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Fair Value Measurements (Tables) | 3 Months Ended
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Jun. 29, 2013
Fair Value Disclosures [Abstract] |
Summary of the Fair Value and Carrying Value of Financial Instruments | The book value and estimated fair value of the Company’s financial instruments are as follows (in thousands):
| June 29, 2013 |  | March 30, 2013
| Book Value |  | Estimated Fair Value |  | Book Value |  | Estimated Fair Value
Cash and cash equivalents (1) | $ | 59,835 |  |  | $ | 59,835 |  |  | $ | 47,823 |  |  | $ | 47,823 |
Restricted cash (1) | 8,353 |  |  | 8,353 |  |  | 7,952 |  |  | 7,952 |
Investments (2) | 17,562 |  |  | 17,562 |  |  | 17,698 |  |  | 17,698 |
Consumer loans receivable (3) | 110,279 |  |  | 113,918 |  |  | 110,990 |  |  | 115,044 |
Interest rate lock commitment derivatives (4) | (209 | ) |  | (209 | ) |  | 28 |  |  | 28 |
Forward loan sale commitment derivatives (4) | 258 |  |  | 258 |  |  | (3 | ) |  | (3 | )
Inventory finance receivable (5) | 23,977 |  |  | 23,977 |  |  | 22,950 |  |  | 22,950 |
Securitized financings (6) | 79,106 |  |  | 88,045 |  |  | 82,287 |  |  | 90,895 |
Mortgage servicing rights (7) | 340 |  |  | 340 |  |  | 335 |  |  | 335 |
Summary of Assets Measured at Fair Value on a Recurring Basis | Assets measured at fair value on a recurring basis are summarized below (in thousands):
| June 29, 2013
| Total |  | Level 1 |  | Level 2 |  | Level 3
Securities issued by the U.S Treasury and Government (1) | $ | 2,287 |  |  | $ | — |  |  | $ | 2,287 |  |  | $ | — |
Mortgage-backed securities (1) | 4,348 |  |  | — |  |  | 4,348 |  |  | — |
Securities issued by states and political subdivisions (1) | 1,673 |  |  | — |  |  | 1,673 |  |  | — |
Corporate debt securities (1) | 2,605 |  |  | — |  |  | 2,605 |  |  | — |
Marketable equity securities (1) | 5,649 |  |  | 5,649 |  |  | — |  |  | — |
Interest rate lock commitment derivatives (2) | (209 | ) |  | — |  |  | — |  |  | (209 | )
Forward loan sale commitment derivatives (2) | 258 |  |  | — |  |  | — |  |  | 258 |
Mortgage servicing rights (3) | 340 |  |  | — |  |  | — |  |  | 340 |
(1) | Unrealized gains or losses on investments are recorded in accumulated other comprehensive income (loss) at each measurement date.
(2) | Gains or losses on derivatives are recognized in current period earnings through cost of sales.
(3) | Changes in the fair value of mortgage servicing rights are recognized in the current period earnings through net revenue.
Summary of Assets and Liabilities Measured at Fair Value for Disclosure | Assets and liabilities for which fair value is disclosed but not required to be recognized in the balance sheet on a recurring basis are summarized below (in thousands):
| June 29, 2013
| Total |  | Level 1 |  | Level 2 |  | Level 3
Cash and cash equivalents | $ | 59,835 |  |  | $ | 59,835 |  |  | $ | — |  |  | $ | — |
Restricted cash | 8,353 |  |  | 8,353 |  |  | — |  |  | — |
Loans held for investment | 100,291 |  |  | — |  |  | — |  |  | 100,291 |
Loans held for sale | 8,615 |  |  | — |  |  | 8,615 |  |  | — |
Loans held—construction advances | 5,012 |  |  | — |  |  | — |  |  | 5,012 |
Inventory finance receivable | 23,977 |  |  | — |  |  | — |  |  | 23,977 |
Securitized financings | 88,045 |  |  | — |  |  | 88,045 |  |  | — |
Equity method investment | 1,000 |  |  | — |  |  | — |  |  | 1,000 |
Assumptions for Mortgage Servicing Rights |
| June 29, 2013 |  | March 30, 2013
| (Dollars in thousands)
Number of loans serviced with MSRs | 2,301 |  |  | 2,106 |
Weighted average servicing fee (basis points) | 34.76 |  |  | 34.59 |
Capitalized servicing multiple | 36.10 | % |  | 38.82 | %
Capitalized servicing rate (basis points) | 12.55 |  |  | 13.43 |
Serviced portfolio with MSRs | $ | 270,699 |  |  | $ | 249,378 |
Capitalized loans servicing portfolio | $ | 340 |  |  | $ | 335 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 6 -Footnote 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15 -Subparagraph b-d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 18 -Subparagraph c(2), d, e, f -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph a, c(1), c(2), c(3), d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13467-108611 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13476-108611 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 10 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 14 -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 19 -Subparagraph a, b, c(1), d(1) -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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