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Document and Entity Information (USD $)
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12 Months Ended | ||
|---|---|---|---|
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Mar. 31, 2012
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May 01, 2012
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Sep. 30, 2011
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| Document and Entity Information [Abstract] | |||
| Entity Registrant Name | CAPITAL SOUTHWEST CORP | ||
| Entity Central Index Key | 0000017313 | ||
| Current Fiscal Year End Date | --03-31 | ||
| Entity Well-known Seasoned Issuer | No | ||
| Entity Voluntary Filers | No | ||
| Entity Current Reporting Status | Yes | ||
| Entity Filer Category | Accelerated Filer | ||
| Entity Public Float | $ 193,363,554 | ||
| Entity Common Stock, Shares Outstanding | 3,754,538 | ||
| Document Fiscal Year Focus | 2012 | ||
| Document Fiscal Period Focus | FY | ||
| Document Type | 10-K | ||
| Amendment Flag | false | ||
| Document Period End Date | Mar. 31, 2012 |
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- Details
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- Definition
If the value is true, then the document as an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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| X | ||||||||||
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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| X | ||||||||||
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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| X | ||||||||||
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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| X | ||||||||||
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- Definition
The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type is limited to the same value as the supporting SEC submission type, minus any "/A" suffix. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, 497, NCSR, N-CSR, N-CSRS, N-Q, 10-KT, 10-QT, 20-FT, POS AM and Other. No definition available.
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| X | ||||||||||
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Indicate number of shares outstanding of each of registrant's classes of common stock, as of latest practicable date. Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [Member] onto the Instrument [Domain] of the Entity Listings, Instrument No definition available.
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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| X | ||||||||||
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, or (4) Smaller Reporting Company. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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| X | ||||||||||
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- Definition
State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K. No definition available.
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| X | ||||||||||
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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| X | ||||||||||
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- Definition
Fair value as of the balance sheet date of investments, in which the Company owns between 5% and 25% of the voting securities. No definition available.
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| X | ||||||||||
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- Definition
Fair value as of the balance sheet date of investments, in which the Company owns more than 25% of the voting securities. No definition available.
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| X | ||||||||||
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- Definition
Carrying amount as of the balance sheet date of dividends declared and interest earned but not received. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The sum of liabilities and net assets. No definition available.
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| X | ||||||||||
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- Definition
Net asset value per share No definition available.
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| X | ||||||||||
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- Definition
Fair value as of the balance sheet date of investments, in which the Company owns less than 5% of the voting securities. No definition available.
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| X | ||||||||||
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- Definition
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net of assets and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cumulative amount for all deferred tax liabilities as of the balance sheet date arising from temporary differences between accounting income in accordance with generally accepted accounting principles and tax-basis income that will result in future taxable income exceeding future accounting income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This represents the entire liability recognized in the balance sheet that is associated with the defined benefit pension plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This represents the entire assets recognized in the balance sheet that are associated with the defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
For an unclassified balance sheet, amount of receivables due from an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Value of the investment at close of period. For schedules of investments that are categorized, the value would be aggregated by category. For investment in and advances to affiliates, if operations of any controlled companies are different in character from those of the company, group such affiliates within divisions and by type of activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the excess of the cost (face amount, notional amount) of an investment (security, contract) over its fair value which deficiency has not been recognized in earnings of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The aggregate carrying amounts, as of the balance sheet date, of assets not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate carrying amount, as of the balance sheet date, of liabilities not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
A segregation of retained earnings which is available for dividend distribution. Earnings not paid out as dividends but instead reinvested in the core business or used to pay off debt. Unappropriated profit is part of shareholder equity. Also called cumulative distributions or earned surplus or accumulated earnings or unappropriated profit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the accumulated amount as of the reporting date of undistributed income derived from the gain (loss) on sale of properties which is otherwise disclosed. The purpose of separately disclosing such information is to distinguish between income generated from the gain (loss) attributable to the sale of a real estate investment trust's portfolio properties and the operation of such properties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (Parenthetical) (USD $)
In Thousands, except Share data, unless otherwise specified |
Mar. 31, 2012
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Mar. 31, 2011
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|---|---|---|
| Investments at market or fair value | ||
| Companies more than 25% owned, Cost | $ 14,870 | $ 25,521 |
| Companies 5% to 25% owned, Cost | 14,003 | 14,049 |
| Companies less than 5% owned, Cost | 60,120 | 58,784 |
| Total investments, Cost | $ 88,993 | $ 98,354 |
| Net Assets | ||
| Common stock, par value (in dollars per share) | $ 1 | $ 1 |
| Common stock, authorized (in shares) | 5,000,000 | 5,000,000 |
| Common stock, issued (in shares) | 4,339,416 | 4,337,916 |
| Treasury stock, at cost (in shares) | 584,878 | 584,878 |
| Net asset value per share (in shares) | 3,754,538 | 3,753,038 |
| X | ||||||||||
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- Definition
Cost as of the balance date of investments, in which the the Company owns between 5% to 25% of the voting securities. No definition available.
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| X | ||||||||||
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- Definition
Cost as of the balance date of investments, in which the the Company owns more than 25% of the voting securities. No definition available.
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- Details
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| X | ||||||||||
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- Definition
Total number of shares outstanding utilized to calculate net asset value per share. No definition available.
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| X | ||||||||||
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- Definition
Cost as of the balance date of investments, in which the the Company owns less than 5% of the voting securities. No definition available.
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- Details
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| X | ||||||||||
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- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Cost of the investment. No definition available.
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| X | ||||||||||
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- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The costs of investments sold by an entity during the reporting period. No definition available.
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of net assets from operations. No definition available.
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period of the excess of the cost (face amount, notional amount) of an investment (security, contract) over its fair value which deficiency has not been recognized in earnings of the entity. No definition available.
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| X | ||||||||||
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- Definition
This item represents the gain (loss) realized during the period from the sale of investments before income tax. No definition available.
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| X | ||||||||||
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- Definition
Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Revenue recognized in the period for (1) performance (incentive) fees based on the investment results achieved for management of certain institutional accounts and hedge funds, (2) schedule-based fees earned for management of mutual funds and closed-end funds, based either on average daily net assets or on a combination of the average daily net assets and gross income, and (3) other investment management and advisory fees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The component of income tax expense for the period representing amounts of income taxes paid or payable (or refundable) for the period for all income tax obligations as determined by applying the provisions of relevant enacted tax laws to relevant amounts of taxable Income or Loss from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Earned dividend income on equity securities that are part of the trading and investment portfolios owned by the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net realized gain (loss) on investments sold during the period, not including gains (losses) on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, which, for cash flow reporting, is a component of proceeds from investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Interest generated from day to day operating activities of the business. This element represents a revenue generating activity and is therefore gross (before any related cost of revenue items). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The income earned from investments in securities and property, equipment and other capital assets. It includes rent from property and equipment, dividends from shares in corporations, and interest from bonds, loans, mortgages, derivatives, commercial paper, bank accounts, certificates of deposits, treasuries, and other financial securities. It does not include realized gains and losses on investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
This element represents a sum total of expenses not separately reflected on the income statement for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net cash paid (received) associated with the acquisition or disposal of all investments, including securities and other assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of pension benefit costs recognized during the period for (1) defined benefit plans and (2) defined contribution plans. For defined benefit plans, pension expense includes the following components: service cost, interest cost, expected return on plan assets, gain (loss) on plan assets, prior service cost or credit, transition asset or obligation, and gain (loss) due to settlements or curtailments. For defined contribution plans, the pension expense generally equals the firm's contribution to employees' accounts (if the firm contributes) during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Expenditures for salaries other than officers. Does not include allocated share-based compensation, pension and post-retirement benefit expense or other labor-related non-salary expense. For commercial and industrial companies, excludes any direct and overhead labor that is included in cost of goods sold. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
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Mar. 31, 2012
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Mar. 31, 2011
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Mar. 31, 2010
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|
| Operations: | |||
| Net investment income | $ 2,544 | $ 1,804 | $ 2,091 |
| Net realized gain on investments | 10,578 | 38,885 | 826 |
| Net increase in unrealized appreciation of investments | 78,635 | 12,999 | 70,624 |
| Increase in net assets from operations | 91,757 | 53,688 | 73,541 |
| Distributions from: | |||
| Undistributed net investment income | (3,003) | (2,994) | (2,993) |
| Net realized gains deemed distributed to shareholders | (3,216) | (45,748) | (868) |
| Capital share transactions: | |||
| Allocated increase in share value for deemed distribution | 3,216 | 45,748 | 868 |
| Change in pension plan funded status | (430) | (89) | 440 |
| Exercise of employee stock options | 99 | 745 | 0 |
| Stock option expense | 1,050 | 957 | 675 |
| Increase in net assets | 89,473 | 52,307 | 71,663 |
| Net assets, beginning of period | 539,233 | 486,926 | 415,263 |
| Net assets, end of period | $ 628,706 | $ 539,233 | $ 486,926 |
| X | ||||||||||
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- Definition
Allocated increase (decrease) in the period in share value for deemed distribution. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of net assets from operations. No definition available.
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of net assets. No definition available.
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period of the excess of the cost (face amount, notional amount) of an investment (security, contract) over its fair value which deficiency has not been recognized in earnings of the entity. No definition available.
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| X | ||||||||||
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- Definition
This item represents the total realized gain (loss) during the reporting period for long-term capital gains that are distributed to its shareholders. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Undistributed net investment income during the reporting period. No definition available.
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| X | ||||||||||
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- Definition
The net of assets and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net realized gain (loss) on investments sold during the period, not including gains (losses) on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, which, for cash flow reporting, is a component of proceeds from investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the amount due to fund retirement benefits to employees, retired and disabled former employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The income earned from investments in securities and property, equipment and other capital assets. It includes rent from property and equipment, dividends from shares in corporations, and interest from bonds, loans, mortgages, derivatives, commercial paper, bank accounts, certificates of deposits, treasuries, and other financial securities. It does not include realized gains and losses on investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The noncash expense that accounts for the value of stock or unit options distributed to employees as compensation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of net assets from operations. No definition available.
