PARK AEROSPACE CORP - 10-Q filing on 2022-07-08

Note 3 - Marketable Securities

3 Months Ended

May 29, 2022

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

3. MARKETABLE SECURITIES

All marketable securities are classified as available-for-sale and are carried at fair value, with the unrealized gains and losses, net of tax, included in comprehensive earnings. Realized gains and losses, amortization of premiums and discounts, and interest and dividend income are included in interest and other income in the Consolidated Statements of Operations. The costs of securities sold are based on the specific identification method.

The following is a summary of available-for-sale securities:

	May 29, 2022
	Total		Level 1		Level 2		Level 3

U.S. Treasury and other government securities	$	72,635	$	72,635	$	-	$	-
U.S. corporate debt securities		30,359		30,359		-		-
Total marketable securities	$	102,994	$	102,994	$	-		-

	February 27, 2022
	Total		Level 1		Level 2		Level 3

U.S. Treasury and other government securities	$	62,612	$	62,612	$	-	$	-
U.S. corporate debt securities		34,938		34,938		-		-
Total marketable securities	$	97,550	$	97,550	$	-	$	-

The following table shows the amortized cost basis of, and gross unrealized gains and losses on, the Company’s available-for-sale securities:

	Amortized Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses
May 29, 2022:
U.S. Treasury and other government securities	$	76,432	$	5	$	3,802
U.S. corporate debt securities		30,532		1		174
Total marketable securities	$	106,964	$	6	$	3,976

February 27, 2022:
U.S. Treasury and other government securities	$	65,177	$	5	$	2,570
U.S. corporate debt securities		35,064		5		131
Total marketable securities	$	100,241	$	10	$	2,701

The estimated fair values of such securities at May 29, 2022 by contractual maturity are shown below:

Due in one year or less	$	64,123
Due after one year through five years		38,871
	$	102,994