Investment Securities

9 Months Ended

Feb. 29, 2020

Investments, Debt and Equity Securities [Abstract]

The following represents the Company’s investment securities as of February 29, 2020 and June 1, 2019 (in thousands):


February 29, 2020	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value

Municipal bonds	$	18,862	$	134	$	—	$	18,996

Corporate bonds	59,329		329		—		59,658
Certificates of deposits	1,003		—		2		1,001
Asset backed securities	1,196		12		—		1,208
Total current investment securities	$	80,390	$	475	$	2	$	80,863

Mutual funds	$	1,994	$	661	$	—	$	2,655
Total noncurrent investment securities	$	1,994	$	661	$	—	$	2,655


June 1, 2019	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
US government and agency obligations	$	30,896	$	78	$	—	$	30,974
Municipal bonds	50,220		133		—		50,353
Commercial paper	9,953		—		8		9,945
Corporate bonds	147,068		94		—		147,162
Certificates of deposits	6,149		—		1		6,148
Asset backed securities	5,589		10		—		5,599
Total current investment securities	$	249,875	$	315	$	9	$	250,181

Mutual funds	$	2,331	$	1,026	$	—	$	3,357
Total noncurrent investment securities	$	2,331	$	1,026	$	—	$	3,357

Available-for-sale

Proceeds from sales and maturities of investment securities available-for-sale were $181.5 million and $160.2 million during the thirty-nine weeks ended February 29, 2020 and March 2, 2019, respectively. Gross realized gains for the thirty-nine weeks ended February 29, 2020 and March 2, 2019 were $246,000 and $7,000, respectively. Gross realized losses for the thirty-nine weeks ended February 29, 2020 and March 2, 2019 were $7,000 and $35,000, respectively. For purposes of determining gross realized gains and losses, the cost of securities sold is based on the specific identification method.

Actual maturities may differ from contractual maturities as some borrowers have the right to call or prepay obligations with or without penalties. Contractual maturities of current investments at February 29, 2020, are as follows (in thousands):


	Estimated Fair Value
Within one year	$	67,854
1-5 years	13,009
Total	$	80,863