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period of the excess of the cost (face amount, notional amount) of an investment (security, contract) over its fair value which deficiency has not been recognized in earnings of the entity. No definition available.
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| X | ||||||||||
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- Definition
Element represents payment of federal income tax for deemed capital gains distribution. No definition available.
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| X | ||||||||||
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- Definition
This item represents the gain (loss) realized during the period from the sale of investments before income tax. No definition available.
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| X | ||||||||||
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- Definition
Federal taxes paid on behalf of shareholders on the long-term capital gains for the benefit of its shareholders. No definition available.
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| X | ||||||||||
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- Definition
Undistributed net investment income during the reporting period. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in cash and cash equivalents. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate net amount of depreciation, amortization, and accretion recognized during an accounting period. As a noncash item, the net amount is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in receivables to be collected from an entity that is controlling, under the control of, or within the same control group as the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the account that represents the temporary difference that results from Income or Loss that is recognized for accounting purposes but not for tax purposes and vice versa. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the aggregate amount due to the entity in the form of unpaid interest and dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in other liabilities used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current liabilities, other noncurrent liabilities, or a combination of other current and noncurrent liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Cash paid to purchase debt and equity securities, classified as operating activities, during the period; includes trading securities and any other investments classified as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of pension benefit costs recognized during the period for (1) defined benefit plans and (2) defined contribution plans. For defined benefit plans, pension expense includes the following components: service cost, interest cost, expected return on plan assets, gain (loss) on plan assets, prior service cost or credit, transition asset or obligation, and gain (loss) due to settlements or curtailments. For defined contribution plans, the pension expense generally equals the firm's contribution to employees' accounts (if the firm contributes) during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow in aggregate debt due to repayments and proceeds from additional borrowings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the sale, maturity and collection of all investments such as debt, security and so forth during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The noncash expense that accounts for the value of stock or unit options distributed to employees as compensation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Value of real estate transferred in noncash transactions during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
CONSOLIDATED SCHEDULE OF INVESTMENTS (USD $)
|
12 Months Ended | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2012
|
Mar. 31, 2011
|
|||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Cost | $ 88,993,000 | $ 98,354,000 | ||||||||||||||||||
| Value | 558,546,000 | 489,273,000 | ||||||||||||||||||
|
ALAMO GROUP INC. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Description of company | Tractor-mounted mowing and mobile excavation equipment for governmental, industrial and agricultural markets; street-sweeping equipment for municipalities. | [1],[2],[3],[4] | ||||||||||||||||||
| Equity (in hundredths) | 22.00% | [1],[2],[3],[4],[5] | 22.00% | [1],[2],[3],[4],[5] | ||||||||||||||||
| Investment | ‡2,832,300 shares common stock (acquired 4-1-73 thru 5-09-11) | [1],[2],[3],[4],[6] | 2,830,300 shares common stock (acquired 4-1-73 thru 5-25-07) | [1],[2],[3],[4],[6] | ||||||||||||||||
| Cost | 2,190,937 | [1],[2],[3],[4] | 2,190,937 | [1],[2],[3],[4] | ||||||||||||||||
| Value | 85,138,938 | [1],[2],[3],[4],[7] | 62,266,600 | [1],[2],[3],[4],[7] | ||||||||||||||||
|
ATLANTIC CAPITAL BANCSHARES, INC. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 1.90% | [1],[2],[5] | 1.90% | [1],[2],[5] | ||||||||||||||||
| Investment | 300,000 shares common stock (acquired 4-10-07) | [1],[2],[6] | 300,000 shares common stock (acquired 4-10-07) | [1],[2],[6] | ||||||||||||||||
| Cost | 3,000,000 | [1],[2] | 3,000,000 | [1],[2] | ||||||||||||||||
| Value | 2,299,000 | [1],[2],[7] | 2,257,000 | [1],[2],[7] | ||||||||||||||||
|
BALCO, INC. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 95.70% | [1],[2],[3],[5] | 90.90% | [1],[2],[3],[5] | ||||||||||||||||
| Investment | 445,000 shares common stock and 60,920 shares Class B non-voting common stock (acquired 10-25-83 and 5-30-02) | [1],[2],[3],[6] | 445,000 shares common stock and 60,920 shares Class B non-voting common stock (acquired 10-25-83 and 5-30-02) | [1],[2],[3],[6] | ||||||||||||||||
| Cost | 624,920 | [1],[2],[3] | 624,920 | [1],[2],[3] | ||||||||||||||||
| Value | 4,100,000 | [1],[2],[3],[7] | 5,200,000 | [1],[2],[3],[7] | ||||||||||||||||
|
BOXX TECHNOLOGIES, INC. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 14.90% | [1],[2],[4],[5] | 14.90% | [1],[2],[4],[5] | ||||||||||||||||
| Investment | 3,125,354 shares Series B Convertible Preferred Stock, convertible into 3,125,354 shares of common stock at $0.50 per share (acquired 8-20-99 thru 8-8-01) | [1],[2],[4],[6] | 3,125,354 shares Series B Convertible Preferred Stock, convertible into 3,125,354 shares of common stock at $0.50 per share (acquired 8-20-99 thru 8-8-01) | [1],[2],[4],[6] | ||||||||||||||||
| Cost | 1,500,000 | [1],[2],[4] | 1,500,000 | [1],[2],[4] | ||||||||||||||||
| Value | 600,000 | [1],[2],[4],[7] | 2 | [1],[2],[4],[7] | ||||||||||||||||
|
CINATRA CLEAN TECHNOLOGIES, INC. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 73.40% | [1],[2],[5] | 68.80% | [1],[2],[5] | ||||||||||||||||
| Cost | 13,563,842 | [1],[2] | 10,124,714 | [1],[2] | ||||||||||||||||
| Value | 6,002,348 | [1],[2],[7] | 10,124,714 | [1],[2],[7] | ||||||||||||||||
|
CINATRA CLEAN TECHNOLOGIES, INC. [Member] | Investment Type 1 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 12% subordinated secured promissory note, due 2016 (acquired 5-19-10 thru 10-20-10) | [1],[2],[6] | 12% subordinated secured promissory note, due 2012 (acquired 5-19-10 thru 10-20-10) | [1],[2],[6] | ||||||||||||||||
| Cost | 779,278 | [1],[2] | 890,604 | [1],[2] | ||||||||||||||||
| Value | 444,189 | [1],[2],[7] | 890,604 | [1],[2],[7] | ||||||||||||||||
|
CINATRA CLEAN TECHNOLOGIES, INC. [Member] | Investment Type 2 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 12% subordinated secured promissory note, due 2017 (acquired 5-9-11 thru 10-26-11) | [1],[2],[6] | 10% subordinated secured promissory note, due 2013 (acquired 7-14-08 thru 4-28-10) | [1],[2],[6] | ||||||||||||||||
| Cost | 2,285,700 | [1],[2] | 6,200,700 | [1],[2] | ||||||||||||||||
| Value | 1,302,849 | [1],[2],[7] | 6,200,700 | [1],[2],[7] | ||||||||||||||||
|
CINATRA CLEAN TECHNOLOGIES, INC. [Member] | Investment Type 3 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 12% subordinated secured promissory note, due 2016 (acquired 9-9-11 and 10-26-11) | [1],[2],[6] | 3,033,410 shares Series A Convertible Preferred Stock, convertible into 3,033,410 shares common stock at $1.00 per share (acquired 7-14-08 thru 11-18-10) | [1],[2],[6] | ||||||||||||||||
| Cost | 1,264,754 | [1],[2] | 3,033,410 | [1],[2] | ||||||||||||||||
