1.0.0.3 false Credit Facility false 1 $ false false USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USDEPS Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 2 Credit Facility 0 jcp_CreditFacility jcp false na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false No definition available. false 3 Credit Facility 1 us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock us-gaap true na duration string No definition available. false false false false false false false false false 1 false false 0 0 <div> <a name= "_AUC9dda06288e5543af9db6c4face7c725e"> Note 4 – Credit Facility </a>   On April 8, 2009, J. C. Penney Company, Inc., JCP and J. C. Penney Purchasing Corporation entered into a three-year, $750 million revolving credit agreement (2009 Credit Facility) with a syndicate of lenders with JPMorgan Chase Bank, N.A., as administrative agent. The 2009 Credit Facility replaced our $1.2 billion credit facility that was scheduled to expire in April 2010.  The facility is secured by our inventory, which security interest can be released upon attainment of certain credit rating levels.  The 2009 Credit Facility is available for general corporate purposes, including the issuance of letters of credit.  Pricing under the 2009 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 2009 Credit Facility are guaranteed by J. C. Penney Company, Inc.   The 2009 Credit Facility requires that we maintain certain financial covenants, which include a leverage ratio, a fixed charge coverage ratio and an asset coverage ratio (each as defined in the 2009 Credit Facility).  Under the terms of the 2009 Credit Facility, non-cash charges or credits related to retirement plans are not included in the calculation of EBITDA (consolidated earnings before income taxes less depreciation and amortization), which is used in the leverage ratio and fixed charge coverage ratio.  <ul style="margin-top:0in" type="disc"> <li class="MsoNormal" style= "color:black;mso-pagination:widow-orphan;mso-list: l0 level1 lfo1;tab-stops:list .5in;mso-layout-grid-align:auto;text-autospace: ideograph-numeric ideograph-other"> The leverage ratio, which is calculated as of the last day of the quarter and measured on a trailing four-quarter basis, cannot exceed 4.0 to 1.0 through January 30, 2010; 3.5 to 1.0 from January 31, 2010 through October 30, 2010; and 3.0 to 1.0 thereafter.   </li> <li class="MsoNormal" style= "color:black;mso-pagination:widow-orphan;mso-list: l0 level1 lfo1;tab-stops:list .5in;mso-layout-grid-align:auto;text-autospace: ideograph-numeric ideograph-other"> The fixed charge coverage ratio, which is calculated as of the last day of the quarter and measured on a trailing four-quarter basis, cannot be less than 2.25 to 1.0 through October 30, 2010; 2.5 to 1.0 from October 31, 2010 through October 29, 2011; and 3.0 to 1.0 thereafter.  </li> <li class="MsoNormal" style= "color:black;mso-pagination:widow-orphan;mso-list: l0 level1 lfo1;tab-stops:list .5in;mso-layout-grid-align:auto;text-autospace: ideograph-numeric ideograph-other"> The asset coverage ratio, which is calculated as of the last day of each fiscal month, cannot be less than 3.0 to 1.0. </li> </ul>   As of August 1, 2009, we were in compliance with these requirements with a leverage ratio of 2.6 to 1.0, a fixed charge coverage ratio of 3.2 to 1.0 and an asset coverage ratio of 19.9 to 1.0.   No borrowings, other than the issuance of standby and import letters of credit totaling $164 million as of the end of the second quarter of 2009, have been made under the 2009 Credit Facility. <style> /*<![CDATA[*/  /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} /*]]>*/ </style> </div> Note 4 – Credit Facility   On April 8, 2009, J. C. Penney Company, Inc., JCP and J. C. Penney Purchasing false false No definition available. No authoritative reference available. false false 1 2 false UnKnown UnKnown UnKnown false true