Fair Value Measurements (Tables)

6 Months Ended

Dec. 02, 2017

Schedule Of Fair Value And Carrying Value Of Borrowings Under Long-Term Debt

The fair value and carrying value of the Company’s borrowings under its long-term debt were as follows (in thousands):



	December 2, 2017				June 3, 2017
	Carrying Value		Fair Value		Carrying Value		Fair Value
5.4% – 6.2% Notes payable	$	7,000	$	7,006	$	9,250	$	9,295
Long-term leases	1,520		1,355		1,689		1,520
	$	8,520	$	8,361	$	10,939	$	10,815

Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis

In accordance with the fair value hierarchy described above, the following table shows the fair value of financial assets and liabilities measured at fair value on a recurring basis as of December 2, 2017 and June 3, 2017 (in thousands):

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						Total
December 2, 2017	Level 1		Level 2		Level 3	Balance
Assets
US government and agency obligations	—		$	20,787	—	$	20,787
Municipal bonds	—		24,376		—	24,376
Commercial paper	—		3,493		—	3,493
Corporate bonds	—		138,807		—	138,807
Asset backed securities	—		2,029		—	2,029
Mutual funds	2,647		—		—	2,647
Total assets measured at fair value	$	2,647	$	189,492	—	$	192,139

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							Total
June 3, 2017	Level 1		Level 2		Level 3		Balance
Assets
US government and agency obligations	$	—	$	20,216	$	—	$	20,216
Municipal bonds	—		36,873		—		36,873
Corporate bonds	—		75,790		—		75,790
Asset backed securities	—		5,583		—		5,583
Mutual funds	2,459		—		—		2,459
Total assets measured at fair value	$	2,459	$	138,462	$	—	$	140,921