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Condensed consolidating financial information
 9 Months Ended
Nov. 02, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Condensed consolidating financial information Condensed consolidating financial information
The accompanying condensed consolidating financial information has been prepared and presented pursuant to SEC Regulation S-X, Rule 3-10, “Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered.” Signet and certain of its subsidiaries have guaranteed the obligations under certain debt securities that have been issued by Signet UK Finance plc. The following presents the condensed consolidating financial information for: (i) the indirect Parent Company (Signet Jewelers Limited); (ii) the Issuer of the guaranteed obligations (Signet UK Finance plc); (iii) the Guarantor subsidiaries, on a combined basis; (iv) the non-guarantor subsidiaries, on a combined basis; (v) consolidating eliminations and (vi) Signet Jewelers Limited and Subsidiaries on a consolidated basis. Each Guarantor subsidiary is 100% owned by the Parent Company at the date of each balance sheet presented. The Guarantor subsidiaries, along with Signet Jewelers Limited, will fully and unconditionally guarantee the obligations of Signet UK Finance plc under any such debt securities. Each entity in the consolidating financial information follows the same accounting policies as described in the condensed consolidated financial statements.
The accompanying condensed consolidating financial information has been presented on the equity method of accounting for all periods presented. Under this method, investments in subsidiaries are recorded at cost and adjusted for the subsidiaries’ cumulative results of operations, capital contributions and distributions and other changes in equity. Elimination entries include consolidating and eliminating entries for investments in subsidiaries and intra-entity activity and balances.

Condensed Consolidating Statement of Operations
For the 13 weeks ended November 2, 2019
(Unaudited)
(in millions)
Signet
Jewelers
Limited
 
Signet UK
Finance plc
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Sales
$
—

 
$
—

 
$
1,074.4

 
$
113.3

 
$
—

 
$
1,187.7

Cost of sales
—

 
—

 
(746.5
)
 
(72.1
)
 
—

 
(818.6
)
Restructuring charges - cost of sales
—

 
—

 
(0.9
)
 
(0.5
)
 
—

 
(1.4
)
Gross margin
—

 
—

 
327.0

 
40.7

 
—

 
367.7

Selling, general and administrative expenses
(0.2
)
 
—

 
(387.3
)
 
(10.9
)
 
—

 
(398.4
)
Restructuring charges
—

 
—

 
(8.4
)
 
(0.8
)
 
—

 
(9.2
)
Other operating income (loss), net
—

 
—

 
(0.1
)
 
0.1

 
—

 
—

Operating income (loss)
(0.2
)
 
—

 
(68.8
)
 
29.1

 
—

 
(39.9
)
Intra-entity interest income (expense)
(0.4
)
 
3.7

 
(44.7
)
 
41.4

 
—

 
—

Interest expense, net
—

 
(3.8
)
 
(5.4
)
 
0.6

 
—

 
(8.6
)
Other non-operating income (loss), net
—

 
8.8

 
(1.8
)
 
—

 
—

 
7.0

Income (loss) before income taxes
(0.6
)
 
8.7

 
(120.7
)
 
71.1

 
—

 
(41.5
)
Income taxes
—

 
(1.7
)
 
15.4

 
(7.7
)
 
—

 
6.0

Equity in income (loss) of subsidiaries
(34.9
)
 
—

 
(90.4
)
 
(90.9
)
 
216.2

 
—

Net income (loss)
$
(35.5
)
 
$
7.0

 
$
(195.7
)
 
$
(27.5
)
 
$
216.2

 
$
(35.5
)
Dividends on redeemable convertible preferred shares
(8.2
)
 
—

 
—

 
—

 
—

 
(8.2
)
Net income (loss) attributable to common shareholders
$
(43.7
)
 
$
7.0

 
$
(195.7
)
 
$
(27.5
)
 
$
216.2

 
$
(43.7
)

Condensed Consolidating Statement of Operations
For the 13 weeks ended November 3, 2018
(Unaudited)
(in millions)
Signet
Jewelers
Limited
 
Signet UK
Finance plc
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Sales
$
—

 
$
—

 
$
1,070.6

 
$
121.1

 
$
—

 
$
1,191.7

Cost of sales
—

 
—

 
(758.0
)
 
(62.5
)
 
—

 
(820.5
)
Gross margin
—

 
—

 
312.6

 
58.6

 
—

 
371.2

Selling, general and administrative expenses
(0.2
)
 
—

 
(378.3
)
 
