Note 3 - Marketable Securities

3 Months Ended

May 31, 2020

Notes to Financial Statements

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

3

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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 earnings. Realized gains and losses, amortization of premiums and discounts, and interest and dividend income are included in interest and other 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:

	May 31, 2020
	Total		Level 1		Level 2		Level 3
U.S. Treasury and other government securities	$	94,120	$	94,120	$	-	$	-
U.S. corporate debt securities		18,545		18,545		-		-
Total marketable securities	$	112,665	$	112,665	$	-

	March 1, 2020
	Total		Level 1		Level 2		Level 3
U.S. Treasury and other government securities	$	101,390	$	101,390	$	-	$	-
U.S. corporate debt securities		15,555		15,555		-		-
Total marketable securities	$	116,945	$	116,945	$	-	$	-

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

	Amortized Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses
May 31, 2020:
U.S. Treasury and other government securities	$	93,075	$	1,045	$	-
U.S. corporate debt securities		18,486		118		59
Total marketable securities	$	111,561	$	1,163	$	59
March 1, 2020:
U.S. Treasury and other government securities	$	100,626	$	764	$	-
U.S. corporate debt securities		15,473		82		-
Total marketable securities	$	116,099	$	846	$	-

The estimated fair values of such securities at

May 31, 2020

by contractual maturity are shown below:

Due in one year or less	$	37,690
Due after one year through five years		74,975
	$	112,665