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Restructuring plans | 6 Months Ended
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Jul. 31, 2021
Restructuring and Related Activities [Abstract] |
Restructuring plans | Restructuring plans Signet Path to Brilliance Plan During the first quarter of Fiscal 2019, Signet launched a three-year comprehensive transformation plan, the “Signet Path to Brilliance” plan (the “Plan”), to reposition the Company to be a share-gaining, OmniChannel jewelry category leader. Restructuring activities related to the Plan were substantially completed in Fiscal 2021. The Company recorded credits to restructuring expense of $0.9 million and $1.6 million, during the 13 and 26 weeks ended July 31, 2021, respectively, primarily related to adjustments to previously recognized Plan liabilities. Restructuring charges and other Plan-related costs are classified in the condensed consolidated statements of operations as follows:
|  |  | 13 weeks ended |  | 26 weeks ended
(in millions) | Statement of operations caption |  | July 31, 2021 |  | August 1, 2020 |  | July 31, 2021 |  | August 1, 2020
Inventory charges | Restructuring charges - cost of sales |  | $ | — |  |  | $ | (0.2) |  |  | $ | — |  |  | $ | (0.6) |
Other Plan related expenses | Restructuring charges |  | (0.9) |  |  | 28.9 |  |  | (1.6) |  |  | 41.6 |
Total Signet Path to Brilliance Plan expenses |  |  | $ | (0.9) |  |  | $ | 28.7 |  |  | $ | (1.6) |  |  | $ | 41.0 |
The composition of the restructuring charges the Company incurred during the 13 and 26 weeks ended July 31, 2021, as well as the cumulative amount incurred under the Plan through July 31, 2021, were as follows:
|  | 13 weeks ended |  | 26 weeks ended |  | Cumulative amount
(in millions) |  | July 31, 2021 |  | July 31, 2021 |  | July 31, 2021
Inventory charges |  | $ | — |  |  | $ | — |  |  | $ | 72.8 |
Termination benefits |  | (0.4) |  |  | (1.1) |  |  | 48.8 |
Store closure and other costs |  | (0.5) |  |  | (0.5) |  |  | 129.4 |
Total Signet Path to Brilliance Plan expenses |  | $ | (0.9) |  |  | $ | (1.6) |  |  | $ | 251.0 |
Plan liabilities of $5.0 million were recorded within accrued expenses and other current liabilities and Plan liabilities of $2.2 million were recorded within other liabilities in the condensed consolidated balance sheet as of July 31, 2021. The remaining Plan liabilities consist primarily of store closure liabilities and professional fees. The following table summarizes the activity related to the Plan liabilities for Fiscal 2022:
(in millions) |  | Termination benefits |  | Store closure and other costs |  | Consolidated
Balance at January 30, 2021 |  | $ | 2.1 |  |  | $ | 8.1 |  |  | $ | 10.2 |
Payments and other adjustments |  | (0.9) |  |  | (0.5) |  |  | (1.4) |
Charged (credited) to expense |  | (1.1) |  |  | (0.5) |  |  | (1.6) |
Balance at July 31, 2021 |  | $ | 0.1 |  |  | $ | 7.1 |  |  | $ | 7.2 |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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