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Condensed consolidating financial information (Tables) | 9 Months Ended
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Nov. 03, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Condensed Income Statement | Condensed Consolidated Income Statement For the 13 weeks ended November 3, 2018 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | — |  |  | $ | 1,070.6 |  |  | $ | 121.1 |  |  | $ | — |  |  | $ | 1,191.7 |
Cost of sales | — |  |  | — |  |  | (758.0 | ) |  | (62.5 | ) |  | — |  |  | (820.5 | )
Gross margin | — |  |  | — |  |  | 312.6 |  |  | 58.6 |  |  | — |  |  | 371.2 |
Selling, general and administrative expenses | (0.2 | ) |  | — |  |  | (378.3 | ) |  | (31.8 | ) |  | — |  |  | (410.3 | )
Credit transaction, net | — |  |  | — |  |  | (0.4 | ) |  | — |  |  | — |  |  | (0.4 | )
Restructuring charges | — |  |  | — |  |  | (9.2 | ) |  | (0.3 | ) |  | — |  |  | (9.5 | )
Other operating income (loss), net | — |  |  | — |  |  | 0.3 |  |  | (0.1 | ) |  | — |  |  | 0.2 |
Operating income (loss) | (0.2 | ) |  | — |  |  | (75.0 | ) |  | 26.4 |  |  | — |  |  | (48.8 | )
Intra-entity interest income (expense) | (1.0 | ) |  | 4.7 |  |  | (44.9 | ) |  | 41.2 |  |  | — |  |  | — |
Interest expense, net | — |  |  | (5.1 | ) |  | (5.6 | ) |  | 0.1 |  |  | — |  |  | (10.6 | )
Other non-operating income | — |  |  | — |  |  | 0.3 |  |  | — |  |  | — |  |  | 0.3 |
Income (loss) before income taxes | (1.2 | ) |  | (0.4 | ) |  | (125.2 | ) |  | 67.7 |  |  | — |  |  | (59.1 | )
Income taxes | — |  |  | 0.1 |  |  | 53.1 |  |  | (24.0 | ) |  | — |  |  | 29.2 |
Equity in income (loss) of subsidiaries | (28.7 | ) |  | — |  |  | (92.8 | ) |  | (68.4 | ) |  | 189.9 |  |  | — |
Net income (loss) | $ | (29.9 | ) |  | $ | (0.3 | ) |  | $ | (164.9 | ) |  | $ | (24.7 | ) |  | $ | 189.9 |  |  | $ | (29.9 | )
Dividends on redeemable convertible preferred shares | (8.2 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (8.2 | )
Net income (loss) attributable to common shareholders | $ | (38.1 | ) |  | $ | (0.3 | ) |  | $ | (164.9 | ) |  | $ | (24.7 | ) |  | $ | 189.9 |  |  | $ | (38.1 | )
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 income (loss) | (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 (loss) of subsidiaries | (3.3 | ) |  | — |  |  | (71.5 | ) |  | (45.5 | ) |  | 120.3 |  |  | — |
Net income (loss) | $ | (3.9 | ) |  | $ | (0.3 | ) |  | $ | (116.7 | ) |  | $ | (3.3 | ) |  | $ | 120.3 |  |  | $ | (3.9 | )
Dividends on redeemable convertible preferred shares | (8.2 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (8.2 | )
Net income (loss) attributable to common shareholders | $ | (12.1 | ) |  | $ | (0.3 | ) |  | $ | (116.7 | ) |  | $ | (3.3 | ) |  | $ | 120.3 |  |  | $ | (12.1 | )
Condensed Consolidated Income Statement For the 39 weeks ended November 3, 2018 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | — |  |  | $ | 3,723.4 |  |  | $ | 369.0 |  |  | $ | — |  |  | $ | 4,092.4 |
Cost of sales | — |  |  | — |  |  | (2,561.6 | ) |  | (184.6 | ) |  | — |  |  | (2,746.2 | )
Restructuring charges - cost of sales | — |  |  | — |  |  | (57.5 | ) |  | (5.7 | ) |  | — |  |  | (63.2 | )
