Fair value measurement (Tables)

9 Months Ended

Oct. 31, 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:

	October 31, 2020						February 1, 2020						November 2, 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	$	6.3	$	6.3	$	—	$	7.2	$	7.2	$	—	$	7.2	$	7.2	$	—
Foreign currency contracts	—		—		—		0.6		—		0.6		0.4		—		0.4
Commodity contracts	—		—		—		11.8		—		11.8		10.4		—		10.4
US government agency securities	3.7		—		3.7		4.7		—		4.7		4.9		—		4.9
Corporate bonds and notes	7.3		—		7.3		8.5		—		8.5		8.5		—		8.5
Total assets	$	17.3	$	6.3	$	11.0	$	32.8	$	7.2	$	25.6	$	31.4	$	7.2	$	24.2
Liabilities:
Foreign currency contracts	$	(0.5)	$	—	$	(0.5)	$	(0.9)	$	—	$	(0.9)	$	(0.9)	$	—	$	(0.9)
Commodity contracts	—		—		—		—		—		—		(0.2)		—		(0.2)
Total liabilities	$	(0.5)	$	—	$	(0.5)	$	(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:

	October 31, 2020				February 1, 2020				November 2, 2019
(in millions)	Carrying Value		Fair Value		Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt:
Senior notes (Level 2)	$	146.7	$	130.8	$	146.4	$	144.8	$	146.3	$	139.3
Term loans (Level 2)	99.5		100.0		99.5		100.0		99.4		100.0
Total	$	246.2	$	230.8	$	245.9	$	244.8	$	245.7	$	239.3