Note 5: Investments

In our consolidated balance sheet at October 25, 2014, we included $20.3 million of available-for-sale investments and $0.5 million of trading securities in other current assets and $39.1 million of available-for-sale investments in other long-term assets. In our consolidated balance sheet at April 26, 2014, we included available-for-sale investments of $15.9 million and trading securities of $1.8 million in other current assets and available-for-sale investments of $43.2 million in other long-term assets. At October 25, 2014, and April 26, 2014, $45.2 million and $44.7 million, respectively, of these investments were to enhance returns on our cash. We designated the remaining investments 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, we would recognize the amount of decline below cost as part of our earnings.

The following is a summary of investments at October 25, 2014, and April 26, 2014:

As of October 25, 2014

(Unaudited, amounts in thousands)	Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Equity securities	$	1,436	$	(102	)	$	8,410
Fixed income	194		(45		)	50,802
Mutual funds	—		—			493
Other	1		(18		)	208
Total securities	$	1,631	$	(165	)	$	59,913

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						Six Months Ended
(Unaudited, amounts in thousands)	10/25/14			10/26/13			10/25/14			10/26/13
Proceeds from sales	$	7,405		$	9,636		$	17,827		$	18,196
Gross realized gains	31			32			45			45
Gross realized losses	(22		)	(29		)	(30		)	(65		)

The fair value of fixed income available-for-sale securities by contractual maturity was $20.3 million within one year, $28.2 million within two to five years, $1.9 million within six to ten years and $0.4 million thereafter.