Investments

6 Months Ended

Oct. 24, 2020

Investments, Debt and Equity Securities [Abstract]

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)	10/24/20		4/25/20
Short-term investments:
Marketable securities	$	15,905	$	18,634
Held-to-maturity investments	2,531		3,337
Total short-term investments	18,436		21,971
Long-term investments:
Marketable securities	24,373		19,572
Cost basis investments	7,579		6,479
Total long-term investments	31,952		26,051
Total investments	$	50,388	$	48,022

Investments to enhance returns on cash	$	27,224	$	28,622
Investments to fund compensation/retirement plans	15,585		12,921
Other investments	7,579		6,479
Total investments	$	50,388	$	48,022

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


	10/24/20						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	$	1,873	$	—	$	16,224	$	1,011	$	(6,390)	$	12,692
Fixed income	206		(25)		29,735		268		(56)		30,213
Other	452		—		4,429		372		—		5,117
Total securities	$	2,531	$	(25)	$	50,388	$	1,651	$	(6,446)	$	48,022

The following table summarizes sales of marketable securities:


	Quarter Ended				Six Months Ended
(Unaudited, amounts in thousands)	10/24/20		10/26/19		10/24/20		10/26/19
Proceeds from sales	$	3,292	$	8,310	$	17,017	$	12,370
Gross realized gains	184		181		310		187
Gross realized losses	(8)		(86)		(26)		(88)

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)	10/24/20
Within one year	$	14,425
Within two to five years	12,340
Within six to ten years	1,149
Thereafter	1,821
Total	$	29,735