Financial Instruments (Tables)

12 Months Ended

Mar. 02, 2024

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

Through our wholly-owned insurance subsidiary, Prism Assurance, Ltd. (Prism), we 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
March 2, 2024	$	11,327	$	15	$	437	$	10,905




February 25, 2023	10,647		—		702		9,945

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

The amortized cost and estimated fair values of our municipal and corporate bonds at March 2, 2024, 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. Investments that are due within one year are included in other current assets while those due after one year are included as other non-current assets. Gross realized gains and losses were insignificant for all periods presented.


(In thousands)	Amortized Cost		Estimated Fair Value
Due within one year	$	2,820	$	2,798
Due after one year through five years	8,507		8,107



Total	$	11,327	$	10,905

Schedule of financial assets and liabilities measured at fair value on a recurring basis

Financial assets and liabilities measured at fair value on a recurring basis were:


(In thousands)	Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Total Fair Value
March 2, 2024
Assets:
Money market funds	$	26,529	$	—	$	26,529

Municipal and corporate bonds	—		10,905		10,905
Foreign currency option contract	—		3		3

Interest rate swap contract	—		1,292		1,292
Liabilities:


Aluminum hedging contract	—		529		529

February 25, 2023
Assets:
Money market funds	$	8,062	$	—	$	8,062

Municipal and corporate bonds	—		9,945		9,945



Interest rate swap contract	—		1,817		1,817
Liabilities:

Foreign currency option contract	—		206		206
Aluminum hedging contract	—		1,075		1,075