15. Accrued expenses and other current liabilities


	February 1, 2014		February 2, 2013
(in millions)
Accrued compensation	$	81.3	$	85.9
Other liabilities		50.1		48.7
Other taxes		31.7		31.9
Payroll taxes		8.0		7.4
Accrued expenses		157.4		152.5

Total accrued expenses and other current liabilities	$	328.5	$	326.4

Sales returns reserve included in accrued expenses above:


	Balance at beginning of period		Net adjustment⁽¹⁾			Balance at end of period
(in millions)
Fiscal 2012	$	7.7	$	(0.4	)	$	7.3
Fiscal 2013		7.3		0.3			7.6
Fiscal 2014		7.6		0.8			8.4

(1)	Net adjustment relates to sales returns previously provided for and changes in estimate and the impact of foreign exchange translation between opening and closing balance sheet dates.

The US division provides a product lifetime diamond and color 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, Signet 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. Warranty reserve for diamond and gemstone guarantee were as follows:


	Balance at beginning of period		Warranty expense		Utilized			Balance at end of period
(in millions)
Fiscal 2012	$	13.0	$	7.9	$	(5.8	)	$	15.1
Fiscal 2013		15.1		8.6		(5.2	)		18.5
Fiscal 2014		18.5		7.4		(6.8	)		19.1


Disclosed as:	February 1, 2014		February 2, 2013
(in millions)
Current liabilities⁽¹⁾	$	6.7	$	6.9
Non-current liabilities (see Note 17)		12.4		11.6

Total warranty reserve	$	19.1	$	18.5

(1)	Included within accrued expenses above.