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Condensed consolidating financial information (Tables) | 6 Months Ended
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Aug. 03, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Condensed Income Statement | For the 13 weeks ended August 3, 2019 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | — |  |  | $ | 1,258.2 |  |  | $ | 106.2 |  |  | $ | — |  |  | $ | 1,364.4 |
Cost of sales | — |  |  | — |  |  | (831.7 | ) |  | (69.6 | ) |  | — |  |  | (901.3 | )
Restructuring charges - cost of sales | — |  |  | — |  |  | (1.7 | ) |  | (2.7 | ) |  | — |  |  | (4.4 | )
Gross margin | — |  |  | — |  |  | 424.8 |  |  | 33.9 |  |  | — |  |  | 458.7 |
Selling, general and administrative expenses | (0.2 | ) |  | — |  |  | (407.3 | ) |  | (3.9 | ) |  | — |  |  | (411.4 | )
Restructuring charges | — |  |  | — |  |  | (22.8 | ) |  | (0.6 | ) |  | — |  |  | (23.4 | )
Goodwill and intangible impairments | — |  |  | — |  |  | (35.2 | ) |  | (12.5 | ) |  | — |  |  | (47.7 | )
Other operating income (loss), net | — |  |  | — |  |  | 2.0 |  |  | (0.6 | ) |  | — |  |  | 1.4 |
Operating income (loss) | (0.2 | ) |  | — |  |  | (38.5 | ) |  | 16.3 |  |  | — |  |  | (22.4 | )
Intra-entity interest income (expense) | (0.5 | ) |  | 4.7 |  |  | (47.8 | ) |  | 43.6 |  |  | — |  |  | — |
Interest expense, net | — |  |  | (4.9 | ) |  | (5.2 | ) |  | — |  |  | — |  |  | (10.1 | )
Other non-operating income | — |  |  | — |  |  | 0.2 |  |  | — |  |  | — |  |  | 0.2 |
Income (loss) before income taxes | (0.7 | ) |  | (0.2 | ) |  | (91.3 | ) |  | 59.9 |  |  | — |  |  | (32.3 | )
Income taxes | — |  |  | — |  |  | 14.0 |  |  | (17.8 | ) |  | — |  |  | (3.8 | )
Equity in income (loss) of subsidiaries | (35.4 | ) |  | — |  |  | (102.7 | ) |  | (70.8 | ) |  | 208.9 |  |  | — |
Net income (loss) | $ | (36.1 | ) |  | $ | (0.2 | ) |  | $ | (180.0 | ) |  | $ | (28.7 | ) |  | $ | 208.9 |  |  | $ | (36.1 | )
Dividends on redeemable convertible preferred shares | (8.2 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (8.2 | )
Net income (loss) attributable to common shareholders | $ | (44.3 | ) |  | $ | (0.2 | ) |  | $ | (180.0 | ) |  | $ | (28.7 | ) |  | $ | 208.9 |  |  | $ | (44.3 | )
Condensed Consolidated Statement of Operations For the 13 weeks ended August 4, 2018 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | — |  |  | $ | 1,296.3 |  |  | $ | 123.8 |  |  | $ | — |  |  | $ | 1,420.1 |
Cost of sales | — |  |  | — |  |  | (867.3 | ) |  | (62.6 | ) |  | — |  |  | (929.9 | )
Restructuring charges - cost of sales | — |  |  | — |  |  | (57.5 | ) |  | (5.7 | ) |  | — |  |  | (63.2 | )
Gross margin | — |  |  | — |  |  | 371.5 |  |  | 55.5 |  |  | — |  |  | 427.0 |
Selling, general and administrative expenses | (0.4 | ) |  | — |  |  | (407.7 | ) |  | (36.7 | ) |  | — |  |  | (444.8 | )
Credit transaction, net | — |  |  | — |  |  | (23.9 | ) |  | — |  |  | — |  |  | (23.9 | )
Restructuring charges | — |  |  | — |  |  | (19.6 | ) |  | — |  |  | — |  |  | (19.6 | )
Other operating income (loss), net | — |  |  | — |  |  | (1.1 | ) |  | 4.3 |  |  | — |  |  | 3.2 |
Operating income (loss) | (0.4 | ) |  | — |  |  | (80.8 | ) |  | 23.1 |  |  | — |  |  | (58.1 | )
Intra-entity interest income (expense) | (1.7 | ) |  | 4.7 |  |  | (109.1 | ) |  | 106.1 |  |  | — |  |  | — |
Interest expense, net | — |  |  | (4.9 | ) |  | (4.6 | ) |  | 0.1 |  |  | — |  |  | (9.4 | )
Other non-operating income | — |  |  | — |  |  | 0.5 |  |  | — |  |  | — |  |  | 0.5 |
Income (loss) before income taxes | (2.1 | ) |  | (0.2 | ) |  | (194.0 | ) |  | 129.3 |  |  | — |  |  | (67.0 | )
