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IMPAIRMENT OF ASSETS:
12 Months Ended
Apr. 30, 2013
Goodwill and Intangible Assets Disclosure [Abstract]  
Asset Impairment Charges [Text Block]
(14)         IMPAIRMENT OF ASSETS:
 
Real Estate – During  2013, certain real estate with carrying amounts of $4,949,000 was written down to its fair value of $3,466,000, less estimated costs to sell, resulting in an impairment charge of $1,511,000. During 2012, the carrying value of certain real estate consisting of take-back lots located in Rio Rancho was adjusted from $1,734,000 to fair value of $1,174,000, less estimated costs to sell, resulting in an impairment charge of $570,000. During 2011, the carrying value of certain real estate consisting of take-back and re-purchased lots located in Rio Rancho was adjusted from $12,172,000 to fair value of $7,022,000, less estimated costs to sell, resulting in an impairment charge of $5,209,000. In addition, during 2011, (i) certain real estate located in Colorado with a carrying amount of $4,133,000 was adjusted to its fair value of $3,010,000, less estimated costs to sell, resulting in an impairment charge of $1,168,000, and (ii) an impairment reserve of $450,000 was charged against a delinquent mortgage receivable note with a face amount of $901,000 as a result of the impairment of the underlying real estate collateral. The real estate impairment charges were the result of current appraisals that showed deterioration in the fair market values of the properties from the prior year and were included in results of operations for the applicable year.

Goodwill – The Company recorded a non-cash impairment charge related to all of the goodwill of its Newsstand Distribution Services business of $3,893,000 in 2011. The primary reasons for the goodwill impairment charge were the decrease in the Company’s total market capitalization to an amount that was less than its shareholders’ equity as of April 30, 2011 and the continued uncertainty of revenue trends in the newsstand distribution industry. The operating results and uncertain future expectations reflected the well-publicized decline in the magazine publishing industry, which represents the Newsstand Distribution Services business’s customer base, as well as the recession that impacted the U.S. economy and consumers and the uncertainty about the economy’s future at that time. There were no previous goodwill impairment charges recorded for the Newsstand Distribution Services business. The $3,893,000 goodwill impairment charge created a permanent tax difference of $1,363,000 (see Note 12). The impairment charge was included in results of operations for 2011.