Condensed consolidating financial information (Tables)

3 Months Ended

Apr. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Income Statement

Condensed Consolidated Income Statement

For the 13 weeks ended April 30, 2016

(Unaudited)

(in millions)	Signet Jewelers Limited			Signet UK Finance  plc			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Sales	$	—		$	—		$	1,518.3		$	60.6		$	—		$	1,578.9
Cost of sales	—			—			(969.1		)	(9.4		)	—			(978.5		)
Gross margin	—			—			549.2			51.2			—			600.4
Selling, general and administrative expenses	(0.1		)	—			(438.6		)	(24.0		)	—			(462.7		)
Other operating income, net	—			—			71.6			2.7			—			74.3
Operating (loss) income	(0.1		)	—			182.2			29.9			—			212.0
Intra-entity interest income (expense)	—			4.7			(46.9		)	42.2			—			—
Interest expense, net	—			(4.9		)	(3.7		)	(3.2		)	—			(11.8		)
(Loss) income before income taxes	(0.1		)	(0.2		)	131.6			68.9			—			200.2
Income taxes	—			—			(54.2		)	0.8			—			(53.4		)
Equity in income of subsidiaries	146.9			—			85.2			84.3			(316.4		)	—
Net income (loss)	$	146.8		$	(0.2	)	$	162.6		$	154.0		$	(316.4	)	$	146.8

Condensed Consolidated Income Statement

For the 13 weeks ended May 2, 2015

(Unaudited)

(in millions)	Signet Jewelers Limited			Signet UK Finance  plc			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Sales	$	—		$	—		$	1,511.0		$	19.6		$	—		$	1,530.6
Cost of sales	—			—			(961.0		)	(3.7		)	—			(964.7		)
Gross margin	—			—			550.0			15.9			—			565.9
Selling, general and administrative expenses	(0.3		)	—			(444.2		)	(8.7		)	—			(453.2		)
Other operating income, net	—			—			63.5			—			—			63.5
Operating (loss) income	(0.3		)	—			169.3			7.2			—			176.2
Intra-entity interest income (expense)	—			4.7			(46.1		)	41.4			—			—
Interest expense, net	—			(4.9		)	(3.5		)	(2.6		)	—			(11.0		)
(Loss) income before income taxes	(0.3		)	(0.2		)	119.7			46.0			—			165.2
Income taxes	—			—			(48.5		)	2.1			—			(46.4		)
Equity in income of subsidiaries	119.1			—			76.0			77.2			(272.3		)	—
Net income (loss)	$	118.8		$	(0.2	)	$	147.2		$	125.3		$	(272.3	)	$	118.8

Condensed Statement of Comprehensive Income

Condensed Consolidated Statement of Comprehensive Income (Loss)

For the 13 weeks ended April 30, 2016

(Unaudited)

(in millions)	Signet Jewelers Limited			Signet UK Finance plc			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	146.8		$	(0.2	)	$	162.6		$	154.0		$	(316.4	)	$	146.8
Other comprehensive income (loss):
Foreign currency translation adjustments	30.8			—			32.2			(1.4		)	(30.8		)	30.8
Available-for-sale securities:
Unrealized gain	0.2			—			—			0.2			(0.2		)	0.2
Cash flow hedges:
Unrealized gain	3.6			—			3.6			—			(3.6		)	3.6
Reclassification adjustment for losses to net income	1.1			—			1.1			—			(1.1		)	1.1
Pension plan:
Reclassification adjustment to net income for amortization of actuarial losses	0.3			—			0.3			—			(0.3		)	0.3
Reclassification adjustment to net income for amortization of net prior service credits	(0.4		)	—			(0.4		)	—			0.4			(0.4		)
Total other comprehensive income (loss)	35.6			—			36.8			(1.2		)	(35.6		)	35.6
Total comprehensive income (loss)	$	182.4		$	(0.2	)	$	199.4		$	152.8		$	(352.0	)	$	182.4

Condensed Consolidated Statement of Comprehensive Income (Loss)

For the 13 weeks ended May 2, 2015

(Unaudited)

(in millions)	Signet Jewelers Limited			Signet UK Finance plc			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	118.8		$	(0.2	)	$	147.2		$	125.3		$	(272.3	)	$	118.8
Other comprehensive income (loss):
Foreign currency translation adjustments	7.5			—			7.5			—			(7.5		)	7.5
Available-for-sale securities:
Unrealized loss	(0.1		)	—			—			(0.1		)	0.1			(0.1		)
Cash flow hedges:
Unrealized loss	(5.9		)	—			(5.9		)	—			5.9			(5.9		)
Reclassification adjustment for losses to net income	0.5			—			0.5			—			(0.5		)	0.5
Pension plan:
Reclassification adjustment to net income for amortization of actuarial losses	0.7			—			0.7			—			(0.7		)	0.7
Reclassification adjustment to net income for amortization of net prior service credits	(0.4		)	—			(0.4		)	—			0.4			(0.4		)
Total other comprehensive income (loss)	2.3			—			2.4			(0.1		)	(2.3		)	2.3
Total comprehensive income (loss)	$	121.1		$	(0.2	)	$	149.6		$	125.2		$	(274.6	)	$	121.1

