Marketable Securities (Tables)

12 Months Ended

Apr. 30, 2016

As of April 30, 2016, marketable securities consisted of the following:


	Trading (1)(2)			Available- for-Sale (2)		Total
	(in thousands)
Mutual funds	$	141,430		$	—	$	141,430
Less: current portion of marketable securities		(11,338	)		—		(11,338	)

Non-current marketable securities	$	130,092		$	—	$	130,092

As of April 30, 2015, marketable securities consisted of the following:


	Trading (1)(2)			Available-for- Sale (2)			Total
	(in thousands)
Mutual funds	$	131,399		$	—		$	131,399
Corporate bonds		—			13,177			13,177

Total		131,399			13,177			144,576
Less: current portion of marketable securities		(12,580	)		(13,177	)		(25,757	)

Non-current marketable securities	$	118,819		$	—		$	118,819

(1)

These investments are held in trust for settlement of the Company’s vested and unvested obligations of $138.8 million and $129.1 million as of April 30, 2016 and 2015, respectively, under the ECAP (see Note 6 — Deferred Compensation and Retirement Plans). During fiscal 2016, the fair value of investments decreased; therefore, the Company recognized a loss of $3.3 million, which was recorded in other income (loss), net. During fiscal 2015 and 2014, the fair value of the investments increased; therefore, the Company recognized income of $8.8 million and $9.5 million, respectively, which was recorded in other income (loss), net.

(2)	The Company’s financial assets measured at fair value on a recurring basis include trading securities classified as Level 1 and available-for-sale securities classified as Level 2. As of April 30, 2016 and 2015, the Company had no investments classified as Level 3.

Amortized Cost and Fair Values of Marketable Securities Classified as Available-For-Sale Investments

As of April 30, 2016, the Company did not hold marketable securities classified as available-for-sale. As of April 30, 2015, the amortized cost and fair values of marketable securities classified as available-for-sale investments were as follows:


	April 30, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses (1)			Estimated Fair Value
	(in thousands)
Corporate bonds	$	13,167	$	11	$	(1	)	$	13,177

(1)	There are no marketable securities that have been in a continuous unrealized loss position for 12 months or more.

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details