Investment Securities

9 Months Ended

Feb. 25, 2017

Investments, Debt and Equity Securities [Abstract]

Investment Securities

InvestmentSecurities

The following represents the Company’s investment securities as of February 25, 2017 and May 28, 2016 (in thousands):

February 25, 2017	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
US government and agency obligations	$	17,089	$	—	$	27	$	17,062
Municipal bonds	46,981		30		—		47,011
Corporate bonds	85,703		49		—		85,752
Foreign government obligations	2,009		—		1		2,008
Asset backed securities	5,837		—		—		5,837
Total current investment securities	$	157,619	$	79	$	28	$	157,670
Mutual funds	$	1,751	$	736	$	—	$	2,487
Total noncurrent investment securities	$	1,751	$	736	$	—	$	2,487

May 28, 2016	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
US government and agency obligations	$	18,809	$	5	$	—	$	18,814
Municipal bonds	79,481		162		—		79,643
Corporate bonds	240,593		—		56		240,537
Foreign government obligations	2,044		2		—		2,046
Asset backed securities	15,908		—		15		15,893
Mutual funds	3,565		1		—		3,566
Total current investment securities	$	360,400	$	170	$	71	$	360,499
Mutual funds	$	1,448	$	489	$	—	$	1,937
Total noncurrent investment securities	$	1,448	$	489	$	—	$	1,937

Proceeds from sales of available-for-sale securities were $228.3 million and $221.9 million during the thirty-nine weeks endedFebruary 25, 2017 and February 27, 2016, respectively. Gross realized gains during the thirty-nine weeks ended ended February 25, 2017 and February 27, 2016 were $231,000 and $100,000, respectively.  Gross realized losses during the thirty-nine weeks endedFebruary 25, 2017 and February 27, 2016 were $6,000 and $102,000, respectively. For purposes of determining gross realized gains and losses, the cost of securities sold is based on the specific identification method.

Unrealized holding gains and (losses), net of taxes, for the thirty-nine weeks endedFebruary 25, 2017 and February 27, 2016 were as follows (in thousands):

	39 Weeks Ended
	February 25, 2017			February 27, 2016
Current investments	$	(30	)	$	(740	)
Noncurrent investments	154			(94		)
Total unrealized holding gains (losses)	$	124		$	(834	)

Actual maturities may differ from contractual maturities because some borrowers have the right to call or prepay obligations with or without call or prepayment penalties.  Contractual maturities at February 25, 2017, are as follows (in thousands):

	Estimated Fair Value
Within one year	$	84,966
1-5 years	72,704
Total	$	157,670