Condensed Balance Sheet

Condensed Consolidated Balance Sheet

April 30, 2016

(Unaudited)

(in millions)	Signet Jewelers Limited		Signet UK Finance  plc			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	0.6	$	0.1		$	87.6	$	24.7		$	—		$	113.0
Accounts receivable, net	—		—			1,685.1		4.2			—			1,689.3
Intra-entity receivables, net	133.0		—			—		202.0			(335.0		)	—
Other receivables	—		—			44.9		18.8			—			63.7
Other current assets	0.1		—			155.8		5.3			—			161.2
Income taxes	—		—			1.4		—			—			1.4
Inventories	—		—			2,433.9		78.7			—			2,512.6
Total current assets	133.7		0.1			4,408.7		333.7			(335.0		)	4,541.2
Non-current assets:
Property, plant and equipment, net	—		—			720.5		5.2			—			725.7
Goodwill	—		—			516.1		3.6			—			519.7
Intangible assets, net	—		—			430.4		—			—			430.4
Investment in subsidiaries	2,985.1		—			687.4		527.2			(4,199.7		)	—
Intra-entity receivables, net	—		407.5			—		3,657.5			(4,065.0		)	—
Other assets	—		—			127.0		30.2			—			157.2
Deferred tax assets	—		—			—		—			—			—
Retirement benefit asset	—		—			53.5		—			—			53.5
Total assets	$	3,118.8	$	407.6		$	6,943.6	$	4,557.4		$	(8,599.7	)	$	6,427.7
Liabilities and Shareholders’ equity
Current liabilities:
Loans and overdrafts	$	—	$	(0.7	)	$	110.8	$	—		$	—		$	110.1
Accounts payable	—		—			248.3		7.4			—			255.7
Intra-entity payables, net	—		—			335.0		—			(335.0		)	—
Accrued expenses and other current liabilities	20.6		7.1			369.0		12.8			—			409.5
Deferred revenue	—		—			261.4		—			—			261.4
Income taxes	—		—			22.6		(3.5		)	—			19.1
Total current liabilities	20.6		6.4			1,347.1		16.7			(335.0		)	1,055.8
Non-current liabilities:
Long-term debt	—		393.7			317.8		600.0			—			1,311.5
Intra-entity payables, net	—		—			4,065.0		—			(4,065.0		)	—
Other liabilities	—		—			223.5		6.2			—			229.7
Deferred revenue	—		—			644.4		—			—			644.4
Deferred tax liabilities	—		—			88.3		(0.2		)	—			88.1
Total liabilities	20.6		400.1			6,686.1		622.7			(4,400.0		)	3,329.5
Total shareholders’ equity	3,098.2		7.5			257.5		3,934.7			(4,199.7		)	3,098.2
Total liabilities and shareholders’ equity	$	3,118.8	$	407.6		$	6,943.6	$	4,557.4		$	(8,599.7	)	$	6,427.7

