Accounts receivable, net (Tables)

12 Months Ended

Jan. 30, 2021

Receivables [Abstract]

Accounts Receivable by Portfolio Segment, Net

The following table presents the components of Signet’s accounts receivable:

(in millions)	January 30, 2021		February 1, 2020
Customer in-house finance receivables, net	$	72.0	$	—
Accounts receivable, trade	11.6		34.4
Accounts receivable, held for sale	5.1		4.4
Accounts receivable, net	$	88.7	$	38.8

Financing Receivable Credit Quality Indicators

The following table disaggregates the Company’s customer in-house finance receivables by credit quality and vintage year as of January 30, 2021:

(in millions)	Year of origination
Credit quality	Fiscal 2021
Near Prime	$	46.6
Subprime	38.9
Deep Subprime	12.0
Total at amortized cost	$	97.5

Summary of Allowance for Credit Losses

The following table is a rollforward of the Company’s allowance for credit losses on customer in-house finance receivables:

(in millions)	Fiscal 2021
Beginning balance	$	—
Provision for credit losses	26.1
Write-offs	(0.6)
Recoveries	—
Ending balance	$	25.5

Prior to completion of the Credit Transaction, the activity in Fiscal 2019 related to the allowance for credit losses on Sterling customer in-house finance receivables is shown below. There was no activity in Fiscal 2020 as the completion of the sale of in-house finance receivables occurred in June 2018.

(in millions)	Fiscal 2019
Beginning balance	$	113.5
Charge-offs, net	(56.3)
Recoveries	(4.2)
Provision	54.6
Reversal of allowance on receivables sold	(107.6)
Ending balance	$	—

Financing Receivable, Past Due

The following table disaggregates the Company’s customer in-house finance receivables by past due status as of January 30, 2021:

(in millions)
Current	$	81.3
1 - 30 days past due	9.1
31 - 60 days past due	2.6
61 - 90 days past due	1.7
Greater than 90 days past due	2.8
Total at amortized cost	$	97.5