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Revolving Credit Facility	6 Months Ended
Aug. 01, 2020
Revolving Credit Facility [Abstract]
Revolving Credit Facility	8. Revolving Credit Facility In the first quarter of 2020, we borrowed $330 million under our revolving credit facility. During the second quarter of 2020, we repaid the amount borrowed. On July 14, 2020, we amended to our credit agreement with the banks (as amended, “2020 Credit Agreement”). The 2020 Credit Agreement now provides for a $600 million asset-based revolving credit facility maturing on July 14, 2025. At our option, interest is determined by either (1) the eurodollar rate, determined by reference to LIBOR, plus a margin of 1.75 percent to 2.25 percent per annum, or (2) the base rate, determined by reference to the federal funds rate, plus a margin of 0.75 percent to 1.25 percent, in each case, depending on availability under the 2020 Credit Agreement. In addition, we are paying a commitment fee of 0.50 percent per annum on the unused portion of the commitments under the 2020 Credit Agreement. If certain specified events of default have occurred and are continuing, or if availability under the 2020 Credit Agreement is less than or equal to the greater of $60 million and 10 percent of the Loan Cap (as defined in the 2020 Credit Agreement), we are required to test compliance with a minimum consolidated fixed charge coverage ratio of 1.00 as of the end of each fiscal quarter.

Revolving Credit Facility

6 Months Ended

Aug. 01, 2020

Revolving Credit Facility [Abstract]

8. Revolving Credit Facility

In the first quarter of 2020, we borrowed $330 million under our revolving credit facility. During the second quarter of 2020, we repaid the amount borrowed. On July 14, 2020, we amended to our credit agreement with the banks (as amended, “2020 Credit Agreement”). The 2020 Credit Agreement now provides for a $600 million asset-based revolving credit facility maturing on July 14, 2025.

At our option, interest is determined by either (1) the eurodollar rate, determined by reference to LIBOR, plus a margin of 1.75 percent to 2.25 percent per annum, or (2) the base rate, determined by reference to the federal funds rate, plus a margin of 0.75 percent to 1.25 percent, in each case, depending on availability under the 2020 Credit Agreement. In addition, we are paying a commitment fee of 0.50 percent per annum on the unused portion of the commitments under the 2020 Credit Agreement.

If certain specified events of default have occurred and are continuing, or if availability under the 2020 Credit Agreement is less than or equal to the greater of $60 million and 10 percent of the Loan Cap (as defined in the 2020 Credit Agreement), we are required to test compliance with a minimum consolidated fixed charge coverage ratio of 1.00 as of the end of each fiscal quarter.