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Debt | 12 Months Ended
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Jan. 30, 2016
Debt Disclosure [Abstract] |
Debt | Debt The Company's outstanding debt consists of the following as of the end of the fiscal periods (in thousands):
| 2015 |  | 2014
Revolving line of credit | $ | — |  |  | $ | — |
Capital leases | 5,565 |  |  | 5,994 |
Other debt | 348 |  |  | 456 |
Total debt | 5,913 |  |  | 6,450 |
Less: current portion | (589 | ) |  | (537 | )
Total long-term debt | $ | 5,324 |  |  | $ | 5,913 |
Revolving Credit Agreement – On August 12, 2015, the Company entered into a five-year senior secured revolving credit agreement (the "Credit Agreement") that amended and restated the Company's then existing credit facility. The Credit Agreement provides for a $1 billion revolving credit facility, including up to $150 million in the form of letters of credit and allows the Company, subject to the satisfaction of certain conditions, to request an increase of up to $250 million in borrowing availability to the extent that existing or new lenders agree to provide such additional revolving commitments. Subject to specified conditions, the Credit Agreement matures on August 12, 2020. It is secured by a first priority security interest in certain property and assets, including receivables, inventory, deposit accounts, securities accounts and other personal property of the Company and is guaranteed by the Company's domestic subsidiaries. The annual interest rates applicable to loans under the Credit Agreement are, at the Company's option, equal to a base rate or an adjusted LIBOR rate plus, in each case, an applicable margin percentage. The applicable margin percentage for base rate loans is 0.125% to 0.375% and for adjusted LIBOR rate loans is 1.125% to 1.375%, depending on the borrowing availability of the Company. The Credit Agreement contains certain covenants that limit the ability of the Company to, among other things: incur or guarantee additional indebtedness; pay distributions on, redeem or repurchase capital stock or redeem or repurchase subordinated debt; make certain investments; sell assets; and consolidate, merge or transfer all or substantially all of the Company's assets. In addition, the Credit Agreement contains a covenant that requires the Company to maintain a minimum adjusted availability of 7.5% of its borrowing base. As of January 30, 2016, the Company was in compliance with the terms of the Credit Agreement. Credit Agreement information as of the fiscal periods ended (in thousands):
| 2015 |  | 2014
Outstanding borrowings under Credit Agreement | $ | — |  |  | $ | — |
Remaining borrowing capacity under Credit Agreement | $ | 985,969 |  |  | $ | 485,969 |
Outstanding letters of credit under Credit Agreement | $ | 14,031 |  |  | $ | 14,031 |
Capital Lease Obligations – The gross and net carrying values of assets under capital leases were $6.9 million and $0.4 million, respectively, as of January 30, 2016, and $7.3 million and $0.8 million, respectively, as of January 31, 2015. Scheduled lease payments under capital lease obligations as of January 30, 2016 are as follows (in thousands):
Fiscal Year |
2016 | $ | 1,024 |
2017 | 1,024 |
2018 | 1,044 |
2019 | 1,103 |
2020 | 1,103 |
Thereafter | 2,885 |
Subtotal | 8,183 |
Less: amounts representing interest | (2,618 | )
Present value of net scheduled lease payments | 5,565 |
Less: amounts due in one year | (474 | )
Total long-term capital leases | $ | 5,091 |

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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