Note B: Investments

The amortized cost and fair value of the Company's available-for-sale securities as of April 30, 2011 were:


	Amortized		Unrealized		Unrealized
($000)	cost		gains		losses			Fair value		Short-term		Long-term
Corporate securities	$	7,170	$	608	$	(33	)	$	7,745	$	-	$	7,745
U.S. Government and agency
securities		6,589		80		-			6,669		2,809		3,860
Mortgage-backed securities		961		91		-			1,052		466		586
Total	$	14,720	$	779	$	(33	)	$	15,466	$	3,275	$	12,191

The amortized cost and fair value of the Company's available-for-sale securities as of January 29, 2011 were:


	Amortized		Unrealized		Unrealized
($000)	cost		gains		losses			Fair value		Short-term		Long-term
Corporate securities	$	7,465	$	634	$	(37	)	$	8,062	$	300	$	7,762
U.S. government and agency
securities		7,959		77		(5	)		8,031		2,366		5,665
Mortgage-backed securities		1,111		82		-			1,193		538		655
Total	$	16,535	$	793	$	(42	)	$	17,286	$	3,204	$	14,082

The amortized cost and fair value of the Company's available-for-sale securities as of May 1, 2010 were:


	Amortized		Unrealized		Unrealized
($000)	cost		gains		losses			Fair value		Short-term		Long-term
Auction-rate securities	$	1,050	$	-	$	(150	)	$	900	$	-	$	900
Corporate securities		9,352		583		(54	)		9,881		1,016		8,865
U.S. Government and agency
securities		5,243		31		(178	)		5,096		353		4,743
Mortgage-backed securities		1,849		75		(3	)		1,921		572		1,349
Total	$	17,494	$	689	$	(385	)	$	17,798	$	1,941	$	15,857

Accounting standards pertaining to fair value measurements establish a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. This fair value hierarchy also requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Corporate, U.S. government and agency, and mortgage-backed securities are classified within Level 1 or Level 2 because these securities are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs.

Assets measured at fair value at April 30, 2011 are summarized below:


			Fair Value Measurements at Reporting Date
			Quoted
			prices in
			active		Significant
			markets for		other		Significant
			identical		observable		unobservable
	April 30,		assets		inputs		inputs
($000)	2011		(Level 1)		(Level 2)		(Level 3)
Corporate securities	$	7,745	$	-	$	7,745	$	-
U.S. Government and agency securities		6,669		6,669		-		-
Mortgage-backed securities		1,052		-		1,052		-
Total assets measured at fair value	$	15,466	$	6,669	$	8,797	$	-

Assets measured at fair value at January 29, 2011 are summarized below:



			Fair Value Measurements at Reporting Date
			Quoted
			prices in
			active		Significant
			markets for		other		Significant
			identical		observable		unobservable
	January 29,		assets		inputs		inputs
($000)	2011		(Level 1)		(Level 2)		(Level 3)
Corporate securities	$	8,062	$	-	$	8,062	$	-
U.S. government and agency securities		8,031		8,031		-		-
Mortgage-backed securities		1,193		-		1,193		-
Total assets measured at fair value	$	17,286	$	8,031	$	9,255	$	-

Assets measured at fair value at May 1, 2010 are summarized below:



			Fair Value Measurements at Reporting Date
			Quoted
			prices in
			active		Significant
			markets for		other		Significant
			identical		observable		unobservable
	May 1,		assets		inputs		inputs
($000)	2010		(Level 1)		(Level 2)		(Level 3)
Auction-rate securities	$	900	$	-	$	-	$	900
Corporate securities		9,881		-		9,881		-
U.S. Government and agency securities		5,096		5,096		-		-
Mortgage-backed securities		1,921		-		1,921		-
Total assets measured at fair value	$	17,798	$	5,096	$	11,802	$	900

The maturities of investment securities at April 30, 2011 were:



			Estimated
($000)	Cost basis		fair value
Maturing in one year or less	$	3,212	$	3,275
Maturing after one year through five years		5,070		5,408
Maturing after five years through ten years		6,438		6,783
	$	14,720	$	15,466

The underlying assets in the Company's non-qualified deferred compensation program totaling $72.7 million as of April 30, 2011 (included in other long-term assets and in other long-term liabilities) primarily consist of participant directed money market, stable value, stock, and bond funds. The fair value measurement for funds with quoted market prices in active markets (Level 1) totaled $62.9 million as of April 30, 2011. The fair value measurement for funds without quoted market prices in active markets (Level 2) totaled $9.8 million as of April 30, 2011. Fair market value for these Level 2 funds is considered to be the sum of participant funds invested under a group annuity contract plus accrued interest.