Document and Entity Information
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6 Months Ended | |
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Sep. 30, 2012
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Nov. 08, 2012
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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 Common Stock, Shares Outstanding | 3,798,393 | |
Document Fiscal Year Focus | 2013 | |
Document Fiscal Period Focus | Q2 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2012 |
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If the value is true, then the document is 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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- 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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- 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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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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The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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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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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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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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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. 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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- 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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- 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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- 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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- 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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- 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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- 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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- Definition
The sum of liabilities and net assets. No definition available.
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- Definition
Net asset value per share as of the balance sheet date. No definition available.
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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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- 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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- 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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- Definition
The net of assets and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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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- Definition
Amount before allocation of valuation allowances of deferred tax liability to taxable temporary differences. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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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- 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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- 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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- 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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- 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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- 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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- 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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- 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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- Definition
Carrying amounts due as of the balance sheet date from parties or arising from transactions not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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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- 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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- 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 (Unaudited) (Parenthetical) (USD $)
In Thousands, except Share data, unless otherwise specified |
Sep. 30, 2012
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Mar. 31, 2012
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Investments at market or fair value | ||
Companies more than 25% owned, Cost | $ 12,679 | $ 14,870 |
Companies 5% to 25% owned, Cost | 15,594 | 14,003 |
Companies less than 5% owned, Cost | 66,643 | 60,120 |
Total investments, Cost | $ 94,916 | $ 88,993 |
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) | 4,380,956 | 4,339,416 |
Treasury stock (in shares) | 584,878 | 584,878 |
Shares outstanding (in shares) | 3,796,078 | 3,754,538 |
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Cost as of the balance date of investments, in which the Company owns between 5% to 25% of the voting securities. No definition available.
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- Definition
Cost as of the balance date of investments, in which the Company owns more than 25% of the voting securities. No definition available.
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- Definition
Cost as of the balance date of investments, in which the Company owns less than 5% of the voting securities. No definition available.
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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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- 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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- 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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- Definition
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Cost of the investment. No definition available.
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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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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
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Sep. 30, 2012
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Sep. 30, 2011
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Sep. 30, 2012
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Sep. 30, 2011
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Investment income: | ||||
Interest | $ 591 | $ 484 | $ 1,178 | $ 937 |
Dividends | 668 | 621 | 1,240 | 1,193 |
Management and directors' fees | 85 | 152 | 377 | 324 |
Revenues total | 1,344 | 1,257 | 2,795 | 2,454 |
Operating expenses: | ||||
Salaries | 746 | 511 | 1,363 | 983 |
Stock option expense | 15 | 259 | 272 | 503 |
Net pension expense/(benefit) | 58 | (77) | (17) | (150) |
Professional fees | 269 | 234 | 576 | 539 |
Other operating expenses | 350 | 278 | 663 | 495 |
Total operating expenses | 1,438 | 1,205 | 2,857 | 2,370 |
Income/(loss) before income taxes | (94) | 52 | (62) | 84 |
Income tax expense | 27 | 29 | 40 | 47 |
Net investment income/ (loss) | (121) | 23 | (102) | 37 |
Proceeds from disposition of investments | 0 | 18,500 | 67,505 | 18,539 |
Cost of investments sold | 7 | 150 | 624 | 6,100 |
Net realized gain/(loss) on investments | (7) | 18,350 | 66,881 | 12,439 |
Net increase (decrease) in unrealized appreciation of investments | 50,321 | (44,076) | (28,200) | (48,634) |
Net realized and unrealized gain (loss) on investments | 50,314 | (25,726) | 38,681 | (36,195) |
Increase (decrease) in net assets from operations | $ 50,193 | $ (25,703) | $ 38,579 | $ (36,158) |
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The increase (decrease) during the reporting period in the aggregate amount of net assets from operations. No definition available.
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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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- Definition
The proceeds received from the sale, maturity and collection of all investments such as debt, security and so forth during the period. No definition available.
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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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- 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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- 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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- 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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- 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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- 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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- Details
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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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- 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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- 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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- 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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- Definition
The cash outflow associated with the purchase of all investments (debt, security, other) during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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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- 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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- 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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- 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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- 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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CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS (Unaudited) (USD $)
In Thousands, unless otherwise specified |
6 Months Ended | |
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Sep. 30, 2012
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Sep. 30, 2011
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Operations: | ||
Net investment income/(loss) | $ (102) | $ 37 |
Net realized gain on investments | 66,881 | 12,439 |
Net decrease in unrealized appreciation of investments | (28,200) | (48,634) |
Increase (decrease) in net assets from operations | 38,579 | (36,158) |
Distributions from: | ||
Undistributed net investment income | (1,505) | (1,501) |
Net realized gain distribution | (66,826) | |
Capital share transactions: | ||
Exercise of employee stock options | 3,017 | 98 |
Stock option expense | 272 | 503 |
Decrease in net assets | (26,463) | (37,058) |
Net assets, beginning of period | 628,706 | 539,233 |
Net assets, end of period | $ 602,243 | $ 502,175 |
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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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- Definition
The increase (decrease) during the reporting period in the aggregate amount of net assets. No definition available.
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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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- Definition
