Warranty Reserve

6 Months Ended

Jul. 30, 2022

Other Liabilities Disclosure [Abstract]

Warranty Reserve

Warranty reserveThe North America segment provides a product lifetime diamond 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, the Company 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. A similar product lifetime guarantee is also provided on color gemstones. The warranty reserve for diamond and gemstone guarantees, included in accrued expenses and other current liabilities and other non-current liabilities, is as follows:

	13 weeks ended				26 weeks ended
(in millions)	July 30, 2022		July 31, 2021		July 30, 2022		July 31, 2021
Warranty reserve, beginning of period	$	37.7	$	35.5	$	36.0	$	37.3
Warranty expense	3.4		1.5		8.1		2.2
Utilized (1)	(2.6)		(2.3)		(5.6)		(4.8)
Warranty reserve, end of period	$	38.5	$	34.7	$	38.5	$	34.7

(1)     Includes impact of foreign exchange translation.

(in millions)	July 30, 2022		January 29, 2022		July 31, 2021
Disclosed as:
Other current liabilities	$	10.8	$	10.2	$	9.9
Other liabilities - non-current	27.7		25.8		24.8
Total warranty reserve	$	38.5	$	36.0	$	34.7