Note 7 - Investment Securities

6 Months Ended

Aug. 26, 2017

Notes to Financial Statements

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

7

) Investment Securities

The Company’s investment securities as of

August 26, 2017

and

February 25, 2017

are as follows:

(in millions)	August 26, 2017		February 25, 2017
Available-for-sale securities:
Long term	$	19.6	$	19.3
Trading securities:
Long term		79.6		70.3
Total investment securities	$	99.2	$	89.6

Auction Rate Securities

As of

August 26, 2017

and

February 25, 2017,

the Company’s long term available-for-sale investment securities represented approximately

$20.3

million par value of auction rate securities consisting of preferred shares of closed end municipal bond funds, less temporary valuation adjustments of approximately

$0.7

million and

$1.0

million, respectively. Since these valuation adjustments are deemed to be temporary, they are recorded in accumulated other comprehensive loss, net of a related tax benefit, and did

not

affect the Company’s net earnings.

Long Term Trading Investment Securities

The Company’s long term trading investment securities, which are provided as investment options to the participants of the nonqualified deferred compensation plan, are stated at fair market value. The values of these trading investment securities included in the table above are approximately

$79.6

million and

$70.3

million as of

August 26, 2017

and

February 25, 2017,

respectively.