(31.8
)
 
—

 
(410.3
)
Credit transaction, net
—

 
—

 
(0.4
)
 
—

 
—

 
(0.4
)
Restructuring charges
—

 
—

 
(9.2
)
 
(0.3
)
 
—

 
(9.5
)
Other operating income (loss), net
—

 
—

 
0.3

 
(0.1
)
 
—

 
0.2

Operating income (loss)
(0.2
)
 
—

 
(75.0
)
 
26.4

 
—

 
(48.8
)
Intra-entity interest income (expense)
(1.0
)
 
4.7

 
(44.9
)
 
41.2

 
—

 
—

Interest expense, net
—

 
(5.1
)
 
(5.6
)
 
0.1

 
—

 
(10.6
)
Other non-operating income (loss), net
—

 
—

 
0.3

 
—

 
—

 
0.3

Income (loss) before income taxes
(1.2
)
 
(0.4
)
 
(125.2
)
 
67.7

 
—

 
(59.1
)
Income taxes
—

 
0.1

 
53.1

 
(24.0
)
 
—

 
29.2

Equity in income (loss) of subsidiaries
(28.7
)
 
—

 
(92.8
)
 
(68.4
)
 
189.9

 
—

Net income (loss)
$
(29.9
)
 
$
(0.3
)
 
$
(164.9
)
 
$
(24.7
)
 
$
189.9

 
$
(29.9
)
Dividends on redeemable convertible preferred shares
(8.2
)
 
—

 
—

 
—

 
—

 
(8.2
)
Net income (loss) attributable to common shareholders
$
(38.1
)
 
$
(0.3
)
 
$
(164.9
)
 
$
(24.7
)
 
$
189.9

 
$
(38.1
)
Condensed Consolidating Statement of Operations
For the 39 weeks ended November 2, 2019
(Unaudited)
(in millions)
Signet
Jewelers
Limited
 
Signet UK
Finance plc
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Sales
$
—

 
$
—

 
$
3,649.5

 
$
334.3

 
$
—

 
$
3,983.8

Cost of sales
—

 
—

 
(2,432.2
)
 
(220.0
)
 
—

 
(2,652.2
)
Restructuring charges - cost of sales
—

 
—

 
(2.6
)
 
(3.2
)
 
—

 
(5.8
)
Gross margin
—

 
—

 
1,214.7

 
111.1

 
—

 
1,325.8

Selling, general and administrative expenses
(0.4
)
 
—

 
(1,257.0
)
 
(27.6
)
 
—

 
(1,285.0
)
Restructuring charges
—

 
—

 
(57.0
)
 
(2.4
)
 
—

 
(59.4
)
Goodwill and intangible impairments
—

 
—

 
(35.2
)
 
(12.5
)
 
—

 
(47.7
)
Other operating income (loss), net
—

 
—

 
1.8

 
(0.4
)
 
—

 
1.4

Operating income (loss)
(0.4
)
 
—

 
(132.7
)
 
68.2

 
—

 
(64.9
)
Intra-entity interest income (expense)
(1.6
)
 
13.1

 
(140.9
)
 
129.4

 
—

 
—

Interest expense, net
—

 
(13.7
)
 
(14.9
)
 
0.7

 
—

 
(27.9
)
Other non-operating income
—

 
8.8

 
(1.3
)
 
—

 
—

 
7.5

Income (loss) before income taxes
(2.0
)
 
8.2

 
(289.8
)
 
198.3

 
—

 
(85.3
)
Income taxes
—

 
(1.6
)
 
38.2

 
(32.9
)
 
—

 
3.7

Equity in income (loss) of subsidiaries
(79.6
)
 
—

 
(272.8
)
 
(227.1
)
 
579.5

 
—

Net income (loss)
$
(81.6
)
 
$
6.6

 
$
(524.4
)
 
$
(61.7
)
 
$
579.5

 
$
(81.6
)
Dividends on redeemable convertible preferred shares
(24.6
)
 
—

 
—

 
—

 
—

 
(24.6
)
Net income (loss) attributable to common shareholders
$
(106.2
)
 
$
6.6

 
$
(524.4
)
 
$
(61.7
)
 
$
579.5

 
$
(106.2
)

Condensed Consolidating Statement of Operations
For the 39 weeks ended November 3, 2018
(Unaudited)
(in millions)
Signet
Jewelers
Limited
 
Signet UK
Finance plc
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Sales
$
—

