(5) Marketable Investments
Excess cash balances are invested primarily in short-term, exchange-traded debt instruments. Investments generally consist of non-equity type investments stated at market value.
The following is a summary of investment securities:
| Amortized Cost | Gross Unrealized Gains |
Gross Unrealized Losses |
Estimated Fair Value |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (Amounts in thousands) | |||||||||||||||
| April 27, 2008 Available-for-Sale Securities: U.S. corporate equity securities |
$ | 301 | $ | 161 | $ | | $ | 462 | |||||||
| U.S. corporate debt securities | 10,164 | 185 | (88 | ) | 10,261 | ||||||||||
| Foreign corporate debt securities | 14,682 | | (318 | ) | 14,364 | ||||||||||
| $ | 25,147 | $ | 346 | $ | (406 | ) | $ | 25,087 | |||||||
| April 29, 2007 Available-for-Sale Securities: U.S. corporate equity securities |
$ | 301 | $ | 247 | $ | | $ | 548 | |||||||
| U.S. corporate debt securities | 10,952 | | | 10,952 | |||||||||||
| Foreign corporate debt securities | 12,592 | 71 | (2 | ) | 12,661 | ||||||||||
| $ | 23,845 | $ | 318 | $ | (2 | ) | $ | 24,161 | |||||||
By contractual maturity, all marketable debt investments at April 27, 2008 are due in one year or less; as such, all unrealized losses noted above occurred within the past 12 months. Given the short-term maturity of the investment securities and their related investment rating, none of the above securities were deemed to have an other-than-temporary impairment.
