Quarterly report pursuant to Section 13 or 15(d)

Marketable Securities (Tables)

v3.3.1.900
Marketable Securities (Tables)
6 Months Ended
Oct. 31, 2015
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.