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Investments

12 Months Ended

Apr. 30, 2021

Investments

Investments

3.           Investments

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Investments consist of the following:

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​	​	​	​	​	​	​
​	​	April 30,
​		2021			2020
Short-term investments:	​	​	​	​	​	​
Available-for-sale securities:	​	​	​	​	​	​
Municipal securities	​	​	22,245	​	​	5,244
U.S. government securities	​	​	4,009	​	​	33,771
Corporate bonds	​	​	5,717	​	​	8,492
Total short-term investments	​	$	31,971	​	$	47,507
Long-term investments:	​	​	​	​	​	​
Available-for-sale securities:	​	​	​	​	​	​
Municipal securities	​	​	988	​	​	1,592
U.S. government securities	​	​	4,000	​	​	8,996
Total available-for-sale investments	​		4,988	​		10,588
Equity method investments	​	​	​	​	​	​
Investment in limited partnership fund	​		7,168	​		4,442
Total equity method investments	​		7,168	​		4,442
Total long-term investments	​	$	12,156	​	$	15,030

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Available-For-Sale Securities

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As of April 30, 2021 and 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.

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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 April 30, (in thousands):

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April 30, 2021

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April 30, 2020

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​

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Gross

Gross

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​

​

​

​

Gross

​

Gross

​

​

​

​

​

Amortized

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Unrealized

​

Unrealized

​

Fair

​

Amortized

​

Unrealized

​

Unrealized

​

Fair

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​

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Cost

​

Gains

​

Losses

​

Value

​

Cost

Gains

​

Losses

Value

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Municipal securities

​

$

23,227

​

$

8

​

$

(2)

​

$

23,233

​

$

6,807

​

$

29

​

$

—

​

$

6,836

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U.S. government securities

​

​

8,008

​

​

1

​

​

—

​

​

8,009

​

42,730

​

​

41

​

​

(4)

​

​

42,767

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Corporate bonds

​

​

5,718

​

​

—

​

​

(1)

​

​

5,717

​

8,495

​

​

—

​

​

(3)

​

​

8,492

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Total available-for-sale investments

​

$

36,953

​

$

9

​

$

(3)

​

$

36,959

​

$

58,032

$

70

​

$

(7)

$

58,095

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The amortized cost and fair value of the Company’s available-for-sale securities by contractual maturity at April 30, 2021, are as follows:

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​	​	​	​	​	​	​	​
​		Cost			Fair Value
Due within one year	​	$	31,968	​	$	31,971	​
Due after one year through five years	​		4,985	​		4,988	​
Total	​	$	36,953	​	$	36,959	​

​

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The entire disclosure for investments in certain debt and equity securities.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 320
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