Fair Value Measurements (Tables)

6 Months Ended

Jul. 31, 2011

Fair Value Measurements (Tables) [Abstract]

Company's financial assets and liabilities and redeemable noncontrolling interests on a recurring basis


	Fair Value Measurements
	at July 31, 2011
	Level 1		Level 2			Level 3			Total
			(in thousands)
Interest rate caps	$	-	$	40		$	-		$	40
Interest rate swap agreements (positive fair value)		-		1,523			-			1,523
Interest rate swap agreements (negative fair value)		-		(7,088	)		(121,459	)		(128,547	)
TRS (positive fair value)		-		-			3,839			3,839
TRS (negative fair value)		-		-			(24,052	)		(24,052	)
Fair value adjustment to the borrowings subject to TRS		-		-			13,571			13,571
Redeemable noncontrolling interest		-		-			(226,936	)		(226,936	)

Total	$	-	$	(5,525	)	$	(355,037	)	$	(360,562	)

Reconciliation of financial assets and liabilities and redeemable noncontrolling interest measured at fair value on a recurring basis using significant unobservable inputs

The table below presents a reconciliation of all financial assets and liabilities and redeemable noncontrolling interest measured at fair value on a recurring basis using significant unobservable inputs (Level 3).


	Fair Value Measurements
	Six Months Ended July 31, 2011
							(in thousands)
										Fair value
	Redeemable									adjustment to
	Noncontrolling			Interest Rate			Net			the borrowings			Total TRS
	Interest			Swaps			TRS			subject to TRS			Related			Total
Balance, February 1, 2011	$	(226,829	)	$	(102,387	)	$	(30,034	)	$	21,938		$	(8,096	)	$	(337,312	)
Total realized and unrealized gains (losses):
Included in earnings		1,879			-			8,918			(7,464	)		1,454			3,333
Included in other comprehensive income		-			(19,072	)		-			-			-			(19,072	)
Included in additional paid-in capital		(1,986	)		-			-			-			-			(1,986	)
Settlement		-			-			903			(903	)		-			-


Balance, July 31, 2011	$	(226,936	)	$	(121,459	)	$	(20,213	)	$	13,571		$	(6,642	)	$	(355,037	)

- Definition

This element represents the disclosure related to the fair value measurement of assets and liabilities which includes [financial] instruments measured at fair value that are classified in stockholders' equity. Such assets and liabilities may be measured on a recurring or nonrecurring basis. The disclosures which may be required or desired include: (1) for assets and liabilities measured on a recurring basis, disclosure may include: (a) the fair value measurements at the reporting date; (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3); (c) for fair value measurements using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), 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); (ii) purchases, sales, issuances, and settlements (net); (iii) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs); (d) the amount of the total gains or losses for the period in subparagraph (c) (i) above included in earnings (or changes in net assets) that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of income (or activities); (e) the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period and (2) for assets and liabilities that are measured at fair value on a nonrecurring basis (for example, impaired assets) disclosure may include, in addition to (a) above: (a) the reasons for the fair value measurements recorded; (b) the same as (b) above; (c) for fair value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop the inputs; and (d) the valuation technique(s) used to measure fair value and a discussion of changes, if any, in the valuation technique(s) used to measure similar assets and/or liabilities in prior periods.

+ References+ Details