Quarterly report pursuant to Section 13 or 15(d)

Marketable Securities (Tables)

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Marketable Securities (Tables)
3 Months Ended
Jul. 31, 2015
Summary of Marketable Securities

As of July 31, 2015, marketable securities consisted of the following:

 

     Trading
(1)(2)
     Available-for-
Sale (2)
     Total  
     (in thousands)  

Mutual funds

   $ 127,793       $ —         $ 127,793   

Corporate bonds

     —           10,145         10,145   
  

 

 

    

 

 

    

 

 

 

Total

     127,793         10,145         137,938   

Less: current portion of marketable securities

     (9,714      (10,145      (19,859
  

 

 

    

 

 

    

 

 

 

Non-current marketable securities

   $ 118,079       $ —         $ 118,079   
  

 

 

    

 

 

    

 

 

 

As of April 30, 2015, marketable securities consisted of the following:

 

     Trading
(1)(2)
     Available-for-
Sale (2)
     Total  
     (in thousands)  

Mutual funds

   $ 131,399       $ —         $ 131,399   

Corporate bonds

     —           13,177         13,177   
  

 

 

    

 

 

    

 

 

 

Total

     131,399         13,177         144,576   

Less: current portion of marketable securities

     (12,580      (13,177      (25,757
  

 

 

    

 

 

    

 

 

 

Non-current marketable securities

   $ 118,819       $ —         $ 118,819   
  

 

 

    

 

 

    

 

 

 

 

(1) These investments are held in trust for settlement of the Company’s vested and unvested obligations of $125.5 million and $129.1 million as of July 31, 2015 and April 30, 2015, respectively, under the ECAP (see Note 6 — Deferred Compensation and Retirement Plans). During the three months ended July 31, 2015 and 2014, the fair value of the investments increased; therefore, the Company recognized income of $0.7 million and $2.0 million, respectively, which was recorded in other (loss) income, net.

 

(2) The Company’s financial assets measured at fair value on a recurring basis include trading securities classified as Level 1 and available-for-sale securities classified as Level 2. As of July 31, 2015 and April 30, 2015, the Company had no investments classified as Level 3.
Amortized Cost and Fair Values of Marketable Securities Classified as Available-For-Sale Investments

The amortized cost and fair values of marketable securities classified as available-for-sale investments were as follows:

 

     July 31, 2015  
     Amortized
Cost
     Gross
Unrealized
Gains
     Gross
Unrealized
Losses (1)
     Estimated
Fair
Value
 
     (in thousands)  

Corporate bonds

   $ 10,143       $ 3       $ (1    $ 10,145   
  

 

 

    

 

 

    

 

 

    

 

 

 

 

     April 30, 2015  
     Amortized
Cost
     Gross
Unrealized
Gains
     Gross
Unrealized
Losses (1)
     Estimated
Fair
Value
 
     (in thousands)  

Corporate bonds

   $ 13,167       $ 11       $ (1    $ 13,177   
  

 

 

    

 

 

    

 

 

    

 

 

 

 

(1) There are no marketable securities that have been in a continuous unrealized loss position for 12 months or more.