Marketable Securities

5 Months Ended

Feb. 10, 2018

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:


	February 10, 2018
(in thousands)	Amortized Cost Basis			Gross Unrealized Gains			Gross Unrealized Losses				Fair Value

Corporate securities		$	65,261		$	–		$	(533	)		$	64,728
Government bonds			22,996			–			(129	)			22,867
Mortgage-backed securities			4,005			–			(79	)			3,926
Asset-backed securities and other			26,348			–			(152	)			26,196

		$	118,610		$	–		$	(893	)		$	117,717


	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 February 10, 2018, 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 twenty-four week period ended February 10, 2018.

The Company holds 112 securities that are in an unrealized loss position of approximately $893 thousand at February 10, 2018. 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 $85.0 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.