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Investments
12 Months Ended
Apr. 27, 2019
Investments  
Investments

Note 7: Investments

 

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 companies. 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 at April 27, 2019, and April 28, 2018:

 

 

 

 

 

 

 

 

(Amounts in thousands)

    

4/27/2019

    

4/28/2018

Short-term investments:

 

 

 

 

 

 

Marketable securities

 

$

18,016

 

$

12,926

Held-to-maturity investments

 

 

3,341

 

 

3,340

Total short-term investments

 

 

21,357

 

 

16,266

 

 

 

 

 

 

 

Long-term investments:

 

 

 

 

 

 

Marketable securities

 

 

24,085

 

 

32,134

Cost basis investments

 

 

11,979

 

 

10,954

Total long-term investments

 

 

36,064

 

 

43,088

 

 

 

 

 

 

 

Total investments

 

$

57,421

 

$

59,354

 

 

 

 

 

 

 

Investments to enhance returns on cash

 

$

31,470

 

$

34,359

Investments to fund compensation/retirement plans

 

$

13,972

 

$

14,041

Other investments

 

$

11,979

 

$

10,954

 

The following is a summary of the unrealized gains, unrealized losses, and fair value by investment type at April 27, 2019, and April 28, 2018:

 

Fiscal 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross

 

Gross

 

 

 

(Amounts in thousands)

    

Unrealized Gains

    

Unrealized Losses

    

Fair Value

Equity securities

 

$

1,841

 

$

 —

 

$

19,535

Fixed income

 

 

75

 

 

(111)

 

 

33,217

Other

 

 

258

 

 

(13)

 

 

4,669

Total securities

 

$

2,174

 

$

(124)

 

$

57,421

 

Fiscal 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Gross

    

Gross

    

 

 

(Amounts in thousands)

 

Unrealized Gains

 

Unrealized Losses

 

Fair Value

Equity securities

 

$

2,142

 

$

(39)

 

$

18,765

Fixed income

 

 

29

 

 

(418)

 

 

36,312

Other

 

 

72

 

 

 —

 

 

4,277

Total securities

 

$

2,243

 

$

(457)

 

$

59,354

 

The following table summarizes sales of marketable securities (for the fiscal years ended):

 

 

 

 

 

 

 

 

 

 

 

 

 

(52 weeks)

 

(52 weeks)

 

(52 weeks)

(Amounts in thousands)

    

4/27/2019

    

4/28/2018

    

4/29/2017

Proceeds from sales

 

$

20,944

 

$

22,674

 

$

19,954

Gross realized gains

 

 

1,152

 

 

1,302

 

 

926

Gross realized losses

 

 

(496)

 

 

(532)

 

 

(455)

 

At April 27, 2019, the fair value of our fixed income marketable securities, classified as available-for-sale securities, by contractual maturity was $18.1 million within one year, $12.7 million within two to five years, $1.5 million within six to ten years and $0.9 million thereafter.