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Revenue Recognition (Tables)

3 Months Ended

Apr. 30, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table provides the Company’s total sales, disaggregated by banner, for the 13 weeks ended April 30, 2022 and May 1, 2021:

			13 weeks ended April 30, 2022																								13 weeks ended May 1, 2021
(in millions)			North America						International						Other						Consolidated						North America						International						Other						Consolidated
Sales by banner:
Kay			$	667.3					$	—					$	—					$	667.3					$	676.8					$	—					$	—					$	676.8
Zales			347.7						—						—						347.7						370.8						—						—						370.8
Jared			314.1						—						—						314.1						284.1						—						—						284.1
Banter by Piercing Pagoda			119.0						—						—						119.0						148.8						—						—						148.8
Diamonds Direct			106.3						—						—						106.3						—						—						—						—
James Allen			93.3						—						—						93.3						101.5						—						—						101.5
Peoples			45.4						—						—						45.4						34.6						—						—						34.6
International segment banners			—						110.0						—						110.0						—						57.4						—						57.4
Other (1)			11.9						—						23.3						35.2						1.4						—						13.4						14.8
Total sales			$	1,705.0					$	110.0					$	23.3					$	1,838.3					$	1,618.0					$	57.4					$	13.4					$	1,688.8

(1) Other includes primarily sales from Signet’s diamond sourcing initiative and Rocksbox.

The following table provides the Company’s total sales, disaggregated by major product, for the 13 weeks ended April 30, 2022 and May 1, 2021:

			13 weeks ended April 30, 2022																								13 weeks ended May 1, 2021
(in millions)			North America						International						Other						Consolidated						North America						International						Other						Consolidated
Sales by product:
Bridal			$	787.3					$	50.1					$	—					$	837.4					$	726.7					$	28.8					$	—					$	755.5
Fashion			658.2						17.7						—						675.9						661.4						9.7						—						671.1
Watches			51.5						35.2						—						86.7						46.9						17.2						—						64.1
Services (1)			166.0						7.0						—						173.0						145.9						1.7						—						147.6
Other (2)			42.0						—						23.3						65.3						37.1						—						13.4						50.5
Total sales			$	1,705.0					$	110.0					$	23.3					$	1,838.3					$	1,618.0					$	57.4					$	13.4					$	1,688.8

(1)     Services primarily includes sales from service plans, repairs and subscriptions.

(2)     Other primarily includes sales from Signet’s diamond sourcing initiative and other miscellaneous non-jewelry sales.

The following table provides the Company’s total sales, disaggregated by channel, for the 13 weeks ended April 30, 2022 and May 1, 2021:

			13 weeks ended April 30, 2022																								13 weeks ended May 1, 2021
(in millions)			North America						International						Other						Consolidated						North America						International						Other						Consolidated
Sales by channel:
Store			$	1,396.5					$	89.9					$	—					$	1,486.4					$	1,299.6					$	29.5					$	—					$	1,329.1
E-commerce			300.4						20.1						—						320.5						318.4						27.9						—						346.3
Other (1)			8.1						—						23.3						31.4						—						—						13.4						13.4
Total sales			$	1,705.0					$	110.0					$	23.3					$	1,838.3					$	1,618.0					$	57.4					$	13.4					$	1,688.8

(1) Other primarily includes sales from Signet’s diamond sourcing initiative.

Schedule of Deferred Selling Costs

Unamortized deferred selling costs as of April 30, 2022, January 29, 2022 and May 1, 2021 were as follows:

(in millions)			April 30, 2022						January 29, 2022						May 1, 2021
Other current assets			$	27.9					$	28.4					$	26.4
Other assets			87.3						87.8						86.1
Total deferred selling costs			$	115.2					$	116.2					$	112.5

Amortization of deferred ESP selling costs is included within selling, general and administrative expenses in the condensed consolidated statements of operations. Amortization of deferred ESP selling costs was $10.8 million during the 13 weeks ended April 30, 2022 and $9.9 million during the 13 weeks ended May 1, 2021.

Deferred Revenue

Deferred revenue as of April 30, 2022, January 29, 2022 and May 1, 2021 was as follows:

(in millions)			April 30, 2022						January 29, 2022						May 1, 2021
ESP deferred revenue			$	1,125.9					$	1,116.5					$	1,049.4
Other deferred revenue (1)			78.1						82.4						58.3
Total deferred revenue			$	1,204.0					$	1,198.9					$	1,107.7
Disclosed as:
Current liabilities			$	336.9					$	341.3					$	310.0
Non-current liabilities			867.1						857.6						797.7
Total deferred revenue			$	1,204.0					$	1,198.9					$	1,107.7

(1) Other deferred revenue primarily includes revenue collected from customers for custom orders and eCommerce orders, for which control has not yet transferred to the customer.

			13 weeks ended
(in millions)			April 30, 2022						May 1, 2021
ESP deferred revenue, beginning of period			$	1,116.5					$	1,028.9
Plans sold (1)			123.8						124.1
Revenue recognized (2)			(114.4)						(103.6)
ESP deferred revenue, end of period			$	1,125.9					$	1,049.4

(1)    Includes impact of foreign exchange translation.

(2)    The Company recognized sales of $79.2 million and $72.6 million during the 13 weeks ended April 30, 2022 and May 1, 2021, respectively, related to deferred revenue that existed at the beginning of the period in respect to ESP.

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

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Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

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- Definition

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+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
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