Investments (Tables)

9 Months Ended

Jan. 25, 2020

Investments

Schedule of investments

Investments consist of the following (in thousands):

	January 25,		April 30,
	2020		2019
Short-term investments:
Held-to-maturity securities:
Municipal securities	$	7,565	$	5,332
U.S. government securities		45,439		63,205
Corporate bonds		82,298		81,950
Total held-to-maturity investments		135,302		150,487
Available-for-sale securities:
Variable rate demand notes		13,200		—
Total available-for-sale investments		13,200		—
Total short-term investments	$	148,502	$	150,487
Long-term investments:
Held-to-maturity securities:
Municipal securities		15,887		—
U.S. government securities		—		7,404
Corporate bonds		4,558		1,982
Certificates of deposit		1,017		—
Total held-to-maturity investments		21,462		9,386
Available-for-sale securities:
Investment in limited partnership fund		4,947		—
Total available-for-sale investments		4,947		—
Total long-term investments	$	26,409	$	9,386

schedule of amortized cost and fair value of the available-for-sale debt securities by contractual maturity

The amortized cost and fair value of the available-for-sale debt securities by contractual maturity at January 25, 2020 were as follows (in thousands):

	Cost		Fair Value
Due after 20 years	$	13,200	$	13,200
Total	$	13,200	$	13,200

Schedule of activity related to available-for-sale investments recorded in short-term and long-term investments

The following table is a summary of the activity related to the available-for-sale investments recorded in short-term and long-term investments (in thousands):

	April 30, 2019		Changes in				January 25, 2020
	Carrying		Fair Value		Sales or		Carrying
	Value		Reflected in Net Income		Purchases		Value
Variable rate demand notes	$	—	$	—	$	13,200	$	13,200
Investment in limited partnership		—		—		4,947		4,947
Total available-for-sale investments	$	—	$	—	$	18,147	$	18,147

Held to maturity securities

Investments

Schedule of amortized cost, gross unrealized gains, gross unrealized losses, and estimated fair value of held-to-maturity investments

The amortized cost, gross unrealized gains, gross unrealized losses, and estimated fair value of the held-to-maturity investments as of January 25, 2020 were as follows (in thousands):

	January 25, 2020
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
Municipal securities	$	23,452	$	12	$	(4)	$	23,460
U.S. government securities		45,439		63		—		45,502
Corporate bonds		86,856		57		—		86,913
Certificates of deposit		1,017		4		—		1,021
Total held-to-maturity investments	$	156,764	$	136	$	(4)	$	156,896

The amortized cost, gross unrealized gains, gross unrealized losses, and estimated fair value of the held-to-maturity investments as of April 30, 2019 were as follows (in thousands):

	April 30, 2019
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
Municipal securities	$	5,332	$	2	$	(1)	$	5,333
U.S. government securities		70,609		78		(52)		70,635
Corporate bonds		83,932		20		(5)		83,947
Total held-to-maturity investments	$	159,873	$	100	$	(58)	$	159,915

Schedule of amortized cost and fair value by contractual maturity

The amortized cost and fair value of the held-to-maturity securities by contractual maturity at January 25, 2020 were as follows (in thousands):

	Cost		Fair Value
Due within one year	$	135,302	$	135,418
Due after one year through five years		21,462		21,478
Total	$	156,764	$	156,896