XML 62 R23.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Investments (Tables) | 9 Months Ended
--- | ---
Jan. 31, 2013
Investments, Debt and Equity Securities [Abstract] |
Schedule of carrying value and fair value of securities available-for-sale | The carrying value and fair value of securities available-for-sale at January 31, 2013 were as follows:
($ in thousands) |  | Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Common stocks |  | $ | 103 |  |  | $ | 19 |  |  | $ | (11 | ) |  | $ | 111 |
ETFs - equities |  |  | 2,969 |  |  |  | 419 |  |  |  | - |  |  |  | 3,388 |
Inverse ETFs - equities |  |  | 1,878 |  |  |  | - |  |  |  | (225 | ) |  |  | 1,653 |
|  | $ | 4,950 |  |  | $ | 438 |  |  | $ | (236 | ) |  | $ | 5,152 |
The carrying value and fair value of securities available-for-sale at April 30, 2012 were as follows:
($ in thousands) |  | Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Common stocks |  | $ | 103 |  |  | $ | 14 |  |  | $ | (5 | ) |  | $ | 112 |
ETFs - equities |  |  | 2,257 |  |  |  | 201 |  |  |  | (5 | ) |  |  | 2,453 |
Inverse ETFs - equities |  |  | 1,389 |  |  |  | - |  |  |  | (73 | ) |  |  | 1,316 |
|  | $ | 3,749 |  |  | $ | 215 |  |  | $ | (83 | ) |  | $ | 3,881
Schedule of income from securities transactions |
|  | Three Months Ended January 31, |  |  | Nine Months Ended January 31, |
($ in thousands) |  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
Dividend income |  | $ | 34 |  |  | $ | 19 |  |  | $ | 91 |  |  | $ | 46 |
Interest income |  |  | 3 |  |  |  | 2 |  |  |  | 4 |  |  |  | 16 |
Realized losses on securities available-for- sale (1) |  |  | - |  |  |  | (18 | ) |  |  | - |  |  |  | (22 | )
Other |  |  | - |  |  |  | - |  |  |  | (2 | ) |  |  | (6 | )
Total income from securities transactions, net |  | $ | 37 |  |  | $ | 3 |  |  | $ | 93 |  |  | $ | 34 |
(1) This amount was reclassified from Accumulated Other Comprehensive Income in the Consolidated Condensed Balance Sheets to the Consolidated Condensed Statements of Income.
Schedule of components of EAM's investment management operations |
|  | Three Months Ended January 31, |  |  | Nine Months Ended January 31, |
($ in thousands) (unaudited) |  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
Investment management fees earned from the Value Line Funds, net of waivers shown below |  | $ | 3,252 |  |  | $ | 3,038 |  |  | $ | 9,481 |  |  | $ | 9,296 |
12b-1 fees and other fees, net of waivers shown below |  | $ | 992 |  |  | $ | 838 |  |  | $ | 2,868 |  |  | $ | 2,588 |
Other income |  | $ | 5 |  |  | $ | 5 |  |  | $ | 5 |  |  | $ | 14 |
Investment management fee waivers (1) |  | $ | 16 |  |  | $ | 179 |  |  | $ | 362 |  |  | $ | 636 |
12b-1 fee waivers (1) |  | $ | 545 |  |  | $ | 534 |  |  | $ | 1,633 |  |  | $ | 1,700 |
Value Line’s non-voting revenues interest |  | $ | 1,472 |  |  | $ | 1,430 |  |  | $ | 4,280 |  |  | $ | 4,251 |
EAM’s net income (2) |  | $ | 306 |  |  | $ | 52 |  |  | $ | 694 |  |  | $ | 240 |
(1) During fiscal 2013 investment management fee waivers primarily related to the U.S. Government Money Market Fund (“USGMMF”) which was merged into a third party fund, the Daily Income Fund, managed by Reich & Tang, effective October 19, 2012. The 12b-1 fee waivers related to nine of the Value Line Mutual Funds. In fiscal 2012, investment management fee waivers primarily related to the USGMMF and the 12b-1 fee waivers related to eleven of the Value Line Mutual Funds. (2) Represents EAM’s net income, after giving effect to Value Line’s non-voting revenues interest, but before distributions to voting profits interest holders and to the Company in respect of its 50% non-voting profits interest.
Schedule of assets and liabilities |
|  | January 31, |  |  | April 30, |
($ in thousands) |  | 2013 |  |  | 2012 |
| (unaudited) |  |  |  |  |
EAM’s total assets |  | $ | 59,141 |  |  | $ | 57,482 |
EAM’s total liabilities (1) |  |  | (2,664 | ) |  |  | (663 | )
EAM’s total equity |  | $ | 56,477 |  |  | $ | 56,819 |
(1) At January 31, 2013, EAM’s total liabilities included a payable to VLI for its accrued non-voting revenues and non-voting profits interests of $1,588,000.

X
- Definition Tabular disclosure of the investment holdings which are represented by other than securities (for example, commodities). The investment holdings, other than securities investments table lists the long positions of non-security investments held by entity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Article 12 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 5 -Subparagraph (SX 210.12-13) -URI http://asc.fasb.org/extlink&oid=6955306&loc=d3e611282-123010 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 13 -Article 12 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12C -Article 12 + Details
Name: | us-gaap_InvestmentHoldingsOtherThanSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of investment income derived from investments in debt and equity securities consisting of interest income earned from investments in debt securities and on cash and cash equivalents, dividend income from investments in equity securities, and income or expense derived from the amortization of investment related discounts or premiums, respectively. This item does not include realized or unrealized gains or losses on the sale or holding of investments in debt and equity securities required to be included in earnings for the period or for other than temporary losses related to investments in debt and equity securities which are included in realized losses in the period recognized. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Staff Position (FSP) -Number FAS115-1/124-1 -Paragraph 13, 14, 15, 16 -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. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 14, 16 -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. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.8) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.9) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.7(a),(b)) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
Name: | us-gaap_InvestmentIncomeTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the summary of investment holdings. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 4 -Subparagraph (SX 210.12-12C) -URI http://asc.fasb.org/extlink&oid=6955306&loc=d3e611225-123010 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12C -Article 12 + Details
Name: | us-gaap_SummaryInvestmentHoldingsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration