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Marketable Debt Securities | 8 Months Ended
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May 07, 2022
Marketable Debt Securities |
Marketable Debt Securities | Note D – Marketable Debt Securities Marketable debt securities are carried at fair value, with unrealized gains and losses, net of income taxes, recorded in Accumulated other comprehensive loss until realized, and any credit risk related losses are recognized in net income in the period incurred. The Company’s basis for determining the cost of a security sold is the “Specific Identification Model.” ​ The Company’s available-for-sale marketable debt securities consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | May 7, 2022
​ |  | Amortized |  | Gross |  | Gross |  | ​
​ | ​ | Cost | ​ | Unrealized | ​ | Unrealized | ​ | Fair
(in thousands) | ​ | Basis | ​ | Gains | ​ | Losses | ​ | Value
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate debt securities | ​ | $ | 16,724 | ​ | $ | 11 | ​ | $ | (264) | ​ | $ | 16,471
Government bonds | ​ |  | 82,988 | ​ |  | 12 | ​ |  | (1,672) | ​ |  | 81,328
Mortgage-backed securities | ​ |  | 5,120 | ​ |  | 18 | ​ |  | (227) | ​ |  | 4,911
Asset-backed securities and other | ​ |  | 16,958 | ​ |  | 1 | ​ |  | (260) | ​ |  | 16,699
​ | ​ | $ | 121,790 | ​ | $ | 42 | ​ | $ | (2,423) | ​ | $ | 119,409
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | August 28, 2021
​ |  | Amortized |  | Gross |  | Gross |  | ​
​ | ​ | Cost | ​ | Unrealized | ​ | Unrealized | ​ | Fair
(in thousands) | ​ | Basis | ​ | Gains | ​ | Losses | ​ | Value
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate debt securities | ​ | $ | 23,650 | ​ | $ | 329 | ​ | $ | (2) | ​ | $ | 23,977
Government bonds | ​ |  | 65,416 | ​ |  | 338 | ​ |  | (2) | ​ |  | 65,752
Mortgage-backed securities | ​ |  | 6,552 | ​ |  | 58 | ​ |  | (8) | ​ |  | 6,602
Asset-backed securities and other | ​ |  | 17,551 | ​ |  | 43 | ​ |  | (7) | ​ |  | 17,587
​ | ​ | $ | 113,169 | ​ | $ | 768 | ​ | $ | (19) | ​ | $ | 113,918
​ The debt securities held at May 7, 2022, had effective maturities ranging from less than one year to approximately three years. At May 7, 2022, the Company held 65 securities that are in an unrealized loss position of approximately $2.4 million. In evaluating whether a credit loss exists for the securities, the Company considers factors such as the 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. An allowance for credit losses was deemed unnecessary given consideration of the factors above. ​ Included above in total available-for-sale marketable debt securities are $91.2 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.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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