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Marketable Securities (Tables) | 12 Months Ended
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Apr. 30, 2012
Summary Of Marketable Securities | As of April 30, 2012 marketable securities consisted of the following:
|  | Trading (1)(3) |  |  | Available-for- Sale(2)(3) |  |  | Total |
|  | (in thousands) |
Mutual funds |  | $ | 82,176 |  |  | $ | — |  |  | $ | 82,176 |
Corporate bonds |  |  | — |  |  |  | 44,563 |  |  |  | 44,563 |
Commercial paper |  |  | — |  |  |  | 5,989 |  |  |  | 5,989 |
U.S. Treasury and agency securities |  |  | — |  |  |  | 3,006 |  |  |  | 3,006 |
Total |  |  | 82,176 |  |  |  | 53,558 |  |  |  | 135,734 |
Less: current portion of marketable securities |  |  | (7,613 | ) |  |  | (33,323 | ) |  |  | (40,936 | )
Non-current marketable securities |  | $ | 74,563 |  |  | $ | 20,235 |  |  | $ | 94,798 |
As of April 30, 2011 marketable securities consisted of the following:
|  | Trading (1)(3) |  |  | Available-for- Sale(2)(3) |  |  | Total |
|  | (in thousands) |
Mutual funds |  | $ | 71,363 |  |  | $ | — |  |  | $ | 71,363 |
Corporate bonds |  |  | — |  |  |  | 40,444 |  |  |  | 40,444 |
U.S. Treasury and agency securities |  |  | — |  |  |  | 9,424 |  |  |  | 9,424 |
Commercial paper |  |  | — |  |  |  | 1,000 |  |  |  | 1,000 |
Total |  |  | 71,363 |  |  |  | 50,868 |  |  |  | 122,231 |
Less: current portion of marketable securities |  |  | (5,081 | ) |  |  | (15,787 | ) |  |  | (20,868 | )
Non-current marketable securities |  | $ | 66,282 |  |  | $ | 35,081 |  |  | $ | 101,363 |
(1) | These investments are held in trust for settlement of the Company’s obligations of $82.6 million and $72.1 million as of April 30, 2012 and 2011, respectively, under the Executive Capital Accumulation Plan (see Note 6 — Deferred Compensation and Retirement Plans). The fair value of marketable securities classified as trading (held in trust to satisfy obligations under the ECAP) increased by $1.1 million and $7.6 million during fiscal 2012 and fiscal 2011, respectively, recorded in other (loss) income, net on the consolidated statements of income.
(2) | These securities represent excess cash invested, under our investment policy, with a professional money manager.
(3) | The Company’s financial assets measured at fair value on a recurring basis include, trading securities classified as Level 1 and available-for-sale securities classified as Level 2. As of April 30, 2012 and 2011, the Company had cash equivalents, including restricted cash of $70.6 million and $120.8 million, respectively, also classified as Level 1.
Amortized Cost And Fair Values Of Marketable Securities Classified As Available-For-Sale Investments | The amortized cost and fair values of marketable securities classified as available-for-sale investments were as follows:
|  | April 30, 2012 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses(1) |  |  | Estimated Fair Value |
|  | (in thousands) |
Corporate bonds |  | $ | 44,498 |  |  | $ | 81 |  |  | $ | (16 | ) |  | $ | 44,563 |
Commercial paper |  |  | 5,993 |  |  |  | 1 |  |  |  | (5 | ) |  |  | 5,989 |
U.S. Treasury and agency securities |  |  | 3,006 |  |  |  | — |  |  |  | — |  |  |  | 3,006 |
Total |  | $ | 53,497 |  |  | $ | 82 |  |  | $ | (21 | ) |  | $ | 53,558 |
|  | April 30, 2011 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses(1) |  |  | Estimated Fair Value |
|  | (in thousands) |
Corporate bonds |  | $ | 40,369 |  |  | $ | 107 |  |  | $ | (32 | ) |  | $ | 40,444 |
U.S. Treasury and agency securities |  |  | 9,427 |  |  |  | 10 |  |  |  | (13 | ) |  |  | 9,424 |
Commercial paper |  |  | 1,000 |  |  |  | — |  |  |  | — |  |  |  | 1,000 |
Total |  | $ | 50,796 |  |  | $ | 117 |  |  | $ | (45 | ) |  | $ | 50,868 |
(1) | There are no marketable securities that have been in a continuous unrealized loss position for 12 months or more.
Assets Measured At Fair Value On Recurring Basis Using Significant Unobservable Inputs | The following table presents the Company’s assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the periods indicated:
|  | April 30, |
Auction Rate Securities |  | 2012 |  |  | 2011 |
|  | (in thousands) |
Balance, beginning of year |  | $ | — |  |  | $ | 8,200 |
Auction rate securities put option |  |  | — |  |  |  | (745 | )
Realized gain included in operations |  |  | — |  |  |  | 745 |
Sale of securities |  |  | — |  |  |  | (8,200 | )
Balance, end of year |  | $ | — |  |  | $ | — |

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- Definition Tabular disclosure of available-for-sale securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Staff Position (FSP) -Number FAS115-1/124-1 -Paragraph 17 -Subparagraph a, b -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 FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62586-112803 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 19, 20, 21 -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 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number 03-1 -Paragraph 21 -Subparagraph a, b -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 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27198-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27337-111563 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27161-111563 + Details
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