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Marketable Securities
 9 Months Ended
Nov. 29, 2014
Marketable Securities [Abstract]  
Marketable Securities
Marketable Securities
At November 29, 2014, the Company had investments in municipal bonds of $11.0 million; $0.2 million was current and $10.7 million was non-current. The Company’s wholly owned insurance subsidiary, Prism Assurance, Ltd. (Prism), holds all of the municipal bonds. Prism insures a portion of the Company’s workers’ compensation, general liability and automobile liability risks using reinsurance agreements to meet statutory requirements. The reinsurance carrier requires Prism to maintain fixed-maturity investments, which are generally high-quality municipal bonds, for the purpose of providing collateral for Prism’s obligations under the reinsurance agreement. All of the Company’s fixed maturity investments are classified as “available for sale,” carried at fair value and reported as short-term available-for-sale securities or available-for-sale securities in the consolidated balance sheet.

The amortized cost, gross unrealized gains and losses, and estimated fair values of investments available for sale at November 29, 2014 and March 1, 2014, were as follows: 
(In thousands)
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Estimated
Fair
Value
November 29, 2014
 
 
 
 
 
 
 
Municipal bonds
$
11,025

 
$
84

 
$
(127
)
 
$
10,982

Total investments
$
11,025

 
$
84

 
$
(127
)
 
$
10,982

March 1, 2014
 
 
 
 
 
 
 
Municipal bonds
$
11,719

 
$
94

 
$
(336
)
 
$
11,477

Total investments
$
11,719

 
$
94

 
$
(336
)
 
$
11,477



As of November 29, 2014, available for sale securities with a fair value of $2.6 million have been in a continuous unrealized loss position for more than 12 months with unrealized losses of $0.1 million.

The Company tests for other than temporary losses on a quarterly basis and considers the unrealized losses indicated above to be temporary in nature. The Company intends to hold the investments until it can recover the full principal amount, and has the ability to do so based on other sources of liquidity. The Company expects such recoveries to occur prior to the contractual maturities.

The amortized cost and estimated fair values of investments at November 29, 2014, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. 
(In thousands)
Amortized Cost
 
Estimated Market Value
Due within one year
$
237

 
$
243

Due after one year through five years
2,650

 
2,660

Due after five years through 10 years
6,888

 
6,935

Due after 10 years through 15 years
1,250

 
1,144

Total
$
11,025

 
$
10,982



Gross realized gains were $0.1 million during the first nine-months of fiscal 2015 and were immaterial during the nine-month period of fiscal 2014. Gross realized losses were immaterial during the fiscal 2015 and 2014 year-to-date periods.