Deferred revenue and warranty reserve

6 Months Ended

Jul. 28, 2012

Deferred revenue and warranty reserve

7. Deferred revenue and warranty reserve

Deferred revenue

Deferred revenue is comprised primarily of extended service plans (“ESP”) and voucher promotions as follows:

	July 28, 2012 $million		January 28, 2012 $million		July 30, 2011 $million
ESP deferred revenue		523.7		511.7		490.5
Voucher promotions		3.5		16.4		4.9
Total deferred revenue		527.2		528.1		495.4
Disclosed as:
Current liabilities		145.3		154.1		135.9
Non-current liabilities		381.9		374.0		359.5
Total deferred revenue		527.2		528.1		495.4

In addition, other current assets include deferred direct costs in relation to the sale of ESP of $21.2 million as of July 28, 2012 (January 28, 2012 and July 30, 2011: $20.2 million and $19.3 million, respectively). Other assets include the long-term portion of these deferred direct costs of $53.7 million as of July 28, 2012 (January 28, 2012 and July 30, 2011: $52.8 million and $50.4 million, respectively).

	13 weeks ended						26 weeks ended
	July 28, 2012 $million			July 30, 2011 $million			July 28, 2012 $million			July 30, 2011 $million
ESP deferred revenue, beginning of period		520.7			491.0			511.7			481.1
Plans sold		44.4			38.4			94.2			86.6
Revenues recognized		(41.4	)		(38.9	)		(82.2	)		(77.2	)
ESP deferred revenue, end of period		523.7			490.5			523.7			490.5

Warranty reserve

The warranty reserve for diamond and gemstone guarantees provided by the US division, included in accrued expenses and other current liabilities, is as follows:

	13 weeks ended						26 weeks ended
	July 28, 2012 $million			July 30, 2011 $million			July 28, 2012 $million			July 30, 2011 $million
Warranty reserve, beginning of period		15.1			13.1			15.1			13.0
Warranty expense		4.6			0.8			6.1			2.4
Utilized		(2.1	)		(1.2	)		(3.6	)		(2.7	)
Warranty reserve, end of period		17.6			12.7			17.6			12.7

	July 28, 2012 $million		January 28, 2012 $million		July 30, 2011 $million
Disclosed as:
Current liabilities		6.7		5.9		5.0
Non-current liabilities		10.9		9.2		7.7
Total warranty reserve		17.6		15.1		12.7