Marketable Securities

3 Months Ended

Jun. 02, 2013

Marketable Securities [Abstract]

Marketable Securities

3. MARKETABLE SECURITIES

All marketable securities are classified as available-for-sale and are carried at fair value, with the unrealized gains and losses, net of tax, included in comprehensive income (loss). Realized gains and losses, amortization of premiums and discounts, and interest and dividend income are included in interest income in the Consolidated Statements of Operations. The costs of securities sold are based on the specific identification method.

The following is a summary of available-for-sale securities:

				June 2, 2013
		Total		Level 1		Level 2		Level 3
U.S. Treasury and other
government securities	$	72,491	$	72,491	$	-	$	-
U.S. corporate debt securities		17,744		17,744		-		-
Total marketable securities	$	90,235	$	90,235	$	-	$	-
				March 3, 2013
		Total		Level 1		Level 2		Level 3
U.S. Treasury and other
government securities	$	58,299	$	58,299	$	-	$	-
U.S. corporate debt securities		30,800		20,859		9,941		-
Total marketable securities	$	89,099	$	79,158	$	9,941	$	-

At March 3, 2013, the Company's level 2 investments consisted of commercial paper which was not traded on a regular basis or in an active market, and the Company was unable to obtain pricing information on an on-going basis. Therefore, these investments were measured using quoted market prices for similar assets currently trading in an active market or using model-derived valuations in which all significant inputs are observable for substantially the full term of the asset.

The following table shows the amortized cost basis of, and gross unrealized gains and losses on, the Company's available-for-sale securities:

				Gross		Gross
		Amortized		Unrealized		Unrealized
		Cost Basis		Gains		Losses
June 2, 2013:
U.S. Treasury and other
government securities	$	72,501	$	76	$	86
U.S. corporate debt securities		17,742		12		10
Total marketable securities	$	90,243	$	88	$	96
March 3, 2013:
U.S. Treasury and other
government securities	$	48,293	$	47	$	48
U.S. corporate debt securities		40,859		11		63
Total marketable securities	$	89,152	$	58	$	111

The estimated fair values of such securities at June 2, 2013, by contractual maturity, are shown below:

Due in one year or less	$	81,946
Due after one year through five years		8,289
	$	90,235