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Marketable Securities
 12 Months Ended
Aug. 25, 2018
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities

Note F – 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:

 

     August 25, 2018  

(in thousands)

    Amortized
Cost
Basis		      Gross
Unrealized
Gains		      Gross
Unrealized
Losses		      Fair
Value		  

Corporate 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  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

     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 August 25, 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 fiscal 2018, 2017 or 2016.

The Company holds 121 securities that are in an unrealized loss position of approximately $1.1 million at August 25, 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 its intent and ability to hold the investments until maturity or until recovery of fair value.

Included above in total marketable securities are $85.6 million and $85.4 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 as of August 25, 2018 and August 26, 2017, respectively.