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Marketable Securities
 6 Months Ended
Oct. 27, 2018
Marketable Securities [Abstract]  
Marketable Securities
Note 6. 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 on the condensed consolidated balance sheets.  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 October 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 October 27, 2018 and April 28, 2018, our available-for-sale securities consisted of the following:
 
Amortized Cost
 
Unrealized Losses
 
Fair Value
Balance as of October 27, 2018
 
 
 
 
 
Certificates of deposit
$
5,196

 
$
—

 
$
5,196

U.S. Government securities
7,240

 
(9
)
 
7,231

U.S. Government sponsored entities
16,090

 
(104
)
 
15,986

Municipal bonds
3,322

 
(14
)
 
3,308

 
$
31,848

 
$
(127
)
 
$
31,721

Balance as of April 28, 2018
 

 
 

 
 

Certificates of deposit
$
8,669

 
$
—

 
$
8,669

U.S. Government securities
999

 
(7
)
 
992

U.S. Government sponsored entities
20,072

 
(123
)
 
19,949

Municipal bonds
4,936

 
(24
)
 
4,912

 
$
34,676

 
$
(154
)
 
$
34,522



Realized gains or losses on investments are recorded in our condensed 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 into earnings based on the specific identification method. In the six months ended October 27, 2018 and October 28, 2017, the reclassifications from accumulated other comprehensive loss to net 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 October 27, 2018 were as follows:
 
Less than 12 months
 
1-5 Years
 
Total
Certificates of deposit
$
2,479

 
$
2,717

 
$
5,196

U.S. Government securities
6,240

 
991

 
7,231

U.S. Government sponsored entities
11,157

 
4,829

 
15,986

Municipal bonds
2,961

 
347

 
3,308

 
$
22,837

 
$
8,884

 
$
31,721