Investment Securities

6 Months Ended

Dec. 02, 2017

Investments, Debt and Equity Securities [Abstract]

The following represents the Company’s investment securities as of December 2, 2017 and June 3, 2017 (in thousands):



December 2, 2017	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
US government and agency obligations	$	20,907	$	—	$	120	$	20,787
Municipal bonds	24,412		—		36		24,376
Corporate bonds	139,274		—		467		138,807
Commercial paper	3,494		—		1		3,493
Asset backed securities	2,033		—		4		2,029
Total current investment securities	$	190,120	$	—	$	628	$	189,492

Mutual funds	$	1,711	$	936	$	—	$	2,647
Total noncurrent investment securities	$	1,711	$	936	$	—	$	2,647



June 3, 2017	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
US government and agency obligations	$	20,259	$	—	$	43	$	20,216
Municipal bonds	36,839		34		—		36,873
Corporate bonds	75,769		21		—		75,790
Asset backed securities	5,583		—		—		5,583
Total current investment securities	$	138,450	$	55	$	43	$	138,462

Mutual funds	$	1,706	$	753	$	—	$	2,459
Total noncurrent investment securities	$	1,706	$	753	$	—	$	2,459

Proceeds from sales of available-for-sale securities were $61.7 million and $193.3 million during the twenty-six weeks ended December 2, 2017 and November 26, 2016, respectively. Gross realized gains during the twenty-six weeks ended ended December 2, 2017 and November 26, 2016 were $22,000 and $221,000, respectively. Gross realized losses during the twenty-six weeks ended December 2, 2017 and November 26, 2016 were zero and $6,000, respectively. For purposes of determining gross realized gains and losses, the cost of securities sold is based on the specific identification method.

Unrealized holding gains and (losses), net of taxes, for the twenty-six weeks ended December 2, 2017 and November 26, 2016 were as follows (in thousands):



	26 Weeks Ended
	December 2, 2017			November 26, 2016
Current investments	$	(420	)	$	(78	)
Noncurrent investments	148			57
Total unrealized holding gains	$	(272	)	$	(21	)

Actual maturities may differ from contractual maturities because some borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Contractual maturities at December 2, 2017, are as follows (in thousands):



	Estimated Fair Value
Within one year	$	99,175
1-5 years	90,317
Total	$	189,492