Marketable Securities

12 Months Ended

Mar. 03, 2018

Marketable Securities [Abstract]

Marketable Securities

Marketable Securities

We hold the following marketable securities, classified as available for sale:

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
March 3, 2018
Municipal bonds	$	9,183	$	8	$	(138	)	$	9,053
March 4, 2017
Municipal bonds	9,595		91		(97		)	9,589

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 3, 2018:

	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	$	8,165	$	(138	)	$	—	$	—	$	8,165	$	(138	)

The amortized cost and estimated fair values of our municipal bonds at March 3, 2018, 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	$	423	$	423
Due after one year through five years	4,606		4,543
Due after five years through 10 years	3,349		3,287
Due after 10 years through 15 years	141		140
Due beyond 15 years	664		660
Total	$	9,183	$	9,053