Income taxes | — |  |  | 0.1 |  |  | 25.1 |  |  | 18.8 |  |  | — |  |  | 44.0 |
Equity in income (loss) of subsidiaries | (20.9 | ) |  | — |  |  | (207.8 | ) |  | (221.0 | ) |  | 449.7 |  |  | — |
Net income (loss) | $ | (23.0 | ) |  | $ | (0.1 | ) |  | $ | (376.7 | ) |  | $ | (72.9 | ) |  | $ | 449.7 |  |  | $ | (23.0 | )
Dividends on redeemable convertible preferred shares | (8.2 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (8.2 | )
Net income (loss) attributable to common shareholders | $ | (31.2 | ) |  | $ | (0.1 | ) |  | $ | (376.7 | ) |  | $ | (72.9 | ) |  | $ | 449.7 |  |  | $ | (31.2 | )
Condensed Consolidated Statement of Operations For the 26 weeks ended August 3, 2019 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | — |  |  | $ | 2,575.1 |  |  | $ | 221.0 |  |  | $ | — |  |  | $ | 2,796.1 |
Cost of sales | — |  |  | — |  |  | (1,685.7 | ) |  | (147.9 | ) |  | — |  |  | (1,833.6 | )
Restructuring charges - cost of sales | — |  |  | — |  |  | (1.7 | ) |  | (2.7 | ) |  | — |  |  | (4.4 | )
Gross margin | — |  |  | — |  |  | 887.7 |  |  | 70.4 |  |  | — |  |  | 958.1 |
Selling, general and administrative expenses | (0.2 | ) |  | — |  |  | (869.7 | ) |  | (16.7 | ) |  | — |  |  | (886.6 | )
Restructuring charges | — |  |  | — |  |  | (48.6 | ) |  | (1.6 | ) |  | — |  |  | (50.2 | )
Goodwill and intangible impairments | — |  |  | — |  |  | (35.2 | ) |  | (12.5 | ) |  | — |  |  | (47.7 | )
Other operating income (loss), net | — |  |  | — |  |  | 1.9 |  |  | (0.5 | ) |  | — |  |  | 1.4 |
Operating income (loss) | (0.2 | ) |  | — |  |  | (63.9 | ) |  | 39.1 |  |  | — |  |  | (25.0 | )
Intra-entity interest income (expense) | (1.2 | ) |  | 9.4 |  |  | (96.2 | ) |  | 88.0 |  |  | — |  |  | — |
Interest expense, net | — |  |  | (9.9 | ) |  | (9.5 | ) |  | 0.1 |  |  | — |  |  | (19.3 | )
Other non-operating income | — |  |  | — |  |  | 0.5 |  |  | — |  |  | — |  |  | 0.5 |
Income (loss) before income taxes | (1.4 | ) |  | (0.5 | ) |  | (169.1 | ) |  | 127.2 |  |  | — |  |  | (43.8 | )
Income taxes | — |  |  | 0.1 |  |  | 22.8 |  |  | (25.2 | ) |  | — |  |  | (2.3 | )
Equity in income (loss) of subsidiaries | (44.7 | ) |  | — |  |  | (182.4 | ) |  | (136.2 | ) |  | 363.3 |  |  | — |
Net income (loss) | $ | (46.1 | ) |  | $ | (0.4 | ) |  | $ | (328.7 | ) |  | $ | (34.2 | ) |  | $ | 363.3 |  |  | $ | (46.1 | )
Dividends on redeemable convertible preferred shares | (16.4 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (16.4 | )
Net income (loss) attributable to common shareholders | $ | (62.5 | ) |  | $ | (0.4 | ) |  | $ | (328.7 | ) |  | $ | (34.2 | ) |  | $ | 363.3 |  |  | $ | (62.5 | )
Condensed Consolidated Statement of Operations For the 26 weeks ended August 4, 2018 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | — |  |  | $ | 2,652.8 |  |  | $ | 247.9 |  |  | $ | — |  |  | $ | 2,900.7 |
Cost of sales | — |  |  | — |  |  | (1,803.6 | ) |  | (122.1 | ) |  | — |  |  | (1,925.7 | )
Restructuring charges - cost of sales | — |  |  | — |  |  | (57.5 | ) |  | (5.7 | ) |  | — |  |  | (63.2 | )
Gross margin | — |  |  | — |  |  | 791.7 |  |  | 120.1 |  |  | — |  |  | 911.8 |
Selling, general and administrative expenses | (0.5 | ) |  | — |  |  | (852.1 | ) |  | (75.0 | ) |  | — |  |  | (927.6 | )
Credit transaction, net | — |  |  | — |  |  | (167.0 | ) |  | — |  |  | — |  |  | (167.0 | )
Restructuring charges | — |  |  | — |  |  | (25.1 | ) |  | (1.0 | ) |  | — |  |  | (26.1 | )
Goodwill and intangible impairments | — |  |  | — |  |  | (448.7 | ) |  | — |  |  | — |  |  | (448.7 | )
