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Investments | 9 Months Ended
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Jan. 25, 2020
Investments, Debt and Equity Securities [Abstract] |
Investments | Investments We have current and long-term investments intended to enhance returns on our cash as well as to fund future obligations of our non-qualified defined benefit retirement plan, our executive deferred compensation plan, and our performance compensation retirement plan. Our short-term investments are included in other current assets and our long-term investments are included in other long-term assets on our consolidated balance sheet. We also hold other investments consisting of cost-basis preferred shares of two privately held start-up companies. In the third quarter of fiscal year 2020, we recognized an other-than-temporary impairment of $6.0 million, which represents the full cost-basis value of the investment in one of these privately held start-up companies. The impairment loss is recognized in Other income (expense), net on the consolidated statement of income. Refer to Note 16, Fair Value Measurements for further information. The following summarizes our investments:
(Unaudited, amounts in thousands) |  | 1/25/20 |  | 4/27/19
Short-term investments: |  |  |  |
Marketable securities |  | $ | 18,891 |  |  | $ | 18,016 |
Held-to-maturity investments |  | 3,542 |  |  | 3,341 |
Total short-term investments |  | 22,433 |  |  | 21,357 |
Long-term investments: |  |  |  |
Marketable securities |  | 21,902 |  |  | 24,085 |
Cost basis investments |  | 6,479 |  |  | 11,979 |
Total long-term investments |  | 28,381 |  |  | 36,064 |
Total investments |  | $ | 50,814 |  |  | $ | 57,421 |
Investments to enhance returns on cash |  | $ | 30,109 |  |  | $ | 31,470 |
Investments to fund compensation/retirement plans |  | 14,226 |  |  | 13,972 |
Other investments |  | 6,479 |  |  | 11,979 |
Total investments |  | $ | 50,814 |  |  | $ | 57,421 |
The following is a summary of the unrealized gains, unrealized losses, and fair value by investment type:
|  | 1/25/20 |  | 4/27/19
(Unaudited, amounts in thousands) |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Equity securities |  | $ | 1,922 |  |  | $ | (6,000 | ) |  | $ | 13,600 |  |  | $ | 1,841 |  |  | $ | — |  |  | $ | 19,535 |
Fixed income |  | 199 |  |  | (8 | ) |  | 31,962 |  |  | 75 |  |  | (111 | ) |  | 33,217 |
Other |  | 376 |  |  | — |  |  | 5,252 |  |  | 258 |  |  | (13 | ) |  | 4,669 |
Total securities |  | $ | 2,497 |  |  | $ | (6,008 | ) |  | $ | 50,814 |  |  | $ | 2,174 |  |  | $ | (124 | ) |  | $ | 57,421 |
The following table summarizes sales of marketable securities:
|  | Quarter Ended |  | Nine Months Ended
(Unaudited, amounts in thousands) |  | 1/25/20 |  | 1/26/19 |  | 1/25/20 |  | 1/26/19
Proceeds from sales |  | $ | 11,517 |  |  | $ | 6,550 |  |  | $ | 23,887 |  |  | $ | 14,304 |
Gross realized gains |  | 431 |  |  | 726 |  |  | 618 |  |  | 811 |
Gross realized losses |  | (62 | ) |  | (261 | ) |  | (150 | ) |  | (327 | )
The following is a summary of the fair value of fixed income marketable securities, classified as available-for-sale securities, by contractual maturity:
(Unaudited, amounts in thousands) |  | 1/25/20
Within one year |  | $ | 19,041 |
Within two to five years |  | 10,000 |
Within six to ten years |  | 1,639 |
Thereafter |  | 1,282 |
Total |  | $ | 31,962 |

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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 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 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 + Details
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