This item represents the net 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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- Details
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- Definition
Undistributed net investment income during the reporting period. No definition available.
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- Definition
The net of assets and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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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- 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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- 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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- 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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- Definition
Represents Increase decrease in commitment payable during the reporting period. No definition available.
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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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- 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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- 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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- Definition
Undistributed net investment income during the reporting period. No definition available.
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- Details
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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
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- 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
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- 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
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- 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
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- 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
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- 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
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- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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
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- Details
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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
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X | ||||||||||
- Definition
Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests. 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
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X | ||||||||||
- Definition
Cash dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporations that are returns of capital. Excludes dividends or distributions from equity method investments classified as operating activities. No definition available.
|
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
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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
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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
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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
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CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (USD $)
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6 Months Ended | 12 Months Ended | ||||||||||||||||||
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Sep. 30, 2012
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Mar. 31, 2012
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Cost | $ 94,916,000 | $ 88,993,000 | ||||||||||||||||||
Value | 536,269,000 | 558,546,000 | ||||||||||||||||||
ALAMO GROUP INC. [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Location | Seguin, Texas | [1],[2],[3],[4] | Seguin, Texas | [1],[2],[3],[4] | ||||||||||||||||
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] | 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] | ‡2,832,300 shares common stock (acquired 4-1-73 thru 5-09-11) | [1],[2],[3],[4],[6] | ||||||||||||||||
Cost | 2,190,937 | [1],[2],[3],[4] | 2,190,937 | [1],[2],[3],[4] | ||||||||||||||||
Value | 95,624,424 | [1],[2],[3],[4],[7] | 85,138,938 | [1],[2],[3],[4],[7] | ||||||||||||||||
ATLANTIC CAPITAL BANCSHARES, INC. [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Location | Atlanta, Georgia | [3],[4] | Atlanta, Georgia | [3],[4] | ||||||||||||||||
Description of company | Holding company of Atlantic Capital Bank, a full service commercial bank. | [3],[4] | Holding company of Atlantic Capital Bank, a full service commercial bank. | [3],[4] | ||||||||||||||||
Equity (in hundredths) | 1.90% | [3],[4],[5] | 1.90% | [3],[4],[5] | ||||||||||||||||
Investment | 300,000 shares common stock (acquired 4-10-07) | [3],[4] | 300,000 shares common stock (acquired 4-10-07) | [3],[4] | ||||||||||||||||
Cost | 3,000,000 | [3],[4] | 3,000,000 | [3],[4] | ||||||||||||||||
Value | 2,487,000 | [3],[4],[7] | 2,299,000 | [3],[4],[7] | ||||||||||||||||
BALCO, INC. [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Location | Wichita, Kansas | [3],[4],[8] | Wichita, Kansas | [3],[4],[8] | ||||||||||||||||
Description of company | Specialty architectural products used in the construction and remodeling of commercial and institutional buildings. | [3],[4],[8] | Specialty architectural products used in the construction and remodeling of commercial and institutional buildings. | [3],[4],[8] | ||||||||||||||||
Equity (in hundredths) | 95.70% | [3],[4],[5],[8] | 95.70% | [3],[4],[5],[8] | ||||||||||||||||
Investment | 445,000 shares common stock and 60,920 shares Class B non-voting common stock (acquired 10-25-83 and 5-30-02) | [3],[4],[8] | 445,000 shares common stock and 60,920 shares Class B non-voting common stock (acquired 10-25-83 and 5-30-02) | [3],[4],[8] | ||||||||||||||||
Cost | 624,920 | [3],[4],[8] | 624,920 | [3],[4],[8] | ||||||||||||||||
Value | 4,200,000 | [3],[4],[7],[8] | 4,100,000 | [3],[4],[7],[8] | ||||||||||||||||
BOXX TECHNOLOGIES, INC. [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Location | Austin, Texas | [2],[3],[4] | Austin, Texas | [2],[3],[4] | ||||||||||||||||
Description of company | Workstations for computer graphic imaging and design. | [2],[3],[4] | Workstations for computer graphic imaging and design. | [2],[3],[4] | ||||||||||||||||
Equity (in hundredths) | 14.90% | [2],[3],[4],[5] | 14.90% | [2],[3],[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) | [2],[3],[4] | 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) | [2],[3],[4] | ||||||||||||||||
Cost | 1,500,000 | [2],[3],[4] | 1,500,000 | [2],[3],[4] | ||||||||||||||||
Value | 900,000 | [2],[3],[4],[7] | 600,000 | [2],[3],[4],[7] | ||||||||||||||||
CINATRA CLEAN TECHNOLOGIES, INC. [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Location | Houston, Texas | [3],[4] | Houston, Texas | [3],[4] | ||||||||||||||||
Description of company | Cleans above ground oil storage tanks with a patented, automated system. | [3],[4] | Cleans above ground oil storage tanks with a patented, automated system. | [3],[4] | ||||||||||||||||
Equity (in hundredths) | 73.40% | [3],[4],[5] | 73.40% | [3],[4],[5] | ||||||||||||||||
Cost | 13,822,888 | [3],[4] | 13,563,842 | [3],[4] | ||||||||||||||||
Value | 3,875,001 | [3],[4],[7] | 6,002,348 | [3],[4],[7] | ||||||||||||||||
CINATRA CLEAN TECHNOLOGIES, INC. [Member] | Investment Type 1 [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Investment | 12% subordinated secured promissory note, due 5-9-2016 (acquired 5-19-10 thru 10-20-10) | [3],[4] | 12% subordinated secured promissory note, due 5-9-2016 (acquired 5-19-10 thru 10-20-10) | [3],[4] | ||||||||||||||||
Cost | 779,278 | [3],[4] | 779,278 | [3],[4] | ||||||||||||||||
Value | 280,000 | [3],[4],[7] | 444,189 | [3],[4],[7] | ||||||||||||||||
CINATRA CLEAN TECHNOLOGIES, INC. [Member] | Investment Type 2 [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Investment | 12% subordinated secured promissory note, due 5-9-2017 (acquired 5-9-11 thru 10-26-11) | [3],[4] | 12% subordinated secured promissory note, due 5-9-2017 (acquired 5-9-11 thru 10-26-11) | [3],[4] | ||||||||||||||||
Cost | 2,285,700 | [3],[4] | 2,285,700 | [3],[4] | ||||||||||||||||
Value | 821,000 | [3],[4],[7] | 1,302,849 | [3],[4],[7] | ||||||||||||||||
CINATRA CLEAN TECHNOLOGIES, INC. [Member] | Investment Type 3 [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Investment | 12% subordinated secured promissory note, due 3-31-2017 (acquired 9-9-11 and 10-26-11) | [3],[4] | 12% subordinated secured promissory note, due 8-31-2016 (acquired 9-9-11 and 10-26-11) | [3],[4] | ||||||||||||||||
Cost | 1,523,800 | [3],[4] | 1,264,754 | [3],[4] | ||||||||||||||||
Value | 547,000 | [3],[4],[7] | 720,910 | [3],[4],[7] | ||||||||||||||||
CINATRA CLEAN TECHNOLOGIES, INC. [Member] | Investment Type 4 [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Investment | 10% subordinated secured promissory note, due 5-9-2017 (acquired 7-14-08 thru 4-28-10) | [3],[4] | 10% subordinated secured promissory note, due 5-9-2017 (acquired 7-14-08 thru 4-28-10) | [3],[4] | ||||||||||||||||
Cost | 6,200,700 | [3],[4] | 6,200,700 | [3],[4] | ||||||||||||||||
Value | 2,227,000 | [3],[4],[7] | 3,534,399 | [3],[4],[7] | ||||||||||||||||
CINATRA CLEAN TECHNOLOGIES, INC. [Member] | Investment Type 5 [Member]
|
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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) | [3],[4] | 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) | [3],[4] | ||||||||||||||||
Cost | 3,033,410 | [3],[4] | 3,033,410 | [3],[4] | ||||||||||||||||
Value | 1 | [3],[4],[7] | 1 | [3],[4],[7] | ||||||||||||||||
CINATRA CLEAN TECHNOLOGIES, INC. [Member] | Investment Type 6 [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Investment | Warrants to purchase 1,269,833 shares of common stock at $1.00 per share, expiring 8-31-2021 (acquired 5-9-11 thru 8-31-11) | [3],[4] | Warrants to purchase 1,269,833 shares of common stock at $1.00 per share, expiring 8-31-2021 (acquired 5-9-11 thru 8-31-11) | [3],[4] | ||||||||||||||||
Cost | 0 | [3],[4] | 0 | [3],[4] | ||||||||||||||||
Value | 0 | [3],[4],[7] | 0 | [3],[4],[7] | ||||||||||||||||
ENCORE WIRE CORPORATION [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Location | McKinney, Texas | [1],[2],[3],[4] | McKinney, Texas | [1],[2],[3],[4] | ||||||||||||||||
Description of company | Electric wire and cable for residential, commercial and industrial construction use. | [1],[2],[3],[4] | Electric wire and cable for residential, commercial and industrial construction use. | [1],[2],[3],[4] | ||||||||||||||||
Equity (in hundredths) | 6.20% | [1],[2],[3],[4],[5] | 16.90% | [1],[2],[3],[4],[5] | ||||||||||||||||
Investment | ‡1,312,500 shares common stock (acquired 9-10-92 thru 10-15-98) | [1],[2],[3],[4],[6] | ‡4,086,750 shares common stock (acquired 7-16-92 thru 10-7-98) | [1],[2],[3],[4],[6] | ||||||||||||||||
Cost | 5,200,000 | [1],[2],[3],[4] | 5,800,000 | [1],[2],[3],[4] | ||||||||||||||||
Value | 38,403,750 | [1],[2],[3],[4],[7] | 121,458,210 | [1],[2],[3],[4],[7] | ||||||||||||||||
EXTREME INTERNATIONAL, INC. [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Location | Sugar Land, Texas | [3],[4] | Sugar Land, Texas | [3],[4] | ||||||||||||||||
Description of company | Owns Bill Young Productions, Texas Video and Post, and Extreme and television commercials and corporate communications videos. | [3],[4] | Owns Bill Young Productions, Texas Video and Post, and Extreme and television commercials and corporate communications videos. | [3],[4] | ||||||||||||||||
