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Accounts receivable, net (Tables)
 3 Months Ended
May 05, 2018
Receivables [Abstract]  
Accounts Receivable By Portfolio Segment, Net
(in millions)
May 5, 2018
 
February 3, 2018
 
April 29, 2017
Accounts receivable by portfolio segment, net:
 
 
 
 
 
Legacy Sterling Jewelers customer in-house finance receivables
$
—

 
$
649.4

 
$
1,683.8

Legacy Zale customer in-house finance receivables
$
—

 
33.5

 
32.8

North America customer in-house finance receivables
$
—

 
$
682.9

 
$
1,716.6

Other accounts receivable
6.8

 
9.6

 
9.7

Total accounts receivable, net
$
6.8

 
$
692.5

 
$
1,726.3

 
 
 
 
 
 
Accounts receivable, held for sale
$
484.6

 
$
—

 
$
—
Allowance for Credit Losses on US Customer In-House Finance Receivables
The activity in the allowance for credit losses on Sterling Jewelers customer in-house finance receivables is shown below:
 
13 weeks ended
(in millions)
May 5, 2018
 
April 29, 2017
Beginning balance
$
(113.5
)
 
$
(138.7
)
Charge-offs, net
56.3

 
54.4

Recoveries
4.2

 
9.1

Provision
(54.6
)
 
(51.7
)
Reversal of allowance on receivables previously held for sale
107.6

 
—

Ending balance
$
—

 
$
(126.9
)
Ending receivable balance evaluated for impairment
—

 
1,810.7

Sterling Jewelers customer in-house finance receivables, net
$
—

 
$
1,683.8
Credit Quality Indicator and Age Analysis of Past Due US Customer In-House Finance Receivables
The credit quality indicator and age analysis of customer in-house finance receivables as of February 3, 2018 are shown below under the contractual basis:
   
 
February 3, 2018
(in millions)
 
Gross
 
Valuation
allowance
Performing (accrual status):
 
 
 
 
0 - 120 days past due
 
$
703.4

 
$
(54.0
)
121 or more days past due
 
59.5

 
(59.5
)
 
 
$
762.9

 
$
(113.5
)
 
 
 
 
 
Valuation allowance as a % of ending receivable balance
 


 
14.9
%
Prior to the fourth quarter of Fiscal 2018, the Company’s calculation of the allowance for credit losses was based on a recency measure of delinquency. The credit quality indicator and age analysis of customer in-house finance receivables prior to the sale of the prime-only credit portion of the in-house receivable portfolio as of April 29, 2017 are shown below under the recency basis:
   
 
April 29, 2017
(in millions)
 
Gross
 
Valuation
allowance
Performing (accrual status):
 
 
 
 
Current, aged 0 – 30 days
 
$
1,445.9

 
$
(44.5
)
Past due, aged 31 – 60 days
 
251.9

 
(8.3
)
Past due, aged 61 – 90 days
 
40.9

 
(2.1
)
Non Performing:
 
 
 
 
Past due, aged more than 90 days
 
72.0

 
(72.0
)
 
 
$
1,810.7

 
$
(126.9
)
 
 


 


Valuation allowance as a % of ending receivable balance
 


 
7.0
%