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Investments | 12 Months Ended
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Apr. 30, 2011
Investments |
Investments | NOTE 4: INVESTMENTS AVAILABLE-FOR-SALE – The amortized cost and fair value of securities classified as available-for-sale held at April 30, 2011 and 2010 are summarized below:
(in 000s) |  |  |  |
As of April 30, |  | 2011 |  |  | 2010 |  |  |  |
|  |  |  |  | Gross |  |  | Gross |  |  |  |  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |  |  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |  |  |  |
|  | Cost |  |  | Gains |  |  | Losses(1) |  |  | Value |  |  | Cost |  |  | Gains |  |  | Losses(1) |  |  | Value |  |  |  |
Mortgage-backed securities |  | $ | 157,970 |  |  | $ | 401 |  |  | $ | (194 | ) |  | $ | 158,177 |  |  | $ | 23,026 |  |  | $ | 39 |  |  | $ | (49 | ) |  | $ | 23,016 |  |  |  |  |
Municipal bonds |  |  | 8,335 |  |  |  | 405 |  |  |  | – |  |  |  | 8,740 |  |  |  | 8,442 |  |  |  | 459 |  |  |  | – |  |  |  | 8,901 |  |  |  |  |
Trust preferred security |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 1,854 |  |  |  | – |  |  |  | (1,823 | ) |  |  | 31 |  |  |  |  |
|  | $ | 166,305 |  |  | $ | 806 |  |  | $ | (194 | ) |  | $ | 166,917 |  |  | $ | 33,322 |  |  | $ | 498 |  |  | $ | (1,872 | ) |  | $ | 31,948 |  |  |  |  |
(1) | At April 30, 2011, we had no investments that had been in a continuous loss position for more than twelve months. At April 30, 2010, investments with a cost of $15.7 million and gross unrealized losses of $1.9 million had been in a continuous loss position for more than twelve months.
We did not sell any AFS securities in fiscal year 2011. Proceeds from the sales of AFS securities were $2.1 million and $8.3 million during fiscal years 2010 and 2009, respectively. We recorded no gross realized gains or losses on those sales during fiscal year 2010. Gross realized gains on sales during fiscal year 2009 were $0.7 million; gross realized losses were $1.3 million. During fiscal years 2011, 2010 and 2009, we recorded other-than-temporary impairments of AFS securities totaling $1.9 million, $1.6 million and $1.5 million, respectively, as a result of an assessment that it was probable we would not collect all amounts due or an assessment that we would not be able to hold the investments until potential recovery of market value. Contractual maturities of AFS debt securities at April 30, 2011, occur at varying dates over the next 30 years, and are set forth in the table below.
(in 000s) |  |  |  |
|  | Cost Basis |  |  | Fair Value |  |  |  |
Maturing in: |  |  |  |  |  |  |  |  |  |  |  |
Less than one year |  | $ | 3,023 |  |  | $ | 3,081 |  |  |  |  |
Two to five years |  |  | 3,112 |  |  |  | 3,331 |  |  |  |  |
Six to ten years |  |  | 2,200 |  |  |  | 2,328 |  |  |  |  |
Beyond |  |  | 157,970 |  |  |  | 158,177 |  |  |  |  |
|  | $ | 166,305 |  |  | $ | 166,917 |  |  |  |  |
HELD-TO-MATURITY – HRB Bank is required to maintain a restricted investment in FHLB stock for borrowing availability. The cost of this investment, $3.3 million and $6.0 million at April 30, 2011 and 2010, respectively, represents its redemption value at each balance sheet date, as these investments do not have a ready market.

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- Definition The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Chapter 3 -Section A -Paragraph 9 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Subparagraph a, b, c -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766 + Details
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