Equity (in hundredths) | 53.60% | [3],[4],[5] | 53.60% | [3],[4],[5] | ||||||||||||||||
Cost | 3,325,875 | [3],[4] | 3,325,875 | [3],[4] | ||||||||||||||||
Value | 10,521,000 | [3],[4],[7] | 10,162,000 | [3],[4],[7] | ||||||||||||||||
EXTREME INTERNATIONAL, INC. [Member] | Investment Type 1 [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Investment | 13,035 shares Series A Common Stock (acquired 9-26-08 and 12-18-08) | [3],[4] | 13,035 shares Series A Common Stock (acquired 9-26-08 and 12-18-08) | [3],[4] | ||||||||||||||||
Cost | 325,875 | [3],[4] | 325,875 | [3],[4] | ||||||||||||||||
Value | 740,000 | [3],[4],[7] | 714,000 | [3],[4],[7] | ||||||||||||||||
EXTREME INTERNATIONAL, INC. [Member] | Investment Type 2 [Member]
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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) | [3],[4] | 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) | [3],[4] | ||||||||||||||||
Cost | 2,625,000 | [3],[4] | 2,625,000 | [3],[4] | ||||||||||||||||
Value | 8,930,000 | [3],[4],[7] | 8,626,000 | [3],[4],[7] | ||||||||||||||||
EXTREME INTERNATIONAL, INC. [Member] | Investment Type 3 [Member]
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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) | [3],[4] | 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) | [3],[4] | ||||||||||||||||
Cost | 375,000 | [3],[4] | 375,000 | [3],[4] | ||||||||||||||||
Value | 851,000 | [3],[4],[7] | 822,000 | [3],[4],[7] | ||||||||||||||||
HEELYS, INC. [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Location | Carrollton, Texas | [1],[3],[4],[8] | Carrollton, Texas | [3],[4],[8] | ||||||||||||||||
Description of company | Heelys stealth skate shoes, equipment and apparel sold through sporting goods chains, department stores and footwear retailers. | [1],[3],[4],[8] | Heelys stealth skate shoes, equipment and apparel sold through sporting goods chains, department stores and footwear retailers. | [3],[4],[8] | ||||||||||||||||
Equity (in hundredths) | 31.10% | [1],[3],[4],[5],[8] | 31.10% | [3],[4],[5],[8] | ||||||||||||||||
Investment | ‡9,317,310 shares common stock (acquired 5-26-00) | [1],[3],[4],[6],[8] | ‡9,317,310 shares common stock (acquired 5-26-00) | [3],[4],[6],[8] | ||||||||||||||||
Cost | 102,490 | [1],[3],[4],[8] | 102,490 | [3],[4],[8] | ||||||||||||||||
Value | 16,771,158 | [1],[3],[4],[7],[8] | 20,498,082 | [3],[4],[7],[8] | ||||||||||||||||
HOLOGIC, INC. [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Location | Bedford, Massachusetts | [1],[3],[4] | Bedford, Massachusetts | [1],[3],[4] | ||||||||||||||||
Description of company | Medical instruments including bone densitometers, mammography devices and digital radiography systems. | [1],[3],[4] | Medical instruments including bone densitometers, mammography devices and digital radiography systems. | [1],[3],[4] | ||||||||||||||||
Equity (in hundredths) | 1.00% | [1],[3],[4],[5] | 1.00% | [1],[3],[4],[5] | ||||||||||||||||
Investment | ‡582,820 shares common stock (acquired 8-27-99) | [1],[3],[4],[6] | ‡632,820 shares common stock (acquired 8-27-99) | [1],[3],[4],[6] | ||||||||||||||||
Cost | 202,529 | [1],[3],[4] | 220,000 | [1],[3],[4] | ||||||||||||||||
Value | 11,784,620 | [1],[3],[4],[7] | 13,637,271 | [1],[3],[4],[7] | ||||||||||||||||
iMEMORIES, INC. [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Location | Scottsdale, Arizona | [3],[4] | Scottsdale, Arizona | [3],[4] | ||||||||||||||||
Description of company | Enables online video and photo sharing and DVD creation for home movies recorded in analog and new digital format. | [3],[4] | Enables online video and photo sharing and DVD creation for home movies recorded in analog and new digital format. | [3],[4] | ||||||||||||||||
Equity (in hundredths) | 23.00% | [3],[4],[5] | 25.30% | [3],[4],[5] | ||||||||||||||||
Cost | 5,386,479 | [3],[4] | 5,078,479 | [3],[4] | ||||||||||||||||
Value | 5,386,479 | [3],[4],[7] | 5,078,479 | [3],[4],[7] | ||||||||||||||||
iMEMORIES, INC. [Member] | Investment Type 1 [Member]
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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) | [3],[4] | 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) | [3],[4] | ||||||||||||||||
Cost | 4,000,000 | [3],[4] | 4,000,000 | [3],[4] | ||||||||||||||||
Value | 4,000,000 | [3],[4],[7] | 4,000,000 | [3],[4],[7] | ||||||||||||||||
iMEMORIES, INC. [Member] | Investment Type 2 [Member]
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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) | [3],[4] | 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) | [3],[4] | ||||||||||||||||
Cost | 1,078,479 | [3],[4] | 1,078,479 | [3],[4] | ||||||||||||||||
Value | 1,078,479 | [3],[4],[7] | 1,078,479 | [3],[4],[7] | ||||||||||||||||
iMEMORIES, INC. [Member] | Investment Type 3 [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Investment | Warrants to purchase 2,500,000 shares of common stock at $0.12 per share, expiring 1-21-21(acquired 9-13-10 thru 1-21-11) | [3],[4] | Warrants to purchase 2,500,000 shares of common stock at $0.12 per share, expiring 1-21-21(acquired 9-13-10 thru 1-21-11) | [3],[4] | ||||||||||||||||
Cost | 0 | [3],[4] | 0 | [3],[4] | ||||||||||||||||
Value | 0 | [3],[4],[7] | 0 | [3],[4],[7] | ||||||||||||||||
iMEMORIES, INC. [Member] | Investment Type 4 [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Investment | 10% convertible notes, $308,000 principal due 7-31-2014 (acquired 9-7-12) | [3],[4] | ||||||||||||||||||
Cost | 308,000 | [3],[4] | ||||||||||||||||||
Value | 308,000 | [3],[4],[7] | ||||||||||||||||||
INSTAWARES HOLDING COMPANY, LLC [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Location | Atlanta, Georgia | [3],[4] | Atlanta, Georgia | [3],[4] | ||||||||||||||||
Description of company | Provides services to the restaurant industry via its five subsidiary companies. | [3],[4] | Provides services to the restaurant industry via its five subsidiary companies. | [3],[4] | ||||||||||||||||
Equity (in hundredths) | 4.50% | [3],[4],[5] | 4.50% | [3],[4],[5] | ||||||||||||||||
Investment | 3,846,154 Class D shares (acquired 5-20-11) | [3],[4] | 3,846,154 Class D shares (acquired 5-20-11) | [3],[4] | ||||||||||||||||
Cost | 5,000,000 | [3],[4] | 5,000,000 | [3],[4] | ||||||||||||||||
Value | 5,735,000 | [3],[4],[7] | 5,000,000 | [3],[4],[7] | ||||||||||||||||
KBI BIOPHARMA, INC. [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Location | Durham, North Carolina | [3],[4] | Durham, North Carolina | [3],[4] | ||||||||||||||||
Description of company | Provides fully-integrated, outsourced drug development and bio-manufacturing services. | [3],[4] | Provides fully-integrated, outsourced drug development and bio-manufacturing services. | [3],[4] | ||||||||||||||||
Equity (in hundredths) | 17.10% | [3],[4],[5] | 17.10% | [3],[4],[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) | [3],[4] | ||||||||||||||||||
Cost | 5,000,000 | [3],[4] | 5,000,000 | [3],[4] | ||||||||||||||||
Value | 5,400,000 | [3],[4],[7] | 3,200,000 | [3],[4],[7] | ||||||||||||||||
KBI BIOPHARMA, INC. [Member] | Investment Type 1 [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Investment | 7,142,857 shares Series B-2 Convertible Preferred Stock, convertible into 7,142,857 shares of common stock at $0.49 per share (acquired 9-08-09) | [3],[4] | ||||||||||||||||||
Cost | 5,000,000 | [3],[4] | ||||||||||||||||||
Value | 5,400,000 | [3],[4],[7] | ||||||||||||||||||
KBI BIOPHARMA, INC. [Member] | Investment Type 2 [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Investment | Warrants to purchase 63,007 shares of preferred stock at $ 0.70 per share, acquired 1-26-2012 | [3],[4] | ||||||||||||||||||
Cost | 0 | [3],[4] | ||||||||||||||||||
Value | 0 | [3],[4],[7] | ||||||||||||||||||
MEDIA RECOVERY, INC. [Member]
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Location | Dallas, Texas | [3],[4],[8] | Dallas, Texas | [3],[4],[8] | ||||||||||||||||
Description of company | Computer datacenter and office automation supplies and accessories; impact, tilt monitoring and temperature sensing devices to detect mishandling shipments; dunnage for protecting shipments. | [3],[4],[8] | Computer datacenter and office automation supplies and accessories; impact, tilt monitoring and temperature sensing devices to detect mishandling shipments; dunnage for protecting shipments. | [3],[4],[8] | ||||||||||||||||
Equity (in hundredths) | 97.90% | [3],[4],[5],[8] | 97.90% | [3],[4],[5],[8] | ||||||||||||||||
Cost | 5,415,000 | [3],[4],[8] | 5,415,000 | [3],[4],[8] | ||||||||||||||||
Value | 12,100,000 | [3],[4],[7],[8] | 18,700,000 | [3],[4],[7],[8] | ||||||||||||||||
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) | [3],[4],[8] | 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) | [3],[4],[8] | ||||||||||||||||
Cost | 800,000 | [3],[4],[8] | 800,000 | [3],[4],[8] | ||||||||||||||||
Value | 2,000,000 | [3],[4],[7],[8] | 3,100,000 | [3],[4],[7],[8] | ||||||||||||||||
MEDIA RECOVERY, INC. [Member] | Investment Type 2 [Member]
|
||||||||||||||||||||
Schedule of Investments [Line Items] | ||||||||||||||||||||
Investment | 4,000,002 shares common stock (acquired 11-4-97) | [3],[4],[8] | 4,000,002 shares common stock (acquired 11-4-97) | [3],[4],[8] | ||||||||||||||||
Cost | 4,615,000 | [3],[4],[8] | 4,615,000 | [3],[4],[8] | ||||||||||||||||
Value | 10,100,000 | [3],[4],[7],[8] | 15,600,000 | [3],[4],[7],[8] | ||||||||||||||||
PALLETONE, INC. [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Location | Bartow, Florida | [2],[3],[4] | Bartow, Florida | [2],[3],[4] | ||||||||||||||||
Description of company | Manufacturer of wooden pallets and pressure-treated lumber. | [2],[3],[4] | Manufacturer of wooden pallets and pressure-treated lumber. | [2],[3],[4] | ||||||||||||||||
Equity (in hundredths) | 7.70% | [2],[3],[4],[5] | 7.70% | [2],[3],[4],[5] | ||||||||||||||||
Cost | 1,703,150 | [2],[3],[4] | 1,703,150 | [2],[3],[4] | ||||||||||||||||
Value | 1,700,002 | [2],[3],[4],[7] | 2,000,002 | [2],[3],[4],[7] | ||||||||||||||||
PALLETONE, INC. [Member] | Investment Type 1 [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Investment | 12.3% senior subordinated notes, $2,000,000 principal due 12-18-2015 (acquired 9-25-06) | [2],[3],[4] | 12.3% senior subordinated notes, $2,000,000 principal due 12-18- 2015 (acquired 9-25-06) | [2],[3],[4] | ||||||||||||||||
Cost | 1,553,150 | [2],[3],[4] | 1,553,150 | [2],[3],[4] | ||||||||||||||||
Value | 1,700,000 | [2],[3],[4],[7] | 2,000,000 | [2],[3],[4],[7] | ||||||||||||||||
PALLETONE, INC. [Member] | Investment Type 2 [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Investment | 150,000 shares common stock (acquired 10-18-01) | [2],[3],[4] | 150,000 shares common stock (acquired 10-18-01) | [2],[3],[4] | ||||||||||||||||
Cost | 150,000 | [2],[3],[4] | 150,000 | [2],[3],[4] | ||||||||||||||||
Value | 2 | [2],[3],[4],[7] | 2 | [2],[3],[4],[7] | ||||||||||||||||
THE RECTORSEAL CORPORATION [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Location | Houston, Texas | [3],[4],[8] | Houston, Texas | [3],[4],[8] | ||||||||||||||||
Description of company | Specialty chemicals for plumbing, HVAC, electrical, construction, industrial, oil field and automotive applications; smoke containment systems for building fires; also owns 20% of The Whitmore Manufacturing Company. | [3],[4],[8] | Specialty chemicals for plumbing, HVAC, electrical, construction, industrial, oil field and automotive applications; smoke containment systems for building fires; also owns 20% of The Whitmore Manufacturing Company. | [3],[4],[8] | ||||||||||||||||
Equity (in hundredths) | 100.00% | [3],[4],[5],[8] | 100.00% | [3],[4],[5],[8] | ||||||||||||||||
