Supplementary Cash Flow Information:

12 Months Ended

Apr. 30, 2012

Supplemental Cash Flow Elements [Abstract]

Supplementary Cash Flow Information:

Note 2-Supplementary Cash Flow Information:

	Fiscal Years ended April 30,
($ in thousands)	2012			2011			2010
State and local income tax payments	$	(159	)	$	(15	)	$	(531	)
Federal income tax payments to the Parent	$	(845	)	$	(348	)	$	(1,875	)
Federal income tax refunds from the Parent	$	-		$	1,598		$	-
Interest payments	$	-		$	(2	)	$	(21	)

The Company also received $1,598,000 of federal income tax refunds during the first quarter of fiscal 2011, which was included as prepaid and refundable income taxes in the Consolidated Balance Sheet of April 30, 2010.

On December 23, 2010, the Company completed the Restructuring Transaction which included the receipt of a non-voting revenues interest and a non-voting profits interest in EAM in exchange for VLI’s voting shares in EAM LLC and ESI. This investment, classified as Investment in EAM Trust on the Consolidated Balance Sheets, was valued at $55,805,000 as of December 23, 2010, which included $5,484,000 of cash and $1,516,000 of FDIC insured corporate notes, contributed by VLI to EAM as part of the Restructuring Transaction. The Company satisfied its non-cash post-employment compensation obligation, valued at $1,770,000, by granting a voting profits interest to a former employee in connection with the Restructuring Transaction.

As of April 30, 2012 and 2011, the Company’s investments in EAM of $56,331,000 and $56,367,000, respectively, were recorded on the Consolidated Balance Sheets.

See Note 3-Related Party Transactions for amounts associated with Arnold Bernhard and Co., Inc. (“AB&Co.” or the “Parent”).