Investments

6 Months Ended

Oct. 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 (refer to Note 16, Fair Value Measurements). 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)	10/23/2021		4/24/2021
Short-term investments:
Marketable securities	$	16,512	$	18,037
Held-to-maturity investments	1,371		2,532
Total short-term investments	17,883		20,569
Long-term investments:
Marketable securities	29,079		27,256
Cost basis investments	7,579		7,579
Total long-term investments	36,658		34,835
Total investments	$	54,541	$	55,404

Investments to enhance returns on cash	$	31,029	$	32,475
Investments to fund compensation/retirement plans	15,933		15,350
Other investments	7,579		7,579
Total investments	$	54,541	$	55,404

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


	10/23/2021						4/24/2021
(Unaudited, amounts in thousands)	Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Equity securities	$	3,096	$	(1)	$	15,094	$	2,798	$	(5)	$	14,954
Fixed income	124		(83)		35,057		136		(29)		35,631
Other	1,180		—		4,390		559		—		4,819
Total securities	$	4,400	$	(84)	$	54,541	$	3,493	$	(34)	$	55,404

The following table summarizes sales of marketable securities:


	Quarter Ended				Six Months Ended
(Unaudited, amounts in thousands)	10/23/2021		10/24/2020		10/23/2021		10/24/2020
Proceeds from sales	$	11,938	$	3,292	$	21,653	$	17,017
Gross realized gains	287		184		554		310
Gross realized losses	(325)		(8)		(336)		(26)

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)	10/23/2021
Within one year	$	16,777
Within two to five years	15,668
Within six to ten years	975
Thereafter	1,637
Total	$	35,057