| Value | 720,910 | [1],[2],[7] | 3,033,410 | [1],[2],[7] | ||||||||||||||||
|
CINATRA CLEAN TECHNOLOGIES, INC. [Member] | Investment Type 4 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 10% subordinated secured promissory note, due 2017 (acquired 7-14-08 thru 4-28-10) | [1],[2],[6] | ||||||||||||||||||
| Cost | 6,200,700 | [1],[2] | ||||||||||||||||||
| Value | 3,534,399 | [1],[2],[7] | ||||||||||||||||||
|
CINATRA CLEAN TECHNOLOGIES, INC. [Member] | Investment Type 5 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 3,033,410 shares Series A Convertible Preferred Stock, convertible into 3,033,410 shares common stock at $1.00 per share (acquired 7-14-08 thru 11-18-10) | [1],[2],[6] | ||||||||||||||||||
| Cost | 3,033,410 | [1],[2] | ||||||||||||||||||
| Value | 1 | [1],[2],[7] | ||||||||||||||||||
|
CINATRA CLEAN TECHNOLOGIES, INC. [Member] | Investment Type 6 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | Warrants to purchase 1,269,833 shares of common stock at $1.00 per share, expiring 2021 (acquired 5-9-11 thru 8-31-11) | [1],[2],[6] | ||||||||||||||||||
| Cost | 0 | [1],[2] | ||||||||||||||||||
| Value | 0 | [1],[2],[7] | ||||||||||||||||||
|
ENCORE WIRE CORPORATION [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 16.90% | [1],[2],[4],[5],[8] | 16.90% | [1],[2],[4],[5],[8] | ||||||||||||||||
| Investment | ‡4,086,750 shares common stock (acquired 7-16-92 thru 10-7-98) | [1],[2],[4],[6],[8] | 4,086,750 shares common stock (acquired 7-16-92 thru 10-7-98) | [1],[2],[4],[6],[8] | ||||||||||||||||
| Cost | 5,800,000 | [1],[2],[4],[8] | 5,800,000 | [1],[2],[4],[8] | ||||||||||||||||
| Value | 121,458,210 | [1],[2],[4],[7],[8] | 81,735,000 | [1],[2],[4],[7],[8] | ||||||||||||||||
|
EXTREME INTERNATIONAL, INC. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 53.60% | [1],[2],[5] | 53.60% | [1],[2],[5] | ||||||||||||||||
| Cost | 3,325,875 | [1],[2] | 3,325,875 | [1],[2] | ||||||||||||||||
| Value | 10,162,000 | [1],[2],[7] | 11,603,000 | [1],[2],[7] | ||||||||||||||||
|
EXTREME INTERNATIONAL, INC. [Member] | Investment Type 1 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 13,035 shares Series A Common Stock (acquired 9-26-08 and 12-18-08) | [1],[2],[6] | 13,035 shares Series A Common Stock (acquired 9-26-08 and 12-18-08) | [1],[2],[6] | ||||||||||||||||
| Cost | 325,875 | [1],[2] | 325,875 | [1],[2] | ||||||||||||||||
| Value | 714,000 | [1],[2],[7] | 815,000 | [1],[2],[7] | ||||||||||||||||
|
EXTREME INTERNATIONAL, INC. [Member] | Investment Type 2 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 39,359.18 shares Series C Convertible Preferred Stock, convertible into 157,437.72 shares of common stock at $25.00 per share (acquired 9-30-03) | [1],[2],[6] | 39,359.18 shares Series C Convertible Preferred Stock, convertible into 157,437.72 shares of common stock at $25.00 per share (acquired 9-30-03) | [1],[2],[6] | ||||||||||||||||
| Cost | 2,625,000 | [1],[2] | 2,625,000 | [1],[2] | ||||||||||||||||
| Value | 8,626,000 | [1],[2],[7] | 9,850,000 | [1],[2],[7] | ||||||||||||||||
|
EXTREME INTERNATIONAL, INC. [Member] | Investment Type 3 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 3,750 shares 8% Series A Convertible Preferred Stock, convertible into 15,000 shares of common stock at $25.00 per share (acquired 9-30-03) | [1],[2],[6] | 3,750 shares 8% Series A Convertible Preferred Stock, convertible into 15,000 shares of common stock at $25.00 per share (acquired 9-30-03) | [1],[2],[6] | ||||||||||||||||
| Cost | 375,000 | [1],[2] | 375,000 | [1],[2] | ||||||||||||||||
| Value | 822,000 | [1],[2],[7] | 938,000 | [1],[2],[7] | ||||||||||||||||
|
HEELYS, INC. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 31.10% | [1],[2],[3],[5],[8] | 31.60% | [1],[2],[3],[5],[8] | ||||||||||||||||
| Investment | ‡9,317,310 shares common stock (acquired 5-26-00) | [1],[2],[3],[6],[8] | 9,317,310 shares common stock (acquired 5-26-00) | [1],[2],[3],[6],[8] | ||||||||||||||||
| Cost | 102,490 | [1],[2],[3],[8] | 102,490 | [1],[2],[3],[8] | ||||||||||||||||
| Value | 20,498,082 | [1],[2],[3],[7],[8] | 19,193,659 | [1],[2],[3],[7],[8] | ||||||||||||||||
|
HOLOGIC, INC. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 1.00% | [1],[2],[5],[8] | 1.00% | [1],[2],[5],[8] | ||||||||||||||||
| Investment | ‡632,820 shares common stock (acquired 8-27-99) | [1],[2],[6],[8] | ‡632,820 shares common stock (acquired 8-27-99) | [1],[2],[6],[8] | ||||||||||||||||
| Cost | 220,000 | [1],[2],[8] | 220,000 | [1],[2],[8] | ||||||||||||||||
| Value | 13,637,271 | [1],[2],[7],[8] | 14,042,276 | [1],[2],[7],[8] | ||||||||||||||||
|
iMEMORIES, INC. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 25.30% | [1],[2],[5] | 27.20% | [1],[2],[5] | ||||||||||||||||
| Cost | 5,078,479 | [1],[2] | 5,000,000 | [1],[2] | ||||||||||||||||
| Value | 5,078,479 | [1],[2],[7] | 5,000,000 | [1],[2],[7] | ||||||||||||||||
|
iMEMORIES, INC. [Member] | Investment Type 1 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 17,391,304 shares Series B Convertible Preferred Stock, convertible into 19,891,304 shares of common stock at $0.23 per share (acquired 7-10-09) | [1],[2],[6] | 10% convertible promissory note, due 2012 (acquired 9-13-10) | [1],[2],[6] | ||||||||||||||||
| Cost | 4,000,000 | [1],[2] | 1,000,000 | [1],[2] | ||||||||||||||||
| Value | 4,000,000 | [1],[2],[7] | 1,000,000 | [1],[2],[7] | ||||||||||||||||
|
iMEMORIES, INC. [Member] | Investment Type 2 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 4,684,967 shares Series C Convertible Preferred Stock, convertible into 4,684,967 shares of common stock at $0.23 per share (acquired 7-20-11) | [1],[2],[6] | 17,391,304 shares Series B Convertible Preferred Stock, convertible into 17,391,304 shares of common stock at $0.23 per share (acquired 7-10-09) | [1],[2],[6] | ||||||||||||||||
| Cost | 1,078,479 | [1],[2] | 4,000,000 | [1],[2] | ||||||||||||||||
| Value | 1,078,479 | [1],[2],[7] | 4,000,000 | [1],[2],[7] | ||||||||||||||||
|
iMEMORIES, INC. [Member] | Investment Type 3 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | Warrants to purchase 2,500,000 shares of common stock at $0.12 per share, expiring 2020 (acquired 9-13-10 thru 1-21-11) | [1],[2],[6] | Warrant to purchase 968,750 shares of common stock at $0.12 per share, expiring 2020 (acquired 9-13-10) | [1],[2],[6] | ||||||||||||||||
| Cost | 0 | [1],[2] | 0 | [1],[2] | ||||||||||||||||
| Value | 0 | [1],[2],[7] | 0 | [1],[2],[7] | ||||||||||||||||
|
INSTAWARES HOLDING COMPANY, LLC [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Description of company | Provides services to the restaurant industry via its five subsidiary companies. | [1],[2] | ||||||||||||||||||
| Equity (in hundredths) | 4.50% | [1],[2],[5] | ||||||||||||||||||
| Investment | 3,846,154 Class D shares (acquired 5-20-11) | [1],[2],[6] | ||||||||||||||||||
| Cost | 5,000,000 | [1],[2] | ||||||||||||||||||
| Value | 5,000,000 | [1],[2],[7] | ||||||||||||||||||
|
KBI BIOPHARMA, INC. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 17.10% | [1],[2],[5] | 17.10% | [1],[2],[5] | ||||||||||||||||
| Investment | 7,142,857 shares Series B-2 Convertible Preferred Stock, convertible into 10,204,082 shares of common stock at $0.49 per share (acquired 9-08-09) | [1],[2],[6] | 7,142,857 shares Series B-2 Convertible Preferred Stock, convertible into 10,204,082 shares of common stock at $0.49 per share (acquired 9-08-09) | [1],[2],[6] | ||||||||||||||||
| Cost | 5,000,000 | [1],[2] | 5,000,000 | [1],[2] | ||||||||||||||||
| Value | 3,200,000 | [1],[2],[7] | 4,200,000 | [1],[2],[7] | ||||||||||||||||
|
MEDIA RECOVERY, INC. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 97.90% | [1],[2],[5] | 97.50% | [1],[2],[5] | ||||||||||||||||
| Cost | 5,415,000 | [1],[2],[3] | 5,415,000 | [1],[2],[3] | ||||||||||||||||
| Value | 18,700,000 | [1],[2],[3],[7] | 18,100,000 | [1],[2],[3],[7] | ||||||||||||||||
|
MEDIA RECOVERY, INC. [Member] | Investment Type 1 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 800,000 shares Series A Convertible Preferred Stock, convertible into 800,000 shares of common stock at $1.00 per share (acquired 11-4-97) | [1],[2],[6] | 800,000 shares Series A Convertible Preferred Stock, convertible into 800,000 shares of common stock at $1.00 per share (acquired 11-4-97) | [1],[2],[6] | ||||||||||||||||
