Deferred revenue

3 Months Ended

Apr. 29, 2017

Deferred Revenue Disclosure [Abstract]

Deferred revenue is comprised primarily of ESP and voucher promotions and other as follows:



(in millions)	April 29, 2017		January 28, 2017		April 30, 2016
Sterling Jewelers ESP deferred revenue	$	736.0	$	737.4	$	723.8
Zale ESP deferred revenue	167.7		168.2		155.1
Voucher promotions and other	27.0		30.3		26.9
Total deferred revenue	$	930.7	$	935.9	$	905.8

Disclosed as:
Current liabilities	$	272.1	$	276.9	$	261.4
Non-current liabilities	658.6		659.0		644.4
Total deferred revenue	$	930.7	$	935.9	$	905.8

ESP deferred revenue



	13 weeks ended
(in millions)	April 29, 2017			April 30, 2016
Sterling Jewelers ESP deferred revenue, beginning of period	$	737.4		$	715.1
Plans sold	65.3			76.0
Revenue recognized	(66.7		)	(67.3		)
Sterling Jewelers ESP deferred revenue, end of period	$	736.0		$	723.8



	13 weeks ended
(in millions)	April 29, 2017			April 30, 2016
Zale ESP deferred revenue, beginning of period	$	168.2		$	146.1
Plans sold⁽¹⁾	31.3			40.6
Revenue recognized	(31.8		)	(31.6		)
Zale ESP deferred revenue, end of period	$	167.7		$	155.1


⁽¹⁾	Includes impact of foreign exchange translation.

- 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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