ASC Topic 820 establishes a fair value hierarchy that distinguishes between assumptions based on market data (observable inputs) and the company’s assumptions (unobservable inputs). Determining where an asset or liability falls within that hierarchy depends on the lowest level input that is significant to the fair value measurement as a whole. An adjustment to the pricing method used within either Level 1 or Level 2 inputs could generate a fair value measurement that effectively falls in a lower level in the hierarchy.

Level 1 – Quoted market prices in active markets for identical assets or liabilities;

Level 2 – Inputs other than Level 1 inputs that are either directly or indirectly observable; and

Level 3 – Unobservable inputs developed using the company’s estimates and assumptions, which reflect those that market participants would use.

The determination of where an asset or liability falls in the hierarchy requires significant judgment. We evaluate our hierarchy disclosures each quarter based on various factors, and it is possible that an asset or liability may be classified differently from quarter to quarter. However, we expect that changes in classifications between different levels will be rare.

The following tables present information about assets measured at fair value on a recurring basis:

          
         Fair value measurements as of August 3, 2025, using:

          
         Quoted prices

         Significant

          
         in active

         other

         Significant

          
         markets for

         observable

         unobservable

          
         identical assets

         inputs

         inputs

         (amounts in thousands)

         Level 1

         Level 2

         Level 3

         Total

         Assets:

U.S. Government Money Market Fund

5,568

N/A

N/A

5,568

Growth Allocation Mutual Funds

894

N/A

N/A

894

S&P 500 Index Fund

340

N/A

N/A

340

Other

308

N/A

N/A

308

          
         Fair value measurements as of July 28, 2024, using:

          
         Quoted prices

         Significant

          
         in active

         other

         Significant

          
         markets for

         observable

         unobservable

          
         identical assets

         inputs

         inputs

         (amounts in thousands)

         Level 1

         Level 2

         Level 3

         Total

         Assets:

U.S. Government Money Market Fund

6,823

N/A

N/A

6,823

Growth Allocation Mutual Funds

756

N/A

N/A

756

S&P 500 Index Fund

212

N/A

N/A

212

Other

252

N/A

N/A

252

          
         Fair value measurements as of April 27, 2025, using:

          
         Quoted prices

         Significant

          
         in active

         other

         Significant

          
         markets for

         observable

         unobservable

          
         identical assets

         inputs

         inputs

         (amounts in thousands)

         Level 1

         Level 2

         Level 3

         Total

         Assets:

U.S. Government Money Market Fund

5,682

N/A

N/A

5,682

Growth Allocation Mutual Funds

808

N/A

N/A

808

S&P 500 Index Fund

275

N/A

N/A

275

Other

282

N/A

N/A

282

We have a rabbi trust (the “Trust”) for the participants in our deferred compensation plan (the “Plan”) that enables participants to direct their contributions to various investment options under the Plan. The investments associated with the Trust consist of a money market fund and various mutual funds that are classified as available-for-sale.

As of August 3, 2025, our investments associated with the Trust totaled $7.1 million, of which $1.4 million, and $5.7 million were classified as short-term and long-term, respectively. As of July 28, 2024, our investments associated with the Trust totaled $8.0 million, of which $954,000 and $7.1 million were classified as short-term and long-term, respectively. As of April 27, 2025, our investments associated with the Trust totaled $7.0 million, of which $1.3 million and $5.7 million were classified as short-term and long-term, respectively. The investments associated with the Trust had an accumulated unrealized gains totaling $292,000, $198,000, and $150,000 as of August 3, 2025, July 28, 2024, and April 27, 2025, respectively.

The fair value of our investments associated with the Trust approximates their cost basis.

The carrying amount of our cash and cash equivalents, accounts receivable, other current assets, lines of credit - current, accounts payable, and accrued expenses approximates their fair value because of the short maturity of these financial instruments. The carrying amount of our line of credit - long-term approximates its fair value as the variable rates of interest associated with the respective lines of credit are comparable to the market rate of interest.