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Accounts Receivable, Net (Tables)
 12 Months Ended
Feb. 03, 2018
Receivables [Abstract]  
Accounts Receivable by Portfolio Segment, Net
(in millions)
February 3, 2018
 
January 28, 2017
Accounts receivable by portfolio segment, net:
 
 
 
Sterling Jewelers customer in-house finance receivables
$
649.4

 
$
1,813.3

Zale customer in-house finance receivables
33.5

 
33.4

Other accounts receivable
9.6

 
11.3

Total accounts receivable, net
$
692.5

 
$
1,858.0
Summary of Allowance for Credit Losses
The allowance for credit losses on Sterling Jewelers remaining customer in-house finance receivables is shown below:
(in millions)
Fiscal 2018
 
Fiscal 2017
 
Fiscal 2016
Beginning balance:
$
(138.7
)
 
$
(130.0
)
 
$
(113.1
)
Charge-offs, net
221.2

 
203.4

 
173.6

Recoveries
34.3

 
35.1

 
35.3

Provision
(251.0
)
 
(247.2
)
 
(225.8
)
Reversal of allowance on receivables sold
20.7

 
—

 
—

Ending balance
(113.5
)
 
(138.7
)
 
(130.0
)
Ending receivable balance evaluated for impairment
762.9

 
1,952.0

 
1,855.9

Sterling Jewelers customer in-house finance receivables, net
649.4

 
1,813.3

 
1,725.9
Credit Quality Indicator and Age Analysis of Past Due Receivables
The credit quality indicator and age analysis of Sterling Jewelers customer in-house finance receivables are shown below under the contractual basis:
   
February 3, 2018
(in millions)
Gross
 
Valuation
allowance
Performing (accrual status):
 
 
 
0 - 120 days past due
$
703.4

 
$
(54.0
)
121 or more days past due
59.5

 
(59.5
)
 
$
762.9

 
$
(113.5
)
 


 


Valuation allowance as a % of ending receivable balance
 
 
14.9
%
Prior to the fourth quarter of Fiscal 2018, the Company’s calculation of the allowance for credit losses was based on a recency measure of delinquency. The credit quality indicator and age analysis of Sterling Jewelers customer in-house finance receivables prior to the sale of the prime-only credit portion of the in-house receivable portfolio as of January 28, 2017 and January 30, 2016 are shown below under the recency basis:
   
 
January 28, 2017
 
January 30, 2016
(in millions)
 
Gross
 
Valuation
allowance
 
Gross
 
Valuation
allowance
Performing (accrual status):
 
 
 
 
 
 
 
 
Current, aged 0 – 30 days
 
$
1,538.2

 
$
(47.2
)
 
$
1,473.0

 
$
(45.4
)
Past due, aged 31 – 60 days
 
282.0

 
(9.0
)
 
259.6

 
(8.3
)
Past due, aged 61 – 90 days
 
51.6

 
(2.3
)
 
49.2

 
(2.2
)
Non Performing (nonaccrual status):
 
 
 
 
 
 
 
 
Past due, aged more than 90 days
 
80.2

 
(80.2
)
 
74.1

 
(74.1
)
 
 
$
1,952.0

 
$
(138.7
)
 
$
1,855.9

 
$
(130.0
)
 
 
 
 
 
 
 
 
 
Valuation allowance as a % of ending receivable balance
 
 
 
7.1
%
 
 

7.0
%