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Warranty reserve | 3 Months Ended
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May 03, 2025
Other Liabilities Disclosure [Abstract] |
Warranty reserve | Warranty reserve Certain brands within the North America reportable segment provide a product lifetime diamond guarantee as long as six-month inspections are performed and certified by an authorized store representative. Provided the customer has complied with the six-month inspection policy, the Company will replace, at no cost to the customer, any stone that chips, breaks or is lost from its original setting during normal wear. The Company estimates the warranty accrual based on the lag of actual claims experience and the costs of such claims, inclusive of labor and material. A similar product lifetime guarantee is also provided on color gemstones. The warranty reserve for diamond and gemstone guarantees, included in accrued expenses and other current liabilities and other liabilities - non-current, is as follows:
| 13 weeks ended |  |
(in millions) | May 3, 2025 |  | May 4, 2024 |  |  |  |
Warranty reserve, beginning of period | $ | 39.0 |  |  | $ | 43.7 |  |  |  |  |
Warranty (credit) expense | (0.6) |  |  | 2.3 |  |  |  |  |
Utilized (1) | (2.2) |  |  | (2.8) |  |  |  |  |
Warranty reserve, end of period | $ | 36.2 |  |  | $ | 43.2 |  |  |  |  |
(1) Includes impact of foreign exchange translation.
(in millions) | May 3, 2025 |  | February 1, 2025 |  | May 4, 2024
Disclosed as: |  |  |  |  |
Accrued expenses and other current liabilities | $ | 9.5 |  |  | $ | 10.3 |  |  | $ | 11.6 |
Other liabilities - non-current | 26.7 |  |  | 28.7 |  |  | 31.6 |
Total warranty reserve | $ | 36.2 |  |  | $ | 39.0 |  |  | $ | 43.2 |

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- Definition The entire disclosure for standard and extended product warranties and other product guarantee contracts, including a tabular reconciliation of the changes in the guarantor's aggregate product warranty liability for the reporting period. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 460 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (a)(4) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482425/460-10-50-4 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 460 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (a)(5) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482425/460-10-50-4 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 460 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482425/460-10-50-4 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 460 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482425/460-10-50-4 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 460 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482425/460-10-50-4 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 460 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482425/460-10-50-4 + Details
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