| Cost | 800,000 | [1],[2] | 800,000 | [1],[2] | ||||||||||||||||
| Value | 3,100,000 | [1],[2],[7] | 3,000,000 | [1],[2],[7] | ||||||||||||||||
|
MEDIA RECOVERY, INC. [Member] | Investment Type 2 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 4,000,002 shares common stock (acquired 11-4-97) | [1],[2],[3],[6] | 4,000,002 shares common stock (acquired 11-4-97) | [1],[2],[3],[6] | ||||||||||||||||
| Cost | 4,615,000 | [1],[2],[3] | 4,615,000 | [1],[2],[3] | ||||||||||||||||
| Value | 15,600,000 | [1],[2],[3],[7] | 15,100,000 | [1],[2],[3],[7] | ||||||||||||||||
|
PALLETONE, INC. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 7.70% | [1],[2],[5] | 8.40% | [1],[2],[5] | ||||||||||||||||
| Cost | 1,703,150 | [1],[2],[4] | 1,748,896 | [1],[2],[4] | ||||||||||||||||
| Value | 2,000,002 | [1],[2],[4],[7] | 1,600,002 | [1],[2],[4],[7] | ||||||||||||||||
|
PALLETONE, INC. [Member] | Investment Type 1 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 12.3% senior subordinated notes, $2,000,000 principal due 2015 (acquired 9-25-06) | [1],[2],[6] | 12.3% senior subordinated notes, $2,000,000 principal due 2015 (acquired 9-25-06) | [1],[2],[6] | ||||||||||||||||
| Cost | 1,553,150 | [1],[2] | 1,553,150 | [1],[2] | ||||||||||||||||
| Value | 2,000,000 | [1],[2],[4],[7] | 1,600,000 | [1],[2],[7] | ||||||||||||||||
|
PALLETONE, INC. [Member] | Investment Type 2 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 150,000 shares common stock (acquired 10-18-01) | [1],[2],[4],[6] | 150,000 shares common stock (acquired 10-18-01) | [1],[2],[6] | ||||||||||||||||
| Cost | 150,000 | [1],[2],[4] | 150,000 | [1],[2] | ||||||||||||||||
| Value | 2 | [1],[2],[4],[7] | 2 | [1],[2],[7] | ||||||||||||||||
|
PALLETONE, INC. [Member] | Investment Type 3 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | Warrant to purchase 15,294 shares of common stock at $1.00 per share, expiring 2011 (acquired 2-17-06) | [1],[2],[6] | ||||||||||||||||||
| Cost | 45,746 | [1],[2] | ||||||||||||||||||
| Value | 0 | [1],[2],[7] | ||||||||||||||||||
|
THE RECTORSEAL CORPORATION [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 100.00% | [1],[2],[3],[5] | 100.00% | [1],[2],[3],[5] | ||||||||||||||||
| Investment | 27,907 shares common stock (acquired 1-5-73 and 3-31-73) | [1],[2],[3],[6] | 27,907 shares common stock (acquired 1-5-73 and 3-31-73) | [1],[2],[3],[6] | ||||||||||||||||
| Cost | 52,600 | [1],[2],[3] | 52,600 | [1],[2],[3] | ||||||||||||||||
| Value | 166,300,000 | [1],[2],[3],[7] | 144,700,000 | [1],[2],[3],[7] | ||||||||||||||||
|
TCI HOLDINGS, INC. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 0.00% | [1],[2],[5] | 0.00% | [1],[2],[5] | ||||||||||||||||
| Investment | 21 shares 12% Series C Cumulative Compounding Preferred Stock (acquired 1-30-90) | [1],[2],[6] | 21 shares 12% Series C Cumulative Compounding Preferred Stock (acquired 1-30-90) | [1],[2],[6] | ||||||||||||||||
| Cost | 0 | [1],[2] | 0 | [1],[2] | ||||||||||||||||
| Value | 802,000 | [1],[2],[7] | 840,778 | [1],[2],[7] | ||||||||||||||||
|
TRAX HOLDINGS, INC. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 29.40% | [1],[2],[5] | 30.70% | [1],[2],[5] | ||||||||||||||||
| Investment | 1,061,279 shares Series A Convertible Preferred Stock, convertible into 1,077,203 common stock at $4.64 per share (acquired 12-8-08 and 2-17-09) | [1],[2],[6] | ||||||||||||||||||
| Cost | 8,200,000 | [1],[2] | 5,000,000 | [1],[2] | ||||||||||||||||
| Value | 9,800,000 | [1],[2],[7] | 5,758,030 | [1],[2],[7] | ||||||||||||||||
|
TRAX HOLDINGS, INC. [Member] | Investment Type 1 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 18% convertible promissory note, $3,200,000 principal due 2012 (acquired 4-6-11 thru 11-10-11) | [1],[2],[6] | ||||||||||||||||||
| Cost | 3,200,000 | [1],[2] | ||||||||||||||||||
| Value | 3,200,000 | [1],[2],[7] | ||||||||||||||||||
|
TRAX HOLDINGS, INC. [Member] | Investment Type 2 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 1,061,279 shares Series A Convertible Preferred Stock, convertible into 1,061,279 common stock at $4.64 per share (acquired 12-8-08 and 2-17-09) | [1],[2],[6] | ||||||||||||||||||
| Cost | 5,000,000 | [1],[2] | ||||||||||||||||||
| Value | 6,600,000 | [1],[2],[7] | ||||||||||||||||||
|
VIA HOLDINGS, INC. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 3.20% | [1],[2],[5] | 28.10% | [1],[2],[5] | ||||||||||||||||
| Investment | 12,686 shares common stock (acquired 3-4-11 and 3-25-11) | [1],[2],[6] | 12,686 shares common stock (acquired 3-4-11 and 3-25-11) | [1],[2],[6] | ||||||||||||||||
| Cost | 4,926,290 | [1],[2] | 4,926,290 | [1],[2] | ||||||||||||||||
| Value | 2 | [1],[2],[7] | 4 | [1],[2],[7] | ||||||||||||||||
|
WELLOGIX, INC. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 19.10% | [1],[2],[4],[5] | 19.20% | [1],[2],[4],[5] | ||||||||||||||||
| Investment | 4,788,371 shares Series A-1 Convertible Participating Preferred Stock, convertible into 4,788,371 shares of common stock at $1.0441 per share (acquired 8-19-05 thru 6-15-08) | [1],[2],[4],[6] | 4,788,371 shares Series A-1 Convertible Participating Preferred Stock, convertible into 4,788,371 shares of common stock at $1.0441 per share (acquired 8-19-05 thru 6-15-08) | [1],[2],[4],[6] | ||||||||||||||||
| Cost | 5,000,000 | [1],[2],[4] | 5,000,000 | [1],[2],[4] | ||||||||||||||||
| Value | 25,000 | [1],[2],[4],[7] | 2 | [1],[2],[4],[7] | ||||||||||||||||
|
THE WHITMORE MANUFACTURING COMPANY [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 80.00% | [1],[2],[3],[5] | 80.00% | [1],[2],[3],[5] | ||||||||||||||||
| Investment | 80 shares common stock (acquired 8-31-79) | [1],[2],[3],[6] | 80 shares common stock (acquired 8-31-79) | [1],[2],[3],[6] | ||||||||||||||||
| Cost | 1,600,000 | [1],[2],[3] | 1,600,000 | [1],[2],[3] | ||||||||||||||||
| Value | 67,200,000 | [1],[2],[3],[7] | 55,600,000 | [1],[2],[3],[7] | ||||||||||||||||
|
ALL COMPONENTS, INC. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 80.40% | [1],[2],[5] | ||||||||||||||||||
| Cost | 2,150,000 | [1],[2] | ||||||||||||||||||
| Value | 13,499,940 | [1],[2],[7] | ||||||||||||||||||
|
ALL COMPONENTS, INC. [Member] | Investment Type 1 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 8.25% subordinate note, $2,000,000 principal due 2012 (acquired 6-27-07) | [1],[2],[6] | ||||||||||||||||||
| Cost | 2,000,000 | [1],[2] | ||||||||||||||||||
| Value | 2,000,000 | [1],[2],[7] | ||||||||||||||||||
|
ALL COMPONENTS, INC. [Member] | Investment Type 2 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 150,000 shares Series A Convertible Preferred Stock; convertible into 600,000 shares of common stock at $0.25 per share (acquired 9-16-94) | [1],[2],[6] | ||||||||||||||||||
| Cost | 150,000 | [1],[2] | ||||||||||||||||||
| Value | 8,431,388 | [1],[2],[7] | ||||||||||||||||||
|
ALL COMPONENTS, INC. [Member] | Investment Type 3 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | Warrant to purchase 350,000 shares of common stock at $11.00 per share, expiring 2017 (acquired 6-27-07) | [1],[2],[6] | ||||||||||||||||||
| Cost | 0 | [1],[2] | ||||||||||||||||||
| Value | 3,068,552 | [1],[2],[7] | ||||||||||||||||||
|
PALM HARBOR HOMES, INC. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 30.40% | [1],[2],[3],[5],[8] | ||||||||||||||||||
| Cost | 10,931,955 | [1],[2],[3],[8] | ||||||||||||||||||
| Value | 2 | [1],[2],[3],[7],[8] | ||||||||||||||||||
|
PALM HARBOR HOMES, INC. [Member] | Investment Type 1 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 7,855,121 shares common stock (acquired 1-3-85 thru 7-31-95) | [1],[2],[3],[6],[8] | ||||||||||||||||||
| Cost | 10,931,955 | [1],[2],[3],[8] | ||||||||||||||||||
| Value | 2 | [1],[2],[3],[7],[8] | ||||||||||||||||||
|
PALM HARBOR HOMES, INC. [Member] | Investment Type 2 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | Warrant to purchase 286,625 shares of common stock at $3.14 per share, expiring 2019 (acquired 4-24-09) | [1],[2],[3],[6],[8] | ||||||||||||||||||
| Cost | 0 | [1],[2],[3],[8] | ||||||||||||||||||
| Value | 0 | [1],[2],[3],[7],[8] | ||||||||||||||||||
|
PHI HEALTH, INC. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 67.00% | [1],[2],[5] | ||||||||||||||||||