Investment | 27,907 shares common stock (acquired 1-5-73 and 3-31-73) | [3],[4],[8] | 27,907 shares common stock (acquired 1-5-73 and 3-31-73) | [3],[4],[8] | ||||||||||||||||
Cost | 52,600 | [3],[4],[8] | 52,600 | [3],[4],[8] | ||||||||||||||||
Value | 208,600,000 | [3],[4],[7],[8] | 166,300,000 | [3],[4],[7],[8] | ||||||||||||||||
TCI HOLDINGS, INC. [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Location | Denver, Colorado | [3],[4] | Denver, Colorado | [3],[4] | ||||||||||||||||
Description of company | Cable television systems and microwave relay systems. | [3],[4] | Cable television systems and microwave relay systems. | [3],[4] | ||||||||||||||||
Equity (in hundredths) | 0.00% | [3],[4],[5] | 0.00% | [3],[4],[5] | ||||||||||||||||
Investment | 21 shares 12% Series C Cumulative Compounding Preferred Stock (acquired 1-30-90) | [3],[4] | 21 shares 12% Series C Cumulative Compounding Preferred Stock (acquired 1-30-90) | [3],[4] | ||||||||||||||||
Cost | 0 | [3],[4] | 0 | [3],[4] | ||||||||||||||||
Value | 796,000 | [3],[4],[7] | 802,000 | [3],[4],[7] | ||||||||||||||||
TITANLINER INC [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Location | Midland, Texas | [3],[4] | ||||||||||||||||||
Description of company | Manufactures, installs and rents spill containment system for oilfield applications. | [3],[4] | ||||||||||||||||||
Equity (in hundredths) | 29.90% | [3],[4],[5] | ||||||||||||||||||
Cost | 5,950,000 | [3],[4] | ||||||||||||||||||
Value | 5,950,000 | [3],[4],[7] | ||||||||||||||||||
TITANLINER INC [Member] | Investment Type 1 [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Investment | 217,038 shares Series A Convertible Preferred Stock convertible into 217,038 shares of Series A preferred stock at $12.65 per share (acquired 6-29-2012) | [3],[4] | ||||||||||||||||||
Cost | 3,203,000 | [3],[4] | ||||||||||||||||||
Value | 3,203,000 | [3],[4],[7] | ||||||||||||||||||
TITANLINER INC [Member] | Investment Type 2 [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Investment | 7% senior subordinated secured promissory note, due 6-30-2017 (acquired 6-29-2012) | [3],[4] | ||||||||||||||||||
Cost | 2,747,000 | [3],[4] | ||||||||||||||||||
Value | 2,747,000 | [3],[4],[7] | ||||||||||||||||||
TITANLINER INC [Member] | Investment Type 3 [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Investment | Warrants to purchase 122,239 shares of Series A preferred stock at $ 0.01 per share, expiring 1-26-2012 | [3],[4] | ||||||||||||||||||
Cost | 0 | [3],[4] | ||||||||||||||||||
Value | 0 | [3],[4],[7] | ||||||||||||||||||
TRAX HOLDINGS, INC. [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Location | Scottsdale, Arizona | [3],[4] | Scottsdale, Arizona | [3],[4] | ||||||||||||||||
Description of company | Provides a comprehensive set of solutions to improve the transportation validation, accounting, payment and information management process. | [3],[4] | Provides a comprehensive set of solutions to improve the transportation validation, accounting, payment and information management process. | [3],[4] | ||||||||||||||||
Equity (in hundredths) | 25.40% | [3],[4],[5] | 29.40% | [3],[4],[5] | ||||||||||||||||
Cost | 8,200,000 | [3],[4] | 8,200,000 | [3],[4] | ||||||||||||||||
Value | 12,200,000 | [3],[4],[7] | 9,800,000 | [3],[4],[7] | ||||||||||||||||
TRAX HOLDINGS, INC. [Member] | Investment Type 1 [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Investment | 18% convertible promissory note, $3,200,000 principal due 9-17-2012 (acquired 4-6-11 thru 11-10-11) | [3],[4] | 18% convertible promissory note, $3,200,000 principal due 9-17-2012 (acquired 4-6-11 thru 11-10-11) | [3],[4] | ||||||||||||||||
Cost | 3,200,000 | [3],[4] | 3,200,000 | [3],[4] | ||||||||||||||||
Value | 3,200,000 | [3],[4],[7] | 3,200,000 | [3],[4],[7] | ||||||||||||||||
TRAX HOLDINGS, INC. [Member] | Investment Type 2 [Member]
|
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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) | [3],[4] | 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) | [3],[4] | ||||||||||||||||
Cost | 5,000,000 | [3],[4] | 5,000,000 | [3],[4] | ||||||||||||||||
Value | 9,000,000 | [3],[4],[7] | 6,600,000 | [3],[4],[7] | ||||||||||||||||
VIA HOLDINGS, INC. [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Location | Sparks, Nevada | [3],[4] | Sparks, Nevada | [3],[4] | ||||||||||||||||
Description of company | Designer, manufacturer and distributor of high-quality office seating. | [3],[4] | Designer, manufacturer and distributor of high-quality office seating. | [3],[4] | ||||||||||||||||
Equity (in hundredths) | 3.20% | [3],[4],[5] | 3.20% | [3],[4],[5] | ||||||||||||||||
Investment | 12,686 shares common stock (acquired 3-4-11 and 3-25-11) | [3],[4] | 12,686 shares common stock (acquired 3-4-11 and 3-25-11) | [3],[4] | ||||||||||||||||
Cost | 4,926,290 | [3],[4] | 4,926,290 | [3],[4] | ||||||||||||||||
Value | 2 | [3],[4],[7] | 2 | [3],[4],[7] | ||||||||||||||||
WELLOGIX, INC. [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Location | Houston, Texas | [2],[3],[4] | Houston, Texas | [2],[3],[4] | ||||||||||||||||
Description of company | Developer and supporter of software used by the oil and gas industry. | [2],[3],[4] | Developer and supporter of software used by the oil and gas industry. | [2],[3],[4] | ||||||||||||||||
Equity (in hundredths) | 19.10% | [2],[3],[4],[5] | 19.10% | [2],[3],[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) | [2],[3],[4] | 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) | [2],[3],[4] | ||||||||||||||||
Cost | 5,000,000 | [2],[3],[4] | 5,000,000 | [2],[3],[4] | ||||||||||||||||
Value | 25,000 | [2],[3],[4],[7] | 25,000 | [2],[3],[4],[7] | ||||||||||||||||
THE WHITMORE MANUFACTURING COMPANY [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Location | Rockwall, Texas | [3],[4],[8] | Rockwall, Texas | [3],[4],[8] | ||||||||||||||||
Description of company | Specialized surface mining, railroad and industrial lubricants; coatings for automobiles and primary metals; fluid contamination control devices. | [3],[4],[8] | Specialized surface mining, railroad and industrial lubricants; coatings for automobiles and primary metals; fluid contamination control devices. | [3],[4],[8] | ||||||||||||||||
Equity (in hundredths) | 80.00% | [3],[4],[5],[8] | 80.00% | [3],[4],[5],[8] | ||||||||||||||||
Investment | 80 shares common stock (acquired 8-31-79) | [3],[4],[8] | 80 shares common stock (acquired 8-31-79) | [3],[4],[8] | ||||||||||||||||
Cost | 1,600,000 | [3],[4],[8] | 1,600,000 | [3],[4],[8] | ||||||||||||||||
Value | 77,100,000 | [3],[4],[7],[8] | 67,200,000 | [3],[4],[7],[8] | ||||||||||||||||
Ballast Point Ventures II, L.P. [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Equity (in hundredths) | 0.00% | [3],[4],[5] | 0.00% | [3],[4],[5] | ||||||||||||||||
Investment | Ballast Point Ventures II, L.P. 2.2% limited partnership interest (acquired 8-4-08 thru 6-18-10) | [3],[4] | Ballast Point Ventures II, L.P. 2.2% limited partnership interest (acquired 8-4-08 thru 6-18-10) | [3],[4] | ||||||||||||||||
Cost | 1,725,000 | [3],[4] | 1,725,000 | [3],[4] | ||||||||||||||||
Value | 1,571,000 | [3],[4],[7] | 1,551,000 | [3],[4],[7] | ||||||||||||||||
BankCap Partners Fund I, L.P. [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Equity (in hundredths) | 0.00% | [3],[4],[5] | 0.00% | [3],[4],[5] | ||||||||||||||||
Investment | BankCap Partners Fund I, L.P. 5.5% limited partnership interest (acquired 7-14-06 thru 11-30-11) | [3],[4] | BankCap Partners Fund I, L.P. 5.5% limited partnership interest (acquired 7-14-06 thru 11-30-11) | [3],[4] | ||||||||||||||||
Cost | 5,850,470 | [3],[4] | 5,808,470 | [3],[4] | ||||||||||||||||
Value | 5,009,000 | [3],[4],[7] | 5,012,000 | [3],[4],[7] | ||||||||||||||||
CapitalSouth Partners Fund III, L.P. [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Equity (in hundredths) | 0.00% | [3],[4],[5] | 0.00% | [3],[4],[5] | ||||||||||||||||
Investment | CapitalSouth Partners Fund III, L.P. 1.9% limited partnership interest (acquired 1-22-08 and 11-16-11) | [3],[4] | CapitalSouth Partners Fund III, L.P. 1.9% limited partnership interest (acquired 1-22-08 and 11-16-11) | [3],[4] | ||||||||||||||||
Cost | 1,331,256 | [3],[4] | 1,331,256 | [3],[4] | ||||||||||||||||
Value | 1,618,000 | [3],[4],[7] | 1,438,000 | [3],[4],[7] | ||||||||||||||||
CapStar Holdings Corporation [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Equity (in hundredths) | 100.00% | [3],[4],[5],[8] | 100.00% | [3],[4],[5],[8] | ||||||||||||||||
Investment | ¥CapStar Holdings Corporation 500 shares common stock (acquired 6-10-10) | [3],[4] | ¥CapStar Holdings Corporation 500 shares common stock (acquired 6-10-10) | [3],[4] | ||||||||||||||||
Cost | 3,703,619 | [3],[4],[8] | 3,703,619 | [3],[4],[8] | ||||||||||||||||
Value | 5,693,000 | [3],[4],[7],[8] | 5,338,000 | [3],[4],[7],[8] | ||||||||||||||||
Diamond State Ventures, L.P. [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Equity (in hundredths) | 0.00% | [3],[4],[5] | 0.00% | [3],[4],[5] | ||||||||||||||||
Investment | Diamond State Ventures, L.P. 1.4% limited partnership interest (acquired 10-12-99 thru 8-26-05) | [3],[4] | Diamond State Ventures, L.P. 1.4% limited partnership interest (acquired 10-12-99 thru 8-26-05) | [3],[4] | ||||||||||||||||
Cost | 57,400 | [3],[4] | 76,000 | [3],[4] | ||||||||||||||||
Value | 179,000 | [3],[4],[7] | 184,000 | [3],[4],[7] | ||||||||||||||||
Discovery Alliance, LLC [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Equity (in hundredths) | 0.00% | [3],[4],[5],[8] | 0.00% | [3],[4],[5],[8] | ||||||||||||||||
Investment | ¥Discovery Alliance, LLC 90.0% limited liability company (acquired 9-12-08 thru 10-20-11) | [3],[4] | ¥Discovery Alliance, LLC 90.0% limited liability company (acquired 9-12-08 thru 10-20-11) | [3],[4] | ||||||||||||||||
Cost | 1,180,000 | [3],[4],[8] | 1,180,000 | [3],[4],[8] | ||||||||||||||||
Value | 971,000 | [3],[4],[7],[8] | 1,280,000 | [3],[4],[7],[8] | ||||||||||||||||
First Capital Group of Texas III, L.P. [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Equity (in hundredths) | 0.00% | [3],[4],[5] | 0.00% | [3],[4],[5] | ||||||||||||||||
Investment | First Capital Group of Texas III, L.P. 3.0% limited partnership interest (acquired 12-26-00 thru 8-12-05) | [3],[4] | First Capital Group of Texas III, L.P. 3.0% limited partnership interest (acquired 12-26-00 thru 8-12-05) | [3],[4] | ||||||||||||||||
Cost | 778,895 | [3],[4] | 778,895 | [3],[4] | ||||||||||||||||
Value | 771,000 | [3],[4],[7] | 662,000 | [3],[4],[7] | ||||||||||||||||
Humac Company [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Equity (in hundredths) | 100.00% | [3],[4],[5],[8] | 100.00% | [3],[4],[5],[8] | ||||||||||||||||
Investment | ¥Humac Company 1,041,000 shares common stock (acquired 1-31-75 and 12-31-75) | [3],[4] | ¥Humac Company 1,041,000 shares common stock (acquired 1-31-75 and 12-31-75) | [3],[4] | ||||||||||||||||
Cost | 0 | [3],[4],[8] | 0 | [3],[4],[8] | ||||||||||||||||
Value | 168,000 | [3],[4],[7],[8] | 159,000 | [3],[4],[7],[8] | ||||||||||||||||
STARTech Seed Fund I [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Equity (in hundredths) | 0.00% | [3],[4],[5] | 0.00% | [3],[4],[5] | ||||||||||||||||
Investment | STARTech Seed Fund I 12.1% limited partnership interest (acquired 4-17-98 thru 1-5-00) | [3],[4] | STARTech Seed Fund I 12.1% limited partnership interest (acquired 4-17-98 thru 1-5-00) | [3],[4] | ||||||||||||||||
Cost | 178,066 | [3],[4] | 178,066 | [3],[4] | ||||||||||||||||
Value | 34,000 | [3],[4],[7] | 39,000 | [3],[4],[7] | ||||||||||||||||
STARTech Seed Fund II [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Equity (in hundredths) | 0.00% | [3],[4],[5] | 0.00% | [3],[4],[5] | ||||||||||||||||
