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Marketable Securities
 6 Months Ended
Aug. 27, 2016
Marketable Securities [Abstract]  
Marketable Securities
Marketable Securities

We hold the following marketable securities, all classified as available for sale: 
(In thousands)
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Estimated
Fair Value
August 27, 2016
 
 
 
 
 
 
 
Mutual fund
$
30,290

 
$
—

 
$
(55
)
 
$
30,235

Municipal bonds
12,835

 
349

 
(75
)
 
13,109

Total marketable securities
$
43,125

 
$
349

 
$
(130
)
 
$
43,344

 
 
 
 
 
 
 
 
February 27, 2016
 
 
 
 
 
 
 
Mutual fund
$
30,178

 
$
—

 
$
(55
)
 
$
30,123

Municipal bonds
12,393

 
285

 
(109
)
 
12,569

Total marketable securities
$
42,571

 
$
285

 
$
(164
)
 
$
42,692



We are invested in a mutual fund holding short-term government securities as a means of deploying excess cash generated from operations while preserving liquidity.

We have a wholly-owned insurance subsidiary, Prism Assurance, Ltd. (Prism), which holds municipal bonds. Prism insures a portion of our general liability, workers’ compensation 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.

As of August 27, 2016, marketable securities with a fair value of $1.2 million have been in a continuous unrealized loss position for more than 12 months with unrealized losses of $0.1 million.

We test for other-than-temporary losses on a quarterly basis and whenever events or changes in circumstances indicate that the carrying amount of an investment may not be recoverable. We consider the unrealized losses indicated above to be temporary in nature. We intend to hold our investments until the full principal amount can be recovered, and we have the ability to do so based on other sources of liquidity.

The amortized cost and estimated fair values of municipal bonds at August 27, 2016, 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 penalty. 
(In thousands)
Amortized Cost
 
Estimated Fair Value
Due within one year
$
431

 
$
430

Due after one year through five years
4,939

 
5,013

Due after five years through 10 years
6,173

 
6,446

Due after 10 years through 15 years
1,292

 
1,220

Total
$
12,835

 
$
13,109



Gross realized gains and losses were not significant during the first six months of fiscal 2017 and fiscal 2016.