Fair Value Measurements (Tables)

6 Months Ended

Dec. 01, 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):



	December 1, 2018				June 2, 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
Note payable	$	2,756	$	2,783	$	4,750	$	4,732
Long-term leases	1,149		1,001		1,340		1,171
	$	3,905	$	3,784	$	6,090	$	5,903

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 December 1, 2018 and June 2, 2018 (in thousands):

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						Total
December 1, 2018	Level 1		Level 2		Level 3	Balance
Assets
US government and agency obligations	—		$	27,719	—	$	27,719
Municipal bonds	—		46,733		—	46,733
Commercial paper	—		9,833		—	9,833
Corporate bonds	—		162,299		—	162,299
Certificates of deposits	—		2,500		—	2,500
Asset backed securities	—		2,988		—	2,988
Mutual funds	3,083		—		—	3,083
Total assets measured at fair value	$	3,083	$	252,072	—	$	255,155

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							Total
June 2, 2018	Level 1		Level 2		Level 3		Balance
Assets
US government and agency obligations	$	—	$	23,817	$	—	$	23,817
Municipal bonds	—		20,666		—		20,666
Certificates of deposits	—		2,507		—		2,507
Commercial paper	—		17,920		—		17,920
Corporate bonds	—		214,083		—		214,083
Variable rate demand notes	—		600		—		600
Asset backed securities	—		2,993		—		2,993
Mutual funds	3,071		—		—		3,071
Total assets measured at fair value	$	3,071	$	282,586	$	—	$	285,657