Financial Instruments

6 Months Ended

Jul. 31, 2013

Disclosure Text Block Supplement [Abstract]

Financial Instruments Disclosure [Text Block]

Note 8. Financial Instruments

The Company uses an interest rate swap to manage its interest rate exposure at One Earth by fixing the interest rate on a portion of the entity’s 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. The notional amount and fair value of the derivative, which is not designated as a cash flow hedge at July 31, 2013, are summarized in the table below (amounts in thousands):

	Notional Amount		Fair Value Liability
Interest rate swap	$	35,668	$	1,933

As the interest rate swap is not designated as a cash flow hedge, the unrealized gain and loss on the derivative is reported in current earnings. The Company reported losses of $10,000 and $79,000 in the second quarter of fiscal years 2013 and 2012, respectively. The Company reported losses of $6,000 and $226,000 in the first six months of fiscal years 2013 and 2012, respectively.