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Accounts receivable, net (Tables)
9 Months Ended
Nov. 01, 2014
Accounts Receivable By Portfolio Segment, Net
(in millions)    November 1,
2014
     February 1,
2014
     November 2,
2013
 

Accounts receivable by portfolio segment, net:

        

Sterling Jewelers customer in-house finance receivables

   $ 1,280.3       $ 1,356.0       $ 1,111.8   

Other accounts receivable

     11.8         18.0         11.7   
  

 

 

    

 

 

    

 

 

 

Total accounts receivable, net

   $ 1,292.1       $ 1,374.0       $ 1,123.5   
  

 

 

    

 

 

    

 

 

 
Allowance for Credit Losses on Sterling Jewelers' Customer In-House Finance Receivables

Allowance for credit losses on Sterling Jewelers’ customer in-house finance receivables:

 

(in millions)    39 weeks
ended
November 1,
2014
    52 weeks
ended
February 1,
2014
    39 weeks
ended
November 2,
2013
 

Beginning balance

   $ (97.8 )   $ (87.7   $ (87.7 )

Charge-offs

     101.0       128.2       91.0  

Recoveries

     22.1       26.0       19.9  

Provision expense

     (127.9 )     (164.3     (112.8 )
  

 

 

   

 

 

   

 

 

 

Ending balance

   $ (102.6 )   $ (97.8   $ (89.6 )

Ending receivable balance evaluated for impairment

     1,382.9       1,453.8       1,201.4  
  

 

 

   

 

 

   

 

 

 

Sterling Jewelers’ customer in-house finance receivables, net

   $ 1,280.3     $ 1,356.0     $ 1,111.8  
  

 

 

   

 

 

   

 

 

 
Credit Quality Indicator and Age Analysis of Past Due Sterling Jewelers' Customer In-House Finance Receivables

Credit quality indicator and age analysis of past due Sterling Jewelers’ customer in-house finance receivables:

 

                                                                                                     
     November 1,
2014
    February 1,
2014
    November 2,
2013
 
(in millions)    Gross     Valuation
allowance
    Gross     Valuation
allowance
    Gross     Valuation
allowance
 

Performing:

            

Current, aged 0-30 days

   $ 1,087.9      $ (33.2 )   $ 1,170.4      $ (36.3   $ 946.9      $ (29.0

Past due, aged 31-90 days

     233.8        (8.2 )     229.9        (8.0     201.1        (7.2

Non Performing:

            

Past due, aged more than 90 days

     61.2        (61.2 )     53.5        (53.5     53.4        (53.4
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
   $ 1,382.9      $ (102.6   $ 1,453.8      $ (97.8   $ 1,201.4      $ (89.6
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
    

 

November 1,
2014

   

 

February 1,
2014

   

 

November 2,
2013

 
(as a percentage of the ending receivable balance)    Gross     Valuation
allowance
    Gross     Valuation
allowance
    Gross     Valuation
allowance
 

Performing

     95.6     3.1     96.3     3.2     95.6     3.2

Non Performing

     4.4     100.0     3.7     100.0     4.4     100.0
     100.0     7.4     100.0     6.7     100.0     7.5