Inventories

12 Months Ended

Jan. 30, 2021

The following table summarizes the details of the Company’s inventory:


(in millions)	January 30, 2021		February 1, 2020
Raw materials	$	45.3	$	56.2
Finished goods	1,987.2		2,275.5
Total inventories	$	2,032.5	$	2,331.7

Signet held $387.4 million of consignment inventory at January 30, 2021 (February 1, 2020: $625.7 million), which is not recorded on the consolidated balance sheets. The principal terms of the consignment agreements, which can generally be terminated by either party, are such that Signet can return any or all of the inventory to the relevant suppliers without financial or commercial penalties and the supplier can adjust the inventory prices prior to sale.

Inventory reserves


(in millions)	Fiscal 2021		Fiscal 2020		Fiscal 2019
Inventory reserve, beginning of period	$	67.0	$	95.3	$	40.6
Charged to income(1)	78.1		80.2		131.4
Utilization(2)	(92.2)		(108.5)		(76.7)
Inventory reserve, end of period(3)	$	52.9	$	67.0	$	95.3

(1) Includes $1.4 million in Fiscal 2021, $9.2 million in Fiscal 2020, and $62.2 million in Fiscal 2019 for inventory charges associated with the Company’s restructuring plan. The charges were primarily associated with discontinued brands and collections within the restructuring - cost of sales line item on the consolidated statements of operations. See Note 6 for additional information.

(2) Includes the impact of foreign exchange translation between opening and closing balance sheet dates, as well as $20.0 million in Fiscal 2021, $40.0 million in Fiscal 2020, and $10.6 million in Fiscal 2019 utilized for inventory identified as part of the Company’s restructuring plan. See Note 6 for additional information.

(3) Includes $2.2 million for Fiscal 2021, $20.8 million in Fiscal 2020, and $51.6 million in Fiscal 2019 for inventory identified as part of the Company’s restructuring plan. See Note 6 for additional information.