Marketable Securities

3 Months Ended

Nov. 18, 2017

Investments, Debt and Equity Securities [Abstract]

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 18, 2017
(in thousands)	Amortized Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Corporate securities	$	75,729	$	8	$	(302	)	$	75,435
Government bonds		18,685		—		(82	)		18,603
Mortgage-backed securities		4,385		1		(52	)		4,334
Asset-backed securities and other		26,813		1		(71	)		26,743

	$	125,612	$	10	$	(507	)	$	125,115


	August 26, 2017
(in thousands)	Amortized Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Corporate securities	$	39,917	$	73	$	(13	)	$	39,977
Government bonds		31,076		49		(74	)		31,051
Mortgage-backed securities		4,850		2		(42	)		4,810
Asset-backed securities and other		25,042		28		(35	)		25,035

	$	100,885	$	152	$	(164	)	$	100,873

The debt securities held at November 18, 2017, 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 18, 2017.

The Company holds 102 securities that are in an unrealized loss position of approximately $507 thousand at November 18, 2017. 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 $85.3 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.