Quarterly report pursuant to Section 13 or 15(d)

Credit Facility (Details)

v2.4.0.8
Credit Facility (Details) (USD $)
3 Months Ended 9 Months Ended
Nov. 02, 2013
Oct. 27, 2012
Nov. 02, 2013
Oct. 27, 2012
Apr. 12, 2013
Feb. 02, 2013
Line of credit facility, initiation date     Feb. 08, 2013      
Line of credit facility, maximum borrowing capacity $ 1,850,000,000   $ 1,850,000,000      
Line of credit facility, maturity date     Apr. 29, 2016      
Line of Credit Facility, Capacity Available for Trade Purchases 750,000,000   750,000,000      
Accordian Feature That Potentially Increases Credit Facility Limit 400,000,000   400,000,000      
Debt Covenant, Fixed Charge Coverage Ratio     1.0      
Line of Credit Facility, amount borrowed         850,000,000  
Line of Credit Facility, Interest Rate Description     A portion of the borrowing bears interest at a rate of LIBOR plus 3.0% with the remaining portion bearing interest at a base rate (as defined in the 2013 Credit Facility) plus 2.0% per annum      
Line of Credit Facility, Revolving Credit, Description     On February 8, 2013, J. C. Penney Company, Inc., JCP and J. C. Penney Purchasing Corporation (Purchasing) entered into an amended and restated revolving credit agreement in the amount up to $1,850 million (2013 Credit Facility), which replaces the Company’s prior credit agreement entered into in January 2012, with largely the same syndicate of lenders under the previous agreement, with JPMorgan Chase Bank, N.A., as administrative agent. The 2013 Credit Facility matures on April 29, 2016, increases the letter of credit sublimit to $750 million from $500 million and provides an accordion feature that could potentially increase the size of the facility by an additional amount not to exceed $400 million. The 2013 Credit Facility is an asset-based revolving credit facility and is secured by a perfected first-priority security interest in substantially all of our eligible credit card receivables, accounts receivable and inventory. The 2013 Credit Facility is available for general corporate purposes, including the issuance of letters of credit. Pricing under the 2013 Credit Facility is tiered based on JCP’s senior unsecured long-term credit ratings issued by Moody’s Investors Service, Inc. and Standard & Poor’s Ratings Services. JCP’s obligations under the 2013 Credit Facility are guaranteed by J. C. Penney Company, Inc.      
Line of Credit Facility, Borrowing Capacity, Description     Availability under the 2013 Credit Facility is limited to a borrowing base which allows us to borrow up to 85% of eligible accounts receivable, plus 90% of eligible credit card receivables, plus 85% of the liquidation value of our inventory, net of certain reserves. Letters of credit reduce the amount available to borrow by their face value. In the event that availability under the 2013 Credit Facility is at any time less than the greater of (1) $125 million or (2) 10% of the lesser of the total facility or the borrowing base then in effect, for a period of at least 30 days, the Company will be subject to a fixed charge coverage ratio covenant of 1.0 to 1.0 which is calculated as of the last day of the quarter and measured on a trailing four-quarter basis.      
Letters of Credit 534,000,000   534,000,000      
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage     0.50%      
Line of Credit Facility, maximum borrowing capacity less amount outstanding 666,000,000   666,000,000      
Line of Credit Facility, Remaining Borrowing Capacity 481,000,000   481,000,000      
Repayments of Short-term Debt 200,000,000 0 200,000,000 0    
Short-term borrowings 650,000,000 0 650,000,000 0   0
Domestic Line of Credit [Member]
           
Line of Credit Facility, Interest Rate at Period End 3.00%   3.00%      
Foreign Line of Credit [Member]
           
Line of Credit Facility, Interest Rate at Period End 1.50%   1.50%      
Interest rate in addition to LIBOR [Member]
           
Line of Credit Facility, Interest Rate During Period 3.00%          
Eligible accounts receivable [Member]
           
Borrowing Base Components 85.00%          
Eligible credit card receivables [Member]
           
Borrowing Base Components 90.00%          
Liquidation value of inventory, net of reserves [Member]
           
Borrowing Base Components 85.00%          
Avaliability factor, dollars, threshold for fixed charge coverage ratio [Member]
           
Availibility component, dollars, threshold for fixed charge coverage ratio $ 125,000,000          
Lesser of total facility or borrowing base, factor, threshold for fixed charge coverage ratio [Member]
           
Availibility component, percentage, threshold for fixed charge coverage ratio 10.00%