 
$
—

 
$
3,723.4

 
$
369.0

 
$
—

 
$
4,092.4

Cost of sales
—

 
—

 
(2,561.6
)
 
(184.6
)
 
—

 
(2,746.2
)
Restructuring charges - cost of sales
—

 
—

 
(57.5
)
 
(5.7
)
 
—

 
(63.2
)
Gross margin
—

 
—

 
1,104.3

 
178.7

 
—

 
1,283.0

Selling, general and administrative expenses
(0.7
)
 
—

 
(1,230.4
)
 
(106.8
)
 
—

 
(1,337.9
)
Credit transaction, net
—

 
—

 
(167.4
)
 
—

 
—

 
(167.4
)
Restructuring charges
—

 
—

 
(34.3
)
 
(1.3
)
 
—

 
(35.6
)
Goodwill and intangible impairments
—

 
—

 
(448.7
)
 
—

 
—

 
(448.7
)
Other operating income (loss), net
(0.1
)
 
—

 
21.8

 
3.8

 
—

 
25.5

Operating income (loss)
(0.8
)
 
—

 
(754.7
)
 
74.4

 
—

 
(681.1
)
Intra-entity interest income (expense)
(3.4
)
 
14.1

 
(198.8
)
 
188.1

 
—

 
—

Interest expense, net
—

 
(14.9
)
 
(14.2
)
 
0.2

 
—

 
(28.9
)
Other non-operating income
—

 
—

 
1.4

 
—

 
—

 
1.4

Income (loss) before income taxes
(4.2
)
 
(0.8
)
 
(966.3
)
 
262.7

 
—

 
(708.6
)
Income taxes
—

 
0.2

 
157.6

 
1.3

 
—

 
159.1

Equity in income (loss) of subsidiaries
(545.3
)
 
—

 
(865.7
)
 
(857.3
)
 
2,268.3

 
—

Net income (loss)
$
(549.5
)
 
$
(0.6
)
 
$
(1,674.4
)
 
$
(593.3
)
 
$
2,268.3

 
$
(549.5
)
Dividends on redeemable convertible preferred shares
(24.6
)
 
—

 
—

 
—

 
—

 
(24.6
)
Net income (loss) attributable to common shareholders
$
(574.1
)
 
$
(0.6
)
 
$
(1,674.4
)
 
$
(593.3
)
 
$
2,268.3

 
$
(574.1
)

Condensed Consolidating Statement of Comprehensive Income (Loss)
For the 13 weeks ended November 2, 2019
(Unaudited)
(in millions)
Signet
Jewelers
Limited
 
Signet UK
Finance plc
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Net income (loss)
$
(35.5
)
 
$
7.0

 
$
(195.7
)
 
$
(27.5
)
 
$
216.2

 
$
(35.5
)
Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
19.9

 
—

 
20.1

 
(0.2
)
 
(19.9
)
 
19.9

Available-for-sale securities:
 
 
 
 
 
 
 
 
 
 
 
Unrealized gain (loss)
(0.4
)
 
—

 
—

 
(0.4
)
 
0.4

 
(0.4
)
Reclassification adjustment for (gains) losses to net income
1.0

 
—

 
—

 
1.0

 
(1.0
)
 
1.0

Cash flow hedges:
 
 
 
 
 
 
 
 
 
 
 
Unrealized gain (loss)
2.4

 
—

 
2.4

 
—

 
(2.4
)
 
2.4

Reclassification adjustment for gains to net income
(0.4
)
 
—

 
(0.4
)
 
—

 
0.4

 
(0.4
)
Pension plan:
 
 
 
 
 
 
 
 
 
 
 
Reclassification adjustment to net income for amortization of actuarial losses
0.3

 
—

 
0.3

 
—

 
(0.3
)
 
0.3

Total other comprehensive income (loss)
22.8

 
—

 
22.4

 
0.4

 
(22.8
)
 
22.8

Total comprehensive income (loss)
$
(12.7
)
 
$
7.0

 
$
(173.3
)
 
$
(27.1
)
 
$
193.4

 
$
(12.7
)

Condensed Consolidating Statement of Comprehensive Income (Loss)
For the 13 weeks ended November 3, 2018
(Unaudited)
(in millions)
Signet
Jewelers
Limited
 
Signet UK
Finance plc
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Net income (loss)
$
(29.9
)
 
$
(0.3
)
 
$
(164.9
)
 
$
(24.7
)
 
