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Marketable Securities | 6 Months Ended
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Oct. 31, 2013
Marketable Securities | 5. Marketable Securities As of October 31, 2013, marketable securities consisted of the following:
|  | Trading (1)(2) |  |  | Available-for- Sale (2)(3) |  |  | Total |
|  | (in thousands) |
Mutual funds |  | $ | 117,963 |  |  | $ | — |  |  | $ | 117,963 |
Corporate bonds |  |  | — |  |  |  | 14,322 |  |  |  | 14,322 |
Total |  |  | 117,963 |  |  |  | 14,322 |  |  |  | 132,285 |
Less: current portion of marketable securities |  |  | (4,481 | ) |  |  | (2,050 | ) |  |  | (6,531 | )
Non-current marketable securities |  | $ | 113,482 |  |  | $ | 12,272 |  |  | $ | 125,754 |
As of April 30, 2013, marketable securities consisted of the following:
|  | Trading (1)(2) |  |  | Available-for- Sale (2)(3) |  |  | Total |
|  | (in thousands) |
Mutual funds |  | $ | 98,001 |  |  | $ | — |  |  | $ | 98,001 |
Corporate bonds |  |  | — |  |  |  | 42,111 |  |  |  | 42,111 |
U.S. Treasury and agency securities |  |  | — |  |  |  | 1,804 |  |  |  | 1,804 |
Total |  |  | 98,001 |  |  |  | 43,915 |  |  |  | 141,916 |
Less: current portion of marketable securities |  |  | (4,537 | ) |  |  | (15,810 | ) |  |  | (20,347 | )
Non-current marketable securities |  | $ | 93,464 |  |  | $ | 28,105 |  |  | $ | 121,569 |
(1) | These investments are held in trust for settlement of the Company’s vested and unvested obligations of $119.3 million and $99.2 million as of October 31, 2013 and April 30, 2013, respectively, under the ECAP (see Note 6 – Deferred Compensation and Retirement Plans).
(2) | 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 October 31, 2013 and April 30, 2013, the Company had cash equivalents of $89.2 million and $93.6 million, respectively, classified as Level 1. As of April 30, 2013, the Company had restricted cash of $2.9 million, classified as Level 1. As of October 31, 2013, the Company had no restricted cash balance. As of October 31, 2013 and April 30, 2013, the Company had no investments classified as Level 3.
(3) | These securities represent excess cash available for general corporate purposes invested, under our investment policy, with a professional money manager.
The amortized cost and fair values of marketable securities classified as available-for-sale investments were as follows:
|  | October 31, 2013 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses (1) |  |  | Estimated Fair Value |
|  | (in thousands) |
Corporate bonds |  | $ | 14,297 |  |  | $ | 29 |  |  | $ | (4 | ) |  | $ | 14,322 |
|  | April 30, 2013 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses (1) |  |  | Estimated Fair Value |
|  | (in thousands) |
Corporate bonds |  | $ | 42,033 |  |  | $ | 92 |  |  | $ | (14 | ) |  | $ | 42,111 |
U.S. Treasury and agency securities |  |  | 1,802 |  |  |  | 2 |  |  |  | — |  |  |  | 1,804 |
Total |  | $ | 43,835 |  |  | $ | 94 |  |  | $ | (14 | ) |  | $ | 43,915 |
(1) | There are no marketable securities that have been in a continuous unrealized loss position for 12 months or more.
Investments in marketable securities classified as available-for-sale securities are made based on the Company’s investment policy, which restricts the types of investments that can be made. As of October 31, 2013 and April 30, 2013, the Company’s investments associated with cash equivalents, consist of money market funds for which market prices are readily available and as of April 30, 2013 includes restricted cash. As of October 31, 2013 and April 30, 2013, marketable securities classified as available-for-sale consist of corporate bonds and as of April 30, 2013 also includes U.S. Treasury and agency securities, all for which market prices for similar assets are readily available. As of October 31, 2013, available-for-sale marketable securities have remaining maturities ranging from seven months to 2.0 years. Investments in marketable securities classified as trading are based upon investment selections the employee elects from a pre-determined set of securities in the ECAP and the Company invests in marketable securities to mirror these elections. As of October 31, 2013 and April 30, 2013, the Company’s investments in marketable securities classified as trading consist of mutual funds for which market prices are readily available. As of October 31, 2013 and April 30, 2013, the Company’s marketable securities classified as trading were $118.0 million (net of gross unrealized gains of $9.2 million and gross unrealized losses of $0.6 million) and $98.0 million (net of gross unrealized gains of $3.1 million and no gross unrealized losses), respectively.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: 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=27724398&loc=d3e27290-111563 Reference 2: 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=27724398&loc=d3e27357-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27232-111563 Reference 6: 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 7: 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=27724398&loc=d3e27161-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27405-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 + Details
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