XML 47 R12.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Credit Arrangements | 3 Months Ended
--- | ---
May 31, 2012
Credit Arrangements [Abstract] |
Credit Arrangements | (7) Credit Arrangements At May 31, 2012 and 2011 and August 31, 2011, the Company believes it was in compliance with all loan covenants. Changes to credit arrangements since August 31, 2011 consist of the following: Euro Line of Credit The Company’s wholly-owned European subsidiary, Lindsay Europe, has an unsecured revolving line of credit with Societe Generale, a European commercial bank, under which it could borrow for working capital purposes up to 2.3 million Euros (the “Euro Line of Credit”). On January 23, 2012, the Company extended the Euro Line of Credit with Societe Generale through January 31, 2013. There were no borrowings outstanding on this credit agreement at May 31, 2012 or August 31, 2011. There was $1.3 million outstanding on this credit agreement at May 31, 2011. Under the terms of the Euro Line of Credit, borrowings, if any, bear interest at a floating rate in effect from time to time designated by the commercial bank as the Euro Interbank Offered Rate plus 110 basis points, (1.78 percent at May 31, 2012). Unpaid principal and interest is due by January 31, 2013. Outstanding long-term debt consists of the following:
|  | May 31, |  | May 31, |  | August 31, |
$ in thousands |  | 2012 |  | 2011 |  | 2011 |
BSI Term Note |  | $ | 5,357 |  | $ | 9,643 |  | $ | 8,571 |
Less current portion |  |  | (4,286) |  |  | (4,286) |  |  | (4,286) |
Total long-term debt |  | $ | 1,071 |  | $ | 5,357 |  | $ | 4,285 |
Principal payments due on long-term debt are as follows:
Due within: |  |  |
1 year |  | $ | 4,286
2 years |  |  | 1,071
|  | $ | 5,357

X
- 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 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 Reference 2: 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 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_LineOfCreditFacilityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration