| Summary of Marketable Securities |
As of October 31, 2015, marketable securities consisted of the
following:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Trading (1)(2)
|
|
|
Available-for-Sale (2) |
|
|
Total |
|
| |
|
(in thousands)
|
|
|
Mutual funds
|
|
$ |
144,905 |
|
|
$ |
— |
|
|
$ |
144,905 |
|
|
Corporate bonds
|
|
|
— |
|
|
|
2,003 |
|
|
|
2,003 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
144,905 |
|
|
|
2,003 |
|
|
|
146,908 |
|
|
Less: current portion of marketable securities
|
|
|
(10,106 |
) |
|
|
(2,003 |
) |
|
|
(12,109 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-current marketable securities
|
|
$ |
134,799 |
|
|
$ |
— |
|
|
$ |
134,799 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 $140.9 million and $129.1 million as of
October 31, 2015 and April 30, 2015, respectively, under
the ECAP (see Note 6 — Deferred Compensation and
Retirement Plans). During the three and six months ended
October 31, 2015, the fair value of the investments decreased;
therefore, the Company recognized a loss of $2.5 million and $1.8
million, respectively, which was recorded in other (loss) income,
net. During the three and six months ended October 31, 2014,
the fair value of the investments increased; therefore, the Company
recognized income of $2.5 million and $4.5 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 October 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
October 31, 2015 |
|
| |
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses (1) |
|
|
Estimated
Fair Value |
|
| |
|
(in thousands)
|
|
|
Corporate bonds
|
|
$ |
2,003 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
2,003 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
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. |
|