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Interest Rate Swap Agreements (Tables)

6 Months Ended

Sep. 30, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule Of Notional Amounts Of Interest Rate Swaps

The following table summarizes the activity in the notional amounts of interest rate swap agreements:


	Six months ended September 30,
	2012		2011
Notional amounts at April 1	$	—	$	—
New contracts		50,000,000		—
Matured contracts		—		—

Notional amounts at September 30	$	50,000,000	$	—

Schedule of locations and amounts of losses recognized in income

The locations and amounts of losses in income are as follows:


	Three months ended September 30,				Six months ended September 30,
	2012		2011		2012		2011
Periodic change in fair value of interest rate swap agreements	$	474,019	$	—	$	683,120	$	—
Periodic settlement differentials included in interest expense		77,606		—		93,424		—

Total	$	551,625	$	—	$	776,544	$	—

Schedule of average variable rates received and average fixed rates paid under the swap agreements

The following table summarizes the variable rate (LIBOR) received and fixed rate paid under the swap agreement.


	Three months ended September 30,					Six months ended September 30,
	2012			2011		2012			2011
Variable rate received		0.24	%		—		0.24	%		—
Fixed rate paid		0.95	%		—		0.96	%		—

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References+ Details