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Investments

3 Months Ended

Jul. 31, 2021

Investments

Investments

3. Investments

​

Investments consist of the following (in thousands):

​

​	​	​	​	​	​	​	​
​	​	July 31,		​	April 30,		​
​		2021			2021
Short-term investments:	​	​	​	​	​	​	​
Available-for-sale securities:	​	​	​	​	​	​	​
Municipal securities	​	​	12,264	​	​	22,245	​
U.S. government securities	​	​	—	​	​	4,009	​
Corporate bonds	​	​	5,689	​	​	5,717	​
Total short-term investments	​	$	17,953	​	$	31,971	​
Long-term investments:	​	​	​	​	​	​	​
Available-for-sale securities:	​	​	​	​	​	​	​
Municipal securities	​	​	987	​	​	988	​
U.S. government securities	​	​	—	​	​	4,000	​
Total long-term available-for-sale investments	​		987	​		4,988	​
Equity method investments	​	​	​	​	​	​	​
Investment in limited partnership fund	​		9,178	​		7,168	​
Total equity method investments	​		9,178	​		7,168	​
Total long-term investments	​	$	10,165	​	$	12,156	​

​

Available-For-Sale Securities

​

As of July 31, 2021 and April 30, 2021, 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 are recorded in (expense) 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 July 31, 2021 and April 30, 2021, respectively (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

July 31, 2021

​

​

​

​

​

Gross

Gross

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

Fair

​

​

​

​

Cost

​

Gains

​

Losses

​

Value

​

​

Municipal securities

​

$

13,249

​

$

3

​

$

(1)

​

$

13,251

​

​

Corporate bonds

​

​

5,689

​

​

—

​

​

—

​

​

5,689

​

​

Total available-for-sale investments

​

$

18,938

​

$

3

​

$

(1)

​

$

18,940

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

April 30, 2021

​

​

​

​

​

​

Gross

​

Gross

​

​

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

Fair

​

​

Cost

Gains

​

Losses

Value

Municipal securities

$

23,227

​

$

8

​

$

(2)

​

$

23,233

​

U.S. government securities

​

8,008

​

​

1

​

​

—

​

​

8,009

​

Corporate bonds

​

5,718

​

​

—

​

​

(1)

​

​

5,717

​

Total available-for-sale investments

$

36,953

$

9

​

$

(3)

$

36,959

​

​

The amortized cost and fair value of the available-for-sale debt securities by contractual maturity at July 31, 2021 were as follows (in thousands):

​

​	​	​	​	​	​	​	​
​		Cost			Fair Value
Due within one year	​	$	17,953	​	$	17,953	​
Due after one year through five years	​		985	​		987	​
Total	​	$	18,938	​	$	18,940	​

​

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- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2209399

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
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-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2176304

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