Financial Instruments (Tables)

9 Months Ended

Nov. 27, 2021

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 27, 2021	$	12,337	$	223	$	33	$	12,527
February 27, 2021	12,517		386		10		12,893

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 27, 2021, 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	$	1,011	$	1,024
Due after one year through five years	9,536		9,716
Due after five years through 10 years	990		973
Due beyond 15 years	800		814
Total	$	12,337	$	12,527

Fair value measurements

(In thousands)	Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Total Fair Value
November 27, 2021
Assets:
Money market funds	$	58,482	$	—	$	58,482
Municipal and corporate bonds	—		12,527		12,527
Cash surrender value of life insurance	—		18,839		18,839
Aluminum hedge contracts	—		68		68
Interest rate swap contract	—		69		69
Liabilities:
Deferred compensation	—		14,140		14,140
Foreign currency forward/option contracts	—		446		446
February 27, 2021
Assets:
Money market funds	$	26,034	$	—	$	26,034
Municipal and corporate bonds	—		12,893		12,893
Cash surrender value of life insurance	—		18,632		18,632
Foreign currency forward/option contracts	—		606		606
Aluminum hedge contracts	—		363		363
Liabilities:
Deferred compensation	—		13,507		13,507
Interest rate swap contract	—		504		504