$
189.9

 
$
(29.9
)
Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
(2.5
)
 


 
(2.5
)
 
—

 
2.5

 
(2.5
)
Cash flow hedges:
 
 
 
 
 
 
 
 
 
 
 
Unrealized gain (loss)
2.3

 
—

 
2.3

 
—

 
(2.3
)
 
2.3

Reclassification adjustment for gains to net income
(0.5
)
 
—

 
(0.5
)
 
—

 
0.5

 
(0.5
)
Pension plan:
 
 
 
 
 
 
 
 
 
 
 
Reclassification adjustment to net income for amortization of actuarial losses
0.2

 
—

 
0.2

 
—

 
(0.2
)
 
0.2

Total other comprehensive income (loss)
(0.5
)
 
—

 
(0.5
)
 
—

 
0.5

 
(0.5
)
Total comprehensive income (loss)
$
(30.4
)
 
$
(0.3
)
 
$
(165.4
)
 
$
(24.7
)
 
$
190.4

 
$
(30.4
)


Condensed Consolidating Statement of Comprehensive Income (Loss)
For the 39 weeks ended November 2, 2019
(Unaudited)
(in millions)
Signet
Jewelers
Limited
 
Signet UK
Finance plc
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Net income (loss)
$
(81.6
)
 
$
6.6

 
$
(524.4
)
 
$
(61.7
)
 
$
579.5

 
$
(81.6
)
Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
(6.1
)
 
—

 
(6.0
)
 
(0.1
)
 
6.1

 
(6.1
)
Available-for-sale securities:
 
 
 
 
 
 
 
 
 
 
 
Unrealized gain (loss)
(0.2
)
 
—

 
—

 
(0.2
)
 
0.2

 
(0.2
)
Reclassification adjustment for (gains) losses to net income
1.0

 
—

 
—

 
1.0

 
(1.0
)
 
1.0

Cash flow hedges:
 
 
 
 
 
 
 
 
 
 
 
Unrealized gain (loss)
8.6

 
—

 
8.6

 
—

 
(8.6
)
 
8.6

Reclassification adjustment for gains to net income
(0.8
)
 
—

 
(0.8
)
 
—

 
0.8

 
(0.8
)
Pension plan:
 
 
 
 
 
 
 
 
 
 
 
Reclassification adjustment to net income for amortization of actuarial losses
0.8

 
—

 
0.8

 
—

 
(0.8
)
 
0.8

Total other comprehensive income (loss)
3.3

 
—

 
2.6

 
0.7

 
(3.3
)
 
3.3

Total comprehensive income (loss)
$
(78.3
)
 
$
6.6

 
$
(521.8
)
 
$
(61.0
)
 
$
576.2

 
$
(78.3
)

Condensed Consolidating Statement of Comprehensive Income (Loss)
For the 39 weeks ended November 3, 2018
(Unaudited)
(in millions)
Signet
Jewelers
Limited
 
Signet UK
Finance plc
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Net income (loss)
$
(549.5
)
 
$
(0.6
)
 
$
(1,674.4
)
 
$
(593.3
)
 
$
2,268.3

 
$
(549.5
)
Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
(39.5
)
 
—

 
(39.0
)
 
(0.5
)
 
39.5

 
(39.5
)
Available-for-sale securities:
 
 
 
 
 
 
 
 
 
 
 
Unrealized gain (loss)
0.3

 
—

 
—

 
0.3

 
(0.3
)
 
0.3

Impact from adoption of new accounting pronouncements(1)
(0.8
)
 
—

 
—

 
(0.8
)
 
0.8

 
(0.8
)
Cash flow hedges:
 
 
 
 
 
 
 
 
 
 
 
Unrealized gain (loss)
0.8

 
—

 
0.8

 
—

 
(0.8
)
 
0.8

Reclassification adjustment for gains to net income
(1.0
)
 
—

 
(1.0
)
 
—

 
1.0

 
(1.0
)
Pension plan:
 
 
 
 
 
 
 
 
 
 
 
Actuarial loss
(6.5
)
 
—

 
(6.5
)
 
—

 
6.5

 
(6.5
)
Reclassification adjustment to net income for amortization of actuarial losses
0.5

 
—

 
0.5

 
—

 
(0.5
)
 
0.5

Total other comprehensive income (loss)
(46.2
)
 
—

 
(45.2
)
 
(1.0
)
 
46.2

 
(46.2
)
Total comprehensive income (loss)
$
(595.7
)
 
$
(0.6
)
 
$
(1,719.6
)
 
$
(594.3
)
 
$
2,314.5

 
$
(595.7
)

(1) 
Adjustment reflects the reclassification of unrealized gains related to the Company’s equity security investments as of February 3, 2018 from AOCI into retained earnings associated with the adoption of ASU 2016-1.

