Financial Instruments (Tables)

3 Months Ended

May 29, 2021

Marketable Securities [Abstract]

Amortized cost, gross unrealized gains and losses, and estimated fair values of investments available for sale

e hold the following available-for-sale marketable securities, made up of municipal and corporate bonds: 

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
May 29, 2021	$	12,372	$	384	$	7	$	12,749
February 27, 2021	12,517		386		10		12,893

Schedule of amortized cost and estimated fair values of investments by contractual maturity

The amortized cost and estimated fair values of these bonds at May 29, 2021, 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.

(In thousands)	Amortized Cost		Estimated Fair Value
Due within one year	$	713	$	717
Due after one year through five years	8,507		8,812
Due after five years through 10 years	2,352		2,392
Due beyond 15 years	800		828
Total	$	12,372	$	12,749

Fair value measurements

(In thousands)	Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Total Fair Value
May 29, 2021
Assets:
Money market funds	$	13,991	$	—	$	13,991
Municipal and corporate bonds	—		12,749		12,749
Cash surrender value of life insurance	—		18,474		18,474
Foreign currency forward/option contracts	—		577		577
Aluminum hedge contracts	—		872		872
Liabilities:
Deferred compensation	—		14,888		14,888
Interest rate swap contract	—		361		361
February 27, 2021
Assets:
Money market funds	$	26,034	$	—	$	26,034
Municipal and corporate bonds	—		12,893		12,893
Cash surrender value of life insurance	—		18,632		18,632
Foreign currency forward/option contracts	—		606		606
Aluminum hedge contracts	—		363		363
Liabilities:
Deferred compensation	—		13,507		13,507
Interest rate swap contract	—		504		504