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Investments | 12 Months Ended
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Apr. 27, 2024
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. We also hold investments of two privately-held companies consisting of non-marketable preferred shares, warrants to purchase common shares, and convertible notes. In the fourth quarter of fiscal 2023, we recognized an impairment of $10.3 million, consisting of $7.6 million in cost-basis investments and $2.7 million in convertible notes, which in total represented 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. 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. The following summarizes our investments:
(Amounts in thousands) |  | 4/27/2024 |  | 4/29/2023
Short-term investments: |  |  |  |
Marketable securities |  | $ | 5,553 |  |  | $ | 5,043 |
Held-to-maturity investments |  | 1,259 |  |  | 1,351 |
Total short-term investments |  | 6,812 |  |  | 6,394 |
Long-term investments: |  |  |  |
Marketable securities |  | 12,690 |  |  | 18,509 |
Total investments |  | $ | 19,502 |  |  | $ | 24,903 |
Investments to enhance returns on cash |  | $ | 6,754 |  |  | $ | 11,617 |
Investments to fund compensation/retirement plans |  | 12,748 |  |  | 13,286 |
Total investments |  | $ | 19,502 |  |  | $ | 24,903 |
The following is a summary of the unrealized gains, unrealized losses, and fair value by investment type:
|  | 4/27/2024 |  | 4/29/2023
(Amounts in thousands) |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Equity securities |  | $ | 476 |  |  | $ | — |  |  | $ | 3,728 |  |  | $ | 1,338 |  |  | $ | (103) |  |  | $ | 6,853 |
Fixed income |  | 15 |  |  | (72) |  |  | 12,015 |  |  | 42 |  |  | (620) |  |  | 14,039 |
Other |  | 707 |  |  | (14) |  |  | 3,759 |  |  | 1,171 |  |  | — |  |  | 4,011 |
Total securities |  | $ | 1,198 |  |  | $ | (86) |  |  | $ | 19,502 |  |  | $ | 2,551 |  |  | $ | (723) |  |  | $ | 24,903 |
The following table summarizes sales of marketable securities:
|  | Fiscal Year Ended
|  | (52 weeks) |  | (52 weeks) |  | (53 weeks)
(Amounts in thousands) |  | 4/27/2024 |  | 4/29/2023 |  | 4/30/2022
Proceeds from sales |  | $ | 23,328 |  |  | $ | 24,483 |  |  | $ | 35,116 |
Gross realized gains |  | 1,967 |  |  | 94 |  |  | 879 |
Gross realized losses |  | (768) |  |  | (242) |  |  | (402) |
The following is a summary of the fair value of fixed income marketable securities, classified as available-for-sale securities, by contractual maturity:
(Amounts in thousands) |  | 4/27/2024
Within one year |  | $ | 5,495 |
Securities not due at a single maturity date |  | 6,520 |
Total |  | $ | 12,015 |

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