Investment | STARTech Seed Fund II 3.2% limited partnership interest (acquired 4-28-00 thru 2-23-05) | [3],[4] | STARTech Seed Fund II 3.2% limited partnership interest (acquired 4-28-00 thru 2-23-05) | [3],[4] | ||||||||||||||||
Cost | 843,891 | [3],[4] | 843,891 | [3],[4] | ||||||||||||||||
Value | 400,000 | [3],[4],[7] | 371,000 | [3],[4],[7] | ||||||||||||||||
Sterling Group Partners I, L.P. [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Equity (in hundredths) | 0.00% | [3],[4],[5] | 0.00% | [3],[4],[5] | ||||||||||||||||
Investment | Sterling Group Partners I, L.P. 1.7% limited partnership interest (acquired 4-20-01 thru 1-24-05) | [3],[4] | Sterling Group Partners I, L.P. 1.7% limited partnership interest (acquired 4-20-01 thru 1-24-05) | [3],[4] | ||||||||||||||||
Cost | 827,056 | [3],[4] | 1,064,042 | [3],[4] | ||||||||||||||||
Value | 73,000 | [3],[4],[7] | 511,000 | [3],[4],[7] | ||||||||||||||||
North American Energy Partners, Inc [Member]
|
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Schedule of Investments [Line Items] | ||||||||||||||||||||
Equity (in hundredths) | 0.00% | [1],[3],[4],[5] | ||||||||||||||||||
Investment | †North American Energy Partners, Inc. 77,194 shares common stock (acquired 8-20-12) | [3],[4] | ||||||||||||||||||
Cost | 236,986 | [1],[3],[4] | ||||||||||||||||||
Value | $ 222,319 | [1],[3],[4],[7] | ||||||||||||||||||
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ORGANIZATION AND BASIS OF PRESENTATION
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6 Months Ended | ||
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Sep. 30, 2012
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ORGANIZATION AND BASIS OF PRESENTATION [Abstract] | |||
ORGANIZATION AND BASIS OF PRESENTATION |
Organization Capital Southwest Corporation ("CSW") was organized as a Texas corporation on April 19, 1961. Until September 1969, CSW 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 registered under the Investment Company Act of 1940 (the "1940 Act"). Prior to March 30, 1988, CSW was registered as a closed-end, non-diversified investment company under the 1940 Act. On that date, CSW 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 CSW wholly owns CSVC, the portfolios of both CSW and CSVC are referred to collectively as "our," "we" and "us." Capital Southwest Management Company ("CSMC"), a wholly-owned subsidiary of CSW, is the management company for CSW 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 its 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, our consolidated financial statements include CSMC, our management company. The financial statements included herein have been prepared in accordance with GAAP for interim financial information and the instructions to Form 10-Q and Article 6 of Regulation S-X. The financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended March 31, 2012 (the "Form 10-K"), as filed with the Securities and Exchange Commission (SEC). Certain information and footnotes normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, although we believe that the disclosures provided in this Form 10-Q are adequate for a fair presentation. The information reflects all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for a fair presentation of the results of operations for the interim period. 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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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following is a summary of significant accounting policies followed in the preparation of the consolidated financial statements of CSW, CSVC and CSMC. Fair Value Measurements We adopted FASB ASC 820 on April 1, 2008. ASC 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 Topic 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 Topic 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 does not eliminate practicability exceptions that exist in accounting pronouncements amended by this Topic 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 at the end of our fiscal year. Our Board of Directors retained Duff & Phelps to provide limited scope third party valuation services on six investments comprising 85.8% of our net asset value at March 31, 2012. For full disclosure of Duff & Phelps' services, see page 5 of the Form 10-K under the heading "Determination of Net Asset Value and Portfolio Valuation Process." We believe our investments at September 30, 2012 and March 31, 2012 approximate fair value based on the market in which we operate and other conditions in existence as of these dates. 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 CSW 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 company taxable income, as defined by the IRC, each year. Investment 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. In addition to the requirement that we must annually distribute at least 90% of our investment company taxable income, we may either distribute or retain our realized net capital gains from investments, but any net capital gains not distributed may be subject to corporate level tax. Historically, we have not distributed net capital gains; however, during the six months ended September 30, 2012 we distributed capital gains dividends in the amount of $17.59 per share to our shareholders. When we retain the capital gains, they are classified as a "deemed distribution" to our shareholders and are subject to our corporate tax rate of 35%. As an investment company that qualifies as a RIC 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. Any capital gains actually distributed to shareholders are generally taxable to the shareholders as long-term capital gains. See Note 4 for further discussion. CSMC, a wholly owned subsidiary of CSW, 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 six months ended September 30, 2012 and 2011. 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 awards granted to employees prior to April 1, 2006 that remain unvested. 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. Recent Accounting Pronouncements In May 2011, the FASB issued Accounting Standards Update ("ASU") 2011-04, Fair Value Measurements (ASC 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. The adoption of ASU 2011-04 did not have a significant impact on our financial condition and results of operations. See Note 3 Investment for further information regarding valuation techniques and quantitative information about the significant unobservable inputs utilized by our Company to value Level 3 investments. |
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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 |
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 Standards 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 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. Unobservable inputs are those inputs for which little or no market data exists and, therefore, require an entity to develop its own assumptions. The fair value determination of each portfolio company requires one or more of the following unobservable inputs:
Preferred Stock and Common Stock The significant unobservable inputs used in the fair value measurement of our equity securities are EBITDA multiples, revenue multiples, net book values, tangible book value multiples, and the weighted average costs of capital ("WACC"). Generally, increases or decreases in EBITDA or revenue multiple inputs result in a higher or lower fair value measurement, respectively. Generally, increases or decreases in WACC result in a lower or higher fair value measurement, respectively. However, due to the nature of certain investments, fair value measurements may be based on other criteria, such as third party-appraisals. For recent investments, we generally rely on our cost basis to determine the fair value unless fair value is deemed to have departed from this level. Debt Securities The significant unobservable inputs used in the fair value measurement of our debt securities are risk adjusted discount factors used in the yield valuation technique and probability of principal recovery. Significant increase or decrease in any of these valuation inputs in isolation would result in a significantly lower or higher fair value measurement. However, due to the nature of certain investments, fair value measurements may be based on other criteria, such as third party inputs. Limited Partnership or Limited Liability Company Interests For recent investments, we evaluate limited partnership or limited liability company interests at cost, which is deemed to represent market value, unless or until there is substantive evidence that cost does not correspond to fair value. Thereafter, these securities are generally valued at our percentage interest of the fund or company's calculated net asset value, unless there is a substantive evidence that the net asset value does not correspond to fair value. All investments of each fund are valued in accordance with ASC 820. Warrants We generally use the Black-Scholes option pricing model to determine the fair value of warrants held in our portfolio. Option pricing models, including the Black-Scholes model, require the use of subjective inputs, including expected volatility, expected life, expected dividend rate, and expected risk-free rate of return. In the Black-Scholes model, variation in the expected volatility or expected term assumptions has a significant impact on fair value. The table below presents the valuation technique and quantitative information about the significant unobservable inputs utilized by the Company to value our Level 3 investments as of September 30, 2012. Unobservable inputs are those inputs for which little or no market data exists and therefore require an entity to develop its own assumptions. The table is not intended to be all inclusive, but instead captures the significant unobservable inputs relevant to our determination of fair value.
*All funds are valued in accordance with ASC 820. As of September 30, 2012 and March 31, 2012, 69.6% and 56.9%, respectively, of our portfolio investments were categorized as Level 3. The following fair value hierarchy tables set forth our investment portfolio by level as of September 30, 2012 and March 31, 2012 (in millions):
The following table provides a summary of changes in the fair value of investments measured using Level 3 inputs during the six months ended September 30, 2012 (in millions):
The total unrealized gains included in earnings that related to assets still held at report date for the six months ended September 30, 2012 and 2011 were $54,724,826 and ($36,784,513) 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 |
We operate to qualify as a RIC under Subchapter M of the IRC and have a calendar tax year end of December 31. In order to qualify as a RIC, we must annually distribute at least 90% of our investment company taxable ordinary income, based on our tax year, to our shareholders in a timely manner. Investment company 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 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 amounts 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 quarter ended September 30, 2012 and 2011, CSW 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 CSW, 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 [Abstract] | |||
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." We incur federal taxes on behalf of our shareholders as a result of our election to retain long-term capital gains. We had $553,689 and $498,438 of undistributed long term capital gains, as of September 30, 2012 and March 31, 2012, respectively. |
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The entire disclosure for undistributed net realized gains (losses) on investments. No definition available.
