Compensation and Retirement Disclosure [Abstract] | Period [Axis] |
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2016-01-31 - 2017-01-28 |
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Compensation and Retirement Disclosure [Abstract] | |
Schedule of Changes in Fair Value of Plan Assets | The following tables provide information concerning the UK Plan as of and for the fiscal years ended January 28, 2017 and January 30, 2016: | | | | | | | | | (in millions) | Fiscal 2017 | | Fiscal 2016 | Change in UK Plan assets: | | | | Fair value at beginning of year | $ | 266.2 |
| | $ | 295.8 |
| Actual return on UK Plan assets | 18.2 |
| | (4.8 | ) | Employer contributions | 3.3 |
| | 2.5 |
| Members’ contributions | 0.6 |
| | 0.7 |
| Benefits paid | (9.9 | ) | | (11.2 | ) | Foreign currency translation | (30.8 | ) | | (16.8 | ) | Fair value at end of year | $ | 247.6 |
| | $ | 266.2 |
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Schedule of Changes in Projected Benefit Obligations | | | | | | | | | | (in millions) | Fiscal 2017 | | Fiscal 2016 | Change in benefit obligation: | | | | Benefit obligation at beginning of year | $ | 214.9 |
| | $ | 258.8 |
| Service cost | 2.0 |
| | 2.6 |
| Past service cost | 0.5 |
| | 0.6 |
| Interest cost | 7.2 |
| | 7.7 |
| Members’ contributions | 0.6 |
| | 0.7 |
| Actuarial (gain) loss | 24.1 |
| | (29.4 | ) | Benefits paid | (9.9 | ) | | (11.2 | ) | Foreign currency translation | (23.7 | ) | | (14.9 | ) | Benefit obligation at end of year | $ | 215.7 |
| | $ | 214.9 |
| Funded status at end of year | $ | 31.9 |
| | $ | 51.3 |
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Schedule of Amounts Recognized in Balance Sheet | | | | | | | | | | (in millions) | January 28, 2017 | | January 30, 2016 | Amounts recognized in the balance sheet consist of: | | | | Non-current assets | $ | 31.9 |
| | $ | 51.3 |
| Non-current liabilities | — |
| | — |
| Net asset recognized | $ | 31.9 |
| | $ | 51.3 |
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Schedule of Net Periodic Benefit Cost Not yet Recognized | Items in AOCI not yet recognized as income (expense) in the income statement: | | | | | | | | | | | | | (in millions) | January 28, 2017 | | January 30, 2016 | | January 31, 2015 | Net actuarial losses | $ | (55.5 | ) | | $ | (43.1 | ) | | $ | (56.7 | ) | Net prior service credits | 9.2 |
| | 11.1 |
| | 13.3 |
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Components of Net Benefit Costs | The components of net periodic pension benefit (cost) and other amounts recognized in OCI for the UK Plan are as follows: | | | | | | | | | | | | | (in millions) | Fiscal 2017 | | Fiscal 2016 | | Fiscal 2015 | Components of net periodic pension benefit (cost): | | | | | | Service cost | $ | (2.0 | ) | | $ | (2.6 | ) | | $ | (2.3 | ) | Interest cost | (7.2 | ) | | (7.7 | ) | | (9.7 | ) | Expected return on UK Plan assets | 10.4 |
| | 11.5 |
| | 14.7 |
| Amortization of unrecognized actuarial losses | (1.5 | ) | | (3.4 | ) | | (2.0 | ) | Amortization of unrecognized net prior service credits | 1.9 |
| | 2.2 |
| | 1.7 |
| Net periodic pension benefit | $ | 1.6 |
| | $ | — |
| | $ | 2.4 |
| Other changes in assets and benefit obligations recognized in OCI | (17.8 | ) | | 14.4 |
| | (21.0 | ) | Total recognized in net periodic pension benefit (cost) and OCI | $ | (16.2 | ) | | $ | 14.4 |
| | $ | (18.6 | ) |
