Investments In Available-For-Sale Securities

9 Months Ended

Jan. 31, 2013

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, 2013 and April 30, 2012 are summarized below:

																(in 000s)
As of		January 31, 2013								April 30, 2012
				Gross		Gross						Gross		Gross
		Amortized		Unrealized		Unrealized		Fair		Amortized		Unrealized		Unrealized		Fair
		Cost		Gains		Losses (1)		Value		Cost		Gains		Losses (1)		Value
Short-term:
Municipal bonds	$	1,000	$	1	$	-	$	1,001	$	1,008	$	29	$	-	$	1,037
Long-term:
Mortgage-backed
securities		386,741		5,825		(780)		391,786		361,184		5,620		(121)		366,683
Municipal bonds		4,192		334		-		4,526		4,236		396		-		4,632
		390,933		6,159		(780)		396,312		365,420		6,016		(121)		371,315
Total	$	391,933	$	6,160	$	(780)	$	397,313	$	366,428	$	6,045	$	(121)	$	372,352

⁽¹⁾At January 31, 2013,  we had no securities that had been in a continuous loss position for more than twelve months. At April 30, 2012, mortgage-backed securities with a cost of $8.1 million and gross unrealized losses of $21 thousand had been in a continuous loss position for more than twelve months.

During the nine months ended January 31, 2013, we received proceeds from the sale of AFS securities of $5.2 million, and recorded a gross realized gain of $0.2 million on this sale. We had no sales of AFS securities during the nine months ended January 31, 2012.

Contractual maturities of AFS debt securities at January 31, 2013, 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	$	1,000	$	1,001
Two to five years		4,192		4,526
More than five years		386,741		391,786
	$	391,933	$	397,313