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EMPLOYEE STOCK OPTION PLANS [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
EMPLOYEE STOCK OPTION PLANS |
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. 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. During the quarter ended September 30, 2012, 10,000 options were forfeited, thus leaving 50,950 options outstanding and 70,250 options available for grant under the 2009 Plan. We previously granted stock options under our 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. During the quarter ended September 30, 2012, 10,395 options were forfeited, thus leaving 68,515 options outstanding under the 1999 Plan. 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. Accordingly, for the quarters ended September 30, 2012 and 2011, we recognized compensation expense of $4,264 and $258,573, respectively. Decrease in stock option compensation expense for 2012 versus 2011 is due to forfeitures of unexercised stock options that occurred with the departures of employees during the quarter ended September 30, 2012. As of September 30, 2012, the total remaining unrecognized compensation cost related to non-vested stock options was $1,183,858, which will be amortized over the remaining weighted average service period of approximately 1.7 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 September 30, 2012:
At September 30, 2012, the range of exercise prices and weighted-average remaining contractual life of outstanding options was $76.74 to $152.98 and 1.1 years, respectively. The total number of options exercisable under both the 2009 Plan and the 1999 Plan at September 30, 2012 and 2011, was 68,715 shares with a weighted-average exercise price of $127.14 and 75,840 with a weighted-average exercise price of $116.75, respectively. During the quarter ended September 30, 2012, 20,395 options were forfeited. There were 1,500 options exercised and new shares issued for $98,550 in cash during the quarter ended September 30, 2011. Stock Awards On January 15, 2012, our Board of Directors approved the issuance of 47,000 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 on 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 available for issuance as of September 30, 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 quarter ended September 30, 2012, we recognized total share based compensation expense of $11,077 related to the restricted stock issued to our employees and officers. For the quarter ended September 30, 2011, no restricted stock had been issued. As of September 30, 2012, the total remaining unrecognized compensation cost related to non-vested restricted stock awards was $472,549, which will be amortized over the weighted-average service period of approximately 4.3 years. The following table represents a summary of the activity for our restricted stock awards for the fiscal year ended September 30, 2012:
Phantom Stock Plan On January 16, 2012, our Board of Directors approved the issuance of 26,000 phantom stock options to certain key employees pursuant to the Capital Southwest Corporation Phantom Stock Option Plan to provide deferred compensation to certain key employees. 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. 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 September 30, 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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COMMITMENTS
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COMMITMENTS [Abstract] | |||
COMMITMENTS |
From time to time the Company may be liable for claims against its portfolio companies. We do not believe the effects of such claims would have a material impact on our results of operations and financial condition. CSW has agreed, subject to certain conditions, to invest up to $10,138,169 in nine portfolio companies as of September 30, 2012. |
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The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SUMMARY OF PER SHARE INFORMATION
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SUMMARY OF PER SHARE INFORMATION [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SUMMARY OF PER SHARE INFORMATION |
The following presents a summary of per share data for the three and six months ended September 30, 2012 and 2011.
*Reflects impact of the different share amounts as a result of issuance or forfeiture of restricted stock during the period. |
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The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | |
Fair Value Measurements | Fair Value Measurements We adopted FASB ASC 820 on April 1, 2008. ASC 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 Topic 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 Topic 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 does not eliminate practicability exceptions that exist in accounting pronouncements amended by this Topic 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 at the end of our fiscal year. Our Board of Directors retained Duff & Phelps to provide limited scope third party valuation services on six investments comprising 85.8% of our net asset value at March 31, 2012. For full disclosure of Duff & Phelps' services, see page 5 of the Form 10-K under the heading "Determination of Net Asset Value and Portfolio Valuation Process." We believe our investments at September 30, 2012 and March 31, 2012 approximate fair value based on the market in which we operate and other conditions in existence as of these dates. |
Investments | 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 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 | 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 | 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 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 | Federal Income Taxes CSW 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 company taxable income, as defined by the IRC, each year. Investment 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. |
Stock-Based Compensation | 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 awards granted to employees prior to April 1, 2006 that remain unvested. 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 | 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 | 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. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In May 2011, the FASB issued Accounting Standards Update ("ASU") 2011-04, Fair Value Measurements (ASC 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. The adoption of ASU 2011-04 did not have a significant impact on our financial condition and results of operations. See Note 3 Investment for further information regarding valuation techniques and quantitative information about the significant unobservable inputs utilized by our Company to value Level 3 investments. |
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The accounting policy for interest and dividend income. No definition available.
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Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for credit risk. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for fair value measurements, which may include, but is not limited to, how an entity that manages a group of financial assets and liabilities on the basis of its net exposure measures the fair value of those assets and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for investments in financial assets, including marketable securities (debt and equity securities with readily determinable fair values), investments accounted for under the equity method and cost method, securities borrowed and loaned, and repurchase and resale agreements. For marketable securities, the disclosure may include the entity's accounting treatment for transfers between investment categories and how the fair values for such securities are determined. Also, for all investments, an entity may describe its policy for assessing, recognizing and measuring impairment of the investment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of the adoption of new accounting pronouncements that may impact the entity's financial reporting. No definition available.
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Disclosure of accounting policy for pension plans. This accounting policy may address (1) the types of plans sponsored by the entity (2) groups that participate in (or are covered by) each plan (3) how plan assets, liabilities and expenses are measured, including the use of any actuaries and (4) significant assumptions used by the entity to value plan assets and liabilities and how such assumptions are derived. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for segment reporting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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INVESTMENTS (Tables)
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INVESTMENTS [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Valuation technique and qualitative information | The table below presents the valuation technique and quantitative information about the significant unobservable inputs utilized by the Company to value our Level 3 investments as of September 30, 2012. Unobservable inputs are those inputs for which little or no market data exists and therefore require an entity to develop its own assumptions. The table is not intended to be all inclusive, but instead captures the significant unobservable inputs relevant to our determination of fair value.
*All funds are valued in accordance with ASC 820. |
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Investment portfolio | The following fair value hierarchy tables set forth our investment portfolio by level as of September 30, 2012 and March 31, 2012 (in millions):
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Changes in the fair value of investments | The following table provides a summary of changes in the fair value of investments measured using Level 3 inputs during the six months ended September 30, 2012 (in millions):
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- Definition
Tabular disclosure related to assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a recurring and/or nonrecurring basis in periods after initial recognition. Disclosures include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3) as well as transfers between levels 1 and 2. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
EMPLOYEE STOCK OPTION PLANS (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2012
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EMPLOYEE STOCK OPTION PLANS [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of assumptions used in the valuation of option grants | The following table summarizes the 2009 Plan and the 1999 Plan price per option at grant date using the Black-Scholes pricing model:
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Summary of option activity | The following table summarizes activity in the 2009 Plan and the 1999 Plan as of September 30, 2012:
|
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Restricted stock available for issuance |
|
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Restricted stock awards activity | The following table represents a summary of the activity for our restricted stock awards for the fiscal year ended September 30, 2012:
|
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Phantom stock awards activity | The following table represents a summary of the activity for our phantom stock plan for the fiscal year ended September 30, 2012:
|
X | ||||||||||
- Definition
Tabular disclosure of the change in phantom stock awards. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. No definition available.
|
X | ||||||||||
- Definition
Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tabular disclosure of the change in stock options. No definition available.
|
X | ||||||||||
- Definition
Tabular disclosure of the change in restricted stock units (RSUs). No definition available.
|
SUMMARY OF PER SHARE INFORMATION (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2012
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SUMMARY OF PER SHARE INFORMATION [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of per share data | The following presents a summary of per share data for the three and six months ended September 30, 2012 and 2011.
*Reflects impact of the different share amounts as a result of issuance or forfeiture of restricted stock during the period. |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Tabular disclosure of an entity's basic and diluted earnings per share calculations. No definition available.
|
ORGANIZATION AND BASIS OF PRESENTATION (Details)
|
Sep. 30, 2012
|
---|---|
ORGANIZATION AND BASIS OF PRESENTATION [Abstract] | |
Percentage of voting securities, minimum, Control Investments (in hundredths) | 25.00% |
Percentage of board representation, minimum, Control Investments (in hundredths) | 50.00% |
Percentage of voting securities, minimum, Affiliated Investments (in hundredths) | 5.00% |
Percentage of voting securities, maximum, Affiliated Investments (in hundredths) | 25.00% |
X | ||||||||||
- Definition
Minimum percentage of board representation that the entity has the right to maintain to be classified as a Control Investment. No definition available.
|
X | ||||||||||
- Definition
Maximum percentage of voting securities owned by the entity to be classified as an Affiliated Investment. No definition available.
|
X | ||||||||||
- Definition
Minimum percentage of voting securities owned by the entity to be classified as an Affiliated Investment. No definition available.
|
X | ||||||||||
- Definition
Minimum percentage of voting securities owned by the entity to be classified as a Control Investment. No definition available.
|
X | ||||||||||
- Details
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)
|
6 Months Ended | |
---|---|---|
Sep. 30, 2012
|
Mar. 31, 2012
|
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ||
Number of investments provided by third party valuation services | 6 | |
Net asset value percentage of investment provided by third party valuation services (in hundredths) | 85.80% | |
Annual minimum distribution (in hundredths) | 90.00% | |
Distributed net capital gains (in dollars per share) | $ 17.59 | |
Corporate tax rate (in hundredths) | 35.00% |
X | ||||||||||
- Definition
Refers to distributed net capital gains. No definition available.
|
X | ||||||||||
- Definition
The percentage of net asset value of investments provided valuation services by a third party. No definition available.
|
X | ||||||||||
- Definition
The number of investments provided by third party valuation services. No definition available.
|
X | ||||||||||
- Definition
The minimum percentage of taxable income to be distributed to shareholders for the company to comply as regulated investment company. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The domestic federal statutory tax rate applicable under enacted tax laws to the Company's pretax income from continuing operations for the period. The "statutory" tax rate is the regular tax rate if there are alternative tax systems. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt. No definition available.
|
X | ||||||||||
- Definition
This item represents the fair value of investment securities as of the balance sheet date which may include marketable securities, derivative financial instruments, and investments accounted for under the equity method. The fair value amount was valued by the entity using significant unobservable inputs (Level 3). No definition available.
