As of April 30, 2011 marketable securities consisted of the following:

 

 

As of April 30, 2010 marketable securities consisted of the following:

 

 

 

 

 

As of April 30, 2011, amortized cost and fair values of marketable securities classified as available-for-sale investments were as follows:

 

 

Investments in marketable securities are made based on the Company’s investment policy, which restricts the types of investments that can be made. As of April 30, 2011 and 2010, the Company’s investments associated with cash equivalents, including restricted cash consist of money market funds for which market prices are readily available. As of April 30, 2011 and 2010, the Company’s investments in marketable securities, consisting of mutual funds, were classified as trading, for which market prices are readily available. As of April 30, 2011, marketable securities classified as available-for-sale consist of corporate bonds, U.S. Treasury and agency securities and commercial paper, with maturities ranging from one month to three years, for which market prices for similar assets are readily available. Also classified as trading were ARS, reflected at fair value, as of April 30, 2010, which were redeemed at full value during fiscal 2011.

 

As of April 30, 2011 and 2010, the Company’s marketable securities included $71.4 million (net of gross unrealized gains and losses of $6.8 million and $0.1 million, respectively) and $69.0 million (net of gross unrealized gains and losses of $3.5 million and $1.5 million, respectively), respectively, held in trust for settlement of the Company’s obligations under certain of its deferred compensation plans, of which $66.3 million and $64.9 million, respectively, are classified as non-current. The Company’s obligations for which these assets were held in trust totaled $72.1 million and $69.0 million as of April 30, 2011 and 2010, respectively.

 

The following table represents the Company’s fair value hierarchy for financial assets measured at fair value on a recurring basis:

 

 

 

The following table presents the Company’s assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the periods indicated: