Credit Facility |
6 Months Ended |
|---|---|
Aug. 01, 2015 | |
| Credit Facility [Abstract] | |
| Credit Facility | Credit Facility On June 20, 2014, J. C. Penney Company, Inc., JCP and J. C. Penney Purchasing Corporation entered into a $2,350 million asset-based senior credit facility (2014 Credit Facility), comprised of a $1,850 million revolving line of credit (Revolving Facility) and a $500 million term loan (2014 Term Loan). As of the end of the second quarter of 2015, we had $495 million outstanding on the 2014 Term Loan and no borrowings outstanding under the Revolving Facility. In addition, as of the end of the second quarter of 2015, based on our borrowing base, we had $1,635 million available for borrowing, of which $310 million was reserved for outstanding standby and import letters of credit, none of which have been drawn on, leaving $1,325 million for future borrowings. The applicable rate for standby and import letters of credit was 2.50% and 1.25%, respectively, while the commitment fee was 0.375% for the unused portion of the Revolving Facility. |