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Warranty reserve | 3 Months Ended
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May 01, 2021
Other Liabilities Disclosure [Abstract] |
Warranty reserve | Warranty reserve Specific merchandise sold by banners within the North America segment includes a product lifetime diamond or colored gemstone guarantee as long as six-month inspections are performed and certified by an authorized store representative. Provided the customer has complied with the six-month inspection policy, the Company will replace, at no cost to the customer, any stone that chips, breaks or is lost from its original setting during normal wear. Management estimates the warranty accrual based on the lag of actual claims experience and the costs of such claims, inclusive of labor and material. The warranty reserve for diamond and gemstone guarantee, included in accrued expenses and other current liabilities and other non-current liabilities, is as follows:
| 13 weeks ended |  |
(in millions) | May 1, 2021 |  | May 2, 2020 |  |  |  |
Warranty reserve, beginning of period | $ | 37.3 |  |  | $ | 36.3 |  |  |  |  |
Warranty expense | 0.7 |  |  | 3.2 |  |  |  |  |
Utilized (1) | (2.5) |  |  | (2.2) |  |  |  |  |
Warranty reserve, end of period | $ | 35.5 |  |  | $ | 37.3 |  |  |  |  |
(1) Includes impact of foreign exchange translation.
(in millions) | May 1, 2021 |  | January 30, 2021 |  | May 2, 2020
Disclosed as: |  |  |  |  |
Current liabilities | $ | 10.2 |  |  | $ | 10.7 |  |  | $ | 11.0 |
Non-current liabilities | 25.3 |  |  | 26.6 |  |  | 26.3 |
Total warranty reserve | $ | 35.5 |  |  | $ | 37.3 |  |  | $ | 37.3 |

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- References No definition available. + Details
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- Definition The entire disclosure for standard and extended product warranties and other product guarantee contracts, including a tabular reconciliation of the changes in the guarantor's aggregate product warranty liability for the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -URI http://asc.fasb.org/topic&trid=2155896 + Details
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