Investments

6 Months Ended

Oct. 26, 2019

Investments, Debt and Equity Securities [Abstract]

Investments

Investments

We have current and long-term investments intended to enhance returns on our cash as well as to fund future obligations of our non-qualified defined benefit retirement plan, our executive deferred compensation plan, and our performance compensation retirement plan. We also hold other investments consisting of cost-basis preferred shares of two privately-held companies. Our short-term investments are included in other current assets and our long-term investments are included in other long-term assets on our consolidated balance sheet.

The following summarizes our investments:

(Unaudited, amounts in thousands)	10/26/19		4/27/19
Short-term investments:
Marketable securities	$	19,703	$	18,016
Held-to-maturity investments	3,570		3,341
Total short-term investments	23,273		21,357
Long-term investments:
Marketable securities	23,758		24,085
Cost basis investments	12,479		11,979
Total long-term investments	36,237		36,064
Total investments	$	59,510	$	57,421
Investments to enhance returns on cash	$	33,187	$	31,470
Investments to fund compensation/retirement plans	13,844		13,972
Other investments	12,479		11,979
Total investments	$	59,510	$	57,421

The following is a summary of the unrealized gains, unrealized losses, and fair value by investment type:

	10/26/19							4/27/19
(Unaudited, amounts in thousands)	Gross Unrealized  Gains		Gross Unrealized  Losses			Fair Value		Gross Unrealized  Gains		Gross Unrealized  Losses			Fair Value
Equity securities	$	1,939	$	—		$	20,018	$	1,841	$	—		$	19,535
Fixed income	186		(17		)	34,477		75		(111		)	33,217
Other	376		—			5,015		258		(13		)	4,669
Total securities	$	2,501	$	(17	)	$	59,510	$	2,174	$	(124	)	$	57,421

The following table summarizes sales of marketable securities:

	Quarter Ended						Six Months Ended
(Unaudited, amounts in thousands)	10/26/19			10/27/18			10/26/19			10/27/18
Proceeds from sales	$	8,310		$	2,992		$	12,370		$	7,754
Gross realized gains	181			10			187			85
Gross realized losses	(86		)	(11		)	(88		)	(66		)

The following is a summary of the fair value of fixed income marketable securities, classified as available-for-sale securities, by contractual maturity:

(Unaudited, amounts in thousands)	10/26/19
Within one year	$	19,860
Within two to five years	12,181
Within six to ten years	1,696
Thereafter	740
Total	$	34,477