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Accounts receivable, net (Tables)

12 Months Ended

Jan. 29, 2022

Receivables [Abstract]

Accounts Receivable by Portfolio Segment, Net

The following table presents the components of Signet’s accounts receivable:

(in millions)			January 29, 2022						January 30, 2021
Customer in-house finance receivables, net			$	—					$	72.0
Accounts receivable, trade			18.3						11.6
Accounts receivable, held for sale			1.6						5.1
Accounts receivable, net			$	19.9					$	88.7

Financing Receivable Credit Quality Indicators

The following table disaggregates the Company’s customer in-house finance receivables by credit quality and vintage year as of January 30, 2021:

(in millions)																		Year of origination
Credit quality																		Fiscal 2021
Near Prime																		$	46.6
Subprime																		38.9
Deep Subprime																		12.0
Total at amortized cost																		$	97.5

Summary of Allowance for Credit Losses

The following table is a rollforward of the Company’s allowance for credit losses on customer in-house finance receivables:

(in millions)			Fiscal 2022						Fiscal 2021
Beginning balance			$	25.5					$	—
Provision for credit losses			(1.0)						26.1
Write-offs			(5.5)						(0.6)
Recoveries			0.6						—
Reversal of allowance on receivables sold			(19.6)						—
Ending balance			$	—					$	25.5

Interest income related to the Company’s customer in-house finance receivables is included within other operating income, net in the consolidated statements of operations. Accrued interest is included within the same line item as the respective principal amount of the customer in-house finance receivables in the consolidated balance sheets. The accrual of interest is discontinued at the time the receivable is determined to be uncollectible and written-off. The Company recognized $6.5 million of interest income on its customer in-house finance receivables during Fiscal 2022 (Fiscal 2021: $4.2 million). Interest income recognition ceased at the date of the sale of the portfolio as noted above.

Financing Receivable, Past Due

The following table disaggregates the Company’s customer in-house finance receivables by past due status as of January 30, 2021:

(in millions)
Current						$	81.3
1 - 30 days past due						9.1
31 - 60 days past due						2.6
61 - 90 days past due						1.7
Greater than 90 days past due						2.8
Total at amortized cost						$	97.5

X

- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

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- Definition

Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

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