Fair value measurement (Tables)

3 Months Ended

May 01, 2021

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:

	May 1, 2021						January 30, 2021						May 2, 2020
(in millions)	Carrying Value		Level 1		Level 2		Carrying Value		Level 1		Level 2		Carrying Value		Level 1		Level 2
Assets:
US Treasury securities	$	5.1	$	5.1	$	—	$	5.7	$	5.7	$	—	$	7.4	$	7.4	$	—
Foreign currency contracts	0.2		—		0.2		0.1		—		0.1		0.1		—		0.1
US government agency securities	3.1		—		3.1		3.2		—		3.2		4.0		—		4.0
Corporate bonds and notes	6.2		—		6.2		6.5		—		6.5		8.0		—		8.0
Total assets	$	14.6	$	5.1	$	9.5	$	15.5	$	5.7	$	9.8	$	19.5	$	7.4	$	12.1
Liabilities:
Foreign currency contracts	$	(0.8)	$	—	$	(0.8)	$	(0.3)	$	—	$	(0.3)	$	(0.3)	$	—	$	(0.3)
Commodity contracts	—		—		—		(0.1)		—		(0.1)		—		—		—
Total liabilities	$	(0.8)	$	—	$	(0.8)	$	(0.4)	$	—	$	(0.4)	$	(0.3)	$	—	$	(0.3)

Schedule of Carrying Values and Estimated Fair Values

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

	May 1, 2021				January 30, 2021				May 2, 2020
(in millions)	Carrying Value		Fair Value		Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt:
Senior notes (Level 2)	$	146.8	$	150.8	$	146.7	$	145.1	$	146.5	$	97.1
Term loans (Level 2)	—		—		—		—		99.5		100.0
Total	$	146.8	$	150.8	$	146.7	$	145.1	$	246.0	$	197.1