  | (196.0 | )
Financing activities |  |  |  |  |  |  |  |  |  |  |
Dividends paid on common shares | (57.5 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (57.5 | )
Dividends paid on redeemable convertible preferred shares | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Intra-entity dividends paid | — |  |  | — |  |  | (650.0 | ) |  | (329.2 | ) |  | 979.2 |  |  | — |
Proceeds from issuance of redeemable convertible preferred shares, net of issuance costs | 611.6 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 611.6 |
Repayments of term loan | — |  |  | — |  |  | (12.0 | ) |  | — |  |  | — |  |  | (12.0 | )
Proceeds from securitization facility | — |  |  | — |  |  | — |  |  | 1,837.1 |  |  | — |  |  | 1,837.1 |
Repayments of securitization facility | — |  |  | — |  |  | — |  |  | (1,837.1 | ) |  | — |  |  | (1,837.1 | )
Proceeds from revolving credit facility | — |  |  | — |  |  | 598.0 |  |  | — |  |  | — |  |  | 598.0 |
Repayments of revolving credit facility | — |  |  | — |  |  | (339.0 | ) |  | — |  |  | — |  |  | (339.0 | )
Repurchase of common shares | (1,000.0 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,000.0 | )
Repayments of bank overdrafts | — |  |  | — |  |  | (13.3 | ) |  | — |  |  | — |  |  | (13.3 | )
Other financing activities | (4.4 | ) |  | — |  |  | 90.0 |  |  | (0.6 | ) |  | (91.0 | ) |  | (6.0 | )
Intra-entity activity, net | (19.1 | ) |  | (4.9 | ) |  | 91.6 |  |  | (67.6 | ) |  | — |  |  | — |
Net cash used in financing activities | (469.4 | ) |  | (4.9 | ) |  | (234.7 | ) |  | (397.4 | ) |  | 888.2 |  |  | (218.2 | )
Cash and cash equivalents at beginning of period | 1.9 |  |  | 0.1 |  |  | 102.0 |  |  | 33.7 |  |  | — |  |  | 137.7 |
(Decrease) increase in cash and cash equivalents | (1.7 | ) |  | — |  |  | (45.2 | ) |  | (6.4 | ) |  | — |  |  | (53.3 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | (1.1 | ) |  | (0.6 | ) |  | — |  |  | (1.7 | )
Cash and cash equivalents at end of period | $ | 0.2 |  |  | $ | 0.1 |  |  | $ | 55.7 |  |  | $ | 26.7 |  |  | $ | — |  |  | $ | 82.7 |

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- Definition The entire disclosure for condensed financial statements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161450&loc=d3e5614-111684 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.10-01(a)) -URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699 + Details
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