Warranty reserve

6 Months Ended

Jul. 31, 2021

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				26 weeks ended
(in millions)	July 31, 2021		August 1, 2020		July 31, 2021		August 1, 2020
Warranty reserve, beginning of period	$	35.5	$	37.3	$	37.3	$	36.3
Warranty expense	1.5		0.8		2.2		4.0
Utilized (1)	(2.3)		(0.8)		(4.8)		(3.0)
Warranty reserve, end of period	$	34.7	$	37.3	$	34.7	$	37.3

(1)     Includes impact of foreign exchange translation.

(in millions)	July 31, 2021		January 30, 2021		August 1, 2020
Disclosed as:
Current liabilities	$	9.9	$	10.7	$	11.0
Non-current liabilities	24.8		26.6		26.3
Total warranty reserve	$	34.7	$	37.3	$	37.3