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Note 12 - Debt | 12 Months Ended
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Jan. 31, 2018
Notes to Financial Statements |
Debt Disclosure [Text Block] | Note 12 - Debt On March 2, 2016, we amended our revolving debt facility with a new senior secured credit facility. The credit facility consists of a $150.0 million revolving operating credit facility to be available for general corporate purposes including the financing of ongoing working capital needs and acquisitions. The credit facility also provides for an additional $7.5 million available to support foreign exchange and interest rate hedging. The credit facility has a five -year maturity with no fixed repayment dates prior to the end of the five -year term ending March 2, 2021. Borrowings under the credit facility are secured by a first charge over substantially all of Descartes’ assets. Depending on the type of advance, interest rates under the revolving operating portion of the credit facility are based on the Canada or US prime rate, Bankers’ Acceptance (BA) or London Interbank Offered Rate (LIBOR) plus an additional 0 to 200 basis points based on the ratio of net debt to adjusted earnings before interest, taxes, depreciation and amortization, as defined in the credit agreement. A standby fee of between 20 to 28 basis points will be charged on all undrawn amounts. The credit facility contains certain customary representations, warranties and guarantees, and covenants. Long-term debt is comprised of the following:
|  |  | January 31, 2018 |  |  |  | January 31, 2017 |
Credit facility |  |  | 37,000 |  |  |  | - |
Total amount outstanding |  |  | 37,000 |  |  |  | - |
Available for use |  |  | 113,000 |  |  |  | 150,000 |
The outstanding balance of $37.0 million is required to be repaid prior to March 2, 2021. No amounts have been drawn on the facility that are available to support foreign exchange and interest rate hedging. We are in compliance with the covenants of the credit facility as of January 31, 2018. As at January 31, 2018, we have outstanding letters of credit of approximately $0.3 million ( $0.3 million as at January 31, 2017), which are not related to our credit facility.

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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 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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