Gross margin | — |  |  | — |  |  | 1,104.3 |  |  | 178.7 |  |  | — |  |  | 1,283.0 |
Selling, general and administrative expenses | (0.7 | ) |  | — |  |  | (1,230.4 | ) |  | (106.8 | ) |  | — |  |  | (1,337.9 | )
Credit transaction, net | — |  |  | — |  |  | (167.4 | ) |  | — |  |  | — |  |  | (167.4 | )
Restructuring charges | — |  |  | — |  |  | (34.3 | ) |  | (1.3 | ) |  | — |  |  | (35.6 | )
Goodwill and intangible impairments | — |  |  | — |  |  | (448.7 | ) |  | — |  |  | — |  |  | (448.7 | )
Other operating income (loss), net | (0.1 | ) |  | — |  |  | 21.8 |  |  | 3.8 |  |  | — |  |  | 25.5 |
Operating income (loss) | (0.8 | ) |  | — |  |  | (754.7 | ) |  | 74.4 |  |  | — |  |  | (681.1 | )
Intra-entity interest income (expense) | (3.4 | ) |  | 14.1 |  |  | (198.8 | ) |  | 188.1 |  |  | — |  |  | — |
Interest expense, net | — |  |  | (14.9 | ) |  | (14.2 | ) |  | 0.2 |  |  | — |  |  | (28.9 | )
Other non-operating income | — |  |  | — |  |  | 1.4 |  |  | — |  |  | — |  |  | 1.4 |
(Loss) income before income taxes | (4.2 | ) |  | (0.8 | ) |  | (966.3 | ) |  | 262.7 |  |  | — |  |  | (708.6 | )
Income taxes | — |  |  | 0.2 |  |  | 157.6 |  |  | 1.3 |  |  | — |  |  | 159.1 |
Equity in income (loss) of subsidiaries | (545.3 | ) |  | — |  |  | (865.7 | ) |  | (857.3 | ) |  | 2,268.3 |  |  | — |
Net income (loss) | $ | (549.5 | ) |  | $ | (0.6 | ) |  | $ | (1,674.4 | ) |  | $ | (593.3 | ) |  | $ | 2,268.3 |  |  | $ | (549.5 | )
Dividends on redeemable convertible preferred shares | (24.6 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (24.6 | )
Net income (loss) attributable to common shareholders | $ | (574.1 | ) |  | $ | (0.6 | ) |  | $ | (1,674.4 | ) |  | $ | (593.3 | ) |  | $ | 2,268.3 |  |  | $ | (574.1 | )
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 income (loss) | (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 (loss) 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 Statement of Comprehensive Income | Condensed Consolidated Statement of Comprehensive Income (Loss) For the 13 weeks ended November 3, 2018 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net (loss) income | $ | (29.9 | ) |  | $ | (0.3 | ) |  | $ | (164.9 | ) |  | $ | (24.7 | ) |  | $ | 189.9 |  |  | $ | (29.9 | )
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (2.5 | ) |  | — |  |  | (2.5 | ) |  | — |  |  | 2.5 |  |  | (2.5 | )
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |
Unrealized gain | 2.3 |  |  | — |  |  | 2.3 |  |  | — |  |  | (2.3 | ) |  | 2.3 |
Reclassification adjustment for gains to net income | (0.5 | ) |  | — |  |  | (0.5 | ) |  | — |  |  | 0.5 |  |  | (0.5 | )
Pension plan: |  |  |  |  |  |  |  |  |  |  |
Reclassification adjustment to net income for amortization of actuarial losses | 0.2 |  |  | — |  |  | 0.2 |  |  | — |  |  | (0.2 | ) |  | 0.2 |
Total other comprehensive (loss) income | (0.5 | ) |  | — |  |  | (0.5 | ) |  | — |  |  | 0.5 |  |  | (0.5 | )
Total comprehensive (loss) income | $ | (30.4 | ) |  | $ | (0.3 | ) |  | $ | (165.4 | ) |  | $ | (24.7 | ) |  | $ | 190.4 |  |  | $ | (30.4 | )
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 income (loss) | $ | (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 income | (10.1 | ) |  | — |  |  | (9.9 | ) |  | (0.2 | ) |  | 10.1 |  |  | (10.1 | )
