XML 49 R37.htm IDEA: XBRL DOCUMENT v3.7.0.1
Accounts receivable, net (Tables)
 6 Months Ended
Jul. 29, 2017
Receivables [Abstract]  
Accounts Receivable By Portfolio Segment, Net
(in millions)
July 29, 2017
 
January 28, 2017
 
July 30, 2016
Accounts receivable held for investment by portfolio segment, net:
 
 
 
 
 
Sterling Jewelers customer in-house finance receivables
$
622.6

 
$
1,813.3

 
$
1,615.6

Zale customer in-house finance receivables
34.0

 
33.4

 
25.0

Other accounts receivable
7.9

 
11.3

 
10.0

Total accounts receivable, net
$
664.5

 
$
1,858.0

 
$
1,650.6

 
 
 
 
 
 
Accounts receivable, held for sale
$
1,055.6

 
$
—

 
$
—
Allowance for Credit Losses on US Customer In-House Finance Receivables
The allowance for credit losses on Sterling Jewelers customer in-house finance receivables “held for investment” is shown below:
 
26 weeks ended
(in millions)
July 29, 2017
 
July 30, 2016
Beginning balance
$
(138.7
)
 
$
(130.0
)
Charge-offs, net
103.9

 
89.5

Recoveries
17.8

 
18.3

Provision
(118.0
)
 
(107.2
)
 
$
(135.0
)
 
$
(129.4
)
Reversal of allowance on receivables held for sale
20.7

 
—

Ending balance
$
(114.3
)
 
$
(129.4
)
Ending receivable balance evaluated for impairment
736.9

 
1,745.0

Sterling Jewelers customer in-house finance receivables, net
$
622.6

 
$
1,615.6
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 “held for investment” and “held for sale” are shown below:
   
July 29, 2017
 
January 28, 2017
 
July 30, 2016
(in millions)
Gross
 
Valuation
allowance
 
Gross
 
Valuation
allowance
 
Gross
 
Valuation
allowance
Performing:
 
 
 
 
 
 
 
 
 
 
 
Current, aged 0 – 30 days
$
1,394.2

 
$
(42.8
)
 
$
1,538.2

 
$
(47.2
)
 
$
1,350.7

 
$
(41.3
)
Past due, aged 31 – 60 days
264.6

 
(8.6
)
 
282.0

 
(9.0
)
 
264.1

 
(8.6
)
Past due, aged 61 – 90 days
52.5

 
(2.4
)
 
51.6

 
(2.3
)
 
53.2

 
(2.5
)
Non Performing:
 
 
 
 
 
 
 
 
 
 
 
Past due, aged more than 90 days
81.2

 
(81.2
)
 
80.2

 
(80.2
)
 
77.0

 
(77.0
)
 
$
1,792.5

 
$
(135.0
)
 
$
1,952.0

 
$
(138.7
)
 
$
1,745.0

 
$
(129.4
)
Less: Amounts attributable to accounts receivable held for sale
1,055.6

 
(20.7
)
 
—

 
—

 
—

 
—

Accounts receivable held for investment
$
736.9

 
$
(114.3
)
 
$
1,952.0

 
$
(138.7
)
 
$
1,745.0

 
$
(129.4
)
 
July 29, 2017
 
January 28, 2017
 
July 30, 2016
(as a % of the ending receivable balance)
Gross
 
Valuation
allowance
 
Gross
 
Valuation
allowance
 
Gross
 
Valuation
allowance
Performing
 
 
 
 
 
 
 
 
 
 
 
Current, aged 0 – 30 days
77.8
%
 
3.1
%
 
78.8
%
 
3.1
%
 
77.4
%
 
3.1
%
Past due, aged 31 – 60 days
14.8
%
 
3.3
%
 
14.5
%
 
3.2
%
 
15.1
%
 
3.3
%
Past due, aged 61 – 90 days
2.9
%
 
4.6
%
 
2.6
%
 
4.5
%
 
3.1
%
 
4.7
%
Non Performing
 
 
 
 
 
 
 
 
 
 
 
Past due, aged more than 90 days
4.5
%
 
100.0
%
 
4.1
%
 
100.0
%
 
4.4
%
 
100.0
%
 
100.0
%
 
7.5
%
 
100.0
%
 
7.1
%
 
100.0
%
 
7.4
%