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Marketable Debt Securities
 5 Months Ended
Feb. 09, 2019
Investments, Debt and Equity Securities [Abstract]  
Marketable Debt Securities
Note D – Marketable Debt Securities
The Company’s basis for determining the cost of a security sold is the “Specific Identification Model.” Unrealized gains (losses) on marketable debt securities are recorded in Accumulated other comprehensive loss. The Company’s available-for-sale marketable debt securities consisted of the following:
 
 
 
February 9, 2019
 
  
(in thousands)
 
Amortized

Cost

Basis
 
 
Gross

Unrealized

Gains
 
 
Gross

Unrealized

Losses
 
 
Fair Value
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate debt securities
 
$
42,817
 
 
$
–
 
 
$
(412
)
 
$
42,405
 
Government bonds
 
 
38,670
 
 
 
97
 
 
 
(95
)
 
 
38,672
 
Mortgage-backed securities
 
 
2,635
 
 
 
–
 
 
 
(60
)
 
 
2,575
 
Asset-backed securities and other
 
 
38,177
 
 
 
–
 
 
 
(85
)
 
 
38,092
 
 
 
$
122,299
 
 
$
97
 
 
$
(652
)
 
$
121,744
 
 
 
 
August 25, 2018
 
  
(in thousands)
 
Amortized

Cost

Basis
 
 
Gross

Unrealized

Gains
 
 
Gross

Unrealized

Losses
 
 
Fair Value
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate debt securities
 
$
50,306
 
 
$
–
 
 
$
(684
)
 
$
49,622
 
Government bonds
 
 
28,777
 
 
 
–
 
 
 
(173
)
 
 
28,604
 
Mortgage-backed securities
 
 
3,248
 
 
 
–
 
 
 
(90
)
 
 
3,158
 
Asset-backed securities and other
 
 
53,445
 
 
 
–
 
 
 
(153
)
 
 
53,292
 
 
 
$
135,776
 
 
$
–
 
 
$
(1,100
)
 
$
134,676
 
The debt securities held at February 9, 2019, 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 debt securities during the twenty-four week period ended February 9, 2019.
The Company holds 98 securities that are in an unrealized loss position of approximately $652 thousand at February 9, 2019. 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 debt securities are $86.8 million of marketable debt 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.