Other operating income (loss), net | (0.1 | ) |  | — |  |  | 21.5 |  |  | 3.9 |  |  | — |  |  | 25.3 |
Operating income (loss) | (0.6 | ) |  | — |  |  | (679.7 | ) |  | 48.0 |  |  | — |  |  | (632.3 | )
Intra-entity interest income (expense) | (2.4 | ) |  | 9.4 |  |  | (153.9 | ) |  | 146.9 |  |  | — |  |  | — |
Interest expense, net | — |  |  | (9.8 | ) |  | (8.6 | ) |  | 0.1 |  |  | — |  |  | (18.3 | )
Other non-operating income | — |  |  | — |  |  | 1.1 |  |  | — |  |  | — |  |  | 1.1 |
Income (loss) before income taxes | (3.0 | ) |  | (0.4 | ) |  | (841.1 | ) |  | 195.0 |  |  | — |  |  | (649.5 | )
Income taxes | — |  |  | 0.1 |  |  | 104.5 |  |  | 25.3 |  |  | — |  |  | 129.9 |
Equity in income (loss) of subsidiaries | (516.6 | ) |  | — |  |  | (772.9 | ) |  | (788.9 | ) |  | 2,078.4 |  |  | — |
Net income (loss) | $ | (519.6 | ) |  | $ | (0.3 | ) |  | $ | (1,509.5 | ) |  | $ | (568.6 | ) |  | $ | 2,078.4 |  |  | $ | (519.6 | )
Dividends on redeemable convertible preferred shares | (16.4 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (16.4 | )
Net income (loss) attributable to common shareholders | $ | (536.0 | ) |  | $ | (0.3 | ) |  | $ | (1,509.5 | ) |  | $ | (568.6 | ) |  | $ | 2,078.4 |  |  | $ | (536.0 | )
Condensed Statement of Comprehensive Income | Condensed Consolidated Statement of Comprehensive Income (Loss) For the 13 weeks ended August 3, 2019 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income (loss) | $ | (36.1 | ) |  | $ | (0.2 | ) |  | $ | (180.0 | ) |  | $ | (28.7 | ) |  | $ | 208.9 |  |  | $ | (36.1 | )
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (24.0 | ) |  | — |  |  | (24.1 | ) |  | 0.1 |  |  | 24.0 |  |  | (24.0 | )
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |
Unrealized gain (loss) | (0.1 | ) |  | — |  |  | — |  |  | (0.1 | ) |  | 0.1 |  |  | (0.1 | )
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |
Unrealized gain (loss) | 9.4 |  |  | — |  |  | 9.4 |  |  | — |  |  | (9.4 | ) |  | 9.4 |
Pension plan: |  |  |  |  |  |  |  |  |  |  |
Reclassification adjustment to net income for amortization of actuarial losses | 0.3 |  |  | — |  |  | 0.3 |  |  | — |  |  | (0.3 | ) |  | 0.3 |
Total other comprehensive income (loss) | (14.4 | ) |  | — |  |  | (14.4 | ) |  | — |  |  | 14.4 |  |  | (14.4 | )
Total comprehensive income (loss) | $ | (50.5 | ) |  | $ | (0.2 | ) |  | $ | (194.4 | ) |  | $ | (28.7 | ) |  | $ | 223.3 |  |  | $ | (50.5 | )
Condensed Consolidated Statement of Comprehensive Income (Loss) For the 13 weeks ended August 4, 2018 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income (loss) | $ | (23.0 | ) |  | $ | (0.1 | ) |  | $ | (376.7 | ) |  | $ | (72.9 | ) |  | $ | 449.7 |  |  | $ | (23.0 | )
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (15.3 | ) |  | — |  |  | (15.0 | ) |  | (0.3 | ) |  | 15.3 |  |  | (15.3 | )
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |
Unrealized gain (loss) | 0.5 |  |  | — |  |  | — |  |  | 0.5 |  |  | (0.5 | ) |  | 0.5 |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |
Unrealized gain (loss) | (3.0 | ) |  | — |  |  | (3.0 | ) |  | — |  |  | 3.0 |  |  | (3.0 | )
Reclassification adjustment for gains to net income | (0.2 | ) |  | — |  |  | (0.2 | ) |  | — |  |  | 0.2 |  |  | (0.2 | )
Pension plan: |  |  |  |  |  |  |  |  |  |  |
Actuarial loss | (6.5 | ) |  | — |  |  | (6.5 | ) |  | — |  |  | 6.5 |  |  | (6.5 | )
Reclassification adjustment to net income for amortization of net prior service credits | 0.1 |  |  | — |  |  | 0.1 |  |  | — |  |  | (0.1 | ) |  | 0.1 |