|
X | ||||||||||
- Definition
The percentage of investments categorized as Level 3. No definition available.
|
X | ||||||||||
- Definition
Unobservable input as a multiple. No definition available.
|
X | ||||||||||
- Definition
Unobservable input as a weighted average multiple. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
This item represents the amount of the total change in unrealized (holding) gains or losses for the period which are included in the statement of income (or changes in net assets) in trading revenues. Such unrealized (holding) gains or losses relate to those assets still held at the reporting date for which fair value is measured on a recurring basis using significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of gain (loss) recognized in earnings, arising from assets measured at fair value on a recurring basis using unobservable inputs (level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of gain (loss) recognized in other comprehensive income, arising from assets measured at fair value on a recurring basis using unobservable inputs (level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Purchases that have taken place during the period in relation to assets measured at fair value and categorized within Level 3 of the fair value hierarchy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sales that have taken place during the period in relation to assets measured at fair value and categorized within Level 3 of the fair value hierarchy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents an asset measured at fair value using significant unobservable inputs (Level 3) which is required for reconciliation purposes of beginning and ending balances. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents investment securities as of the balance sheet date which may include marketable securities, derivative financial instruments, and investments accounted for under the equity method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Price of a single share of a number of saleable stocks of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
INCOME TAXES (Details) (USD $)
|
6 Months Ended | 9 Months Ended | |
---|---|---|---|
Sep. 30, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
INCOME TAXES [Abstract] | |||
Annual distribution minimum (in hundredths) | 90.00% | ||
Ordinary dividends declared and paid | $ 3,003,030 | $ 2,993,623 | |
Federal excise tax (in hundredths) | 4.00% | ||
Minimum distribution to avoid excise tax (in hundredths) | 98.00% | ||
Investment company ordinary taxable income, Maximum (in hundredths) | 100.00% | 100.00% | |
Federal tax rate (in hundredths) | 35.00% | ||
Net long term unrealized capital gains, tax basis | 3,568,376 | 70,221,589 | |
Net long-term capital gains, book basis | 4,465,088 | 70,325,930 | |
Reduction in the gain on the sale of a business | 4,217,985 | ||
Long term capital gains federal taxes | $ 1,248,932 | $ 24,577,557 | |
Period expected to maintain regulated investment company status | longer than one year |
X | ||||||||||
- Definition
The federal exercise tax rate. No definition available.
|
X | ||||||||||
- Definition
The percentage of investment income company ordinary income distributed during the period. No definition available.
|
X | ||||||||||
- Definition
The federal tax incurred during the period relating to long term capital gains from investments during the period. No definition available.
|
X | ||||||||||
- Definition
Minimum percentage of the investment company ordinary taxable income that the entity needs to distribute before the end of the tax year to avoid paying the federal excise tax.. No definition available.
|
X | ||||||||||
- Definition
The period when the entity expects to maintain regulated investment company status. No definition available.
|
X | ||||||||||
- Definition
The reduction on the gain on the sale of investment. No definition available.
|
X | ||||||||||
- Definition
The minimum percentage of taxable income to be distributed to shareholders for the company to comply as regulated investment company. No definition available.
|
X | ||||||||||
- Definition
Equity impact of common stock cash dividends declared by an entity during the period. This element includes paid and unpaid dividends declared during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The domestic federal statutory tax rate applicable under enacted tax laws to the Company's pretax income from continuing operations for the period. The "statutory" tax rate is the regular tax rate if there are alternative tax systems. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
This element represents the net excess or deficiency of the fair value of an investment (security, contract) over or under its cost (face amount, notional amount), respectively, which excess value or deficiency has not been recognized in earnings of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net unrealized appreciation or depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
UNDISTRIBUTED NET REALIZED GAINS (LOSSES) ON INVESTMENTS (Details) (USD $)
|
Sep. 30, 2012
|
Mar. 31, 2012
|
---|---|---|
UNDISTRIBUTED NET REALIZED GAINS (LOSSES) ON INVESTMENTS [Abstract] | ||
Undistributed long term capital gains | $ 553,689 | $ 498,438 |
X | ||||||||||
- Definition
The accumulated net realized gain (loss) from investments during the period. No definition available.
|
X | ||||||||||
- Details
|
EMPLOYEE STOCK OPTION PLANS (Details) (USD $)
|
3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 0 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2011
|
Sep. 30, 2012
|
Sep. 30, 2012
Range 76.74 to 152.98 [Member]
|
Sep. 30, 2012
Stock Options [Member]
|
Sep. 30, 2011
Stock Options [Member]
|
Sep. 30, 2012
Stock Options [Member]
|
Sep. 30, 2012
Restricted Stock [Member]
|
Sep. 30, 2012
Restricted Stock [Member]
|
Mar. 31, 2012
Restricted Stock [Member]
|
Jan. 15, 2012
Restricted Stock [Member]
|
Sep. 30, 2012
Phantom Stock Awards [Member]
|
Mar. 31, 2012
Phantom Stock Awards [Member]
|
Jan. 16, 2012
Phantom Stock Awards [Member]
|
Jul. 30, 2008
1999 Plan [Member]
Stock Options [Member]
|
Jul. 21, 2008
1999 Plan [Member]
Stock Options [Member]
|
Jul. 16, 2007
1999 Plan [Member]
Stock Options [Member]
|
Jul. 17, 2006
1999 Plan [Member]
Stock Options [Member]
|
May 15, 2006
1999 Plan [Member]
Stock Options [Member]
|
Sep. 30, 2012
1999 Plan [Member]
Stock Options [Member]
|
Sep. 30, 2012
1999 Plan [Member]
Stock Options [Member]
|
Mar. 31, 2012
1999 Plan [Member]
Stock Options [Member]
|
Sep. 30, 2012
1999 Plan [Member]
Stock Options [Member]
Minimum [Member]
|
Sep. 30, 2012
1999 Plan [Member]
Stock Options [Member]
Maximum [Member]
|
Jul. 18, 2011
2009 Plan [Member]
|
Jul. 19, 2010
2009 Plan [Member]
|
Mar. 22, 2010
2009 Plan [Member]
|
Oct. 19, 2009
2009 Plan [Member]
|
Jul. 18, 2011
2009 Plan [Member]
Stock Options [Member]
|
Jul. 19, 2010
2009 Plan [Member]
Stock Options [Member]
|
Mar. 22, 2010
2009 Plan [Member]
Stock Options [Member]
|
Oct. 19, 2009
2009 Plan [Member]
Stock Options [Member]
|
Sep. 30, 2012
2009 Plan [Member]
Stock Options [Member]
|
Sep. 30, 2012
2009 Plan [Member]
Stock Options [Member]
|
Mar. 31, 2012
2009 Plan [Member]
Stock Options [Member]
|
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||||||||||||||||
Number of shares authorized (in shares) | 47,000 | 26,000 | 140,000 | 140,000 | ||||||||||||||||||||||||||||||
Options available for grant (in shares) | 40,350 | 40,350 | 37,350 | 70,250 | 70,250 | |||||||||||||||||||||||||||||
Expiration period from date of grant | 10 years | 10 years | ||||||||||||||||||||||||||||||||
Number of annual installments on exercise of awards | 5 | 10 | 5 | |||||||||||||||||||||||||||||||
Compensation expense | $ 4,264 | $ 258,573 | $ 11,077 | |||||||||||||||||||||||||||||||
Unrecognized compensation cost | 1,183,858 | 1,183,858 | ||||||||||||||||||||||||||||||||
Weighted average service period | 1 year 8 months 12 days | 4 years 3 months 18 days | ||||||||||||||||||||||||||||||||
Options fair value assumptions [Abstract] | ||||||||||||||||||||||||||||||||||
Weighted average fair value (in dollars per share) | $ 29.93 | $ 27.35 | $ 41.78 | $ 33.05 | $ 31.28 | $ 33.07 | $ 28.58 | $ 32.56 | $ 25.36 | |||||||||||||||||||||||||
Expected dividend yield (in hundredths) | 0.62% | 0.67% | 0.39% | 0.61% | 0.64% | 0.83% | 0.91% | 0.84% | 1.04% | |||||||||||||||||||||||||
Risk free interest rate (in hundredths) | 3.36% | 3.41% | 4.95% | 5.04% | 5.08% | 1.45% | 1.73% | 2.43% | 2.36% | |||||||||||||||||||||||||
Expected volatility (in hundredths) | 20.20% | 20.20% | 19.90% | 21.20% | 21.10% | 40.00% | 37.50% | 37.80% | 37.60% | |||||||||||||||||||||||||
Expected life (in years) | 5 years | 5 years | 5 years | 7 years | 7 years | 5 years | 5 years | 5 years | 5 years | |||||||||||||||||||||||||
Stock options [Roll Forward] | ||||||||||||||||||||||||||||||||||
Balance at beginning of period (in shares) | 95,000 | 96,500 | 83,750 | 73,750 | ||||||||||||||||||||||||||||||
Granted (in shares) | 0 | 0 | 10,000 | 15,000 | 20,000 | 38,750 | 0 | 10,000 | ||||||||||||||||||||||||||
Exercised (in shares) | (1,500) | (16,090) | (1,500) | (18,800) | 0 | |||||||||||||||||||||||||||||
Canceled (in shares) | (10,395) | (10,395) | 0 | (10,000) | (14,000) | 0 | ||||||||||||||||||||||||||||
Balance at end of period (in shares) | 119,465 | 119,465 | 68,515 | 68,515 | 95,000 | 50,950 | 50,950 | 83,750 | ||||||||||||||||||||||||||
Weighted Average Exercise Price [Roll Forward] | ||||||||||||||||||||||||||||||||||
Beginning of Period (in dollars per share) | $ 113.63 | $ 114.78 | $ 85.75 | $ 84.24 | ||||||||||||||||||||||||||||||
Granted (in dollars per share) | $ 0 | $ 0 | $ 96.92 | $ 88.2 | $ 95.79 | $ 76.74 | $ 0 | $ 96.92 | ||||||||||||||||||||||||||
Exercised (in dollars per share) | $ 95.36 | $ 65.70 | $ 78.87 | $ 0 | ||||||||||||||||||||||||||||||
Cancelled (in dollars per share) | $ 108.23 | $ 0 | $ 95.35 | $ 0 | ||||||||||||||||||||||||||||||
Balance at end of period (in dollars per share) | $ 111.98 | $ 111.98 | $ 129.61 | $ 129.61 | $ 113.63 | $ 88.28 | $ 88.28 | $ 85.75 | ||||||||||||||||||||||||||
Weighted average remaining contractual term, outstanding | 1 year 8 months 12 days | |||||||||||||||||||||||||||||||||
Weighted average remaining contractual term, exercisable | 1 year 1 month 6 days | |||||||||||||||||||||||||||||||||
Aggregate intrinsic value, outstanding | 3,702,185 | |||||||||||||||||||||||||||||||||
Aggregate intrinsic value, exercisable | 2,303,485 | |||||||||||||||||||||||||||||||||
