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Marketable Securities
 9 Months Ended
Jan. 27, 2018
Marketable Securities [Abstract]  
Marketable Securities
Note 5. 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.  As it relates to fixed income marketable securities, 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 27, 2018, we anticipate we will recover the entire amortized cost basis of such fixed income securities, and we have determined 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 27, 2018 and April 29, 2017, our available-for-sale securities consisted of the following:
 
Amortized Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair Value
Balance as of January 27, 2018
 
 
 
 
 
 
 
Certificates of deposit
$
8,918

 
$
—

 
$
—

 
$
8,918

U.S. Government sponsored entities
9,104

 
—

 
(73
)
 
9,031

Municipal bonds
6,001

 
—

 
(13
)
 
5,988

 
$
24,023

 
$
—

 
$
(86
)
 
$
23,937

Balance as of April 29, 2017
 

 
 

 
 

 
 

Certificates of deposit
$
12,487

 
$
—

 
$
—

 
$
12,487

U.S. Government securities
400

 
—

 
—

 
400

U.S. Government sponsored entities
12,260

 
—

 
(22
)
 
12,238

Municipal bonds
7,574

 
14

 
—

 
7,588

 
$
32,721

 
$
14

 
$
(22
)
 
$
32,713



Realized gains or losses on investments are recorded in our consolidated statements of operations as other income (expense), 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 into earnings based on the specific identification method. In the nine months ended January 27, 2018 and January 28, 2017, the reclassifications from accumulated other comprehensive loss to earnings 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 27, 2018 were as follows:
 
Less than 12 months
 
1-5 Years
 
Total
Certificates of deposit
$
5,207

 
$
3,711

 
$
8,918

U.S. Government sponsored entities
999

 
8,032

 
9,031

Municipal bonds
2,598

 
3,390

 
5,988

 
$
8,804

 
$
15,133

 
$
23,937