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Marketable Securities | 3 Months Ended
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Jun. 02, 2018
Marketable Securities [Abstract] |
Marketable Securities | Marketable securities We hold the following available-for-sale marketable securities, made up of municipal and corporate bonds:
In thousands | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
June 2, 2018 | 15,250 |  |  | 8 |  |  | (126 | ) |  | 15,132 |
March 3, 2018 | 9,183 |  |  | 8 |  |  | (138 | ) |  | 9,053 |
We have a wholly-owned insurance subsidiary, Prism Assurance, Ltd. (Prism), which holds these municipal and corporate bonds. Prism insures a portion of our general liability, workers’ compensation and automobile liability risks using reinsurance agreements to meet statutory requirements. The reinsurance carrier requires Prism to maintain fixed-maturity investments, which are generally high-quality municipal and corporate bonds, for the purpose of providing collateral for Prism’s obligations under the reinsurance agreements. The amortized cost and estimated fair values of municipal bonds at June 2, 2018, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities, as borrowers may have the right to call or prepay obligations with or without penalty.
In thousands | Amortized Cost |  | Estimated Fair Value
Due within one year | $ | 2,394 |  |  | $ | 2,394 |
Due after one year through five years | 7,039 |  |  | 6,980 |
Due after five years through 10 years | 4,563 |  |  | 4,512 |
Due after 10 years through 15 years | 240 |  |  | 240 |
Due beyond 15 years | 1,014 |  |  | 1,006 |
Total | $ | 15,250 |  |  | $ | 15,132 |
Fair value measurements Financial assets and liabilities are classified in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement: Level 1 (unadjusted quoted prices in active markets for identical assets or liabilities); Level 2 (observable market inputs, other than quoted prices included in Level 1); and Level 3 (unobservable inputs that cannot be corroborated by observable market data). We do not have any Level 3 financial assets or liabilities.
In thousands | Quoted Prices in Active Markets (Level 1) |  | Other Observable Inputs (Level 2) |  | Total Fair Value
June 2, 2018 |  |  |  |  |
Cash equivalents |  |  |  |  |
Money market funds | $ | 2,179 |  |  | $ | — |  |  | $ | 2,179 |
Short-term securities |  |  |  |  |
Mutual funds | 2,273 |  |  | — |  |  | 2,273 |
Municipal and corporate bonds | — |  |  | 121 |  |  | 121 |
Total short-term securities | 2,273 |  |  | 121 |  |  | 2,394 |
Long-term securities |  |  |  |  |
Municipal and corporate bonds | — |  |  | 12,738 |  |  | 12,738 |
Total assets at fair value | $ | 4,452 |  |  | $ | 12,859 |  |  | $ | 17,311 |
March 3, 2018 |  |  |  |  |
Cash equivalents |  |  |  |  |
Money market funds | $ | 2,901 |  |  | $ | — |  |  | $ | 2,901 |
Commercial paper | — |  |  | 400 |  |  | 400 |
Total cash equivalents | 2,901 |  |  | 400 |  |  | 3,301 |
Short-term securities |  |  |  |  |
Municipal and corporate bonds | — |  |  | 423 |  |  | 423 |
Long-term securities |  |  |  |  |
Municipal and corporate bonds | — |  |  | 8,630 |  |  | 8,630 |
Total assets at fair value | $ | 2,901 |  |  | $ | 9,453 |  |  | $ | 12,354 |
Cash equivalents Fair value of money market funds was determined based on quoted prices for identical assets in active markets. Commercial paper was measured at fair value using inputs based on quoted prices for similar securities in active markets. Short- and long-term securities Mutual funds were measured at fair value based on quoted prices for identical assets in active markets. Municipal and corporate bonds were measured at fair value based on market prices from recent trades of similar securities and are classified as short-term or long-term based on maturity date. Foreign currency instruments We periodically enter into forward purchase foreign currency contracts, generally with an original maturity date of less than one year, to hedge foreign currency exchange rate risk. As of June 2, 2018, we held foreign exchange forward contracts with a U.S. dollar notional value of $23.4 million, with the objective of reducing the exposure to fluctuations in the Canadian dollar and the Euro. The fair value of these contracts was a net liability of $0.2 million as of June 2, 2018. These forward contracts are measured at fair value using unobservable market inputs, such as quotations on forward foreign exchange points and foreign currency exchange rates, and would be classified as Level 2 within the fair value hierarchy above.

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- Definition Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=82896770&loc=d3e26626-111562 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.4) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27232-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=82896770&loc=d3e26610-111562 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27161-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.2,12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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