Fair value measurement (Tables)

6 Months Ended

Aug. 01, 2020

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping

The methods Signet uses to determine fair value on an instrument-specific basis are detailed below:

	August 1, 2020						February 1, 2020						August 3, 2019
(in millions)	Carrying Value		Level 1		Level 2		Carrying Value		Level 1		Level 2		Carrying Value		Level 1		Level 2
Assets:
US Treasury securities	$	6.4	$	6.4	$	—	$	7.2	$	7.2	$	—	$	7.8	$	7.8	$	—
Corporate equity securities	—		—		—		—		—		—		3.2		3.2		—
Foreign currency contracts	2.3		—		2.3		0.6		—		0.6		1.1		—		1.1
Commodity contracts	—		—		—		11.8		—		11.8		9.9		—		9.9
US government agency securities	3.7		—		3.7		4.7		—		4.7		5.8		—		5.8
Corporate bonds and notes	7.6		—		7.6		8.5		—		8.5		9.4		—		9.4
Total assets	$	20.0	$	6.4	$	13.6	$	32.8	$	7.2	$	25.6	$	37.2	$	11.0	$	26.2
Liabilities:
Foreign currency contracts	$	—	$	—	$	—	$	(0.9)	$	—	$	(0.9)	$	(1.1)	$	—	$	(1.1)
Total liabilities	$	—	$	—	$	—	$	(0.9)	$	—	$	(0.9)	$	(1.1)	$	—	$	(1.1)

Schedule of Carrying Values and Estimated Fair Values

The following table provides a summary of the carrying amount and fair value of outstanding debt:

	August 1, 2020				February 1, 2020				August 3, 2019
(in millions)	Carrying Value		Fair Value		Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt:
Senior notes (Level 2)	$	146.6	$	107.2	$	146.4	$	144.8	$	395.7	$	349.2
Term loans (Level 2)	99.5		100.0		99.5		100.0		275.7		277.1
Total	$	246.1	$	207.2	$	245.9	$	244.8	$	671.4	$	626.3