Total comprehensive income (loss) | $ | (14.0 | ) |  | $ | (0.3 | ) |  | $ | (126.6 | ) |  | $ | (3.5 | ) |  | $ | 130.4 |  |  | $ | (14.0 | )
Condensed Consolidated Statement of Comprehensive Income (Loss) For the 39 weeks ended November 3, 2018 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income (loss) | $ | (549.5 | ) |  | $ | (0.6 | ) |  | $ | (1,674.4 | ) |  | $ | (593.3 | ) |  | $ | 2,268.3 |  |  | $ | (549.5 | )
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (39.5 | ) |  | — |  |  | (39.0 | ) |  | (0.5 | ) |  | 39.5 |  |  | (39.5 | )
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |
Unrealized gain(1) | 0.3 |  |  | — |  |  | — |  |  | 0.3 |  |  | (0.3 | ) |  | 0.3 |
Impact from adoption of new accounting pronouncements(2) | (0.8 | ) |  | — |  |  | — |  |  | (0.8 | ) |  | 0.8 |  |  | (0.8 | )
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |
Unrealized gain | 0.8 |  |  | — |  |  | 0.8 |  |  | — |  |  | (0.8 | ) |  | 0.8 |
Reclassification adjustment for gains to net income | (1.0 | ) |  | — |  |  | (1.0 | ) |  | — |  |  | 1.0 |  |  | (1.0 | )
Pension plan: |  |  |  |  |  |  |  |  |  |  |
Actuarial loss | (6.5 | ) |  | — |  |  | (6.5 | ) |  | — |  |  | 6.5 |  |  | (6.5 | )
Reclassification adjustment to net income for amortization of actuarial losses | 0.5 |  |  | — |  |  | 0.5 |  |  | — |  |  | (0.5 | ) |  | 0.5 |
Total other comprehensive income (loss) | (46.2 | ) |  | — |  |  | (45.2 | ) |  | (1.0 | ) |  | 46.2 |  |  | (46.2 | )
Total comprehensive income (loss) | $ | (595.7 | ) |  | $ | (0.6 | ) |  | $ | (1,719.6 | ) |  | $ | (594.3 | ) |  | $ | 2,314.5 |  |  | $ | (595.7 | )
(1) | During the 39 weeks ended November 3, 2018, amount represents unrealized losses related to the Company’s available-for-sale debt securities. During the 39 weeks ended October 28, 2017, amount represents unrealized gains related to the Company’s available-for-sale debt and equity securities.
(2) | Adjustment reflects the reclassification of unrealized gains related to the Company’s equity security investments as of February 3, 2018 from AOCI into retained earnings associated with the adoption of ASU 2016-1.
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 Balance Sheet | Condensed Consolidated Balance Sheet November 3, 2018 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 0.5 |  |  | $ | 0.1 |  |  | $ | 67.5 |  |  | $ | 62.6 |  |  | $ | — |  |  | $ | 130.7 |
Accounts receivable, held for sale | — |  |  | — |  |  | 4.8 |  |  | — |  |  | — |  |  | 4.8 |
Accounts receivable, net | — |  |  | — |  |  | 6.9 |  |  | 2.4 |  |  | — |  |  | 9.3 |
Intra-entity receivables, net | — |  |  | 7.7 |  |  | — |  |  | 235.8 |  |  | (243.5 | ) |  | — |
Other receivables | — |  |  | — |  |  | 33.4 |  |  | 24.9 |  |  | — |  |  | 58.3 |
Other current assets | — |  |  | — |  |  | 158.1 |  |  | 1.8 |  |  | — |  |  | 159.9 |
Inventories | — |  |  | — |  |  | 2,568.6 |  |  | 78.5 |  |  | — |  |  | 2,647.1 |
Total current assets | 0.5 |  |  | 7.8 |  |  | 2,839.3 |  |  | 406.0 |  |  | (243.5 | ) |  | 3,010.1 |
Non-current assets: |  |  |  |  |  |  |  |  |  |  |
