Annual report pursuant to Section 13 and 15(d)

DEBT (Term Loan Credit Facility) (Narrative) (Details)

v3.20.4
DEBT (Term Loan Credit Facility) (Narrative) (Details)
3 Months Ended 12 Months Ended
Oct. 01, 2020
USD ($)
Aug. 30, 2019
USD ($)
Jul. 08, 2019
USD ($)
May 23, 2018
USD ($)
May 27, 2016
Oct. 31, 2020
USD ($)
Jan. 30, 2021
USD ($)
Feb. 01, 2020
USD ($)
Feb. 02, 2019
USD ($)
Debt                  
Repayment of term loan             $ 545,950,000 $ 24,900,000 $ 24,900,000
Total debt             2,536,650,000 2,682,550,000  
Net debt issuance costs             17,400,000    
Losses on early extinguishments of debt and refinancing costs           $ 22,000,000.0 22,044,000 1,316,000 $ 1,835,000
Asset-Based Revolving Credit Facility [Member] | Michaels Stores [Member]                  
Debt                  
Security interest granted in voting stock of foreign subsidiaries (as a percent)         65.00%        
Security interest granted in non-voting stock of foreign subsidiaries (as a percent)         100.00%        
Net debt issuance costs             2,700,000    
Losses on early extinguishments of debt and refinancing costs   $ 200,000              
Asset-Based Revolving Credit Facility [Member] | Michaels Stores [Member] | Federal Funds [Member]                  
Debt                  
Margin basis spread on reference rate (as a percent)         0.50%        
Asset-Based Revolving Credit Facility [Member] | Michaels Stores [Member] | LIBOR [Member]                  
Debt                  
Margin basis spread on reference rate (as a percent)         1.25%        
Asset-Based Revolving Credit Facility [Member] | Michaels Stores [Member] | LIBOR - Floor Rate [Member]                  
Debt                  
Margin basis spread on reference rate (as a percent)         1.00%        
Term Loan Credit Facility [Member]                  
Debt                  
Repayment of term loan             500,100,000    
Total debt             $ 1,661,650,000 2,182,550,000  
Consolidated secured debt ratio, maturity date acceleration trigger             3.25    
Term Loan Credit Facility [Member] | Michaels Stores [Member]                  
Debt                  
Prepayment requirement as a percentage of net proceeds of any debt issued       100.00%          
Security interest granted in voting stock of foreign subsidiaries (as a percent)       65.00%          
Security interest granted in non-voting stock of foreign subsidiaries (as a percent)       100.00%          
Net debt issuance costs             $ 4,700,000    
Losses on early extinguishments of debt and refinancing costs       $ 1,800,000          
Term Loan Credit Facility [Member] | Michaels Stores [Member] | Maximum [Member]                  
Debt                  
Consolidated total leverage ratio       3.75          
Amended and Restated Term Loan Credit Facility [Member]                  
Debt                  
Issue price as a percentage of face value 98.50%                
Debt maturity date Oct. 01, 2027                
Maximum amount of additional term loans which the entity has the right to request             $ 650,000,000    
Right to request maximum additional borrowings, percentage of adjusted EBITDA             100.00%    
Scheduled quarterly payments as a percentage of the original principal amount of the term loans 0.25%                
Percentage of soft call premium applicable to debt 1.00%                
Amended and Restated Term Loan Credit Facility [Member] | Other Indebtedness Exceeds $100 million [Member]                  
Debt                  
Debt maturity date Apr. 15, 2027                
Amended and Restated Term Loan Credit Facility [Member] | Michaels Stores [Member]                  
Debt                  
Losses on early extinguishments of debt and refinancing costs             $ 22,000,000.0    
Amended and Restated Term Loan Credit Facility, 2.50% Margin [Member] | Base Rate [Member]                  
Debt                  
Margin basis spread on reference rate (as a percent) 2.50%                
Amended and Restated Term Loan Credit Facility, 2.50% Margin [Member] | Federal Funds [Member]                  
Debt                  
Margin basis spread on reference rate (as a percent) 0.50%                
Amended and Restated Term Loan Credit Facility, 2.50% Margin [Member] | LIBOR [Member]                  
Debt                  
Margin basis spread on reference rate (as a percent) 1.00%                
Amended and Restated Term Loan Credit Facility, 2.50% Margin [Member] | LIBOR - Floor Rate [Member]                  
Debt                  
Margin basis spread on reference rate (as a percent) 1.75%                
Amended and Restated Term Loan Credit Facility, 3.50% Margin [Member]                  
Debt                  
Margin basis spread on reference rate (as a percent) 3.50%                
Amended and Restated Term Loan Credit Facility, 3.50% Margin [Member] | LIBOR - Floor Rate [Member]                  
Debt                  
Margin basis spread on reference rate (as a percent) 0.75%                
8.00% Senior Notes [Member]                  
Debt                  
Principal amount of notes issued     $ 500,000,000            
Debt maturity date     Jul. 15, 2027            
Total debt             $ 500,000,000 $ 500,000,000  
Consolidated total leverage ratio             3.25    
Net debt issuance costs             $ 4,900,000    
8.00% Senior Notes [Member] | Amended and Restated Term Loan Credit Facility [Member]                  
Debt                  
Threshold amount of debt that will trigger maturity date adjustment $ 100,000,000