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Marketable Securities
 9 Months Ended
Jan. 31, 2015
Marketable Securities [Abstract]  
Marketable Securities
Note 4. Marketable Securities

We have a cash management program which provides for the investment of cash balances not used in current operations.  We classify our investments in marketable securities as available-for-sale in accordance with the provisions of ASC 320, Investments – Debt and Equity Securities.  Marketable securities classified as available-for-sale are reported at fair value with unrealized gains or losses, net of tax, reported in accumulated other comprehensive (loss) income.  As it relates to fixed income marketable securities, we do not intend to sell any of these investments, and it is not likely we will be required to sell any of these investments before recovery of the entire amortized cost basis. In addition, as of January 31, 2015, we anticipate we will recover the entire amortized cost basis of such fixed income securities, and we have determined that no other-than-temporary impairments associated with credit losses were required to be recognized. The cost of securities sold is based on the specific identification method. Where quoted market prices are not available, we use the market price of similar types of securities traded in the market to estimate fair value.  

As of January 31, 2015 and April 26, 2014, our available-for-sale securities consisted of the following:
 
Amortized Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair Value
Balance as of January 31, 2015
 
 
 
 
 
 
 
Certificates of deposit
$
9,673

 
$
—

 
$
—

 
$
9,673

U.S. Government securities
1,000

 
1

 
—

 
1,001

U.S. Government sponsored entities
8,650

 
—

 
—

 
8,650

Municipal obligations
6,332

 
6

 
—

 
6,338

 
$
25,655

 
$
7

 
$
—

 
$
25,662

Balance as of April 26, 2014
 

 
 

 
 

 
 

Certificates of deposit
$
7,734

 
$
—

 
$
—

 
$
7,734

U.S. Government securities
2,000

 
2

 
—

 
2,002

U.S. Government sponsored entities
8,349

 
—

 
(8
)
 
8,341

Municipal obligations
7,309

 
12

 
—

 
7,321

 
$
25,392

 
$
14

 
$
(8
)
 
$
25,398



Realized gains or losses on investments are recorded in our consolidated statements of operations as other (expense) income, net. Upon the sale of a security classified as available-for-sale, the security’s specific unrealized gain (loss) is reclassified out of "accumulated other comprehensive (loss) income” and into earnings based on the specific identification method. In the nine months ended January 31, 2015 and January 25, 2014, the reclassifications from accumulated other comprehensive (loss) income to net assets were immaterial.

All available-for-sale securities are classified as current assets, as they are readily available to support our current operating needs. The contractual maturities of available-for-sale debt securities as of January 31, 2015 were as follows:
 
Less than 12 months
 
1-5 Years
 
Total
Certificates of deposit
$
3,212

 
$
6,461

 
$
9,673

U.S. Government securities
1,001

 
—

 
1,001

U.S. Government sponsored agencies
—

 
8,650

 
8,650

Municipal obligations
5,363

 
975

 
6,338

 
$
9,576

 
$
16,086

 
$
25,662