Property, plant and equipment, net | — |  |  | — |  |  | 801.7 |  |  | 8.7 |  |  | — |  |  | 810.4 |
Goodwill | — |  |  | — |  |  | 206.3 |  |  | 302.7 |  |  | — |  |  | 509.0 |
Intangible assets, net | — |  |  | — |  |  | 266.4 |  |  | 73.8 |  |  | — |  |  | 340.2 |
Investment in subsidiaries | 2,085.2 |  |  | — |  |  | 250.3 |  |  | (264.3 | ) |  | (2,071.2 | ) |  | — |
Intra-entity receivables, net | — |  |  | 400.0 |  |  | — |  |  | 2,593.0 |  |  | (2,993.0 | ) |  | — |
Other assets | — |  |  | — |  |  | 150.9 |  |  | 17.7 |  |  | — |  |  | 168.6 |
Deferred tax assets | — |  |  | — |  |  | 52.5 |  |  | (16.3 | ) |  | — |  |  | 36.2 |
Retirement benefit asset | — |  |  | — |  |  | 33.0 |  |  | — |  |  | — |  |  | 33.0 |
Total assets | $ | 2,085.7 |  |  | $ | 407.8 |  |  | $ | 4,600.4 |  |  | $ | 3,121.3 |  |  | $ | (5,307.7 | ) |  | $ | 4,907.5 |
Liabilities and Shareholders’ equity |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |
Loans and overdrafts | $ | — |  |  | $ | (0.7 | ) |  | $ | 323.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 322.6 |
Accounts payable | — |  |  | — |  |  | 310.5 |  |  | 29.1 |  |  | — |  |  | 339.6 |
Intra-entity payables, net | 94.4 |  |  | — |  |  | 149.1 |  |  | — |  |  | (243.5 | ) |  | — |
Accrued expenses and other current liabilities | 27.5 |  |  | 7.1 |  |  | 380.1 |  |  | 16.6 |  |  | — |  |  | 431.3 |
Deferred revenue | — |  |  | — |  |  | 243.3 |  |  | 9.8 |  |  | — |  |  | 253.1 |
Income taxes | — |  |  | — |  |  | — |  |  | 19.1 |  |  | — |  |  | 19.1 |
Total current liabilities | 121.9 |  |  | 6.4 |  |  | 1,406.3 |  |  | 74.6 |  |  | (243.5 | ) |  | 1,365.7 |
Non-current liabilities: |  |  |  |  |  |  |  |  |  |  |
Long-term debt | — |  |  | 395.8 |  |  | 264.6 |  |  | — |  |  | — |  |  | 660.4 |
Intra-entity payables, net | — |  |  | — |  |  | 2,993.0 |  |  | — |  |  | (2,993.0 | ) |  | — |
Other liabilities | — |  |  | — |  |  | 228.0 |  |  | 5.2 |  |  | — |  |  | 233.2 |
Deferred revenue | — |  |  | — |  |  | 671.7 |  |  | — |  |  | — |  |  | 671.7 |
Deferred tax liabilities | — |  |  | — |  |  | 12.6 |  |  | 0.1 |  |  | — |  |  | 12.7 |
Total liabilities | 121.9 |  |  | 402.2 |  |  | 5,576.2 |  |  | 79.9 |  |  | (3,236.5 | ) |  | 2,943.7 |
Series A redeemable convertible preferred shares | 614.8 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 614.8 |
Total shareholders’ equity (deficit) | 1,349.0 |  |  | 5.6 |  |  | (975.8 | ) |  | 3,041.4 |  |  | (2,071.2 | ) |  | 1,349.0 |
Total liabilities, redeemable convertible preferred shares and shareholders’ equity | $ | 2,085.7 |  |  | $ | 407.8 |  |  | $ | 4,600.4 |  |  | $ | 3,121.3 |  |  | $ | (5,307.7 | ) |  | $ | 4,907.5 |
Condensed Consolidated Balance Sheet February 3, 2018
(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 |  |  | $ | 150.5 |  |  | $ | 72.8 |  |  | $ | — |  |  | $ | 225.1 |
Accounts receivable, net | — |  |  | — |  |  | 692.5 |  |  | — |  |  | — |  |  | 692.5 |
Intra-entity receivables, net | — |  |  | 2.9 |  |  | — |  |  | 166.9 |  |  | (169.8 | ) |  | — |
Other receivables | — |  |  | — |  |  | 62.0 |  |  | 25.2 |  |  | — |  |  | 87.2 |
Other current assets | — |  |  | — |  |  | 154.4 |  |  | 3.8 |  |  | — |  |  | 158.2 |
Income taxes | — |  |  | — |  |  | 2.6 |  |  | — |  |  | — |  |  | 2.6 |