Condensed Consolidating Balance Sheet
November 2, 2019
(Unaudited)
(in millions)
Signet
Jewelers
Limited
 
Signet UK
Finance plc
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
0.7

 
$
0.1

 
$
135.0

 
$
52.8

 
$
—

 
$
188.6

Accounts receivable
—

 
—

 
4.6

 
16.2

 
—

 
20.8

Intra-entity receivables, net
—

 
5.6

 
30.7

 
334.7

 
(371.0
)
 
—

Other current assets
—

 
—

 
145.5

 
61.7

 
—

 
207.2

Income taxes
—

 
—

 
2.7

 
—

 
—

 
2.7

Inventories
—

 
—

 
2,427.5

 
91.9

 
—

 
2,519.4

Total current assets
0.7

 
5.7

 
2,746.0

 
557.3

 
(371.0
)
 
2,938.7

Non-current assets:
 
 
 
 
 
 
 
 
 
 
 
Property, plant and equipment, net
—

 
—

 
741.6

 
9.6

 
—

 
751.2

Operating lease right-of-use assets
—

 
—

 
1,676.0

 
8.0

 
—

 
1,684.0

Goodwill
—

 
—

 
171.1

 
77.7

 
—

 
248.8

Intangible assets, net
—

 
—

 
243.9

 
20.3

 
—

 
264.2

Investment in subsidiaries
1,993.2

 
—

 
(331.2
)
 
(591.0
)
 
(1,071.0
)
 
—

Intra-entity receivables, net
—

 
161.0

 
—

 
2,573.0

 
(2,734.0
)
 
—

Other assets
—

 
—

 
173.8

 
22.6

 
—

 
196.4

Deferred tax assets
—

 
—

 
21.8

 
(3.5
)
 
—

 
18.3

Total assets
$
1,993.9

 
$
166.7

 
$
5,443.0

 
$
2,674.0

 
$
(4,176.0
)
 
$
6,101.6

Liabilities, Redeemable convertible preferred shares, and Shareholders’ equity
 
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
Loans and overdrafts
$
—

 
$
—

 
$
5.0

 
$
—

 
$
—

 
$
5.0

Accounts payable
—

 
—

 
259.8

 
74.1

 
—

 
333.9

Intra-entity payables, net
298.3

 
—

 
72.7

 
—

 
(371.0
)
 
—

Accrued expenses and other current liabilities
28.4

 
2.6

 
377.9

 
25.7

 
—

 
434.6

Deferred revenue
—

 
—

 
255.4

 
11.9

 
—

 
267.3

Operating lease liabilities
—

 
—

 
323.1

 
1.8

 
—

 
324.9

Income taxes
—

 
—

 
—

 
17.4

 
—

 
17.4

Total current liabilities
326.7

 
2.6

 
1,293.9

 
130.9

 
(371.0
)
 
1,383.1

Non-current liabilities:
 
 
 
 
 
 
 
 
 
 
 
Long-term debt
—

 
146.3

 
642.5

 
—

 
—

 
788.8

Intra-entity payables, net
—

 
—

 
2,734.0

 
—

 
(2,734.0
)
 
—

Operating lease liabilities
—

 
—

 
1,442.5

 
6.4

 
—

 
1,448.9

Other liabilities
—

 
—

 
116.6

 
3.8

 
—

 
120.4

Deferred revenue
—

 
—

 
693.2

 
—

 
—

 
693.2

Total liabilities
326.7

 
148.9

 
6,922.7

 
141.1

 
(3,105.0
)
 
4,434.4

Series A redeemable convertible preferred shares
616.5

 
—

 
—

 
—

 
—

 
616.5

Total shareholders’ equity (deficit)
1,050.7

 
17.8

 
(1,479.7
)
 
2,532.9

 
(1,071.0
)
 
1,050.7

Total liabilities, redeemable convertible preferred shares and shareholders’ equity
$
1,993.9

 
$
166.7

 
$
5,443.0

 
$
2,674.0

 
$
(4,176.0
)
 
