Note B: Investments and Restricted Investments

The amortized cost and fair value of the Company's available-for-sale securities as of April 28, 2012 were:



		Amortized		Unrealized		Unrealized
	($000)	cost		gains		losses			Fair value		Short-term		Long-term
	Investments
	Corporate securities	$	5,105	$	484	$	(51	)	$	5,538	$	397	$	5,141
	Mortgage-backed securities		510		29		-			539		66		473
	Total investments		5,615		513		(51	)		6,077		463		5,614

	Restricted Investments
	Corporate securities		1,358		81		-			1,439		258		1,181
	U.S. government and agency
	securities		3,763		421		-			4,184		-		4,184
	Total restricted investments		5,121		502		-			5,623		258		5,365

	Total	$	10,736	$	1,015	$	(51	)	$	11,700	$	721	$	10,979


The amortized cost and fair value of the Company's available-for-sale securities as of January 28, 2012 were:


		Amortized		Unrealized		Unrealized
	($000)	cost		gains		losses			Fair value		Short-term		Long-term
	Investments
	Corporate securities	$	5,080	$	501	$	(78	)	$	5,503	$	401	$	5,102
	Mortgage-backed securities		728		29		-			757		257		500
	Total investments		5,808		530		(78	)		6,260		658		5,602

	Restricted Investments
	Corporate securities		1,357		94		-			1,451		-		1,451
	U.S. government and agency
	securities		3,769		431		-			4,200		-		4,200
	Total restricted investments		5,126		525		-			5,651		-		5,651

	Total	$	10,934	$	1,055	$	(78	)	$	11,911	$	658	$	11,253

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

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.

Investments and restricted investments measured at fair value at April 28, 2012 are summarized below:



			Fair Value Measurements at Reporting Date
			Quoted
			prices in
			active		Significant
			markets for		other		Significant
			identical		observable		unobservable
	April 28,		assets		inputs		inputs
($000)	2012		(Level 1)		(Level 2)		(Level 3)
Investments
Corporate securities	$	5,538	$	-	$	5,538	$	-
Mortgage-backed securities		539				539		-
Total investments		6,077		-		6,077		-

Restricted Investments
Corporate securities		1,439		-		1,439		-
U.S. government and agency securities		4,184		4,184		-		-
Total restricted investments		5,623		4,184		1,439		-

Total assets measured at fair value	$	11,700	$	4,184	$	7,516	$	-

Investments and restricted investments measured at fair value at January 28, 2012 are summarized below:



				Fair Value Measurements at Reporting Date
				Quoted
				prices in
				active		Significant
				markets for		other		Significant
				identical		observable		unobservable
		January 28,		assets		inputs		inputs
	($000)	2012		(Level 1)		(Level 2)		(Level 3)
	Investments
	Corporate securities	$	5,503	$	-	$	5,503	$	-
	Mortgage-backed securities		757		-		757		-
	Total investments		6,260		-		6,260		-

	Restricted Investments
	Corporate securities		1,451		-		1,451		-
	U.S. government and agency securities		4,200		4,200		-		-
	Total restricted investments		5,651		4,200		1,451		-

	Total assets measured at fair value	$	11,911	$	4,200	$	7,711	$	-


Investments 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	$	-

The future maturities of investment securities at April 28, 2012 were:


	Investments				Restricted Investments
			Estimated				Estimated
($000)	Cost basis		fair value		Cost basis		fair value
Maturing in one year or less	$	450	$	463	$	248	$	258
Maturing after one year through five years		4,066		4,274		1,954		2,138
Maturing after five years through ten years		1,099		1,340		2,919		3,227
	$	5,615	$	6,077	$	5,121	$	5,623

The underlying assets in the Company's non-qualified deferred compensation program totaling $75.3 million and $72.7 million as of April 28, 2012 and April 30, 2011, respectively (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 $63.8 million and $62.9 million as of April 28, 2012 and April 30, 2011, respectively. The fair value measurement for funds without quoted market prices in active markets (Level 2) totaled $11.5 million and $9.8 million as of April 28, 2012 and April 30, 2011, respectively. 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.