Inventories | — |  |  | — |  |  | 2,201.3 |  |  | 79.2 |  |  | — |  |  | 2,280.5 |
Total current assets | 1.7 |  |  | 3.0 |  |  | 3,263.3 |  |  | 347.9 |  |  | (169.8 | ) |  | 3,446.1 |
Non-current assets: |  |  |  |  |  |  |  |  |  |  |
Property, plant and equipment, net | — |  |  | — |  |  | 870.1 |  |  | 7.8 |  |  | — |  |  | 877.9 |
Goodwill | — |  |  | — |  |  | 516.4 |  |  | 305.3 |  |  | — |  |  | 821.7 |
Intangible assets, net | — |  |  | — |  |  | 410.9 |  |  | 70.6 |  |  | — |  |  | 481.5 |
Investment in subsidiaries | 3,150.2 |  |  | — |  |  | 1,163.6 |  |  | 606.0 |  |  | (4,919.8 | ) |  | — |
Intra-entity receivables, net | — |  |  | 400.0 |  |  | — |  |  | 2,859.0 |  |  | (3,259.0 | ) |  | — |
Other assets | — |  |  | — |  |  | 140.1 |  |  | 31.1 |  |  | — |  |  | 171.2 |
Deferred tax assets | — |  |  | — |  |  | 1.3 |  |  | 0.1 |  |  | — |  |  | 1.4 |
Retirement benefit asset | — |  |  | — |  |  | 39.8 |  |  | — |  |  | — |  |  | 39.8 |
Total assets | $ | 3,151.9 |  |  | $ | 403.0 |  |  | $ | 6,405.5 |  |  | $ | 4,227.8 |  |  | $ | (8,348.6 | ) |  | $ | 5,839.6 |
Liabilities and Shareholders’ equity |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |
Loans and overdrafts | $ | — |  |  | $ | (0.7 | ) |  | $ | 44.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 44.0 |
Accounts payable | — |  |  | — |  |  | 202.2 |  |  | 34.8 |  |  | — |  |  | 237.0 |
Intra-entity payables, net | 11.3 |  |  | — |  |  | 158.5 |  |  | — |  |  | (169.8 | ) |  | — |
Accrued expenses and other current liabilities | 27.2 |  |  | 2.4 |  |  | 397.5 |  |  | 20.9 |  |  | — |  |  | 448.0 |
Deferred revenue | — |  |  | — |  |  | 276.2 |  |  | 12.4 |  |  | — |  |  | 288.6 |
Income taxes | — |  |  | (0.2 | ) |  | 36.7 |  |  | (16.9 | ) |  | — |  |  | 19.6 |
Total current liabilities | 38.5 |  |  | 1.5 |  |  | 1,115.8 |  |  | 51.2 |  |  | (169.8 | ) |  | 1,037.2 |
Non-current liabilities: |  |  |  |  |  |  |  |  |  |  |
Long-term debt | — |  |  | 395.2 |  |  | 293.0 |  |  | — |  |  | — |  |  | 688.2 |
Intra-entity payables, net | — |  |  | — |  |  | 3,259.0 |  |  | — |  |  | (3,259.0 | ) |  | — |
Other liabilities | — |  |  | — |  |  | 233.0 |  |  | 6.6 |  |  | — |  |  | 239.6 |
Deferred revenue | — |  |  | — |  |  | 668.9 |  |  | — |  |  | — |  |  | 668.9 |
Deferred tax liabilities | — |  |  | — |  |  | 76.7 |  |  | 15.6 |  |  | — |  |  | 92.3 |
Total liabilities | 38.5 |  |  | 396.7 |  |  | 5,646.4 |  |  | 73.4 |  |  | (3,428.8 | ) |  | 2,726.2 |
Series A redeemable convertible preferred shares | 613.6 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 613.6 |
Total shareholders’ equity | 2,499.8 |  |  | 6.3 |  |  | 759.1 |  |  | 4,154.4 |  |  | (4,919.8 | ) |  | 2,499.8 |
Total liabilities, redeemable convertible preferred shares and shareholders’ equity | $ | 3,151.9 |  |  | $ | 403.0 |  |  | $ | 6,405.5 |  |  | $ | 4,227.8 |  |  | $ | (8,348.6 | ) |  | $ | 5,839.6 |
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, held for sale | — |  |  | — |  |  | 0.0 |  |  | — |  |  | — |  |  | — |
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, redeemable convertible preferred shares and shareholders’ equity | $ | 2,779.7 |  |  | $ | 407.7 |  |  | $ | 6,084.3 |  |  | $ | 3,993.7 |  |  | $ | (7,464.7 | ) |  | $ | 5,800.7 |
