Investments

12 Months Ended

Apr. 28, 2019

Investments, Debt and Equity Securities [Abstract]

Fixed Income Securities

The Company's portfolio of fixed income securities consists of commercial paper notes and term bank certificates of deposit. All of the Company's investments in fixed income securities have original maturity (maturity at the purchase date) of less than 12 months and are reported as short-term investments in the consolidated balance sheets as of April 28, 2019 and April 29, 2018. All of the Company's investments in fixed income securities are classified as held-to-maturity, since the Company has the positive intent and ability to hold these investments until maturity, and are carried at amortized cost.

The Company's investments in fixed income securities as of April 28, 2019 and April 29, 2018 were as follows:



	April 28, 2019								April 29, 2018
			Gross Unrealized								Gross Unrealized
(in thousands)	Amortized Cost		Gains		Losses		Fair Value		Amortized Cost		Gains		Losses		Fair Value
Commercial paper	$	—	$	—	$	—	$	—	$	548,010	$	—	$	—	$	548,010
Certificates of deposit	100,000		—		—		100,000		336,828		—		—		336,828
Total	$	100,000	$	—	$	—	$	100,000	$	884,838	$	—	$	—	$	884,838

The Company monitors its investment portfolio for impairment on a periodic basis. In order to determine whether a decline in fair value is other-than-temporary, the Company evaluates, among other factors: the duration and extent to which the fair value has been less than the carrying value; the Company's financial condition and business outlook, including key operational and cash flow metrics, current market conditions and future trends in its industry; the Company's relative competitive position within the industry; and the Company's intent and ability to retain the investment for a period of time sufficient to allow for any anticipated recovery in fair value. A decline in the fair value of the security below amortized cost that is deemed other-than-temporary is charged to earnings, resulting in the establishment of a new cost basis for the affected securities. During fiscal 2019, 2018 and 2017, there were no realized gains or losses, and the Company did not recognize any other-than-temporary impairments.

FINISAR CORP 10-K