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Investments | 3 Months Ended
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Oct. 31, 2020
Investments |
Investments | 3. Investments ​ Investments consist of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | October 31, | ​ | April 30, | ​
​ |  | 2020 |  | 2020 |
Short-term investments: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available-for-sale securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Municipal securities | ​ | ​ | 13,279 | ​ | ​ | 5,244 | ​
U.S. government securities | ​ | ​ | 44,024 | ​ | ​ | 33,771 | ​
Corporate bonds | ​ | ​ | 9,834 | ​ | ​ | 8,492 | ​
Total short-term investments | ​ | $ | 67,137 | ​ | $ | 47,507 | ​
Long-term investments: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available-for-sale securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Municipal securities | ​ | ​ | 5,640 | ​ | ​ | 1,592 | ​
U.S. government securities | ​ | ​ | 10,001 | ​ | ​ | 8,996 | ​
Total available-for-sale investments | ​ |  | 15,641 | ​ |  | 10,588 | ​
Equity method investments | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment in limited partnership fund | ​ |  | 5,335 | ​ |  | 4,442 | ​
Total equity method investments | ​ |  | 5,335 | ​ |  | 4,442 | ​
Total long-term investments | ​ | $ | 20,976 | ​ | $ | 15,030 | ​
​ Available-For-Sale Securities ​ As of October 31, 2020 and April 30, 2020, the balance of available-for-sale securities consisted of state and local government municipal securities, U.S. government securities, U.S. government agency securities, and investment grade corporate bonds. Interest earned from these investments is recorded in interest income. Realized gains on sales of these investments on the basis of specific identification is recorded in interest income. ​ The following table is a summary of the activity related to the available-for-sale investments recorded in short-term and long-term investments as of October 31, 2020 and April 30, 2020, respectively (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | October 31, 2020
​ |  | ​ | ​ |  | Gross |  | Gross |  | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair
​ | ​ | Cost | ​ | Gains | ​ | Losses | ​ | Value
Municipal securities | ​ | $ | 18,915 | ​ | $ | 9 | ​ | $ | (5) | ​ | $ | 18,919
U.S. government securities | ​ | ​ | 54,022 | ​ | ​ | 3 | ​ | ​ | — | ​ | ​ | 54,025
Corporate bonds | ​ | ​ | 9,838 | ​ | ​ | — | ​ | ​ | (4) | ​ | ​ | 9,834
Total available-for-sale investments | ​ | $ | 82,775 | ​ | $ | 12 | ​ | $ | (9) | ​ | $ | 82,778
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | April 30, 2020 | ​
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair |
​ | ​ | Cost |  | Gains | ​ | Losses |  | Value |
Municipal securities |  | $ | 6,807 | ​ | $ | 29 | ​ | $ | — | ​ | $ | 6,836 | ​
U.S. government securities | ​ |  | 42,730 | ​ | ​ | 41 | ​ | ​ | (4) | ​ | ​ | 42,767 | ​
Corporate bonds | ​ |  | 8,495 | ​ | ​ | — | ​ | ​ | (3) | ​ | ​ | 8,492 | ​
Total available-for-sale investments |  | $ | 58,032 |  | $ | 70 | ​ | $ | (7) |  | $ | 58,095 | ​
​ The amortized cost and fair value of the available-for-sale debt securities by contractual maturity at October 31, 2020 were as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Cost |  | Fair Value |
Due within one year | ​ | $ | 67,135 | ​ | $ | 67,137 | ​
Due after one year through five years | ​ |  | 15,640 | ​ |  | 15,641 | ​
Total | ​ | $ | 82,775 | ​ | $ | 82,778 | ​
​

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