Condensed Cash Flow Statement | Condensed Consolidated Statement of Cash Flows For the 39 weeks ended November 3, 2018 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash provided by operating activities | $ | 466.6 |  |  | $ | 4.8 |  |  | $ | 61.2 |  |  | $ | 251.4 |  |  | $ | (470.5 | ) |  | $ | 313.5 |
Investing activities |  |  |  |  |  |  |  |  |  |  |
Purchase of property, plant and equipment | — |  |  | — |  |  | (91.1 | ) |  | (2.3 | ) |  | — |  |  | (93.4 | )
Proceeds from sale of assets | — |  |  | — |  |  | — |  |  | 5.5 |  |  | — |  |  | 5.5 |
Purchase of available-for-sale securities | — |  |  | — |  |  | — |  |  | (0.6 | ) |  | — |  |  | (0.6 | )
Proceeds from available-for-sale securities | — |  |  | — |  |  | — |  |  | 9.0 |  |  | — |  |  | 9.0 |
Net cash used in investing activities | — |  |  | — |  |  | (91.1 | ) |  | 11.6 |  |  | — |  |  | (79.5 | )
Financing activities |  |  |  |  |  |  |  |  |  |  |
Dividends paid on common shares | (59.8 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (59.8 | )
Dividends paid on redeemable convertible preferred shares | (23.4 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (23.4 | )
Intra-entity dividends paid | — |  |  | — |  |  | — |  |  | (470.5 | ) |  | 470.5 |  |  | — |
Repurchase of common shares | (485.0 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (485.0 | )
Repayments of term and bridge loans | — |  |  | — |  |  | (22.3 | ) |  | — |  |  | — |  |  | (22.3 | )
Proceeds from revolving credit facility | — |  |  | — |  |  | 698.0 |  |  | — |  |  | — |  |  | 698.0 |
Repayments of revolving credit facility | — |  |  | — |  |  | (416.0 | ) |  | — |  |  | — |  |  | (416.0 | )
Repayments of bank overdrafts | — |  |  | — |  |  | (10.1 | ) |  | — |  |  | — |  |  | (10.1 | )
Other financing activities | (2.1 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (2.1 | )
Intra-entity activity, net | 102.5 |  |  | (4.8 | ) |  | (295.3 | ) |  | 197.6 |  |  | — |  |  | — |
Net cash used in financing activities | (467.8 | ) |  | (4.8 | ) |  | (45.7 | ) |  | (272.9 | ) |  | 470.5 |  |  | (320.7 | )
Cash and cash equivalents at beginning of period | 1.7 |  |  | 0.1 |  |  | 150.5 |  |  | 72.8 |  |  | — |  |  | 225.1 |
(Decrease) increase in cash and cash equivalents | (1.2 | ) |  | — |  |  | (75.6 | ) |  | (9.9 | ) |  | — |  |  | (86.7 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | (7.4 | ) |  | (0.3 | ) |  | — |  |  | (7.7 | )
Cash and cash equivalents at end of period | $ | 0.5 |  |  | $ | 0.1 |  |  | $ | 67.5 |  |  | $ | 62.6 |  |  | $ | — |  |  | $ | 130.7 |
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 |  |  | — |
Repurchase of common shares | (460.0 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (460.0 | )
Proceeds from term and bridge loans | — |  |  | — |  |  | 350.0 |  |  | — |  |  | — |  |  | 350.0 |
Repayments of term loan | — |  |  | — |  |  | (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 | )
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) provided by 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 |

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