Investments

3 Months Ended

Jul. 25, 2020

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 start-up 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)	7/25/20		4/25/20
Short-term investments:
Marketable securities	$	9,340	$	18,634
Held-to-maturity investments	2,476		3,337
Total short-term investments	11,816		21,971
Long-term investments:
Marketable securities	18,463		19,572
Cost basis investments	7,579		6,479
Total long-term investments	26,042		26,051
Total investments	$	37,858	$	48,022
Investments to enhance returns on cash	$	16,494	$	28,622
Investments to fund compensation/retirement plans	13,785		12,921
Other investments	7,579		6,479
Total investments	$	37,858	$	48,022

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

	7/25/20							4/25/20
(Unaudited, amounts in thousands)	Gross Unrealized  Gains		Gross Unrealized  Losses			Fair Value		Gross Unrealized  Gains		Gross Unrealized  Losses			Fair Value
Equity securities	$	1,575	$	(19	)	$	14,463	$	1,011	$	(6,390	)	$	12,692
Fixed income	274		(7		)	19,058		268		(56		)	30,213
Other	399		—			4,337		372		—			5,117
Total securities	$	2,248	$	(26	)	$	37,858	$	1,651	$	(6,446	)	$	48,022

The following table summarizes sales of marketable securities:

	Quarter Ended
(Unaudited, amounts in thousands)	7/25/20			7/27/19
Proceeds from sales	$	13,725		$	4,060
Gross realized gains	126			6
Gross realized losses	(18		)	(2		)

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)	7/25/20
Within one year	$	9,366
Within two to five years	6,583
Within six to ten years	1,266
Thereafter	1,843
Total	$	19,058