v3.26.1
Fair value measurement
 3 Months Ended
May 02, 2026
Fair Value Disclosures [Abstract]  
Fair value measurement Fair value measurement
The estimated fair value of Signet’s financial instruments held or issued to finance the Company’s operations is summarized below. Certain estimates and judgments were required to develop the fair value amounts. The fair value amounts shown below are not necessarily indicative of the amounts that the Company would realize upon disposition nor do they indicate Signet’s intent or ability to dispose of the financial instrument. Assets and liabilities that are carried at fair value are required to be classified and disclosed in one of the following three categories:
Level 1—quoted market prices in active markets for identical assets and liabilities
Level 2—observable market based inputs or unobservable inputs that are corroborated by market data
Level 3—unobservable inputs that are not corroborated by market data
The Company determines fair value based upon quoted prices when available or through the use of alternative approaches, such as discounting the expected cash flows using market interest rates commensurate with the credit quality and duration of the investment. The methods used by the Company to determine fair value on an instrument-specific basis as of May 2, 2026, January 31, 2026 and May 3, 2025 are detailed below:
May 2, 2026January 31, 2026May 3, 2025
(in millions)Carrying ValueLevel 1Level 2Carrying ValueLevel 1Level 2Carrying ValueLevel 1Level 2
Assets:
US Treasury securities
$5.4 $5.4 $— $5.4 $5.4 $— $5.3 $5.3 $— 
Foreign currency contracts
0.2 — 0.2 0.7 — 0.7 — — — 
Commodity contracts11.5 — 11.5 26.8 — 26.8 — — — 
Total assets
$17.1 $5.4 $11.7 $32.9 $5.4 $27.5 $5.3 $5.3 $— 
Liabilities:
Foreign currency contracts
$(0.2)$— $(0.2)$(0.4)$— $(0.4)$(0.6)$— $(0.6)
Commodity contracts(1.8)— (1.8)(0.6)— (0.6)— — — 
Total liabilities$(2.0)$— $(2.0)$(1.0)$— $(1.0)$(0.6)$— $(0.6)
Investments in US Treasury securities are based on quoted market prices for identical instruments in active markets, and therefore were classified as Level 1 measurements in the fair value hierarchy. The fair value of derivative financial instruments has been determined based on market value equivalents on the balance sheet dates, taking into account the current interest rate environment and foreign currency forward rates or commodity forward rates, and therefore were classified as Level 2 measurements in the fair value hierarchy. See Note 12 for additional information related to the Company’s derivatives.
The carrying amounts of cash and cash equivalents, other current assets, accounts payable, accrued expenses and other current liabilities, and income taxes approximate fair value because of the short-term maturity of these amounts.