| Cost | 5,752,339 | [1],[2] | ||||||||||||||||||
| Value | 5,752,339 | [1],[2],[7] | ||||||||||||||||||
|
PHI HEALTH, INC. [Member] | Investment Type 1 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 1,559,111 shares Series A-1 Convertible Preferred Stock convertible into 1,559,111 shares of common stock at $0.0015 per share (acquired 1-27-11) | [1],[2],[6] | ||||||||||||||||||
| Cost | 2,339 | [1],[2] | ||||||||||||||||||
| Value | 2,339 | [1],[2],[7] | ||||||||||||||||||
|
PHI HEALTH, INC. [Member] | Investment Type 2 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 555,556 shares Series B-1 Convertible Preferred Stock convertible into 555,556 shares common stock at $2.25 per share (acquired 1-27-11) | [1],[2],[6] | ||||||||||||||||||
| Cost | 1,250,000 | [1],[2] | ||||||||||||||||||
| Value | 1,250,000 | [1],[2],[7] | ||||||||||||||||||
|
PHI HEALTH, INC. [Member] | Investment Type 3 [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Investment | 4,500,000 Shares Series C-1 Convertible Preferred Stock convertible into 4,500,000 shares common stock at $0.20 per share (acquired 1-7-11 and 1-27-11) | [1],[2],[6] | ||||||||||||||||||
| Cost | 4,500,000 | [1],[2] | ||||||||||||||||||
| Value | 4,500,000 | [1],[2],[7] | ||||||||||||||||||
|
TEXAS CAPITAL BANCSHARES, INC. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 1.60% | [1],[2],[5],[8] | ||||||||||||||||||
| Investment | ‡489,656 shares common stock (acquired 5-1-00) | [1],[2],[6],[8] | ||||||||||||||||||
| Cost | 3,550,006 | [1],[2],[8] | ||||||||||||||||||
| Value | 12,711,470 | [1],[2],[7],[8] | ||||||||||||||||||
|
Ballast Point Ventures II, L.P. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 0.00% | [1],[2],[5] | 0.00% | [1],[2],[5] | ||||||||||||||||
| Investment | Ballast Point Ventures II, L.P. 2.2% limited partnership interest (acquired 8-4-08 thru 6-18-10) | [1],[2],[6] | Ballast Point Ventures II, L.P. 2.2% limited partnership interest (acquired 8-4-08 thru 6-18-10) | [1],[2],[6] | ||||||||||||||||
| Cost | 1,725,000 | [1],[2] | 1,200,000 | [1],[2] | ||||||||||||||||
| Value | 1,551,000 | [1],[2],[7] | 1,200,000 | [1],[2],[7] | ||||||||||||||||
|
BankCap Partners Fund I, L.P. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 0.00% | [1],[2],[5] | 0.00% | [1],[2],[5] | ||||||||||||||||
| Investment | BankCap Partners Fund I, L.P. 5.5% limited partnership interest (acquired 7-14-06 thru 11-30-11) | [1],[2],[6] | BankCap Partners Fund I, L.P. 5.5% limited partnership interest (acquired 7-14-06 thru 12-13-10) | [1],[2],[6] | ||||||||||||||||
| Cost | 5,808,470 | [1],[2] | 5,762,270 | [1],[2] | ||||||||||||||||
| Value | 5,012,000 | [1],[2],[7] | 5,101,727 | [1],[2],[7] | ||||||||||||||||
|
CapitalSouth Partners Fund III, L.P. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 0.00% | [1],[2],[5] | 0.00% | [1],[2],[5] | ||||||||||||||||
| Investment | CapitalSouth Partners Fund III, L.P. 1.9% limited partnership interest (acquired 1-22-08 and 11-16-11) | [1],[2],[6] | CapitalSouth Partners Fund III, L.P. 1.9% limited partnership interest (acquired 1-22-08 and 2-12-09) | [1],[2],[6] | ||||||||||||||||
| Cost | 1,331,256 | [1],[2] | 831,256 | [1],[2] | ||||||||||||||||
| Value | 1,438,000 | [1],[2],[7] | 790,000 | [1],[2],[7] | ||||||||||||||||
|
CapStar Holdings Corporation [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 100.00% | [1],[2],[3],[5] | 100.00% | [1],[2],[3],[5] | ||||||||||||||||
| Investment | ¥CapStar Holdings Corporation 500 shares common stock (acquired 6-10-10) | [1],[2],[3],[6] | ¥CapStar Holdings Corporation 500 shares common stock (acquired 6-10-10) | [1],[2],[3],[6] | ||||||||||||||||
| Cost | 3,703,619 | [1],[2],[3] | 3,703,619 | [1],[2],[3] | ||||||||||||||||
| Value | 5,338,000 | [1],[2],[3],[7] | 4,380,481 | [1],[2],[3],[7] | ||||||||||||||||
|
Diamond State Ventures, L.P. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 0.00% | [1],[2],[5] | 0.00% | [1],[2],[5] | ||||||||||||||||
| Investment | Diamond State Ventures, L.P. 1.4% limited partnership interest (acquired 10-12-99 thru 8-26-05) | [1],[2],[6] | Diamond State Ventures, L.P. 1.4% limited partnership Interest (acquired 10-12-99 thru 8-26-05) | [1],[2],[6] | ||||||||||||||||
| Cost | 76,000 | [1],[2] | 76,000 | [1],[2] | ||||||||||||||||
| Value | 184,000 | [1],[2],[7] | 177,996 | [1],[2],[7] | ||||||||||||||||
|
Discovery Alliance, LLC [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 0.00% | [1],[2],[3],[5] | 0.00% | [1],[2],[3],[5] | ||||||||||||||||
| Investment | ¥Discovery Alliance, LLC 90.0% limited liability company (acquired 9-12-08 thru 10-20-11) | [1],[2],[3],[6] | ¥Discovery Alliance, LLC 90.0% limited liability company (acquired 9-12-08 thru 5-14-10) | [1],[2],[3],[6] | ||||||||||||||||
| Cost | 1,180,000 | [1],[2],[3] | 900,000 | [1],[2],[3] | ||||||||||||||||
| Value | 1,280,000 | [1],[2],[3],[7] | 574,488 | [1],[2],[3],[7] | ||||||||||||||||
|
Essex Capital Corporation [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 0.00% | [1],[2],[5] | ||||||||||||||||||
| Investment | Essex Capital Corporation 10% unsecured promissory note due 8-19-10 (acquired 8-16-09) | [1],[2],[6] | ||||||||||||||||||
| Cost | 0 | [1],[2] | ||||||||||||||||||
| Value | 1,000,000 | [1],[2],[7] | ||||||||||||||||||
|
First Capital Group of Texas III, L.P. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 0.00% | [1],[2],[5] | 0.00% | [1],[2],[5] | ||||||||||||||||
| Investment | First Capital Group of Texas III, L.P. 3.0% limited partnership interest (acquired 12-26-00 thru 8-12-05) | [1],[2],[6] | First Capital Group of Texas III, L.P. 3.0% limited partnership interest (acquired 12-26-00 thru 8-12-05) | [1],[2],[6] | ||||||||||||||||
| Cost | 778,895 | [1],[2] | 778,894 | [1],[2] | ||||||||||||||||
| Value | 662,000 | [1],[2],[7] | 407,731 | [1],[2],[7] | ||||||||||||||||
|
Humac Company [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 100.00% | [1],[2],[3],[5] | 100.00% | [1],[2],[5] | ||||||||||||||||
| Investment | ¥Humac Company 1,041,000 shares common stock (acquired 1-31-75 and 12-31-75) | [1],[2],[3],[6] | ¥Humac Company 1,041,000 shares common stock (acquired 1-31-75 and 12-31-75) | [1],[2],[6] | ||||||||||||||||
| Cost | 0 | [1],[2],[3] | 0 | [1],[2] | ||||||||||||||||
| Value | 159,000 | [1],[2],[3],[7] | 166,000 | [1],[2],[7] | ||||||||||||||||
|
STARTech Seed Fund I [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 0.00% | [1],[2],[5] | 0.00% | [1],[2],[5] | ||||||||||||||||
| Investment | STARTech Seed Fund I 12.1% limited partnership interest (acquired 4-17-98 thru 1-5-00) | [1],[2],[6] | STARTech Seed Fund I 12.1% limited partnership interest (acquired 4-17-98 thru 1-5-00) | [1],[2],[6] | ||||||||||||||||
| Cost | 178,066 | [1],[2] | 178,066 | [1],[2] | ||||||||||||||||
| Value | 39,000 | [1],[2],[7] | 52,606 | [1],[2],[7] | ||||||||||||||||
|
STARTech Seed Fund II [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 0.00% | [1],[2],[5] | 0.00% | [1],[2],[5] | ||||||||||||||||
| Investment | STARTech Seed Fund II 3.2% limited partnership interest (acquired 4-28-00 thru 2-23-05) | [1],[2],[6] | STARTech Seed Fund II 3.2% limited partnership interest (acquired 4-28-00 thru 2-23-05) | [1],[2],[6] | ||||||||||||||||
| Cost | 843,891 | [1],[2] | 843,891 | [1],[2] | ||||||||||||||||
| Value | 371,000 | [1],[2],[7] | 317,392 | [1],[2],[7] | ||||||||||||||||
|
Sterling Group Partners I, L.P. [Member]
|
||||||||||||||||||||
| Schedule of Investments [Line Items] | ||||||||||||||||||||
| Equity (in hundredths) | 0.00% | [1],[2],[5] | 0.00% | [1],[2],[5] | ||||||||||||||||
| Investment | Sterling Group Partners I, L.P. 1.7% limited partnership interest (acquired 4-20-01 thru 1-24-05) | [1],[2],[6] | Sterling Group Partners I, L.P. 1.6% limited partnership interest (acquired 4-20-01 thru 1-24-05) | [1],[2],[6] | ||||||||||||||||
| Cost | 1,064,042 | [1],[2] | 1,064,042 | [1],[2] | ||||||||||||||||
| Value | $ 511,000 | [1],[2],[7] | $ 919,417 | [1],[2],[7] | ||||||||||||||||
|
||||||||||||||||||||
| X | ||||||||||
|
- Definition
The description of the investment owned by the Company. No definition available.
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| X | ||||||||||
|
- Definition
Cost of the investment. No definition available.
