Note 5: Investments

Our consolidated balance sheet at July 26, 2014, included $16.7 million of available-for-sale investments and $1.0 million of trading securities in other current assets and $43.1 million of available-for-sale investments in other long-term assets. Available-for-sale investments of $15.9 million and trading securities of $1.8 million were included in other current assets, and available-for-sale investments of $43.2 million were included in other long-term assets in our consolidated balance sheet at April 26, 2014. At July 26, 2014, and April 26, 2014, $45.2 million and $44.7 million, respectively, of these investments were to enhance returns on our cash. The remaining investments were designated to fund future obligations of our non-qualified defined benefit retirement plan, our executive deferred compensation plan, and our performance compensation retirement plan. If there were a decline in the fair value of an investment below its cost and the decline was considered other-than-temporary, the amount of decline below cost would be charged against earnings.

The following is a summary of investments at July 26, 2014, and April 26, 2014:

As of July 26, 2014

(Unaudited, amounts in thousands)	Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Equity securities	$	1,565	$	(45	)	$	8,574
Fixed income	181		(40		)	50,925
Mutual funds	—		—			1,017
Other	1		(15		)	254
Total securities	$	1,747	$	(100	)	$	60,770

As of April 26, 2014

(Unaudited, amounts in thousands)	Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Equity securities	$	1,246	$	(52	)	$	8,216
Fixed income	166		(44		)	50,510
Mutual funds	—		—			1,787
Other	1		(10		)	425
Total securities	$	1,413	$	(106	)	$	60,938

The following table summarizes sales of available-for-sale securities:

	Quarter Ended
(Unaudited, amounts in thousands)	7/26/14			7/27/13
Proceeds from sales	$	10,422		$	8,558
Gross realized gains	14			13
Gross realized losses	(8		)	(36		)

The fair value of fixed income available-for-sale securities by contractual maturity was $16.7 million within one year, $31.8 million within two to five years, $1.9 million within six to ten years and $0.5 million thereafter.