1.0.0.3 false Effect of New Accounting Standards 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 Effect of New Accounting Standards 0 jcp_EffectOfNewAccountingStandards 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 Effect of New Accounting Standards 1 us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock us-gaap true na duration string No definition available. false false false false false false false false false 1 false false 0 0 <div> <div><div><div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';"><b><font class="_mt" style="color: black;">Note 13 – Effect of New Accounting Standards</font></b></p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';"><font class="_mt" style="color: black;">  </font></p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';"><b><font class="_mt" style="color: black;">Adoption of New Accounting Standards</font></b></p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';"><font class="_mt" style="color: black;">  </font></p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';"><b><i><font class="_mt" style="color: black;">Evaluation of Subsequent Events</font></i></b></p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';"><font class="_mt" style="color: black;">Beginning in our second quarter, we adopted the Financial Accounting Standards Board (“FASB”) guidance, which establishes general standards of accounting for and disclosing events that occur after the balance sheet date but before financial statements are issued or are available to be issued. Specifically, this guidance sets forth the period after the balance sheet date during which management of a reporting entity should evaluate events or transactions that may occur for potential recognition or disclosure in the financial statements, the circumstances under which an entity should recognize events or transactions occurring after the balance sheet date in its financial statements, and the disclosures that an entity should make about events or transactions that occurred after the balance sheet date.  Our adoption of this guidance did not have a material impact on our consolidated financial statements and the evaluation disclosure is located in Note 1 – Basis of Presentation and Consolidation.</font></p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';">  </p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';"><b><i>Fair Value Measurements</i></b></p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';">The FASB issued a series of guidance about fair value measurements and included an initial standard that we adopted beginning in 2008, which defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. This statement applies under other accounting pronouncements that require or permit fair value measurements, but does not require any new fair value measurements.<font class="_mt">  The adoption did not have a material impact on our consolidated financial statements.</font></p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';"><i>  </i></p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';">In October 2008, we adopted FASB guidance, which clarifies the application of fair value measurements as it relates to the valuation of financial assets in inactive markets. The adoption of the guidance did not have a material impact on our consolidated financial statements.</p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';">  </p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';">Beginning in the second quarter of 2009, we adopted FASB guidance on how to determine the fair value of assets and liabilities when the volume and level of activity for the asset or liability has significantly decreased. Also, this guidance provides information on identifying circumstances that indicate a transaction is not orderly. Further, the guidance requires disclosure in interim and annual periods of the inputs and valuation techniques used to measure fair value and a discussion of changes in valuation techniques.<font class="_mt">  Our adoption of this guidance did not have a significant impact on our consolidated financial statements.</font></p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';">  </p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';">Beginning in the second quarter of 2009, we adopted FASB guidance that requires disclosures about the fair value of financial instruments whenever a public company issues financial information for interim reporting periods. The guidance did not have a material impact on our consolidated financial statements.</p> <p style="font-size: 12pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';"><b><i><font class="_mt" style="font-size: 10pt;">  </font></i></b></p> <p style="font-size: 12pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';"><b><i><font class="_mt" style="font-size: 10pt;">Determining Whether Instruments Granted in Share-Based Payment Transactions Are Participating Securities</font></i></b></p> <p style="font-size: 12pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';"><font class="_mt" style="font-size: 10pt;">Beginning in 2009, we adopted FASB guidance that clarifies that unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and shall be included in the computation of earnings per share pursuant to the two-class method. Dividend equivalents on our unvested share-based payment transactions are forfeited if the corresponding shares do not vest; therefore, our adoption of this guidance did not have any impact on our consolidated financial statements.</font></p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman'; text-align: center;" align="center">  </p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman'; text-align: justify;"><b><i>Recognition and Presentation of Other-Than-Temporary Impairment</i></b></p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; text-autospace: ideograph-numeric; font-family: 'Times New Roman';">Beginning in the second quarter of 2009, we adopted FASB guidance that amends the requirements for the recognition and measurement of other-than-temporary impairments for debt securities by modifying the pre-existing “intent and ability” indicator. The guidance specifies an other-than-temporary impairment is triggered when there is an intent to sell the security, it is more likely than not that the security will be required to be sold before recovery, or the security is not expected to recover the entire amortized cost basis of the security. Additionally, the guidance changes the presentation of an other-than-temporary impairment in the income statement for those impairments involving credit losses. The credit loss component will be recognized in earnings and the remainder of the impairment will be recorded in other comprehensive income. This guidance did not have a material impact on our consolidated financial statements.</p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman'; text-align: justify;"><i>  </i></p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';"><b>Standards Issued But Not Yet Adopted</b></p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';">  </p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';"><b><i>Employers’ Disclosures about Postretirement Benefit Plan Assets</i></b></p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';">In December 2008, the FASB issued guidance that provides enhanced disclosures about plan assets of a defined benefit pension or other postretirement plan including (i) investment policies and strategies, (ii) major categories of plan assets, (iii) the valuation techniques used to measure the fair value of plan assets, including the effect of significant unobservable inputs on changes in plan assets, and (iv) significant concentrations within plan assets. This guidance will be effective after December 15, 2009. Since the guidance merely requires enhanced disclosures without a change to existing standards relative to measurement and recognition, our adoption of the guidance will not have a material impact on our consolidated financial statements.</p> <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';">  </p>  <p class="MsoNormal" style="font-size: 10pt; margin: 0in 0in 0pt; font-family: 'Times New Roman';">  </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div></div></div> </div> Note 13 – Effect of New Accounting Standards    Adoption of New Accounting Standards    Evaluation of Subsequent Events Beginning in false false No definition available. No authoritative reference available. false false 1 2 false UnKnown UnKnown UnKnown false true