Fair Value Measurements (Tables)

9 Months Ended

Mar. 02, 2019

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):



	March 2, 2019				June 2, 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
Note payable	$	2,019	$	2,047	$	4,750	$	4,732
Long-term leases	1,102		967		1,340		1,171
	$	3,121	$	3,014	$	6,090	$	5,903

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 March 2, 2019 and June 2, 2018 (in thousands):

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						Total
March 2, 2019	Level 1		Level 2		Level 3	Balance
Assets
US government and agency obligations	—		$	30,770	—	$	30,770
Municipal bonds	—		47,907		—	47,907
Commercial paper	—		3,223		—	3,223
Corporate bonds	—		155,571		—	155,571
Certificates of deposits	—		3,020		—	3,020
Asset backed securities	—		3,991		—	3,991
Mutual funds	3,403		—		—	3,403
Total assets measured at fair value	$	3,403	$	244,482	—	$	247,885

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							Total
June 2, 2018	Level 1		Level 2		Level 3		Balance
Assets
US government and agency obligations	$	—	$	23,817	$	—	$	23,817
Municipal bonds	—		20,666		—		20,666
Certificates of deposits	—		2,507		—		2,507
Commercial paper	—		17,920		—		17,920
Corporate bonds	—		214,083		—		214,083
Variable rate demand notes	—		600		—		600
Asset backed securities	—		2,993		—		2,993
Mutual funds	3,071		—		—		3,071
Total assets measured at fair value	$	3,071	$	282,586	$	—	$	285,657