Investment Securities

12 Months Ended

Jun. 02, 2018

Investments, Debt and Equity Securities [Abstract]

Investment securities consisted of the following (in thousands):

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	June 2, 2018
			Gains in		Losses in
			Accumulated		Accumulated
			Other		Other		Estimated
	Amortized		Comprehensive		Comprehensive		Fair
	Cost		Income		Income		Value
US government and agency obligations	$	23,991	$	—	$	174	$	23,817
Municipal bonds	20,697		—		31		20,666
Certificates of deposit	2,510		—		3		2,507
Commercial paper	17,926		—		6		17,920
Corporate bonds	215,273		—		1,190		214,083
Variable rate demand notes	600		—		—		600
Asset backed securities	3,010		—		17		2,993
Total current investment securities	$	284,007	$	—	$	1,421	$	282,586

Mutual funds	2,037		1,034		—		3,071
Total noncurrent investment securities	$	2,037	$	1,034	—		$	3,071

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	June 3, 2017
			Gains in		Losses in
			Accumulated		Accumulated
			Other		Other		Estimated
	Amortized		Comprehensive		Comprehensive		Fair
	Cost		Income		Income		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 the sales and maturities of available-for-sale securities were $127.7 million, $248.2 million, and $285.9 million during fiscal 2018, 2017, and 2016, respectively. Gross realized gains on those sales and maturities during fiscal 2018, 2017, and 2016 were $25,000, $231,000, and $131,000, respectively. Gross realized losses on those sales and maturities during fiscal 2018, 2017, and 2016 were $83,000, $7,000, and $110,000, 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 fiscal 2018, 2017, and 2016 were as follows (in thousands):



	June 2, 2018			June 3, 2017			May 28, 2016
Current Investments	$	(1,083	)	$	(54	)	$	22
Noncurrent Investments	316			164			(31		)
Total unrealized holding gains (losses)	$	(767	)	$	110		$	(9	)

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 of investment securities at June 2, 2018, are as follows (in thousands):



	Estimated Fair Value
Within one year	$	111,676
1-3 years	170,910
	$	282,586

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