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Schedule of Assumptions Used | | | | | | | | | January 28, 2017 | | January 30, 2016 | Assumptions used to determine benefit obligations (at the end of the year): | | | | Discount rate | 2.90 | % | | 3.60 | % | Salary increases | 2.00 | % | | 2.50 | % | Assumptions used to determine net periodic pension costs (at the start of the year): | | | | Discount rate | 3.60 | % | | 3.00 | % | Expected return on UK Plan assets | 4.20 | % | | 3.90 | % | Salary increases | 2.50 | % | | 2.50 | % |
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Schedule of Allocation of Plan Assets | The value and classification of these assets are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | Fair value measurements as of January 28, 2017 | | Fair value measurements as of January 30, 2016 | (in millions) | Total | | Quoted prices in active markets for identical assets (Level 1) | | Significant other observable inputs (Level 2) | | Total | | Quoted prices in active markets for identical assets (Level 1) | | Significant other observable inputs (Level 2) | Assets: | | | | | | | | | | | | Corporate-owned life insurance plans | $ | 7.5 |
| | $ | — |
| | $ | 7.5 |
| | $ | 8.3 |
| | $ | — |
| | $ | 8.3 |
| Money market funds | 29.6 |
| | 29.6 |
| | — |
| | 25.1 |
| | 25.1 |
| | — |
| Total assets | $ | 37.1 |
| | $ | 29.6 |
| | $ | 7.5 |
| | $ | 33.4 |
| | $ | 25.1 |
| | $ | 8.3 |
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The methods Signet uses to determine fair value on an instrument-specific basis are detailed below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair value measurements as of January 28, 2017 | | Fair value measurements as of January 30, 2016 | (in millions) | Total | | Quoted prices in active markets for identical assets (Level 1) | | Significant other observable inputs (Level 2) | | Significant Unobservable inputs (Level 3) | | Total | | Quoted prices in active markets for identical assets (Level 1) | | Significant other observable inputs (Level 2) | | Significant unobservable inputs (Level 3) | Asset category: | | | | | | | | | | | | Diversified equity securities | $ | 22.3 |
| | $ | — |
| | $ | 22.3 |
| | $ | — |
| | $ | 21.2 |
| | $ | 11.3 |
| | $ | 9.9 |
| | $ | — |
| Diversified growth funds | 80.9 |
| | 40.7 |
| | 40.2 |
| | — |
| | 90.5 |
| | 44.8 |
| | 45.7 |
| | — |
| Fixed income – government bonds | 81.0 |
| | — |
| | 81.0 |
| | — |
| | 87.1 |
| | — |
| | 87.1 |
| | — |
| Fixed income – corporate bonds | 48.1 |
| | — |
| | 48.1 |
| | — |
| | 53.6 |
| | — |
| | 53.6 |
| | — |
| Property | 11.8 |
| | — |
| | — |
| | 11.8 |
| | 13.0 |
| | — |
| | — |
| | 13.0 |
| Cash | 3.5 |
| | 3.5 |
| | — |
| | — |
| | 0.8 |
| | 0.8 |
| | — |
| | — |
| Total | $ | 247.6 |
| | $ | 44.2 |
| | $ | 191.6 |
| | $ | 11.8 |
| | $ | 266.2 |
| | $ | 56.9 |
| | $ | 196.3 |
| | $ | 13.0 |
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Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets | The table below sets forth changes in the fair value of the Level 3 investment assets in Fiscal 2017 and Fiscal 2016: | | | | | (in millions) | Significant unobservable inputs (Level 3) | Balance as of January 31, 2015 | $ | 12.3 |
| Actual return on assets | 0.7 |
| Balance as of January 30, 2016 | $ | 13.0 |
| Actual return on assets | (1.2 | ) | Balance as of January 28, 2017 | $ | 11.8 |
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Schedule of Expected Benefit Payments | The following benefit payments, which reflect expected future service, as appropriate, are estimated to be paid by the UK Plan: | | | | | (in millions) | Expected benefit payments | Fiscal 2018 | $ | 9.7 |
| Fiscal 2019 | 7.3 |
| Fiscal 2020 | 7.6 |
| Fiscal 2021 | 8.0 |
| Fiscal 2022 | 8.2 |
| Thereafter | $ | 42.6 |
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