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| X | ||||||||||
|
- Definition
Value of the investment at close of period. For schedules of investments that are categorized, the value would be aggregated by category. For investment in and advances to affiliates, if operations of any controlled companies are different in character from those of the company, group such affiliates within divisions and by type of activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Further narrative for the holding of the investment. Also any additional footnotes related to the position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Percent of net assets at close of period. For schedules of investments that are categorized, each category has a percent of net assets for the aggregated value of the Investments in the category. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
ORGANIZATION AND BASIS OF PRESENTATION
|
12 Months Ended | ||
|---|---|---|---|
|
Mar. 31, 2012
|
|||
| ORGANIZATION AND BASIS OF PRESENTATION [Abstract] | |||
| ORGANIZATION AND BASIS OF PRESENTATION |
Organization Capital Southwest Corporation ("CSC") was organized as a Texas corporation on April 19, 1961. Until September 1969, CSC operated as a licensee under the Small Business Investment Act of 1958. At that time, we transferred to our wholly-owned subsidiary, Capital Southwest Venture Corporation ("CSVC") certain assets and our license as a small business investment company ("SBIC"). CSVC is a closed-end, non-diversified investment company of the management type registered under the Investment Company Act of 1940 (the "1940 Act"). Prior to March 30, 1988, CSC was registered as a closed-end, non-diversified investment company under the 1940 Act. On that date, CSC elected to become a Business Development Company ("BDC") subject to the provisions of the 1940 Act, as amended by the Small Business Incentive Act of 1980. Because CSC wholly own CSVC, the portfolios of both CSC and CSVC are referred to collectively as "our," "we" and "us." Capital Southwest Management Company ("CSMC"), a wholly-owned subsidiary of CSC, is the management company for CSC and CSVC. CSMC generally incurs all normal operating and administrative expenses, including, but not limited to, salaries and related benefits, rent, equipment and other administrative costs required for its day-to-day operations. Our portfolio is a composite of companies, consisting of companies in which we have controlling interests, developing companies and marketable securities of established publicly traded companies. We make available significant managerial assistance to the companies in which we invest and believe that providing managerial assistance to such investee companies is critical to their business development activities. CSMC receives a monthly fixed fee for management services provided to certain of our control portfolio companies. Basis of Presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). Under rules and regulations applicable to investment companies, we are precluded from consolidating any entity other than another investment company. An exception to this general principle occurs if the investment company has an investment in an operating company that provides services to the investment company. Accordingly, consolidated financial statements include CSMC, our management company. Portfolio Investment Classification We classify our investments in accordance with the requirements of the 1940 Act. Under the 1940 Act, "Control Investments" are defined as investments in which we own more than 25% of the voting securities or have rights to maintain greater than 50% of the board representation; "Affiliated Investments" are defined as investments in which we own between 5% and 25% of the voting securities; and "Non-Control/Non-Affiliated Investments" are defined as investments that are neither "Control Investments" nor "Affiliated Investments." |
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The entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). No definition available.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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Mar. 31, 2012
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| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | |||
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
The following is a summary of significant accounting policies followed in the preparation of the consolidated financial statements of CSC, CSVC and CSMC. Fair Value Measurements We adopted FASB ASC Topic 820 on April 1, 2008. ASC Topic 820 (1) creates a single definition of fair value, (2) establishes a framework for measuring fair value, and (3) expands disclosure requirements about items measured at fair value. The Statement applies to both items recognized and reported at fair value in the financial statements and items disclosed at fair value in the notes to the financial statements. The Statement does not change existing accounting rules governing what can or what must be recognized and reported at fair value in our financial statements, or disclosed at fair value in our notes to financial statements. Additionally, ASC Topic 820 does not eliminate practicability exceptions that exist in accounting pronouncements amended by this Statement when measuring fair value. Fair value is generally determined based on quoted market prices in the active markets for identical assets or liabilities. If quoted market prices are not available, we use valuation techniques that place greater reliance on observable inputs and less reliance on unobservable inputs. Due to the inherent uncertainty in the valuation process, our estimate of fair value may differ materially from the values that would have been used had a ready market for the securities existed. In addition, changes in the market environment, portfolio company performance and other events may occur over the lives of the investments that may cause the gains or losses ultimately realized on these investments to be materially different than the valuations currently assigned. We determine the fair value of each individual investment and record changes in fair value as unrealized appreciation or depreciation. Pursuant to our internal valuation process, each portfolio company is valued once a quarter. In addition to our internal valuation process, our Board of Directors retains a nationally recognized firm to provide limited scope third party valuation services on certain portfolio investments. Our Board of Directors retained Duff & Phelps to provide limited scope third party valuation services on six investments comprising 76.2% of our net asset value at March 31, 2012. For full disclosure of Duff & Phelps' services, see page 5 of this Annual Report on Form 10-K under the heading "Determination of Net Asset Value and Portfolio Valuation Process." We believe our investments at March 31, 2012 and March 31, 2011 approximate fair value as of those dates based on the market in which we operate and other conditions in existence at those reporting periods. Investments Investments are stated at fair value determined by our Board of Directors as described in Notes to the Consolidated Schedule of Investments and Note 3 below. The average cost method is used in determining cost of investments sold. Investments are recorded on a trade date basis. Cash and Cash Equivalents Cash and cash equivalents consist of highly liquid investments with an original maturity of three months or less at the date of purchase. Cash and cash equivalents are carried at cost, which approximates fair value. Segment Information We operate and manage our business in a singular segment. As an investment company, we invest in portfolio companies in various industries and geographic areas as presented in the Consolidated Schedule of Investments. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Interest and Dividend Income Interest and dividend income is recorded on an accrual basis to the extent amounts are expected to be collected. Dividend income is recorded at the ex-dividend date for marketable securities and restricted securities. In accordance with our valuation policy, accrued interest and dividend income is evaluated periodically for collectability. When a debt or loan becomes 90 days or more past due, and if we otherwise do not expect the debtor to be able to service all of its debt or other obligations, we will generally establish a reserve against the interest income, thereby placing the loan or debt security's status on non-accrual basis, and cease to recognize interest income on that loan or debt security until the borrower has demonstrated the ability and intent to pay contractual amounts due. If a loan or debt security's status significantly improves regarding ability to service debt or other obligations, it will be restored to accrual basis. Federal Income Taxes CSC and CSVC have elected and intend to comply with the requirements of the Internal Revenue Code (IRC) necessary to qualify as regulated investment companies (RICs). By meeting these requirements, they will not be subject to corporate federal income taxes on ordinary income distributed to shareholders. In order to comply as a RIC, each company is required to timely distribute to its shareholders at least 90% of investment taxable income, as defined by the IRC, each year. Taxable income generally differs from net income for financial reporting purposes due to temporary and permanent differences in the recognition of income and expenses. Taxable income generally excludes net unrealized appreciation or depreciation, as investment gains and losses are not included in taxable income until they are realized. Our policy is to retain and pay the 35% corporate tax on realized long-term capital gains. As an investment company that qualifies as RICs under the IRC, federal income taxes payable on security gains that we elect to retain are accrued only on the last day of our tax year, December 31. See Note 4 for further discussion. CSMC, a wholly owned subsidiary of CSC, is not a RIC and is required to pay taxes at the current corporate rate. We account for interest and penalties as part of operating expenses. There were no interest or penalties incurred during the years ended March 31, 2012, 2011 and 2010. Deferred Taxes CSMC sponsors a qualified defined benefit pension plan which covers its employees and employees of certain of its controlled affiliates. Deferred taxes related to the qualified defined benefit pension plan are recorded as incurred. Stock-Based Compensation We account for our stock-based compensation using the fair value method, as prescribed by ASC 718, Compensation - Stock Compensation. Accordingly, we recognize stock-based compensation cost over the straight-line method for all share-based payments granted on or after that date and for all awards granted to employees prior to April 1, 2006 that remain unvested on that date. The fair value of stock options are determined on the date of grant using the Black-Scholes pricing model and are expensed over the vesting period of the related stock options. For restricted stock awards, we measured the grant date fair value based upon the market price of our common stock on the date of the grant and will amortize this fair value to shared-based compensation expense over the vesting term. See Note 6 for further discussion. Defined Pension Benefits and Other Postretirement Plans We record annual amounts relating to the defined benefit pension plan based on calculations, which include various actuarial assumptions such as discount rates and assumed rates of return depending on the pension plan. Material changes in pension costs may occur in the future due to changes in the discount rate, changes in the expected long-term rate of return, changes in level of contributions to the plans and other factors. The funded status is the difference between the fair value of plan assets and the benefit obligation. We recognize changes in the funded status of defined benefit plan in the Statement of Assets and Liabilities in the year in which the changes occur and measure defined benefit plan assets and obligations as of the date of the employer's fiscal year-end. We presently use March 31 as the measurement date for our defined benefit plan. Concentration of Risk We place our idle cash in financial institutions, and at times, such balances may be in excess of the federally insured limits. On November 19, 2010, the Federal Deposit Insurance Corporation ("FDIC") issued a Final Rule implementing section 343 of the Dodd-Frank Wall Street Reform and Consumer Protection Act that provides for unlimited insurance coverage of noninterest-bearing transaction accounts beginning December 31, 2010 through December 31, 2012. As of March 31, 2012 and 2011, the Company's money market account balances exceeded the Federal Deposit Insurance Corporation limits by $64.4 million and $45.3 million respectively. Recent Accounting Pronouncements In May 2011, the FASB issued Accounting Standards Update ("ASU") 2011-04, Fair Value Measurements (Topic 820), Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs ("ASU 2011-04"). ASU 2011-04 results in common fair value measurement and disclosure requirements in U.S. GAAP and IFRSs. ASU 2011-04 is effective for interim and annual reporting periods beginning after December 15, 2011. Adoption of ASU 2011-04 is not expected to have a significant impact on our financial condition and result of operations. |
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The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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INVESTMENTS