$
6,101.6

Condensed Consolidating Balance Sheet
February 2, 2019

(in millions)
Signet
Jewelers
Limited
 
Signet UK
Finance plc
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
0.2

 
$
0.1

 
$
146.7

 
$
48.4

 
$
—

 
$
195.4

Accounts receivable
—

 
—

 
14.3

 
9.4

 
—

 
23.7

Intra-entity receivables, net
—

 
7.9

 
83.4

 
220.0

 
(311.3
)
 
—

Other current assets
—

 
—

 
215.9

 
28.1

 
—

 
244.0

Income taxes
—

 
—

 
5.1

 
0.7

 
—

 
5.8

Inventories
—

 
—

 
2,302.6

 
84.3

 
—

 
2,386.9

Total current assets
0.2

 
8.0

 
2,768.0

 
390.9

 
(311.3
)
 
2,855.8

Non-current assets:
 
 
 
 
 
 
 
 
 
 
 
Property, plant and equipment, net
—

 
—

 
789.6

 
10.9

 
—

 
800.5

Goodwill
—

 
—

 
206.3

 
90.3

 
—

 
296.6

Intangible assets, net
—

 
—

 
244.0

 
21.0

 
—

 
265.0

Investment in subsidiaries
2,155.7

 
—

 
(15.7
)
 
(305.5
)
 
(1,834.5
)
 
—

Intra-entity receivables, net
—

 
400.0

 
—

 
2,588.0

 
(2,988.0
)
 
—

Other assets
—

 
—

 
164.0

 
17.2

 
—

 
181.2

Deferred tax assets
—

 
—

 
24.5

 
(3.5
)
 
—

 
21.0

Total assets
$
2,155.9

 
$
408.0

 
$
4,180.7

 
$
2,809.3

 
$
(5,133.8
)
 
$
4,420.1

Liabilities, Redeemable convertible preferred shares, and Shareholders’ equity
 
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
Loans and overdrafts
$
—

 
$
(0.7
)
 
$
79.5

 
$
—

 
$
—

 
$
78.8

Accounts payable
—

 
—

 
119.7

 
34.0

 
—

 
153.7

Intra-entity payables, net
311.3

 
—

 
—

 
—

 
(311.3
)
 
—

Accrued expenses and other current liabilities
27.7

 
2.4

 
450.4

 
22.3

 
—

 
502.8

Deferred revenue
—

 
—

 
257.6

 
12.4

 
—

 
270.0

Income taxes
—

 
0.8

 
26.4

 
0.5

 
—

 
27.7

Total current liabilities
339.0

 
2.5

 
933.6

 
69.2

 
(311.3
)
 
1,033.0

Non-current liabilities:
 
 
 
 
 
 
 
 
 
 
 
Long-term debt
—

 
396.0

 
253.6

 
—

 
—

 
649.6

Intra-entity payables, net
—

 
—

 
2,988.0

 
—

 
(2,988.0
)
 
—

Other liabilities
—

 
—

 
219.4

 
4.7

 
—

 
224.1

Deferred revenue
—

 
—

 
696.5

 
—

 
—

 
696.5

Total liabilities
339.0

 
398.5

 
5,091.1

 
73.9

 
(3,299.3
)
 
2,603.2

Series A redeemable convertible preferred shares
615.3

 
—

 
—

 
—

 
—

 
615.3

Total shareholders’ equity (deficit)
1,201.6

 
9.5

 
(910.4
)
 
2,735.4

 
(1,834.5
)
 
1,201.6

Total liabilities, redeemable convertible preferred shares and shareholders’ equity
$
2,155.9

 
$
408.0

 
$
4,180.7

 
$
2,809.3

 
$
(5,133.8
)
 
$
4,420.1



Condensed Consolidating Balance Sheet
November 3, 2018
(Unaudited)
(in millions)
Signet
Jewelers
Limited
 
Signet UK
Finance plc
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
0.5

 
$
0.1

 
$
67.5

 
$
62.6

 
$
—

 
$
130.7

Accounts receivable
—

 
—

 
11.7

 
2.4

 
—

 
14.1

Intra-entity receivables, net
—

 
7.7

 
—

 
235.8

 
(243.5
)
 
—

Other current assets
—

 
—

 
191.5

 
26.7

 
—

 
218.2

Inventories
—

 
—

 
2,568.6

 
78.5

 
—

 
2,647.1

Total current assets
0.5

 
7.8

 
2,839.3

 
406.0

 
(243.5
)
 
3,010.1

Non-current assets:
 
