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Investments | 6 Months Ended
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Oct. 27, 2012
Investments [Abstract] |
Investments |
Note 5: | Investments
Our consolidated balance sheet at October 27, 2012, included $8.6 million of available-for-sale investments in other current assets and $27.0 million of available-for-sale and other investments in other long-term assets. Available-for sale investments of $10.2 million and trading securities of $1.0 million were included in other long-term assets in our consolidated balance sheet at April 28, 2012. At October 27, 2012, $24.8 million of these investments were to enhance returns on our cash. The remaining investments at October 27, 2012, and our fiscal 2012 investments were designated to fund future obligations of our non-qualified defined benefit retirement plan and our executive qualified deferred compensation plan. All unrealized gains and losses in the tables below relate to available-for-sale investments and were included in accumulated other comprehensive loss within our consolidated statement of changes in equity because none of them were considered other-than-temporary during fiscal 2013 or fiscal 2012. If there were a decline in the fair value of an investment below its cost and the decline was considered other-than-temporary, the amount of decline below cost would be charged against earnings. The following is a summary of investments at October 27, 2012, and April 28, 2012:
As of October 27, 2012 |  |  |  |  |  |  |  |  |
(Unaudited, amounts in thousands) |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Equity securities |  | $ | 1,993 |  |  | $ | (134 | ) |  | $ | 6,489 |
Fixed income |  |  | 124 |  |  |  | (10 | ) |  |  | 27,515 |
Mutual funds |  |  | — |  |  |  | — |  |  |  | 1,071 |
Other |  |  | — |  |  |  | — |  |  |  | 539 |
Total securities |  | $ | 2,117 |  |  | $ | (144 | ) |  | $ | 35,614 |
As of April 28, 2012 |  |  |  |  |  |  |  |  |  |  |  |
(Unaudited, amounts in thousands) |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Equity securities |  | $ | 2,806 |  |  | $ | (83 | ) |  | $ | 7,237 |
Fixed income |  |  | 102 |  |  |  | (7 | ) |  |  | 2,850 |
Mutual funds |  |  | — |  |  |  | — |  |  |  | 950 |
Other |  |  | — |  |  |  | — |  |  |  | 163 |
Total securities |  | $ | 2,908 |  |  | $ | (90 | ) |  | $ | 11,200 |
The following table summarizes sales of available-for-sale securities:
|  | Second Quarter Ended |  |  | Six Months Ended |
(Unaudited, amounts in thousands) |  | 10/27/12 |  |  | 10/29/11 |  |  | 10/27/12 |  |  | 10/29/11 |
Proceeds from sales |  | $ | 3,480 |  |  | $ | 1,050 |  |  | $ | 4,908 |  |  | $ | 3,210 |
Gross realized gains |  |  | 621 |  |  |  | 52 |  |  |  | 845 |  |  |  | 447 |
Gross realized losses |  |  | (10 | ) |  |  | (24 | ) |  |  | (36 | ) |  |  | (27 | )
The fair value of fixed income available-for-sale securities by contractual maturity was $8.6 million within one year, $17.5 million within two to five years, $0.8 million within six to ten years and $0.6 million thereafter.

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