Total other comprehensive income (loss) | (24.4 | ) |  | — |  |  | (24.6 | ) |  | 0.2 |  |  | 24.4 |  |  | (24.4 | )
Total comprehensive income (loss) | $ | (47.4 | ) |  | $ | (0.1 | ) |  | $ | (401.3 | ) |  | $ | (72.7 | ) |  | $ | 474.1 |  |  | $ | (47.4 | )
Condensed Consolidated Statement of Comprehensive Income (Loss) For the 26 weeks ended August 3, 2019 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income (loss) | $ | (46.1 | ) |  | $ | (0.4 | ) |  | $ | (328.7 | ) |  | $ | (34.2 | ) |  | $ | 363.3 |  |  | $ | (46.1 | )
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (26.0 | ) |  | — |  |  | (26.1 | ) |  | 0.1 |  |  | 26.0 |  |  | (26.0 | )
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |
Unrealized gain (loss) | 0.2 |  |  | — |  |  | — |  |  | 0.2 |  |  | (0.2 | ) |  | 0.2 |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |
Unrealized gain (loss) | 6.2 |  |  | — |  |  | 6.2 |  |  | — |  |  | (6.2 | ) |  | 6.2 |
Reclassification adjustment for gains to net income | (0.4 | ) |  | — |  |  | (0.4 | ) |  | — |  |  | 0.4 |  |  | (0.4 | )
Pension plan: |  |  |  |  |  |  |  |  |  |  |
Reclassification adjustment to net income for amortization of actuarial losses | 0.5 |  |  | — |  |  | 0.5 |  |  | — |  |  | (0.5 | ) |  | 0.5 |
Total other comprehensive income (loss) | (19.5 | ) |  | — |  |  | (19.8 | ) |  | 0.3 |  |  | 19.5 |  |  | (19.5 | )
Total comprehensive income (loss) | $ | (65.6 | ) |  | $ | (0.4 | ) |  | $ | (348.5 | ) |  | $ | (33.9 | ) |  | $ | 382.8 |  |  | $ | (65.6 | )
Condensed Consolidated Statement of Comprehensive Income (Loss) For the 26 weeks ended August 4, 2018 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income (loss) | $ | (519.6 | ) |  | $ | (0.3 | ) |  | $ | (1,509.5 | ) |  | $ | (568.6 | ) |  | $ | 2,078.4 |  |  | $ | (519.6 | )
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (37.0 | ) |  | — |  |  | (36.5 | ) |  | (0.5 | ) |  | 37.0 |  |  | (37.0 | )
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |
Unrealized gain (loss) | 0.3 |  |  | — |  |  | — |  |  | 0.3 |  |  | (0.3 | ) |  | 0.3 |
Impact from adoption of new accounting pronouncements(1) | (0.8 | ) |  | — |  |  | — |  |  | (0.8 | ) |  | 0.8 |  |  | (0.8 | )
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |
Unrealized gain (loss) | (1.5 | ) |  | — |  |  | (1.5 | ) |  | — |  |  | 1.5 |  |  | (1.5 | )
Reclassification adjustment for gains to net income | (0.5 | ) |  | — |  |  | (0.5 | ) |  | — |  |  | 0.5 |  |  | (0.5 | )
Pension plan: |  |  |  |  |  |  |  |  |  |  |
Actuarial loss | (6.5 | ) |  | — |  |  | (6.5 | ) |  | — |  |  | 6.5 |  |  | (6.5 | )
Reclassification adjustment to net income for amortization of actuarial losses | 0.3 |  |  | — |  |  | 0.3 |  |  | — |  |  | (0.3 | ) |  | 0.3 |
Total other comprehensive income (loss) | (45.7 | ) |  | — |  |  | (44.7 | ) |  | (1.0 | ) |  | 45.7 |  |  | (45.7 | )
Total comprehensive income (loss) | $ | (565.3 | ) |  | $ | (0.3 | ) |  | $ | (1,554.2 | ) |  | $ | (569.6 | ) |  | $ | 2,124.1 |  |  | $ | (565.3 | )
(1) | 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 Balance Sheet | Condensed Consolidated Balance Sheet August 3, 2019 (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 |  |  | $ | 207.3 |  |  | $ | 63.7 |  |  | $ | — |  |  | $ | 271.5 |
Accounts receivable | — |  |  | — |  |  | 10.0 |  |  | 11.8 |  |  | — |  |  | 21.8 |
Intra-entity receivables, net | — |  |  | 7.1 |  |  | 30.7 |  |  | 251.8 |  |  | (289.6 | ) |  | — |
Other current assets | — |  |  | — |  |  | 142.4 |  |  | 48.2 |  |  | — |  |  | 190.6 |
Income taxes | — |  |  | — |  |  | 2.6 |  |  | — |  |  | — |  |  | 2.6 |
