Financial Instruments (Tables)

9 Months Ended

Nov. 28, 2020

Marketable Securities [Abstract]

Amortized cost, gross unrealized gains and losses, and estimated fair values of investments available for sale

e hold the following available-for-sale marketable securities, made up of municipal and corporate bonds: 

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
November 28, 2020	$	12,556	$	459	$	—	$	13,015
February 29, 2020	11,692		275		—		11,967

Schedule of amortized cost and estimated fair values of investments by contractual maturity

The amortized cost and estimated fair values of these bonds at November 28, 2020, 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	$	771	$	779
Due after one year through five years	7,682		7,978
Due after five years through 10 years	3,303		3,428
Due beyond 15 years	800		830
Total	$	12,556	$	13,015

Fair value measurements

(In thousands)	Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Total Fair Value
November 28, 2020
Assets:
Money market funds	$	27,000	$	—	$	27,000
Commercial paper	—		4,300		4,300
Municipal and corporate bonds	—		13,015		13,015
Cash surrender value of life insurance	—		17,704		17,704
Foreign currency and aluminum forward/option contracts	—		896		896
Liabilities:
Deferred compensation	—		14,027		14,027
Interest rate swap contract	—		676		676
February 29, 2020
Assets:
Money market funds	$	2,689	$	—	$	2,689
Commercial paper	—		1,500		1,500
Municipal and corporate bonds	—		11,967		11,967
Cash surrender value of life insurance	—		16,560		16,560
Liabilities:
Deferred compensation	—		14,042		14,042
Foreign currency forward/option contract	—		340		340
Interest rate swap contract	—		561		561