Marketable Securities

3 Months Ended

Nov. 21, 2015

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

Note D – Marketable Securities

The Company’s basis for determining the cost of a security sold is the “Specific Identification Model.” Unrealized gains (losses) on marketable securities are recorded in Accumulated other comprehensive loss. The Company’s available-for-sale marketable securities consisted of the following:

	November 21, 2015
(in thousands)	Amortized Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Corporate securities	$	35,055	$	53	$	(43	)	$	35,065
Government bonds		31,193		3		(46	)		31,150
Mortgage-backed securities		8,649		10		(106	)		8,553
Asset-backed securities and other		18,233		5		(11	)		18,227
	$	93,130	$	71	$	(206	)	$	92,995

	August 29, 2015
(in thousands)	Amortized Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Corporate securities	$	34,859	$	51	$	(40	)	$	34,870
Government bonds		33,098		31		(7	)		33,122
Mortgage-backed securities		9,287		17		(99	)		9,205
Asset-backed securities and other		11,223		9		(2	)		11,230
	$	88,467	$	108	$	(148	)	$	88,427

The debt securities held at November 21, 2015, had effective maturities ranging from less than one year to approximately three years. The Company did not realize any material gains or losses on its marketable securities during the twelve week period ended November 21, 2015.

The Company holds 77 securities that are in an unrealized loss position of approximately $206 thousand at November 21, 2015. The Company has the intent and ability to hold these investments until recovery of fair value or maturity, and does not deem the investments to be impaired on an other than temporary basis. In evaluating whether the securities are deemed to be impaired on an other than temporary basis, the Company considers factors such as the duration and severity of the loss position, the credit worthiness of the investee, the term to maturity and the intent and ability to hold the investments until maturity or until recovery of fair value.

Included above in total marketable securities are $61.0 million of marketable securities transferred by the Company’s insurance captive to a trust account to secure its obligations to an insurance company related to future workers’ compensation and casualty losses.