Inventories | — |  |  | — |  |  | 2,186.4 |  |  | 85.7 |  |  | — |  |  | 2,272.1 |
Total current assets | 0.4 |  |  | 7.2 |  |  | 2,579.4 |  |  | 461.2 |  |  | (289.6 | ) |  | 2,758.6 |
Non-current assets: |  |  |  |  |  |  |  |  |  |  |
Property, plant and equipment, net | — |  |  | — |  |  | 740.2 |  |  | 10.0 |  |  | — |  |  | 750.2 |
Operating lease right-of-use assets | — |  |  | — |  |  | 1,721.8 |  |  | 7.5 |  |  | — |  |  | 1,729.3 |
Goodwill | — |  |  | — |  |  | 171.1 |  |  | 77.7 |  |  | — |  |  | 248.8 |
Intangible assets, net | — |  |  | — |  |  | 243.8 |  |  | 20.5 |  |  | — |  |  | 264.3 |
Investment in subsidiaries | 2,002.6 |  |  | — |  |  | (208.0 | ) |  | (453.5 | ) |  | (1,341.1 | ) |  | — |
Intra-entity receivables, net | — |  |  | 400.0 |  |  | — |  |  | 2,578.0 |  |  | (2,978.0 | ) |  | — |
Other assets | — |  |  | — |  |  | 166.1 |  |  | 28.6 |  |  | — |  |  | 194.7 |
Deferred tax assets | — |  |  | — |  |  | 23.3 |  |  | (3.6 | ) |  | — |  |  | 19.7 |
Total assets | $ | 2,003.0 |  |  | $ | 407.2 |  |  | $ | 5,437.7 |  |  | $ | 2,726.4 |  |  | $ | (4,608.7 | ) |  | $ | 5,965.6 |
Liabilities and Shareholders’ equity |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |
Loans and overdrafts | $ | — |  |  | $ | (0.7 | ) |  | $ | 54.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 54.2 |
Accounts payable | — |  |  | — |  |  | 158.9 |  |  | 65.2 |  |  | — |  |  | 224.1 |
Intra-entity payables, net | 270.1 |  |  | — |  |  | 19.5 |  |  | — |  |  | (289.6 | ) |  | — |
Accrued expenses and other current liabilities | 28.6 |  |  | 2.3 |  |  | 369.1 |  |  | 18.0 |  |  | — |  |  | 418.0 |
Deferred revenue | — |  |  | — |  |  | 253.1 |  |  | 12.3 |  |  | — |  |  | 265.4 |
Operating lease liabilities | — |  |  | — |  |  | 323.0 |  |  | 1.8 |  |  | — |  |  | 324.8 |
Income taxes | — |  |  | — |  |  | 0.5 |  |  | 24.6 |  |  | — |  |  | 25.1 |
Total current liabilities | 298.7 |  |  | 1.6 |  |  | 1,179.0 |  |  | 121.9 |  |  | (289.6 | ) |  | 1,311.6 |
Non-current liabilities: |  |  |  |  |  |  |  |  |  |  |
Long-term debt | — |  |  | 396.5 |  |  | 231.7 |  |  | — |  |  | — |  |  | 628.2 |
Intra-entity payables, net | — |  |  | — |  |  | 2,978.0 |  |  | — |  |  | (2,978.0 | ) |  | — |
Operating lease liabilities | — |  |  | — |  |  | 1,493.3 |  |  | 5.7 |  |  | — |  |  | 1,499.0 |
Other liabilities | — |  |  | — |  |  | 118.5 |  |  | 4.2 |  |  | — |  |  | 122.7 |
Deferred revenue | — |  |  | — |  |  | 699.8 |  |  | — |  |  | — |  |  | 699.8 |
Total liabilities | 298.7 |  |  | 398.1 |  |  | 6,700.3 |  |  | 131.8 |  |  | (3,267.6 | ) |  | 4,261.3 |
Series A redeemable convertible preferred shares | 616.1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 616.1 |
Total shareholders’ equity (deficit) | 1,088.2 |  |  | 9.1 |  |  | (1,262.6 | ) |  | 2,594.6 |  |  | (1,341.1 | ) |  | 1,088.2 |
Total liabilities, redeemable convertible preferred shares and shareholders’ equity | $ | 2,003.0 |  |  | $ | 407.2 |  |  | $ | 5,437.7 |  |  | $ | 2,726.4 |  |  | $ | (4,608.7 | ) |  | $ | 5,965.6 |
Condensed Consolidated Balance Sheet February 2, 2019
(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 |  |  | $ | 146.7 |  |  | $ | 48.4 |  |  | $ | — |  |  | $ | 195.4 |
Accounts receivable | — |  |  | — |  |  | 14.3 |  |  | 9.4 |  |  | — |  |  | 23.7 |
Intra-entity receivables, net | — |  |  | 7.9 |  |  | 83.4 |  |  | 220.0 |  |  | (311.3 | ) |  | — |
Other current assets | — |  |  | — |  |  | 215.9 |  |  | 28.1 |  |  | — |  |  | 244.0 |
Income taxes | — |  |  | — |  |  | 5.1 |  |  | 0.7 |  |  | — |  |  | 5.8 |
Inventories | — |  |  | — |  |  | 2,302.6 |  |  | 84.3 |  |  | — |  |  | 2,386.9 |
