Warranty Reserve

9 Months Ended

Oct. 29, 2022

Other Liabilities Disclosure [Abstract]

Warranty Reserve

Warranty reserve

Certain businesses within the North America reportable segment provide a product lifetime diamond 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. A similar product lifetime guarantee is also provided on color gemstones. The warranty reserve for diamond and gemstone guarantees, included in accrued expenses and other current liabilities and other liabilities - non-current, is as follows:

	13 weeks ended				39 weeks ended
(in millions)	October 29, 2022		October 30, 2021		October 29, 2022		October 30, 2021
Warranty reserve, beginning of period	$	38.5	$	34.7	$	36.0	$	37.3
Warranty expense	4.1		2.6		12.2		4.8
Utilized (1)	(3.0)		(2.6)		(8.6)		(7.4)
Warranty reserve, end of period	$	39.6	$	34.7	$	39.6	$	34.7

(1)     Includes impact of foreign exchange translation.

(in millions)	October 29, 2022		January 29, 2022		October 30, 2021
Disclosed as:
Accrued expense and other current liabilities	$	11.0	$	10.2	$	9.9
Other liabilities - non-current	28.6		25.8		24.8
Total warranty reserve	$	39.6	$	36.0	$	34.7