Segment information (Tables)

12 Months Ended

Jan. 29, 2022

Segment Reporting Information, By Segment


(in millions)	Fiscal 2022		Fiscal 2021		Fiscal 2020
Sales:
North America segment (1)	$	7,264.8	$	4,840.9	$	5,565.8
International segment	492.4		355.9		518.0
Other segment	68.8		30.1		53.3
Total sales	$	7,826.0	$	5,226.9	$	6,137.1

Operating income (loss):
North America segment (2)	$	981.4	$	57.9	$	284.9
International segment (3)	14.4		(43.3)		9.0
Other segment (4)	(0.2)		(0.3)		(15.9)
Corporate and unallocated expenses (5)	(92.2)		(72.0)		(119.7)
Total operating income (loss)	903.4		(57.7)		158.3
Interest expense	(16.9)		(32.0)		(35.6)
Other non-operating (loss) income	(2.1)		—		7.0
Income (loss) before income taxes	$	884.4	$	(89.7)	$	129.7

Depreciation and amortization:
North America segment	$	149.2	$	163.7	$	159.9
International segment	14.0		12.0		17.8
Other segment	0.3		0.3		0.3
Total depreciation and amortization	$	163.5	$	176.0	$	178.0

Capital additions:
North America segment	$	112.6	$	79.0	$	128.3
International segment	16.6		4.0		8.0
Other segment	0.4		—		—
Total capital additions	$	129.6	$	83.0	$	136.3

(1) Sales include sales of $206.2 million, $150.9 million and $204.6 million generated by Canadian operations in Fiscal 2022, Fiscal 2021 and Fiscal 2020, respectively.

(2) Fiscal 2022 includes: 1) $5.4 million of cost of sales associated with the fair value step-up of inventory acquired in the Diamonds Direct acquisition; 2) $6.4 million of acquisition-related expenses related to Diamonds Direct and Rocksbox; 3) net asset impairment charges of $2.0 million; 4) $1.4 million of gains associated with the sale of customer in-house finance receivables; and 5) $1.0 million credit to restructuring expense, primarily related to adjustments to previously recognized restructuring liabilities.

Fiscal 2021 includes: 1) $1.6 million related to inventory charges recorded in conjunction with the Company’s restructuring activities; 2) $36.0 million primarily related to severance, professional fees and store closure costs recorded in conjunction with the Company’s restructuring activities; and 3) asset impairment charges of $136.7 million.

Fiscal 2020 includes: 1) $6.0 million related to inventory charges recorded in conjunction with the Company’s restructuring activities; 2) $42.1 million primarily related to severance, professional fees and store closure costs recorded in conjunction with the Company’s restructuring activities; and 3) asset impairment charges of $47.7 million.

See Note 4, Note 6, Note 13, Note 17 and Note 19 for additional information.

(3) Fiscal 2022 includes net asset impairment gains of $0.5 million.

Fiscal 2021 includes 1) $9.7 million primarily related to severance and store closure costs recorded in conjunction with the Company’s restructuring activities; and 2) asset impairment charges of $22.3 million.

Fiscal 2020 includes $7.0 million primarily related to severance and store closure costs recorded in conjunction with the Company’s restructuring activities.

See Note 6 and Note 17 for additional information.

(4) Fiscal 2021 includes $0.2 million benefit recognized due to a change in inventory reserves previously recognized as part of the Company’s restructuring activities.

Fiscal 2020 includes $3.2 million related to inventory charges recorded in conjunction with the Company’s restructuring activities.

See Note 6 for additional information.

(5) Fiscal 2022 includes: 1) charges of $1.7 million related to the settlement of previously disclosed shareholder litigation matters; and 2) $2.3 million credit to restructuring expense primarily related to adjustments to previously recognized restructuring liabilities.

Fiscal 2021 includes: 1) charges of $7.5 million related to the settlement of previously disclosed shareholder litigation matters, net of expected insurance proceeds; and 2) $0.5 million related to charges recorded in conjunction with the Company’s restructuring activities.

Fiscal 2020 includes: 1) charges of $33.2 million related to the settlement of previously disclosed shareholder litigation matters, inclusive of expected insurance proceeds; and 2) $20.8 million related to charges recorded in conjunction with the Company’s restructuring activities.

See Note 6 and Note 28 for additional information.


(in millions)	January 29, 2022		January 30, 2021
Total assets:
North America segment	$	5,540.1	$	5,101.9
International segment	438.2		514.2
Other segment	81.2		44.9
Corporate and unallocated	515.6		517.9
Total assets	$	6,575.1	$	6,178.9

Total long-lived assets (1):
North America segment	$	1,328.4	$	978.1
International segment	43.4		41.6
Other segment	2.9		2.8
Total long-lived assets	$	1,374.7	$	1,022.5

(1) Includes property, plant and equipment; goodwill; and other intangible assets.