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Marketable Securities
 12 Months Ended
Mar. 04, 2017
Marketable Securities [Abstract]  
Marketable Securities
Marketable Securities

We hold the following marketable securities, all classified as available for sale:
(In thousands)
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Estimated
Fair
Value
March 4, 2017
 
 
 
 
 
 
 
Municipal bonds
$
9,595

 
$
91

 
$
(97
)
 
$
9,589

Total marketable securities
$
9,595

 
$
91

 
$
(97
)
 
$
9,589

February 27, 2016
 
 
 
 
 
 
 
Mutual fund
$
30,178

 
$
—

 
$
(55
)
 
$
30,123

Municipal bonds
12,393

 
285

 
(109
)
 
12,569

Total marketable securities
$
42,571


$
285


$
(164
)

$
42,692



In the prior year, we were invested in a mutual fund holding short-term government securities as a means of deploying excess cash from operations while preserving liquidity. We sold this security in fiscal 2017 to partially finance the Sotawall acquisition.

We have a wholly-owned insurance subsidiary, Prism Assurance, Ltd. (Prism), which holds our municipal bonds. Prism insures a portion of our general liability, workers' compensation 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.

The following table presents the length of time that our securities were in continuous unrealized loss positions, but were not deemed to be other than temporarily impaired, as of March 4, 2017: 
 
Less Than 12 Months
 
Greater Than or Equal  to
12 Months
 
Total
(In thousands)
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
Municipal bonds
$
1,413

 
$
(14
)
 
$
1,167

 
$
(83
)
 
$
2,580

 
$
(97
)


The amortized cost and estimated fair values of our municipal bonds at March 4, 2017, 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 penalty. Gross realized gains and losses were insignificant for all periods presented.
(In thousands)
Amortized Cost
 
Estimated Market Value
Due within one year
$
548

 
$
548

Due after one year through five years
3,003

 
3,028

Due after five years through 10 years
4,553

 
4,605

Due after 10 years through 15 years
1,491

 
1,408

Total
$
9,595

 
$
9,589