Investment Securities

9 Months Ended

Mar. 03, 2018

Investments, Debt and Equity Securities [Abstract]

The following represents the Company’s investment securities as of March 3, 2018 and June 3, 2017 (in thousands):



March 3, 2018	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
US government and agency obligations	$	19,071	$	—	$	183	$	18,888
Municipal bonds	21,188		—		23		21,165
Corporate bonds	134,704		—		1,003		133,701
Certificates of deposits	1,504		—		—		1,504
Asset backed securities	2,027		—		15		2,012
Total current investment securities	$	178,494	$	—	$	1,224	$	177,270

Mutual funds	$	2,023	$	985	$	—	$	3,008
Total noncurrent investment securities	$	2,023	$	985	$	—	$	3,008



June 3, 2017	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
US government and agency obligations	$	20,259	$	—	$	43	$	20,216
Municipal bonds	36,839		34		—		36,873
Corporate bonds	75,769		21		—		75,790
Asset backed securities	5,583		—		—		5,583
Total current investment securities	$	138,450	$	55	$	43	$	138,462

Mutual funds	$	1,706	$	753	$	—	$	2,459
Total noncurrent investment securities	$	1,706	$	753	$	—	$	2,459

Proceeds from sales of available-for-sale securities were $95.3 million and $228.3 million during the thirty-nine weeks ended March 3, 2018 and February 25, 2017, respectively. Gross realized gains during the thirty-nine weeks ended ended March 3, 2018 and February 25, 2017 were $25,000 and $231,000, respectively. Gross realized losses during the thirty-nine weeks ended March 3, 2018 and February 25, 2017 were $5,000 and $6,000, 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 ended March 3, 2018 and February 25, 2017 were as follows (in thousands):



	39 Weeks Ended
	March 3, 2018			February 25, 2017
Current investments	$	(975	)	$	(30	)
Noncurrent investments	311			154
Total unrealized holding gains (losses)	$	(664	)	$	124

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 March 3, 2018, are as follows (in thousands):



	Estimated Fair Value
Within one year	$	95,140
1-5 years	82,130
Total	$	177,270