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Long-term debt | 6 Months Ended
--- | ---
Aug. 03, 2024
Debt Disclosure [Abstract] |
Long-term debt | Long-term debt
(in millions) | August 3, 2024 |  | February 3, 2024 |  | July 29, 2023
Debt: |  |  |  |  |
4.70% Senior unsecured notes due in June 2024, net of unamortized discount | $ | — |  |  | $ | 147.8 |  |  | $ | 147.7 |
Gross debt | — |  |  | 147.8 |  |  | 147.7 |
Less: Current portion of long-term debt | — |  |  | (147.7) |  |  | (147.5) |
Less: Unamortized debt issuance costs | — |  |  | (0.1) |  |  | (0.2) |
Total long-term debt | $ | — |  |  | $ | — |  |  | $ | — |
Senior unsecured notes due 2024 On May 19, 2014, Signet UK Finance plc (“Signet UK Finance”), a wholly owned subsidiary of the Company, issued $400 million aggregate principal amount of its 4.70% senior unsecured notes due in June 2024 (the “Senior Notes”). The Senior Notes were issued under an effective registration statement previously filed with the SEC. Interest on the Senior Notes was payable semi-annually on June 15 and December 15 of each year. The Senior Notes were jointly and severally guaranteed, on a full and unconditional basis, by the Company and by certain of the Company’s wholly owned subsidiaries. On September 5, 2019, Signet UK Finance announced the commencement of a tender offer to purchase any and all of its outstanding Senior Notes (the “Tender Offer”). Signet UK Finance tendered $239.6 million of the Senior Notes, representing a purchase price of $950.00 per $1,000.00 in principal, leaving $147.8 million of the Senior Notes outstanding after the Tender Offer. The Company fully repaid the Senior Notes upon maturity during the second quarter of Fiscal 2025. Asset-based credit facility On September 27, 2019, the Company entered into a senior secured asset-based revolving credit facility in an aggregate committed amount of $1.5 billion (the “ABL”). The Company has the option to increase the size of the ABL by up to an additional $600 million. On August 23, 2024, the Company entered into the Fourth Amendment to the Credit Agreement (the “Fourth Amendment”) to amend the ABL. The Fourth Amendment extended the maturity of the ABL from July 28, 2026 to August 23, 2029, and reduced the ABL aggregate commitment to $1.2 billion. In addition, the Fourth Amendment expands the assets counted in the calculation of the borrowing base applicable to the ABL to include all specified assets of borrower and guarantor entities. The Company had no outstanding borrowings on the ABL for the periods presented and its available borrowing capacity was $1.2 billion as of August 3, 2024.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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