Investments In Available-For-Sale Securities

9 Months Ended

Jan. 31, 2012

Investments In Available-For-Sale Securities [Abstract]

Investments In Available-For-Sale Securities

5. Investments in Available-for-Sale Securities

The amortized cost and fair value of securities classified as available-for-sale (AFS) held at January 31, 2012 and April 30, 2011 are summarized below:

 

								(in 000s)
	January 31, 2012				April 30, 2011
		Gross	Gross			Gross	Gross
	Amortized	Unrealized	Unrealized	Fair	Amortized	Unrealized	Unrealized	Fair
As of	Cost	Gains	Losses (1)	Value	Cost	Gains	Losses (1)	Value
Short-term:
Municipal bonds	$ 2,001	$ 3	$ —	$ 2,004	$ 3,023	$ 58	$ —	$ 3,081
Long-term:
Mortgage-backed securities	303,519	3,243	(287 )	306,475	157,970	401	(194 )	158,177
Municipal bonds	5,260	448	—	5,708	5,312	347	—	5,659
	308,779	3,691	(287 )	312,183	163,282	748	(194 )	163,836
Total	$ 310,780	$ 3,694	$ (287 )	$ 314,187	$ 166,305	$ 806	$ (194 )	$ 166,917

⁽¹⁾ At January 31, 2012 and April 30, 2011, we had no investments that had been in a continuous loss position for more than twelve months.

We did not record any other-than-temporary impairments of AFS securities during the three or nine months ended January 31, 2012. During the three and nine months ended January 31, 2011, we recorded other-than-temporary impairments of AFS securities totaling $1.5 million and $1.9 million, respectively, as a result of an assessment that it was probable we would not collect all amounts due or an assessment that we would not be able to hold the investments until potential recovery of market value.

Contractual maturities of AFS debt securities at January 31, 2012, occur at varying dates over the next 30 years, and are set forth in the table below.

		(in 000s)
	Cost Basis	Fair Value
Maturing in:
Less than one year	$ 2,001	$ 2,004
Two to five years	4,204	4,502
Six to ten years	1,056	1,206
Beyond	303,519	306,475
	$ 310,780	$ 314,187