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Marketable Securities
 9 Months Ended
Nov. 30, 2013
Marketable Securities [Abstract]  
Marketable Securities
Marketable Securities
At November 30, 2013, the Company had investments in municipal bonds of $13.8 million; $2.7 million was current and $11.1 million was non-current. The Company’s wholly owned insurance subsidiary, Prism Assurance, Ltd. (Prism), holds $11.2 million of the municipal bonds. Prism insures a portion of the Company’s workers’ compensation, general liability and automobile liability risks using reinsurance agreements to meet statutory requirements. The reinsurance carrier requires Prism to maintain fixed-maturity investments, which are generally high-quality municipal bonds, for the purpose of providing collateral for Prism’s obligations under the reinsurance agreement. All of the Company’s fixed maturity investments are classified as “available for sale,” are carried at fair value and are reported as short-term available-for-sale securities or available-for-sale securities in the consolidated balance sheet.

The amortized cost, gross unrealized gains and losses, and estimated fair values of investments available for sale at November 30, 2013 and March 2, 2013, were as follows: 
(In thousands)
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Estimated
Fair
Value
November 30, 2013
 
 
 
 
 
 
 
Municipal bonds
$
14,175

 
$
48

 
$
(431
)
 
$
13,792

Total investments
$
14,175

 
$
48

 
$
(431
)
 
$
13,792

March 2, 2013
 
 
 
 
 
 
 
Municipal bonds
$
38,927

 
$
127

 
$
(240
)
 
$
38,814

Total investments
$
38,927

 
$
127

 
$
(240
)
 
$
38,814



The Company tests for other than temporary losses on a quarterly basis and considers the unrealized losses indicated above to be temporary in nature. The Company intends to hold the investments until it can recover the full principal amount, and has the ability to do so based on other sources of liquidity. The Company expects such recoveries to occur prior to the contractual maturities.

The following table presents the length of time that available-for-sale securities were in continuous unrealized loss positions, but were not deemed to be other than temporarily impaired, as of November 30, 2013:
 
 
Less Than 12 Months
 
Greater Than or Equal  to
12 Months
 
Total
(In thousands)
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
Municipal bonds
$
6,495

 
$
(202
)
 
$
1,021

 
$
(229
)
 
$
7,516

 
$
(431
)
Total investments
$
6,495

 
$
(202
)
 
$
1,021

 
$
(229
)
 
$
7,516

 
$
(431
)


The amortized cost and estimated fair values of investments at November 30, 2013, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. 
(In thousands)
Amortized Cost
 
Estimated Market Value
Due within one year
$
2,688

 
$
2,689

Due after one year through five years
2,720

 
2,743

Due after five years through 10 years
7,451

 
7,272

Due after 10 years through 15 years
1,250

 
1,021

Due beyond 15 years
66

 
67

Total
$
14,175

 
$
13,792



Gross realized gains and losses were not material during the either of the nine-month periods of fiscal 2014 or 2013.