Total current assets | 0.2 |  |  | 8.0 |  |  | 2,768.0 |  |  | 390.9 |  |  | (311.3 | ) |  | 2,855.8 |
Non-current assets: |  |  |  |  |  |  |  |  |  |  |
Property, plant and equipment, net | — |  |  | — |  |  | 789.6 |  |  | 10.9 |  |  | — |  |  | 800.5 |
Goodwill | — |  |  | — |  |  | 206.3 |  |  | 90.3 |  |  | — |  |  | 296.6 |
Intangible assets, net | — |  |  | — |  |  | 244.0 |  |  | 21.0 |  |  | — |  |  | 265.0 |
Investment in subsidiaries | 2,155.7 |  |  | — |  |  | (15.7 | ) |  | (305.5 | ) |  | (1,834.5 | ) |  | — |
Intra-entity receivables, net | — |  |  | 400.0 |  |  | — |  |  | 2,588.0 |  |  | (2,988.0 | ) |  | — |
Other assets | — |  |  | — |  |  | 164.0 |  |  | 17.2 |  |  | — |  |  | 181.2 |
Deferred tax assets | — |  |  | — |  |  | 24.5 |  |  | (3.5 | ) |  | — |  |  | 21.0 |
Total assets | $ | 2,155.9 |  |  | $ | 408.0 |  |  | $ | 4,180.7 |  |  | $ | 2,809.3 |  |  | $ | (5,133.8 | ) |  | $ | 4,420.1 |
Liabilities and Shareholders’ equity |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |
Loans and overdrafts | $ | — |  |  | $ | (0.7 | ) |  | $ | 79.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 78.8 |
Accounts payable | — |  |  | — |  |  | 119.7 |  |  | 34.0 |  |  | — |  |  | 153.7 |
Intra-entity payables, net | 311.3 |  |  | — |  |  | — |  |  | — |  |  | (311.3 | ) |  | — |
Accrued expenses and other current liabilities | 27.7 |  |  | 2.4 |  |  | 450.4 |  |  | 22.3 |  |  | — |  |  | 502.8 |
Deferred revenue | — |  |  | — |  |  | 257.6 |  |  | 12.4 |  |  | — |  |  | 270.0 |
Income taxes | — |  |  | 0.8 |  |  | 26.4 |  |  | 0.5 |  |  | — |  |  | 27.7 |
Total current liabilities | 339.0 |  |  | 2.5 |  |  | 933.6 |  |  | 69.2 |  |  | (311.3 | ) |  | 1,033.0 |
Non-current liabilities: |  |  |  |  |  |  |  |  |  |  |
Long-term debt | — |  |  | 396.0 |  |  | 253.6 |  |  | — |  |  | — |  |  | 649.6 |
Intra-entity payables, net | — |  |  | — |  |  | 2,988.0 |  |  | — |  |  | (2,988.0 | ) |  | — |
Other liabilities | — |  |  | — |  |  | 219.4 |  |  | 4.7 |  |  | — |  |  | 224.1 |
Deferred revenue | — |  |  | — |  |  | 696.5 |  |  | — |  |  | — |  |  | 696.5 |
Deferred tax liabilities | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total liabilities | 339.0 |  |  | 398.5 |  |  | 5,091.1 |  |  | 73.9 |  |  | (3,299.3 | ) |  | 2,603.2 |
Series A redeemable convertible preferred shares | 615.3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 615.3 |
Total shareholders’ equity (deficit) | 1,201.6 |  |  | 9.5 |  |  | (910.4 | ) |  | 2,735.4 |  |  | (1,834.5 | ) |  | 1,201.6 |
Total liabilities, redeemable convertible preferred shares and shareholders’ equity | $ | 2,155.9 |  |  | $ | 408.0 |  |  | $ | 4,180.7 |  |  | $ | 2,809.3 |  |  | $ | (5,133.8 | ) |  | $ | 4,420.1 |
Condensed Consolidated Balance Sheet August 4, 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 | $ | 0.9 |  |  | $ | 0.1 |  |  | $ | 64.6 |  |  | $ | 68.5 |  |  | $ | — |  |  | $ | 134.1 |
Accounts receivable | — |  |  | — |  |  | 10.5 |  |  | 0.6 |  |  | — |  |  | 11.1 |
Intra-entity receivables, net | — |  |  | 3.1 |  |  | — |  |  | 178.3 |  |  | (181.4 | ) |  | — |
Other current assets | — |  |  | — |  |  | 211.8 |  |  | 27.5 |  |  | — |  |  | 239.3 |
Income taxes | — |  |  | — |  |  | 77.3 |  |  | 41.9 |  |  | — |  |  | 119.2 |
Inventories | — |  |  | — |  |  | 2,298.6 |  |  | 65.2 |  |  | — |  |  | 2,363.8 |
Total current assets | 0.9 |  |  | 3.2 |  |  | 2,662.8 |  |  | 382.0 |  |  | (181.4 | ) |  | 2,867.5 |
Non-current assets: |  |  |  |  |  |  |  |  |  |  |
