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Debt
9 Months Ended
Dec. 31, 2011
Debt [Abstract]  
Debt
Note 11 - Debt

On June 30, 2011, the Company amended the credit facility with Comerica Bank and other lenders. Under the amendment, the Company exercised its right to increase the revolving line of credit from $150 million to $200 million. The amendment reduced the amount the Company can increase the revolving line of credit to an additional $100 million (previously $150 million) subject to receiving further commitments from lenders and certain other conditions.

On July 1, 2011, Compuware borrowed $129.5 million under the credit facility to partially fund the acquisition of dynaTrace (see note 2).

As of December 31, 2011, the Company's debt balance under its unsecured revolving credit agreement (the “credit facility”) was $110.0 million. As the credit facility expires on November 1, 2012, the full balance is classified as short term as of December 31, 2011. The Company had no short term or long term debt at March 31, 2011.

The credit facility contains various covenant requirements, including limitations on liens; indebtedness; mergers, consolidations and acquisitions; asset sales; dividends; investments, loans and advances from the Company; transactions with affiliates; and limits additional borrowing outside of the facility to $250 million. The credit facility is also subject to maximum total debt to EBITDA and minimum fixed charge coverage financial covenants. The Company was in compliance with the covenants under the credit facility at December 31, 2011.

Any borrowings under the credit facility bear interest at the base rate (the greatest of the prime rate, the federal funds effective rate plus one percent, or the daily LIBOR rate plus one percent) or the Eurodollar rate, at the Company's option, plus the applicable margin (which is based on the level of maximum total debt to EBITDA ratio). As of December 31, 2011, interest rates on outstanding borrowings were at a weighted average rate of 1.8%. The Company pays a quarterly fee on the credit facility based on the applicable margin grid. Interest and fees related to the credit facility were $1.4 million during the nine months ended December 31, 2011.

Cash paid for interest during the third quarter and first nine months of fiscal 2012 was $983,000 and $2.4 million, respectively. Cash paid for interest during the third quarter and first nine months of fiscal 2011 was $413,000 and $1.0 million, respectively.