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Investments

9 Months Ended

Jan. 30, 2021

Investments

3. Investments

Investments consist of the following (in thousands):


		January 30,			April 30,
		2021			2020
Short-term investments:
Available-for-sale securities:
Municipal securities			25,709			5,244
U.S. government securities			13,019			33,771
Corporate bonds			9,771			8,492
Total short-term investments		$	48,499		$	47,507
Long-term investments:
Available-for-sale securities:
Municipal securities			989			1,592
U.S. government securities			4,003			8,996
Total available-for-sale investments			4,992			10,588
Equity method investments
Investment in limited partnership fund			6,230			4,442
Total equity method investments			6,230			4,442
Total long-term investments		$	11,222		$	15,030

Available-For-Sale Securities

As of January 30, 2021 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 January 30, 2021 and April 30, 2020, respectively (in thousands):


		January 30, 2021
					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
		Cost			Gains			Losses			Value
Municipal securities		$	26,691		$	12		$	(5)		$	26,698
U.S. government securities			17,017			5			—			17,022
Corporate bonds			9,771			1			(1)			9,771
Total available-for-sale investments		$	53,479		$	18		$	(6)		$	53,491


		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 January 30, 2021 were as follows (in thousands):


		Cost			Fair Value
Due within one year		$	48,494		$	48,499
Due after one year through five years			4,985			4,992
Total		$	53,479		$	53,491