Property, plant and equipment, net | — |  |  | — |  |  | 812.8 |  |  | 7.3 |  |  | — |  |  | 820.1 |
Goodwill | — |  |  | — |  |  | 206.3 |  |  | 302.7 |  |  | — |  |  | 509.0 |
Intangible assets, net | — |  |  | — |  |  | 267.3 |  |  | 74.0 |  |  | — |  |  | 341.3 |
Investment in subsidiaries | 2,107.2 |  |  | — |  |  | 335.9 |  |  | (243.3 | ) |  | (2,199.8 | ) |  | — |
Intra-entity receivables, net | — |  |  | 400.0 |  |  | — |  |  | 2,598.0 |  |  | (2,998.0 | ) |  | — |
Other assets | — |  |  | — |  |  | 182.5 |  |  | 18.2 |  |  | — |  |  | 200.7 |
Deferred tax assets | — |  |  | — |  |  | 2.1 |  |  | 0.1 |  |  | — |  |  | 2.2 |
Total assets | $ | 2,108.1 |  |  | $ | 403.2 |  |  | $ | 4,469.7 |  |  | $ | 3,139.0 |  |  | $ | (5,379.2 | ) |  | $ | 4,740.8 |
Liabilities and Shareholders’ equity |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |
Loans and overdrafts | $ | — |  |  | $ | (0.7 | ) |  | $ | 112.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 111.4 |
Accounts payable | — |  |  | — |  |  | 206.6 |  |  | 30.1 |  |  | — |  |  | 236.7 |
Intra-entity payables, net | 66.0 |  |  | — |  |  | 115.4 |  |  | — |  |  | (181.4 | ) |  | — |
Accrued expenses and other current liabilities | 27.6 |  |  | 2.4 |  |  | 394.2 |  |  | 16.2 |  |  | — |  |  | 440.4 |
Deferred revenue | — |  |  | — |  |  | 263.9 |  |  | 12.4 |  |  | — |  |  | 276.3 |
Total current liabilities | 93.6 |  |  | 1.7 |  |  | 1,092.2 |  |  | 58.7 |  |  | (181.4 | ) |  | 1,064.8 |
Non-current liabilities: |  |  |  |  |  |  |  |  |  |  |
Long-term debt | — |  |  | 395.6 |  |  | 275.5 |  |  | — |  |  | — |  |  | 671.1 |
Intra-entity payables, net | — |  |  | — |  |  | 2,998.0 |  |  | — |  |  | (2,998.0 | ) |  | — |
Other liabilities | — |  |  | — |  |  | 230.8 |  |  | 5.3 |  |  | — |  |  | 236.1 |
Deferred revenue | — |  |  | — |  |  | 663.3 |  |  | — |  |  | — |  |  | 663.3 |
Deferred tax liabilities | — |  |  | — |  |  | 74.6 |  |  | 16.4 |  |  | — |  |  | 91.0 |
Total liabilities | 93.6 |  |  | 397.3 |  |  | 5,334.4 |  |  | 80.4 |  |  | (3,179.4 | ) |  | 2,726.3 |
Series A redeemable convertible preferred shares | 614.4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 614.4 |
Total shareholders’ equity (deficit) | 1,400.1 |  |  | 5.9 |  |  | (864.7 | ) |  | 3,058.6 |  |  | (2,199.8 | ) |  | 1,400.1 |
Total liabilities, redeemable convertible preferred shares and shareholders’ equity | $ | 2,108.1 |  |  | $ | 403.2 |  |  | $ | 4,469.7 |  |  | $ | 3,139.0 |  |  | $ | (5,379.2 | ) |  | $ | 4,740.8 |
Condensed Cash Flow Statement | Condensed Consolidated Statement of Cash Flows For the 26 weeks ended August 3, 2019 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash provided by (used in) operating activities | $ | 95.4 |  |  | $ | (0.8 | ) |  | $ | 99.0 |  |  | $ | 149.5 |  |  | $ | (96.5 | ) |  | $ | 246.6 |
Investing activities |  |  |  |  |  |  |  |  |  |  |
Purchase of property, plant and equipment | — |  |  | — |  |  | (52.2 | ) |  | — |  |  | — |  |  | (52.2 | )
Purchase of available-for-sale securities | — |  |  | — |  |  | — |  |  | (11.7 | ) |  | — |  |  | (11.7 | )
Proceeds from available-for-sale securities | — |  |  | — |  |  | — |  |  | 0.5 |  |  | — |  |  | 0.5 |
Net cash provided by (used in) investing activities | — |  |  | — |  |  | (52.2 | ) |  | (11.2 | ) |  | — |  |  | (63.4 | )
Financing activities |  |  |  |  |  |  |  |  |  |  |
Dividends paid on common shares | (38.5 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (38.5 | )
Dividends paid on redeemable convertible preferred shares | (15.6 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (15.6 | )
