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Revenue recognition (Tables)

12 Months Ended

Jan. 28, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following tables provide the Company’s total sales, disaggregated by banner, for Fiscal 2023, Fiscal 2022 and Fiscal 2021:

						Fiscal 2023
(in millions)						North America						International						Other						Consolidated
Sales by banner:
Kay						$	2,804.2					$	—					$	—					$	2,804.2
Zales						1,445.0						—						—						1,445.0
Jared						1,313.5						—						—						1,313.5
Digital banners (1) (2)						571.8						—						—						571.8
Diamonds Direct						467.1						—						—						467.1
Banter by Piercing Pagoda						417.9						—						—						417.9
Peoples						209.1						—						—						209.1
International segment banners						—						470.1						—						470.1
Other (4)						60.9						—						82.5						143.4
Total sales						$	7,289.5					$	470.1					$	82.5					$	7,842.1
						Fiscal 2022
(in millions)						North America						International						Other						Consolidated
Sales by banner:
Kay						$	2,985.8					$	—					$	—					$	2,985.8
Zales						1,624.8						—						—						1,624.8
Jared						1,326.3						—						—						1,326.3
Digital banners (1)						422.8						—						—						422.8
Diamonds Direct (3)						132.5						—						—						132.5
Banter by Piercing Pagoda						553.4						—						—						553.4
Peoples						206.2						—						—						206.2
International segment banners						—						492.4						—						492.4
Other (4)						13.0						—						68.8						81.8
Total sales						$	7,264.8					$	492.4					$	68.8					$	7,826.0
						Fiscal 2021
(in millions)						North America						International						Other						Consolidated
Sales by banner:
Kay						$	2,008.6					$	—					$	—					$	2,008.6
Zales						1,121.6						—						—						1,121.6
Jared						920.9						—						—						920.9
Digital banners (1)						301.4						—						—						301.4
Banter by Piercing Pagoda						337.5						—						—						337.5
Peoples						150.9						—						—						150.9
International segment banners						—						355.9						—						355.9
Other (4)						—						—						30.1						30.1
Total sales						$	4,840.9					$	355.9					$	30.1					$	5,226.9

(1)     Includes sales from the Company’s digital banners James Allen and Blue Nile.

(2)    Includes Blue Nile sales since the date of acquisition on August 19, 2022. See Note 4 for further details.

(3)    Includes Diamonds Direct sales since the date of acquisition on November 17, 2021. See Note 4 for further details.

(4)    Other primarily includes sales from Signet’s diamond sourcing initiative, loose diamonds and Rocksbox.

The following tables provide the Company’s total sales, disaggregated by major product, for Fiscal 2023, Fiscal 2022 and Fiscal 2021:

			Fiscal 2023
(in millions)			North America						International						Other						Consolidated
Sales by product:
Bridal			$	3,230.8					$	204.8					$	—					$	3,435.6
Fashion			2,965.3						86.2						—						3,051.5
Watches			232.6						152.9						—						385.5
Services (1)			680.4						26.2						—						706.6
Other (2)			180.4						—						82.5						262.9
Total sales			$	7,289.5					$	470.1					$	82.5					$	7,842.1
			Fiscal 2022
(in millions)			North America						International						Other						Consolidated
Sales by product:
Bridal			$	3,087.6					$	222.8					$	—					$	3,310.4
Fashion			3,130.1						92.7						—						3,222.8
Watches			241.8						157.8						—						399.6
Services (1)			626.2						19.1						—						645.3
Other (2)			179.1						—						68.8						247.9
Total sales			$	7,264.8					$	492.4					$	68.8					$	7,826.0
			Fiscal 2021
(in millions)			North America						International						Other						Consolidated
Sales by product:
Bridal			$	2,140.5					$	166.4					$	—					$	2,306.9
Fashion			1,987.9						69.2						—						2,057.1
Watches			145.6						108.5						—						254.1
Services (1)			374.5						11.8						—						386.3
Other (2)			192.4						—						30.1						222.5
Total sales			$	4,840.9					$	355.9					$	30.1					$	5,226.9

(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 tables provide the Company’s total sales, disaggregated by channel, for Fiscal 2023, Fiscal 2022 and Fiscal 2021:

			Fiscal 2023
(in millions)			North America						International						Other						Consolidated
Sales by channel:
Store			$	5,728.5					$	386.0					$	—					$	6,114.5
eCommerce			1,515.3						84.1						—						1,599.4
Other (1)			45.7						—						82.5						128.2
Total sales			$	7,289.5					$	470.1					$	82.5					$	7,842.1
			Fiscal 2022
(in millions)			North America						International						Other						Consolidated
Sales by channel:
Store			$	5,867.9					$	377.7					$	—					$	6,245.6
eCommerce			1,396.9						114.7						—						1,511.6
Other (1)			—						—						68.8						68.8
Total sales			$	7,264.8					$	492.4					$	68.8					$	7,826.0
			Fiscal 2021
(in millions)			North America						International						Other						Consolidated
Sales by channel:
Store			$	3,772.9					$	238.9					$	—					$	4,011.8
eCommerce			1,068.0						117.0						—						1,185.0
Other (1)			—						—						30.1						30.1
Total sales			$	4,840.9					$	355.9					$	30.1					$	5,226.9

(1) Includes sales from Signet’s diamond sourcing initiative and loose diamonds.

Schedule of Deferred Selling Costs

Unamortized deferred selling costs as of Fiscal 2023 and Fiscal 2022 were as follows:

(in millions)			January 28, 2023						January 29, 2022
Other current assets			$	29.2					$	28.4
Other assets			85.4						87.8
Total deferred selling costs			$	114.6					$	116.2

Schedule of Deferred Revenue

Deferred revenue consists primarily of ESP and other deferred revenue as follows:

(in millions)			January 28, 2023						January 29, 2022
ESP deferred revenue			$	1,159.5					$	1,116.5
Other deferred revenue (1)			90.1						82.4
Total deferred revenue			$	1,249.6					$	1,198.9
Disclosed as:
Current liabilities			$	369.5					$	341.3
Non-current liabilities			880.1						857.6
Total deferred revenue			$	1,249.6					$	1,198.9

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

(in millions)			Fiscal 2023						Fiscal 2022
ESP deferred revenue, beginning of period			$	1,116.5					$	1,028.9
Plans sold (1)			522.9						528.9
Revenue recognized (2)			(479.9)						(441.3)
ESP deferred revenue, end of period			$	1,159.5					$	1,116.5

(1) Includes impact of foreign exchange translation.

(2)    During Fiscal 2023 and Fiscal 2022, the Company recognized sales of approximately $269.3 million and $244.1 million, respectively, related to deferred revenue that existed at the beginning of the year in respect to ESP.

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- 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
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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
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-Section 50
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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
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