v3.26.1
Fair value measurement
 6 Months Ended
Aug. 01, 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 August 1, 2026, January 31, 2026 and August 2, 2025 are detailed below:
August 1, 2026January 31, 2026August 2, 2025
(in millions)Carrying ValueLevel 1Level 2Carrying ValueLevel 1Level 2Carrying ValueLevel 1Level 2
Assets:
US Treasury securities
$5.3 $5.3 $— $5.4 $5.4 $— $5.4 $5.4 $— 
Foreign currency contracts
0.5 — 0.5 0.7 — 0.7 0.3 — 0.3 
Commodity contracts— — — 26.8 — 26.8 — — — 
Total assets
$5.8 $5.3 $0.5 $32.9 $5.4 $27.5 $5.7 $5.4 $0.3 
Liabilities:
Foreign currency contracts
$(0.2)$— $(0.2)$(0.4)$— $(0.4)$(1.8)$— $(1.8)
Commodity contracts(10.8)— (10.8)(0.6)— (0.6)— — — 
Total liabilities$(11.0)$— $(11.0)$(1.0)$— $(1.0)$(1.8)$— $(1.8)
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.
Goodwill and other indefinite-lived intangible assets are evaluated for impairment annually or more frequently if events or conditions were to indicate the carrying value of a reporting unit or an indefinite-lived intangible asset may be greater than its fair value. As described in Note 11, during the second quarters of Fiscal 2027 and Fiscal 2026, the Company performed annual impairment assessments on a quantitative basis for certain reporting units and indefinite-lived intangible assets as of May 30, 2026 and May 31, 2025, respectively. The fair values used in these assessments were calculated using a combination of the income and market approaches for the reporting units and the relief from royalty method for the indefinite-lived intangible assets. The fair values are Level 3 valuations based on certain unobservable inputs, including estimated sales growth, projected cash flows, discount rates, comparable company earnings multiples, and royalty rates, aligned with market-based assumptions. These unobservable inputs would be utilized by market participants in valuing these assets or prices of similar assets. See Note 11 for additional information.
As described further in Note 15, the Company determined there was an other-than-temporary decline in the fair value of its investment in Sasmat, which is accounted for under the equity method. In order to determine the fair value of this investment and allowance for credit losses on the Company’s loans receivable from Sasmat, the Company used a contingent claims approach to estimate the amount of assets that would be available to both the debt and equity holders of the entity. This valuation utilized primarily Level 3 inputs, and included an option valuation model to estimate the allowance for credit losses on the loans, as well as estimate the residual value, if any, that would be available to the equity holders.
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.