Investments

The following is a summary of investments as of May 5, 2018:



	Amortized Cost or Par Value		Gross Unrealized Gains		Gross Unrealized Losses			Other-than- Temporary Impairment		Estimated Fair Value
Available-for-Sale Securities:
Auction-rate securities	$	1,675	$	—	$	(120	)	$	—	$	1,555

Held-to-Maturity Securities:
State and municipal bonds	$	55,684	$	1	$	(106	)	$	—	$	55,579

Trading Securities:
Mutual funds	$	14,125	$	1,212	$	—		$	—	$	15,337

The following is a summary of investments as of February 3, 2018:



	Amortized Cost or Par Value		Gross Unrealized Gains		Gross Unrealized Losses			Other-than- Temporary Impairment		Estimated Fair Value
Available-for-Sale Securities:
Auction-rate securities	$	1,725	$	—	$	(120	)	$	—	$	1,605

Held-to-Maturity Securities:
State and municipal bonds	$	55,527	$	9	$	(76	)	$	—	$	55,460

Trading Securities:
Mutual funds	$	13,746	$	1,408	$	—		$	—	$	15,154

The amortized cost and fair value of debt securities by contractual maturity as of May 5, 2018 is as follows:



	Amortized Cost		Fair Value
Held-to-Maturity Securities
Less than 1 year	$	54,700	$	54,596
1 - 5 years	984		983
	$	55,684	$	55,579

As of May 5, 2018 and February 3, 2018, $1,555 and $1,605 of available-for-sale securities and $984 and $4,694 of held-to-maturity securities are classified in long-term investments. Trading securities are held in a Rabbi Trust, intended to fund the Company’s deferred compensation plan, and are classified in long-term investments.

The Company’s investments in auction-rate securities (“ARS”) are classified as available-for-sale and reported at fair market value. As of both May 5, 2018 and February 3, 2018, the reported investment amount is net of $120 of temporary impairment to account for the impairment of certain securities from their stated par value. The $120 temporary impairment is reported, net of tax, as an “accumulated other comprehensive loss” of $89 in stockholders’ equity as of both May 5, 2018 and February 3, 2018. For the investments considered temporarily impaired, all of which have been in loss positions for over a year, the Company believes that these ARS can be successfully redeemed or liquidated in the future at par value plus accrued interest. The Company believes it has the ability and maintains its intent to hold these investments until such recovery of market value occurs; therefore, the Company believes the current lack of liquidity has created the temporary impairment in valuation. As of May 5, 2018 and February 3, 2018, all of the Company’s investments in ARS were classified in long-term investments.