Condensed Consolidated Balance Sheet

January 30, 2016

(in millions)	Signet Jewelers Limited		Signet UK Finance  plc			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	1.9	$	0.1		$	102.0	$	33.7		$	—		$	137.7
Accounts receivable, net	—		—			1,753.0		3.4			—			1,756.4
Intra-entity receivables, net	28.7		—			—		380.1			(408.8		)	—
Other receivables	—		—			68.8		15.2			—			84.0
Other current assets	0.1		—			144.2		8.3			—			152.6
Income taxes	—		0.2			2.3		1.0			—			3.5
Inventories	—		—			2,372.7		81.2			—			2,453.9
Total current assets	30.7		0.3			4,443.0		522.9			(408.8		)	4,588.1
Non-current assets:
Property, plant and equipment, net	—		—			722.3		5.3			—			727.6
Goodwill	—		—			511.9		3.6			—			515.5
Intangible assets, net	—		—			427.8		—			—			427.8
Investment in subsidiaries	3,047.8		—			762.9		600.0			(4,410.7		)	—
Intra-entity receivables, net	—		402.6			—		3,467.4			(3,870.0		)	—
Other assets	—		—			124.5		30.1			—			154.6
Deferred tax assets	—		—			—		—			—			—
Retirement benefit asset	—		—			51.3		—			—			51.3
Total assets	$	3,078.5	$	402.9		$	7,043.7	$	4,629.3		$	(8,689.5	)	$	6,464.9
Liabilities and Shareholders’ equity
Current liabilities:
Loans and overdrafts	$	—	$	(0.7	)	$	58.4	$	—		$	—		$	57.7
Accounts payable	—		—			260.3		8.8			—			269.1
Intra-entity payables, net	—		—			408.8		—			(408.8		)	—
Accrued expenses and other current liabilities	17.8		2.4			467.0		11.1			—			498.3
Deferred revenue	—		—			260.3		—			—			260.3
Income taxes	—		—			68.4		(2.7		)	—			65.7
Total current liabilities	17.8		1.7			1,523.2		17.2			(408.8		)	1,151.1
Non-current liabilities:
Long-term debt	—		393.5			327.5		600.0			—			1,321.0
Intra-entity payables, net	—		—			3,870.0		—			(3,870.0		)	—
Other liabilities	—		—			223.6		6.9			—			230.5
Deferred revenue	—		—			629.1		—			—			629.1
Deferred tax liabilities	—		—			73.0		(0.5		)	—			72.5
Total liabilities	17.8		395.2			6,646.4		623.6			(4,278.8		)	3,404.2
Total shareholders’ equity	3,060.7		7.7			397.3		4,005.7			(4,410.7		)	3,060.7
Total liabilities and shareholders’ equity	$	3,078.5	$	402.9		$	7,043.7	$	4,629.3		$	(8,689.5	)	$	6,464.9

Condensed Consolidated Balance Sheet

May 2, 2015

(Unaudited)

(in millions)	Signet Jewelers Limited		Signet UK Finance  plc			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	0.9	$	0.1		$	110.4	$	11.2	$	—		$	122.6
Accounts receivable, net	—		—			1,498.3		1.6		—			1,499.9
Intra-entity receivables, net	85.9		—			—		90.3		(176.2		)	—
Other receivables	—		—			45.4		11.1		—			56.5
Other current assets	0.4		—			124.9		5.3		—			130.6
Income taxes	—		—			5.3		—		—			5.3
Inventories	—		—			2,407.2		80.6		—			2,487.8
Total current assets	87.2		0.1			4,191.5		200.1		(176.2		)	4,302.7
Non-current assets:
Property, plant and equipment, net	—		—			663.2		5.5		—			668.7
Goodwill	—		—			517.1		3.6		—			520.7
Intangible assets, net	—		—			445.9		—		—			445.9
Investment in subsidiaries	2,822.7		—			541.5		523.9		(3,888.1		)	—
Intra-entity receivables, net	—		407.3			—		3,484.8		(3,892.1		)	—
Other assets	—		—			106.1		26.0		—			132.1
Deferred tax assets	—		—			1.8		0.4		—			2.2
Retirement benefit asset	—		—			38.1		—		—			38.1
Total assets	$	2,909.9	$	407.4		$	6,505.2	$	4,244.3	$	(7,956.4	)	$	6,110.4
Liabilities and Shareholders’ equity
Current liabilities:
Loans and overdrafts	$	—	$	(0.7	)	$	43.7	$	—	$	—		$	43.0
Accounts payable	—		—			252.2		4.3		—			256.5
Intra-entity payables, net	—		—			176.2		—		(176.2		)	—
Accrued expenses and other current liabilities	18.0		7.1			386.7		8.7		—			420.5
Deferred revenue	—		—			244.0		—		—			244.0
Income taxes	—		—			28.2		0.1		—			28.3
Total current liabilities	18.0		6.4			1,131.0		13.1		(176.2		)	992.3
Non-current liabilities:
Long-term debt	—		392.9			354.3		600.0		—			1,347.2
Intra-entity payables, net	—		—			3,892.1		—		(3,892.1		)	—
Other liabilities	—		—			216.8		7.6		—			224.4
Deferred revenue	—		—			597.3		—		—			597.3
Deferred tax liabilities	—		—			57.3		—		—			57.3
Total liabilities	18.0		399.3			6,248.8		620.7		(4,068.3		)	3,218.5
Total shareholders’ equity	2,891.9		8.1			256.4		3,623.6		(3,888.1		)	2,891.9
Total liabilities and shareholders’ equity	$	2,909.9	$	407.4		$	6,505.2	$	4,244.3	$	(7,956.4	)	$	6,110.4

Condensed Cash Flow Statement

Condensed Consolidated Statement of Cash Flows

For the 13 weeks ended April 30, 2016

(Unaudited)