 
 
 
 
 
 
 
 
 
 
Property, plant and equipment, net
—

 
—

 
801.7

 
8.7

 
—

 
810.4

Goodwill
—

 
—

 
206.3

 
302.7

 
—

 
509.0

Intangible assets, net
—

 
—

 
266.4

 
73.8

 
—

 
340.2

Investment in subsidiaries
2,085.2

 
—

 
250.3

 
(264.3
)
 
(2,071.2
)
 
—

Intra-entity receivables, net
—

 
400.0

 
—

 
2,593.0

 
(2,993.0
)
 
—

Other assets
—

 
—

 
183.9

 
17.7

 
—

 
201.6

Deferred tax assets
—

 
—

 
52.5

 
(16.3
)
 
—

 
36.2

Total assets
$
2,085.7

 
$
407.8

 
$
4,600.4

 
$
3,121.3

 
$
(5,307.7
)
 
$
4,907.5

Liabilities, Redeemable convertible preferred shares, and Shareholders’ equity
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
Loans and overdrafts
$
—

 
$
(0.7
)
 
$
323.3

 
$
—

 
$
—

 
$
322.6

Accounts payable
—

 
—

 
310.5

 
29.1

 
—

 
339.6

Intra-entity payables, net
94.4

 
—

 
149.1

 
—

 
(243.5
)
 
—

Accrued expenses and other current liabilities
27.5

 
7.1

 
380.1

 
16.6

 
—

 
431.3

Deferred revenue
—

 
—

 
243.3

 
9.8

 
—

 
253.1

Income taxes
—

 
—

 
—

 
19.1

 
—

 
19.1

Total current liabilities
121.9

 
6.4

 
1,406.3

 
74.6

 
(243.5
)
 
1,365.7

Non-current liabilities:
 
 
 
 
 
 
 
 
 
 
 
Long-term debt
—

 
395.8

 
264.6

 
—

 
—

 
660.4

Intra-entity payables, net
—

 
—

 
2,993.0

 
—

 
(2,993.0
)
 
—

Other liabilities
—

 
—

 
228.0

 
5.2

 
—

 
233.2

Deferred revenue
—

 
—

 
671.7

 
—

 
—

 
671.7

Deferred tax liabilities
—

 
—

 
12.6

 
0.1

 
—

 
12.7

Total liabilities
121.9

 
402.2

 
5,576.2

 
79.9

 
(3,236.5
)
 
2,943.7

Series A redeemable convertible preferred shares
614.8

 
—

 
—

 
—

 
—

 
614.8

Total shareholders’ equity (deficit)
1,349.0

 
5.6

 
(975.8
)
 
3,041.4

 
(2,071.2
)
 
1,349.0

Total liabilities, redeemable convertible preferred shares and shareholders’ equity
$
2,085.7

 
$
407.8

 
$
4,600.4

 
$
3,121.3

 
$
(5,307.7
)
 
$
4,907.5




Condensed Consolidating Statement of Cash Flows
For the 39 weeks ended November 2, 2019
(Unaudited)

(in millions)
Signet
Jewelers
Limited
 
Signet UK
Finance plc
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
95.2

 
$
0.9

 
$
(50.2
)
 
$
214.1

 
$
(146.5
)
 
$
113.5

Investing activities
 
 
 
 
 
 
 
 
 
 
 
Purchase of property, plant and equipment
—

 
—

 
(95.3
)
 
—

 
—

 
(95.3
)
Investment in subsidiaries
—

 
—

 
—

 
50.0

 
(50.0
)
 
—

Purchase of available-for-sale securities
—

 
—

 
—

 
(11.7
)
 
—

 
(11.7
)
Proceeds from available-for-sale securities
—

 
—

 
—

 
7.1

 
—

 
7.1

Net cash provided by (used in) investing activities
—

 
—

 
(95.3
)
 
45.4

 
(50.0
)
 
(99.9
)
Financing activities
 
 
 
 
 
 
 
 
 
 
 
Dividends paid on common shares
(58.0
)
 
—

 
—

 
—

 
—

 
(58.0
)
Dividends paid on redeemable convertible preferred shares
(23.4
)
 
—

 
—

 
—

 
—

 
(23.4
)
Intra-entity dividends paid
—

 
—

 
—

 
(146.5
)
 
146.5

 
—

Proceeds from term loans
—

 
—

 
100.0

 
—

 
—

 
100.0

Repayments of term loans
—

 
—

 
(294.9
)
 
