Investments

9 Months Ended

Jan. 23, 2021

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)	1/23/21		4/25/20
Short-term investments:
Marketable securities	$	17,586	$	18,634
Held-to-maturity investments	2,643		3,337
Total short-term investments	20,229		21,971
Long-term investments:
Marketable securities	25,243		19,572
Cost basis investments	7,579		6,479
Total long-term investments	32,822		26,051
Total investments	$	53,051	$	48,022

Investments to enhance returns on cash	$	30,553	$	28,622
Investments to fund compensation/retirement plans	14,919		12,921
Other investments	7,579		6,479
Total investments	$	53,051	$	48,022

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


	1/23/21						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	$	2,671	$	—	$	15,492	$	1,011	$	(6,390)	$	12,692
Fixed income	182		(19)		32,932		268		(56)		30,213
Other	604		—		4,627		372		—		5,117
Total securities	$	3,457	$	(19)	$	53,051	$	1,651	$	(6,446)	$	48,022

The following table summarizes sales of marketable securities:


	Quarter Ended				Nine Months Ended
(Unaudited, amounts in thousands)	1/23/21		1/25/20		1/23/21		1/25/20
Proceeds from sales	$	6,807	$	11,517	$	23,824	$	23,887
Gross realized gains	169		431		479		618
Gross realized losses	(15)		(62)		(41)		(150)

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)	1/23/21
Within one year	$	17,678
Within two to five years	12,472
Within six to ten years	1,114
Thereafter	1,668
Total	$	32,932