Intra-entity dividends paid | — |  |  | — |  |  | — |  |  | (96.5 | ) |  | 96.5 |  |  | — |
Repayments of term and bridge loans | — |  |  | — |  |  | (17.9 | ) |  | — |  |  | — |  |  | (17.9 | )
Repayments of bank overdrafts | — |  |  | — |  |  | (29.1 | ) |  | — |  |  | — |  |  | (29.1 | )
Other financing activities | (0.6 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (0.6 | )
Intra-entity activity, net | (40.5 | ) |  | 0.8 |  |  | 65.9 |  |  | (26.2 | ) |  | — |  |  | — |
Net cash provided by (used in) financing activities | (95.2 | ) |  | 0.8 |  |  | 18.9 |  |  | (122.7 | ) |  | 96.5 |  |  | (101.7 | )
Cash and cash equivalents at beginning of period | 0.2 |  |  | 0.1 |  |  | 146.7 |  |  | 48.4 |  |  | — |  |  | 195.4 |
Increase (decrease) in cash and cash equivalents | 0.2 |  |  | — |  |  | 65.7 |  |  | 15.6 |  |  | — |  |  | 81.5 |
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | (5.1 | ) |  | (0.3 | ) |  | — |  |  | (5.4 | )
Cash and cash equivalents at end of period | $ | 0.4 |  |  | $ | 0.1 |  |  | $ | 207.3 |  |  | $ | 63.7 |  |  | $ | — |  |  | $ | 271.5 |
Condensed Consolidated Statement of Cash Flows For the 26 weeks ended August 4, 2018 (Unaudited)
(in millions) | Signet Jewelers Limited |  | Signet UK Finance plc |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash provided by (used in) operating activities | $ | 467.5 |  |  | $ | 0.2 |  |  | $ | 227.7 |  |  | $ | 227.7 |  |  | $ | (470.5 | ) |  | $ | 452.6 |
Investing activities |  |  |  |  |  |  |  |  |  |  |
Purchase of property, plant and equipment | — |  |  | — |  |  | (55.1 | ) |  | (1.0 | ) |  | — |  |  | (56.1 | )
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 | — |  |  | — |  |  | — |  |  | 8.5 |  |  | — |  |  | 8.5 |
Net cash provided by (used in) investing activities | — |  |  | — |  |  | (55.1 | ) |  | 12.4 |  |  | — |  |  | (42.7 | )
Financing activities |  |  |  |  |  |  |  |  |  |  |
Dividends paid on common shares | (40.6 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (40.6 | )
Dividends paid on redeemable convertible preferred shares | (15.6 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (15.6 | )
Intra-entity dividends paid | — |  |  | — |  |  | — |  |  | (470.5 | ) |  | 470.5 |  |  | — |
Repurchase of common shares | (485.0 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (485.0 | )
Repayments of term loan | — |  |  | — |  |  | (13.4 | ) |  | — |  |  | — |  |  | (13.4 | )
Proceeds from revolving credit facility | — |  |  | — |  |  | 308.0 |  |  | — |  |  | — |  |  | 308.0 |
Repayments of revolving credit facility | — |  |  | — |  |  | (237.0 | ) |  | — |  |  | — |  |  | (237.0 | )
Repayments of bank overdrafts | — |  |  | — |  |  | (8.1 | ) |  | — |  |  | — |  |  | (8.1 | )
Other financing activities | (2.1 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (2.1 | )
Intra-entity activity, net | 75.0 |  |  | (0.2 | ) |  | (302.0 | ) |  | 227.2 |  |  | — |  |  | — |
Net cash provided by (used in) financing activities | (468.3 | ) |  | (0.2 | ) |  | (252.5 | ) |  | (243.3 | ) |  | 470.5 |  |  | (493.8 | )
Cash and cash equivalents at beginning of period | 1.7 |  |  | 0.1 |  |  | 150.5 |  |  | 72.8 |  |  | — |  |  | 225.1 |
Increase (decrease) in cash and cash equivalents | (0.8 | ) |  | — |  |  | (79.9 | ) |  | (3.2 | ) |  | — |  |  | (83.9 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | (6.0 | ) |  | (1.1 | ) |  | — |  |  | (7.1 | )
Cash and cash equivalents at end of period | $ | 0.9 |  |  | $ | 0.1 |  |  | $ | 64.6 |  |  | $ | 68.5 |  |  | $ | — |  |  | $ | 134.1 |

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