—

 
—

 
(294.9
)
Settlement of senior notes, including third party fees
—

 
(240.9
)
 
—

 
—

 
—

 
(240.9
)
Proceeds from revolving credit facilities
—

 
—

 
562.0

 
—

 
—

 
562.0

Repayments of revolving credit facilities
—

 
—

 
(19.0
)
 
—

 
—

 
(19.0
)
Payment of debt issuance costs
—

 
—

 
(7.3
)
 
—

 
—

 
(7.3
)
Repayments of bank overdrafts
—

 
—

 
(35.0
)
 
—

 
—

 
(35.0
)
Other financing activities
1.0

 
—

 
—

 
—

 
—

 
1.0

Intra-entity activity, net
(14.3
)
 
240.0

 
(167.4
)
 
(108.3
)
 
50.0

 
—

Net cash provided by (used in) financing activities
(94.7
)
 
(0.9
)
 
138.4

 
(254.8
)
 
196.5

 
(15.5
)
Cash and cash equivalents at beginning of period
0.2

 
0.1

 
146.7

 
48.4

 
—

 
195.4

Increase (decrease) in cash and cash equivalents
0.5

 
—

 
(7.1
)
 
4.7

 
—

 
(1.9
)
Effect of exchange rate changes on cash and cash equivalents
—

 
—

 
(4.6
)
 
(0.3
)
 
—

 
(4.9
)
Cash and cash equivalents at end of period
$
0.7

 
$
0.1

 
$
135.0

 
$
52.8

 
$
—

 
$
188.6


Condensed Consolidating Statement of Cash Flows
For the 39 weeks ended November 3, 2018
(Unaudited)

(in millions)
Signet
Jewelers
Limited
 
Signet UK
Finance plc
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
466.6

 
$
4.8

 
$
61.2

 
$
251.4

 
$
(470.5
)
 
$
313.5

Investing activities
 
 
 
 
 
 
 
 
 
 
 
Purchase of property, plant and equipment
—

 
—

 
(91.1
)
 
(2.3
)
 
—

 
(93.4
)
Proceeds from sale of assets
—

 
—

 
—

 
5.5

 
—

 
5.5

Purchase of available-for-sale securities
—

 
—

 
—

 
(0.6
)
 
—

 
(0.6
)
Proceeds from available-for-sale securities
—

 
—

 
—

 
9.0

 
—

 
9.0

Net cash provided by (used in) investing activities
—

 
—

 
(91.1
)
 
11.6

 
—

 
(79.5
)
Financing activities
 
 
 
 
 
 
 
 
 
 
 
Dividends paid on common shares
(59.8
)
 
—

 
—

 
—

 
—

 
(59.8
)
Dividends paid on redeemable convertible preferred shares
(23.4
)
 
—

 
—

 
—

 
—

 
(23.4
)
Intra-entity dividends paid
—

 
—

 
—

 
(470.5
)
 
470.5

 
—

Repurchase of common shares
(485.0
)
 
—

 
—

 
—

 
—

 
(485.0
)
Repayments of term loans
—

 
—

 
(22.3
)
 
—

 
—

 
(22.3
)
Proceeds from revolving credit facilities
—

 
—

 
698.0

 
—

 
—

 
698.0

Repayments of revolving credit facilities
—

 
—

 
(416.0
)
 
—

 
—

 
(416.0
)
Repayments of bank overdrafts
—

 
—

 
(10.1
)
 
—

 
—

 
(10.1
)
Other financing activities
(2.1
)
 
—

 
—

 
—

 
—

 
(2.1
)
Intra-entity activity, net
102.5

 
(4.8
)
 
(295.3
)
 
197.6

 
—

 
—

Net cash provided by (used in) financing activities
(467.8
)
 
(4.8
)
 
(45.7
)
 
(272.9
)
 
470.5

 
(320.7
)
Cash and cash equivalents at beginning of period
1.7

 
0.1

 
150.5

 
72.8

 
—

 
225.1

Increase (decrease) in cash and cash equivalents
(1.2
)
 
—

 
(75.6
)
 
(9.9
)
 
—

 
(86.7
)
Effect of exchange rate changes on cash and cash equivalents
—

 
—

 
(7.4
)
 
(0.3
)
 
—

 
(7.7
)
Cash and cash equivalents at end of period
$
0.5

 
$
0.1

 
$
67.5

 
$
62.6

 
$
—

 
$
130.7