XML 38 R18.htm IDEA: XBRL DOCUMENT

FINANCIAL INSTRUMENTS

12 Months Ended

Jan. 31, 2012

Financial Instruments Disclosure [Text Block]


11.	FINANCIAL INSTRUMENTS

	The Company uses interest rate swaps to manage its interest rate exposure at One Earth by fixing the interest rate on a portion of the variable rate debt. The Company does not engage in trading activities involving derivative contracts for which a lack of marketplace quotations would necessitate the use of fair value estimation techniques. As of January 31, 2012, the notional value of the interest rate swap was approximately $41.8 million. At January 31, 2012, the Company has recorded a liability of approximately $4.2 million related to the fair value of the swap. The change in fair value was recorded in the Consolidated Statements of Operations. The notional amounts and fair values of derivatives, all of which are not designated as cash flow hedges at January 31, 2012 are summarized in the table below (amounts in thousands):


			Notional Amount			Fair Value Liability

Interest rate swaps		$	41,824		$	4,235


	The notional amounts and fair values of derivatives, all of which are not designated as cash flow hedges at January 31, 2011 are summarized in the table below (amounts in thousands):


			Notional Amount			Fair Value Liability

Interest rate swaps		$	68,138		$	5,523


	As the interest rate swap is not designated as a cash flow hedge, the realized and unrealized gains and losses on the derivative instruments is reported in current earnings. The Company reported losses of approximately $1,148,000 $2,116,000 and $2,487,000, in fiscal years 2011, 2010 and 2009, respectively.

	Swap settlement payments to the counterparty totaled approximately $2,436,000, $2,477,000 and $2,510,000 in fiscal years 2011, 2010 and 2009, respectively.