Fair Value Measurements (Tables)

9 Months Ended

Mar. 03, 2018

Schedule Of Fair Value And Carrying Value Of Borrowings Under Long-Term Debt

The fair value and carrying value of the Company’s borrowings under its long-term debt were as follows (in thousands):



	March 3, 2018				June 3, 2017
	Carrying Value		Fair Value		Carrying Value		Fair Value
5.4% – 6.2% Notes payable	$	5,875	$	5,855	$	9,250	$	9,295
Long-term leases	1,402		1,228		1,689		1,520
	$	7,277	$	7,083	$	10,939	$	10,815

Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis

In accordance with the fair value hierarchy described above, the following table shows the fair value of financial assets and liabilities measured at fair value on a recurring basis as of March 3, 2018 and June 3, 2017 (in thousands):

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							Total
March 3, 2018		Level 1		Level 2		Level 3	Balance
Assets
US government and agency obligations		—		$	18,888	—	$	18,888
Municipal bonds		—		21,165		—	21,165
Corporate bonds		—		133,701		—	133,701
Certificates of deposits	`	—		1,504		—	1,504
Asset backed securities		—		2,012		—	2,012
Mutual funds		3,008		—		—	3,008
Total assets measured at fair value		$	3,008	$	177,270	—	$	180,278

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							Total
June 3, 2017	Level 1		Level 2		Level 3		Balance
Assets
US government and agency obligations	$	—	$	20,216	$	—	$	20,216
Municipal bonds	—		36,873		—		36,873
Corporate bonds	—		75,790		—		75,790
Asset backed securities	—		5,583		—		5,583
Mutual funds	2,459		—		—		2,459
Total assets measured at fair value	$	2,459	$	138,462	$	—	$	140,921