XML 46 R35.htm IDEA: XBRL DOCUMENT v3.4.0.3
Accounts receivable, net (Tables)
 3 Months Ended
Apr. 30, 2016
Receivables [Abstract]  
Accounts Receivable By Portfolio Segment, Net
(in millions)
April 30, 2016
 
January 30, 2016
 
May 2, 2015
Accounts receivable by portfolio segment, net:
 
 
 
 
 
Sterling Jewelers customer in-house finance receivables
$
1,654.3

 
$
1,725.9

 
$
1,489.4

Zale customer in-house finance receivables
21.6

 
13.6

 
—

Other accounts receivable
13.4

 
16.9

 
10.5

Total accounts receivable, net
$
1,689.3

 
$
1,756.4

 
$
1,499.9
Allowance for Credit Losses on US Customer In-House Finance Receivables
The allowance for credit losses on Sterling Jewelers customer in-house finance receivables is shown below:
 
13 weeks ended
(in millions)
April 30, 2016
 
May 2, 2015
Beginning balance:
$
(130.0
)
 
$
(113.1
)
Charge-offs, net
46.8

 
37.9

Recoveries
10.1

 
10.4

Provision
(43.7
)
 
(38.5
)
Ending balance
$
(116.8
)
 
$
(103.3
)
Ending receivable balance evaluated for impairment
1,771.1

 
1,592.7

Sterling Jewelers customer in-house finance receivables, net
$
1,654.3

 
$
1,489.4
Credit Quality Indicator and Age Analysis of Past Due US Customer In-House Finance Receivables
The credit quality indicator and age analysis of Sterling Jewelers customer in-house finance receivables are shown below:
   
April 30, 2016
 
January 30, 2016
 
May 2, 2015
(in millions)
Gross
 
Valuation
allowance
 
Gross
 
Valuation
allowance
 
Gross
 
Valuation
allowance
Performing:
 
 
 
 
 
 
 
 
 
 
 
Current, aged 0 – 30 days
$
1,427.5

 
$
(43.4
)
 
$
1,473.0

 
$
(45.4
)
 
$
1,290.9

 
$
(39.3
)
Past due, aged 31 – 60 days
240.9

 
(7.9
)
 
259.6

 
(8.3
)
 
211.6

 
(6.8
)
Past due, aged 61 – 90 days
39.2

 
(2.0
)
 
49.2

 
(2.2
)
 
34.8

 
(1.8
)
Non Performing:
 
 
 
 
 
 
 
 
 
 
 
Past due, aged more than 90 days
63.5

 
(63.5
)
 
74.1

 
(74.1
)
 
55.4

 
(55.4
)
 
$
1,771.1

 
$
(116.8
)
 
$
1,855.9

 
$
(130.0
)
 
$
1,592.7

 
$
(103.3
)
 
April 30, 2016
 
January 30, 2016
 
May 2, 2015
(as a % of the ending receivable balance)
Gross
 
Valuation
allowance
 
Gross
 
Valuation
allowance
 
Gross
 
Valuation
allowance
Performing
 
 
 
 
 
 
 
 
 
 
 
Current, aged 0 – 30 days
80.6
%
 
3.0
%
 
79.4
%
 
3.1
%
 
81.0
%
 
3.0
%
Past due, aged 31 – 60 days
13.6
%
 
3.3
%
 
14.0
%
 
3.2
%
 
13.3
%
 
3.2
%
Past due, aged 61 – 90 days
2.2
%
 
5.1
%
 
2.6
%
 
4.5
%
 
2.2
%
 
5.2
%
Non Performing
 
 
 
 
 
 
 
 
 
 
 
Past due, aged more than 90 days
3.6
%
 
100.0
%
 
4.0
%
 
100.0
%
 
3.5
%
 
100.0
%
 
100.0
%
 
6.6
%
 
100.0
%
 
7.0
%
 
100.0
%
 
6.5
%