Warranty reserve

9 Months Ended

Oct. 31, 2020

Other Liabilities Disclosure [Abstract]

Warranty reserve

Warranty reserve

Specific merchandise sold by banners within the North America segment includes a product lifetime diamond or colored gemstone 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. Management estimates the warranty accrual based on the lag of actual claims experience and the costs of such claims, inclusive of labor and material. The warranty reserve for diamond and gemstone guarantee, included in accrued expenses and other current liabilities and other non-current liabilities, is as follows:

	13 weeks ended				39 weeks ended
(in millions)	October 31, 2020		November 2, 2019		October 31, 2020		November 2, 2019
Warranty reserve, beginning of period	$	37.3	$	34.1	$	36.3	$	33.2
Warranty expense	1.5		5.4		5.5		11.4
Utilized (1)	(2.2)		(3.0)		(5.2)		(8.1)
Warranty reserve, end of period	$	36.6	$	36.5	$	36.6	$	36.5

(1)     Includes impact of foreign exchange translation.

(in millions)	October 31, 2020		February 1, 2020		November 2, 2019
Disclosed as:
Current liabilities	$	10.6	$	10.6	$	10.8
Non-current liabilities	26.0		25.7		25.7
Total warranty reserve	$	36.6	$	36.3	$	36.5