Deferred Revenue

3 Months Ended

May 04, 2013

9. Deferred revenue

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


(in millions)	May 4, 2013		February 2, 2013		April 28, 2012
ESP deferred revenue	$	563.4	$	549.7	$	520.7
Voucher promotions and other		10.1		15.9		10.2

Total deferred revenue	$	573.5	$	565.6	$	530.9

Disclosed as:
Current liabilities	$	157.6	$	159.7	$	150.5
Non-current liabilities		415.9		405.9		380.4

Total deferred revenue	$	573.5	$	565.6	$	530.9

In addition, other current assets include deferred direct costs in relation to the sale of ESP of $20.8 million as of May 4, 2013 (February 2, 2013 and April 28, 2012: $20.9 million and $21.0 million, respectively). Other assets include the long-term portion of these deferred direct costs of $58.6 million as of May 4, 2013 (February 2, 2013 and April 28, 2012: $56.9 million and $53.3 million, respectively).


	13 weeks ended
(in millions)	May 4, 2013			April 28, 2012
ESP deferred revenue, beginning of period	$	549.7		$	511.7
Plans sold		55.3			49.8
Revenue recognized		(41.6	)		(40.8	)

ESP deferred revenue, end of period	$	563.4		$	520.7

- Definition

The entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.

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