(in millions)	Signet Jewelers Limited			Signet UK Finance  plc			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by operating activities	$	314.6		$	4.9		$	240.5		$	269.4		$	(715.0	)	$	114.4
Investing activities
Purchase of property, plant and equipment	—			—			(39.3		)	—			—			(39.3		)
Investment in subsidiaries	(65.0		)	—			—			—			65.0			—
Purchase of available-for-sale securities	—			—			—			(0.8		)	—			(0.8		)
Proceeds from available-for-sale securities	—			—			—			1.2			—			1.2
Net cash used in (provided by) investing activities	(65.0		)	—			(39.3		)	0.4			65.0			(38.9		)
Financing activities
Dividends paid	(17.5		)	—			—			—			—			(17.5		)
Intra-entity dividends paid	—			—			(450.0		)	(265.0		)	715.0			—
Proceeds from issuance of common shares	0.3			—			65.0			—			(65.0		)	0.3
Excess tax benefit from exercise of share awards	—			—			1.3			—			—			1.3
Repayments of term loan	—			—			(7.5		)	—			—			(7.5		)
Proceeds from securitization facility	—			—			—			696.5			—			696.5
Repayment of securitization facility	—			—			—			(696.5		)	—			(696.5		)
Proceeds from revolving credit facility	—			—			99.0			—			—			99.0
Repayments of revolving credit facility	—			—			(55.0		)	—			—			(55.0		)
Repurchase of common shares	(125.0		)	—			—			—			—			(125.0		)
Net settlement of equity based awards	(4.6		)	—			—			—			—			(4.6		)
Principal payments under capital lease obligations	—			—			(0.1		)	—			—			(0.1		)
Proceeds from short-term borrowings	—			—			6.0			—			—			6.0
Intra-entity activity, net	(104.1		)	(4.9		)	122.8			(13.8		)	—			—
Net cash used in financing activities	(250.9		)	(4.9		)	(218.5		)	(278.8		)	650.0			(103.1		)
Cash and cash equivalents at beginning of period	1.9			0.1			102.0			33.7			—			137.7
Decrease in cash and cash equivalents	(1.3		)	—			(17.3		)	(9.0		)	—			(27.6		)
Effect of exchange rate changes on cash and cash equivalents	—			—			2.9			—			—			2.9
Cash and cash equivalents at end of period	$	0.6		$	0.1		$	87.6		$	24.7		$	—		$	113.0

Condensed Consolidated Statement of Cash Flows

For the 13 weeks ended May 2, 2015

(Unaudited)

(in millions)	Signet Jewelers Limited			Signet UK Finance  plc			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations		Consolidated
Net cash (used in) provided by operating activities	$	(3.4	)	$	4.9		$	54.4		$	11.1		$	—	$	67.0
Investing activities
Purchase of property, plant and equipment	—			—			(42.9		)	—			—		(42.9		)
Investment in subsidiaries	—			—			—			—			—		—
Purchase of available-for-sale securities	—			—			—			(1.4		)	—		(1.4		)
Proceeds from available-for-sale securities	—			—			—			3.5			—		3.5
Net cash (used in) provided by investing activities	—			—			(42.9		)	2.1			—		(40.8		)
Financing activities
Dividends paid	(14.4		)	—			—			—			—		(14.4		)
Intra-entity dividends paid	—			—			—			—			—		—
Proceeds from issuance of common shares	0.1			—			—			—			—		0.1
Excess tax benefit from exercise of share awards	—			—			5.1			—			—		5.1
Repayments of term loan	—			—			(5.0		)	—			—		(5.0		)
Proceeds from securitization facility	—			—			—			638.2			—		638.2
Repayment of securitization facility	—			—			—			(638.2		)	—		(638.2		)
Proceeds from revolving credit facility	—			—			—			—			—		—
Repayments of revolving credit facility	—			—			—			—			—		—
Repurchase of common shares	(19.1		)	—			—			—			—		(19.1		)
Net settlement of equity based awards	(8.7		)	—			—			—			—		(8.7		)
Principal payments under capital lease obligations	—			—			(0.3		)	—			—		(0.3		)
Repayment of short-term borrowings	—			—			(55.0		)	—			—		(55.0		)
Intra-entity activity, net	44.3			(4.9		)	(12.5		)	(26.9		)	—		—
Net cash provided by (used in) financing activities	2.2			(4.9		)	(67.7		)	(26.9		)	—		(97.3		)
Cash and cash equivalents at beginning of period	2.1			0.1			166.5			24.9			—		193.6
Decrease in cash and cash equivalents	(1.2		)	—			(56.2		)	(13.7		)	—		(71.1		)
Effect of exchange rate changes on cash and cash equivalents	—			—			0.1			—			—		0.1
Cash and cash equivalents at end of period	$	0.9		$	0.1		$	110.4		$	11.2		$	—	$	122.6