Stock Awards [Abstract] | ||||||||||||||||||||||||||||||||||
Award vesting period | 5 years | |||||||||||||||||||||||||||||||||
Restricted stock available for issuance beginning balance (in shares) | 37,350 | |||||||||||||||||||||||||||||||||
Less restricted stock forfeited during the year | 3,000 | |||||||||||||||||||||||||||||||||
Restricted stock available for issuance ending balance (in shares) | 40,350 | 40,350 | 37,350 | 70,250 | 70,250 | |||||||||||||||||||||||||||||
Unrecognized compensation cost | 472,549 | 472,549 | ||||||||||||||||||||||||||||||||
Number of shares | ||||||||||||||||||||||||||||||||||
Number of shares unvested beginning (in shares) | 9,650 | 26,000 | ||||||||||||||||||||||||||||||||
Number of shares granted (in shares) | 0 | 0 | ||||||||||||||||||||||||||||||||
Number of shares vested (in shares) | 0 | 0 | ||||||||||||||||||||||||||||||||
Number of shares forfeited or expired (in shares) | 3,000 | 7,500 | ||||||||||||||||||||||||||||||||
Number of shares unvested ending (in shares) | 6,650 | 6,650 | 9,650 | 18,500 | 26,000 | |||||||||||||||||||||||||||||
Weighted Average Fair Value Per Share | ||||||||||||||||||||||||||||||||||
Weighted Average, Unvested Beginning (in dollars per share) | $ 83.60 | $ 146.95 | ||||||||||||||||||||||||||||||||
Weighted Average, granted (in dollars per share) | $ 0 | $ 0 | ||||||||||||||||||||||||||||||||
Weighted Average, vested (in dollars per share) | $ 0 | $ 0 | ||||||||||||||||||||||||||||||||
Weighted Average, forfeited or expired (in dollars per share) | $ 83.60 | $ 146.95 | ||||||||||||||||||||||||||||||||
Weighted Average, Unvested Ending (in dollars per share) | $ 83.60 | $ 83.60 | $ 83.60 | $ 146.95 | $ 146.95 | |||||||||||||||||||||||||||||
Weighted Average Remaining Vesting Term (in Years) [Abstract] | ||||||||||||||||||||||||||||||||||
Weighted Average Remaining Vesting Term Unvested Beginning | 4 years 3 months 18 days | 4 years 9 months 18 days | 4 years 3 months 18 days | 4 years 9 months 18 days | ||||||||||||||||||||||||||||||
Weighted Average Remaining Vesting Term , granted | 0 years | 0 years | ||||||||||||||||||||||||||||||||
Weighted Average Remaining Vesting Term, vested | 0 years | 0 years | ||||||||||||||||||||||||||||||||
Weighted Average Remaining Vesting Term, Forfeited or expired | 0 years | 0 years | ||||||||||||||||||||||||||||||||
Weighted Average Remaining Vesting Term, Unvested Ending | 4 years 3 months 18 days | 4 years 9 months 18 days | 4 years 3 months 18 days | 4 years 9 months 18 days | ||||||||||||||||||||||||||||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||||||||||||||||||||||||||||||||
Exercise price range, lower range limit (in dollars per share) | $ 76.74 | |||||||||||||||||||||||||||||||||
Exercise price range, upper range limit (in dollars per share) | $ 152.98 | |||||||||||||||||||||||||||||||||
Options exercisable (in shares) | 75,840 | 68,715 | ||||||||||||||||||||||||||||||||
Weighted average exercise price (in dollars per share) | $ 116.75 | $ 127.14 | ||||||||||||||||||||||||||||||||
New shares issued for cash | $ 98,550 |
X | ||||||||||
- Definition
The period of time over which the share based awards are set to expire from the date of grant. No definition available.
|
X | ||||||||||
- Definition
The number of annual installments on exercisable awards on or after the first anniversary of the date of grant. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Weighted average remaining contractual term for equity-based awards excluding options, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
X | ||||||||||
- Definition
Weighted average remaining contractual term for equity-based awards excluding options, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Weighted average remaining contractual term for equity-based awards excluding options, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
X | ||||||||||
- Definition
Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate unrecognized cost of share-based awards, other than options, made to employees under an equity-based compensation plan, that have yet to vest. No definition available.
|
X | ||||||||||
- Definition
Aggregate unrecognized cost of option awards made to employees under a stock option plan or plans, that have yet to vest. No definition available.
|
X | ||||||||||
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Weighted average remaining contractual term for equity-based awards excluding options, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Expected term of share-based compensation awards, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For presentations that combine terminations, the number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan or that expired. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average price of options that were either forfeited or expired. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gross number of share options (or share units) granted during the period. No definition available.
|
X | ||||||||||
- Definition
The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of options outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares reserved for issuance under stock option agreements awarded under the plan that validly exist and are outstanding as of the balance sheet date, including vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average price at which option holders acquired shares when converting their stock options into shares. No definition available.
|
X | ||||||||||
- Definition
Weighted average price at which grantees can acquire the shares reserved for issuance on stock options awarded. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The floor of a customized range of exercise prices for purposes of disclosing shares potentially issuable under outstanding stock option awards on all stock option plans and other required information pertaining to awards in the customized range. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The ceiling of a customized range of exercise prices for purposes of disclosing shares potentially issuable under outstanding stock option awards on all stock option plans and other required information pertaining to awards in the customized range. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of shares related to Restricted Stock Award forfeited during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Value of stock issued as consideration for cash. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
COMMITMENTS (Details) (USD $)
|
Sep. 30, 2012
|
---|---|
COMMITMENTS [Abstract] | |
Investment in portfolio companies, at maximum | $ 10,138,169 |
Number of portfolio companies, at maximum | 9 |
X | ||||||||||
- Definition
The maximum amount the entity has agreed to invest in portfolio companies. No definition available.
|
X | ||||||||||
- Definition
The maximum number of portfolio companies the entity has agreed to invest in, subject to certain conditions. No definition available.
|
X | ||||||||||
- Details
|
SUMMARY OF PER SHARE INFORMATION (Details) (USD $)
|
3 Months Ended | 6 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
Sep. 30, 2011
|
|||||||
SUMMARY OF PER SHARE INFORMATION [Abstract] | ||||||||||
Investment income (in dollars per share) | $ 0.35 | $ 0.34 | $ 0.74 | $ 0.65 | ||||||
Operating expenses (in dollars per share) | $ (0.37) | $ (0.32) | $ (0.75) | $ (0.63) | ||||||
Income taxes (in dollars per share) | $ (0.01) | $ (0.01) | $ (0.01) | $ (0.01) | ||||||
Net investment income (in dollars per share) | $ (0.03) | $ 0.01 | $ (0.02) | $ 0.01 | ||||||
Distributions from undistributed net investment income (in dollars per share) | $ 0 | $ 0 | $ (18) | $ (0.4) | ||||||
Net realized gain net of tax (in dollars per share) | $ 0 | $ 4.88 | $ 17.62 | $ 3.31 | ||||||
Net increase (decrease) in unrealized appreciation of investments (in dollars per share) | $ 13.26 | $ (11.74) | $ (7.43) | $ (12.95) | ||||||
Exercise of employee stock options (in dollars per share) | $ 0 | $ (0.03) | $ (0.74) | $ (0.03) | ||||||
Stock option expense (in dollars per share) | $ 0 | $ 0.07 | $ 0.08 | $ 0.13 | ||||||
Other (in dollars per share) | $ (0.31) | [1] | $ 0 | [1] | $ (0.31) | [1] | $ 0 | [1] | ||
Increase (decrease) in net asset value (in dollars per share) | $ 12.92 | $ (6.81) | $ (8.8) | $ (9.93) | ||||||
Net asset value, Beginning of period (in dollars per share) | $ 145.73 | $ 140.56 | $ 167.45 | $ 143.68 | ||||||
Net asset value, End of period (in dollars per share) | $ 158.65 | $ 133.75 | $ 158.65 | $ 133.75 | ||||||
|
X | ||||||||||
- Definition
Common stock purchased at the price set by the option (grant price), divided by shares outstanding. No definition available.
|
X | ||||||||||
- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest divided by shares outstanding. No definition available.
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the aggregate amount of net assets from operations divided by shares outstanding. No definition available.
|
X | ||||||||||
- Definition
Income from dividends, interest, and net realized short-term gains, adjusted for management fees and administrative expenses and divided by shares outstanding. No definition available.
|
X | ||||||||||
- Definition
Net asset value per share as of the balance sheet date. No definition available.
|
X | ||||||||||
- 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 divided by shares outstanding. No definition available.
|
X | ||||||||||
- Definition
Income from dividends, interest, and net realized short-term gains, adjusted for management fees and administrative expenses and divided by shares outstanding. No definition available.
|
X | ||||||||||
- Definition
This item represents the gain (loss) realized during the period from the sale of investments net of tax and divided by shares outstanding. No definition available.
|
X | ||||||||||
- Definition
Generally recurring costs (per share) 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.
|
X | ||||||||||
- Definition
This element represents a sum total of expenses not separately reflected on the income statement for the period divided by shares outstanding. No definition available.
|
X | ||||||||||
- Definition
The noncash expense that accounts for the value of stock or unit options distributed to employees as compensation divided by shares outstanding. No definition available.
|
X | ||||||||||
- Definition
Undistributed net investment income during the reporting period and divided by shares outstanding. No definition available.
|
X | ||||||||||
- Details
|