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| INVESTMENTS [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INVESTMENTS | 3. INVESTMENTS We record our investments at fair value as determined in good faith by our Board of Directors in accordance with GAAP. When available, we base the fair value of our investments on directly observable market prices or on market data derived for comparable assets. For all other investments, inputs used to measure fair value reflect management's best estimate of assumptions that would be used by market participants in pricing the investments in a hypothetical transaction. The levels of fair value inputs used to measure our investments are characterized in accordance with the fair value hierarchy established by the Accounting Standard Codification ("ASC"). We use judgment and consider factors specific to the investment in determining the significance of an input to a fair value measurement. While management believes our valuation methodologies are appropriate and consistent with market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. The three levels of the fair value hierarchy and investments that fall into each of the levels are described below:
As required by ASC 820, when the inputs used to measure a fair value fall within different levels of the hierarchy, the level within the fair value measurement is categorized based on the lowest level input that is significant to the fair value measurement which may include inputs that are observable (Levels 1 and 2) and unobservable (Level 3). Therefore, gains and losses for such investments categorized within the Level 3 table below may include changes in fair value that are attributable to both observable inputs (Levels 1 and 2) and unobservable (Level 3). We conduct reviews of fair value hierarchy classifications on a quarterly basis. Changes in the observability of valuation inputs may result in a reclassification of certain investments. In March 2012, Form S-3 registration statements of Alamo Group Inc. (NYSE: ALG), Encore Wire Corporation (NASDAQ: WIRE), and Heelys Inc. (NASDAQ: HLYS) were filed with the Securities and Exchange Commission, or SEC. Due to these recent registrations with the SEC, the common stock of Alamo Group Inc., Encore Wire Corporation, and Heelys Inc. was transferred from Level 3 to Level 1 under ASC 820. As a result of these registrations becoming effective with the SEC, restrictions in the sale of the common stock of these companies imposed by Rule 144 of the Securities Act were lifted and valuation discounts previously applied to these holdings were removed. Had the prior period discounts been applied to ALG, WIRE, HLYS, our resulting net asset value would have been $597,793,096, or $159.22 per share at March 31, 2012. This would have represented increases of 12.3% over the March 31, 2011 net asset values. As of March 31, 2012 and 2011, 56.9% and 94.5%, respectively, of our portfolio investments were categorized as Level 3. Fair value determination of each portfolio investment required one or more of the following unobservable inputs:
The following fair value hierarchy tables set forth our investment portfolio by level as of March 31, 2012 and March 31, 2011 (in millions):
Changes in Fair Value Levels We monitor the availability of observable market data to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in economic conditions or model based valuation techniques may require the transfer of financial instruments from one fair value to another. In March 2012, Form S-3 registration statements of Alamo Group, Inc. (NYSE: ALG), Encore Wire Corporation (NASDAQ: WIRE) and Heelys Inc. (NASDAQ: HLYS) were filed with the Securities and Exchange Commission ("SEC"). As a result of these registrations becoming effective, restrictions in the sale of common stock of these companies imposed by Rule 144 of the Securities Exchange Act of 1933 were lifted, and discounts on the common stocks of these entities were subsequently removed. Due to these recent registrations with the SEC, we transferred $227 million securities from Level 3 to Level 1 under the fair value hierarchy of ASC 820. The following table provides a summary of changes in the fair value of investments measured using Level 3 inputs during the years ended March 31, 2012 and 2011 (in millions):
The total unrealized gains included in earnings that related to assets still held at report date for the years ended March 31, 2012 and 2011 were $96,949,860 and $76,132,546, respectively. |
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The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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INCOME TAXES
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| INCOME TAXES [Abstract] | |||||
| INCOME TAXES | 4. INCOME TAXES We operate to qualify as a RIC under Subchapter M of the IRC. In order to qualify as a RIC, we must annually distribute at least 90% of our taxable ordinary income, based on our tax year, to our shareholders in a timely manner. Ordinary income includes net short-term capital gains but excludes net long-term capital gains. A RIC is not subject to federal income tax on the portion of its ordinary income and long-term capital gains that are distributed to its shareholders, including "deemed distributions" discussed below. As permitted by the Code, a RIC can designate dividends paid in the subsequent tax year as dividends of current year ordinary income and net long-term gains if those dividends are both declared by the extended due date of the RIC's federal income tax return and paid to shareholders by the last day of the subsequent tax year. We have a calendar tax year end of December 31. We have distributed or intend to distribute sufficient dividends to eliminate taxable income for our completed tax years. If we fail to satisfy the 90% distribution requirement or otherwise fail to qualify as a RIC in any tax year, we would be subject to tax in such year on all of our taxable income, regardless of whether we made any distributions to our shareholders. For the tax year ended December 31, 2011 and 2010, we declared and paid ordinary dividends in the amount of $3,003,030 and $2,993,623, respectively. Additionally, we are subject to a nondeductible federal excise tax of 4% if we do not distribute at least 98% of our investment company ordinary taxable income before the end of our tax year. For the tax years ended December 31, 2011 and 2010, we distributed 100% of our investment company ordinary taxable income. As a result, we have made no tax provisions for income taxes on ordinary taxable income for the tax years ended December 31, 2011 and 2010. A RIC may elect to retain its long-term capital gains by designating them as "deemed distribution" to its shareholders and paying a federal tax rate of 35% on the long-term capital gains for the benefit of its shareholders. Shareholders then report their share of the retained capital gains on their income tax returns as if it had been received and report a tax credit for tax paid on their behalf by the RIC. Shareholders then add the amount of the "deemed distribution" net of such tax, to the basis of their shares.
For the years ended March 31, 2012, 2011 and 2010, CSC and CSVC qualified to be taxed as RICs. We intend to meet the applicable qualifications to be taxed as a RIC in future years. Management feels it is probable that we will maintain our RIC status for a period longer than one year. However, either company's ability to meet certain portfolio diversification requirements of RICs in future years may not be controllable by such company. CSMC, a wholly owned subsidiary of CSC, is not a RIC and is required to pay taxes at the current corporate rate. CSMC sponsors a qualified defined benefit pension plan which covers its employees and employees of certain of its wholly owned portfolio companies. Deferred taxes related to the qualified defined pension plan are recorded as incurred. |
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The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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UNDISTRIBUTED NET REALIZED GAINS (LOSSES) ON INVESTMENTS
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| UNDISTRIBUTED NET REALIZED GAINS (LOSSES) ON INVESTMENTS | 5. UNDISTRIBUTED NET REALIZED GAINS (LOSSES) ON INVESTMENTS Distributions made by RICs often differ from aggregate GAAP-basis undistributed net investment income and accumulated net realized gains (total GAAP-basis net realized gains). The principal cause is that required minimum fund distributions are based on income and gain amounts determined in accordance with federal income tax regulations, rather than GAAP. The differences created can be temporary, meaning that they will reverse in the future, or they can be permanent. In subsequent periods, when all or a portion of a temporary difference becomes a permanent difference, the amount of the permanent difference will be reclassified to "additional capital." The following table sets forth a summary of our net realized gains on transactions by category:
As a result of our election to retain long-term capital gains, we incurred federal taxes on behalf of our shareholders in the amounts listed in the table above. As of March 31, 2012, we had undistributed long-term capital gains of $498,438. As of March 31, 2011 we had undistributed long-term capital losses of $6,863,347. |
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The entire disclosure for undistributed net realized gains (losses) on investments. No definition available.
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| EMPLOYEE STOCK BASED COMPENSATION PLANS [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EMPLOYEE STOCK BASED COMPENSATION PLANS | 6. EMPLOYEE STOCK BASED COMPENSATION PLANS Stock Options On July 20, 2009, shareholders approved our 2009 Stock Incentive Plan (the "2009 Plan"), which provides for the granting of stock options to employees and officers and authorizes the issuance of common stock upon exercise of such options for up to 140,000 shares. All options are granted at or above market price, generally expire up to ten years from the date of grant and are generally exercisable on or after the first anniversary of the date of grant in five annual installments. Options to purchase 38,750 shares at a price of $76.74 (market price at the time of the grant) were granted on October 19, 2009 and remain outstanding. Additionally, options to purchase 20,000 shares at a price of $95.79 (market price at time of the grant) were granted on March 22, 2010, options to purchase 15,000 shares at a price of $88.20 were granted on July 19, 2010 and options to purchase 10,000 shares at a price of $96.92 were granted on July 18, 2011. All 83,750 options remain outstanding, thus leaving 56,250 options available for grant under the 2009 plan. We previously granted stock options under its 1999 Stock Option Plan (the "1999 Plan"), as approved by shareholders on July 19, 1999. The 1999 Plan expired on April 19, 2009. Options previously made under our 1999 Stock Option Plan and outstanding on July 20, 2009 continue in effect governed by provisions of the 1999 Plan. All options granted under the 1999 Plan were granted at or above market price, generally expire up to ten years from the date of grant and are generally exercisable on or after the first anniversary of the date of grant in five to ten annual installments. We recognize compensation cost over the straight-line method for all share-based payments granted on or after that date and for all awards granted to employees prior to April 1, 2006 that remain unvested on that date. The fair value of stock options are determined on the date of grant using the Black-Scholes pricing model and are expensed over the vesting period of the related stock options. Share-based compensation cost for restricted stocks is measured based on the closing fair market value of our Company's common stock on the date of the grant. Accordingly, for the years ended March 31, 2012, 2011 and 2010, we recognized stock option compensation expense of $1,009,922, $957,168 and $675,210 respectively. As of March 31, 2012, the total remaining unrecognized compensation cost related to non-vested stock options was $2,113,807, which will be amortized over the weighted-average service period of approximately 2.5 years. The following table summarizes the 2009 Plan and the 1999 Plan price per option at grant date using the Black-Scholes pricing model:
The following table summarizes activity in the 2009 Plan and the 1999 Plan as of March 31, 2012:
At March 31, 2012, the range of exercise prices and weighted-average remaining contractual life of outstanding options was $76.74 to $152.98 and 2.5 years, respectively. The number of options exercisable under the 2009 Plan and the 1999 Plan, at March 31, 2012, was 87,590 with a weighted-average exercise price of $112.25. During the year ended March 31, 2012, 1,500 options were exercised with exercise price at $65.70 per share and 11,400 options were exercised with exercise prices ranging from $65.00 to $65.70 per share during the year ended March 31, 2011. New shares were issued for $98,550 and $745,200 cash received from options exercised during the year ended March 31, 2012 and the year ended March 31, 2011, respectively. There were no options exercised during the year ended March 31, 2010. At March 31, 2012, 2011 and 2010, the number of options exercisable was 87,590, 54,325 and 38,960, respectively, and the weighted average price of those options was $112.25, $115.57 and $107.94, respectively. Stock Awards On January 15, 2012, our Board of Directors approved the issuance of shares of restricted stock to certain key employees pursuant to the Capital Southwest Corporation 2010 Restricted Stock Award Plan. A restricted stock award is an award of shares of our common stock (which have full voting and dividend rights but are restricted with regard to sale or transfer), the restrictions over which lapse ratably over a specified period of time (generally five years). Restricted stock awards are independent of stock option grants and are subject to forfeit if employment terminates prior to these restrictions lapsing. These shares vest over a five-year period from the grant date and are expensed over the five-year service period starting on the grant date. The following table summarizes the restricted stock issuances approved by our Board of Directors and the remaining shares of restricted stock available for issuance as of March 31, 2012:
We expense the cost of the restricted stock awards, which is determined to equal the fair value of the restricted stock award at the date of the grant on a straight-line basis over the vesting period in which the restrictions on these stock awards lapse. For these purposes, the fair value of the restricted stock award is determined based on the closing price of our common stock on the date of grant. For the fiscal year ended March 31, 2012, we recognized total share based compensation expense of $40,377 related to the restricted stock issued to our employees and officers. For the fiscal years ended March 31, 2011 and 2010, no restricted stock was issued. As of March 31, 2012, the total remaining unrecognized compensation cost related to non-vested restricted stock awards was $766,403, which will be amortized over the weighted-average service period of approximately 4.8 years. The following table represents a summary of the activity for our restricted stock awards for the fiscal year ended March 31, 2012:
Phantom Stock Plan On January 16, 2012, our Board of Directors approved the issuance of Phantom stock options to certain key employees pursuant to the Capital Southwest Corporation Phantom Stock Option Plan. Under the plan, awards vest on the fifth anniversary of the award date. Upon exercise of the phantom option, a cash payment in an amount for each Phantom share equal to estimated fair market value minus the phantom option exercise price will be distributed to plan participants. On January 16, 2012, 26,000 shares of phantom stock options were issued to provide deferred compensation to certain key employees. The exercise price of each phantom share is $146.95 (Net Asset Value at December 31, 2011), and estimated fair market value of phantom stock awards is calculated based on our net asset value as of December 31 of each year. The following table represents a summary of the activity for our phantom stock plan for the fiscal year ended March 31, 2012:
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The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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EMPLOYEE STOCK OWNERSHIP PLAN
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12 Months Ended |
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Mar. 31, 2012
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| EMPLOYEE STOCK OWNERSHIP PLAN [Abstract] | |
| EMPLOYEE STOCK OWNERSHIP PLAN | 7. EMPLOYEE STOCK OWNERSHIP PLAN CSC and one of its controlled affiliates sponsor a qualified employee stock ownership plan ("ESOP") in which certain employees participate. Contributions to the plan, which are invested in our stock, are made at the discretion of our Board of Directors. A participant's interest in contributions to the ESOP fully vests after three years of active service. During the 3 years ended March 31, 2012, we made contributions to the ESOP, which were included in operating expenses, of $222,179 in 2012, $147,212 in 2011, and $144,436 in 2010. |
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RETIREMENT PLANS
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Mar. 31, 2012
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| RETIREMENT PLANS [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RETIREMENT PLANS |
CSC sponsors a qualified defined benefit pension plan which covers its employees and employees of certain of its controlled affiliates. The following information about the plan represents amounts and information related to CSC's participation in the plan and is presented as though CSC sponsored a single-employer plan. Benefits are based on years of service and an average of the highest five consecutive years of compensation during the last 10 years of employment. The funding policy of the plan is to contribute annual amounts that are currently deductible for tax reporting purposes. No contribution was made to the plan during the three years ended March 31, 2012. Additionally, CSC sponsors an unfunded Retirement Restoration Plan, which is a nonqualified plan that provides for the payment, upon retirement, of the difference between the maximum annual payment permissible under the qualified retirement plan pursuant to Federal limitations and the amount which would otherwise have been payable under the qualified plan. The following tables set forth the qualified plan's net pension benefit, benefit obligation, fair value of plan assets, and amounts recognized in our consolidated statements of operations at March 31, 2012, 2011 and 2010, as well as amounts recognized in our consolidated statements of assets and liabilities at March 31, 2012 and 2011:
The following tables set forth the retirement restoration plan's net pension benefit and benefit obligation amounts at March 31, 2012, 2011 and 2010, as well as amounts recognized in our consolidated statements of assets and liabilities at March 31, 2012, 2011:
The following assumptions were used in estimating the actuarial present value of the projected benefit obligations:
The following assumptions were used in estimating the net periodic (income)/expense:
Following are the expected benefit payments for the next five years and in the aggregate for the years 2018-2022:
The expected rate of return on assets assumption was determined based on the anticipated performance of the various asset classes in the plan's portfolio and the allocation of assets to each class. The anticipated asset class return is developed using historical and predicted asset return performance, considering the investments underlying each asset class and expected investment performance based on forecasts of inflation, interest rates and market indices for fixed income and equity securities. Plan Assets Our pension plan is administered by a board-appointed committee that has fiduciary responsibility for the plan's management. The trustee of the plan is JPMorgan Asset Management. Currently, approximately 18% of the assets are selected and managed by the trustee and the remainder of the assets is managed by the committee, invested mostly in equity securities, including our stock. The plan assets are invested using a total return approach whereby a mix of equity securities, debt securities and other investments are used to preserve asset values, diversify risk and achieve our targeted investment return benchmark. Investment performance and asset allocation are measured and monitored on an ongoing basis. Plan assets are managed in a balanced portfolio comprised of two major components: an equity portion and a fixed income portion. The expected role of plan equity investments is to maximize the long-term real growth of the plan's assets, while the role of fixed income investments is to generate current income, provide for more stable periodic returns and provide some protection against prolonged decline in the market value of the plan's equity investments. The current target allocations for plan assets are 60-80% equity, 15-40% for fixed income, and 0-15% for cash and cash equivalents. Equity investments include U.S. and foreign equities, as well as publicly traded and non-publicly traded mutual funds. Fixed income securities include long-duration government obligations, government agency obligations and corporate obligations. Our pension plan asset allocations are as follows:
Below is our pension plan asset for Capital Southwest Corporation and its affiliates, of which Capital Southwest assets were $12,485,876 and $11,610,994 as of March 31, 2012 and 2011 respectively. The following fair value hierarchy table sets forth our pension plan investment portfolio by level as of March 31, 2012 (in millions):
The following fair value hierarchy table sets forth our pension plan investment portfolio by level as of March 31, 2011 (in millions):
There were no plan assets valued using significant unobservable inputs (level 3) as of March 31, 2012 or 2011.
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COMMITMENTS
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12 Months Ended |
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Mar. 31, 2012
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| COMMITMENTS [Abstract] | |
| COMMITMENTS | 9. COMMITMENTS As of March 31,2012, we had agreed, subject to certain conditions, to invest up to $8,608,215 in eight portfolio companies. We lease office space under an operating lease which requires base annual rentals of approximately $133,000 through September 2014. For the three years ended March 31, 2012, total rental expense charged to investment income was $117,199 in 2012, $103,703 in 2011, and $92,075 in 2010. |
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SOURCES OF INCOME
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2012
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| SOURCES OF INCOME [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SOURCES OF INCOME | 10. SOURCES OF INCOME
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- Details
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- Definition
The entire disclosure for all sources of income, including all tables. No definition available.
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SELECTED QUARTERLY FINANCIAL DATA
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2012
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| SELECTED QUARTERLY FINANCIAL DATA [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SELECTED QUARTERLY FINANCIAL DATA | 11. SELECTED QUARTERLY FINANCIAL DATA The following presents a summary of the unaudited quarterly consolidated financial information for the years ended March 31, 2012 and 2011 (in thousands except per share amounts):
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- Details
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- Definition
The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SELECTED PER SHARE DATA AND RATIOS
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2012
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| SELECTED PER SHARE DATA AND RATIOS [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SELECTED PER SHARE DATA AND RATIOS | 12. SELECTED PER SHARE DATA AND RATIOS The following presents a summary of the selected per share data for the years ended March 31, 2008 through 2012 (in thousands except per share amounts):
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- Details
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| X | ||||||||||
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- Definition
The entire disclosure for all per share data and ratios. No definition available.
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SUBSEQUENT EVENTS
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12 Months Ended |
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Mar. 31, 2012
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| SUBSEQUENT EVENTS [Abstract] | |
| SUBSEQUENT EVENTS | 13. SUBSEQUENT EVENTS On May 14, 2012, Capital Southwest Venture Corporation, a wholly owned subsidiary of Capital Southwest Corporation, entered into a Share Repurchase Agreement with Encore Wire Corporation dated May 14, 2012 pursuant to which Encore Wire repurchased 2,774,250 shares of Encore Wire's common stock held by Capital Southwest Venture Corporation. Pursuant to terms of the Share Repurchase Agreement, the aggregate sale price was $66,637,485, based on a price of $24.02 per share. Capital Southwest Corporation continues to hold 1,312,500 shares of common stock in Encore Wire Corporation. Additionally, the Board of Directors of Capital Southwest Corporation declared a cash dividend in the amount of $17.59 per share of common stock. The dividend is payable on June 8, 2012 to shareholders of record on May 24, 2012. This dividend represents a distribution of the entire capital gain proceeds to its shareholders. |
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- Details
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| X | ||||||||||
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- Definition
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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Schedule of Investments in and Advances to Affiliates
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2012
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| Schedule of Investments in and Advances to Affiliates [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Investments in and Advances to Affiliates |
Schedule of Investments in and Advances to Affiliates (In thousands)
This schedule should be read in conjunction with our Consolidated Financial Statements, including the Consolidated Schedules of Investments and Notes to Consolidated Financial Statements.
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- Details
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| X | ||||||||||
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- Definition
The entire disclosure for the information required in the supplementary schedule applicable to management investment companies summarizing investments in and advances to majority-owned subsidiaries, other controlled companies, and other affiliates. It reflects specified information about ownership, financial results from, and financial position in such entities as of the balance sheet date and for the period then ended. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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